How to Set SMART Goals for your Airbnb in 2015

I want to thank you for taking your time to spend this past year with me. I wish you an amazing New Year to come! Now is the time to reflect on what we want for 2015.

What are some of the goals you are working on?

Losing some extra pounds, traveling, meditating, spending more time with the family? How about hosting? What are your Airbnb goals for the New Year? 

You might want to:

  • Increase your bookings for your current listing/s?
  • Acquire more apartments/properties to Airbnb?
  • Create a side business that helps Airbnbers?
  • Become a Superhost?

Or

  • Pay the bills, and call it a day?

I invite you to sit down for a minute and think about this question:

Twelve months from now, where do you want to be in reference to your Airbnb?

Now, there is thinking and there is doing. My recommendation is to create a SMART goal. Here is some helpful information that I found for achieving one’s goals from the linked University of Virginia paper:

Specific: Goals should be simplistically written and clearly define what you are going to do. 

Measurable: Goals should be measurable so that you have tangible evidence that you have accomplished the goal. 

Achievable: Goals should be achievable; they should stretch you slightly so you feel challenged, but defined well enough so that you can achieve them. You must possess the appropriate knowledge, skills, and abilities needed to achieve the goal. 

Realistic/Results Focused: Goals should be measured by outcomes, not activities. 

Time Bound/Trackable: Goals should be linked to a timeframe that creates a practical sense of urgency.

Here is my Airbnb goal for the new year:

My goal is to increase my gross hosting income by 5% by December 31, 2015.

Why this goal?  I’m preparing my finances for future major home renovations. In 2016, I’ll be replacing my windows and in 2017, the siding of the house.  What’s that 5% number? I will tell you in the future. Is this a SMART goal?

Specific: Increase gross hosting income by 5%.

Measurable: I know what 5% will be of my gross hosting income by comparing it to the previous year.

Achievable: I’m not adding additional properties or listings. I increased my rates for the new year. But I’m also expanding my hosting services by offering space for gatherings, parties, etc. I have hosted parties in my backyard while having other guests in the space. They don’t interrupt each other and the gatherings end at a reasonable time.

Realistic: My gross income grew 20% in 2014 from 2013. Stating a 5% increase is a bit low but realistic. I’m closing one of my listings for 4 weeks due to a big renovation, bathroom, which is why my goal is only a 5% increase.

Time-bound: I’ll do quarterly analysis to keep track of my goal. Yes, I'll keep you informed.

What about you? What are your goals? Comment and share your goals for 2015. Let me help you with your Airbnb goal by signing up for my newsletter, sign up to a webinar or a one-on-one consultation. 

Until next time, Happy Hosting.


Who created SMART goals.. who knows?

Per Wikipedia: SMART criteria are commonly attributed to Peter Drucker's management by objectives concept.[1] The first-known use of the term occurs in the November 1981 issue of Management Review by George T. Doran.[2] The principal advantage of SMART objectives is that they are easier to understand, to do, and then be reassured that they have been done.

Per Ask.com: George T. Doran presented SMART goals in the November 1981 issue of Management Review. The paper, titled "There's a S.M.A.R.T. Way to Write Management's Goals and Objectives," discussed the difficulty and importance of setting objectives.

Posted on January 9, 2015 .