Common and costly entrepreneurial mistakes to avoid

Being an experienced entrepreneur himself, Tyler T. Tysdal knows the inherent difficulties of being a business owner. There are countless pitfalls that could end up costing the company a lot. On that note, here are the most common entrepreneurial mistakes:

Late product developments

Many business owners put in too much time and effort into developing their product only to find out that it holds very little appeal to their target market. It’s much more effective to have a prototype in order to gauge target market reaction.

Not hearing the consumers

There are times where, out of excess belief in their products, eagerness and pride get the better of business owners. When this happens, they ignore consumer feedback. This has been the downfall of many businesses in the past. Customer feedback should always be a key metric in a business’s progress.

Slashing prices

The problem with slashing prices or offering discounts early on is that it’s oftentimes not sustainable. And when the business shifts back to their original prices, many consumers find them not worth their money.

Depending on family and friends

It’s always nice to have family and friends purchase products from your business, Tyler T. Tysdal notes. However, the mistake here is that entrepreneurs feel like having people of close relation as the client base would not reflect the real potential of one’s business. Veteran business owners sometimes “use” family and friends to market the business instead, which is much more effective.

Tyler T. Tysdal is both a private equity and real estate investor who sees a lot of promise in the hospitality industry. Mr. Tysdal is also a recognized leader in conscious capitalism and believes in the need for businesses to aspire for a positive social impact. Learn more about Tyler T. Tysdal, his work, and his advocacies when you visit this blog.

The importance of yield management strategies in the hospitality sector

Even as the today’s hospitality and tourism sectors deal with a changing customer atmosphere driven by better connectivity and globalization, they are generating almost 10 percent of the total economic output, supporting 1 in 11 jobs in the global economy. The resulting success of the hotel industry, in particular, is making it a truly sound investment option. It makes perfect sense then that a lot of businesses are tapping into this resource, says real estate expert Tyler T. Tysdal.

If an investor is to leverage opportunities and maximize revenue, what’s most important when entering this investment type is understanding the tenets of yield management. In layman’s terms, yield management means selling to the right client the right room at the right time. This approach helps greatly in effective market segmentation, generating more competitive pricing and reduced pricing errors, and in overall better gauging customer expectations.

Booking early is not only encouraged in a solid yield management strategy but becomes the way to go for customers, pricing-wise. A sort of time penalty is applied, in which the pricing of rooms increases gradually as in important event draws nearer. This allows for justified pricing for later bookings and, of course, higher revenue for investors.

Yield management strategies likewise involve taking into account the constant changing of budgets, demand, and customer preferences, leading to the creation of what is called dynamic pricing. Think of yield management as being always ready for various scenarios, from an upcoming festival to a change in the season and being mindful of how such factors affect the influx of visitors and tourists, adds Tyler T. Tysdal.

Tyler T. Tysdal is the Managing Partner of Platte Management, a single-family office with active investment strategies in private equity and real estate. He believes that part of creating a positive impact in society is pursuing conscious capitalism and charitable work. For more on Mr. Tysdal’s work and advocacies, go to this page.

Pro tips on saving money when booking hotels

When asked about vacationing, real estate investor Tyler T. Tysdal always used to say that the full enjoyment of a trip need not be expensive. And he should know since he’s a veteran of the hospitality industry.

In line with this, veteran travelers have shared some hacks on saving money when booking hotels. Here are some of them.

Book as early as possible.

The cheapest rates for booking everything from a plane ticket to the hotel or resort come out months, maybe even a full year, before the trip. The closer people book a trip to the actual date of the trip, the more expensive it becomes.

Don’t ignore packages.

Numerous trip packages pop up along with cheap rates early on. Tyler T. Tysdal has mentioned this a couple of times, the hotels need guests—especially during off-peak seasons. This is a huge reason packages are offered, and guests should take advantage of them.

Don’t ignore loyalty cards.

Many hotel chains have loyalty cards for frequent guests. The principle is very similar to that of airlines and their frequent flyers. Hotel chains often base the loyalty card points on what visitors pay for. These points can be used later on to get upgrades and freebies.

Disclose special occasions.

Since every hotel wants to offer a special experience, guest should inform the hotel of birthdays or other events happening during their stay. Some hotel managers go the extra mile and offer more than what guests pay for.

Tyler T. Tysdal is a real estate investor. He also believes that part of creating a positive impact in society is pursuing conscious capitalism and charitable work. Learn more about Mr. Tysdal’s work and the hospitality industry here.

A closer look at just how massive the hotel industry has become

Everywhere people go, there is some form of accommodation other than the usual residences. Whether hotels, resorts, motels, or BnBs, the hospitality industry is alive and well in almost every city and every town in the world. With this in mind, it’s no wonder that the statistics are staggering.

