The Good Endeavor Business Show

Hosted by Mark McDaniel

Business Management

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Mar 2024

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About the show

Get passive income through short term rentals, and decide if you’re cut out for managing it yourself. If managing properties fills you up, you’ll learn how to build a management business. If it doesn’t, you’ll learn how to hire the right one. Airbnb, VRBO, STR, whatever name you know it by, you can make property management a good endeavor and be fulfilled while keeping the booking calendar filled as well. I’m Mark McDaniel. I’m not a real estate agent. I knew nothing about property management when my partners and I sold an IT company in 2015. I bought a 4 bedroom vacation rental in Tennessee’s Great Smoky Mountains – with an indoor pool and what feels like a hundred mile view. But I quickly learned the way my first property manager worked, didn’t work for me. The second, third, and fourth were significantly…no better. With the idea of being a passive real estate investor now out the window - that 100 mile window - I applied my key principles and unlocked the secret to maximizing the value of rental properties, keeping the calendar full, and being satisfied and fulfilled by my work. The techniques you’ll hear on The Good Endeavor Short Term Rental Show can be applied to any business, but they sure do make short term rentals more enjoyable for the host, more enjoyable for the guests, and more profitable for the owner.

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32 recent

March 7, 202439 min

Running a Franchise like a Business Owner With Brian Beers

Imagine transforming a family business into a thriving franchise empire; that's the story of Brian Beers, the mastermind behind a multi-million-dollar automotive legacy. Brian joins us to unpack the pivotal moments and strategies that catapulted his family's modest enterprise into a powerhouse with 33 locations. If you’ve considered buying a franchise, this episode is for you. From helping you understand the advantages of acquiring existing franchises, the role of seller financing, and the value of community involvement within the franchise network -> to providing you insights into effective hiring practices, compensation models, and debunking the misconception of inherent profitability in franchises – this episode is PACKED with franchise insights you don’t want to miss out on. Topics Covered: 09:35 From small business owner to $50 million in revenue 12:07 Do all franchises have a playbook on how to be successful? 18:12 Should you hire an operator from the start? 22:07 Owner finance deals selling points and benefits 26:23 Why some people make it and others don’t 32:15 From 0 to 21,000 social media followers And more! About Brian Beers: Podcast - Business with Beers https://podcasts.apple.com/us/podcast/business-with-beers/id1562821011 Twitter - https://twitter.com/brianbeers Connect with Bobby Herrington: Instagram: https://www.instagram.com/bherringtonruns Website: www.205endurance.com Facebook: https://www.facebook.com/bobby.herrington.792 Connect with Mark McDaniel: Website - https://staysimpli.com/ Instagram - https://www.instagram.com/staysimpli/ Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/ Twitter - https://twitter.com/staysimpli TikTok - https://www.tiktok.com/@staysimpli

February 15, 202451 min

How The Car Wash Guy Increased Profits by 70% in 6 Months

Have an interest in a side hustle and some capital to play with? Have you considered the Car Washing business? If so, Kriss Berg, The Car Wash Guy, has got some tips for you. After many failed attempts in the storage business, Kriss decided to buy a car wash business that was underperforming due to lack of attention and upgrades from the previous owners. Small but significant tweaks ranging from adding it to Google Maps to changing the attitude of attendants to focus more on customer experience was all it took to grow revenue and profits by 70% in 6 months, providing a very high return on investment. Join Mark, Bobby, and Kriss on this episode of The Good Endeavor Show to learn more about car washes, their tax benefits, how to recoup your investment quickly, and more. Topics Covered: 03:23 The Car Wash Guy Intro 05:20 Are car washes being overbuilt? 08:06 Is a Car Washing business really passive? 13:01 Car Wash software options 15:49 IRS Tax benefits for a Car Wash business 18:06 Why Car Washes are such a great investment 23:07 Tips for your business And more! Connect with the Car Wash Guy Twitter/ X : https://twitter.com/KrissBergTweets Email: krissbergethon@gmail.com Online Course: www.TaxFreeCashCow.com Connect with Bobby Herrington: Instagram: @bherringtonruns Website: www.205endurance.com Facebook: https://www.facebook.com/bobby.herrington.792 Connect with Mark McDaniel: Website - https://staysimpli.com/ Instagram - https://www.instagram.com/staysimpli/ Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/ Twitter - https://twitter.com/staysimpli TikTok - https://www.tiktok.com/@staysimpli

