Does a Travel Business Make Sense in This Bearish Economy?

Since I accepted the challenge of marketing the Platinum One Destinations travel membership, I have often been asked if a travel business – especially a home-based travel business – can be profitable when the U.S. economy is in such doldrums.

The answer is an enthusiastic, if qualified, yes!

No legitimate business just makes money automatically on its own. As a business owner, not only are there services or products you need to provide, you need to have an understanding of the industry you’ve operating in and know how to market what you have to offer.

Thus, in order to succeed in a travel business like P1D or any of its competitors, there are at least three things you MUST know:

#1 The Basics of the Travel Industry. The business of travel is changing. Traditional “brick and mortar” agencies have given way to travel portals like Expedia, Travelocity or Orbitz and nearly 50 percent of traditional agencies closed their doors between 1996 and 2006.

Still, even as the size of the travel industry continues to grow – despite our slowing economy – (the Travel Industry Association predicts a continued growth rate of 4.6 percent annually for the next 10 years), these online giants have seen an unexpected decline in their customer base.

Why is this? One reason is that the online travel booking giants have failed to differentiate the reasons people purchase from them. Low price and online convenience are not the only reasons people buy. Many online bookers are frustrated with their one-size-fits-all approach. These consumers have become dissatisfied with the uncongenial and indifferent nature of most online booking.

Knowing and understanding the reasons for the decline of traditional travel agencies allows you to position yourself with a significant advantage over the competition.

#2 Your Target Demographic and Who Your Customer Is

It is a mistake for small entrepreneurs to market broadly. The old sales adage “when everybody’s your customer, nobody’s your customer” is absolutely true. Every product, every service, every business either appeals or has the potential to appeal much more strongly to a certain definable group of people. This is even more true in a slow economy.

Too many business owners acquire their best customers only by accident. You literally can’t afford to take the chance in throwing out your message to “everybody” in the hope that the right people will find it. You need to have a clear idea of who your customer is.

One of the best target demographic markets for travel services are affluent baby boomers. They are in their peak earning years, and the oldest of them have reached the prime age for travel. Of greatest importance to our business is the fact that boomers have always placed a high priority on travel considering it a necessity, not a luxury.

This is important for no less than three good reasons. First, travel tops the list of activities that they intend to engage in after retirement. Second, the sheer number of boomers traveling will cause business to grow. Third, since travel is a necessity for them, boomers engage in it no matter how scarce their time or money. Travel on their part is less dependent on life stage or the economy.

#3 How To Reach And Capture the Attention of Your Target Market

The best product in the world won make any money for you if you don know how to market it. When all is said and done, its effective marketing that will determine the level of your success in this or any business.

Think of it this way: You can have the cure for cancer in a bottle and if you can figure out how to effectively get the word out, all you’ve got is a vial of chemicals that nobody is interested in.

Travel is a product in high demand to an audience or consumer group that can be reached effectively. It can translate into an easily workable business, but you need a good marketing system.

Unfortunately, too many aspiring business owners are mistakenly taught to focus on selling. What they need to learn is marketing: how to find and capture the attention of people who are interested in what they have to offer.

For myself, I find people who are so predisposed and interested in my travel product that these folks actually sell themselves. And when they sell themselves, I don’t have to. No convincing. No pushing. No hard sell.

It’s a much better (not to mention easier) way to do business.

In the end, succeeding in the travel industry doesn have to depend on the state of the economy. It doesn have to matter if you have never built a business or have sold a product in your life. You don need specialized knowledge, prior travel experience or even a sales disposition in order to build this business. What matters is your ability to learn what you need to and adapt.

A good business opportunity (like Platinum One Destinations) or sponsor (like myself) will present you with the proper business AND marketing systems, as well as the support necessary to be financially successful regardless.

This Home Travel Agent Review is to Introduce the Next King of Home Travel!

It is an extreme pleasure to bring you this Home Travel Agent review as they are the newest Network Marketing Company in the travel industry.

The company is based in Australia and was brought to life by their two co founders, Chris Aiken and Andy Astell who both reside in Queensland, Australia.

The real exciting news we will be covering about this company is their compensation plan, bonus configuration and the means of payment they chose to exercise.

