In this, a tumultuous time for vacation rentals -- as listing sites change algorithms, rules, and fee structures, and new local competition enters the market on a daily basis -- the Theory of Limited Edition argues that for professional vacation rental owners and managers, emphasizing strengths that do not scale is not just a effective marketing strategy...it might just be the only way forward. Since uniqueness means something slightly different to everybody, we broke it down into 8 specific factors:
Based on the dynamics of collectors items, the 8 factors of LTD states that commoditization of vacation rentals is a quick race to the bottom: and that entering that race is not wrong (in fact, it's an important part of our industry), but it's not financially sustainable for an independent business owner. For most, the game of commodities is un-winable.
Accordingly, the best (only?) way to opt out of that free-fall is to go the opposite route: do only the things that make a business one-of-a-kind; the very nuances that prohibit commodities from entering one's turf. Boutique hotels have demonstrated this in moderation up against big box hotels: the hand-made chocolate on the pillow, the handwritten note upon departure, the concierge remembering your name...etc. But vacation rentals (thanks to their small-sized nature) are in a position to capitalize even further...
The Theory matters today, more than ever before, because the more Limited Edition one's vacation rental business is, the less they have to play by the commodities rules, and the less market shifts and industry changes will affect them. LTD businesses define success on their own terms, and march to the beat of their own drum.
Because the Theory of LTD is so groundbreaking and so new, we have chosen only to share it during live, limited-seating workshops so that students can fully engage with the theme. These workshops are by reservation only, and they do have a fee. To register for the next live Limited Edition workshop, please use the sign-up form below:
This workshop is typical Matt; powerful, thought-provoking and valuable information delivered with passion. It's the Aha! moment I needed. Worth its weight in gold. Fantastic job my friend!
Matt I really believe this is the best presentation/piece of work you have done - and that is saying something when you look at everything that has come before it! This workshop should be compulsory viewing for anyone in our industry who aspires to be truly unique.
The Limited Edition (Ltd) Theory is ground breaking stuff; but IMHO it is dwarfed by the first few minutes of Matt's workshop. We should all put that on our desktops; then if we ever dare to think we are having a tough day we should watch it.
Excellent! So energizing! I am already thinking of things I can do based on your 6 Factors! THANK YOU!