Bad business habits are preventing you from getting more groups and making more money. As we cruise into the third week of my REBOOT GROUPS TOP 100 LIST, I want you to tell me which of these ten bad habits you need to break.
A top strategy for building a bigger, better group business is membership in my group boot camp (shameless plug), where I will highlight every outdated, inefficient business practice you must cease immediately. I will give you brand new tips, tools, and templates to build the lucrative group business of your dreams. But here are ten bad habits you may want to keep an eye on:
- You mix up SPEC and AFFINITY groups. SPEC groups (aka PROMOTIONAL groups) are deal driven. AFFINITY groups are people driven. Know the vastly different marketing methods or risk failing at both.
- You still have only one foot in the door. Quit dabbling. Get all-in or get out. This bad habit of not fully committing to group sales is impacting your business plan, confusing customers, and driving weak results.
- You remain focused on ‘SELLING’ groups to organizations and businesses. This bad habit smothers opportunities because people don’t want to be sold to. Break it by being a problem-solver (vs. a salesperson).
- You get blinded by the thrill of nailing a BIG GROUP and overlook critical issues. Big groups don’t equate to big profits unless you protect yourself at every level. Asking all the right questions enables you to put the tools and rules in place to avoid nightmares.
- You send group proposals via EMAIL. This may be the world’s worst habit. This bad habit will get your pricing beat up, reduces call-backs, and kills sales. Break this bad habit by delivering the presentation ‘live’ before sending it in writing.
- You fail to assess if the GROUP LEADER will really deliver. Group leaders can’t let you down because they don’t hold you up. It is your job to assess their influence and commitment. It is your job to manage their productivity.
- You rarely required groups to sign a GROUP AGREEMENT LETTER. Dismissing the importance of a signed agreement is a bad habit that produces risk, stress, and failure. (I give you a template in boot camp which makes it easy).
- You forget to maintain a mini-P&L. Some agents never even start a profit and loss spreadsheet. Not budgeting and forecasting is a costly bad habit that results in poor financial choices.
- You rely on commissions. I have told you for years that a supplier commission is a gratuity for the work you do for them. What about the work you do for clients? Earn appropriately by netting down, marking up, and creating awesome packages.
- You get trapped in DISCOUNT & DEAL WARS. The bad habit of selling stripped-down, barebones, off-the-shelf products will ruin a travel business. Part of mastering the group business means you become a champion at creating high-value packages. Boot camp shows you how to step out of the no-win game of discounting and building awesome client loyalty.
Let’s start a conversation about breaking bad habits that are preventing you from selling more, selling up and selling out. Email me or post on Facebook. The best way to stop a bad habit is to replace it!
Stuart Cohen is an international speaker, trainer, keynoter, health coach, solopreneur, business coach, travel fiend and the founder of resortforaday.com—the world’s largest seller of hotel day passes. His boundless passion is inspiring others to achieve higher levels of success and happiness. Audiences love his fun, refreshing and lively training workshops. Learn more about Stuart and his bootcamp at stuartlloydcohen.com.