When you think of banks, where the rich and famous keep their money, private banking giants such as UBS, Merrill Lynch or JP Morgan come to mind with hundreds of billions of assets under management. It is true that these financial institutions are at the forefront when it comes to assets under management and some of them have been in business for hundreds of years. However, when it comes to exclusivity, it is not always the biggest players who offer the best service.

The banking industry is experiencing a trend similar to that of many other industries. Traditional banks are being challenged by technology as new players use Internet and mobile applications to digitise the entire banking process. As a result, the customer benefits from an easy-to-use and hassle-free process to open accounts, transfer or manage their money.

One of the fastest growing and most successful digital banks is Black Banx. The Black Banx group was established in 2014 by Internet billionaire Michael Gastauer.

The fully digital bank launched its services in December 2015, allowing customers in 180 countries to open checking or savings accounts in 28 currencies. What is unique for the banking world is that the entire process of opening accounts in Black Banx can be done online in less than 8 minutes, eliminating the time and costs that a customer in Brazil, Mexico or Colombia would have to invest in traveling to Switzerland, USA or the Caribbean to meet with your banker to open an account. Black Banx allows any type of online banking activity in real time through its blackbanx.co platform. It is therefore no surprise that in the first four years, more than 8 million customers used the Black Banx service to open accounts.

In April 2019, Black Banx Group launched TITANIUM, a private banking program tailored to its clients at the highest level. TITANIUM is a fully digital private banking product that offers one of the most exclusive services for a group of clients. To become a TITANIUM customer, which is by invitation only, the customer must have an account at BlackBanx.co. The criteria for receiving an invitation require an account balance of US$ 1 million. It’s founder Michael Gastauer, CEO of the Black Banx Group, personally created the program to guarantee the most exclusive services for its high-level clientele. With a net worth of more than US$ 10 Billion, the founder has an in-depth understanding of the type of services VVIP customers need. Black Banx also took advantage of their close relationships around the world to ensure that maximum value is given to their TITANIUM clients.

By asking Michael Gastauer what TITANIUM is offering his High Net worth clients, he responded that he sees his clients as his business partners he is helping to solve their banking problems.

Part of the elite service that Black Banx offers its TITANIUM clients is a private jet pick up service to meet the founders and board members of Black Banx.

The TITANIUM account package includes a Black Banx Visa Titanium card, in which the client can set their spending limits up to US$ 1 million per day. With this type of limits, the Black Banx TITANIUM card offers an exclusive shopping service, which helps customers to buy the most sought after pieces. Using Black Banx`s exclusive relationships with high-end luxury brands such as Hermes, Chanel, Patek Phillip, Graff etc. to acquire the most attractive pieces ranging from handbags, watches, jewellery or pieces of art is an exciting experience Black Banx offers to their Titanium clients. “In many cases the relationship with our client has the dynamics of a friendship rather than the feeling of doing business”, says Abygail DeSousa, COO of Black Banx. Some of the benefits of having a Black Banx Titanium card include services such as access to catwalk collections, invitations to fashion shows through industry contacts in the four major fashion capitals. Custom services include exclusive presentations of various brands that are transported privately to the client’s location.

Other options include visits to museums outside opening hours, made according to the clients’ agenda and include private exhibitions of plays, ballets and small group concerts or a visit to private wine cellars where customers can try French wines that will never be available for purchase. The bank service for its VVIP clients assigns a relationship manager dedicated to financial matters, in addition to a lifestyle manager, available 24 hours a day, for personal requests. Lifestyle managers can organise an unparalleled red carpet experience at the most attractive restaurants, hotels and clubs to provide white glove service in all aspects of entertainment, travel and commerce. Private chefs with Michelin stars and personal butlers are also included in the list.

The bank’s VVIP service offers a wide variety of options and is committed to delivering real value to its customers. Many of its services are personalized individually and are only disclosed to its members.

You will have a swimming pool full of money from your Rental Business if you will follow these tips.

We all do business to earn money at the first place and then for any other purpose such as passion, dream. Well if not all but most us are working for money. We all want financial stability in order to fulfil our personal and our family’s desires.

So what if the business you are running currently is not generating enough profits? Will you shut it up or just keep on bearing all the losses? Well I have a better option than these two, only for you because you are my friend. You can do a little bit research, work upon certain areas of your business, change some strategies, learn some tactics from competitors and improve. Now I can understand your situation very well, you don’t have enough time to do research and money to hire someone to get this work done for you…. I know your problem. So, I have done this work for you and you know what, you won’t have to pay me anything. Just take out 5 minutes from your busy schedule and read this article completely. I am sure after reading this you will have a basic idea about how to improve your earnings and be reputed in Vacation Rentals Business Market. And I expect you to spare at least this much time for your business. This is least you can do and don’t just read it and forget it, work upon the idea and maintain your performance.

