A management restructure increased our revenue by 30 per cent

Overview

The management team was re-organised in December 2009 after the founder and non-executive chairman Gerry Pack retired.  Steve Lawrence was appointed as Chairman, I was appointed CEO.
A year on we've experienced a 30% growth in revenue despite the volcano crisis earlier in the year.

The challenge

Following its unbroken record of growth since its inception 27 years ago, Holiday Extras Holdings Ltd decided to restructure its business to support a target of 100% increase in earnings by 2015.

The business also wanted to make it easier for customers to buy more from HolidayExtras.com more often and to continue to take market share from competitors as well as attract new converts to pre-paid parking and all our other services.  For HolidayExtras.com that starts with believing we can make holidays hassle free, investing in our customer technology strategy and making sure we have the right products at the right price.  My mission is to use ideas - make projects happen and make them resilient.

The solution

The restructure was designed to capitalise on current growth opportunities across the four key areas of the HolidayExtras.com operations; holiday add-ons, airport parking, short-breaks and European operations.  
Each newly created company is now overseen by its own CEO promoted from within the business and benefits from enhanced focus on its own business targets, investment programme and vision for future growth.  The four areas became separate companies in December 2009 and created new career and employment opportunities for existing staff and new recruits.

Key lesson

Start early and act like a start up even if you are an established business. Have a plan A; make sure you have a plan B and C - and prepare bit of a plan D - even if it is just an idea.
If you've got a good idea 'run with it' make it happen as quickly as you can.  Too many things in business seem to take six months.

Top tip

Use experts for advice and guidance, read the books and don't reinvent the wheel.

Focus on your loyal and profitable customers and always make sure your team are happy.

Find out more about HolidayExtras.com

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