Your Financial Year Is Almost Over

It’s been just a couple of months since the holidays and those fun memories are probably still pretty fresh. Heck, the holidays may seem so recent that you’re even continuing to faithfully execute your New Year’s resolutions. But it’s important to recognize that the year is quickly winding down. No, I’m not talking about the calendar year but your selling year. Believe it or not, you only have a relatively short window left to truly maximize your sales and income for 2012.

What’s the rush? Most of you will find the next 30 days pivotal in the outcome of your financial year. You have to move now to impact your sales and surpass your financial year's goals. Here are several things you can do right now to positively impact your 2012 income.

How are you doing? For most, accounting shares the same excitement factor with watching paint dry, but it’s critical to forecast your year-end sales and determine if they will exceed your goal. All things being equal, you can roughly estimate that by dividing 2011 booked sales (traveled or not) as of this time last year by your 2011 year-end total sales. That result yields a percentage.

Now take your 2012 sales to date and divide that number by the same percentage. For example, if I sold $300,000 by Feb. 28 of last year and finished the year with $600,000 in sales, then 50 percent of my sales were booked by this time last year. If at this point in 2012 I have $400,000 booked, dividing it by 50 percent or 0.50 will give me a year-end forecast of $800,000.

Obviously, not all things are equal and this relatively crude methodology doesn’t take into account a change in the booking trends, fluctuations in average sale, economic improvements, increases or decreases in your marketing and sales effectiveness, and so on. The point is that you need to know at least roughly where you’ll finish the year to determine your actions over the next few months.

Take immediate action: What you can do now to impact sales in the next 30 days. Select certain products to focus on. Work with your franchise head office, agency group, targeted supplier sales representatives, etc., to promote them in the next 30 days. Can you market and communicate better? Can you generate more leads? Can you improve on closing sales? Are you focused on selling the more lucrative products -- the more complex, longer, premium and luxury products where the consumer really needs your expertise and tends to book further out?

Who among your clients is likely to buy those products or destinations? Use your database/CRM capabilities to find these “needles in the haystack” because pursuing prospects in the short term is more surgical in nature than your “normal” ongoing marketing and communications.

Don’t just email your clients, call them: Being in touch on a regular basis is important in building the personal relationship that leads to long-term, consistent sales and loyalty. In this case, it’s also a valuable tool because there’s virtually no lead-time required and it can be done anytime you have a few minutes. It’s also highly effective.

Create urgency with your clients: Is there a special on a vacation that they’ve wanted to do for years? Will this year’s stronger booking trends make it more challenging to buy what they want if they don’t act soon? Are you holding an invitation-only reception next month on their favorite product or destination?

Ask for referrals from your clients: You should be doing this all the time, but in the short term these referrals may have even more value in driving sales.

Stick with your sales push: The vast majority of travel professionals give up way too soon. Hitting your sales goals is to a large degree a numbers game. The more people you pursue, the more you’ll sell, even though the majority of your contacts will not generate immediate sales.

Monitor results and modify future actions: What techniques worked best? Don’t overlook the less effective ones. They may provide a superior learning experience. Take stock of your successes weekly or at least monthly. Will you achieve your three-month goal? If so, congratulations! If not, what will you do differently?

Your financial year is winding down but that doesn’t mean you can’t achieve your desired growth. Know how you’re doing, what you need to improve, take action using the most effective short-term steps and hold yourself accountable for achieving short-term results. Your efforts now will generate successful year-end profits.

Get Rid of Your Business Card

Over the years I have a collected many thousands of travel agent business cards. Would you believe that few are truly remarkable? Too many are overstuffed, ineffective, cheap of flimsy turn-offs. Your business card should be an enormously powerful selling tool. So fire your card and recreate it using my top tips.

Less is more: If you keep decreasing the font size in order to squeeze more on the card, your card is no longer remarkable. Remember: your card is a no different from a highway billboard. People don’t make an attempt to read a crowded, crammed billboard. You’ve got less than three seconds to make an impact. You need to get people excited and wanting to know more about you.

Phooey to fancy fonts: I can’t read fancy fonts. It becomes too much of a chore so I usually give up. Keep your card simple and easily legible.

Phooey to tiny type: I can’t read tiny type. My 19-year old daughter Danielle can read tiny type. I am 48 and if I need to squint, I am aggravated that you have made it difficult for me to read. Unless your primary customer is a teenager with perfect vision, don’t use small type. Half the travel agent business cards I receive contain tiny type. I can barely discern the email address—and I am blessed with great vision for my age!

Don’t be cheap: The business card is your second most powerful selling tool (you are number one). Now is not the time to pinch pennies. Cheap cards leave a cheap impression. Use a thicker stock paper, color and even raised print. I am not sold on glossy cards for two reasons: they tend to be slippery and not easily handled, and you can’t write on them. Oftentimes I like to write important notes on cards and it is frustrating when glossy cards prevent this.

