In the old days, before the internet, much of the independent hospitality industry was populated by middle-aged to older couples looking for something fun to do in their retirement and to make a bit of money on the side.
Glamping hadn’t been invented, B&Bs/guest houses had unremarkable accommodation offerings, and holiday/vacation rentals hadn’t yet been popularised.
Since the rise of the internet, the market has changed dramatically, but have the owners?
The internet has opened up so many options now for guests to choose from, how can you show-case your unique experience, so you stand a chance of winning the hearts and minds of increasingly discerning guests?
There are four key elements necessary to survive and thrive in this new world:
Strategy – your online promise, message and positioning
Structure – delivering your unique experience at your property
Systems – the engine of your business, so it works FOR you
Scale – adding more revenue streams, becoming less reliant on guests
In this post, I’m going to give you a glimpse into what’s required for your Structure to work for you, so you deliver a professional and polished experience for your guests, no matter what
First, let’s remind ourselves that what you’re running is a business, not a hobby
That means that we have to think like a business person, not an employee
In Robert Kiyosaki’s excellent books “Rich Dad, Poor Dad”, and the “Cashflow Quadrant” he illustrates the difference between the “employee” mindset (time for money) and the “business” mindset (value for money)
To be able to deliver a unique experience at your property, and collect those all important 5 star reviews, we’re going to need to understand the difference.
Most of us who grew up in the western education system were taught to work hard, get good grades so we could get a great job, exchanging our time for money (employee)
If you’ve had a career in the corporate world, or public sector and are used to collecting a paycheck at the end of each month, no matter how much work you did, then that’s not going to help you much in your business, where we have to learn how to exchange value for money
This means focusing on creating value.
We cannot create more time, but we can always create more value
As a hospitality owner, you’ll know already that there are many jobs to do, and you probably already wear too many hats.
You may have already created a lot of jobs for yourself instead of delegating
What if I told you that in order to become a truly professional host, and serve your guests like no one else ever could, you need to do LESS work, and learn instead how to master just a few key things?
Let’s first list some of the tasks you may be doing on a daily basis:
- Washing
- Ironing
- Cleaning
- Cooking
- Gardening/outside work
- Maintenance work
- Book keeping
- Shopping for supplies
Now for the important tasks…
- Taking bookings and upselling
- Answering phone calls/emails
- Educating, entertaining and engaging on social media
- Greeting guests
- Marketing your business
The important tasks are the ONLY tasks you should be doing, everything else can be delegated out to your team.
If you’re thinking to yourself, well I can’t afford to hire a team, then I’m going to be perfectly honest with you and tell you, that you’ll NEVER be able to hire a team, until you decide to hire people to do the daily chores, while YOU learn to master the important tasks
All the time you’re spending on low-value chores is time wasted
And the real waste is the psychological damage it does to you, which over time will lead to resentment, stress, depression and ultimately burnout and broke
I’ve seen too many owners over the years, fall into the trap of thinking they need to do everything themselves, until they can afford to hire help
This is backwards thinking and never works
It’s the time for money trap
If you’re going to become a truly professional host, then it’s your job to bring in the bookings and deliver a great experience for your guests
If you’re running around all day long, day after day, you’ll have no energy left for your guests, and they will feel it
When you become a master at attracting guests and being 100% present for them at your property, whether you welcome them in person, or remotely, they’ll feel that too
When your head is full of fears about where the next booking is coming from so you can pay your bills, you’ll have no space to dream up new ideas to delight your guests and add to your bank account
Trust me I know how scary it is to cross what I call the “great divide” between the time for money trap and the nirvana of the value for money mindset
We all need to recognise the difference between “below the line” thinking and “above the line” thinking and where we’re at in any given moment
Ownership
Acceptance
Responsibility
_______________________________
Blame
Excuses
Denial
Here’s some tips to help you on your journey to becoming the King or Queen of your domain so that your guests have a great experience every time, and you continue to grow your bank account
- Focus on becoming a better version of yourself, every day
- Deal with overwhelm by delegating low-value tasks
- Set firm boundaries for yourself and your guests
- 100% self responsibility, no excuses
- Eliminate negative people from your life
- Learn to create value
Remember you can never create more time, but you can always create more value
