PLANNING FOR A BUSINESS TRIP
– Radhakrishnan Pillai
(This weekly column will explore the relevance and application of Principles and Strategies of Chanakya as discussed in his 3rd Century BC treatise, Kautilyas Arthashastra, in Todays Corporate World)
Traveling is a very important part of business development. It helps you to approach new clients, try new markets and also get a feedback on new products and services that your firm may be experimenting with.
In todays globalised corporate world, traveling across the country or even across continents is an essential part of any business. Exploring new business development opportunities, reaching new investors or seeking Joint Ventures (JVs) are common and important tasks even in small-sized companies.
But planning for your business travel is an equally important task. Chanakya gives us a hint:
He should start after making proper arrangements for vehicles, draught-animals and retinue of servants (1.16.5)
Here are some additional tips to be kept in mind while planning for your trip:
- HAVE A CLEAR TRAVEL PLAN
It is important to make a clear travel plan complete with an itinerary for the number of days you will be in the new region. Take into consideration the requirement of time, money and various other factors. Use local contacts to make your plan clear and precise. Leave some extra time to explore any unexpected opportunities.
- YOUR TRAVELING TEAM
Who are the people traveling with you? How many of them? What are their roles? These are some important questions that need to be answered for your internal clarity. A team also adds strength to your part. That is why government officials, like ministers, always travel in a delegation.
- STUDY POTENTIAL PROSPECTIVE WELL
Even before you go, study the prospective target. Most of the initial information would be available on the internet. Verify the information through trusted sources. When face-to -face with them, ask specific questions to make sure all the information is correct. After all, its like a long term association you need to make sure you are getting into the right tie-ups.
- DO NOT CLOSE DEALS IMMEDIATELY
At times, it is very exciting to close deals in the very first meeting. Resist the temptation. All that glitters is not gold. First impression necessarily need not be the lasting impression. Come back home. Then, with a cool mind, restudy all important areas and, with the help of experts, take the next step ahead.
Remember, while every new opportunity is a possibility, it is important to do a little bit of thinking and churning so that you can handle future events in a much better way. You should aim to be like the successful businessman who was once offered a billion dollars as investment in his company. Pat came his reply, Thanks for the offer; will get back to you soon!
(The author is the director of ATMA DARSHAN, a company that provides services, including spiritual tours. He is a management consultant and trainer. Those interested in having his sessions in their respective organisations can contact him on +91-9820374796 / 9821152537 or mail to radhakrishnan@atmadarshan.com)
Note: An e course on Kautilyas Arthashastra will be available soon. Watch out http://maildirect.co.in/reports/link.htm?~aW5mb0BrYXJtYXlvZy5jb21+MTE3MTI3NjgwMn4xMjI5MF83NX4yMDA3MDJ+VA==~www.indiayogi.com/
Read more:
Introduction of Kautilyas Arthashastra
Management Fundamentals in Kautilyas Arthashastra