PENNY SPENCER

MEASURING success isn’t clear cut, but building a $40 million business that has cleaned up several consecutive NTIA Awards has got to be up there. However, when you consider that Penny Spencer’s foray into the industry began as a 19-yearold junior PA, the journey is as intriguing as the achievement. Speaking to travelbulletin at the trendy Spencer Travel head office in Surry Hills, Spencer is well voiced, sharply dressed, and clearly the central cog in the seemingly welloiled business. But the gloss and glamour hasn’t come easy. First stepping her foot in the door as a volunteer, Spencer folded brochures for six months before landing a role as a receptionist and working her way up the ranks as a tour guide for Newmans Tours. But it was a role with World Travel that Spencer first discovered her knack for corporate consulting and developed a hunger to pitch for big business. After putting in the hard yards for several years, Spencer gave in to the pull to go on her own and in 1998 sold off her Telstra shares to get Spencer Travel off the ground. “The industry was very male dominated and I wanted to take a different approach. As a female, I also wanted to make a real difference and have an impact on the industry,” she says. Spencer recalls the early days as a “humbling” experience which involved enough cold calls to make any seasoned sales rep wince. With just one other consultant and a part time book-keeper, the tiny office had just

I used to say I’d be happy when I get to $10m turnover, then I got there and figured I would try and double it, and then the same happened again 20m’ when I hit $

one computer, one email account and a fax machine. There was no back office, no tech support and Spencer filled her days typing itineraries and handing out cards to anyone who would listen. But it didn’t take long for new clients to come on board and within a year the business was pushing well above $1 million in corporate business. Just over 16 years later, the firm now has 60 staff on its books across five offices and most corporate consultants write off around $3 million each year. As Spencer reminisces about the past in her sunny top floor office, she says her competitive streak and driven personality are the catalysts for her success. “I used to say I’ll be happy when I get to $10m turnover, then I got there and figured I would try and double it, and then the same thing happened again when I hit $20m. “I’ve got the passion to follow the next challenge and the hunger to grow the business,” she says. Describing herself as “obsessively goals driven”, Spencer says she’s always been hungry for an adventure such as when she drove across the Nullarbor Plain in a Honda Civic at age 17 in the hope of satisfying her curiosity for an adventure. But when it comes to business, she says strategy is king and taking a “helicopter view” of the company has allowed her to synergise the business. But she says letting go of control was also instrumental to the firm’s long term success. A defining moment for Spencer was when she was still opening the mail when her time was valued at around $300 per hour. “I remember thinking this is ridiculous, what am I doing? I’m a control freak and I’m the first to admit it but if you’re a CEO you can’t do everything... you’ve got to run the show,” she recalls. Motherhood was another stepping stone in Spencer’s career that softened her approach to business, albeit slightly. Scaling back to four days per week to help look after her two children, now aged 12 and 7, Spencer admits that “mother guilt” is inevitable for women in high profile positions. But the trade off, she says, is being an inspirational role model for her children who push their chests out with pride every time she is on radio or TV. Failing that, planning ahead helps to iron out the creases at home, and having a hands-on husband always helps, Spencer quips. On the role of women in travel, Spencer says there is still a “gaping gender divide” in the male-dominated travel industry, but she also believes it’s up to females to put their hands up if they have their sights on executive positions. Spencer is the first to admit that it can be a challenge for women to progress at the same level as men when maternity leave is taken into account, but she stands firm in her belief that women need to step up. “It’s tough to have a big job and manage home life, but there is flexibility and opportunity for women in travel. Motherhood does introduce another element of difficulty but it is possible to have a career and home life. But you’ve got to want it.” Looking forward, Spencer is backing a big year for the company with new partnerships and another agency based in Sydney. She’s also got her sights on another NTIA award to complement the already packed shelf of business trophies and is keen to see the $40m figure edge slightly higher. But while her goals remain largely the same year after year, one thing remains constant: “I am hungry for business, but I honestly believe the key to success is to respect others and treat everyone as you wish to be treated. You have to have values in business.”