List your specialties and certifications: I love receiving business cards that showcase achievements. This impresses me and it makes you stand out from the crowd.

Don’t use too many addresses: I recommend including a business address only if you are located retail. Include your website URL (if it’s not too long). Better yet, drive customers to your Facebook page instead. Your phone number and email address also are essential. Should you include LinkedIn and other social business networks? This depends on your particular business type. I am not impressed when I see a laundry list of addresses. Direct me to your most powerful, all-encompassing URL and I’ll jump to your niche websites from there.

Promote a big story: Then use a four-panel card like I do. I promote four of my businesses using the fold-over card style, which is actually two cards in one. Give that front panel a real punch, so people are intrigued to flip it open.

Use a mug shot: If you are a direct-seller to consumers, include your photo. Photos create familiarity and increase comfort level, particularly if you focus on getting referrals.

Use a slogan over a logo: I vote slogan over logo. If you have a professionally designed logo that is visually arresting and helps tell your story, then super-size it. If your logo is a generic cruise ship, hotel or airplane, I suggest you keep it small. Instead, super-size your slogan or mission statement. Just like that highway billboard, you need one potent phrase gives your business some punch. Of course, if you are affiliated with a major national travel brand with a nationally recognized logo, then use the logo!

Be careful what you promise: If you include words like “discount,” “best prices,” “unbeatable,” you are inviting customers who are non-loyal and looking for the lowest price. I believe that is a poor marketing choice. Even consumers who would not typically beat you up over price will now expect the discount.

Never give just one: Why on earth would you give out just one card? That’s like saying, “Please keep this one card for yourself and don’t tell anybody. I prefer that my travel business be kept under the radar. If any of your friends or family need a vacation, let them find me on their own. The last thing I need is a new client, especially a friend of yours.” You appear cheap when you hand out one card, yet you appear generous when you give six. How effective are the 100 business cards you have packed away in a drawer right now?

Give out dozen a day: Set a goal to hand out 12 business cards every ordinary day. At networking events, distribute at least 100. The first travel agent to give out all their cards wins!

Would you like to know what can make the difference between success and failure?

We have to be the #1 fans and believers in our business!

If we are not our own biggest fans and believers in what we do it shows. If you don’t believe in what you do how can you expect others to? You need to be passionate about your business. Get excited when you tell people what you do and most importantly give them a solid reason to buy from you.


This might sound very simple, but the truth is when you ask people what they do, they tell you with very little spark, energy or enthusiasm.

So if you are looking for that special “thing” that can be the difference between success and failure, it really is as simple as backing yourself.

Be prepared to offer money back guarantees, use your own products wherever you can and get excited when you tell people what it is you do and why you do it so well. Remember, success happens in the heart and the head, passion and attitude. Embrace both and your life will be truly spectacular!

If you would like any further advice check out my Facebook Page or my upcoming workshops.
Alternatively if you would like any information about Business Coaching click here.

Until next time,

Adrian

Dealing With Overwhelm

The most common form of stress that managers experience is the feeling of being overwhelmed with far too much to do and having too little time to do it in. In fact, “time poverty” is the biggest single problem facing most managers in Australia today. We simply do not have enough time to fulfil all our responsibilities.


 
Because of budget limitations, staff cutbacks, downsizing, and competitive pressures, individual managers are forced to take on more and more work, all of which appears to be indispensable to the smooth functioning of our company or department.

Become an Expert
The solution to this problem of work overload is for you to become an expert on time management. There is probably no other skill that you can learn that will give you a “bigger bang for the buck” than to become extremely knowledgeable and experienced in using time management practices.

Be Open to New Ideas
The most foolish manager of all is either the manager who feels that he has no time to learn about time management or, even worse, the manager who, while being overwhelmed with work, feels that he already knows all that he needs to know about the subject.

Never Stop Learning
The fact is that you can study time management and take time management courses for your entire business life and you will still never learn everything you need to know to get the most out of yourself while doing your job in the most efficient way.

The Keys to Time Management
The two indispensable keys to time management are:
1) the ability to set priorities; and
2) the ability to concentrate single-mindedly on one thing at a time.

Since there is never enough time to do everything that needs to be done, you must be continually setting priorities on your activities. Perhaps the very best question that you can memorize and repeat, over and over, is, “what is the most valuable use of my time right now?”

The Best Question of All
This question, “what is the most valuable use of my time right now?” will do more to keep you on track, hour by hour, than any other single question in the list of time management strategies.

Start With Your Top Tasks
The natural tendency for all of us is to major in minors and to give in to the temptation to clear up small things first. After all, small things are easier and they are often more fun than the big, important things that represent the most valuable use of your time.

