Q&A from the Training - More Listings, Higher Profits
Summary
This article discusses insights from "Get Paid for Your Pad" training courses on scaling an STR business and effective revenue management. Hosts can learn how to create actionable plans for growth, understand revenue management routines, and identify common pitfalls like decision fatigue and operational overwhelm.
Key Insights
- •The article emphasizes the importance of scheduled, not reactive, revenue management routines for STRs. It also highlights the need to review every booking to identify pricing and demand signals.
- •STR CEOs can waste 30-50% of their time on low-value activities. They should rethink priorities and identify business bottlenecks to improve overall business operations.
Action Items
- ✓Evaluate your time spent on tasks and identify activities that can be delegated or automated to free up your time.Effort: mediumImpact: medium
- ✓Review your booking data regularly to spot pricing mistakes and demand signals.Effort: lowImpact: medium
Tools & Resources
- →Freewyld Foundry: Learn more about Freewyld Foundry
Watch Out For
- ⚠CEOs can get bogged down in low-value tasks and action can be confused with momentum in growth.
- ⚠Many STR operators underperform not because they lack tools, but because they don’t know what to look at, when to look at it, or how to interpret booking behavior once it shows up.
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