In today’s episode, I have Chris Maughan, founder of I-PRAC, a verification platform for the short-term rental industry. I-PRAC was born from the need for a reputable way to certify rentals to prevent consumers from becoming victims of fraud. They are now the leading global certification for the short-term rental industry. Chris is also the CEO of AES events group in Cannes, providing accommodation and event management for corporate clients like Twitter, Spotify, Microsoft, FOX and Disney.
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Building I-PRAC was no walk in the park for Chris. He made mistakes, as all business owners do, but stresses the importance of learning from those mistakes and moving forward. As his mother always said, “don’t make the same mistake twice”. Continuous learning, whether from mistakes made or still stacking is the key to becoming a successful business owner. Chris walks us through his journey in building his business, and the lessons he learned along the way.
In this episode we talk about:
- The importance of outsourcing when building a startup
- Biggest lessons learned in the beginning stages of your business
- Why skill stacking is so important as a business owner
Timestamps
1:30 – An intro to Chris Maughan and I-PRAC
5:00 – Fraud in the short-term rental industry
8:10 – Marketing & fraud-prevention
11:27 – Challenges and lessons in starting I-PRAC
15:57 – How to identify whether your outsourcing is the problem or your own systems
21:05 – Choosing what components to outsource
23:30 – I-PRAC – Skillshare partnership
26:35 – Importance of skill stacking and consistent learning
Connect with Chris Maughan on LinkedIn or reach out via email at [email protected].
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