You will have a swimming pool full of money from your Rental Business if you will follow these tips.
We all do business to earn money at the first place and then for any other purpose such as passion, dream. Well if not all but most us are working for money. We all want financial stability in order to fulfil our personal and our family’s desires.
So what if the business you are running currently is not generating enough profits? Will you shut it up or just keep on bearing all the losses? Well I have a better option than these two, only for you because you are my friend. You can do a little bit research, work upon certain areas of your business, change some strategies, learn some tactics from competitors and improve. Now I can understand your situation very well, you don’t have enough time to do research and money to hire someone to get this work done for you…. I know your problem. So, I have done this work for you and you know what, you won’t have to pay me anything. Just take out 5 minutes from your busy schedule and read this article completely. I am sure after reading this you will have a basic idea about how to improve your earnings and be reputed in Vacation Rentals Business Market. And I expect you to spare at least this much time for your business. This is least you can do and don’t just read it and forget it, work upon the idea and maintain your performance.
1. Prioritize Your Customers
I went India last year for a business tour with my friend. There I learnt a basic yet authentic principle of business — Treat your Customers as God. Yes they do treat their customers like a God and that’s what makes their relationship with their customers home-like. Now if we talk about Rental Business you should try to maintain healthy relations with your clients. Make sure you pay heed to all their complaints and queries. Just be available to them 24/7 and don’t let them feel betrayed and disheartened. But this does not mean you will invade their privacy, remember they are at your place to have some personal time and not to be bothered by you all the time. Maintain a balance and make sure you are in contact with them.
2. A Clean Home Is Their Right
First impression is the last impression, well it might not be true in case of people you meet but it is certainly true about the places you visit. So if your guests won’t find your place clean in their first visit they will not consider staying at your place again. It will bring bad name to your Business and you may lose potential guests. Bad referral is more dangerous than you think.
Talking on your guests’ behalf, I would say that a clean place to live in is their right as they are paying for it. They will definitely leave negative reviews on your website about your rental property without any hesitation, because they will be disappointed in you. A clean place will lift up their mood and will freshen them up.
You should regularly clean your house and make sure it is hygienic. Imagine they open the main door and everything is spick and span, everything is exactly at its position. Undoubtedly they will love it and will appreciate your service.
A Pro tip:
Make sure to clean your house surroundings as well. A dirty garden is as disappointing as a dirty kitchen. So make sure your garden area, garage, back lawn, the surroundings of your place everything is clean. It might sound absurd but trust me cleanliness can help you earn more 3. money.
3. Bend your finger and lick the butter
No relation is one sided, it only works when both the parties are equally involved. And so does it happens in business, if you are providing a clean home to your clients then it is your right to get it back at least not in a bizarre condition. Be humble and ask your guests to do the basic cleaning. You cannot expect them to do all of it but yes they can do some basic tasks such as loading the dishes, drawing all the curtains, switching off electrical appliances like lights,fans, microwave etc, closing doors and windows, making sure that garbage is dumped into dustbins. You can help them in doing that by putting small reminder slips all over your place or a decorative chart with all the instructions written over it for the same. It depends upon you that how you will get things done with your own creativity. So wear your creative caps and blast it with your kick*ss performance. Make them work without botheration.
4. Safeguard your Rental Property (Deposit Fee)
Some of you might not find it appropriate but charging a deposit fee from guest is not at all a bad idea., Indeed it is a great idea. It will serve dual purposes. First of all you will be relieved from worrying about the damages that might be caused to your property by careless guests. Second, deposit fee will make your guests more cautious about how they handle your property and gadgets in your house. Therefore chances of damage will be less. Convince your guests that in case of any damage only the amount extended to that of the damage caused will be recovered and remaining will be given back plus in case there are no damages your money will be returned to you. A pro tip here is that you can tie up with any online shopping app and provide exclusive vouchers to your guests, if they book your property for a certain period and leave it without causing any damage.
5. Don’t be a bossy boss
A place where every time you find your boss yelling out at an employee is a jail. And such a place feels like a nightmare where you can’t escape the ghost and have to deal with his sh*t. So if you are a boss then treat your employees like family, and they will work more efficiently which in turn will improve your business performance. But it doesn’t limit your powers, you can scold them if they depict wrong attitude towards their work and everything is acceptable if it is done in certain limits. Manage your staff effectively and make them feel at home yet inspired to do their work. Don’t overload them and make sure you have as much direct contact with them as possible, especially your cleaning staff. Maintaining right quality and quantity of personnel is another major decision that a leader takes which directly impacts your revenues. Over hiring and under hiring both will deplete your revenues. So choose optimally.