However, the self-discipline of organizing your work and focusing on your highest value tasks is the starting point of getting your time under control and lowering your stress levels.

Weekly Action Task
Here are two things you can do immediately to get your time under control.

First, make a decision today to become an expert on time management. Read the books, listen to the audio programs, and take a time management course. Then, practice, practice, practice every day until you master time management skills.

Second, set clear priorities on your work each day, before you begin. Then, discipline yourself to start on your most important task and stay at that until it is complete. This will relieve much of your stress immediately.

If you would like any further advice check out my Facebook Page or my upcoming workshops.
Alternatively if you would like any information about Business Coaching click here.

Until next time,

Adrian

7 Reasons Why You Need A Business Coach

Everyone has heard of the term “Business Coach”. Do a search at Google, msn or yahoo on the internet and you will get over a million search results. They all say they can help you and your business. But what can they do for you?

And most importantly why do you need a business coach? Well as the travel industry most experienced Business Coach let me show you.

Listed below are 7 reasons why you may need a business coach.

1. Not making enough profits
2. Give you some direction to marketing and selling your products
3. To keep you accountable
4. To fast track your success as a business owner
5. A shoulder to bounce things off
6. Hold your hand in the step-by-step process of growing your business
7. Finding the right people for your organisation

1. Not Making Enough Profit
Have you been in business for a few years and your business is now stagnant? Are you making a profit, but going nowhere? A business coach will teach you how to turn your business around and how to take your business to the next level.

What a business coach will teach you will apply not just to one business, but to all your businesses. You can apply the principles you learn to any business you own.

2. Give You Some Direction To Marketing And Selling Your Products
You have the ideal product, but as a result of advertising and marketing nothing is happening. So do you give up? No. Hire a business coach as he is an expert and will be able to help you.

A business coach will show you how to market your product and how to find the right target market. With the right audience you can market your products and/or services correctly. Once you understand the marketing procedures, you can apply them in the future to anything you wish to sell.

3. To Keep You Accountable
A business coach will keep you accountable for your business and what you should be doing to grow you business. He will be there to guide you each step of the way, while you put what you learn into practice. He will not do it for you. You will be. What you learn can be applied to any marketing campaign, now and in the future.

4. To Fastrack Your Success As A Business Owner
Just like a talented athlete you would use a business coach to give you structure and direction to guide you through the learning process of running a business.

A business coach will put you on track and show you what to do at the right times. He is your coach, mentor, consultant and advisor. He will make you and your business, the best. A world class champion business.

5. A Shoulder To Bounce Things Off
It can be lonely running your own business. You need someone that can answer your questions on all parts of your business and can help you bounce ideas and give you instructions and can look outside the square and give you a different perspective.

A business coach is like a silent partner. A partner who has a financial interest in the business, but you get to keep the rewards.

6. Hold Your Hand In The Step-By-Step Process Of Growing Your Business
Sometimes in business, you get to the point where you are a bit unsure of what to do next. You feel like you want to hit your head against a brick wall.

A business coach will give you the guidance and steps, on what is coming up and how you need to prepare things and what you need to do when you are doing it so that it can be more comfortable for you. A business coach is like a guardian angel. He is there for you every step of the way guiding you with a helping hand.

7. Finding The Right People For Your Organisation
A business coach will help you find the right people for you and your business. He will let you know the secrets of the correct way to recruit and how to attract the right people. You can use a recruitment agency, but they will hire the person they think would be suitable. And generally, they are not ideal.

A business coach will help you find the ideal person.

If you would like any further advice check out my Facebook Page or my upcoming workshops.
Alternatively if you would like any information about Business Coaching click here.

Until next time,

Adrian 

How to Conduct a Salary Review

When you want to retain your best staff in a competitive job market, giving them a salary increase is likely to be the first thing that comes to mind. But before you decide on giving them that raise, first consider whether they really deserve it. Here are some questions you should ask yourself:

• Can they document their long-term goal accomplishments?
• Is the proposed raise on par with market salary levels for your industry and their job descriptions?
• How valuable are they to your business?

 High performers should be rewarded, but why give a pay increase to poor performers? If you do find that some staff members' performances don't merit a raise, you need to deliver the news in the best possible way to avoid conflict.

What this means is that you should:

1. Ensure the staff member understands that you appreciate their effort, and that you will reward them for excellent work.
2. Establish a three-to-six month plan that ties a raise to meeting specific goals
3. Set a time to review their performance again.

You might consider using increasingly popular bonus systems to reward performance rather than increasing staff members' base salaries each year.

