Ensure your travel agency is covered in case the unexpected happens.
Money and death are the two hardest issues to discuss with employees and family members, according to business coaches and family therapists. Thus legacy planning typically is avoided and when tragedy strikes, loved ones and coworkers are left scrambling.
This issue smacked me in the face several months ago when I was diagnosed with breast cancer. I’m extremely lucky to have the time now to create a legacy plan. Sadly for many, life doesn’t provide “fire drills” for when tragedy occurs.
Bowman’s Travel Brief: Micro-Cations on the Rise Eric Bowman
Travel consultants pride themselves on the service, reliability and relationships they develop with their clients. If something happens to you or a key co-worker, creating a back-up or legacy plan is one of the most effective ways to continue to best serve your clients.
You can take actions that will make it easier to talk about this issue.
Think about whom you would want to handle things in your absence. Ask that individual if they would agree to take on the challenge. Brief them on the responsibilities they would have to handle and any training they might need. Put in writing the named individual who will be responsible for handling these duties.
Compile a file of important user names/passwords that access your CRM, email and booking engines. Update this file regularly and leave instructions on the file location for emergencies.
If your responsibilities include payroll and accounts payable/ receivable, discuss with your bank the necessary procedures to set up a responsible person who’d act on your behalf. Formulate the appropriate training required for that individual to handle this duty.
A Life Insurance Policy
If you’re a principal in your business, consider purchasing a key person’s life insurance policy. This policy funds the business with additional money to stay afloat and also provides capital to hire your replacement.
If you’ve spent years investing in and growing your business, it’s time to start putting arrangements in place to preserve your legacy.
For more information about this post contact a VIP Vacations Specialist.
Jennifer Doncsecz, CTIE, is a nationally recognized travel expert, specializing in Caribbean vacations, destination weddings and honeymoons. As owner and president of VIP Vacations Inc., Jennifer has distinguished herself as one of the top travel agents in America. Having received numerous industry awards, Jennifer uses her position to educate consumers as well as travel professionals on how to create amazing memories through travel.