Because I only stayed in a 5-star hotel
As you might know, I chose to become a homeless entrepreneur. But clearly, I had to be somewhere.
So where do I live? I go to 4 and 5 star hotels almost exclusively. I am generally a rather frugal person. Savings in several areas. I watch every penny I spend. I think it’s easier to save money than to do it. But I learned that it’s useful for me to spend a lot of money in all three of these areas. It might seem strange to spend money, but let me explain why I’m not staying in a 5-star hotel. It’s not because I’m presumptuous or I think a 5-star hotel is the only thing worthy of me. In fact, I would feel comfortable in a 2 or 3 star hotel.
When I started as a businessman, I usually looked for Motel 6, Super 8 or Holiday Inn. I am willing to stay in a cheap hotel if I am the cheapest accommodation for the place I am traveling.
But in most cases, I look for 5 star hotels. If there are no decent 5 star hotels at reasonable prices, I will look for 4 star hotels.
Funny enough, my first experience in a luxury hotel was not when I paid for myself. It was my friend Dhaval’s birthday. Our mutual friend Phil has a few extra points to use, so we stayed at the SLS Hotel in Beverly Hills. I had a very pleasant experience there, and I have stayed more than 100 times since then. When we lived there, I didn’t meet influential people or do business, but I saw something interesting. Clients who stay at these hotels generally have greater financial success than cheap hotel customers.