Robert Frost said, “In 3 words I can sum up everything I have learned about life. It goes on.”
Friday I was reading that crisis in Greece continues to worry investors. RE market seems to have turned the corner in the US. Next article said RE market remains weak. Meantime, volcanic eruption in Iceland has royally screwed up airline flights. To point UK has sent ships to pick up stranded citizens in the Baltic. Stock market rallied. Wait a minute, it dropped Friday on news of yet another scandal.
What the heck (alright I tamed that down) does all of this mean? How do we make it work for our businesses?
The more I read the less I know. If I don’t like one analysis I can read a little more and get the opposite analysis. Economics has always been more art than science. Yet, people, or at least the media seem to be dwelling on economic predictions more than ever.
“At first I was uncertain, now I’m not so sure.” Anonymous
Those of us in business need to be aware of what’s going on in the world. But then move forward without relying too much on what’s going on. Another quote I like, “There’s nothing wrong with looking back, just don’t stare.”
There are certain things we know.
The world knows that natural resources are depleting and the population is exploding. Likewise, each of us should know what is going on in each of the communities we do business in. Which businesses are growing and which are contracting. But do we?
I was recently talking to a VP Operations who has been asking their hotel management teams:
- When was the last time the GM’s asked their teams, specifically, which local businesses were growing or poised for growth? When was the last time the sales team visited those businesses to learn what their needs were?
- When was the last time they attended Chamber of Commerce Meeting? Met with the local CVB? Had lunch with their peers from other hotels? Attended a Rotary or Kiwanis meeting? Were involved in another civic activity?
This VP was worried that the teams were concentrating on today’s business to the exclusion of future business. The VP was right. The GM’s had not been asking the first question. Attending a staff meeting it was quickly apparent Department heads were not getting into the community to learn what was coming. Most of the Department heads belonged to one or more organizations, but they rarely attended meetings.
Action Plan
Hotels had their sales teams calling on known accounts and local businesses. Department heads had to attend at least one civic function a month. By dividing up civic organizations, each hotel assured attendance at majority of meetings and functions. Things that should have been happening all along, but in the effort to get immediate business, things that were not being done systematically.
Results
First month hotel picked up 4 additional catering functions. Booked 3 small meetings for the next month. All a result of sales team calling on businesses they added to their list of prospects. Attendance at civic functions and meetings resulted in booking 3 wedding receptions, an anniversary party, role out party for expansion at local business, and events for 3 new businesses that were opening within 3 months. Plus over 20 leads for other business functions with potential for over 300 room nights.
VP’s prodding reminded Department heads they were all responsible for sales for their hotel.