1. Prioritize Your Customers

I went India last year for a business tour with my friend. There I learnt a basic yet authentic principle of business — Treat your Customers as God. Yes they do treat their customers like a God and that’s what makes their relationship with their customers home-like. Now if we talk about Rental Business you should try to maintain healthy relations with your clients. Make sure you pay heed to all their complaints and queries. Just be available to them 24/7 and don’t let them feel betrayed and disheartened. But this does not mean you will invade their privacy, remember they are at your place to have some personal time and not to be bothered by you all the time. Maintain a balance and make sure you are in contact with them.

2. A Clean Home Is Their Right

First impression is the last impression, well it might not be true in case of people you meet but  it is certainly true about the places you visit. So if your guests won’t find your place clean in their first visit they will not consider staying at your place again. It will bring bad name to your Business and you may lose potential guests. Bad referral is more dangerous than you think.

Talking on your guests’ behalf, I would say that a clean place to live in is their right as they are paying for it. They will definitely leave negative reviews on your website about your rental property without any hesitation, because they will be  disappointed in you. A clean place will lift up their mood and will freshen them up.

You should regularly clean your house and make sure it is hygienic. Imagine they open the main door and everything is spick and span, everything is exactly at its position. Undoubtedly they will love it and will appreciate your service.

A Pro tip:

Make sure to clean your house surroundings as well.  A dirty garden is as disappointing as a dirty kitchen. So make sure your garden area, garage, back lawn, the surroundings of your place everything is clean. It might sound absurd but trust me cleanliness can help you earn more  3. money.

3. Bend your finger and lick the butter

No relation is one sided, it only works when both the parties are equally involved. And so does it happens in business, if you are providing a clean home to your clients then it is your right to get it back at least not in a bizarre condition. Be humble and ask your guests to do the basic cleaning. You cannot expect them to do all of it but yes they can do some basic tasks such as loading the dishes, drawing all the curtains, switching off electrical appliances like lights,fans, microwave etc, closing doors and windows, making sure that garbage is dumped into dustbins. You can help them in doing that by putting small reminder slips all over your place or a decorative chart with all the instructions written over it for the same. It depends upon you that how you will get things done with your own creativity. So wear your creative caps and blast it with your kick*ss performance. Make them work without botheration.

4. Safeguard your Rental Property (Deposit Fee)

Some of you might not find it appropriate but charging a deposit fee from guest is not at all a bad idea., Indeed it is a great idea. It will serve dual purposes. First of all you will be relieved from worrying about the damages that might be caused to your property by careless guests. Second, deposit fee will make your guests more cautious about how they handle your property and gadgets in your house. Therefore chances of damage will be less. Convince your guests that in case of any damage only the amount extended to that of the damage caused will be recovered and remaining will be given back plus in case there are no damages your money will be returned to you. A pro tip here is that you can tie up with any online shopping app and provide exclusive vouchers to your guests, if they book your property for a certain period and leave it without causing any damage.

5. Don’t be a bossy boss

A place where every time you find your boss yelling out at an employee is a jail. And such a place feels like a nightmare where you can’t escape the ghost and have to deal with his sh*t. So if you are a boss then treat your employees like family, and they will work more efficiently which in turn will improve your business performance. But it doesn’t limit your powers, you can scold them if they depict wrong attitude towards their work and everything is acceptable if it is done in certain limits. Manage your staff effectively and make them feel at home yet inspired to do their work. Don’t overload them and make sure you have as much direct contact with them as possible, especially your cleaning staff. Maintaining right quality and quantity of personnel is another major decision that a leader takes  which directly impacts your revenues. Over hiring and under hiring both will deplete your revenues. So choose optimally.

6. Go Solar… Go Green

 If you are lucky enough to have ample sunlight in your Vacation Rental Property and that too for almost around the year, then you can cut down your electricity bill to almost nil by installing solar panels. Yes, it will put burden on your pocket for sometime but in long run this is a win-win game. Because solar panels are eco friendly and they are long lasting. Second, your environment loving guests will love it too. And if you want to them to be overwhelmed by their choice of choosing your property, then keep your garden in upright condition. There are different flowering plants in your garden to give it a contrasting look. Make sure there are no mosquitoes breeding in or any other harmful creature residing happily in your garden area.  

You can further have segeragated waste management system so that recyclable waste can be recycled. Remember that mother earth is providing you with all of these resources therefore this is least what you can do for her. Make sure you harm you planet as less as possible. And if helping mother earth is increasing your bookings from your environmentalist friends then what’s the problem. Grab every opportunity dude.

