The Vision for Freewyld
Summary
This article is a collection of insights extracted from episodes of the "Get Paid For Your Pad" podcast, focusing on scaling an STR business, revenue management, and overcoming the hectic host stage. Hosts can learn how to build a strong brand vision, implement consistent revenue management routines, and avoid common pitfalls associated with overwhelming operations.
Key Insights
- •STR pricing is dramatically harder than hotel pricing.
- •CEOs waste 30 to 50 percent of their time on low-value activities.
- •STR revenue management must be scheduled, not reactive.
- •Early bookings can indicate underpricing or upcoming events.
- •Operators stay stuck in the hectic host stage even as they grow.
Action Items
- ✓Implement a daily and weekly pricing routine to stay ahead of your market.Effort: lowImpact: medium
- ✓Identify the biggest bottleneck in your STR business and focus on addressing it.Effort: mediumImpact: high
- ✓Schedule time for CEO-level activities, such as reasoning, decision-making, and leadership instead of getting caught up in reactive work.Effort: mediumImpact: high
Tools & Resources
- →Get Paid For Your Pad: Listen to the Get Paid For Your Pad podcast.
- →Freewyld Foundry: Check out Freewyld Foundry.(https://www.freewyldfoundry.com)
Common Mistakes
- ⚠Trying to fix everything at once slows growth.
- ⚠The biggest revenue mistake most STR operators make isn’t their pricing tool… but the lack of a daily and weekly pricing routine.
- ⚠Operators chase “squirrels” instead of closing the hole in the roof.
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Curated by Learn STR by GoStudioM