Australasian Corporate Accommodation (ACA) began when founder Kay Barney began offering fully furnished, executive quality accommodation for corporate clients in Sydney and Melbourne.
Australasian Corporate Accommodation is now a successful outsourcing services company with a turn over well in excess of $1 million and more than 200 clients.
- Where did the idea for the company come from?
The idea for Corporate Housing came from my own personal experience of relocating in 1999. My husband and I had moved to Melbourne so that he could take up a more senior role within the company he was working for. His company were providing temporary accommodation in a Serviced Apartment whilst we sourced a rental property. At the time I had a toddler, and the apartment really didn’t meet our needs at all. It was tiny, not particularly well located, and expensive!
- What gave you the courage to make the move into your own business?
I come from a family of small business owners, so I was quite comfortable with the idea of running a business. I could see that it would work well for me as a Mum with young children at home. Even though I was only 26 when the business first started I had already worked in various roles in other small businesses, so I would say that I had good, general skills in the key areas of Sales & Marketing and Accounts which was extremely beneficial as I had the skills to do everything myself in that first year.
- What has been the biggest hurdle?
The early years were tougher than I expected. Our second child came along in 2000, only one year after Corporate Housing began, and when it was in a really key growth phase. At that time I was still very much “hands on”, so managing a two year old son and a newborn daughter, along with the business, was my most difficult time.
- What has been your greatest professional challenge?
Selling a new concept within the very fairly traditional market place of corporate accommodation was a massive challenge. My target market of corporate clients were very well versed and comfortable with the idea of Hotels and Serviced Apartments but most had never heard of the model that Corporate Housing provides.
I believed in the Corporate Housing model right from the start and knew that the benefits to the customer in terms of quality and cost savings were clear. I was confident that the model would work in Australia, even though no-one had tried it here at that time. Part of the challenge for me, and the part that I most enjoyed, was selling that vision to potential customers that had never considered a service like Corporate Housing.
- Who are your mentors, inspirational books or people?
When I was starting off I read everything that I could get my hands on ! There are so many wonderful entrepreneurs in Australia to look up to. One of my favourite books at the time was “The E-Myth” by Michael Gerber. This booked changed the way that I viewed my business and really helped me to create a vision for it.
- How do you stay on top of it all and focused?
I’ve always been someone who is quite naturally focused, as in I’ve always been a bit “all or nothing”. From a business perspective that was a great attribute to have particularly in the early years when I was juggling many different roles within the organisation. When there are a lot of conflicting demands you do need to prioritise, but also, be willing and able to delegate. Many small business owners by nature find it difficult to let go (me included) – but it does help to realise early on that if you want to grow, then you simply can’t do everything yourself. Hire the best people you can, train them well, then allow them to get on with their job.
- What is your top strategy for success?
Prioritise your time, but always remember that the needs of the customer come before anything. Perhaps more so now than ever, customers expect an almost instantaneous response. In our business that may be a sales enquiry or it may be a leaking shower in an apartment. Either one requires our immediate attention.
- Has your strategy changed with the growing online business?
Yes, absolutely. The expectations of our corporate client base have demanded that we keep up to date with the latest online technology. We utilise industry leading software from the USA where the Corporate Housing Industry is very large. Fortunately that means the software is constantly being updated to reflect the latest technology available. On a smaller scale, for example, we are currently developing an App which will allow our in-house customers to communicate with us much more quickly and effectively.
- Is there any advice you’d like to offer?
For anyone thinking of starting a small business, read a book like The E-Myth first. One of Gerber’s key points which resonated with me was that your business model must have a sound financial basis that is capable of growth that is not dependant on “you”, and your finite ability to produce a product or service. He also explains very well that doing something you love, even doing in really well, will not necessarily translate into a successful business.
Secondly, aim to treat every customer, even the smallest customer, as though they were your largest. Great customer service is as important today as it has ever been.
To contact Kay Barney, please phone (03) 9329 0499. You can visit her website at www.corphousing.com.au. This article was originally published 17 May 2006. Updated: 1 July 2013.
