3 Surefire Ways to Improve your Tour Operator Business
After starting your tour operator business, there are easy ways you can take it to the next level. Deciding to take the next step and embarking on what at first seemed like an overwhelming but exciting journey to make your dream come true, is an incredible achievement. But, how can you transform this into a successful venture?
Since you decided to set up your website and get your business going, you have probably tasted a little success and you have seen some booking growth year after year.
It's probable that you have received many positive reviews from happy travelers, got the travel booking software in place and a couple of decent tour guides you've partnered with.
Depending on the level of popularity of your business, you've most-likely employed a few tour guides other than you by now. Perhaps, you may have some support from the administration they provide.
But maybe, your team is composed of two or three people, or just you! You work and do everything around the clock. And… it all comes down to this: If you're not there, your business doesn't work.
You don't make the kind of money you hoped you would be making when you first started, You are not sure how your business can reach a point where your revenue goals are met to help you lead the kind of life you've been dreaming about.
With the structure that your business has now, your potential has reached its limit and you find it difficult or you don't think you can afford to build your team. Many of the tasks in your business entirely depend on you.
At this point, you've probably realized that it is not sustainable and something needs to be changed in order for you to expand your business and make it successful.
Luckily, we've put together three surefire practices that you must prioritize if you're looking to succeed in this competitive niche:
- Set clear goals for both your business and your personal life.
- Create Stretch +SMART business goals
- Keep revisiting and refreshing your business' objectives
Now, let’s give each one of these practices a closer look to really understand the significant impact they can have on your travel operator business:
Set clear goals for both your business and your personal life.
Here are a few questions you can ask yourself in order to get a clear picture of the exact reason you chose this path in the first place:
- What motivated you to get started?
- Did you choose this business for the freedom of which you dream of?
- Are you looking to have a flexible schedule to get a much-needed family time?
- Did it all come from your love for travel and the dream of getting paid for working on something you’re passionate about?
- Do you want to be your own boss?
Quick example: Clean Travel was born after its founder realized the huge social impact the travel industry holds. Their mission is showing people that tourism can serve as the greatest form of wealth distribution the world has ever witnessed.
It's an incredibly powerful exercise to see why exactly you have chosen this path. The first step relays on the 'Why?'. Because then you can ensure that your 'Why?' is at the forefront of every decision you make in your company.
Create Stretch +SMART business goals
Stretch goals can be defined as objectives that go beyond the original goals that your business has set. These type of objectives can't be achieved by small tweaks, instead, they require extending, and challenging oneself to go beyond the current performance level.
A S.M.A.R.T criteria brings structure and trackability to goals by creating a specific, measurable, attainable, relevant and timely trajectory towards your business' objectives.
Create goals that your business should accomplish a year or 3 years from now, they could be related to revenue, profit, staff, tour guides to partner with, the role you'd like to have in your business, etc.
Keep revisiting and refreshing your business' objectives
A crucial part of these stages is to plan a budget and set sales targets to involve your whole team. This way, each member will have a sense of ownership (Feeling like they are part of something), get certain incentives in place, and will motivate to push your team and yourself a bit harder.
Revisit your goals every month and celebrate the victories, remember that this process can be fun! Also, take a close look at the losses and work together to find solutions to get your travel operator business back on track. Ready, set, go!