How to scale to 7000 properties with Steve Milo from VTrips

Don’t Forget to Subscribe! So you’ve made the decision to grow your business – congratulations! Now get ready for the next challenge: how to scale your business for maximum growth. Even if you manage to acquire more property, and fill all your rooms, you’ll soon have another problem: you have to deliver an exceptional experience to all those new guests. By focusing on scaling rather than merely “improving your company’s profitability”, you can generate greater revenue without ramping up costs or diminishing the guest experience along the way. If you want to scale your business into a profitable entity that continues to grow with or without your fingerprints all over every department, you’ll need to complete the transition from employee to owner. But that’s easier said than done. 📋 Chapters! 00:00 How to Scale a Business Sustainably For Lasting Growth with VTrips CEO Steve Milo/Scaling in Difficult Markets.00:44 Intro and background to Milo and VTrips.02:02 What was the strategy behind VTrip's growth to 7000 properties?03:27 How to build up credibility with banks?04:07 How do you create a scaling plan?06:35 What is the difference between Growing the Business vs. Scaling the Business?07:13 What has been Vtrip's competitive advantage?11:54 Should you go with private equity or venture capitalists or hedge funds?14:38 How to build a culture of profitability.15:21 How to run a profitable company during a recession.17:53 When is it time to scale?19:02 Who to bring into the team for effective scaling?21:54 What are the important questions to ask yourself before you start scaling?25:26 What are the main fundamentals you need to be able to scale your business?29:32 What property management system do you need when you want to scale?31:14 What staff does one need at 50, 500, or 5000 properties?35:08 How to maximize profits in 2023, especially with continuing inflation.37:38 What should you consider when you want to exit? 38:20 How much profit do you need to be making to sell well? Show Links https://www.linkedin.com/in/stevemilo/https://vtrips.com/#VTrips #howtoscale #bookdirect▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬🥊Hotels - BNBs - STR Owners!Need more direct bookings or a brand new website? We double direct bookings! Book an appointment! We get results! https://www.ibooked.online​​​​​​​​​​​🥊▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Don't forget to hit that subscribe button! This also keeps us going and creating more useful content for free! ACCOMMODATION OWNERS AND MANAGERS FREE RESOURCES! 📧Join the mailing list for freebies and critical industry updates: https://bit.ly/accommodationtipsandtricks🌍The Accommodation Owners and Managers Facebook Group: https://bit.ly/AMoFacebookCommunity🗨 Connect with Bart Sobies: https://www.ibooked.online/bart/🎙 Subscribe to the podcast to listen later: https://www.theaccommodationshow.com ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Disclaimer: *All content on this YouTube channel, Podcast or post reflects my own and guests opinions and should NOT be taken as legal advice, financial advice or investment advice. Please seek out guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links. Affiliate Disclaimer: This blog, podcast & youtube channel; will occasionally contain affiliate links, which means I receive a small commission on a purchase without additional cost to you, if you buy something through my links. The purpose of this show is to educate viewers and share everything I know about improving your accommodation, STR and AirBNB business. I do believe in the products and services that we link to and that you may benefit from them.