2.4 Company Analysis

WEALTH AS A VACATION

focus, planning, and attention to detail. Why not force yourself to spend some time and think things through? I encourage you to say, “Hey, this is the fi rst one, and it’s going to go so well that I’m going to do 20.” Thinking big like this opens your eyes to the mindset you need to have, which is: “Oh, I better give this some thought.”

Again, begin with the question, “Who is my customer? Are they me? I love this place because it’s close to Disney. I love this place because it’s got an incredible, world-class golf course. I love it because it’s got a water park. I love all of these things, and my kids will love it, and when they grow up, their kids will love it, too. You are your fi rst customer. Invest in the places you love. Is it the Grand Canyon? Is it ski resorts? Is it a tropical island? Great. Begin there.

2.4 Company Analysis

In this section, you will review the characteristics of your new vacation rental business, outlining the unique attributes and off erings it will bring to the existing market. Performing a short analysis of your company and fi nding your unique selling points is much easier than you think. All it takes is asking yourself a few simple questions to fi gure out how it is you’re diff erent (and better) than other rental properties out there.

Here are a few examples:

Is your VRP better than others because of its location? • Is it closer to the beach, mountains, or manmade attractions? • Is it located near vacation amenities, services, retail? • Is it isolated and serene, right in the hustle/bustle, on a great lot, or off er other desirable location characteristics?

Is the price of your accommodation better? • Are you the cheapest accommodation around? • Are you the best value? • Do you off er discounts at certain times of the year?