Mike Michalowicz, The Toilet Paper Entrepreneur, (http://www.toiletpaperentrepreneur.com) joins us to discuss innovative cost cutting and creative ways to generate more revenue... Read the Transcript

Mike Michalowicz Founder & President Obsidian Launch http://ObsidianLaunch.com

Mike Michalowicz has a driving passion for entrepreneurialism. It is his belief that anyone who has the desire, even a fleeting ‘what if’, has been touched by an inspiration that must be satisfied. Michalowicz wrote The Toilet Paper Entrepreneur with the sole purpose of giving first time entrepreneurs the information they need to grow their concepts into industry leaders. Mike is a reoccurring guest on CNBC’s nationally syndicated entrepreneurial television program, The Big Idea with Donny Deutsch. He has been highlighted on entrepreneurial topics on National Public Radio (NPR), in Inc. Magazine, The New York Times, and Smart CEO Magazine. Michalowicz was recognized as Young Entrepreneur of the Year in 1999 by the MCCC, New Jersey's Young Entrepreneur of the Year by the SBA in 2000, and is a 2004 graduate of MIT's Birthing of Giants Entrepreneurial Program.

Vacation rentals are increasing in popularity among consumer travelers but with surprising advantages for the business traveler and lessons for businesses as a whole. In this article, we track the latest strategies in vacation rentals and innovating practical ways to boost your bottom line no matter what industry you enjoy by renting out your idle assets. The appeal of the vacation rental for business is far beyond the lower price. Available in most cities worldwide, they are a great option for the business traveler and are often large enough to offer some minor meeting space. From the owner’s perspective, it just makes good sense to rent out what you are not using. The same goes for businesses. Previously, the time spent managing the rental process might cost more than you would make. That being the case, most businesses did not bother. Recently, however, a new option has arrived on the scene in the form of eVenues. This particular approach to renting out idle space takes away the reasons that currently hold most businesses back. If you are the business doing the renting, walking into the lion’s den of your competitor to discuss you latest innovations inside their boardroom is rarely a good idea. Well, it is good for your competitor. Simply bring your own computer equipment, and do not rent from your competitor. With such an abundance of space available, your competitors are not hard to avoid. To create advantage from this trend, consider the following. Vacation rentals are great for business travelers too. Idle assets are wasted money - rent them out. Online booking has come to business spaces to help make this task easy. When renting office space, BYOC and avoid your competitor. Lastly, trade your idle assets in barter with other companies. Now is the time to get efficient by getting creative.