How to Build a Business That Pays You Back (Lisa Peterson L'abode)

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The Accommodation Show - Hospitality Success Series! 35 min 1 speaker 8 chapters transcribed 27 days ago
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Who is Lisa Peterson and how did she grow L’Abode from a bedroom startup to 250 properties?

Bart Sobies 0:12
Okay, everybody, welcome back to another episode of The Accommodation Show. This week, I'm joined by the most wonderful woman in the world, Lisa Pedersen from Le Bode Accommodation. Welcome to the show.
Lisa Pedersen 0:23
Thank you, Bart, for having me. I'm so pleased to be here and sharing all my knowledge and expertise over the years. So yeah, thanks for having me.
Bart Sobies 0:32
Yeah, look, the reason why I call you the most wonderful woman in the world is because of your passion, because of your can-do attitude. Every time I kind of approach you, say, hey, Lisa, can you help me out with this? You're like, yeah, how do we do it? You're a real driving force in the short-term rental space. You've been in business for 13 years. You've got around about 250 properties under management in five different states across Australia. So that's New South Wales, Queensland, Tasmania, Victoria, and the ACT. I did have to check my notes. It's been really great because, you know, I've been in the industry for sort of a short term rental and sort of accommodation space for five, six years. And since our paths crossed, only recently did I realize how much of an impact you've had on our business and what I do through your connections and your goodwill.
Bart Sobies 1:22
How important do you reckon that that has been to make you as successful as you guys have been?
Lisa Pedersen 1:29
So when I first set up the business, this was pre-Airbnb. So 13 years ago, you know, this is when stays sort of just had a platform and home away. I had no one back then.

Why does sharing knowledge and industry collaboration fuel success in short‑term rentals?

Lisa Pedersen 1:43
You were absolutely winging it. You know, hotels have been around forever and a day. They've got their platforms and their softwares and, you know, all the properties are under one roof. You know, whereas we're dealing in the short-term rental space, we're dealing with, like, you know, all these different types of calibre of owners. We're dealing with all these different types of calibre of properties. They're not just a cookie-cutter set. And then on top of that, we're having to, like, reinvent all of our operations and systems and processes. There's no one-stop shop for anything, you know, the tech stack. And our environment is huge and multilayered. And, you know, and when I sort of found my people in this industry or found someone else doing that, I would, in those early days, I would cling on to them.
Lisa Pedersen 2:32
So Steve Keer from Hotel Esk was one of my first ones because I actually went for a job with him. And he, yeah, he didn't offer me the, I didn't get the job with him or something like that. So then I went out and set up the business. Yeah, we've had a really close connection ever since then. But just having that kind of like someone you can bounce off, someone that you can ask questions to, someone that you can kind of like have even have a shoulder to cry on because you can have some pretty bad days in those early years.
Sure.
Lisa Pedersen 3:02
And I just found that critical. But what I did find in those early years as well is everyone was very closed off about sharing information around their business. But I've always had the ethos of share, share, share, because it comes back in absolute droves. And people will open up as well, like once you start giving out your intellectual property and telling people how you operate and run your business, you know, and I've kind of, I'm kind of of the mindset that if someone wants to do as well as you or better than you, then go for it because it's bloody hard. And if you can also give back and share, then like, yeah, I've always been one to sort of be really proud of kind of like at industry partners and try and help them out.
Lisa Pedersen 3:45
And that's what we call them. But, um, Yeah, you know, I've got a huge amount of connections within this industry now and I think it's, you know, it comes from giving back to the industry and being able to, you know, tell people I know what you're going through and I know it's hard and this is how I've done to fix it, you know, and I've had that same, I've, you know, had people, Give me so many gold nuggets over the years, which I've implemented into my business, which has helped make it profitable.

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