We’re celebrating 21 amazing years of SK Chase!
SK Chase was founded back in 2003 when Stephanie Wilson and Kaye Taylor had desire to start their own business and an idea that would transform luxury hotels’ gift voucher sales, creating a new revenue stream, whilst improving efficiency, making things much easier for hotel teams.
Steph is the CEO of SK Chase, while Kaye stepped back from daily operations in 2019, but remains a co-owner of the company and continues to serve on the board.
From gift voucher pioneer to the company it is today working with over 650 of the most luxurious and loveliest hotels worldwide, we look back (and forward) in an interview with Steph, where we ask 21 questions.
1. Twenty-one years! How does it feel?
On one hand quite surprising, because it doesn’t feel that long to me. But it does feel like a significant milestone and I’m really grateful that we’ve got to 21 years LOL.
2. What advice would you give to a 21 years younger Steph, knowing what you know now?
Not just in respect of starting the business, but in general, I would say trust yourself, trust your intuition and let that be your guide.
3. How would you describe SK Chase’s culture today?
SK Chase feels really vibrant, and I think we’ve got a really lovely culture.. and lovely is not one of my favourite words! But when I think about our team and all that they bring, I get a sense of warmth and strength – the team feels together and strong.
4. What makes SK Chase unique?
In terms of what makes SK Chase different, it’s the connection that we have with our clients and that’s conveyed through our service. The technology is great – it’s robust and reliable. But what currently sets us apart is our care, love and connection with our clients.. and with each other.
5. How do you think the market for gift vouchers has changed over the last two decades?
It’s so bizarre to think back to 21 years ago when we really had to convince hotels that it was a good idea! There were varying degrees of that – some hotels were selling gift vouchers offline, but it wasn’t smooth and was perceived as a hassle for the hotel team. And I would say that that changed pretty quickly in the first few years of us being around. And now it is very rare that we would speak to a venue that doesn’t already sell vouchers online – it is absolutely expected nowadays.
The move to digital vouchers has changed considerably. SK Chase has always had digital vouchers available as part of our service. But in the early days it almost seemed ridiculous that people wanted to receive an e-voucher; in 2003 it was around 3% for digital and now it’s 66%!
The supplier marketplace has changed too. In the early days, we were the first to market and enjoyed the spoils of that for the first 6-7 years. Competition has grown and grown since then!
6. What have been the key milestones in the company’s history?
Firstly, the early recognition. We won a Scottish Enterprise Award when we first came to market. Whilst Kaye and I both felt completely energised by what we were doing and we were 100% committed, there was something about getting that external validation and financial support that really helped us propel us.
Securing Gleneagles as a client was another. It really helped in getting other hotels to know who we were and what we did. That was one of the best accolades we could get in the UK market – working with one of the best hotels.
And not so much a milestone but there have been times where we have ‘woke up’ to something that was happening and that we weren’t aware of that could have caused our downfall. In these moments, whilst it feels like you are in hell, my experience is those feelings are very temporary and then what happens as you come through it, you start to see things differently – see solutions, see the next step and that’s exhilarating. It’s where the key learnings really come from that help you build your business even stronger. It’s what really engages me in the business – the challenges and getting through those and coming out stronger at the other side.
Quick fire questions..
7. Best gift?
A painting by Kaye
8. Monetary or experience?
Experience gift voucher
9. Night in or out?
Night in
10. Go to Karaoke song?
Nine to five
11. Last Googled?
The Summer Sessions
12. Reading?
The Seven Husbands of Evelyn Hugo
13. Favourite song
Let it Be, by The Beatles
14. Happiness is?
Peace
15. How do you balance the running a business with your personal life?
It can feel challenging at times. Sometimes I take space and really consider what the priority is today. It’s very in the moment and things are sacrificed in both business and personal life. There may be certain times when I have been planning to do something – something important that ‘can’t’ be missed. But if I deeply know that I need to take some space, or for example I need to be with my daughter, or whatever that is, I trust that and compromise on the other.
