Q&A SERIES // Planit Bnb
Nick Bolton, co-founder of Planit bnb
We were lucky enough to catch up with Nick Bolton to chat about his business; Planit Bnb. Nick and his co-founders, Matthew Harris, Pete Fullerton-Smith, launched in 2018. The company is a tourism tech platform and publishing business, which connects and rewards accommodation hosts by booking their guests travel experiences.
How did PlanitBnb come about?
I first came to Queenstown to work for the travel department of a local hostel chain. Whilst working there, I discovered that there was a common theme of travellers staying in Airbnb’s that were looking for a place to book their activities. From there, the idea and journey behind Planit Bnb began. Since then, we have moved from just Airbnb’s and holiday homes to hotels, motels and hostels with a lot of exciting new features to come in the future. It has been two years of a lot of ups, downs and changes to the model but worth every minute.
As an entrepreneur, what are the biggest lessons you’ve learnt so far?
Learn from your failures. I was extremely naive to think that the approach we used at the beginning was the finished product. It really wasn’t! In order to get where you need to be you need to fail. Just don’t be discouraged by failure, use it as a learning tool.
Looking after your clients/customers. Businesses don’t work without a solid customer base and as a tourism business, it wouldn’t work without the support of operating partners. I think coming into an already saturated market is hard for any new business. So to have the support of businesses around you is extremely important.
Spending your money wisely. It’s very easy to go down a rabbit hole of expenditures in any startup. If you’re looking to bring on anyone, whether its marketing or website design. Do your research on them and only use people who want to help and grow your business. Not someone who is only after a payday.
What entrepreneurial tricks have you discovered to keep you focused and productive in your day-to-day busy schedule?
I’m a big fan of podcasts if I’m honest. Put your headphones in and stay clear of distractions!
What part of the Queenstown Lakes do you live in?
I live in Queenstown.
What do you love about this region?
I’m from a big city originally and I could never imagine living anywhere but. Although Queenstown really blindsided me when I moved here. I love how there is always something to do and how varied it is depending on the time of year. I feel people get complacent and caught up with the day-to-day. I often find myself driving home on a sunny day thinking wow, this is such a beautiful place and I feel extremely lucky to live here.
What key activities would you recommend entrepreneurs to invest their time in?
I think the main thing I would say is to take the time to speak to people. You will be pleasantly surprised by how others want to help you and give you advice. There is always something to learn and who better to speak to than those who have been there and done it.
What’s the first thing you do when you wakeup in the morning?
COFFEE!! We invested in a great coffee machine for my birthday and it has become an extended member of the family ever since.
Can you share with us your company’s current big/or small goal?
Short term: test our model and recruit the right team to expand nationally. Long term: international expansion and keep learning!
Who has been your greatest inspiration?
Myself in 5 years time
How has COVID-19 effected your business?
As a tourism business, COVID-19 has changed our business considerably. A lot of our customer base were from overseas. So we have had to change our sales approach to the domestic market. Although one thing I can take away from COVID is that has displayed our flaws under a microscope to which we have had to address. As an early-stage business, it’s better to get those things sorted now rather than them cause problems further down the line.
What is the single best piece of advice you would give to someone just starting out on their entrepreneurial journey?
Research your market, look after your clients/customers and don’t be afraid to ask for help.
Favourite meeting space in the Queenstown Lakes?
Joes Garage 5 mile is our usual
7 quickfire questions
Name the last film you watched
Been watching a lot of series recently, currently on ‘The Fall’.
If you could travel anywhere in the world for 24 hours where would you go?
Probably back to Manchester to see my friends and family.
Cats or dogs?
I have a dog but I’d like a cat as well. Only because it would annoy my dog so much.
Name a food you could eat for a week straight?
Burgers!
Typing or pen and paper?
Typing, I always leave my notebook where I can’t find it.
If you could have dinner with anyone who ever walked the earth, who would it be?
Joe Rogan
Being an entrepreneur is…
…worth every minute.
