Tourism accommodation business development has three stages, so does mastery.
Like a child, a tourism accommodation business “grows up” in three stages. In the case of children, it is infancy, adolescence, and maturity. But unlike children, the stages of tourism accommodation business development have little to do with age, and everything to do with the skills of the owner and the systems and processes built into the business.
The stages of tourism accommodation business development are –
STAGE 1 Foundation – “Getting your House in Order”
STAGE 2 Growth – “Growing your Business”
STAGE 3 Freedom – “Getting Free of your Business”
Stage one: Foundation – “Getting Your House in Order”.
“First things first” as the saying goes, and in the infancy of a business the main purpose is to establish a foundation of sound, effective business practices. When the foundation is in place, then the business can grow in a stable, manageable way. Without the foundation, growth is chaotic and succeeds only by chance.
Stage two: Growth – “Growing Your Business”.
In adolescence, a business gets bigger, better, more complex, and more sophisticated. It grows. In growth the rewards become greater, but so do the risks. The stresses and strains in a business are different in growth than they are in the foundational stage; but without the foundation, growth is troublesome. Viable, effective, successful growth depends on a solid foundation.
Stage three: Freedom – “Getting free of Your business”.
A mature business has fully developed systems and is systems dependent rather than people dependent. A mature business operates reliably, predictably, and productively no matter who inhabits the organization chart. In mature businesses, the owner is free to choose how involved or uninvolved they want to be in the affairs of the business. The business can operate smoothly with or without you. The maturity of the business in a very real way, creates freedom for the owner.
The decision to move on to the growth stage and the freedom stage is one that you make when the time is right.
To follow the seven part journey on how to create a successful Accommodation Business read part 1, 2 & 3 below: