What's Your Sign?

According to a recent study by Infusionsoft, there are four types of small business-owners: Freedom Seekers, Struggling Survivors, Legacy Builders and Passionate Creators. We don’t have the space here to discuss all four, but my bet is that most travel professionals are Passionate Creators. Congratulations!

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Passionate Creators say they absolutely love and care deeply about what they do, and nearly three-quarters of them “definitely” consider themselves to be entrepreneurs. Sound familiar?

While passion is a key ingredient in your home-based business future, it’s not a panacea. Your future success is a function of your ability to consistently and successfully leverage a disparate array of skills, including marketing, selling, administration, technology, psychology, geography and more. But oftentimes some of these skills or requirements are not done well or just not done at all.

If you’re like the vast majority of us, there are certain responsibilities that you “like” to do and there are some that you really don’t care for. Those are the “have-to-dos” and being as effective at executing many of those “have-to-dos” will likely be as important as the “like-tos” in determining your future success.

So, if marketing isn’t your “thing,” then leverage your host agency or consortium marketing plan. If you’re just plain uncomfortable asking for the sale, take some courses and improve your selling skills. If your website was designed by your precocious 13-year-old nephew who is now in his fifth year of medical school, find someone to bring your site up to date.

If bookkeeping and accounting have value only during bouts with insomnia, have your CPA or a freelance bookkeeper take charge. The point is, whether you do these things yourself or you have someone else do them for you, they have to be done, done well and done regularly. And when you do so, you’ll be in a great spot! Think about it. Being a home-based travel professional has loads of advantages and a few potential pitfalls, such as the following:

Low Overhead. You can be in business without an office lease and the concomitant overhead, which typically take an enormous bite out of that bottom line. In a business with relatively thin margins, all expense management is critical and has an exponential impact on your profits.

Flexibility. You don’t really need to have any employees, and frequently certain support needs can be done remotely and by the hour. You also can serve your target customers when they need it most. In some cases, you can work when it’s convenient for you.

Improved Reputation. While there are certainly exceptions, clients no longer cling to the notion that being a true professional requires having that glitzy office at the prestigious Oak and Main location. Being home-based no longer makes you a hobbyist. Your professionalism is a function of you, your capabilities and your demeanor.

More Comfortable. As a guy who went to an office in suits, ties and French cuffed shirts for way more years that I’ll admit to, I will be the first to acknowledge that today’s typical sartorial combination of tee shirts and jeans is way more fun! Sure, we all have to occasionally don the big boy/big girl outfits, but being home-based is productive and comfortable!

Risk of Getting Lost. No, I’m not concerned that you’re wandering aimlessly. I’m suggesting that in spite of all that being home-based has to offer, you must make it a point to remain visible in your face-to-face and online communities. Working from home still requires you to be in touch with clients, involved with local clubs, speaking at events big and small, and so on. It’s way too easy to remain “behind the scenes.”

Discipline Is Critical. One of the beauties of being home-based can also be one of its drawbacks. You have to be the self-starter and the one who focuses on the important (if less fun) responsibilities — and does so on time. For example, Hal Becker was, at one time, Xerox’s number-one sales person. Big deal! Xerox had thousands and thousands of sales people. At the risk of oversimplifying for brevity, he achieved this by having the discipline to make all his prospecting and follow-up calls when many of his colleagues were calling it a day.

The future of the home-based travel business is bright, but you need to be sure that in addition to the passion for what you do, you are focusing regularly on that broad array of disciplines that, when properly blended, will all but ensure your success!