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Travel Agency: Personal Business Plan Essay

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Updated: May 14th, 2021

Vision and Opportunity

Having graduated from the university, I would like to achieve a lot of goals that I have defined. To begin with, I want to elicit my potential and start my own business in UAE or another country if I will decide to shift my place of residence and gain new experience. More than that, I suppose that it would be extremely important for me to continue education in the sphere of business and economics in order to be able to meet competition that is constantly increasing. Finally, I would like to invent something unique related to my future business (for instance, service that would be provided only in my company).

My purpose is to become successful in the future without using some inappropriate practices such as having an unfair competition. Aside from that, I have a range of values that I am going to implement in my future work. These values include business transparency, workforce diversity (it can be important to ensure that different ethnicities are presented), and customer satisfaction. As for the latter, I would call it the primary business-related value as positive customer feedback remains the key to success. When it comes to my mission, I see it in helping other people to estrange problems that may decrease their quality of live.

Questions guiding my choices in life would look like that:

  1. What can I do to be helpful?
  2. How can this opportunity be used?
  3. Which problem is the most urgent now?

Three opportunities related to the current situation in the market are the following:

  1. There is a demand for tourist services in UAE
  2. Purchasing power of people in UAE is quite high
  3. Specialists speaking other languages besides Arabic are in-demand in UAE

Marketing and Implementation Strategy

If I decided to establish my own travel agency, I would see my mission in providing customers with high-quality services that would not be too expensive. Therefore, the compelling value that I would offer to my prospective customers and the society in general is availability of services that would help me to support those people with average income levels. As for the features allowing me to differentiate myself from other UAE students and broader populace, they include my sense of purpose, responsibility, and improved communication skills.

Risks and Mitigation

Plan checkpoints:

  1. Collection of data on opportunities and threats
  2. Shaping a successful team
  3. Distribution of responsibilities
  4. Starting a business

To ensure that these milestones are successfully attained, I will try to analyze the outcomes of my activities and look up to other business owners I know. For me, success involves implementation of other people’s experience.

External factors that may influence the performance of my company in the future include high level of competition and possible changes in preferred travel destinations. Three strategies that I will use to secure my business include constant monitoring of customer preferences, price-cutting, and regular competitive analysis.

Ethics

I will practice ethical principles both in work and daily life acting in accordance with the notions of integrity and respect for clients and family members as I believe respect to be the basis for successful relationships.

People whose advice I would like to use are my grandfather who has a virile character and one of my close friends whose sense of purpose helped him to make a successful career. As for famous people, I would look up to Larry Page whose revolutionary ideas and technical knowledge I admire.

In the end, I would summarize my PBP as “sincere person, skilled specialist, successful entrepreneur”.

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IvyPanda. 2021. "Travel Agency: Personal Business Plan." May 14, 2021. https://ivypanda.com/essays/travel-agency-personal-business-plan/.

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IvyPanda. (2021) 'Travel Agency: Personal Business Plan'. 14 May.

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