How Joint Ventures Can Catapult You to Success

How Joint Ventures Can Catapult You to Success

by: Michael Angier

Substantial opportunities for increased sales and profits are missed by not seeking out and implementing joint ventures.

Strategic alliances also create value for the customer and save money and build future relationships for the partners.

They don’t have to be complicated, and they can be negotiated and launched quickly.

First, a quick and simple example. A bank that sends its statements out each month is approached by a ski resort. The resort offers an exclusive introductory discount to the bankกs clients. 1. The bank gets to look good by offering something of value to their customers at little or no cost to the bank. 2. The customers save money and hopefully become longtime customers. 3. The resort gains exposure and potentially new guestswith no mailing expense.

Thatกs called a triple win.

All it takes is a little imagination and the commitment to make it happen. The potential is substantial.

And they’re fun. They provide some diversity and variety that makes work more interesting.

Begin with giving more than you expect to receive. What can you offer another company? What can the other company provide that you don’t haveor would be expensive to obtain? A little brainstorming, some planning and some followthrough, and you can easily create a profitable joint venture.

Do it once, fine tune it, and then do it again with the knowledge and experience youกve gained.

The possibilities are endless.

The joint ventures you don’t seek out and execute represent huge sums left on the table.

Put together a project team this week. Generate ideas on how and with whom you might partner. Create your triple win.

About The Author

Copyright Michael Angier. SuccessNet.org and WorldClassBusiness.com help you and your business grow. Get their frëë report, 10 Pillars of a World Class Business, by sending an email to [email protected] Nocost subscriptions, memberships, eCourses, eBooks and more are available at http://SuccessNet.org and [email protected]

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This article was posted on March 16, 2004

by Michael Angier

Uptotheminute Data Squeezes Extra Dollars from

Uptotheminute Data Squeezes Extra Dollars from Hospitality Bookings

by: Bob Kipola

There’s No Such Thing as a DayOld Room

Whether it’s a hotel, resort, campground, condo, or timeshare resort, anyone engaged in booking travelers needs to keep track of their available rooms. Precise, timely awareness of what’s not been rented spells the difference between unsold rooms and the best possible selection for lastminute arrivals.

What the hospitality industry has to sell isn’t like a bagel or a widget. Any day’s unoccupied accommodations can’t be marked down and sold later. By the next day, that inventory is gone a total loss. Since room inventories are so time sensitive, it’s vital to know exactly which rooms are still available at any point in time. Any organization that fails to do that can’t stay competitive. But that simply can’t be done without realtime reservation software.

Employees who handle bookings get excited to see that they can do a better job of matching up supply and demand. Still Waters Condominium Resort in Branson, Missouri brags about their Internet reservations more than doubling when they upgraded their Internet reservation software.

The Internet Changes the Expectations of Travelers

Travelers have gotten into the habit of going online to plan their itinerary. They conduct targeted searches and then check out the Web sites of places they’d consider staying. Roughly 80% (depending on the source) of all hospitality bookings are made directly or indirectly over the Internet.

That convenience has developed a class of savvy travelers and travel planners who are quite comfortable making their own reservations without human assistance. In fact, they prefer it that way. Gone are the days when staff needs to be tied up with phonein reservations.

Let Travelers Share in the Ease of Bookings

Imagine if any traveler could get realtime access to the same availability information that travel professionals have. Do you suppose that with direct access to Internet reservation systems they’d be able to find accommodations that would be impossible to locate otherwise? There’s no question about it. And that reality is having a very positive impact on the bottom line of resorts that have stayed on top of such technological developments.

IRM (Internet Reservation Module), developed by Resort Data, lets guests use the very same database of available rooms as industry insiders. So they are able to book rooms online, without any delays or a middleman. IRM reservations are also commission free a savings for both the guest and hotel.

Reservation Software Makes Bookings Painless

Potential guests expect features like these, with minimal errors or stress:

Easytomake reservations any time of day

Reliable information about room availability that’s kept up to date

Links in place that supplies other, related information about a property

Preferences kept on file for repeat bookings

Ability to find the property that best fits their needs

The time that’s saved by frontdesk staff not having to deal with routine reservation issues leaves them free to provide the type of support services that matter to guests. And properties that can deliver what the guest expects get their business over and over again.

Please visit our website at http://www.resortdata.com or give us a call to find out how an IRM integrated into your property management system can increase your online revenue!

© Bob Kipola, 2004

About The Author

Bob Kipola, VP Sales and Marketing, Resort Data Processing, Inc. Software for Hotels, Resorts, Condominium Rentals, Timeshare and Campgrounds since 1981 PO Box 1170, Vail, CO 81658 [email protected] 9708451140 http://www.resortdata.com

This article was posted on December 28, 2004

by Bob Kipola