so you think you can do business?

Are you ready for today? I’m not always. And recently, I’ve been having conversations with several people who are holding expectations of themselves that are way beyond their experience.

You’ve heard it said before, business is a marathon, not a sprint. Today, you will be introduced to the pieces of the marathon. You got this.

in this issue…

• embark on the thrilling mastery ride of your entrepreneurial quest.

• actionable questions: Stirring your inner go-getter to take the plunge.

• four key components: Unraveling the business enigma you never knew existed.

• marketing techniques: Transforming your hospitality business into a crowd magnet.

• secret ingredients: Unleashing game-changing tricks to elevate your mastery.

• announcements: Brace yourself for a smorgasbord of exciting ventures.

so you think you can do business?

(If the title above gave you some of those SYTYCD (IFYKYK), I will consider this a success!)

Here's a little secret: mastery is the name of the game for your short-term rental business. But hold up, don't go thinking you're learning just because you're bingeing podcasts or scanning blogs. Those three little troublemakers, hearing, reading, and listening, aren't your golden tickets to learning.

Real learning? It's all about mastery. And when it comes to business, we've got a four-course meal for you: lead generation, lead conversion, customer ascension, and customer retention. Like an orchestra conductor, you've got to master each section to create a harmonious masterpiece.

So, pick up that baton and embrace the journey because mastery isn't a destination – it's a never-ending pursuit. As good ol' Leonardo da Vinci said, "Realize that everything connects to everything else." And in business, those connections are pure magic.

Now, let's take a closer look at those four mouth-watering courses of business mastery. First up, lead generation – a delightful appetizer that brings potential customers to your door. To cook up a storm, you'll need a mix of creative marketing techniques and a solid understanding of your target audience's needs.

Next, lead conversion – the savory main course. It's time to turn those potential customers into paying guests. This means perfecting your sales pitch, providing enticing offers, and showcasing your property's irresistible charm. Remember, it's not just about providing a roof over their heads but an experience they'll never forget.

Then comes customer ascension – the irresistible side dish that keeps 'em returning for more. Focus on upselling and cross-selling, offering packages and add-ons, and creating memorable experiences that make guests feel like VIPs. Because, hey, who doesn't love a little extra pampering?

Finally, the pièce de résistance – customer retention. This sweet dessert is about building loyalty and ensuring your guests return for a second, helping or spreading the word about your great short-term rental. Maintain a genuine connection, listen to their feedback, and strive to improve.

So, whip out your apron, dear entrepreneur, and let's get cookin'. Mastery in your short-term rental business is a culinary adventure, and it's time for you to become a Michelin-starred chef. Bon appétit!

As you embrace your inner Michelin-starred chef, remember that consistency is key. In the world of short-term rentals, you're not just competing with other entrepreneurs but also established hotels and B&Bs. To stand out, you need to deliver top-notch service every single time.

Now, let's talk about a few secret ingredients that can elevate your mastery to the next level. Firstly, automation – your sous-chef in the digital era. From managing bookings to sending out pre-arrival instructions, automation can save you time, reduce errors, and keep guests happy.

Secondly, personalization – the cherry on top of your rental sundae. No one likes a cookie-cutter experience, so tailor each stay to your guests' preferences. Whether stocking their favorite snacks or recommending local attractions, those thoughtful touches can make all the difference.

Lastly, don't forget to keep learning and evolving. The short-term rental industry is ever-changing, and staying ahead of the curve means adapting to new trends and technologies. Attend industry conferences, join online forums, and network with other entrepreneurs to exchange ideas and best practices.

Armed with these tips and a relentless pursuit of mastery, you're well on your way to building a thriving short-term rental business. Embrace the challenges, savor the victories, and always remember to have a little fun along the way. Because as Julia Child once said, "The only real stumbling block is fear of failure. In cooking, you've got to have a what-the-hell attitude." And the same goes for your business endeavors.

questions to consider:

1. What steps can you take today to start mastering one business area and improve your cash flow?

2. How can you apply the concept of breaking down your business to its essential components to set achievable goals and track progress?

3. Which resources, tools, or networks can you leverage to enhance your learning and mastery?

7 Essential Marketing Techniques for a
Successful Hospitality Business

Here are some quick ideas to consider if you spend “too much” time in your business and not on it.

• Leverage Technology:

  • Example: Implement an online booking system on your website to allow guests to make reservations directly, thus saving time and increasing efficiency.

• Use Social Media:

  • Example: Create engaging content on platforms like Facebook, Instagram, and Twitter to showcase your property, highlight special promotions, and interact with potential and current guests.

• Focus on Customer Experience:

  • Example: Gather guest feedback through surveys and online reviews, and use the insights to improve services and facilities, ensuring a memorable experience for guests.

• Optimize Your Website:

  • Example: Ensure your website is mobile-responsive, easy to navigate, and visually appealing, with high-quality images and transparent information about rooms, amenities, and services.

• Encourage Direct Bookings:

  • Example: Offer special incentives like discounts, free upgrades, or loyalty points to guests who book directly through your website rather than third-party platforms.

• Utilize Local SEO:

  • Example: Optimize your website and online listings with relevant local keywords, such as "luxury hotel in [city]" or "boutique hotel near [attraction]," to improve your search engine rankings and visibility.

• Engage with Online Reviews:

  • Example: Respond to positive and negative reviews on platforms like TripAdvisor or Google My Business, thanking guests for their feedback and addressing any concerns or issues professionally and promptly.

announcements:

• use chatGPT to increase your revenue: Click to Register at No Cost

  • This free training will dive deep into using chatGPT to ask the right questions, identify customer needs, and tailor your approach to their unique preferences.

• live listing review w/ Sandi Chuck - Florida, 1 BD: Click to Register at No Cost

  • Come join us for a special review session with one of our students! We'll review their Airbnb listing and provide feedback on improving it. During this review session, we will go through each aspect of the listing, from the photos to the amenities offered. We'll discuss what works and what doesn't and how to present your property best, so guests feel comfortable and safe.

• LEDA is coming!

  • Our upcoming Clubhouse event, LEDA - Live Every Day in April! Join us for a month-long celebration. Join us on Clubhouse today; click the link of the Cashflow Diary Cartel to get in on the action!

Thank you for letting me know.

that’s it, for the moment…

J. Massey

PS: Here’s a way we both can grow: