Slick Talk: The Hospitality Podcast
Leading Yourself Before You Lead Others | Caleb Hannon
Wed Jul 19 2023Description
The episode covers a mindset shift towards focusing on staff, Caleb Hannon's journey in the vacation rental industry, growth and investment in the company, strategic growth and criteria for properties, investment and team focus, behavioral changes and benefits of niche business, destination marketing and podcast launch, combining aspects of Staling Norman and reflection, and concluding thoughts on reflection.
Insights
Focus on Staff
The speaker had a mindset shift and recognized the need to prioritize their staff. They reflected on their behavior and realized they were not giving enough attention to their team.
Journey in Vacation Rental Industry
Caleb Hannon stumbled into the vacation rental industry after working in sports, university, and ministry. He eventually became COO of Stay Lake Norman after taking a job managing properties during COVID.
Growth and Investment
The company experienced significant growth, doubling its staff size within the first year. The speaker and his wife invested their retirement savings into the company, showing their commitment to its success.
Strategic Growth and Criteria
The company has strict criteria for the properties they take on, focusing on luxury homes. They prioritize strategic growth that aligns with their operational capabilities and consider factors like scalability and investment potential.
Investment and Team Focus
Investment is taken seriously, ensuring properties will gain a return. The company works closely with investors to find suitable properties and avoids over-capitalization. The speaker's personal shift after financially committing to the business highlights their dedication.
Behavioral Changes and Niche Business
The speaker transitioned from an aggressive mentality to a more open and receptive approach. They took actionable steps to change behavior and learned about the benefits of being in a niche business.
Destination Marketing and Podcast Launch
The Lake Norman Experience podcast has been launched, showcasing the best businesses in the area. It aims to provide destination information for guests when booking accommodations.
Combining Aspects of Staling Norman and Reflection
The episode explores combining various aspects of Staling Norman into one experience and using digital marketing to grow companies. The speaker reflects on the satisfaction of being a dad and the impact of past experiences on success.
Reflection and Conclusion
Many people are reflecting on their lives and evaluating time, energy, and input versus output. The guest suggests visiting Stalingormand.com for more information. The host expresses regret for not meeting the guest in person.
Chapters
- Mindset Shift and Focus on Staff
- Journey in the Vacation Rental Industry
- Growth and Investment in the Company
- Strategic Growth and Criteria for Properties
- Investment and Team Focus
- Behavioral Changes and Benefits of Niche Business
- Destination Marketing and Podcast Launch
- Combining Aspects of Staling Norman and Reflection
- Reflection and Conclusion
Mindset Shift and Focus on Staff
00:00 - 07:12
- The speaker had a mindset shift in their business and recognized the need to focus on their staff.
- They reflected on their behavior and realized they were not prioritizing their team.
- Minute, a noise monitoring company, offers additional features like security, motion detection, window break detection, alarm recognition, crowd detection, and weatherproof sensors.
- They are also developing a feature to detect unauthorized smoking.
Journey in the Vacation Rental Industry
06:47 - 13:35
- Caleb Hannon shares his journey in the vacation rental industry and how he became COO of Stay Lake Norman.
- He stumbled into the industry after working in sports, university, and ministry.
- During COVID, he took a job managing properties and eventually became part owner of the management company.
- He reflects on the tough period of being without a job and the decision to shut down the non-profit he was involved with.
Growth and Investment in the Company
13:10 - 20:12
- The speaker had a conversation with the company and reached an agreement where he would have a stake in the company's growth.
- The conversation happened about six months after he started working for the company.
- The company experienced significant growth, doubling its staff size within the first year.
- In January 2022, the speaker and his wife invested their retirement savings into the company.
Strategic Growth and Criteria for Properties
19:44 - 26:28
- The company has strict criteria for the properties they take on and operate within.
- They focus on luxury homes and position themselves well for economic travel deterioration.
- They have a niche in which they excel and choose not to deviate from it.
- The founder's father advised him to learn everything about the company before making changes.
Investment and Team Focus
26:01 - 33:01
- Investment is taken seriously, ensuring properties will gain a return
- Working with investors from start to finish to find suitable properties
- Avoiding over-capitalization and aiming for a good return on investment
- Personal shift after financially committing to the business
Behavioral Changes and Benefits of Niche Business
32:33 - 39:24
- Transition from an aggressive mentality to a more open and receptive approach
- Taking actionable steps to change behavior, such as turning away from the computer and phone when someone enters the office
- Using triggers, like seeing the numbers 11 or 1111, to pause and refocus on gratitude and goals
- Learning about the benefits of being in a niche business
Destination Marketing and Podcast Launch
38:56 - 46:04
- The Lake Norman Experience podcast has been launched, focusing on destination marketing for vacation rentals in the Lake Norman area.
- The podcast aims to showcase the best businesses in the area and allow them to share their own stories.
- The episodes will cover recommendations on where to eat, what to drink, and how to play on Lake Norman.
- The host believes that an audio version of destination information can be a decision maker for guests when booking accommodations.
Combining Aspects of Staling Norman and Reflection
45:34 - 52:41
- Combining various aspects of Staling Norman into one experience
- Using digital marketing to grow companies
- The satisfaction of being a dad and seeing children grow
- Reflecting on past experiences and their impact on success
Reflection and Conclusion
52:23 - 55:13
- Many people are reflecting on their lives and evaluating time, energy, and input versus output.
- The guest suggests visiting Stalingormand.com to get in touch or learn more about them.
- The podcast link will be included in the show notes when it is released in June.
- The host expresses regret for not meeting the guest in person.