The decision was made to start off this Home Travel Agent review with there chosen means of payment because this will be brief and powerful.

Simply put, HTA is not paying with vouchers, travel coupons or price breaks like travel companies of the past, HTA is using money! As for the reps in home travel this is a great new way.

Chris and Andy decided also to launch the company by hand selecting what they call the Platinum Club members.

Accommodating only top producers and skilled Entrepreneurs as there will merely be ten of these slots world wide to launch HTA and they truly made this an enticing deal handing them their own section on the corporate website, they will be fully vested in the compensation plan, and obtain an extra payout on commissions.

Next in the Home Travel Agent review is the entry level position in their compensation plan known as a Consultant. The position is $250, comes with a company replicated website a custom branding page and incorporates no monthly fees.

If you are a consultant there are two income streams, the first way is by enrolling consultants consultants into HTA and the second is a pretty large payment on travel goods sold as well.

After Consultant the next step is to be a a Team Leader; this is made possible merely by personally enrolling five paid as Consultants into the company.

In this position they will receive a life time vested residual contract and be able to title the business and of it’s passive residual income to anyone the choose, and generate a third income stream. The third revenue source is on there front line Consultants.

Next in the Home Travel Agent review we go to the third level of compensation, where the Team Leader becomes an Area Leader by guiding three of their personally sponsored Consultants become Team Leaders and then acquiring a fourth and additional income. That being an over ride on their second tier consultants.

Then the final stage in the compensation plan, National Leader. Only one requirement here would be to personally sponsor one thousand consultants into HTA.

This does not ad a new stream of income yet does come with a few hefty perks. One is a $10,000 bonus and the second is a Company car.

The final piece of the Home Travel Agent review is their 100 level bonus formation.

Regardless of what stage you are in HTA, when you successfully and personally sponsor 100 paid as Consultants, the company will award you a $10,000 bonus, over the commissions you have already earned.

That bonus works for the first 100, and every 100 personally sponsored Consultants that are brought by you into HTA.

Is It Worth Applying For A Platinum Credit Card?

Way back in the early days of credit cards, around 50 years or so ago, the proposition they offered was pretty simple: pay by card, and either clear the balance in full each month or pay interest on the debt you accumulate. There would be little or nothing in the way of added benefits or inducements, as the novelty of paying by plastic and getting easy credit was enough to lure in customers. Indeed, it was perfectly normal to charge cardholders an annual fee simply for the privilege of carrying the card.

Over time, as more and more banks and finance providers got in on the credit card act, there was more competition and so extra features became common. One easy way to make a card stand out from the crowd was to label it as a ‘Gold’ card, implying a level of prestige and even glamour, which would in theory rub off onto the cardholder. Generally these cards would offer some sort of premium service such as free insurance or travel benefits, although often at the cost of a higher annual fee and more stringent approval criteria – good credit was essential, as was usually a higher minimum income.

As gold cards became more and more common, and the features on standard cards began to get more enticing, a new level of prestige was needed, and so the platinum card was introduced into the market. Typically, a holder of a platinum card would have been considered among society’s financial elite, and the card accounts would have higher credit limits and access to a greater range of premium features compared to standard or even gold cards.

These days, however, even the most humble of credit cards will probably offer features considered inconceivable a few decades ago. Balance transfers, interest free periods, rewards, cash back, free insurance, telephone help and information lines – all of these can be found in one form or another right across the credit card spectrum. So what reasons remain for choosing a platinum card over another one?

Although some platinum cards can still offer benefits that you wouldn’t normally find on a standard card, such as entry into business class lounges at airports for example, it’s rare to find a general platinum card that can’t be beaten by a more specialized card on a lower rung of the prestige ladder. A proper travel rewards card, for example, will likely still offer the airport lounges feature as a backup to its main travel points program.

The main reason for the existence of platinum cards is still the perception of them as a status symbol. Even this benefit is under threat, with the emergence of ‘black’ credit cards which are aimed at supplanting platinum cards as the highest status cards on the market.

If you can find a card which suits your needs and offers the features you desire, and it just happens to be a platinum card, then that’s not a problem at all. Just don’t be fooled by the marketing hype into thinking that a platinum card is necessarily a good deal or of higher status: you should judge a card on its features alone, and not on any pretensions of prestige.