Hello again and welcome. It’s Yvonne here, with a couple more reasons why Bed and Breakfast businesses don’t make enough money. So let’s get started with number one for today:
Lack of personal and business boundaries. I see this a lot with B&B owners, and because it’s really like having house guests, we sometimes feel we need to be on duty 24/7 to make sure that everyone is happy. This is the fastest way to burn out and exhaustion, for sure. Having that personal touch, contact with the owner of the establishment and tapping into their knowledge of the local area are some of the reasons why people choose B&Bs over impersonal hotels, but that doesn’t mean that we need to be slaves. Having our own personal space and personal time is absolutely essential to our own sanity. Being able to be on top form when we are on duty, means taking time out for ourselves and our families on a regular basis, and letting guests know that you are not available all the time is very important. People don’t respect people who don’t respect themselves, so make sure you have put those boundaries in place.
Next is lack of investment in new skills. The world is constantly changing and how we did business a few years ago may not be working today. This was certainly true for me, and it maybe true for you too, especially if like me, you’ve been running a B&B for some years, and before the arrival of the internet.
The internet has provided us with many new tools and technologies to help us and our businesses and we must learn how to use them, and especially not be afraid of them. When learning anything new, there is sometimes a fear of whether or not we can do it, or will it work, but we must overcome those fears if we are to move forwards in our businesses.
Let me share a little story with you. A few years ago, I had decided that I wanted to build a 6 figure B&B business, just to see if I could. I thought it would be fun just to try it and see if it worked. I knew that I needed to invest in some systems that freed up my time to concentrate on other things, so I invested in an all singing, all dancing Customer Relationship Management system. Don’t worry if you don’t know what that is, that’s not the point. So I signed up and bought this software on a monthly subscription, and included some follow up coaching calls from a representative of the company. It was quite expensive for me at the time, but I persuaded myself I needed this software to grow my business.
After a couple of coaching calls, I got cold feet. I started wondering why I had spent so much money on this, and I sent off an email in the middle of a panic attack to say that I needed to cancel and that I wanted a refund. Well, my coach, who had probably seen something like me before, ignored it. And then when I rationalised my thinking, I realised that it had been a mistake to cancel. I sent off another email to my coach, this time he replied saying he’d already binned my first email!
That piece of software has revolutionised my business over the last couple of years and I can’t imagine life without it. And the funny thing is, the monthly subscription amount I pay, looks much, much smaller than it did at the start.
We must overcome our fears if we want to grow our businesses. If we don’t change, then nothing changes. Remember what Einstein said, if we keep on doing the same thing and expecting a different result, then that is the definition of insanity.
I hope you found this useful, and if you’re still with me, I know that you’re thinking about joining us in Champagne for our Workshop in November. So don’t wait any longer and miss out on the special early bird price of two for one. You only have until midnight French time on Friday, to take advantage of the special Early Bird Price of two for one, so simply click here and book yourself on. I’m looking forward to having you join us. Thanks for watching.