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Cut back business travel

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Venture capitalist Brad Feld recently made the decision to give up business travel after spending 50 to 75% of his time on the road for nearly 25 years.

With investments in companies spread throughout the United States and across the globe, it would seem detrimental to his firm, Foundry Group, for Feld to be permanently tethered to his office in Boulder, Colorado. Not so, says Feld. “It has been transformative for me … I feel as if I’ve been doing the best work of my life. I’m as creative as I’ve ever been. I’m in the moment completely when I’m working.”

Organizations normally reduce or freeze business travel to cut costs, especially at the end of the year. It’s rare, however, that frequent travelers look at the opportunity cost of business travel, the “exhausting and dehumanizing process of trying to get from one place to another,” as Feld describes it. He replaced travel with sophisticated videoconferencing equipment.

Action item: Make a list of five reasons why you need to travel, and contrast those against five ways in which you would benefit by traveling less or not at all.

—Adapted from “The Simple Change That’s Completely Transformed How I Get Things Done,” Brad Feld, Inc. Magazine Extreme Productivity blog, www.inc.com.

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