Conclusion

Business is just like life, in order to grow you need to improve and keep going on. Similarly if you really want to achieve success in your rental business then never give up. Start with some small things and make huge difference because small pieces of puzzle makes a complete picture. Use these tips to improve and see the results. Every business is different just like our fingerprints. So understand your needs and work on it. Don’t stop at a point work hard and expand. And after expansion, try to maintain your position. That’s what matters. Many startups fail because they just don’t keep going on and want instant results. Be patient, have a muffin and work more without much load.

When a startup is launched, the first and biggest challenge is – how is it going to survive in its initial years.

The first three years are said to be the testing years for a startup. It determines in which direction the business is thriving and how much it has managed to climb the ladder.

Many individuals decide to go for their own entrepreneurship venture. They invest in it, organize the setup and start functioning. Various founders and entrepreneurs have confessed to this fact that the first two-three years are like a roller-coaster ride for any venture.

In that case, it doesn’t matter how much profit they have managed to generate. What matters is how these startups managed to sail through these difficult times strategically.

To ensure that a startup keeps functioning smoothly in its first few years, a founder or an entrepreneur should keep few things in mind.

1) Show Your Presence of Mind

As an entrepreneur, your idea of work may be brilliant, but it’s going to be a hard, bumpy ride. Let us tell you despite the hard work done by you and your team, the profits are not going to land the overnight. At times, you may have to wait longer for income generation. You, along with your team need a lot of patience and preference for this process.  

There might be times when your team might get really frustrated due to all this, but the fact is to achieve success or profit you need to keep your cool over the matter. Even though there might be dark clouds, but always remember that still there are enough tools that will help you to get out of all this if they are utilized well.

Keep yourself so motivated that your negative thoughts hardly could paralyze you.

2) Accept Your Fears

OK! We agree you have to be confident to keep your team charged up. But at the end of the day, even you are like any other fellow who has his/her own fears. The best way to tackle a fear is to embrace it first. To combat it, take actions. Don’t be bothered about what the result is going to be. Have enough courage to face something new. Doing something like this will help you unveil a new potential inside you, sometimes.

3) Work in Accordance with a Plan

As a boss, keep yourself updated with the latest trends, the downfalls, which section of the market your product/services shall cater to, your operation location etc.

Consumers are really quick in deciding what they want, so before them, your firm should quickly get the clue what a particular consumer want. You can choose online marketing for this purpose. When you are quick with your planning, you will start gaining businesses in no time. When planning something, discuss it with your whole team so that as a team everyone is able to put efforts.

4) Have a Cordial Relationship with Your Team

As a budding entrepreneur, it is very important that you interact nicely with each of the team members. Sometimes in a startup, each member has to wear multiple caps to perform multiple duties.  In that case, a cordial and healthy working environment shall boost their confidence and make them perform better. Experts recommend that you should boost your home environment quite similarly the way you boost your home environment. Try to provide maximum facilities as you can so that the team members can work easily.

5) Hire Wisely

Even though you have started new, learn to hire people on their qualification basis. Choosing less qualified people expecting that they will learn their lessons while working will only add to your woes later on. If you have a lesser budget, learn to identify those people who can learn their work quickly and shall prove their potential later on, while working. For a startup, every member is important because of the role that he/she has to play. Thus one bad decision can largely affect the business progress achieved to a certain point. For certain positions, you can hire people whose work experience match your criteria. This shall secure the business’s future.

6) Just Don’t establish Network Expecting profitable Returns

Networking is an important part of a startup business. In order to stay in business, you need to establish contacts and help each other at times, like you can recommend their services to others. But don’t expect that even they would recommend your services to others when you are in. Of course being optimistic and persistent in such cases pays. Your focus always should be to make your way out so that you don’t have to rely upon others.

Even though you are the owner of an enterprise, you have to realize that at the end of the day, you are a part of the marketing community who are connected to each other through a chain. Sometimes a few people would be there to help you get certain profitable returns, but at the end of the day, you have to be on your own feet.

7) Choose Digital Marketing

Digital Marketing is a widely recommended option for startups since it provides profitable returns at a low cost. Launch your own website and use Search Engine Optimisation to make your website visible. Websites help your brand to get a face. Thereafter you can make various Social Media pages especially the Facebook to promote your business.

Around half of the world population have their accounts on Social Media and spend a considerable amount of time using these apps (mostly on their smartphones). This is easy, reliable and few of the most effective options to reach out to these people. You can choose numerous paid plans to showcase and sell your product and services to millions of people in a single time. Apart from this, you also get insights into the viewers’ likes and dislikes.

With numerous online options available, you can decide how and when you wish to promote your business locally, globally or internationally.

Running a startup successfully and sustaining it over a long time is a not a cakewalk as well. But at the end of the day, there’s nothing that can’t be achieved with hard work, persistent and good decision-making skills.