February 8, 202451 min

Dumpster Rentals, SEO, and Business with the Dumpster Rental Guy

It’s a crazy story that involves a little bit of luck and a whole lot of smarts. Mark and Bobby sit down with Bodhi, the Dumpster Rental guy, a young entrepreneur who was able to not only purchase an existing dumpster rental company but more than double its revenues in just a few years. Through strategic digital marketing and an emphasis on relationships, Bodhi has dominated his local market and built a lucrative side business in SEO. Listen in as Bodhi shares invaluable insights into finding acquisition opportunities, strategies for leveraging SEO, Google ads, and social media to generate massive growth, and avoiding costly mistakes. In This Episode: 00:00 Intro - Getting into the Dumpster Rental business 04:40 SEO recommendations for service businesses 07:30 Low-hanging fruit and when to outsource 12:31 Dumpster Rental operation numbers 19:50 What you need to get into Dumpster Rentals 25:58 Bodhi’s keys to success 40:45 Are Google Ads worth it? Leveraging Google LSAS’s instead And more! Connect with Bodhi, the Dumpster Rental Guy: https://twitter.com/irentdumpsters https://stryker-digital.com/ Connect with Bobby Herrington: Instagram: https://www.instagram.com/bherringtonruns/ Website: https://www.205endurance.com/ Facebook: https://www.facebook.com/bobby.herrington.792 Connect with Mark McDaniel: Website - https://staysimpli.com/ Instagram - https://www.instagram.com/staysimpli/ Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/ Twitter - https://twitter.com/staysimpli TikTok - https://www.tiktok.com/@staysimpli

January 25, 202437 min

Failing Forward With Bobby Herrington

Podcast Update: The Good Endeavor Short-Term Rental Show is expanding with the addition of a new host, Bobby Herrington, and new topics within the entire scope of business (not just short-term rentals). Updated artwork and title coming soon. In this episode: Even the most successful innovators and companies have experienced many failures along the road to success. From Thomas Edison testing thousands of materials for the lightbulb and Dyson going through over 5,000 prototypes, it’s clear that failure is both necessary and inevitable. So why are we so afraid of failure? If you’re experiencing some of this fear today, Mark and Bobby have the strategies you need for shifting your mindset to separate a single failure from identifying yourself as a failure. Viewing failure as an opportunity to gain experience and knowledge is what distinguishes the successful entrepreneurs we all look up to so share this with a friend who might need to hear this today. Topics Covered: 00:00 Failing Forward 00:50 Examples of heroic failures 03:05 Where the fear for failure starts 05:30 The failure identity 08:08 Using failure data to learn 13:45 If this fails, I am a failure 33:15 Changes for The Good Endeavor Business Show And more! Resources Mentioned Relentless by Tim Grover - https://a.co/d/h4TiX4x Amazon Unbound - https://a.co/d/chULdX4 Connect with Bobby Herrington: Instagram: https://www.instagram.com/bherringtonruns/ Website: https://www.205endurance.com Facebook: https://www.facebook.com/bobby.herrington.792 Connect with Mark McDaniel: Website - https://staysimpli.com/ Instagram - https://www.instagram.com/staysimpli/ Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/ Twitter - https://twitter.com/staysimpli TikTok - https://www.tiktok.com/@staysimpli

