Vacation Rental

Cottage Industry 3.0 – VRMB

​​The ​things you ​may be noticing ​in your vacation rental ​market are signs of what is happening everywhere: ​local ​vacation rental businesses are feeling threatened by bigger/richer/global competition and they are changing the way they operate to try to compete with these companies, ​self-destructing​ the foundation ​that gives them ​an edge in the first place.

​But things don’t have to be this way. ​As a group of misfit vacation rental pioneers, we ​are not obligated to follow​ the ​traditional path.  

​Cottage Industry 3.0 is a tribute to ​a moment in history when​ ​artisanal goods were produced at home​ in small amounts by ​specialist, passionate, and often part-time workers. ​With the onset of Industrial Revolution, these Cottage ​Industries (​textiles, shoemaking, locksmithing) faced ​insurmountable competition​ ​in factory-based manufacturer​s ​and mass-production. ​​The factories ​crushed the cottagers. The cottagers ​stood no chance.

But ​we are ​now entering a new era of opportunity.

​Cottage Industry 3.0 is a way of envisioning the future of our industry. It entails equipping small-scale, ​passionate, and specializ​ed ​”cottage” business with modern ​game-changing technology. As a result​​, revolutionizing the way ​small businesses ​connect the world.​

​Cottage Industry 3.0​ ​offers every vacation rental professional who has defined their purpose or goal ​the real
opportunit​y to reach that goal while playing part of a ​sustainable movement.

​But we cannot build Cottage Industry 3.0 without ​two big ​ingredients: 

1. ​Individuality as ​our most precious resource. ​Individuality or ​uniqueness cannot be ​scaled, faked, or mass-produced. So long as ​we emphasize​ ​our personality and host each guest at a time (and each slightly differently​), ​we do not actually compete with mega-managers or hotels. We ​create a separate niche. Click to explore VRMB’s​ Theory of Limited Edition.

2. Technology because it improves efficiency and ​productivity​, ​giv​ing our small businesses ​unprecedented reach. Increased ​tech providers and decreased costs ​is happening now. Without ​technology like Property Management Software, digital ​welcome books, smart locks, dynamic pricing…etc. our ​potential remains forever stunted.

But there is one last important and perhaps unpopular ​idea that helps:

​​Fragmentation ​is ​not just ​a good thing:​ it ​may be our greatest strength. ​A Fragmented industry is usually frowned upon by those who want to ​understand it or control it. ​But the many individual stakeholders of a​ decentralized movement ​are collectively safer (arguably, stronger)​ than a select few. So long as ​our diverse ​stakeholders ​are in control of their businesses, in sync with one another, and ​have ​identified their ​place. Click to ​discover your Vacation Rental Archetype​.

​Cottage Industry 3.0 is also ​call for a new kind of vacation rental future — from the bottom up — in which every stakeholder ​takes responsibility and does his or her part. ​Be​ ​Exceptional: however you choose to define ​that. 

​For those who doubt ​that a​ Cottage Industry 3.0 can thrive, look ​to the following for inspiration: ​craft beer, baby vegetables​, nail salons, party/event planners, food trucks.

But it will not be handed to us on a silver platter. It requires…

  • ​Deciding on ​the purpose of your vacation rental business
  • Finding and utilizing the right technology to achieve that purpose without compromising your values, standards, or lifestyle
  • ​Uniting with other like-minded professionals in neighborhoods, virtual forums, and industry-wide ​events

Cottage 3.0 is not ​a fantasy ​or pipe dream. It is the vacation rental future that ​many people​ long for. It is a theme you will see ​in VRMB’s work in 2020. And it will improve with your input…

Question: What does Cottage Industry 3.0 look like to you?

(Please ​see comments section below)

Source link

Comment here