Save money; book cheap flights in the afternoon.

Have you ever wondered when the best time is to book a flight. We all know to book well in advance and that prices are seasonal, but you might be surprised to find out that the time of day also influences the price of cheap flights - so save money on cheap seats - book cheap flights in the afternoon.

Here's a survey done by online travel engine TO. Conducted at various times through the day on 10 Feb 2010, it shows a definite trend indicating that you should be booking at 13:00 to save money on cheap seats.



A survey conducted by the Wall Street Journal also indicates that airfare is more expensive over weekends. Their research also shows cheap flight prices to be best when booked 8 weeks in advance ... and on a Tuesday.
I always use South Africa TO - http://www.southafrica.to/. Easy to compare prices and find open seats.

So save money; go ahead and book your cheap flights at 13:00 next Tuesday.

Read more »

Succession planning

The tragic events of Thursday afternoon, when a Pilatus belonging to Italtile crashed into the sea off Plettenburg Bay, highlights some of the not so obvious dangers of business and the consequences of a lack of succession planning.

I’m not sure whether Italtile have a succession plan in place, but having lost many of their Exco in the crash could have dire consequences for the company.

A tragedy such as this could have the following consequences, should there be no succession plan in place:

If the CEO and CFO are counter signatories to things such as payroll; this function could be frozen. The solution to this is to obviously have 3 to 4 nominated signatories, of which any 2 suffice.

The succession plan needs to be at least three levels deep within the structure. Obviously in such circumstances, temporary or permanent structures will be implemented in order to allow the business to continue. This will probably entail people assuming additional temporary functions, or even moving into new positions. For each move the ripple effect needs to be covered.

If no succession plan is in place, skills will probably be lacking, with no clear direction being possible. The solution to this is to have updated succession plans in place.

 Starting at the top, the CEO should have a shadow identified to succeed him in such an event. It’s not good enough to merely identify someone – skills level needs to be evaluated, and training instituted. This planning must obviously filter down to middle management, so that the functionality of the business can be maintained in time of crisis. This plan should be evaluated twice a year, and updated both in regards of succession and skills.

A spinoff of this succession planning is that it also acts as an incentive for the team. How often have you heard people complaining that they’re in a dead-end job? This is because there’s no clear succession planning; no defined career-path planning; and therefore no co-ordinated skills development.

Succession planning is a well known necessity, but it’s time consuming and often seen as requiring too much input without direct measurable returns. However it is vital, and if correctly applied can effectively form part of the KPI process.

Read more »

Small business management

When a small business owner draws up his business plan, he takes it as a given that he will have sufficient small business management skills to grow the business. But often he loses sight of best practice in his business. Here is some small business advice:
1. Provide spectacular customer service -- every time. Introduce a “mystery shopper”. Have a friend visit your business and provide feedback from a customer’s perspective. This person should be unknown to your staff and willing to provide a candid assessment.
2. Make sure your front and back office work like a well-oiled machine. Are the front line and the back office telling your customers the same thing? Part of good small business management, it’s a good idea to hold frequent staff meetings where the business’ vision is reinforced.
3. Manage your customer relationships -- return customers take the least amount of effort -- use that to your advantage. It’s best business practice to keep in touch often. Build a database of customers.
4. Review your strategic business plan monthly (weekly is even better). Make sure you’re managing your small business in accordance with your business plan.
5. Adjust your strategic plan as necessary. Always strive to be a best practice business in your niche. Your "smallness" makes you more flexible.
6. Communicate, communicate, communicate... with your employees and your customers. Nurture those relationships. Ask for feedback often.
These points, although obvious and simple are vital in effective small business management.

Read more »