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SUMMARY:

While there are many things that are important to start an Airbnb business, there is one key aspect to success you need to focus on if you want to succeed!  

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After working with hundreds of students, helping them grow their Airbnb management businesses all over the world, I want to talk about the number one most important thing that you need for success in your Airbnb business. That is something we call an irresistible offer. You want to craft an irresistible offer, or something you have to offer to your specific group of clients. Talking about a specific group of clients is important, because this is different than making your offer as attractive as possible to every single person. You want to focus on a specific group of people with a specific set of needs. In other words, you want to develop a niche and focus on that. For example, let’s take two different groups with different needs: real estate investors, and vacation home owners. We know that real estate investors are going to be very focused on returns, it’s important for them that things are passive and hands off for them. Vacation homeowners are going to be a lot more concerned about their property being well taken care of. They’re going to want regular updates about the status of their property, more so than real estate. That’s just two examples, but really there are other niches and groups we can identify and focus on their specific, individual needs, and what we can offer them. 

Once we’ve established a niche: we’ve identified a specific group of clients we want to focus on, we want to reach out to them, learn more about their specific challenges, what unique needs they individually have. With that essential information, we can start crafting our irresistible offer: how we can provide value to them. Now, remember that as property managers taking a percentage of revenue, we are already providing a service with a lot of value. Because the two things people always want more of: time and money. With our services, we are saving them time and helping them make more money on their properties. When you look at the most successful companies in the world, they have built their business on those two principles: saving time and saving (or making more) money. 

We have systems in place to optimize their listings with pictures, pricing, description, automate tasks to increase efficiencies, we can take a lot off their plate while still increasing their profit, despite our managing fees. 

When we reach out to our specific niche, we are going to start to notice recurring problems and challenges that they are all facing. What we do now is turn around and craft an offer that specifically addresses those challenges, showing the property owner how we’re going to be able to solve them for them. Once we’ve crafted our irresistible offer, we reach out to people and present that offer to them. If you can nail your irresistible offer for your niche, you can get 5-8 clients for every 10 potentials you reach out to. The reason for that is it wouldn’t make sense for them to refuse it – you’re offering to save them time while making them more money and address their biggest headaches that they have with managing the property.

If you want to know more about starting an Airbnb business (even with no experience), developing your niche, reaching out to them about their challenges, or creating your irresistible offer, check out the free training to find out more and access free tools that will be essential to success in an Airbnb business. 

VIDEO TRANSCRIPT:

Hey everyone, its James here and in today's video, I want to talk about the number one most important thing that you need for success in your Airbnb business. Now, after working with hundreds of different students to help them grow Airbnb management businesses all over the world, I've seen a lot of you will do it successfully. And a lot of people run into challenges and I figured that there's there I figured that there's really just one thing that you need to focus on above all else in order to have your business succeed. And so that's what I want to dive into and discuss in today's video.

Now, if you are interested in learning more about the step by steps of exactly how to start this business up, then there is a link down in the description below to a free training that I put together that will help you to do that. I'm going to walk you through in the free training step by step by step exactly how to get started starting with no experience whatsoever, never even having hosted on Airbnb, or maybe you do have experience that's just a bonus and without having to invest any money. on Airbnb in a buying, renting furnishing, anything like that No money down. How do you get started and build this into a recurring five figure a month income stream that you can run passively and really have be successful? How do you do that if you want to learn more, it's all covered in the free training link down below.

Now, to dive in and talk about the one thing, what it is, is an irresistible offer. This is something that I help my clients with every single one of my students, I help them to craft what we call their irresistible offer. And I'll tell you more about exactly what an irresistible offer is, what that means and how you can craft one for yourself inside of this video. So an irresistible offer is basically just the offer that you have for your specific group of clients. Now, your clients are not going to be everyone. The goal here is not to try to be everything to everyone and to try to make your offer as attractive as possible to absolutely every single person or every single person.

