The Importance of BIG Picture Thinking in Business

New travel advisors are often excited about getting started in the travel industry. Many of them ask me for advice in achieving success. My response is to look at the big picture when building a new business. This advice is not only applicable to beginning travel advisors; it’s also helpful guidance for all travel agents to follow.

So, what do I mean by keeping the BIG picture in mind? Below are some thoughts to consider.

1.      Establishing Your Brand and Business Identity

Don’t make the mistake of giving your business a name that will narrow your future client base. For example, avoid including a descriptor in your business name that reflects monetary value. A name like “Jennifer’s Value Vacations” can inhibit your chances of moving into the luxury travel market.

Another limiting descriptor would be the destinations in which you specialize. Something like “Jennifer’s Magical Mickey Vacations” would not bode well if you want to branch out into other types of vacations and destinations. Clients may wonder why you’re trying to book river cruises when your business name is so specific as to the type of trips you focus on.

The best advice is to keep your title as generic and simple as possible. This will allow you to move into other types of vacations and destinations. Big picture thinking means considering your future goals and growth, not just what you’re focusing on now.

Once you come up with a name that works for you, don’t forget to check whether it is unique and not currently in use by another company. It’s very costly to find out later on that you have to redo everything because you chose a name that was already in use. 

To ensure that your name is unique, you can start off by doing a quick Google search of the name to see if there are any other businesses using it. You should also reach out to your local state licensing agency to see if the name you want is already registered with another business. Another thing to check is if the domain name you would need for a website is available at any website registrar like Godaddy.com.

2.      Overreactive Mindset

Try to be open-minded and avoid rash decisions, especially when you are in a negative situation. If a supplier has upset you, don’t automatically decide that you will never work with them again. It’s not realistic to remove them from your resources. They could turn out to be the best supplier in certain situations.

Recently, an advisor asked our agency to put a supplier on the do-not-sell list because she was angry about something they did. We never place a supplier on the do-not-sell list because of an advisor’s frustration, and this was the case in this situation. As it turned out, it was the right decision; a few months later, the advisor sold a package worth over $19,000 with that supplier.

The bottom line is that frustrations and disappointments will happen. Suppliers will let you down but it’s not always within their control. You may see them as big corporations but you are still dealing with human beings who aren’t perfect. They may be having a bad day. Their staff may have made mistakes. Weather can factor in and mess up any best-laid plans. While purchasing travel insurance is recommended, some clients choose not to buy it. These are all challenges that travel advisors must deal with. Overreacting to those challenges can actually make them worse.

3.      Ignoring the Bottom Line

Most travel advisors are in the business because they love traveling and helping others get the best deals possible. However, some of them don’t pay enough attention to their bottom line. They are unaware of important factors like the commission a supplier is paying or how to balance their accounts.

Recently, I had an advisor leave the agency who did not like that she had to do math to handle her commissions. I was frankly shocked that any person who ran a business could think they didn’t need to manage their finances and that math was even necessary.

Travel advisors must keep close track of their profits and losses. They need to know how much profit they’ll make in selling packages. They need to include the cost of the hours they invest in planning the trip and working with the customer against what they are earning.

You must know how your business is performing financially or you will be caught off-guard. You have to be aware of the numbers involved in order to grow and succeed. Numbers don’t lie. Whether they are good or bad, if you aren’t on top of things, you could be in for a rude awakening.

Some of us don’t like dealing with numbers or tracking finances. Knowing your bottom line can trigger negative emotions, especially if you thought you were doing better than the numbers show. But if you simply ignore the situation, it will likely just get worse. It’s better for the future of your business to take responsibility and try to remedy the situation.

4.      Acceptance of Uncertainty

The travel industry is complex and volatile at times. You must realize that there are situations that are new to you, and you must be willing to learn as you go. What is possible today may not be feasible tomorrow. For example, during the COVID-19 pandemic, travel advisors had to shift their focus. Those who formerly concentrated on selling cruises had to learn how to sell all-inclusive vacations.

The travel industry is not alone on having to learn to adapt and look at other scenarios.  There will be changes in the industry and you must adapt if you want to succeed. Those who can adjust and make lemonade out of lemons are the ones who will survive. 

Big picture thinking involves looking at what’s happening now and how you can prepare for the future of the travel industry. You can plan as much as possible, but often there are unknowns that pop up and you need to quickly adapt to them. There will be days when all you can do is stay afloat. The important thing to remember is you must keep swimming toward the shore, not just treading water. Focus on the ultimate goal, the BIG picture.

About the Author

Jennifer Dugan is an experienced travel professional and owner of Dugan’s Travels. She has over 25 years of experience in the travel industry and when not busy running her business, she enjoys traveling and spending time with her family.