TOUGH TIMES AHEAD FOR TRAVEL
BUSINESS HEALTHCHECKER

How well are you keeping up with the downturn in the economy?

Use our checklist below to help highlight important areas in your business that need your immediate attention.

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* Name:    *Business Name:

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		We are on top of this	We could use some help with this
	Review your budgets and set realistic and achievable targets for 2009.	Yes No	Yes No
	Make sure your terms of business contain explicit payment terms and all customers are paying within this timescale.	Yes No	Yes No
	Agree extended payment terms with all suppliers (in advance if appropriate).	Yes No	Yes No
	Review costly suppliers and review other potential suppliers at a lower cost (though ensuring quality is maintained).	Yes No	Yes No
	Prepare cash flow and profit and loss account forecasts and assess the implications of these and whether any more resource will be required to meet targets.	Yes No	Yes No
	If appropriate, review banking facilities and discuss the need for extensions and future financing.	Yes No	Yes No
	Put extra effort into making sure your relationships with your better customers and key suppliers are solid.	Yes No	Yes No
	Review and preparing CAA forms early and ensuring APC transition is managed.	Yes No	Yes No
	Review and flow chart the main processes in your business (e.g. Booking processing, unsold capacity management etc) and challenge the need for each step.	Yes No	Yes No
	Encourage team members to streamline and simplify processes (e.g. sit down and brainstorm about efficiencies and cost reduction).	Yes No	Yes No
	Use "bottom up" budgeting where everyone in the office gives input on areas over which they are in control - target a 10% cost saving.	Yes No	Yes No
	Review your staffing needs over the next 12 months and make weak or unnecessary individuals redundant now.	Yes No	Yes No
	Get your members of staff involved in a discussion of likely trading conditions and get their input on reducing costs and growing / maintaining revenues.	Yes No	Yes No
	Review your list of destinations/tours and eliminate those that are unprofitable or non-core	Yes No	Yes No
	Establish your key performance indicators (KPI's) and measure them on a daily basis e.g.	Yes No	Yes No
	• Booking enquiries generated per sales employee • Number of enquiries converted into bookings • Average price charged per passenger • Cash balance • Gross profit per tour and/or booking • Net profit per tour • Ancillary revenue earned per booking
	Review efficiency of the business' processes and consider alternatives such as outsourcing certain activities locally or overseas i.e. bookkeeping, payroll etc.	Yes No	Yes No
	Pull everyone together and explain the business strategy and get their buy-in.	Yes No	Yes No

Dealings with some of our clients lately has shown us that INVESTING just a little QUALITY TIME thinking about YOUR BUSINESS and its NEEDS, as opposed to being IMMERSED IN THE DETAIL, has a HUGE EFFECT. We are EXPERTS at helping BUSINESS OWNERS get the most out of their thoughts. It is ALWAYS productive to share IDEAS AND CONCERNS especially in these tougher trading times.

WE ARE ALWAYS AVAILABLE TO HELP YOU GET THROUGH THIS DOWNTURN AND EMERGE OUT THE OTHER SIDE AS A STRONGER AND MORE RESILIENT BUSINESS.