VRS381 – Do you have a Plan B for your Short-Term Rental Business?


This episode of the Vacation Rental Success Podcast is sponsored by Beyond Pricing
An automated dynamic pricing solution that utilizes real-time market data to ensure your prices maximize revenue and occupancy


Have you ever really thought about what might happen if you were taken out of your business in your busiest time?  By taken out I mean falling ill, having an accident, or an incident that removes you from the operational activity for a period of days.  When my beloved dog passed away recently, I was thrown out of kilter for a few days – I couldn’t concentrate or focus on anything, and I was just a mess.

Fortunately, I have a great team that stepped up.  My business partners in both Vacation Rental Formula, and my property management company, seamlessly took on some of the pressing tasks until I felt able to resume normal activities. 

This just took a day or two but imagine if it had been for a longer period.  Say if a child was sick or injured and required constant attention.  Who would care for your business while you gave 100% to that person who required it the most?

You’ve maybe never given much thought to contingency planning – exploring potential scenarios and making sure you have something in place to handle them, even if you are not there.

PMs in hurricane zones do this.  They have evacuation plans and know exactly how they will deal with guest questions and concerns over their reservations when a hurricane is in the forecast. 

This episode explores a number of different scenarios where having a Plan B can save you from a lot of stress and anxiety.  I talk about:

  • Why every entrepreneur needs an understudy
  • What happens when only one person knows a platform
  • Staff handbooks and loom videos
  • The value of a brainstorming retreat
  • Backup plans for every eventuality including a dead goose
  • Weather-related planning
  • When the bed bug complaint comes….and it will

Loom

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