Some of the property, the goal here is to focus on a specific group of people with a specific set of needs. So what I mean by this is, for example, real estate investors, that'd be a different niche, or a different group of people you could focus on, then, for example, vacation home owners, those are two different groups of people with two different sets of needs, that real estate investors going to be very focused on returns and want things to be passive and hands off for them, that vacation homeowner is going to be a lot more concerned about their property being well taken care of. And they're going to want regular updates about the status of their property. Those are just two quick little examples of different groups of people with different sets of needs.

Now, what we want to do once we establish who that group of people that we're going to be focusing on is, is the next step is to reach out to people in that niche and figure out exactly what challenges they have exactly what pain points they have exactly what problems they are facing. Now we have specific methods for how to do that. And so again, if you want to learn more about this step by step of what's involved with that, then just check out the link down below to the free training. Once you reach out to those people, and you figured out exactly what their challenges and their needs are, that's when you can start creating your irresistible offer.

Now one of the big huge advantages of Airbnb management, meaning you're managing properties on Airbnb for the owner in exchange for a percentage of the overall revenue is that in most cases, we can already provide massive value to the clients, the property owners that we work with, by helping them to save time and earn more money. There's very few things that people want more than more time and more money. In fact, if I asked you before, I just unveiled that to you. I asked you what are two things that you want more of good chances are, you would have said I want more time and I want more money. There are very few people who don't want that. And that's why some of the most successful businesses in the world had been built around providing those two things to other people to clients.

You know, look at Amazon. Amazon's a great example of this that helps people to save money. Save time, you don't have to go to the grocery store anymore, you can get the cheapest prices and free delivery on Amazon, save yourself time, save yourself money. Uber, same thing, save yourself time not having to call a cab or go walk outside and hail one, you can just request one on the app on your phone. It also cuts down the cost because it's less expensive than than taxi cab. And so you're going to save time and save money, get just two examples of very, very successful company. So the most successful in the world, in fact, that have really made a business around saving people time and saving them money. So goes to show that you have a business that helps people to earn more money and that save them time, you're going to have a really great starting point in terms of adding massive value to your customers.

Now obviously, we can do that with every new property management because we're going to take everything off their plate, and we set up systems so it's not bogging us down with all the work so that now they're not going to have to take care of things like messaging guests, organizing cleaners, all that sort of stuff that comes along with having a property list on Airbnb, we can also help them to make more money on their listing, even net of our management fees in most cases, because we can do things to really optimize performance on their listing, making sure they have the right listing headline, the right listing, description, the perfect photos, making sure that we have our pricing, set property, all these different things that we can do in order to maximize the overall returns on their property, make sure they get booked out all the time at the best rates.

Now again, if you want the step by step walkthrough for exactly how to do that exactly how to set up the perfect listing description, the perfect headline properly set prices, get the right photos, all that sort of stuff. Then again, just check that out in the free training that's linked down below in the description. Now, in addition to that, we're also going to want to tailor our irresistible offer to our specific niche. That's why we went and did that work of reaching out to these people and figuring out what their specific challenges are and pain points were in the first place. What we can then do is take the information we've gathered there and figured out what the solution are two The most common recurring problems, we're gonna start to see themes come up, where time and time again, the people that we talked to are saying they have problem a problem a problem a, or they have challenge B, challenge B, challenge B.

And so what we can then do is turn around and craft an offer that specifically speaks to those challenges and addresses them and make sure the property owner knows that we're going to be able to solve them for them. Then what we do once we've crafted that we've packaged them neatly into a really nice, irresistible offer, we basically just have to reach out to people and present that offer to them. The more people we can present this to the better, obviously, but this is where we really get scale is because most of the clients that I work with who really nail this, you're able to get a 50 to 80% conversion rate on the meetings that you have with property owners, meaning that if you reach out and you're able to meet and sit down with 10 property owners, then you're going to get five to eight new properties on under management, meaning that you're going to be earning at that point a full time.

Time income more than likely for managing properties on Airbnb after only meeting with 10 people, right? Imagine that you're meeting with 10 people, five or eight of them say yes. And now you're at a full time income from hosting. Now the reason for that is because you've really nailed your irresistible offer, you're going through them and making them an offer that they simply cannot refuse. It just wouldn't make sense for them to refuse it. You're offering to save them time while making them more money and address their their biggest headaches that they have with managing the property. And you do that only by crafting that irresistible offer properly.

