The old saying “perhaps what you’re looking for is right in front of you” rings true here.
It’s astonishing how the digital world has influenced our entire mechanics of thinking, to the point where we fail to spot the obvious signs of success.
For example, the majority of aspiring short lets & serviced accommodation entrepreneurs have no idea of how they’re ignoring resources that are at arm’s length from them – and fall into the trap of victimising themselves instead.
So, before you trick yourself into believing that you’re not cut out to be successful as a franchisee with Luke Stays, because you simply “don’t know” how to approach cold investors, business owners, and property landlords – then let us remind you, that you probably have the contact details of these people in your smartphone right now.
It’s just a case of realising… and then asking, of course.
Find out how by reading today’s eye-opening article.
Busting the “Knowledge-Over-People” Myth
For decades, and with the risk of being criticised, some of the greatest leaders have been teaching us that it’s not “what we know; it’s who we know”.
This school-of-thought has been challenged by academics, education providers, and those who believe knowledge is power. And while intellect and having a grasp of your subject matter IS wildly important – a lot of the time, your luck in life depends on your pool of contacts.
Whether this is fair or not, we cannot really decide. However, it is a fact of life.
If you’re still in two minds about this, then imagine there’s a new job position opening up in a prestigious company. There are two final candidates left, both with equally impressive backgrounds and work experience. In this case, do you think the recruiter would feel drawn to the candidate whom they have known personally, or the other candidate who is largely a stranger?
However diplomatic the recruiter might be, their subconscious mind would naturally steer towards the candidate they already know (because this familiarity has already bred a level of trust).
It’s therefore worth remembering that the network that you’ve unknowingly built around you, is probably providing you with a huge opportunity for success in the industry. This is precisely why the rise of community building and networking events has become even more apparent in our industry. It’s because they work; they’re incredible for business.
You Don’t Ask, You Don’t Get
Let’s take a simple one to start off with.
As a franchisee with Luke Stays, you’ll be encouraged to make deals with property landlords so that you can manage their properties and increase your monthly income in this way.
It’s likely that you already know a number of people who own properties that they’re currently letting out “conventionally” to tenants – or perhaps you know people who are related to or are friends with these kinds of landlords.
Something as simple as a social media post asking the question, “Do you know anyone who XXX…” can help you leverage the contacts you already have. This is an excellent way of using your resources before going much further afield, and we’re in most cases, you WILL find a lead.
The same approach can be used for investors and other people who can help you grow your short lets & serviced accommodation business. The trick is not to pitch ideas aggressively to others (this can be very off-putting); but simply ask the question and take it from there.
Don’t forget, it’s important to keep building your community while nurturing the relationships you already have – and remembering to “give back”, too.
Networking In Serviced Accommodation Industry
An effective way of doing this is continuing to engage with the right people online and joining the right groups and communities on Facebook. As a franchisee with Luke Stays, you’ll already be part of a growing network of like-minded people – and this will naturally open more doors and opportunities for you.
To get in on a business opportunity that values connections as much as it does knowledge – and can teach you to leverage your contacts, too – send us a message and we’ll talk you through the first steps of becoming a franchisee.