“Why don’t we do something new”

The question – asked in an unmistakable mother-in-law tone – hangs in the air for a while. We have our little biyearly  “discussion”again, since it is 2012, it’s time. I call this game: Do something for the sake of doing.

[content_box_light_blue width=”75%”]We own and operate a baby and children friendly vacation rental since 2005. It is only used here as an example and not intended for promotion since it is mostly out of your reach. [/content_box_light_blue]

My mother-in-law – our  market intelligence department – keeps an eye on our competition in the village. She is reporting regularly what new features were added to other vacation rentals and how they are doing in terms of guest movements (counting cars is the best measure she has –  so much about social media traffic).

When ever she sees some new feature, she tries to persuade us to add something new as well. Steam bath, sauna, open fireplace in the garden, trambuline, bike rental service, roller-coaster, billiard table, pet zoo, shooting range  anything! The idea of adding some new feature to our vacation rental is great, but there are many things to consider. And the debates starts. When I got tired of refusing wild ideas I come forward with my usual “stupid” list of questions:

  1. Do our customers base would like it? – Let’s ask them, they are an e-mail away
  2. How much does it cost? – Usually more than I like.
  3. What are the operational costs? – Sometimes nothing, those have better chance with me.
  4. Will it bring any work overhead? – It better does not otherwise ditched.
  5. Will it bring extra revenue ? – Dream, dream, dream…
  6. Is it a must have to stay competitive or a nice to have? – Rule of thumb in our case – 9 out of 10 are NTH
  7. Are there liability issues? – This point for US readers, we are pretty careless in Hungary 🙂
  8. Do we have enough room for it? –  No
  9. When do we have the budget and the time? – Never
  10. Are the any maintenance planned to the house which is more important to spend money on? – Of course but nobody cares

Every year there is at least one major item which makes it all the way to realization and a lot that falls.

Those that do not make the cut have an excellent use as well. They provide a constant source of material to fuel the endless nagging by my dear mother-in-law

[content_box_red width=”75%”]Create your own list of questions for your own business so when the urge hits you to “Do something” you have a solid base of evaluation.[/content_box_red]

Coming: Take all the money you can!