Now, again, do you want a step by step four, exactly how to do all this, how to go through and figure out that irresistible offer. You know how to actually provide that kind of value to your clients. And also you want training on exactly how to reach out and find these property owners in the world and how to put that offer in front of them and actually go about bringing their property under management go with all the logistics of actually setting it up and doing all that all that stuff is covered in The free train, that's the link down below. So I highly recommend checking that out, we're also going to give you a few tools that will help you to show your value to the clients and show clients exactly how much potential they have on their property.

And so we're going to give you a couple of free tools, when you register for the training and you're attended, we're gonna use some free tools that will help you to get started along that path and help you to really show this stuff to clients as well. So highly recommend checking that out if you want more details and more information on all this stuff. But that really is the number one thing you'll never succeed. Without that you won't ever succeed in growing your business. If you don't nail that irresistible offer. The reason is that you're going to have a really challenging time getting clients and ultimately, you're never going to be able to keep them long enough to really make it worth your while. Because if you don't understand what people's challenges are, that you're that you're helping, then you're never going to be able to communicate the value that you bring to the table.

And then even if you do somehow get lucky and get a client under management, they're not going to want to stay with you because you're not actually going to be providing the Kind of value that they're looking for, you're not going to be solving the problems that they really have in their day to day lives with managing their properties. So that's going to make everything a lot more challenging, a lot tougher to grow. And you're not going to be able to build up a substantial monthly recurring income. One of the great things about this business, when you really nail this aspect of it is that you have clients staying around with you for 1234 years into the future. So every new client you bring on isn't just paying you for one month, they're adding to your monthly recurring income stream. So suddenly, you've met with those 10 clients, you've got those five or eight properties on our management. And now suddenly, you have a recurring monthly income stream for years into the future that's going to provide you no benefit to you for years to come.

Every time you add a new property, you're adding to that existing income stream, and you're just increasing the amount of money that you're going to be earning next month, and the months that follow. So that's the real advantage here. It's not just it's gonna make things easy. Easier to grow in the in the short term. And we'll do that once you really nail this. But it's also the long term, you're going to build a lot more sustainability into your business, it's going to have a lot less ups and downs, because you're just going to be able to predictably deliver real results to your clients.

And in my opinion, that's the only way to have a business with any kind of real longevity to it. If you're really creating value and you're making your clients lives better, you're improving their lives and everything is better with you than without you. That's the only way that you're going to create a business that's actually going to last long term. And focusing on some trend or some fad of the month isn't going to get you there. But if you build a business that provides real value to real clients, and that follows the you know, follows the lead of companies like Amazon and Uber in delivering massive value by helping people to save time and make more money, then you're going to build a really strong business long term. So that's something that you're interested in doing that again, I do highly recommend checking out the free training link down below that gonna walk you through step by step by step exactly how to build this type of business for yourself in your area, wherever you might be located.

Whether you're located in a country where things aren't going well or things aren't going well right now, you can do do this completely remotely. That's another one of the great, amazing benefits of this business model. And so this training down below that's in the in the description that's going to show you exactly how to do this for yourself. And I'm also going to give you a couple of free tools that are going to help you to do this as well help you to get started and help you to show clients how much value you actually bring to the table by showing them how much additional money they can be earning on their properties. So again, all that is linked down the description below. So I highly recommend you check that out. If this is something that you're interested in doing for yourself.

As always, if you're new to the channel here, please consider subscribing we post two new videos every single week with Erling to all things Airbnb so if you are interested in hearing when we publish new videos and just go ahead and subscribe to the channel to be notified when we post new videos. And then also if you enjoyed this video, if you got into value from it if you take a quick half a second and just click that like button, so if you wouldn't mind, just click that like button, it really helps me out helps the channel to grow. So as always, I really appreciate you being here and I'll see you in the next video.

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