Management Tip of the Day: Decide If Travel Is Really Worth It

Are you having trouble viewing this email? If so, click here to see it in a web browser. HOME   |   TIPS   |   BLOGS   |   THE MAGAZINE   |   BOOKS   |   STORE RSS   |   Mobile SEPTEMBER 10, 2012 Decide If Travel Is Really Worth It Do you often need to get on a plane to go to a meeting? Travel consumes a lot of time, and you shouldn't show up in person just because that's what you've always done. Here's how to assess the real value of travel: Understand the true cost. The full cost of your trip isn't limited to airfare, hotel, and meals. Consider the hours spent getting to the airport, waiting in the terminal, and returning home. Don't forget to factor in the opportunity costs — the value you could have created if you had stayed put. Calculate the ROI. Compare the value produced by your trip to its actual cost. Is there a net gain or loss? Consider other options. If there's a net loss or insignificant gain, ask whether you have viable alternatives. Can the meeting be handled by conference call? If so, cancel the trip. Today's Management Tip was adapted from the Harvard ManageMentor Online Module: Time Management. Buy the course to apply tools and techniques for managing your time » Share Today's Tip: FEATURED PRODUCT Better Decision Making Collection: How to Make the Right Choice Special Collection Why do smart and experienced managers keep believing they have made the right choice, even when negative results are staring them in the face? This specially-priced collection will help people at all levels understand the fundamental practices of effective decision making and negotiation skills so they can make better choices in both their professional and personal lives. ADVERTISEMENT Follow the Tip: PREVIOUS TIPS Make Your Big Idea Happen Say No to Extra Work Build a Better Innovation Team Make a Critical Trade-Off Stop Checking Up on Your Employees Get Clear Direction from a Boss Who Is Vague Recognize Employees Who Step Up When Starting a Company, Get Your Values Right Ease Your Employees Into Change Don't Pursue a Doomed Idea All Previous Tips BEST SELLERS HBR's 10 Must Reads: The Essentials HBR's Must Reads Library Set Guide to Persuasive Presentations Guide to Better Business Writing Guide to Getting the Right Work Done Introducing HBR's Morning Advantage The Harvard Business Review Morning Advantage delivers the latest business ideas from beyond HBR.org directly to your inbox every morning — and it is free! Sign up today >> UNSUBSCRIBE   |   UPDATE YOUR PROFILE   |   MORE EMAIL NEWSLETTERS   |   PRIVACY POLICY Was this email forwarded to you? If so, sign up to start receiving your own copy. ABOUT THIS MAILING LIST You have received this message because you subscribed to the "Management Tip of the Day" email newsletter from Harvard Business Review. If at any point you wish to remove yourself from this list, change your email address, or sign up for other email newsletters and alerts, please visit the Harvard Business Review Email Newsletter Preference Center. OPT OUT If you do not wish to receive any email messages from Harvard Business Review, click here. ADVERTISE WITH HBR This enewsletter is read by thousands of decision makers every day. Learn more about connecting your brand with this audience. Copyright © 2012 Harvard Business School Publishing, an affiliate of Harvard Business School. All rights reserved. Harvard Business Publishing | 60 Harvard Way | Boston, MA 02163 Customer Service: 800-545-7685 (+1-617-783-7600 outside the U.S. and Canada)