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Why me? Why now?

If you have found this website and you might be wondering what skills I have to pull off this challenge to Double my Rental Income from our holiday homes.

It’s a good question, after all am I doomed to failure? Well I hope not, I am setting off in an optimistic mood and I am helped by a sense that I have just about perfect CV for someone trying this.

First of all we’ve been renting out our holiday homes for a number of years, and prior to that saved both of them from dereliction, restored them and modernised them. So I have real experience of the actual task of property development and holiday home management. And we’ve been successful, our houses are full when others aren’t, and we’ve been delighting our guests.

Both my wife and I are experts in marketing (that’s our day job), both experienced in leading marketing for large corporate worth tens and hundreds of millions. I have a marketing consultancy business and I’ve worked with businesses large and small. I’ve consulted to many local and regional tourism groups and providers, advising them on marketing and the Internet.

The internet is crucial to success today, in all forms of business, but particularly for tourism businesses. I’ve been involved in the internet since way back 1993! My first £1M website was in 1995. When we moved to Ireland (from London) in 2002 I created a local destination website for my adopted town and introduced many local tourism providers here to the internet, and ecommerce. It was free gift to the businesses of our new town and has generated several million Euros worth of business for them.

In London I was the MD of a large rental business, it had been established 35 years but had become an industry laggard. In four years of excitment and challenges we swept away our competitors and became to the European market leader

So …. with all that experience in marketing, the internet, hospitality, tourism and rental you would expect that I’d have made sure that everything was perfected in our own nest-egg investment property… But no, I don’t think it is and I am sure that’s there’s much to be done to get the best results.

Why am I so sure or this… ? Because of a conversation I was having with my wife just a few weeks ago. I was telling her that we’re already booked out for many of the peak weeks of next summer … more than a year in advance. In truth I was wallowing some self satisfaction,  I was patting myself on the back. I went on to tell her that I expected our income would rise by about 10% next year.

Even as I was saying those words “rise by 10% next year” I had a moment of realisation. I saw myself doing something that I always tell my consultancy customers to avoid. I tell them to avoid being satisfied with moderate growth and not to spend time planning for moderate growth. I tell them and spend their time working out how to achieve extraordinary growth!

I believe that if you plan to do just a little bit better … you might do it, but you won’t double your business. However if you really try to do the extraordinary you will always do better than you thought you could. I have said this endless times to my customers, and my staff, and yet here I was being satisfied with 10% growth. But I am not going to be satisfied with 10% any more, I want double!

From that moment I immediately started to sketch out this challenge; to double my rental income. As I did so we both started applying our professional skills and experience in a way we simply hadn’t before. This is our own micro business and yet we hadn’t treated it like it could be ….extraordinary!

In a pretty short time I had drawn up a list of dozens of things that I’ll have to get right to achieve our goal. It’s a soup to nuts list of everything needed to be really successful at renting out our holiday homes from setting up the property to marketing to taking bookings dealing and with customers. Nothing is being left out because everything needs to be right.

So now I have a list (and its being added too all the while) what’s next. What’s the process ? That’s the title of my next post 😉

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