In the first part of this series we looked at the three primary elements of your foundation – a business plan and executive summary, your niche and a SWOT analysis. This episode delves into the seven remaining key components that will assist in securing a strong base for your short-term rental business.
You can of course grow these along the way and that is what many property managers do, but if you are either starting out or even a few years into your business, it’s worth taking a hard look at your structure and getting it set early on.
From building a website that will grow with you, selecting the right technology, establishing a robust communication flow, to simply networking with other business owners, these fundamental pieces will allow you to drive forward your business plan.
There’s a lot to pack into this hour and you may need to listen in once or twice, take notes, then review several times, particularly if you are wanting to grow your short-term rental company to a decent size.
In this episode you’ll hear:
- Why you should never operate in a vacuum
- The three things you could do today to begin networking
- The reasons travelers will never find your website and what you can do to make it sticky
- What you need to know about getting PMS selection right from the beginning
- The importance of an end-to-end communication workflow and how we do it
- How to stand out from the competition with your most important clients – your owners
- Why your ‘boots on the ground’ team need to be in place before you kick off
- The essentials of your basic marketing strategy