Eight Tips to Review Your Business

Businessman drawing a business plan
Photo by ronstik/iStock/Getty Images Plus/Getty Images
Ruthanne Terrero

Did you set goals in January to upgrade your business? It’s time to check in on how your strategies are faring and to consider adding in a few more “to-dos.”

  1. Assess aspiring talent: Do you have a new advisor who showed great enthusiasm and promise when you hired them? Have they lost their zeal and settled in to the day-to-day humdrum of office life? Schedule a brainstorming lesson with them to review their benchmarks and be ready to inspire them with input on what attracted you to hire them in the first place.
     
  2. Reconnect with new suppliers: Did you meet new vendors at a trade show months ago that you were really excited about? Did these companies fill niches you were lacking in your product portfolio? Contact them today to reignite the great conversations you had on the trade show floor.
     
  3. Test the waters with existing suppliers: When was the last time you heard from the BDM at that cruise or tour company you give a lot of business to? If they’re taking you for granted you may be missing out on special incentives or perks they’re giving out to other advisors who are clamoring for their attention. Give them a nudge to see if they still consider you one of their A-players. If you get no response, shop around for companies that value your business.
     
  4. Put your connections to work: Have you been too busy to participate in any of your consortium’s events or online learning programs? There’s a good chance you’re letting the fees you’re paying go down the drain. Even worse? The other advisors in your network who are using all these tools and benefits are gaining a competitive advantage over you by increasing their market intelligence. If you find yourself reluctant to attend network events, ask yourself if it’s time to switch to a consortium that better fits your self image. 
     
  5. Travel for your knowledge base: Did you have every intention of taking a few educational trips this summer, but forgot to plan anything specific? Guess what? You’re going to be seeing back-to-school ads on TV in a few weeks and that means your window is going to close.
     
  6. Seek out new empty nesters: School is out and chances are you may have clients who have just graduated their youngest from college, which means no more tuition bills for them. What are they going to do with those tens of thousands of dollars they’ll now have in their wallet come fall?
     
  7. Reset your branding: It’s time to take a look at how you present yourself to the world. Did you think of a cute name for your agency 15 years ago that literally makes no sense as it relates to travel? Is your logo outdated? There are so many new opportunities to find artists online to help you with your look, including Etsy and Creative Market. Start seeking out freelancers who can help portray you better in the marketplace.
     
  8. Update your online image: Remember that blog your agency started on its website that was meant to share trip reports with your clients? If the last entry is dated 2016, take it down or set a calendar for your advisors to update it regularly. Appoint someone in your office to police the process. Are your agency’s Twitter, Instagram and Facebook accounts also woefully behind the times? If so, delete them or update them. By neglecting them, you are running the risk of looking like a company that’s gone out of business.

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