16. What has been the most rewarding part of leading this company?
I think it would have to be something around potential. Seeing potential, nurturing it and it being realised. It speaks to lots of different scenarios.
The first that comes to mind is people – the team. It’s about recognising something in them that they maybe haven’t quite realised for themselves or haven’t articulated that that’s what they want to do yet. And then letting them develop that themselves, get the experience, but also be there as guide or support if they need anything and then seeing them really flourish. And that happens all the time in SK Chase.
And I recognise that in myself as well. I definitely wouldn’t have said in the past that I would relish being the sole leader because Kaye and I were so tight as a partnership. And it did have moments of feeling really daunting and overwhelming. But I saw my own potential I guess and knew I was capable and through the challenges I saw that I was doing it and I loved it.
Of course, there is the more commercial piece there too. I love scrutinising a client’s performance and their offerings and making recommendations, seeing it coming to fruition and seeing the direct impact on sales. I love delivering that as a service to our clients – unrealised potential is really exciting to me.
The same is true for SK Chase commercially. I can see a few years down the line where our revenue can go, where our team can go, what I would love us to look like, that we have everything we need and are capable of getting there.
17. What’s the best piece of advice you’ve ever received? Or maybe it was already there..
‘Trust your gut!’ is advice I’ve been given over the years and I’m not sure I always really knew what it meant. But that all changed for me when I participated in the One Thought programme and experienced some deep shifts and realisations that were transformational for me, taking my experience with our business (and everything in life really!) on a completely different trajectory.
Reflecting back, I can see how my intuition has always been there guiding me, even as a child, but what I hadn’t realised until doing the programme was just how accessible it was for me and everyone. Of course, the metrics, data, output pieces are important when you’re operating a business, but they only make up part of the picture. I now completely trust my ‘gut’ or intuition as I refer to it, listening to that above everything else and letting it be my guide.
18. If you weren’t running SK Chase, what do you think you would be doing?
I feel like I would be involved in community-based work. I am lightly involved in some community stuff where I live and there is something intriguing to me about community and our sense of belonging. I’d love to be able to explore using this inner knowing in the face of some of our bigger social challenges. If our leaders were coming from a different place when making decisions about the difficult challenges we’re facing in today’s society, could we see better results that actually make us stronger and build resilience?
19. If you could build your business again is there anything you’d do differently?
There are some conversations, if I could replay knowing what I know now, I would do them with more care. But I also recognise that me and Kaye have always done our absolute best with what we’ve got at the time. With hindsight and being connected now to my intuition, I would be guided by that. But in saying that I don’t think I would do any thing differently. Everything – the good, the bad and the ugly has all happened in its time. And it’s lead us to the next step, and the next step. It’s the nature of life and I am really grateful for all those lessons along the way.
20. What are your plans for the company’s future? Any exciting projects on the horizon?
Yes! SK Chase is ready to offer a more complete solution, helping our clients reach their commercial potential.
Several clients already using our platform to sell retails items that they sell in-house. And with the launch of the latest version of our software, we are making that easier. We are also introducing two new ‘elements’: guest add-on offerings and ticketing. What we are doing is making the whole process hassle free for the hotel team and making it a seamless shopping experience for guests or anyone wishing to purchase something for guests coming to stay.
We know that our clients are receptive to making this easier. It’s interesting as it’s quite similar to the stories that we heard when we first entered the marketplace 21 years ago. Hotels are delivering this as part of their service, but it’s a hassle, it’s messy, it’s not really being tracked and it’s not marketed in anyway, so there is a real opportunity to help with that. And the beauty is, our clients can have everything all in one place.
And as our skills and knowledge grow in these areas, we can pull collective data, draw insights and make recommendations. So much in the way that we are absolutely the experts in hospitality gift experiences, we can become the experts in these areas too, in the hospitality sector.
Event tickets
Concerts, workshops, wine tastings & ..
Retails items
Crockery, bathrobes, spa products & ..
Add-on offerings
Wine, flowers, chocolates & ..
21. Can you sum up the last 21 years in 3 words?
Unpredictable, fulfilling and challenging.