Out with the Old, In with the Bold - Making Changes Work in 2024

We all do it.

What works.  

And there’s nothing wrong with that.  If you have a successful strategy why change it after all?

But think on this.

Are you tired of doing the same old thing in your vacation rental business? Are you stuck in a cycle of predictability, offering the same services and experiences year after year? 

Do you want to escape the rut?

Wait a minute…this sounds like a Facebook ad.  Am I about to start selling you an amazing course that will have you quadruple your income in six months without you lifting a finger.

Nope.  Sorry.

But I do want to share some thoughts on getting out of the same-old same-old mentality, because it’s time to break free from the monotony and embrace a fresh perspective in 2024. 

As the saying goes, "If you always do what you always did, you'll always get what you always got” and I’m as guilty of that as anybody.

Many hosts and property managers get comfortable with their tried-and-true methods. After all, if it worked in the past, why change the pattern?  But listen up -  if you stick to the same routine, you may be missing out on the chance to stand out in a crowded market and offer your market something truly different.

Embrace Innovation

You are probably familiar with this quote:

“Insanity as doing the same thing over and over again and expecting different results”

Look back over 2023.  Did you get the growth and success you wanted?  

Chances are you felt some stagnation after the crazy times of the previous two years.  Facebook groups and forums are filled with woes of lagging bookings, popular weeks lying empty, and challenging guests.

For a few, this has been the last straw and there’s been more ‘I’ve had it with this business’ posts than we’ve seen in a long time.

For others, they are hunkering down and hoping things will be different; more people will travel close to home, and the economy improves enough to encourage more confidence.

And then there’s the pioneers.

The ones who will challenge the status quo, explore new technologies, guest experiences, and develop new marketing strategies that will set them apart from the competition. 

These are the business owners who are ready to research, read, listen, learn and find  emerging trends.  Then do the work to figure out if they can make some really positive change.

Here’s some ways this could go:

Provide An Exceptional Guest Experience

The phrase ‘guest experience’ may have been overused in recent years however doubling down on making guests feel good is still one of the top ways to grow a business.

The best property management companies in the world are not necessarily the big ones, but they are the ones who are raising the bar in hospitality.

They are putting the concepts of Will Guidara’s ‘Unreasonable Hospitality’ into actual practice and putting extra effort into being different.

And it’s paying dividends.

The operators who are incorporating unreasonable hospitality strategies are seeing the benefits.

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In 2024, the key to success in the short-term rental industry will be providing exceptional experiences. 

Today's travellers seek more than just a place to stay; they want a memorable journey. How will you deliver that?

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Personal Growth and Development

The two days of the Vacation Rental Women’s Summit in Nashville were inspirational.  What stood the event apart was the focus on personal growth and development, good mental health and well being.

 The clear message was that any change starts with you. 

Seek out training, networking opportunities, and mentorship programs to expand your knowledge and skills. Surround yourself with like-minded individuals who share your passion for innovation and success.

Why not start with reading some of the books written by those who are active in the business.  

Get Out of My Head by Andrew McConnell (Founder of Rented.com)

In Deep Shift -  Riding the Waves of Change to Find Peace, Fulfillment, and Freedom by Valerie Gangas (Founder of Juniper Holidays)

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Inspirational Success Stories

There’s a lot of people in this industry who have dared to be different, who have rebranded themselves and found their niche.

They didn’t stay the same, doing the same things day after day.

Seek out and listen to podcast episodes where they tell their stories. How Andy McNulty, the CEO of Touchstay pivoted from being CFO at Gucci and an interim CEO for Victoria Beckham, to creating the best guidebook platform.

What took Vanessa de Souza Lage from her technical roots at Rentals United to the innovative and ground-breaking environmental certification at Sustonica.

And how Dennis Goodheid gave up a printing business in Belgium to running one of the best branded companies in Orlando.

Learn from hosts who dared to be different and reaped the rewards. Their journeys will serve as proof that embracing change and innovation can lead to remarkable results.

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As we wrap up 2023 think about the  endless possibilities the new year offers for those willing to break free from the cycle of "same old, same old." 

Embrace change, innovate, provide exceptional experiences to your guests and look after your own well-being.

 By doing so, you'll not only avoid the trap of insanity but also create a thriving short-term rental business that stands out in a competitive market. 

Remember, it's never too late to make a change, do something different and maybe, take a risk.