Get $100k to build your dream Airbnb
Brian Chesky, the CEO of Airbnb, has announced OMG!Fund: A fund of $10m total from which 100 people each will receive $100k to make their weirdest idea for an Airbnb reality.
I find this super interesting for several reasons:
1. If you think about it, $100k is not that much nowadays for real estate terms.
You could even say it's extremely little. Suppose you were limited to using all the $100k without additional funding to fully set up a brand new Airbnb. In that case, you might even think it's impossible in terms of proper real estate.
But here, you want to think creatively. It's not about real estate - it's about ideas. And the quirkiest, weirdest idea, despite being cheap to realize, will not only get funded but probably make quite a buck from everyday business.
For instance, check out the Big Idaho Potato Hotel: For seven years, a 6-ton potato replica traveled the country. After that, it got repurposed into an Airbnb by Kristie Wolfe (who is a tiny house builder and former member of the Potato Truck Tour team). Currently, one night costs $237 (excluding fees), and it's booked out for months. The setup had cost Kristie $32k, and since its inception in 2019, the potato has made a total of $210k until now.
The whole point is that creativity and smart thinking can outperform expensive investments, and I love that entrepreneurial mindset. Just shows that opportunity is always there for everybody. You just have to look for it.
2. OMG!Fund is here to stay.
Applications are due on July 22, 2022 - but because it's called a "fund", I feel it's here to stay. More rounds will be coming, and I totally understand why:
It's a marketing masterpiece (can you imagine the word of mouth that this campaign is causing?). It will also result in more viral Airbnbs, further stirring up the buzz for the company. As such, it's time to stop thinking about financing common, boring places and start thinking about how to create something marvelous on a budget.
A collection of oddly beautiful, extraordinary, and uniquely designed things.
Browse products now3. You're crafting an experience, not a stay
Nobody is interested in living in a home for the sake of living there. But, if the place is more than just a place, e.g., an experience, people might book it for the sake of the experience.
This goes back to point 1 and another post I had conveniently published only a few months ago: Your Airbnb is an experience.
In this case, it has to be a much more extreme case, though. Therefore, I feel like I should create a new, OMG!Fund-specific article for general inspiration. It's gonna come out soon, so subscribe below:
