Latest / Travel Agency in a Year / Day 174 - Overcoming "Imposter Supplier Syndrome"
Transcript
- Rachel: Welcome to the Travel Agency in a Year podcast. I'm your host, Rachel K, and we're on day 174. It is all about overcoming the imposter supplier syndrome. So there's imposter syndrome when it comes to marketing, putting yourself out there. This episode is all about the whole concept of don't think with your wallet, but deeper than that. So have you ever sat down at your desk? Opened up your itinerary builder, whatever it is, Travify, Travel Joy. I'm losing my voice turn. And once you put everything together, you see the price tag for your client, and you're like, ⁓ my gosh. So allow me to paint a picture for you. Because this has happened not only to me as a travel agency owner, it most likely has happened to you as well. You get a lead. It's a great lead on paper. You're like, this is my aligned client. This is my dream. They have an amazingly healthy budget. They want like premium five star ultra lux. Maybe something like in the Maldives, maybe something that's private guided around Europe. Ultra immersive experience. You go to your preferred suppliers, you get the quotes, you put it all together. It could be like private yacht charters, like. You're like, this doesn't happen to me, but let's paint the picture anyway. ⁓ right before you hit the send button to have them approve your proposal, you look at the total, and the number is like maybe 25k, maybe 30, maybe 50, maybe 100, and then your stomach drops. You feel like this immediate wave of anxiety just wash over you. Your heart starts beating a little bit faster, and the toxic little ego voice in your bed chimes in and it starts whispering: Who are you to sell this? You've never personally stayed at this hotel that costs $1,500 a night or $3,500 a night. You don't vacation like this. You can't afford this. What if they ask you? Hyper specific questions about the pillow menu. What if they realize you're just a regular person sitting in your PJs in your home office trying to pitch to them a luxury lifestyle that you don't even know anything about? ⁓ you've probably had that happen. Maybe not exactly on that level, but something like that. If you have have have have ever had that hesitancy to send A proposal that's higher ticket than what you're used to. Or if you've ever actively tried to downgrade an itinerary or a proposal because you're like, I could save them a few dollars, substituting a four-star property for the five-star, or maybe going a few blocks away from where they actually want to go because the price made you uncomfortable. You are suffering from the imposter supplier syndrome. It is So insidious. I see a lot of travel advisors do this. And it's like a quiet psychological roadblock in the travel industry. Because all you're told is don't think with your wallet. And it actively is capping your potential income. It's cut you are cutting your own commissions by being like, let me see if I can save them a few bucks. And you're holding your own agency that you are building back from. Really breaking into the luxury market. We're gonna tear down this mental barrier. Brick by brick. Let's look, let's change that mindset from like looking at itineraries through your own wallet, which you know all of you in basic trainings with whatever host or travel agency you've signed on with, that's one of the first things don't think with your wallet. We're gonna shift that mindset. We're gonna put you in the shoes of a high value, confident travel agency CEO before Q three arrives. So you're ready for wave season. Okay? So first, let's break down the psychology of thinking with your own wallet. it's a deeply fall flawed belief, fallaful belief, because I can't talk, that you have to be a routine consumer of whatever travel you're selling in order to be a successful seller of said travel. And that is a common can like misconception, not only among travel advisors, but also among your potential clients. ⁓ sometimes they think that you have been to every single property or on every single cruise ship, and that's great information to have. ⁓ but ultimately I've seen advisors like literally been on calls with advisors with their clients. Where they just start talking about their own trips and I'm like, dude, that's not what they're asking for. They're asking for your professionalism, not the last trip you took at a similar place, you know? This is an absolute illusion, is what I'm telling you. It makes zero logical sense if you look at any other like high-ticket industry on the planet. Think about like not even a high-ticket, but just like an auto dealership. Now, if you know me, if you've signed up for some of my courses, if you haven't, head on over to elevatewithrachelk.com. But anyway. The Sweet Spot to Success course, I liken niching down to auto dealerships. That's the metaphor I use. And we're gonna use that in this episode today. But think about the high-end auto dealership or any auto dealership. Just because ⁓ the dealership has Ferraris or BMW's Mercedes, whatever, Toyota, Lexus, whatever. Do you really think that every single salesman on the sales floor is driving one of those right now? The answer is no. I will tell you that right now, and I know this because my son works at an auto dealership, and they aren't all driving the exact brand of cars that his dealership offers. Now, like the finance managers, maybe the upper management will have like a company car, they get a good deal on something that the auto dealership carries. However, the majority of them do not drive it. And the o the owners themselves drive whatever the heck they feel like driving. Okay. But do you think the salesman on like the showroom floor pitching a $300,000, like, I don't know, I don't know the price of cars, Ferrari or like some kind of crazy custom Lambo? Personally, he has a fleet of exotic sports cars sitting in his garage? No, absolutely not. He drives whatever the heck he drives. Most likely like a normal sedan. Maybe a truck. He he just knows what he offers to other people, and he's offering it to other people. Think about realtors. Do you think every realtor that gets like a multi million dollar maybe a waterfront mansion ⁓ in like Miami or Malibu or anywhere in the US really. Do you think they personally live at that scale? No, they don't. Many of the ones that I know personally could never and also they can't even stage a home for that level, honestly. Like I've seen the home decor. I'm not judging. Get back to it, Rachel. They usually live in like normal subur suburban neighborhoods. If they're doing really well, maybe it's a gated community, but it's not like ultra wealthy. Whoop dee dee. ⁓ but when they walk onto that property that they have the like they're the seller's agent or whatever, or the buyer's agent. And when they speak to their clients. They don't even stutter over the price. They're not gonna be like, ⁓ it's it's 4.5 million. No. They don't apologize for the cost. It is what it is. They don't offer a discount before the buyer even asks for one, right? They point out the beautiful home, custom finishes. Here's this fabulous his and hers walk in closets, here's a saltwater pool, whatever the heck, I don't know. Travertine tile. Travertine used to be a thing. I feel like it's not anymore. ⁓ Anyway, they talk about the market, they talk about the neighborhood, and they close the deal with poise. And they don't they don't freak out about the price. So while these, you know, car salesmen and realtors are doing that. Many travel advisors that I mentor completely spin out over like even just like their first ten thousand dollar honeymoon. Well, I'd never I'd never pay for that. It's not you booking the trip. Get over yourself. ⁓ value is relative and other industries and people in those industries understand that. Nobody should be projecting their own personal financial limitations and limiting beliefs. onto their buyers or their clients. So when you are experiencing the old imposter supplier syndrome, what you're actually doing is committing the ultimate cardinal sin of sales. You're shopping with your own wallet. You are looking at a thirty thousand dollar trip proposal and thinking, wow, thirty grand could pay off my car or my student loans. It could pay my however many years of my mortgage, it could fund my entire family's lifestyle for six months. I don't know your living situation. This is an insane amount of money to spend on just two weeks. And here's the breakthrough you have to make today. To when you're in like the luxury sphere or even if you're not, and it's just like more than what you would spend. So when it's when it's your client $30,000 doesn't carry the same emotional weight for them if they are willing, if that's what they want. Okay. I had to explain this when I was a butler, and I'll get to that story here in a second. To them, especially if it's like a high net worth client, thirty thousand dollars is just the baseline for securing a seamless, private, stress-free experience for them as a couple, them as their family, whatevs. It's a and thirty thousand dollars, honestly, go look at like a family trip to like beaches or sandals if you haven't, like butlered suites over the holidays. Like It's nothing to them. It's a drop in the bucket compared to their time, which anyone with that ⁓ eventually you learn that your time is your most valuable asset. And that is very, very common once you get to higher net worth clientele. So they're saving their time. The most valuable asset. That is what you are providing them in exchange for this money, whether it's the fee up front and the trip or just the trip itself. When you show up to a luxury client or a client that has a budget that's higher than you've ever experienced before, and you have any hesitation when your email tone, sorry to bother you, but here's this proposal, or if you're like, here's the price, but I found something better for you. Or this is gonna take me longer because I'm trying to find you the best deal. It should not be in your language. Sorry. Fight me on that. I don't care. they can smell that like through your email. The they can smell like, ⁓ this person doesn't value their time. They're spending more time trying to save me money. Or they don't understand what I'm asking for. They're not going to be happy about it. They're going to be able to smell the lack of confidence, and they immediately assume that you don't know how to handle higher level clientele. You are not protecting your clients by downgrading them or searching for an additional two or three days to find them the best pricing. You're just protecting your own comfort zone and you're leaving it thousands of dollars of commission on the table. So backing it up, I mentioned I would tell the butler story, and here it is. I managed like where I wasn't the full manager, there was an estate manager there, and I managed like a 25 acre estate with five buildings and four of them were like living quotas. Quaint little 5,000 square foot cabins. Two of them were like 5,000 square foot, the other two were about 2,000. And there needed to be new roofs. on all of the buildings. So I was talking to the there was like a team of two that did like yard maintenance type things. And I was talking to them and the estate manager and they were all like well that's gonna be twenty thousand dollars per and I gotta pull up my calculator here because I forgot the math I pulled my phone calculator out to demonstrate to them. And I was like, yeah, twenty thousand dollars isn't anything. So let's say it was eighty thousand dollars for all four roofs to be fully replaced. I don't remember the exact number. this guy at the time had a net worth of I can't add the zeros, okay. Eight hundred thousand, eight million, eighty million, eight hundred million, eight billion. Eight billion dollars. That was his net worth. And they were complaining over eighty thousand dollars. So I told them Let's see 100,000, 10,000. That would be like if they had only $10,000 to their name and they had to spend 10 cents to pay for four new roofs. That is nothing to this person. And it needs to be done because the entire property was worth millions of dollars. So to maintain the millions of dollars of value. Similarly, if the worth of the property, not the net worth of the principal, but let's say the property is worth $8 million, it would cost like maybe, I don't know how to do the math right. I'm gonna have to do the math again. $80,000 divided by 8 million, $80,800, $8 million. It'd be like one penny's worth. It is one percent of the value. ⁓ but if the roof isn't replaced, it's gonna lower the value much more significantly if he had to sell it off. That's what I'm saying about this. Like you do not assume how much money people make or what they value or how they want to spend their money, okay? Do not think with your own wallet. And that's just another example. None of those people are self-employed, by the way, so. I maybe that's just a strange mindset a lot of us have learned over the years. So let's reframe it. How do we fix this? We reframe exactly what the client is paying for, okay? So I made my attempt to explain it with the butler story and the roofs that needed replacing. And I was like, okay, well, if you had 10 grand cash in your pocket and you lost a dime, would you be worried about it? And they were like, no. So let's reframe this. Your clients are not paying for your personal vacation history. They don't care if you've personally slept in the presidential suite of the hotel you're recommending. They don't care if you've personally phone flown first class. Ever. They don't care. Like, there's like you wanna brag about it, you're not gonna sound you're not you're not gonna really attract the really high-end clients if you're like, I always have to fly first class. Don't you love their meals on Delta? They're not gonna care. What they're paying for is your professional access, your ability to make quick decisions, your vetting skills And your industry relationships. So let's break down three things you could do so you can realize how valuable you actually are. All right, the professional access. Okay. UNOR numero UNRO UNERO NUMO NUMERO UNO. ⁓ Travelers that hire travel agents value their time above how much money they can save, period. Especially if it's just like a family vacation and no nothing special. I think I've said this before and I'll say it again. It takes on average the regular consumer 40 hours just to plan their trips. You're giving them a full week of working hours, which you know they don't have to be working. But they're doing this like after hours over weekends, but think about that, a full Monday through Friday work schedule that they probably have back to them. To do whatever they want. Okay? They don't have to jump. From one blog to the next, reading conflicting reviews on TripAdvisor. They don't have to try to figure out if a villa is actually private or if it like faces a parking lot or if an Airbnb Well gosh, Airbnb and B or Verbo is like super ghetto neighborhood. They're hiring you to be their ultimate human filter. You have access to closed. Vetted preferred supplier portals and potential DMCs, the general public most likely cannot touch. Now, we do have access to some that the general public can touch. You have DMCs on the ground in the destinations that you offer. Okay. They know exactly which local guides are exceptional, which ones are mediocre. That sort of access is an elite asset, and it is precisely what justifies your presence in the entire transaction. And can justify a fee if you want to charge them. Number two. Point B. They're paying you for your vetting skills. Even if you haven't been to a specific property or on a specific cruise ship, you know how to read between the lines. of the description. You know how to verify like the room categories, understanding logistics. You know how to look at flight connection times to make sure they don't miss their private transfer that you're setting up. Which they shouldn't miss their private transfer, but you know it could happen. ⁓ you know how to structure like a proposal and an itinerary so that it flows beautifully Without causing travel fatigue, because you understand what they need. You possess specialized operational knowledge, and that can take a lot of time to cultivate. Even if you're new to the travel industry, I know so many travel advisors are like, I've been planning all the trips for my family for years, and now I'm a travel advisor. This has taken years for you to cultivate. Okay, thirdly. And the most important piece of the puzzle, your industry relationships. This is the ultimate differentiator. If a consumer rando books a hotel on like Expedia or Booking.com, and you've all heard this argument before, but let me reiterate it for you so you feel confident today. They're just a confirmation number on a spreadsheet to the hotel. ⁓ if the hotel's oversold, that person is usually the first one to get bumped to a lower room category and or walked. And guess what? When they call somebody for help. It's a call center usually filled with people who have never left their hometown. How do I know this? There's one in my hometown. And I've met people that worked there. They don't have passports. Any hoodles. But if you book that property through I don't know. Maybe you're a virtuoso affiliated travel agency. maybe you're with four seasons preferred, any other consortia networks. Everything changes. You aren't just clicking buttons, you're sending a direct professional email, and you can send it to the GM, director of sales, concierge, you have those contacts, and you're saying, hello, my VIP clients. Mr and Mrs Smith are arriving Tuesday for their twenty fifth anniversary. We're doing a terrible British accent because I feel like it makes it sound fancier. Please ensure they are looked after they are looked after beautifully. Accord them the standard upgrades and amenities included as part of our consortia agreement. And place a nice welcome note from my agency in the room. Best regards XYZ travel. Was that a terrible accent? So when they arrive, not only did you curate a really amazing hotel, but they get greeted by name, they might get a complimentary bottle of champagne. They might get upgraded. They're gonna get the additional amenities your consortia provides. They think you're a miracle worker. And even if you aren't like booking stuff that requires consortia involvement, if you sell the same amenities, brand even over and over again and you develop the relationship with that brand, the same thing happens. They think you're this amazing miracle worker. And did that happen because you've personally stayed there? No. It happened because you have the relationships and the clout to make it happen. You are the architect of their entire experience. Please do not minimize your worth just because you haven't personally paid that much for a trip. You are high value. Every single cent you earn from your fees and your commission is totally justifiable. Don't try to save people 500 bucks on a $30,000 itinerary. Cause guess what, chicken butts? That's gonna take you several hours. Story number two, this episode's just gonna be long, because I'm just yep, we're over. I don't care. ⁓ trying to save like two hundred dollars and it takes you, let's say, ten hours, what's two hundred divided by ten? you're not making enough money. That's 20 bucks an hour, but then you lose pin 15% of 200 on average. ⁓ my gosh, I can't do this. 200 divided by nope, nope, times 15% is 30 bucks. So 170 divided by 10 hours, you're working for 17 bucks an hour. Doing all that work is costing you $17 an hour. Like you're giving away $17 an hour just to be like, I saved you money. Okay, that's just silly. Also, that math is probably wrong. All right, let's move on from theory and story time to immediate execution. I've gone way over today's episode, and I just don't want you to close this video out and move on or the podcast and move on to your inbox or your to-do list without taking action. Cause what we need to do here is actively train your brain to get comfortable. with higher ticket offers. Trust me, the first time I had a room block contract, I remember seeing the very first room block contract. I remember seeing $156,000 sale. And I was like, ⁓ my gosh, ⁓ my gosh, this is a lot of money. And now I'm like, that's not enough. You will get used to it. So here's your little action rule for right now. It's probably gonna take you about 20 minutes today. ⁓ look through your business supplier portal page, whatever, with your host agency. Find that ultra luxe supplier. You know the one, the one where you're like, ooh, I wish, I wish I could book that. Maybe it's a super high-end cruise line. luxury tour operator or something to that effect. Go into your consortia and look for like luxury villas. ⁓ I know I'm with ⁓ travel leaders and I know I can go in there and like find luxury villas, tour operators, hotels. All the stuff you've been intimidated by. The one but pick out the one in particular where you think I'd love to sell them, but which stop using but I just don't feel like I'm qualified enough. I've heard that so many times too. Then I want you to go want you to go directly to their website or however you get to them via your host agency. Sign up as an agent with them because you know we have all these supplier access when you're hosted. We don't have to sign up with all of them. Sign up. Email that BDM that you see is your BDM. And then you can write an email. We're not gonna do the British accent today. Well, let's do it. A professional short note. Something like ⁓ hello, my name is Rachel, and I'm the owner of XYZ Travel. New paragraph. As we prepare for our strategy for Q3 and beyond, I am actively looking to expand my portfolio into the luxury space. And your property slash product It's a perfect fit for our target demographic. I'm really sorry if this is a terrible accent. New paragraph Could you Nope. Would you mind to share the latest digital toolkit for marketing? Your advisor training resources Schedule a webinar I love to schedule webinars with them. So I can ensure my agency is fully equipped to position your brand effectively to our clients. Yours Rachel XYZ travel. I don't know why my hands are just flopping around instead of actually typing. Then you hit send. You could also leave a voicemail to that effect and do your best British accent. I don't even know if that's like a classy British accent or like Cockney Okay, what you're doing right now is leveraging their confidence. That BDM is gonna be like, ⁓ my gosh, I could get a bonus. This person sounds serious. I'm gonna give ⁓ all the assets I can. They're going to shower you with all the marketing images, any copy that they have that's like pre written, obviously go in and do with their trainings, some insider knowledge, maybe a fam, who knows? Maybe Bed Bath and Beyond. There's time. Use all of that and then build your internal store of it in your own little like Google Drive or whatever. And then the next time a client comes to you that fits them, like you could even start actively marketing this brand. You won't feel like an outsider looking in. You'll have a direct contact at the company where you can be like, I don't know what I'm doing. I thought I was cool. I tried to sound cool in that email and I legit do not know what I'm doing. Help me. You can always just call your BDM. ⁓ but you're gonna have the toolkits, hopefully some marketing assets, all the training stuff that they provide. They provide so much free training, folks. And you can look at that $50,000 tri price track price trag. I don't know why I can't talk, and say, this is the absolute best experience for you, and here's how we are going to secure it. Stop playing small. Stop shopping with your own wallet. Start owning your authority. Okay. That was day 174. It went over. I had so much fun with my terrible accent. ⁓ and I do I hope I don't offend anybody with that accent. It's my attempt. You can do an accent of me. It's Missouri. I got a Missouri accent. Hey everybody. All right. Have a wonderful day and I will see you tomorrow.