Trident Holiday Homes was set up in 1986 with eight properties in Dublin. Today it has over 1,000 nationwide. The company employs 36 people and is Ireland's largest operator of self-catering accommodation and holiday homes.
What is special about your business?
We have a diverse range of great properties in the best locations in Ireland. Whether you want a little thatched cottage for two in Donegal, a large contemporary property for 16 in Carlingford Lough or a cluster of holiday homes together in Dunmore East, we have it. We also manage most of the group schemes we market. This means we can control quality and pricing, and really react to customer demand.
What sets you apart in your sector?
How we look after our customers. We have knowledgeable, energetic call centre staff who are very familiar with local tourist attractions and can help customers choose the right property for their holiday. Being in business nearly 30 years has given us huge insight into what makes our customers tick.
What has been your biggest challenge?
Keeping property owners on board when rental revenues plummeted by 40 per cent, and dealing with the changes in how we sell our product. It is nearly all digital communication now and it is a challenge to get the right balance between traditional and digital marketing methods.
What has been your biggest success?
Staying in business for 28 years! The support and loyalty of the people we work with has been a huge factor in our success.
You cannot run a business on your own – it is a real team effort. In 2007, Trident successfully merged with Discovery Holidays. Its founder, James Flynn, is now co-owner and has brought an additional level of expertise to the business.
What key piece of advice would you give to someone starting a business?
Start small, but think big and work hard. Surround yourself with people who have the skills you don't have and listen to them. Have a passion for what you are doing. You will not survive otherwise.
Maintain a work/life balance. Think things through when walking the beach with your dog!
Who do you admire most in business and why?
Harry Crosbie. I remember when he built the Point (now the O2), everyone thought he was mad. But he did so much to regenerate parts of Dublin long before the big speculators got involved. I really admire all entrepreneurs who have maintained their businesses through hard work and passion.
What two things could the Government do to help SMEs in the current environment?
Reduce the cost of employment and, very importantly for our sector, offer tax relief on utility costs and other charges applied to holiday homes.
In your experience, are the banks lending to SMEs currently?
We haven't needed to borrow as we are profitable and growing. That said, I would not like to be trying to borrow from the banks right now.
What's the biggest mistake you've made in business?
I am not sure if it was a mistake, more a missed opportunity 18 years ago when I didn't expand on a global scale when we were the only big player in the holiday home rental sector in Ireland.
If I had realised then how fast the internet was going to penetrate the holiday rental market I might have done so.
What is the most frustrating part of running a small business?
Juggling lots of balls and not having enough time to do everything – even to delegate!
What's your business worth and would you sell it?
I am at a stage in my life where time is worth a lot more to me than money although I am still working all the hours. My business partner is much younger so you never know what might happen. Or if the right bidder came by . . .
In conversation with Olive Keogh
