Topics Covered in this Airbnb Quick Tip
- What is the right Mindset
- Short term versus long term
What’s up Airbnb Nation this is Danny the Airbnb pro coming at you from the botanical gardens and Zoo in Hong Kong.
This week’s Airbnb quick tip is on the Right Mindset that I’ve been touching on over the last few months and it’s been hard for me to figure out exactly how to cover it, tell you what this mindset is; this right mindset to be a successful host now and in the future.
So I have an example, I have a couple examples. This Airbnb quick tip was brought to you because I got a complaint on a Super Host Optimization recently.
The host was unhappy that they did not get any bookings within the seven days.
Well, to be fair I do advertise “hey you should get this amount of bookings on average within seven days”, but again I make it very clear, this is an average. 20% don’t get it.
And I even shied away from the advertising this because there’s so much more value in the report, long term value than that seven days. I measure that seven days because it gives me a number that people ask me about.
So this host it’s a good example of short term versus long term mindset, which is really the different between the right mindset and the wrong mindset.
“If you have the right mindset you’re more of a long term thinking person along the Airbnb guest if you don’t have that right mindset yet you’re just in the short term”
So this host to complain, they don’t have the right mindset that just in the short term. They just were focused on that seven days.
Regardless of the dozens of comments that I had in the report, that I made changes and suggest to stem the future that be as successful as the future made no difference to them, they only were concerned about that seven days now.
Another example is from my host in Hong Kong now.
The prices here in Hong Kong are very expensive and so I reached out to one of the hosts and I said “Hey if you want to give me a discount…” I told him what I do I say that “I can improve your listing quite a bit if you’re willing to exchange a little bit of a discount for my services I’d be grateful and happy to do that… I’ll give you some more one personal time as well”…
…But he said, his response was polite but he said basically: “Thanks but no thanks. I just put my listing up and I have a lot of interest in it right away.” And so that’s great for him, but that’s all right perfect prime example of a host in the short term. To later on, I booking this listing anyways.
So when I got to this listing I realize that, this is what I clicked for me off, this host is going to reach out in a month, two, three months time and say; maybe not this exact was but this kind of host profile and gonna say: “I started one, two, three months ago was doing great and that now I don’t have any bookings. Why is that?”
It’s for this exact reason this host, he listed and Airbnb gives you a little boost probably, isn’t always, doing with price it was cheaper than most and so he gets a lot of action right away.
But when I arrived he’s doing the bare minimum:
- There’s no wifi
- The TV doesn’t work
- There’s a bunch of stuff in the listing. Half of living was taken up with his stuff.
- There’s a ton of amenities in the kitchen that are missing.
- The bathroom rug, is really low quality.
I’m going on about this because this is a host who doesn’t have the right mindset, who’s not going to be a successful host in the long term. So he’s only concerned about the seven days, like the other host: “Right now I’m doing good” -he’s thinking- “Right now I have bookings, I have a lot of interest right now”
He’s not thinking: “What can I do to improve my listing, to give me more bookings in the future?” He’s only concerned with the here and now. Here and now I’m doing good I’m not interested in how you can help me.
There’s so many small improvements that he could make and big ones as for example wifi that have been neglected that his listings slowly going to go down, he’s slowly doing worse and worse.
Every time that I get questions from hosts, you know “I got this reservation and it’s super low. Should I cancel it and get a higher one?” this is also an example of the host with that wrong mindset. The answer is a resounding no because of the penalties Airbnb puts on you, and for Airbnb if you cancel to a guess it’s extremely negative.
Because if that’s the first time guess they’re unlikely to come back to Airbnb in the future, they’re unlikely to refer Airbnb. So by canceling one time potentially you missed out your your forfeiting your Airbnb’s revenue quite a bit.
So this is a good example of short term and long term mindsets, it looks like you’re supposed to get more money in the short term for this reservation but for the long term mindset you should not cancel it. Let them know they are getting a great deal and maybe ask them to leave extra positive review or something but definitely not canceling. Think about your reviews and your long term stability for hosting success.
Another example when I was in Panama. The stove vent didn’t work, the vent above the stovetop didn’t work. And so while in isolation this isn’t a big deal. What it actually cause, what I find out because I cooked, is this when I cooked it heated up the house a lot.
And it was very warm so I have the AC on, so because when I cooked in a heated up the house a lot I would open the doors and so forth so let the heat out and so what that did is I would have to put the AC on pretty significantly afterwards.
So this one small change for the host that think in the here and now, I don’t want to fix it it doesn’t seem like a big deal it maybe it’s expensive they’re not thinking about the long term or the long term consequences. Well you’re going to be spending more on AC alone because of the fact that heat in the house was so much and it’s already hot country and you’re using the AC.
There’s other small ones in the same listing there was a cold shower and while they didn’t advertise hot shower it’s just one of many things of guest satisfaction that’s going to affect your reviews you might get a five star review still but over the long term all these things. Slow WiFi is another one, you can look for the slowest wifi or the fastest one in the middle.
So any one of these things in isolation not a big deal but when you start doing a lot of them it’s gonna slowly affects your Airbnb success and you’re gonna go down down down down down.
So in other words, thinking about the here and now:
“How much is my WiFi cost? Do I want to cost a lot per month or a little? That’s the right now.
The long term is: What are the long term effects of of buying this cheap internet? What are the long term effects of this expensive internet? What are those effects gonna have on me in the future?
Okay, I hope I’ve given you some sort of context about what I’m talking about the right mindset. It’s really comes down to: Are you thinking in the short term? are you thinking in the long term?
If you’re thinking in the short term start to think in the long term. What are the decisions you are making today? What effects are they going to have in the future? and use these examples, not specific but trying to apply the broadly.
If you have any comments or questions about this because it is important.
The product that I’m releasing at the end of this month is going to focus on the right mindset. If you’re just a host and another way to think of it is employee versus manager or employee versus boss or employee versus business owner.
Are you just doing your tasks now as they’re given to you, as things come in? you’re putting out fires?
Or you have the more strategic mindset looking down the road and thinking how can you prevent the fires how can you improve etc,etc,etc.
This mindset is really big finding as I’ve been doing this two and a half years and that’s what my product is gonna focus on.
Having the proper mindset is really really important and it’s down play. I haven’t seen anywhere online.
A lot of people just say, including me in the past: “Make this change, make this change, be a better host, get electronic locks you better host”… but they’re not changing the mindset of the host to have future success.
That concludes this week’s Airbnb quick tip, I think it’s gonna be a bit longer than usual but I hope you got value out of its.
I hope to leave a comment. I’m curious about your feedback what do you think, Is what I’m saying making sense? I’m not totally sure it is.
I’ll see you next week for another Airbnb’s quick tip.