Short Term Rental Riches 120. What’s Your Breaking Point?
Mar 1, 2022
This discussion dives into the concept of weak points in the short-term rental business. The host shares a relatable tech disaster that prompts reflection on preparedness and contingency plans. Insights from the book 'Antifragile' are explored, illustrating how breaking points can ultimately strengthen your business. Strategies for building resilience and managing stress are highlighted, emphasizing the importance of stability in growing your rental portfolio. Tune in for valuable tips on safeguarding your operations!
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Phone Crash Sparks Business Insight
- Tim Hubbard's phone unexpectedly shut down and lost all data during his workout at the gym.
- Luckily, he had backups, so the loss wasn't disastrous and this sparked his thoughts on business weak points.
Always Have Backup Plans
- Have backup plans for critical roles like housekeeping and management to prevent guest dissatisfaction.
- Multiple backups reduce stress and prevent negative business impacts from unexpected failures.
Breaking Points Build Strength
- Small breaking points expose weaknesses but also offer opportunities to strengthen your rental business.
- Like muscles growing stronger after stress, businesses can improve from disruptions if they learn and adapt.
