Demetrios Zoppos, COO OneFineStay. Prior to founding onefinestay in 2009, Demetrios was founding CEO of GradFutures, a web community site. Previously he was co-founder, Operations Director and Managing Director of GF‑X, the leading trading exchange for airfreight capacity, which raised £50m, and was acquired by Descartes. Demetrios was a consultant at McKinsey & Co. where he specialised in e-commerce, and was an associate at the World Bank. He has an MA with first class honours in Economics from Robinson College, Cambridge, and an MPA from Harvard Kennedy School, where he was a Fulbright Scholar. Demetrios took the stage at The Insights Conference and analysed his views on the innovation cycles that technology-enabled companies go through, going over historical and current examples of how industries have been disrupted through these waves of technology innovation and adoption.

1. The
Cycles
of
Innova0on
–
Demetrios
Zoppos
Co-­‐Founder
&
COO
8
September
2013

2. inven0on
vs.
innova0on
invent
(v.)
• "find,
discover"
• "make
up,
think
up"
• "produce
by
original
thought"
innovate
(v.)
• "introduce
as
new"
• "to
renew,
restore,
to
change
"
• "make
changes
in
something
established"

3. 0meline
of
selected
innova0ons
The
CoBon
Gin
RefrigeraFon
<1000
1000-­‐1500
1500-­‐1800
1900s
>2000
Penicillin
Telephone
Fiat
money
Compass
The
Internet
Prin0ng
Lightbulb
Gunpowder

4. the
biggest
innova0on
of
all?
• Search/informaFon
• eCommerce
• Internet
telephony
• Social
Networks
• Internet
video

5. collabora0ve
consump0on:
a
meta-­‐innova0on
Collabora0ve
consump0on
(n.)
• a
class
of
economic
arrangements
in
which
parFcipants
share
access
to
products
or
services,
rather
than
having
individual
ownership
• oJen
enabled
by
technology
and
peer
communiFes

6. collabora0ve
consump0on:
examples
Tasks
Fashion
Food
Leisure
Money
Books
Transport
Travel

8. =
onefinestay
on
one
fine
page
complete
soluFon
for
selected
urban
owner-­‐occupiers
to
earn
extra
hassle-­‐
free
income
enabled
by
a
unique
service
model
using
proprietary
mobile
technology
which
coordinates
distributed
contract
staff
exclusive
short-­‐stay
inventory
for
discerning
travellers
who
prefer
this
to
bouFque
hotel
a
curated,
service-­‐
enabled
marketplace
for
upscale
city
accommoda0on
• Founded
in
London
in
2009
by
experienced
entrepreneurs
• $3bn
porSolio
of
homes:
1,000+
London
300+
in
New
York
• Planning
roll
out
in
Paris,
Los
Angeles
and
other
ciFes

9. hosts
earn
hassle-­‐free
income
Independent
professionals
Affluent
young
families
Transi0oning
mature
couples
Leisurely
re0rees
onefinestay
delivers
onefinestay
gets
• Turn-­‐key
soluFon
• Hassle-­‐free
income
• All-­‐inclusive
nightly
rate
• Flexibility
and
control
• City-­‐centre
inventory
• >4
weeks
availability
p/a
• Exclusivity
• No
principal
risk

10. provision
with
hotel
quality
ameniFes
and
linens
meet
and
greet
guests
at
the
home
and
give
an
iPhone
with
our
app
&
info
about
the
local
area
t
u
contract
teams
prepare
the
home
for
guests
t
u
Availability
6
weeks+
/
year
Loca0on
Desirable
locaFons
Quality
Nicely
appointed
Style
Characterful
&
unique
Specifica0on
Modern
ameniFes
Cura0on
we
accept
only
10%
of
homes
Control
and
standardise
the
guest
experience
(linens,
towels,
meet
&
greet)
guests
enjoy
a
dis0nc0ve
experience
+

11. the
homes
are
stunning
the
press
loves
it
the
guests
tell
their
friends
-­‐100
-­‐80
-­‐60
-­‐40
-­‐20
0
+20
+40
+60
+80
+100
Mar-­‐11
Jun-­‐11
Sep-­‐11
Dec-­‐11
Mar-­‐12
NPS
+70
Hyde
Park
London
Tribeca
New
York
“This is simply one of the best travel experiences
we have ever had as a family… It is a credit to
you as a company to deliver all you claim, and in
our case the level of accommodation and customer
care exceeded all of our expectation”
Stephen,
2
November
2012

12. growth
has
been
excep0onal
0
200
400
600
800
1000
Jun
10
Jun
11
Jun
12
Total
homes
0
100
-­‐6
mo.
Launch
+6
mo.
+12
mo.
LON
NY
-­‐100
-­‐80
-­‐60
-­‐40
-­‐20
0
+20
+40
+60
+80
+100
May-­‐11
Nov-­‐11
May-­‐12
Nov-­‐12
NPS
$0m
$10m
$20m
$30m
$40m
$50m
2010
2011
2012
2013
Bookings
scalable
YoY
growth
of
3.2x
year
to
date,
on
a
top
line
bookings
run
rate
of
$35m
replicable
NY
launched
on
Fme,
under
budget,
and
is
growing
>2x
faster
than
London
popular
Consistent
+70
NPS
scores
and
25-­‐30%
repeat
rates
within
12
months
viral
>60%
of
host
growth
is
referrals
Average
home
value
$2.5m

13. onefinestay
innova0on:
people
obsessive
about
hiring
• c.150
hires
to
>5000+
screened
• High
hire
raFos
for
HQ
inves0ng
in
service
culture
• Staff
engagement
programme
• Service
acculturaFon/rotaFons
• High
volume
service
recruitment
developing
leaders
• Management
training
• Performance
standards
• Coaching
and
feedback
toolkit

14. onefinestay
innova0on:
process
customer
journey
mapping
• Key
touch
points
analysis
• SaFsfacFon
research
best
prac0ce
sharing
• Core
process
documentaFon
• Best
in
class
central
services
brand
standards
• Home
and
service
standards
• City
rollout
framework

15. onefinestay
innova0on:
product

16. What
have
I
learnt
about
innova0on?
• Screwing
up
is
good
• Need
breeds
innovaFon
• It’s
not
just
about
the
idea…
• It’s
a
labour
of
love
• Longer
term
impact
of
innovaFon
is
deeper

17. Closing
thoughts
• Don’t
listen
to
(all)
advice
• Work
hard
• Surround
yourself
with
great
people
• Fear
nothing

18. www.onefinestay.com
Become
a
host
Visit
our
website
www.onefinestay.com/hosts
Email
me
demetrios@onefinestay.com
Follow
us
@onefinestay
Demetrios
Zoppos
Co-­‐Founder
&
COO
Come
and
stay
quote
FRIENDS
&
FAMILY
for
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