Short Term Rental Secrets Podcast

Ep 198 - From 8 to 120 Listings in 10 Months with Rashmi Bhat

Jul 15, 2024

Rashmi Bhat, a dynamic entrepreneur, transitioned from running a sandwich shop to managing over 120 short-term rental units and multiple hotels. She shares her inspiring journey, discussing the challenges of scaling her business, particularly during a tumultuous Christmas Eve. Rashmi emphasizes the importance of leveraging technology, strategic hiring, and social media in the hospitality industry. She shares valuable lessons on systemizing operations and building a strong team, underscoring the growth mindset necessary for entrepreneurial success.

42:25

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Episode guests

Rashmi Bhat

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Episode notes

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Quick takeaways

Rashmi Bhat's transition from the restaurant industry to managing over 120 short-term rental units highlights the importance of adaptability and strategic planning for entrepreneurs.

Leveraging technology and building an effective team through delegation and operational systems are essential for scaling a hospitality business efficiently.

Deep dives

Importance of Leadership and Mindset in Business Growth

Focusing on leadership and mindset can significantly contribute to faster business growth. The conversation highlights that while hands-on management is crucial, dedicating time to research industry trends and cultivating a strong mindset is equally vital. The guest emphasizes that genuine leadership and the right mindset are interconnected, suggesting that nurturing these attributes can lead to better decision-making and ultimately enhance business performance. This approach has enabled her to effectively grow her business while maintaining a balanced life.

Intro

4min

Scaling Challenges: A Christmas Eve Story

14min

Unlock Free Resources in the Short Term Rental Community

2min

Navigating Technology in Hospitality Management

13min

Embracing Sacrifice for Entrepreneurial Growth

2min

Journey of Transformation in the Short-Term Rental Business

6min

Mike and E dive deep into the inspiring journey of Rashmi Bhat, a dynamic entrepreneur who transformed her career from running a sandwich shop to managing over 120 short-term rental units and multiple hotels. Rashmi shares insights from her leap into the real estate and hospitality industry, discussing pivotal moments, systemizing her business for scalability, and the relentless pursuit of her goals. Rashmi also explains how she leverages technology and virtual assistants to maintain operations efficiently and highlights the importance of social media in today's hospitality market. The episode emphasizes key strategies for entrepreneurs looking to grow their business rapidly without becoming overwhelmed.

Facebook Community - https://www.facebook.com/groups/STRentalsecrets

00:00 Introduction and Industry Insights

00:23 Special Guest: Rashmi Bhatt's Journey

01:14 From Restaurants to Real Estate

03:46 Scaling Up: Challenges and Strategies

11:20 The Big Leap: Managing 40 Units

15:25 Entering the Hotel Business

17:33 Building a Strong Team and Tech Stack

21:37 Team Dynamics and Hunger for Growth

22:23 Choosing the Right Tech Stack

23:58 Goals and Future Plans

25:04 Bridging Traditional and Modern Hospitality

27:50 Leveraging Social Media and Tech

30:40 Systemizing and Scaling the Business

36:57 Lessons from the Boardroom

40:20 Final Thoughts and Contact Information

Rashmi Bhat's Bio

Rashmi Bhat opened her first restaurant at 21 and loves the hospitality world. In 2020, Rashmo bought her first STR - rehabbed it, and got in on the market in 2021. She found partners and hustled to get up to 6 properties. In 2023, Rashmi joined this STR Secrets Mastermind and grew to manage over 50 doors + 50 hotel doors.

Connect with Rashmi

https://twitter.com/chaiandcabin/

www.instagram.com/chaiandcabins/

https://www.youtube.com/@ChaiAndCabins/

Connect with the Hosts

https://linktr.ee/mikesjogren

Emanuele Pani: Clubhouse | Instagram | Facebook | Linkedin

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