2.13 Key Milestones and Business Future

WEALTH AS A VACATION

2.13 Key Milestones and Business Future

Write down explicitly what your plans and goals are for your business, plus the key milestones that will help you achieve these targets. When you start any project, whether it is going back to university, losing weight, or starting a business, it is really important to track your project and also to track your progress. This section will be useful to refer back to, to ensure you’re on the right track. After all, if you don’t set any goals, it might be easy to remain where you are.

For your rental business, here are some good milestones. Determine answers to these questions before you begin:

• How much do I want to make per month? • How many guests do I want in the fi rst quarter? • What rate of growth do I want in my bookings year-on-year? • How many returning clients do I want each year? • What percentage Retention Rate year-on-year should I achieve? • How long before I look for my next purchase? • What annual increase in ADR do I want to achieve?