$10M+ Exit – Chip Conley, Joie de Vivre Hospitality
56:55 · 2018
Listen to the full episode here
Chip Conley Exited Multiple Companies For More Than $10,000,000
Chip Conley transformed inner-city motels into the second largest chain of boutique hotels and helped guide the Founders of AirBnB to create the world’s most valuable lodging brand.
Best Advice I Ever Received
Richard Branson, who wrote the Foreword for my first book, told me when he’s creating a new company, he always repeats the mantra, “I am the market, I am the market, I am the market” as a reminder that he wants to thrill himself as a customer.
Best Advice I’d Give to Someone Who Wants to Build A $10m+ Business
Focus on a niche that you can own with clear differentiators.
In this episode, Steve, Mary, Richard, and Chip discuss:
• How Chip got started in the hospitality business and getting investors to invest.
• How to handle an unstable market and shrinking revenue due to recession.
• Hiring and building the team you need to better manage your own time and your business’ growth.
• How hospitality has changed in current culture and what changes have occurred in businesses.
• Be a part of your market so you can always stay in tune with the desires of your clients and industry.
• Understanding investments will help you grow your business and flourish.
• Building a company that people want to work for makes a stronger team and smoother process.
• Balancing your consumer base is the key to growing your businesses.
“People liked our company.”—Chip Conley
About Chip Conley:
Rebel hospitality entrepreneur and New York Times bestselling author, Chip Conley disrupted his favorite industry… twice. At age 26 he founded Joie de Vivre Hospitality (JdV), transforming an inner-city motel into the second largest boutique hotel brand in America. He sold JdV after running it as CEO for 24 years, and soon the young founders of Airbnb asked him to help transform their promising start-up into the world’s leading hospitality brand. Chip served as Airbnb’s Head of Global Hospitality and Strategy for four years and today acts as the company’s Strategic Advisor for Hospitality and Leadership. His five books have made him a leading authority at the intersection of psychology and business. Chip was awarded “Most Innovative CEO” by the San Francisco Business Times, is the recipient of hospitality’s highest honor, the Pioneer Award, and holds a BA and MBA from Stanford University.
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