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Flying ahead in the technology sector

How do you combine something you love with making money? For Adam Twidell, pilot, ex-RAF member and technology enthusiast, turning his talents into a successful business was a no-brainer. After selling his house in 2007 to set up PrivateFly, a website and app that searches private jets for hire, the business has taken off across the UK, Europe and across destinations all over the world.

Bdaily spoke to Adam as part of Technology Week to find out how he brought together his love of flying with his knowledge of the technology sector, after he studied Electronics at the University of Edinburgh.

“Our customers love technology, that’s why they’d come to PrivateFly as opposed to a traditional broker. Most of our customers tend to be younger, and we have customers who’ve made their money through technology, so a lot of our client base is happy using technology.”

Adam’s expertise in flying is coupled with a boundless enthusiasm for technology and his business. He said it was through knowing the private jet market like the back of his hand and learning from consumer habits that he was able to develop his business.

“We’ve taken a lot of our learning from travel trends. Ten years ago people were still scared of booking travel online. Definitely over the last five years, everybody’s mind has changed. Now, nobody I know would go to a high street travel agent to book a domestic flight, or even a European flight.”

The private jet market is a highly fragmented business, Adam explained, with 2000 private aircraft in Europe operated by around 700 companies. You can’t go to the likes of Expedia, Sky Scanner or Last Minute to compare flights on these planes, and Adam decided the gap in the market to compare prices for private jets was one he couldn’t miss out on.

“There was a huge gap in the market for private jet networks; it just didn’t exist. Online technology has completely transformed other fragmented market places, such as the financial product sector, and it hadn’t happened in private jets.

“The complexity of the private jet market made it so difficult for the customer to find prices without going through a broker. So technology was the key. Part of what we do is we integrate with the schedules of aircraft, so we know where our planes are in Europe for live pricing today and in the future.”

Much of PrivateFly’s business comes from Europe, with 1/7 of custom coming from the UK. Adam talked about his excitement around being a technology business in Britain right now.

“I think that online expertise in the UK, especially in London, is streets ahead of other European countries. In particular usability, design, and back-end developers. There is probably no other place you can go in the world to have this type of support. Comparing ourselves to the States, I think we need to follow their example. Most importantly, they have much wider WIFI areas. We’ve just got to have faster broadband available to users on whatever device, wherever they are. And that’s from a customers perspective, but it’s also for the industry as well.”

Adam still allows himself time out of the office at least once a week to fly a plane called a Citation XLS, and he said his background as a pilot, as well as his 10 year stint in the Air Force, has been great for the company’s reputation.

“I think our customers really like that the head of the company is a pilot and if they want any advice, they know that we’re headed by somebody who knows exactly what they want. So there’s a lot of advantages to keep flying, not just my enjoyment of it.”

Further to his advice on flying, Adam had some words of wisdom for aspiring entrepreneurs in the technology sector.

“It’s a question of getting involved, networking, and talking to people who’ve done similar things to you before, and made money. So many people will respond if you ask for their advice. You’ll be amazed at how much time people will give. You don’t need the money yourself, there’s money to be raised. What people do want is enthusiasm. If you’re prepared to work as hard as you possibly can to deliver something, the money will fall in.”

For more from Bdaily’s Technology Week, please go to these articles: Bdaily talks technology with Perfect Image; Bdaily talks to Care.com founder Sheila Marcelo

This was posted in Bdaily's Members' News section by Miranda Dobson .