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In this episode, Rashmi (https://x.com/ChaiAndCabin) shares her incredible journey from starting her first business at 21 with just $20,000 to building a hospitality empire.
Listeners will gain insights into how she successfully manages a diverse portfolio including restaurants, short-term rentals, and hotels, all while working less than 10 hours a week. Her story is a testament to the power of resilience, strategic planning, and leveraging community support.
Rashmi delves into the specifics of how she turned a small sandwich shop into a thriving B2B wholesale business and later expanded into the hospitality sector.
She discusses her unique approach to systematizing business operations to achieve high net margins, emphasizing the importance of effective management and automation. This conversation offers valuable lessons for anyone looking to scale their business efficiently and profitably.
Additionally, Rashmi's experiences as an immigrant navigating the American business landscape provide a compelling narrative of determination and adaptability. She highlights the importance of taking calculated risks and the rewards of betting on oneself. Listeners will leave inspired by her story and equipped with practical strategies to apply in their entrepreneurial endeavors.
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01:39 Rashmi's Journey: From Sandwich Shop to Real Estate
04:38 Overcoming Challenges as an Immigrant Entrepreneur
10:32 Expanding the Business Portfolio
12:47 Navigating the COVID-19 Pandemic
14:41 The Power of Community and Support
19:59 Exploring Business Passions
20:34 Principles for Business Success
20:53 High Cash Flow Strategies
22:03 Hospitality Management Insights
23:58 Customer Acquisition Tactics
27:33 Starting in Short Term Rentals
31:06 Challenges and Growth
34:16 Rapid Fire Questions
36:49 Conclusion and Final Thoughts
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Nikonomics - The Economics of Small Business