Mike & Mike Ep 3 - Cohosting Blueprint for Beginners
Aug 30, 2023
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Learn the fundamental principles of cohosting in the short-term rental business. Understand the importance of setting clear goals and purpose, and differentiate between different types of investors. Discover how to find your niche in the market and build relationships in the hospitality insurance industry. Get motivated with a blueprint for beginners and stay focused on your goals.
Defining goals and financial targets is crucial before starting a cohosting business.
Identifying the market and client avatar is essential for success in the cohosting business.
Deep dives
Getting clear on your goals
Before starting a co-hosting business, it is crucial to define your goals and what you want to achieve. This includes determining your financial targets and the purpose of starting the business.
Setting up your business
To establish your co-hosting business, you need to set up a formal company structure, such as an LLC, get an EIN number, and ensure you have the necessary insurance. It is important to keep this process simple and not spend excessive time on it.
Identifying markets and client avatar
Identifying the market and client avatar is crucial for success in the co-hosting business. You need to decide which markets you want to target and the type of clients you want to serve. Understanding your ideal client and their goals will help you tailor your services and conversation accordingly.
Creating credibility and spreading the word
Establishing credibility through a credibility pack and elevator pitch is essential in attracting potential clients. This includes summarizing your expertise, systems, and unique selling points. Additionally, joining or starting meetups, building relationships with real estate agents, and participating in relevant Facebook groups can help spread the word about your co-hosting business.
Are you diving into the world of cohosting? Whether you're a beginner or seasoned host, having a solid blueprint can be your key to success. Join us as we decode the fundamental principles of cohosting, guiding you through each step of the process.