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Here are some facts and figures about the hotel industry.

· There are over 700,000 hotels and resorts in the world in operation.

· In these hotels and resorts, there are over 15 million rooms available.

· The hospitality industry in the U.S. is so massive that over 5 million of the 15 million rooms available can be found here.

· The 5 million rooms in the U.S. are from hotels, resorts, motels, and other establishments that have them rented out.

· At any single point in time, around 2 million of the 5 million rooms in the U.S. are occupied, either by short-time guests, or long-time renters.

· In the U.S., the average cost of renting out a room is $120 USD. The average cost of renting out a room all around the world is $11o USD.

· The most expensive hotel rooms in the U.S. can be found in New York City, with the average price being $1000 USD for a single night.

Real estate investor Tyler T. Tysdal believes that part of creating a positive impact in society is pursuing conscious capitalism and charitable work. Learn more about his work and advocacies here.

Top charities that aid veterans

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Whether it’s the holidays or not, we’ve to be mindful of and thankful for the many sacrifices of our countrymen in the U.S. military. We can recognize their bravery and efforts by supporting causes for their welfare upon returning home. Let’s look at several established charities devoted to the plight of our veterans:

Wounded Warriors Family Support
This organization was founded in 2003 and helps families of men and women who’ve been wounded, injured, or killed in combat. It was founded by a retired U.S. marine, and provides free stays in retreats so that veterans, their spouses, and their children can reconnect with one another and form support systems in coping with both psychological and emotional trauma.

Thanks USA
Thanks USA was started by two sisters in 2006. The organization provides support to children and spouses of servicemen who are still in active duty. The organization offers technical, vocational, and college scholarships. It has already awarded over 3,500 such scholarships in a little over a decade.

United Service Organizations

While nonprofit United Service Organizations or USO is not a part of the U.S. government, it is chartered by Congress. It has been offering care packages, recreation, and entertainment services to military members and their families since 1941. USO currently has over 135 centers throughout the world.

Hope for the Warriors
This organization was founded by wives of military personnel in 2006 who’ve witnessed firsthand the effects of war on families. It’s devoted to the improvement of the lives of servicemen after 9/11, including assistance in their transition back to civilian life with career and education programs, community-building projects, and wellness counseling.

Real estate and private equity investor Tyler T. Tysdal is an advocate of conscious capitalism and social impact investing. He has received a variety of awards for leading conscious capitalist ventures. His charitable endeavors include aiding female U.S. veterans. More on Mr. Tysdal and his advocacies here.

A beginner’s guide to social impact investing

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More and more investors all over the globe are seeing the value of social impact investments, using their capital for causes that generate more measurable and positive effects on both the environment and various communities. At the same time, their financial returns are not compromised.

At its core, social impact investing aims to address today’s most pressing issues such as the need for renewable energy, sustainable agriculture, healthcare, and conservation. It is likewise geared toward giving more people access to affordable basic services. A social impact investor consciously and intentionally wants his or her investment to create such positive impacts.

Impact investing seeks to target financial returns across various asset classes, ranging from concessionaries or below market options to risk-adjusted market rates. These investments need not be limited to cash and fixed income; portfolios may also include venture capital and private equity undertakings.

Social impact investing seeks to bust the long-standing myth that social and environmental challenges can only be addressed via charitable or philanthropic actions or endeavors. It also aims to replace the pervading notion that investments must solely focus on gaining solid financial returns. With this form of investing, investors gain more viable and diverse opportunities to make their investments truly world-changing and life-altering.

Real estate investor Tyler T. Tysdal is a firm believer in the importance of conscious capitalism and social impact investing. He has already received a lot of awards as a leader in conscious capitalist ventures. For more on Mr. Tysdal and his work, drop by this page.

WELCOME TO MY SITE!

Tyler T. Tysdal is a seasoned investor and entrepreneur based in Denver, CO. At present, he serves as the Managing Partner of Platte Management, a single-family office with active investment strategies in private equity and real estate. For private equity for Platte Management, Mr. Tysdal formed TitleCard Capital, which taps the power of athletes, artists, and industry executives to generate attractive risk-adjusted returns through investments in companies such as Leesa, a direct-to-consumer online mattress company with a social mission to end bedlessness.

For real estate for Platte Management, Mr. Tysdal led the investments in several real estate properties, primarily in the hospitality sectors in Manhattan and Seattle and apartments in New York.

Tyler T. Tysdal’s career began at Alex Brown & Sons, where he worked as an investment banking financial analyst. Over the years, he has founded many companies and served executive positions in the boards of other firms.