I worked for a short time for the Inland Revenue where I discovered that a good fifty percent of new businesses go bust in the first year. It seemed to me having spoken to a good number of people either going bust or about to a great number of their problems were caused by general ignorance of the business that they were in or simply bad planning.
Your having picked up this book shows that you are that much ahead of the pack and I wish you all the best.
I have also found that there are many misconceptions of what the B&B and Guest House industry are like and what goes on. I have worked in big hotels where they have gone bust due to overspending yet the guest expects there to be porters on standby not thinking for one moment about the narrow margins that these places operate on.
Smaller places such as yours will in some ways benefit from you running it as that saves enormously on running costs. When you start taking on staff that is when the costs start to mount up.