Workflows & Espressos

Navigating the Challenges of Scaling a Small Business

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In this episode, Meaghan discusses the challenges and strategies of scaling a small vacation rental company into a medium-sized business. She shares her personal experiences and offers tips on cleaning up finances, hiring an HR person, getting out of the way as the owner, making strategic decisions about property acquisition, maintaining transparency and accessibility, and preserving company culture and traditions.


Takeaways:

  • Clean up your finances and create a budget for forward-looking expenses and income.
  • Hire an HR person and establish policies and processes to ensure compliance and employee well-being.
  • Get out of the way as the owner and focus on leading the company in a strategic direction.
  • Define your target market and determine the number of employees needed to support your growth.
  • Be transparent with your strategy and communicate company goals to your team.
  • Maintain accessibility and avoid excessive red tape to preserve company culture and employee morale.


    • Links:

    Apple Podcasts - Link

    Spotify - Link

    Hospitality.FM - Link

    Connect with Meaghan | Ask Meaghan

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    Workflows & Espressos is part of the Hospitality.FM podcast network and a Hospitality.FM Original. If you like this podcast, then you'll also love our other podcasts directly on Hospitality.FM!

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