Have fun and make money!

Peter Stephens: I think that you make your own luck - I made mine by doing something I really love!

– Like several other entrepreneurs, I never went to university, tells Peter. Instead, I started working with something I really enjoyed doing: journalism.

But after 10 years in the profession, Peter knew that it wasn’t a financially rewarding career. He moved into PR/Marketing and started working for some of the largest travel agencies in the country.

– After a couple of years I was contacted by Vingresor to do their marketing in the UK where business was slow to take off. We spent a year turning it around, but in the end, the head office in Stockholm decided to shut down the UK operations.

Peter and two of his former colleagues decided to try out their own travel business.

– We figured things out as we went along, says Peter. We decided to become the Mallorca specialist, focusing on the upper market. But by the time we started, it was too late to put together a brochure.

The team started to sell flights as a way to make money for the brochure. And that was how DialAFlight was born, a company that today organizes bespoke travel for more than 450,000 people every year.

– The initial plan was to get rid of DialAFlight. But when some of the major tour operators started contacting us for fl ights, we realized that the concept was a great way to make money and get good data on our competition.

Since then, they have tried lots of different ideas – some successful, others less so.

– We had our ski program which didn’t go very well and we wanted to enter the chalet market for quite some time but couldn’t get in until a
competitor went bust.

Acquiring competitors’ businesses turned out to be a successful way to grow.

– Having entered the chalet market – taking over our former competitor’s mailing list and some of their contracts and staff – we went on to re-launch the business as a pure upmarket concept. We slimmed down the client base to ensure premium service and kept only the best chalets in the top resorts. Later on we also expanded into the the golf segment by acquiring three separate golf travel companies.

Despite the Group’s success, building a large business was never the goal.

– Trying out the travel business was a fun way to be able to pay the mortgage, says Peter. We never planned to grow a big company, but focused on keeping our staff motivated. We truly believed – and still do – that if you and your employees are having fun, the money will come!

Annual sales competitions, company trips and celebrations are ways to keep motivation high.

– Each year we take our 100 best sales people on a trip. Our employees are the most well travelled and the best paid in the industry. As a result· our staff has been with us forever – some for more than 25 years!

– When I mentor small companies I always tell them to do something different with their staff. Regardless of industry, you can do anything with anything to find motivation!

Offering outstanding service to the right target market are other critical success factors.

– Our clients have got money to spend and are willing to spend it as long as they get great service. Taking care of them from A to Z is what counts – from answering each phone call within five seconds to solving any problems that occur, even during very challenging situations!

And Peter and his colleagues love a good challenge.

– We’ve been through 9/11, Sars, the bird flu, two gulf wars, two recessions… But while our competitors laid off half of their staff during 9/11, our sales were only down for two weeks. We reassured our employees that we had enough money to pay their salaries for a year – they felt a big sense of relief and went back to selling.

Having created their own computer system is another secret behind the company’s success.

– Our system is way ahead of any competitor’s. We write it ourselves and are always working to improve it. We’ve never let the logic of the computer guys rule, but base it on what we want it to be able to do.

The system makes crisis management much easier.

– Towards the end of the volcano crisis in 2010 we were moving around 15,000 people all over the world, keeping them updated of any changes and rebooking flights and hotels. By maintaining a high service level – not overcharging customers or keeping them waiting on the phone for hours – we ended up getting a lot of extra business from recommendations.

A positive company culture is also important.

– I learned from my time at Vingresor and created a culture influenced by Swedish management style: our organization is flat, I’ve hired the best people and let them grow by delegating responsibility.

But the road to success hasn’t always been easy

– We started a business that was totally different from anything we had done before, so of course there were worries initially.

– Dealing with licensing, regulations and authorities was the most  difficult thing for a number of years. And before we had computers we never really knew where we were until the end of the year; it was like being hand-cuffed to a ghost!

And there have been mistakes on the way.

– Everybody makes mistakes – we’ve done millions! – but the important thing is to learn from them. It’s all about trying, testing and improving. If you’re not making mistakes, you’re not trying hard enough!

Peter is sure that freedom is the main reason why people start their own businesses.

– Every entrepreneur wants to be in charge of his or her own destiny. But to make it you need to work hard and have boundless energy and enthusiasm. We worked seven days a week for a few years and always believed in what we did.

Peter is proud to have made the Sunday Times top 250 list every year for the past 11 years. But to him it is even more important that they have created a unique company that provides a great way of life for many people.

– We’ve shown that you can run a great company and look after the people who work for you!

Peter’s advice to anybody who wants to start their own business:

– Just do it! And don’t worry if it doesn’t work – learn from your mistakes and do it again!

Peter's advice to the business owner

- Think about the worst that could happen, then hedge your bets

- Believe in what you do, work hard and have a huge amount of enthusiasm

- Keep your employees motivated – make it fun and different

- Always believe that the glass is half full – otherwise you’ll never make it!

The Lotus Group offers bespoke travel arrangements, tailor made golf trips, luxury catered chalets, conferences and events. Each year, 10% of the Group’s profits are donated to their charity, Make my Day Better. Read more at www.dialaflight.com