January 4, 202445 min

Avoiding Trial and Error in 2024 with Bobby Herrington

The New Year is rolling in and you know it’s time to take action in setting goals and navigating success. In this episode, Mark and Bobby will be coaching you on creating a vision for where you want to go and then mapping out practical steps to get there. The key is to start small with achievable daily tasks and surround yourself with mentors who can provide guidance and shortcuts. Metrics are a helpful part of goal setting for measuring your progress, but don't get discouraged if things aren't perfect. Both successes and so-called failures provide learning opportunities. Just start taking action - you'll learn more by doing than by avoiding risks. In This Episode: 00:00 Intro - Practical steps to navigating success 02:30 Goal setting from zero 04:50 Reverse engineering your vision 10:45 Grow confidence in yourself through a clear vision 15:00 The easiest, repeatable next step 28:20 Using metrics to keep you on track to success 33:15 When bigger steps are the better option And more! Connect with Bobby Herrington: Instagram: https://www.instagram.com/bherringtonruns/ Website: https://www.205endurance.com Facebook: https://www.facebook.com/bobby.herrington.792 Connect with Mark McDaniel: Website - https://staysimpli.com/ Instagram - https://www.instagram.com/staysimpli/ Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/ Twitter - https://twitter.com/staysimpli TikTok - https://www.tiktok.com/@staysimpli

December 28, 202340 min

Stepping into your Creative Genius with Bobby Herrington

Bobby is back on the show for part 2 of a Leadership series all about succeeding at work and in life. Today, Mark and Bobby are talking about stepping into your creative genius. What is creative genius? It’s that intersection between your passion, your wiring, and your skillset that together brings the best version of yourself into the world. Learn practical tips for discovering your creative genius, such as creating space for quiet reflection and writing down your strengths, and embracing your authentic self and surrounding yourself with people who compliment your gifts. In This Episode: 00:00 Intro - Stepping into Your Creative Genius 02:39 Understanding Your Zone of Genius 05:43 Practical Tips for Discovering Your Creative Genius 09:43 Balancing Imagination and Reality 12:13 Small Steps to Tap into Your Creative Genius 20:09 Tools and Pathways for Discovering Your Creative Genius 34:37 Building a Team Around Your Creative Genius And more! Resources Mentioned The Ruthless Elimination of Hurry- https://a.co/d/2P0quUI Connect with Bobby Herrington: Instagram: https://www.instagram.com/bherringtonruns/ Website: https://www.205endurance.com Facebook: https://www.facebook.com/bobby.herrington.792 Connect with Mark McDaniel: Website - https://staysimpli.com/ Instagram - https://www.instagram.com/staysimpli/ Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/ Twitter - https://twitter.com/staysimpli TikTok - https://www.tiktok.com/@staysimpli

December 21, 202327 min

Building Momentum with the Flywheel Effect

Did you know that you can plan momentum into your future? It’s called the flywheel effect. The concept of a "flywheel" came from the book Good to Great: Why Some Companies Make the Leap...And Others Don't by Jim Collings. It refers to creating a strategy that gains momentum over time through consistent execution and reinvestment. The key to an effective flywheel is identifying the core driver that will propel it forward, like the guest experience for a short term rental business. But once you know the core drivers, you also need to be mindful of how you’re feeding the flywheel for continued growth, such as reinvesting profits. Bobby Herrington, Pastor, Ultra Marathon Coach and STR business owner, joins Mark today on the show for part 1 of a series on Leadership and the various ways in which it affects your business and life. Tune in to understand how developing a strategic flywheel plan tailored to your specific goals and strengths is key to achieving sustainable success. And to adjust your vision to push you through even the toughest of challenges. In This Episode: 00:00 Intro 01:26 What is a Flywheel 03:55 Flywheel strategy and what to do with profits 10:46 Why you need a vision for your flywheel to work 18:21 Using self awareness to design a flywheel for your life And more! Resources Mentioned Good to Great by Jim Collins - https://a.co/d/6JrApvt Connect with Bobby Herrington: Instagram: https://www.instagram.com/bherringtonruns/ Website: https://www.205endurance.com Facebook: https://www.facebook.com/bobby.herrington.792 Connect with Mark McDaniel: Website - https://staysimpli.com/ Instagram - https://www.instagram.com/staysimpli/ Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/ Twitter - https://twitter.com/staysimpli TikTok - https://www.tiktok.com/@staysimpli

