On the 1st of July we released an updated version of the Flight Centre story. For more information please visit: http://www.familyvillagetribe.com/
How Stone Age strategies turned a single store into a billion-dollar global corporation.
From its origins as a London-based double-decker tour outfit in 1973, Flight Centre Limited (FCL) has morphed from a single retail store into a multi-billion dollar publicly-listed global company. It revolutionised the Australian travel industry, only to have to then face conflicts such as the Gulf War, September 11, SARS, and the War On Terror – all of which wreaked havoc in travel and tourism worldwide.
FCL has also survived many other challenges: the encroachment of the internet; a disastrous internal restructure; and an unprecedented share price and profit crash following its acquisition of America’s iconic Liberty Travel, just months before the global financial crisis.
And yet each time the company, which almost doubles in size every 5 years, has come back stronger than before, relying on its Stone Age tribal structure as its platform for success.Its founders were two 23-year-old expat veterinarians from Queensland, Australia. Neither had any business experience, and the idea for the company was hatched while celebrating in a Munich beer hall . . . So how did they make it work?
Mandy Johnson and Katrina Beikoff have enjoyed full access to all the major players in FCL to bring us an insider’s view of this idiosyncratic and extraordinarily successful company. The result and this updated version is essential reading for anyone interested in the machinations of starting a successful business from the ground up and staying there.