Salary reviews need to be handled professionally and with sensitivity, otherwise they can lead to disputes, dissatisfaction and low morale among your staff. A successful evaluation is an effective tool for producing positive benefits for both your organization and for your staff; a poorly conducted evaluation process can cause havoc. A key aspect of an effective salary review are performance reviews, which should be conducted regularly throughout the year for all staff members, and not just done at the time of the annual salary review. Performance reviews may occur on a weekly, monthly or quarterly basis, depending on the size and nature of your business and the complexity of the staff member's job.

Documenting Performance Reviews
Performance reviews should be well documented and understood by yourself and all your staff. Their purpose is to maintain ongoing communication and feedback, and to ensure that each party's expectations are being met. They can be informal or formal one-on-one meetings to assess whether actual performance meets pre-determined and agreed performance levels. Any performance issues should be dealt with quickly and effectively, as they can have a negative impact on your staff's morale and productivity, your customer relationships and your business' bottom line. So, don't leave it until the annual salary review period when the damage may have already been done.

For performance evaluations, as a minimum you should have a written policy and procedures manual that outlines:

• who will conduct the review
• what performance criteria will be evaluated
• when the performance review will take place
• how it is to be conducted, and the purpose of the performance review.

Give a formal review document to each staff member to fill out before the review process begins.

The document asks your staff members to:

• Rate their performance against a set of criteria that has been discussed and agreed to between yourself and your staff members at the beginning of the review period
• Highlight their achievements, which are to be supported by outcomes and performance indicators such as sales figures, cost savings and the overall contribution to the business' development
• Signal areas where they need to improve
• Indicate factors that have prevented or hindered their performance
• State what they enjoy about their job
• Inform you about the specific areas in which they wish to acquire and develop skills.

Allow sufficient time for your staff members to complete the self-assessment documents, and for you to read their evaluations and comments, before you set up a time for a meeting. Review what pay increases you want to give to your staff members. Make sure you can conduct the review in private without any interruptions. Reviews need to be undertaken in an environment of trust, honesty, integrity and respect. You'll need to be fully aware of the company's policy in relation to minimum acceptable workplace behaviour such as equal opportunity, privacy requirements, discrimination, harassment, workplace health and safety, security, intellectual property, and confidentiality.

You should have on hand the staff member's employment contract or letter documenting:

• their annual, monthly or weekly pay rate
• other benefits and allowances, bonuses and commissions termination and redundancy clauses, and
• superannuation entitlements.

In addition, you should have a copy of the staff member's job description, which includes their responsibilities, duties and competencies, the key criteria or indicators upon which their performance will be evaluated, and the chain of command for reporting purposes. The document should also set out staff management responsibilities.

During the review meeting, follow the agenda that both you have both have agreed upon.
Make sure that you:

• Give your staff member your full attention and show interest in them
• Concentrate on what they are saying and listen for underlying emotions and feelings
• Check your understanding of what they are saying through questioning and identify the main issues. Avoid making assumptions
• Ensure your views and comments are supported by facts, figures and specific examples of performance. Don't generalise.

The key to a successful staff review is for all parties involved to be effective listeners and be willing to accept and use feedback and comments constructively. Feedback is most useful when it is timely, specific and factual, and delivered in a courteous and positive manner.

If you would like any further advice check out my Facebook Page or my upcoming workshops. Alternatively if you would like any information about Business Coaching click here.

Until next time,

Adrian 

Avoid Networking Nightmares

Below are my top 5 networking tips for you to consider when you’re next out at an event/conference.

1. Enlist the aid of others to introduce you

If you’re going to a networking event where you know one or two people there, ask if they would mind introducing you to some people at the event.

2. Offer a compliment (but be sincere)
If you struggle with an opening line when meeting new people, a tried and tested method is to offer a compliment. You may choose to go up to someone and compliment them about something they are wearing or something they have done (if you know a bit about them). The biggest key to making this work is to make sure your compliment is sincere. If it’s not, people will not dismiss you and deservedly so.

3. Focus on the person in front of you
It’s important to give 100% of your attention to whoever is in front of you, even if they may not be a potential contact or business lead. Rather than acting bored, excuse yourself and move on.

4. Make sure you are enthusiastic in your responses when asked about your business.
When you meet a person at a networking event, the one question they are bound to ask is “what do you do?” How you answer this is very important – it’s not just the words, but your body language and the emotion in your voice (non verbal communication accounts for up to 90% of meaning we take from any encounter). So, it is important to have a positive, energetic and memorable response to the question “so what do you do?”

5. Always follow up
Many people are great at networking but lousy at following up. So why bother to network in the first place? Great networkers will follow up the next day. If you say you will do something, do it. This will impress people and show that you are not only professional but also keen.

If you would like any further advice check out my Facebook Page or my upcoming workshops. Alternatively if you would like any information about Business Coaching click here.

Until next time,

Adrian