How To Survive The Business Journey
Well before the CoVid-19 situation, our founder Kerryn Powell had set in place a variety of insights at YTM events to illustrate how valuable conversations are in sharing knowledge and experience.
Kerryn has always believed that amplifiying the efforts of people within her network can inspire others to reflect and review, AND learn by hearing the perspective of others. Watch the video and be impressed and inspired by this business owner….. or read the summary of the conversation below,
Please note while planned before hand, this insight is now in the midst of the Covid-19 outbreak. We had absolutely no idea how relevant this conversation would be.
We take this opportunity to sincerely thank Jen for her willingness to have an open and authentic conversation.
Meet Jen Watson, owner of Helloworld Travel, Bentleigh is the YTM Sponsor and talked with Kerryn at the inaugural YTM ONLINE networking event last month. Jen shared the ingredients she believes business owners need to be successful. Some excerpts of the conversation include:
Vision, past and future
When Jen first started her business 10 years ago, her vision was to build a business that could support her, operate profitably and provide a passive income into her retirement. That vision has changed incredibly, and her vision right now is to get through Covid- 19, to have a business that will support her into the future, to keep her staff employed, to keep people having wonderful holidays. Jen thinks people are going to be a little bit gun shy of travel, so her new vision needs to be to teach people to travel again.
Benefit of Networking to Provide Support Systems
Particularly in times like these you need to tap into support when you're running a business. Jen’s biggest support system is her friends and family. A lot of her friends are in the industry. Jen admits it’s taken a long time to learn to accept support from friends and family particularly in a business environment.
Being involved with people who are doing similar things, even if they're not in your own circle of friends per se has enormous benefits. For example, Jen has tapped into a Facebook page where travel agents are actually supporting each other, swapping stories answering questions, sharing knowledge. How did you deal with this, had to deal with that? What do we do here? These sorts of support networks have been really, really valuable now.
The networking groups the team have built , help to put things into perspective. Eight weeks ago, she thought the bottom had fallen out of her world, when she realised what was going to happen with international travel around the world. But the support networks that she has had around her have actually held her up during that time and slowly but surely, she’s figured out a way through.
Five Key Elements To Make A Business Successful
Jen’s highest priority is her team, her staff. She admits if she didn't have her team, she wouldn't have a business. They're the reason that she wakes up in the morning.
They are the ones that look after the customers. Jen says “I've got an amazing team of consultants, they're all brilliant. Two in particular, I would say are amongst the best in Australia”.
Customers are second. Jen admits that sounds counter intuitive, but for her, that's how it is and that's how her business has been successful today.
The third priority would have to be good business processes. Right now they are holding the team together. Knowing that there is a process to follow step one, step two, step three, step four, they know what their processes are. And that helps them to manage, they work on a day to day basis, given that the hours have been cut back, and they don't know what the future holds, they've got a process to follow, and that gives them confidence. But also, processes around cash flow and managing everything around the financial side of the business is essential. If a business didn't have good processes in place before, it would be in all sorts of strife.
Jen shares “The other two things that I'm really passionate about in my business and underpin everything we do is our integrity. Even if we have to tell a client something they don't want to hear and right now that more often than we'd like we, we know we have the integrity to tell them and not to sugar-coat it or anything like that. I think it's pretty important we're dealing with a lot of people have invested a lot of money in their trouble. They need to know where they stand but don't want to hear platitudes about I think we can get this sorted for you when we can't. That integrity has to be there and it will stand us in good stead for the future. And transparency, everything is on the table. Everybody can see everything about our business. I don't have any problems with that. That's because we have nothing to hide… And that's the probably the five things that that underpin our business at any time, but Right now, they are so, so important.”
Contribution to Community
The support of the local community is very valuable to a business and Jen has set up a travel bank to support community group. (hear more in the interview)
Current Problem and Covid-19
Jen’s travel business is facing six months of no revenue , possibly 12. So, right now they are watching very closely government stimulus, because that will be helpful.
These are unprecedented times it is not Jen’s fault, even if she did recently share her favourite quote with Kerryn-
“Change nothing and nothing changes”.
Jen explained that she loves change. “It brings it with so many opportunities and challenges. “
Thank you Jen for sharing your story. ..You are an absolute inspiration and we are here to support you where we can. xx
If you are wondering how to survive the business journey in these challenging times, , please book a COMPLIMENTARY 20 minute conversation with the team at YTM. We do not claim to have all the answers, but are happy to bounce some ideas around and help you gain some clarity to move forward.
