Destination Directory

3 Questions to Ask When Making Tough Decisions

When did you last spend quality time evaluating all aspects of your business? If you’re in sales, how much time, energy, and effort are you putting into to some client relationships and is your sales volume reflective of that time spent? More importantly, is it a profitable relationship for you and your company?

 Recently, I sat down and did an annual evaluation of our products and services. During this process, I looked at all aspects of the business, including annual sales, costs, and overall profitability.

Looking globally at your business helps point out your strengths and weaknesses, and that information is a great tool for planning for future growth. Unfortunately, some times you find areas of weakness that are costing you money, and it's necessary to take action.

Here are a few questions you can ask yourself to effectively deal with making your tough decisions:

  • Have you done everything you can do to make your product as successful as possible? You may find you have done everything you can and you may find some gaps in your own actions, which can inspire results.
  • Have you given yourself enough time to cultivate success? Some products take more time to succeed and others are successful immediately. Be sure you know how much time you need to evaluate your results.
  • Is your prospect pool large enough to warrant the results you want or need to be successful?

If you find that the answers to the questions above point to negative results overall, it’s important to talk to your client. What we often fail to remember is our clients want us to be successful just like they are. And, if you communicate with them, you often will be able to negotiate a relationship that is mutually beneficial for both organizations. Remember, if a piece of business is costing you money, it’s not good business.

Written by: Kasie Smith, president and publisher of Groups Today magazine.

 


Tags

Add comment


Security code
Refresh

Recent Blogs

Imagine the World as One: 'Come From Away’ is Valuable for All Groups

Come From Away is the remarkable true story of 7,000 stranded passengers after the September 11 attacks, and the small town of Gander, Newfoundland, that welcomed them. Cultures clashed. Nerves ran high. Yet uneasiness turned into trust—and gratitude turned into enduring friendships.

Matt Lauer Had to Go. Here's Why.

For as long as I can remember, my mornings started with Matt Lauer on the screen. One morning, when my boys were young, one looked at the screen and thought Matt was my husband. (They have the same haircut. We giggled for days over that one.) For years, Matt was a staple in our home, bringing us news and events.

Your Guide to Snapping the Best Shot in Banff National Park

Whether you're an amateur photographer or just looking for tips on capturing the best of Banff and Lake Louise, there are plenty of subjects to choose from. Here are some tips on our more famous natural attraction: wildlife photography.