Think about your business and be honest. Are you running it like a hobby or are you embracing the role of entrepreneur? If you’re a hobbyist and like it that way, no judgement here. It’s just that we constantly get asked how to make the shift to something bigger – more sales, and bigger commissions.
Here are seven signs that you’re running your business like a hobby and what to do if you want more. You WANT to make the change and shift to the role of entrepreneur.
Do you have new and unique leads coming in everyday? And we’re not talking about friends and family here. Booking friends and family is great, but we’re wanting to see leads coming in that are fresh and NEW! How can you make this happen (and shift to entrepreneur status) is by putting the correct marketing systems in place, so leads are coming to you in your sleep. More on marketing later.
Before this year (COVID-19 aside) were you trending towards $700,000 to $1 million in sales for the year? If not, it might be a sign that you’ve plateaued and are stuck in hobby status. Of course, this goes back to point number one and the leads that you’ve got coming in. Which means that your marketing machine and all systems need to be set up. Both of these things are crucial if you want to transform from hobbyist to entrepreneur.
Do you have automation in place? We’re talking about repeatable processes and procedures for everything from lead management to client service. If you don’t and want to skyrocket to entrepreneurship, these things need to be in place. It will allow you to allocate your time better, keep you in your zone of genius (selling travel) and make you more money. See how we’re building upon point number one and two?
Do you have a true marketing plan in place? And we mean more than just posting to Facebook. Do you have a FULL marketing plan? Marketing is the lifeblood of this business, and while it can feel like a second job, it is the most crucial piece. To shift from hobbyist to entrepreneur, this must be tackled. Sit down and think of your unique marketing mix – does it include SEO, direct mail, or setting up a booth at a trade show? Use this to draft a marketing plan and budget and you’re on your way!
Have you partnered with a mentor that has made the costly mistakes already? An entrepreneur is always looking to uplevel and surrounding themselves with those that have done it before is key. Are you learning from the best as you look to grow? So simple!
Do you have goals and a plan? If not, it’s just a dream, or, again, you’ve hit a plateau in your business. Actionable steps are needed, so sit down and write out your goals and how you’re getting there. An entrepreneur doesn’t keep their goals and plans in the back of their mind, they put pen to paper.
Are you committed to investing in your business? If you want to DIY your business that’s great. But, an entrepreneur is willing and able to spend the necessary money to better their business. Whether it be investing in a CRM, marketing or other automation systems. Bottom line you need to spend money to make money, so if you want to supersize take these necessary steps.
There you have it. Seven signs you have a hobby business and how to turn it around (if you so choose and if not, that’s okay) so YOU become the true travel business entrepreneur you’ve dreamed of. For a full video on this topic, click here. For more tips and strategies, join us over on our Facebook group page or Masterclass!
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