December 14, 202336 min

Stand Out in a Crowded Market with Madeleine Raiford-Holland

Ever wonder how some people get from 0 to 7 figures so quickly? Well, it comes down to how they position themselves against their competition. And that requires unique strategies. Madeline Rayford-Holland, founder of luxury property management company MHM Properties, is on the show today to share some of those unique strategies and how she has grown into seven figures in just a couple of years through a focus on elevated guest experiences. It's a fascinating case study on quickly building a successful short-term rental business from the ground up and will reveal ways to make money you’ve never even thought of. If this is an area you’ve recognized that you need support on, make sure to stick around until the end to learn about Madeline's coaching program. In This Episode: 00:00 Intro 01:10 Creating social media content from pain points and questions 02:40 Using videos to stand out in a crowded market 08:00 Boost direct bookings by leveraging social media 15:48 Upsells and affiliate marketing with a virtual storefront 19:50 Coaching with Madeleine And more! Connect with Madeleine Raiford-Holland Instagram - https://www.instagram.com/madeleineraifordholland/ Connect with Mark McDaniel: Website - https://staysimpli.com/ Instagram - https://www.instagram.com/staysimpli/ Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/ Twitter - https://twitter.com/staysimpli TikTok - https://www.tiktok.com/@staysimpli

November 2, 202332 min

Note Investing with Chris Seveney

Obviously, we talk about short term rentals on this show. But is short term rental your only option? Today we have Chris Seveney, founder and CEO of Seveney Investments, to discuss alternative investment opportunities beyond short term rentals. Chris has over 25 years of experience in real estate and now specializes in buying non-performing mortgage notes. Chris shares the ins and outs of how his fund acquires distressed loans at deep discounts and works with borrowers to become performing again. For passive investors, he outlines the tax benefits and targeted returns of 8-10% annually by investing in a diversified portfolio of these rehabbed loans. Chris also discusses the due diligence process and risk management strategies to protect investors. Make sure to stick around until the end to find out how you can learn more about note investing or potentially become an investor with Seveney Investments. As always, thanks for listening and don't forget to subscribe so you never miss an episode of The Good Endeavor Short Term Rental Show. In This Episode: 01:30 What is Note Investing? 05:05 Acquiring Distressed Loans 06:43 Rehabbing Borrowers 09:40 Returns for Investors 12:28 Tax advantages for investing in Notes 15:20 How long has Chris been involved in Note investing? 18:15 Understanding what Note Investors want 21:08 Crunching the numbers on a Note investment 26:40 Should lenders get a bad rap? And more! Connect with Chris Seveney Email - chris@7einvestments.com Website - https://7einvestments.com/ Instagram - https://www.instagram.com/7einvestments/ Connect with Mark McDaniel: Website - https://staysimpli.com/ Instagram- https://www.instagram.com/staysimpli/ Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/ Twitter- https://twitter.com/staysimpli TikTok- https://www.tiktok.com/@staysimpli

October 19, 202348 min

Mid Term Rentals - Ideas for Standing Out

Our guest today Rachel knows firsthand what it's like to struggle financially. Coming from Haiti with nothing, she worked her way through medical school and climbed out of debt using real estate. Now she owns 18 luxury vacation rentals! But it's not just about the money for Rachel. She's discovered a way to generate $16k/month helping families displaced by disasters through mid-term rentals. Insurance pays top dollar to house families for months at a time while their homes are repaired. Rachel shares her step-by-step process for tapping into this lucrative opportunity. From networking with insurance agents to selecting the right properties, you'll learn how to turn a family's misfortune into your fortune - all while providing an important community service. She also reveals which amenities like pet friendliness can supercharge your bookings. Discover how Rachel turned one rental into a $16k/month payday and built a business helping others. Get inspired to profit from your properties and make a positive impact at the same time! In This Episode: 2:05 About Rachel 13:20 First home purchase 15:52 Getting into mid-term market 19:50 Insurance Company - Tapping into Temporary Housing Allowance 28:01 Two top amenities that drive revenue 33:31 Long Term Rates vs Mid Term Rates and occupancy 43:25 Rachel’s course on Mid Term Rentals And more! Connect with Steve Class: Instagram - https://www.instagram.com/steveyclass/ Website - https://www.newenglandpropertymanagementllc.com/about Connect with Mark McDaniel: Website - https://staysimpli.com/ Instagram- https://www.instagram.com/staysimpli/ Facebook- https://www.facebook.com/people/Staysimpli/100088214988017/ Twitter- https://twitter.com/staysimpli TikTok- https://www.tiktok.com/@staysimpli