In this episode of The Heads In Beds Show, we're talking all things TRUST and what stakeholders can do in the industry to build or destroy that trust. 

⭐️ Links & Show Notes

• Paul Manzey 
• Conrad O'Connell
• Conrad's Book: Mastering Vacation Rental Marketing
• Conrad's Course: Mastering Vacation Rental Marketing 101

🔗 Connect With BuildUp Bookings

• Website
• Facebook Page
• Instagram

🚀 About BuildUp Bookings

BuildUp Bookings is a team of creative, problem solvers made to drive you more traffic, direct bookings and results for your accommodations brand. Reach out to us for help on search, social and email marketing for your vacation rental brand.

In this episode of The Heads In Beds Show, we're inspired by the list from Xavier Helgesen on "what to look for when buying a business" and adapt it to the vacation rental industry.

Full list credit: via Xavier Helgesen

1. Owner operated businesses are super efficient. Owner does six jobs. You will probably spend more to professionalize.
2. Only buy from people who have demonstrated values of honesty and integrity throughout the process.
3. Stock purchases should be at least 25 % cheaper than asset purchases. You can’t write off the acquisition price plus you assume historical liabilities.
4. Adjusted EBITDA ≠ EBITDA ≠ cash flow. Look for cash flow.
5. Look for rich owners.
6. Look for businesses that have survived multiple economic cycles.
7. Make sure you are not in a commodity business.
8. Everything is negotiable. We have done 90 % seller financing three times.
9. Everyone wants a raise after you take over.
10. Make sure management only gets paid bonuses when they distribute cash flow to owners.
11. Pay for a really good, but very efficient, lawyer.
12. Pay for Quality of Earnings even on small deals.
13. The best way to find a CEO for a business is to ask the seller who has asked about buying it in the past.
14. Look for the smallest, weirdest niches. Less competition, greater margins.
15. If you find a good enough deal, the capital will find you.
16. Don’t underestimate how little you know about any given industry. Find an expert to help you.
17. Businesses with real estate offer lots of creative financing opportunities.
18. An owner who works “10 hours a week” is still doing five people’s jobs. They are the world expert in their business.
19. Professionalizing a business with no management in place is probably too hard unless you are running it.
20. Understand the working capital situation deeply and as a first order of business. The working capital adjustment can be a huge adjustment in price.
21. Don’t incentivize anyone to close deals. You want them more excited to kill a deal – this means they will speak up if something feels wrong.
22. Look at duration of employment of employees. Lots of turnover indicates a toxic environment.
23. Don’t take single-channel risk (e.g., Meta marketing).
24. Share customer concentration risk with the seller through revenue shares or forgiveable notes.
25. Underwrite your downside like a lender. Could you sell the business or its assets to at least pay back the debt if you need to?
26. Don’t fall too in love with the business. You’ve always got to be ready to walk away.
27. Honor your word even if it costs you money. Once trust is lost with a seller, it’s over.
28. Honor the owner/founder’s legacy after you close.

⭐️ Links & Show Notes

• Paul Manzey 
• Conrad O'Connell
• Conrad's Book: Mastering Vacation Rental Marketing
• Conrad's Course: Mastering Vacation Rental Marketing 101

🔗 Connect With BuildUp Bookings

• Website
• Facebook Page
• Instagram

🚀 About BuildUp Bookings

BuildUp Bookings is a team of creative, problem solvers made to drive you more traffic, direct bookings and results for your accommodations brand. Reach out to us for help on search, social and email marketing for your vacation rental brand.

In this episode of The Heads In Beds Show, the duo asks this question: what is the #1 thing holding my vacation rental company back from growth? 

Part II of this episode series. Go back 1 episode to find part I!

⭐️ Links & Show Notes

• Paul Manzey 
• Conrad O'Connell
• Conrad's Book: Mastering Vacation Rental Marketing
• Conrad's Course: Mastering Vacation Rental Marketing 101

🔗 Connect With BuildUp Bookings

• Website
• Facebook Page
• Instagram

🚀 About BuildUp Bookings

BuildUp Bookings is a team of creative, problem solvers made to drive you more traffic, direct bookings and results for your accommodations brand. Reach out to us for help on search, social and email marketing for your vacation rental brand.

In this episode of The Heads In Beds Show, the duo asks this question: what is the #1 thing holding my vacation rental company back from growth? 

⭐️ Links & Show Notes

• Paul Manzey 
• Conrad O'Connell
• Conrad's Book: Mastering Vacation Rental Marketing
• Conrad's Course: Mastering Vacation Rental Marketing 101

🔗 Connect With BuildUp Bookings

• Website
• Facebook Page
• Instagram

🚀 About BuildUp Bookings

BuildUp Bookings is a team of creative, problem solvers made to drive you more traffic, direct bookings and results for your accommodations brand. Reach out to us for help on search, social and email marketing for your vacation rental brand.

