How to choose your niche (& avoid the biggest mistake)

Start Growing your
BNB Business Today!

Get inside access to our professional courses, hosting community, and much more!

What's up guys, it's James here and in today's video, I'm going to share with you the number one biggest mistake that I see people making when it comes to building their Airbnb management businesses. My goal is that I hope that this video will help you to avoid this mistake, because I'm also going to share with you the end of the video exactly what you can do to make sure that you don't make the mistake, but you actually use what I'm going to cover here to really ramp up the success of your Airbnb management business and make sure that you get things started on the right foot. Now before we jump into that, I do want to let you know that down below in the description, if you just scroll down a little bit, click on the link, there's a link to a free training that's right completely free to train that's gonna walk you through exactly how I was able to build a six figure income managing other people's properties on Airbnb without buying renting furnishing any properties. Now I've since started using that money to be able to do really cool things like investing in actually buying properties. But this is how it all got started is actually managing other people's properties on Airbnb. Now if you want to learn exactly how to do that, and learn how you can make six figures doing it and replace your full time income, then I highly highly, highly recommend that you check out the link in the description down below. That free training is going to walk through every single step involved in the process. So I'd highly recommend that you go down there and check it out, register for the training and grab yourself a spot before it's too late. Now that being said, let's talk about the number one mistake that people make when they're building this type of business and how you can avoid it and use them to share with you to really skyrocket and catapult your success. The number one mistake that I see people making is not niching down enough going in too broad. Now you might be thinking, what does that even mean? Don't worry, I'm going to explain now what I mean by that is a lot of people go into Airbnb management thinking, I'm just going to manage any different kind of property, anyone, they'll give me their property to manage, I want to manage it, and they try to be everything to everyone. Now the reality is that there are different types of property owners there's different types of people that own short term rental properties. And there's all kinds of different types of short term rental properties that people own as well. And so if you try to focus on being everything to everyone, that ultimately you're probably just going to end up being nothing to no one. And I've seen this happen time and time again, which is why with all the students that I work with, I taught teach them number one, the first thing is to pick a niche, and then really get to understand it now all a niche is is one specific group of people that all has the same set of challenges, the same set of needs and pain points that way, because you're going to be focusing on that one specific group that all has the same challenges. When you put together a solution that one solution is going to solve everyone's problems, it's going to do the same, it's gonna be just as valuable for every single person in that group. So that means two things. Number one, it means that you can do the exact same thing for every single property you work with making your business much more scalable, making it a lot less complex, a lot simpler. Number two, it means that you're going to instead of trying to be everything to everyone, you're trying to be something to someone specific, you're focusing on one group of people and you're trying to address their needs and their problems and their challenges and their pain points specifically means that now when you go and you present that offer that's done right, that focuses on exactly what they care most about. Now it's going to be music to their ears, they're going to go wow, has this person understand so well, exactly what my challenges are, this really is like an answer to my prayers. Now there's a whole process that we work through in order to figure this out. And again, if you want to work through that entire process, you want all the different tools and resources for us to do this, then just click the link down the description below and check out that free training. At a high level though, what we're going to do is basically pick that specific group, and there's a few different ways that we define it, I see a lot of people defining it the wrong way. So if you want to learn the right way to define this group, and make sure that you've hit the nail on the head, then again, check out that resource in the description down below, check out that free training, the first step is defining them. And then from there, we then will actually start reaching out to people in this niche in this group of people. And the goal here is not to start getting clients right away. The goal initially is just to ask them questions so that we can better understand exactly what their challenges are, that are specific to them, you know, what are the pain points they have? What are the needs that they have? And so that way we can use that to craft our offer. And we can use that to craft our messaging because once we do that now we're not taking a shot in the dark going, I'm going to offer this and this and this and this hoping that somebody wants it. We're going What do you want, and then we're crafting something based on what the market is telling us that it wants, then later, we can then go and put that in front of people and say, Hey, we have this to offer, how's that sound? And that's where they're going to go, oh my goodness, that sounds incredible. That's exactly what I want. And so that's when people are going to really want to work with us. And I can tell you from experience I've now worked with hundreds of students helping them to grow exactly this type of business. And the students that have really nailed this really gotten a great niche and understand it better than anyone else.
They're the ones that I constantly talk to. And they're saying, James, I've got a lineup of clients that want to work with me, I can't even onboard them fast enough. They're clients of mine that I can reach out to them anytime, no matter when. And they're always telling me, oh God, I've got five clients, or six clients or seven clients that are in the onboarding queue, meaning that we're starting to work with work on onboarding, and we're getting that property ready. And under management, they're just sitting there waiting, like they're really overloaded. It's crazy, they're actually growing faster than they can imagine faster. And they even have the ability to bring these properties on, people are coming to them and saying, hey, I want you to manage my property. And that's what happens when you have a really killer, outstanding service offering, and that you really nail your niche. That's where it all starts is understanding your niche and crafting your offer incredibly well. Now, again, we go through all of this inside the training link in the description down below. And I walked through in way more detail to show you exactly how to define that niche, and what questions to ask to better understand that niche has challenges and pain points and needs. And we also give you tools and resources and show you exactly how you can then use that information to craft a really compelling offer, and to craft the right messaging to present that to people. So they're going to be reaching out to you and want to set up an appointment to talk to you and to have you manage their property. So if you want that, then just again, check out the link in the description down below. That's going to give you that free training, it's going to cover all that in way more detail. This is again, the number one mistake that I see people making is missing out on this because when you miss out on this, it means that you're set back tremendously in your performance, it means that ultimately, you're going to have a way harder time bringing on every single client. So you're going to have to spend more time and energy on growing your business. Whereas if you nail this thing, then now suddenly your business is going to take on a life of its own where it's going to be growing without your inputs without your energy, it's going to have that kind of snowball effect, then suddenly you can focus your time and energy on growing the business in more in easier ways. Let's say you can do things like for example focusing on revenue optimization, you can focus on adding more value to your clients and putting more money in your pocket as opposed to having to hustle to bring on more clients. And the other thing that's great is you can just focus on relaxing on living your life. This is a really, really great lifestyle business it allows you to travel allows you to spend time with your family, but not if you do it the wrong way. So again, if you want to build this business the right way, if you want to build this business quickly and get your results as quickly as possible, then check out that link in description down below. Make sure you register for the free training. I'll see you inside and if you liked this video, then make sure you hit the like button and helps me out tremendously more than you'll ever know with growing this channel. So please take a quick second it really doesn't take long just hit that like button. I really do appreciate it. And if you're new here to the channel and you're not yet subscribed, make sure you hit that subscribe button to stay up to date with all the new videos we post twice every single week. I'll see you in the next video.