You have spoken- it’s time to talk more about money, so let’s talk about it. I often do surveys to learn how I can best serve my clients. In the results, there are so many comments about money, how to make more of it and how to streamline operations to save costs. Whenever I have posted about money on the blog or social media, people can’t get enough of it and one of the top searches that brings people here is Monetizing hacks for Airbnb & STR hosts.
That said, it is a massive topic. Once I sat down to tackle it, my fingers couldn’t hit the keys fast enough. So I have decided to make this into a series of posts. So each Monday I will publish a new post covering a different area of hacks for monetization for Short Term Rental (STR) Hosts and Airbnb Hosts.
A bit of background
I have been consulting and blogging for a while now. I talk and write a lot about marketing, mindset and of course, safety. These are all important things that STR hosts must keep in mind.
However, I have noticed I skirt around the topic of money a bit. With my own business coach I have been digging into this more and more and the results have been enlightening. Writing about money has been a journey in itself, and has helped me uncover some of my own blocks and money stories but also made me stop to look at where I am now, how I got here but also where I want to be.
Please indulge me a little by letting me get personal with you.
My History
If you read my history about how I got into hosting, you will see that I built up a large business quite quickly. It was a combination of luck, timing and my own drive but it was not a planned thing.
Long story short, I built a 7 figure (yes you read that right) business from scratch. It was a case of FIRE, AIM, READY. But it still kind of happened by accident. I didn’t set out to make lots of money. But certainly, we have had more than a few years where the revenue was high 6 and then 7 figures. I don’t often stop to remind myself of this but when I do, it does feel really good.
However, I am most proud of the results that relate to the guest experience. How I have made so many guests happy, how many guests return and how I have helped them have a safe and memorable stay. This explains why much of my blog centers on the guest experience side of hosting.
Build a great guest experience and the money will flow has really been my approach.
I also love how starting this business allowed my family to build a house, travel and lead an incredibly abundant life. Plus I am proud of the fact that I have been able to help other hosts create a successful hospitality business that brings them fulfillment and abundance too.
Of course I like money – don’t get me wrong- I don’t think many people out there can say they don’t like money. I like earning it and I love the freedom it brings me and my family, but it isn’t the thing that drives me or pushes me. I don’t use it as a measure of my success. Or at least that is what I tell myself.
So if you are reading this, you are really reading in real time the unpacking of my own money story and how I am working through my blocks.
Those STR “gurus” & being the anti-guru in terms of monetizing hacks for Airbnb & STR Hosts
You have seen them haven’t you? I know I have. Those guys that have YouTube channels or $2000 courses standing in front of rented sports cars telling you that you can earn a million dollars in 15 minutes if you buy their course. Slick marketing campaigns and funnels with lots of great free content all about monetizing for Airbnb and STR Hosts.
They turn my stomach too. Or maybe I am jealous that they have nailed their digital marketing strategy to earn a living from selling to hosts.
The sad part is that they promise riches from hosting but neglect to tell people that it is hard work and NOT passive income. Yes, I am here to tell you that sustainable monetizing for Airbnb and STR Hosts is NOT actually easy. These hosts who believe these get-rich-quick promises flame out as the reality of the hard work of hospitality and administration sinks in. They forget that it is real life humans who are the customers and these real life humans do expect a clean and well maintained property.
In my own hosting, I have seen the results of too many money hungry hosts in the real world. They end up neglecting their businesses, their guests and the guests have bad experiences. I know this because we end up hosting lots of guests who have canceled after one night to come and stay with us.
So I have deliberately avoided being a “me too” version of the “gurus” who created these neglectful hosts and I have really taken the angle of Wholehearted Hosting. I firmly believe in the philosphies of Wholehearted hosting but I think in my eagerness to be ANTI GURU with empty promises, I have neglected talking about the elephant in the room – MONEY.
But with this series of posts over the next month, I will address this. When it comes to money & monetization- the things I have learned and the strategies I have used to maximize revenue. This is what I really want people to learn about.
Imposter syndrome
Yes – that little voice that tells you that you are not good enough, or minimises your efforts or tries to rationalise your success by calling it luck. We all have this little voice in some form or another. Mine tells me that I am not qualified to talk to anybody on how to make money from nothing as I don’t have a business degree or an MBA or a massive company.
Plus if I built up a 7 figure business by accident, how can I help anybody else to replicate this? I certainly can’t guarantee this.
I guess this explains why I skirt around the topic of money in my posts and in many of my coaching calls also. Perhaps I don’t believe I deserved the success because it came on unexpectedly & quickly. But also I was so busy running the business that I didn’t often take time to celebrate all of the successes.
But the reality is that I need to remind myself of the success and take some time to celebrate it.
That said, over the last decade I have spent much of my time thinking about money in my hosting business. I have tweaked, tested and instinctively worked on my business to maximise the earnings.
I built a 7 figure business from nothing so I AM qualified to talk about monetizing hacks for Airbnb & STR hosts. Hindsight of backwards looking, I can tell you how it happened and the things that worked and the things that didn’t. So even if you don’t have the same instincts as me, I can show you the way through my stories.
Read my stories and look at your own business. Then it is up to you to do the work and take the learnings from me and make it your own.
So in the interest of imperfect action, I have written my opinions about how to make money and monetize in the Short Term Rental Industry.
Getting over myself
I know this introduction may seem a bit rambling. And the truth is I have probably shared a bit too much about my own psychology but I also wanted to set you up with some real expectations.
I will NOT claim to have all the answers. I am writing from my own experiences, instincts and truths I have learned from my hosting, trial and error and also from my community of clients and other friends who are hosts.
But if I can help you earn extra money and also raise your hospitality standards in the process which of course leads to repeat guests and give you some more tips, then I have done my job.
So watch out for this series of posts and please comment or reach out to me. I really want to know that I am providing a useful service to my readers.
So with my hand on my heart, acknowledging my inner critic and imposter syndrome, the monetizing hacks for Airbnb & STR Hosts kicks off on Monday.
disclaimer: We may receive a small introduction fee from vendors linked in my posts. This will not affect any prices that you are charged. But I will only recommend vendors that I know and love and ones that I have used for myself as a customer.
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