In this episode of The Heads In Beds Show, the guys DEBATE the content creation benefits. With AI overviews stealing a ton of your traffic, does it even make sense to take the crumbs of clicks that are left?

⭐️ Links & Show Notes

• Paul Manzey 
• Conrad O'Connell
• Conrad's Book: Mastering Vacation Rental Marketing
• Conrad's Course: Mastering Vacation Rental Marketing 101

🔗 Connect With BuildUp Bookings

• Website
• Facebook Page
• Instagram

🚀 About BuildUp Bookings

BuildUp Bookings is a team of creative, problem solvers made to drive you more traffic, direct bookings and results for your accommodations brand. Reach out to us for help on search, social and email marketing for your vacation rental brand.

In this episode of The Heads In Beds Show, we ask what most don't: why in the world do guests even CHOOSE to book a vacation rental over a hotel in the first place? How can you use this information to your advantage and let guests pick your property (and pay a premium to do it)? 

⭐️ Links & Show Notes

• Paul Manzey 
• Conrad O'Connell
• Conrad's Book: Mastering Vacation Rental Marketing
• Conrad's Course: Mastering Vacation Rental Marketing 101

🔗 Connect With BuildUp Bookings

• Website
• Facebook Page
• Instagram

🚀 About BuildUp Bookings

BuildUp Bookings is a team of creative, problem solvers made to drive you more traffic, direct bookings and results for your accommodations brand. Reach out to us for help on search, social and email marketing for your vacation rental brand.

In this episode of The Heads In Beds Show, we replay a webinar between Conrad and Ben Day of Jetstream to talk all things direct bookings vs new OTA listings for bookings, launching, how to fix dead/zombie listings and a LOT more.

⭐️ Links & Show Notes

• Paul Manzey 
• Conrad O'Connell
• Conrad's Book: Mastering Vacation Rental Marketing
• Conrad's Course: Mastering Vacation Rental Marketing 101
• YouTube Webinar Replay Video
• Ben Day
• Jetstream

🔗 Connect With BuildUp Bookings

• Website
• Facebook Page
• Instagram

🚀 About BuildUp Bookings

BuildUp Bookings is a team of creative, problem solvers made to drive you more traffic, direct bookings and results for your accommodations brand. Reach out to us for help on search, social and email marketing for your vacation rental brand.

In this episode of The Heads In Beds Show, we dive into the factors that drive DEMAND in your markets and attempt to break apart what creates and drives demand. 

⭐️ Links & Show Notes

• Paul Manzey 
• Conrad O'Connell
• Conrad's Book: Mastering Vacation Rental Marketing
• Conrad's Course: Mastering Vacation Rental Marketing 101

🔗 Connect With BuildUp Bookings

• Website
• Facebook Page
• Instagram

🚀 About BuildUp Bookings

BuildUp Bookings is a team of creative, problem solvers made to drive you more traffic, direct bookings and results for your accommodations brand. Reach out to us for help on search, social and email marketing for your vacation rental brand.

In this episode of The Heads In Beds Show, we dive into the "new world" of AI Search trends and all of the new terms popping up. Is there a shift ongoing with your SEO efforts to nail down AI powered LLM searches? If so, listen in for all of the details. 

⭐️ Links & Show Notes

• Paul Manzey 
• Conrad O'Connell
• Conrad's Book: Mastering Vacation Rental Marketing
• Conrad's Course: Mastering Vacation Rental Marketing 101
• Rand Fishkin Podcast

🔗 Connect With BuildUp Bookings

• Website
• Facebook Page
• Instagram

🚀 About BuildUp Bookings

BuildUp Bookings is a team of creative, problem solvers made to drive you more traffic, direct bookings and results for your accommodations brand. Reach out to us for help on search, social and email marketing for your vacation rental brand.

In this episode of The Heads In Beds Show, we replay a webinar between Conrad and Steve Trover - CEO of Better Talent - of all things hiring, agency vs freelancer, marketing teams, margins of your business and more. 

⭐️ Links & Show Notes

• Paul Manzey 
• Conrad O'Connell
• Conrad's Book: Mastering Vacation Rental Marketing
• Conrad's Course: Mastering Vacation Rental Marketing 101
• YouTube Webinar Replay Video
• Better Talent

🔗 Connect With BuildUp Bookings

• Website
• Facebook Page
• Instagram

🚀 About BuildUp Bookings

BuildUp Bookings is a team of creative, problem solvers made to drive you more traffic, direct bookings and results for your accommodations brand. Reach out to us for help on search, social and email marketing for your vacation rental brand.