6. Go Solar… Go Green
If you are lucky enough to have ample sunlight in your Vacation Rental Property and that too for almost around the year, then you can cut down your electricity bill to almost nil by installing solar panels. Yes, it will put burden on your pocket for sometime but in long run this is a win-win game. Because solar panels are eco friendly and they are long lasting. Second, your environment loving guests will love it too. And if you want to them to be overwhelmed by their choice of choosing your property, then keep your garden in upright condition. There are different flowering plants in your garden to give it a contrasting look. Make sure there are no mosquitoes breeding in or any other harmful creature residing happily in your garden area.
You can further have segeragated waste management system so that recyclable waste can be recycled. Remember that mother earth is providing you with all of these resources therefore this is least what you can do for her. Make sure you harm you planet as less as possible. And if helping mother earth is increasing your bookings from your environmentalist friends then what’s the problem. Grab every opportunity dude.
Business is just like life, in order to grow you need to improve and keep going on. Similarly if you really want to achieve success in your rental business then never give up. Start with some small things and make huge difference because small pieces of puzzle makes a complete picture. Use these tips to improve and see the results. Every business is different just like our fingerprints. So understand your needs and work on it. Don’t stop at a point work hard and expand. And after expansion, try to maintain your position. That’s what matters. Many startups fail because they just don’t keep going on and want instant results. Be patient, have a muffin and work more without much load.
The Value of Entrepreneurial Innovation to Convert Your Business Into a Brand
A common question that often pops up while starting a new business is:‘How much value will we place in turning this business into a brand?”If you are looking for ways to appeal to and reach out to several customers, then you need to find out the answer for thiscritical question.
The first step towards understanding the value of an entrepreneur to convert your business into a brand, is to understand the importance of branding. This process helps business owners to brand their products or services so that customers will remember them, and be attracted to buy from them again. Businesses have to be careful with this process, as it is often do-or-die in terms of retaining or losing their customers.
Branding takes time to accomplish because it requires a lot thought, effort and time from business owners. There are a few key elements to increase the value of converting your business into a brand. Leading entrepreneur Lewis Schenk has a unique strategy that is unseen in the current industry, which is integrating publication relations into branding and marketing strategies.
Who is Lewis Schenk?
Formerly an elite amateur/aspiring professional golfer, Lewis’s golfing dreams became more difficult when the covid-19 pandemic hit in January. With his plans put on hold without being able to play golf, he quickly pivoted with the help of one of his mentors. “I moved super quick when I knew the pandemic was about to hit. My plans got put on hold but I was fast to adapt” Lewis explains. Having journalism experience with projects he did in college in the USA, Lewis used his network to build his own agency, Boost Media Agency. Since then, he’s served over 150 clients, helping themto get featured in leading digital publications and become the most, known, liked & trusted in their industries.
Integrating PR & Branding
As a business owner, it is your job to ensure that you stand out in the market.You have to ensure that you will not waste precious advertising money in the start-up phases, by buildinga brand that has a high value to your audience – meaning more money and profits in the future. “As business owners, we cannot just jump into this process. It requires a lot of time, effort, guidance and money for this to be successful, and we have to be sure of our strategy before starting this process” Lewis explains. This is where Lewis shines, as he specializes in coming up with unique public relations strategies and ideas to ensure maximum growth for his clients.
A new business is a risky investment. There are many risks involved in setting up and running a new business, and one of these risks is the loss of your customers and losing your market value. A lack of strategy and experience is the new entrepreneur’s biggest downfall, as they spend all their money on pointless hacks and courses. Investing in public relations is the best form of advertising, as for one, its permanent. Rather than spend $200 on advertising that will run out on a week, spending $200 on a published article to a leading news site will yield results long term, as it remains permanently, meaning increased chances of more eyeballs seeing it over time. As a business owner, you must learn all you can about this process or consult with someone like Lewis who does, so that you know the value public relations to convert your business into a brand. With this knowledge and understanding, you can control your strategy, your business and your success.
Also,as business owners, we must use a strategic approach in our decision making. This strategic plan will help you to overlook the strengths and weaknesses of your business and how they can be turned around.A strategic approach also involves finding out what the strengths and weaknesses of your business are and implementing the appropriate changes to make your business more profitable. Evaluating your current business model to identify the strengths and weaknesses of it, can greatly improvethe company by making some tweaks and adjustments.
Ensuring that we don’t invest money and time in the wrong areas of our business, by shifting the focus towards branding and public relations in marketing strategies, will ensure far greater business success.A business without publicity has no potential for expansion. If you have no courage and time to take these steps for your own business, then you realize the value of hiring a professional entrepreneur such as Lewis Schenk, to convert your business into a brand.