Running a travel practice and achieving year over year growth is no small task. In fact, the very nature of travel consulting makes our business one of the most challenging. Nearly daily, I speak with travel agents on two extremes of the growth curve. On one side is the agent whose business is flourishing and providing the agent with a full time, robust income. At the other extreme is the travel agent who is falling behind and not seeing the growth they want to achieve in their business. The difference between the two extremes is a matter of a few business practices that can be developed by anyone serious about taking their travel practice to the next level. This week we will look at the five most common reasons your travel practice is not growing at the rate you want to achieve and what you can do to correct the situation.
Reason #1 – A failure to plan
Sounds too easy doesn’t it? Everyone has “plans” don’t they? Not really. If your plans lack one of these characteristics, they are not adequate to growing and maintaining a thriving business:
- Put your plans in writing – still carrying your marketing plan around in your head? When you put your plans in writing, they become more powerful. When you write something down, you articulate it and make it more real. You better understand your plans when they are in writing. Importantly, you also have a set of definitive benchmarks against which you can measure your progress.
- Establish goals for yourself – Remember “SMART“: goals need to be Specific, Measurable, Achievable, Rewarding and Time-based.
- Monitor Results and Adjust – Take your goals and plans seriously and hold yourself accountable. Be your own coach. Make adjustments where necessary and learn from mistakes.
Take this short marketing audit TRO created while back and see where you stand in your own plans. Share the audit with your co-workers and peers. Discuss what you are doing well and what you need to do to come up to a higher standard of professionalism. Need some help to develop your marketing plan? Read through these articles for any assistance you might need in developing a business plan for the balance of 2014 and beyond. Tomorrow: A failure to differentiate