The book “The Airbnb Story” by Leigh Gallagher is a compelling account of the rise and success of Airbnb, one of the most transformative companies in the travel and hospitality industry. The book delves into the history, challenges, and innovations that shaped Airbnb from its humble beginnings to becoming a global phenomenon.
The story revolves around the three founders of Airbnb – Brian Chesky, Joe Gebbia, and Nathan Blecharczyk. It traces their journey from being struggling entrepreneurs with a simple idea to becoming the pioneers of the sharing economy. The book sheds light on how they transformed the way people travel and opened up a whole new concept of peer-to-peer accommodation.
You may be wondering if you should read the book. This book review of “The Airbnb Story” will tell you everything about this book so you can decide if it is worth your time.
Without further ado, let’s get started.
Lesson 1: Embrace Creativity and Innovative Thinking
Picture this: Brian Chesky and Joe Gebbia were fresh out of the Rhode Island School of Design, dreaming of making it big in San Francisco. But reality hit hard when they found themselves struggling to pay their $1,150 monthly rent. Ouch! I can totally relate to those post-graduation struggles, can’t you?
But here’s the thing, instead of giving up and heading back home with their tails between their legs, Brian and Joe decided to put their design skills and creativity to work. And guess what? Their education had equipped them with the tools they needed to survive and thrive.
They brainstormed like there was no tomorrow, and voila! The idea struck them like lightning. The annual convention of the Industrial Designers Society of America was coming to San Francisco, and people needed a place to stay. So, they turned their apartment into a makeshift hotel, branding it as “Air Bed & Breakfast.” They charged just $80 a night to sleep on their air mattresses. And you won’t believe it, but overnight, they had more customers than they could handle! Talk about turning adversity into magic.
The takeaway here is that no matter how tough things get, don’t be afraid to get creative and think outside the box. Your education and life experiences have equipped you with unique skills that can be your secret sauce to success. Embrace that creativity, and who knows what magical opportunities might come your way!
Lesson 2: Adaptability and Experimentation are Key to Success
After the initial success of their “Air Bed & Breakfast” venture, Brian, Joe, and their buddy Nathan Blecharczyck faced a bit of a slump. Bookings were dwindling, and they needed to find a way to keep the momentum going. So, they did what any smart entrepreneur would do — they experimented!
Here’s the kicker: they started selling political-themed cereal boxes, “Obama O’s” and “Cap’n McCain,” as part of their accommodation package. Who would have thought that cereal could be a marketing tool? But guess what? It worked like a charm! They made $30,000 selling those cereal boxes as collectors’ items. Talk about turning breakfast into a business booster!
But the experimentation didn’t stop there. When new users reached out, wanting to rent out entire houses or apartments, the team didn’t shy away from change. They adapted their business model, rebranded as “Airbnb,” and expanded their offerings. And guess what? That move paid off big time!
So, the lesson here is to be open to trying new things and learning from the results. Don’t be afraid to step out of your comfort zone and experiment with different strategies. Entrepreneurship is all about finding what works for you and your customers, and that requires a healthy dose of adaptability and a willingness to take risks.
Lesson 3: Stay True to Your Mission and Core Values
As Airbnb’s success skyrocketed, Brian Chesky took the reins as CEO. But he knew that with growth came the risk of losing the essence of what made Airbnb special in the first place. So, he made it his mission (pun intended) to maintain the company’s core values.
They declared that Airbnb’s mission was to bring a personal connection to every stay. And boy, did they live up to it! They instituted policies that required hosts to do something kind and personal for their guests, making every stay feel warm and welcoming. And they had a motto too — “Belong Anywhere” — which resonated deeply with their target audience.
Brian’s approach to decision-making was simple yet powerful: “Will this fit into Airbnb’s company culture?” He prioritized maintaining their values over making quick decisions for short-term gains. And that decision paid off big time!
The lesson here is to define your mission and core values early on and let them guide your journey. Stay true to who you are and what your business stands for, even as you grow. Your values are your compass, ensuring that every step you take aligns with your vision and purpose.
Lesson 4: Handle Setbacks Responsibly and Proactively
Airbnb wasn’t always a smooth ride. They faced a major setback when one of their hosts had her home vandalized by guests. Yikes, that’s a nightmare situation for any business to face! But instead of running away from responsibility, Brian Chesky took charge.
He rearranged policies, brainstormed solutions, and personally reached out to the affected host to offer support and compensation. And that’s not all — they implemented background checks, stepped up security measures, and established a Trust & Safety unit to weed out potential risks.
The lesson here is to take accountability for your mistakes and work proactively to prevent them in the future. Building trust with your customers is crucial, and that requires being responsive and responsible when things go wrong.
The Airbnb Story Review
“The Airbnb Story is an inspiring tale of two friends who turned a simple dream into a global phenomenon. Reading this book, I was captivated by the journey of Brian Chesky and Joe Gebbia, who started with nothing but a desire to make ends meet in the city they loved. Their innovative thinking and creative problem-solving skills turned their idea into a thriving business, connecting hosts and guests from all over the world.
What I loved most about this book is how it emphasizes the importance of staying true to your core values. Despite achieving tremendous success, Airbnb remained committed to creating personal connections and offering wholesome experiences for travelers. It’s a refreshing reminder that success doesn’t have to come at the expense of authenticity.
The book also highlights Airbnb’s dedication to customer service and continuous improvement. Even at the pinnacle of success, they haven’t stopped evolving and taking accountability for their customers’ needs. This relentless commitment to their users sets an example for businesses everywhere.
Overall, The Airbnb Story is a must-read for anyone aspiring to build a successful business. It’s a powerful testament to the potential of creativity, determination, and a genuine passion for making a positive impact in the world.”
Leigh Gallagher is the assistant managing editor at Fortune and a talented author. Her book “The Airbnb Story: How Three Ordinary Guys Disrupted an Industry, Made Billions… and Created Plenty of Controversy” is a captivating tale that delves into the origins, growth, and impact of the Silicon Valley hospitality startup.
Leigh’s first book, “The End of the Suburbs: Where the American Dream is Moving,” has been hailed as “prophetic” and “a first-rate social history.” With a keen eye for trends, Leigh also co-chairs the Fortune Most Powerful Women Summit and hosts Fortune Live. You’ll often find her as a sought-after speaker and commentator on major news networks. Originally from Media, PA, she now calls New York City home.