Nikolaus Thomale, CEO and serial founder of MYNE Homes, provides insights into the challenges of managing a company in a dynamic market environment - from the initial vision to pivoting the business model to achieving profitability.

Thomale emphasises the key role of an experienced CFO in the early stages of a business, especially when dealing with external influences such as inflation and interest rate rises. Thomale explains how MYNE Homes had to continuously adapt its business model in order to offer customers the optimal product in every market situation. Particularly important: team set-up and the targeted hiring of experts, leadership of fast-growing teams and the development of a feedback culture.

Highlights of the podcast:

• Why an early-stage CFO was particularly important for MYNE Homes

• Strategies for avoiding inappropriate hires during growth phases.

• The importance of focus when building a startup, especially in early stages.

• Nikolaus' approach to leadership, feedback and developing a healthy company culture in a fast-growing organisation.

• Insights into MYNE's strategy between profitability and rapid scaling in the venture-backed space.

‘Venture capital is expensive, giving up equity is expensive. It really hurts in the end.’

MYNE Homes faced challenges such as inflation, interest rate hikes and external economic factors that constantly redefined the business model. Higher interest rates made it difficult for many to afford the dream of owning a holiday home. For MYNE, they also meant higher financing costs, which is why they had to find innovative ways to remain flexible and only provide interim financing for some of the properties.

‘Flexibility is a key component of our value proposition.’

Customers are increasingly cautious and show more uncertainty when investing. MYNE therefore offers a satisfaction guarantee: customers can exchange their shares for another property within one year or sell them again after one year. In addition, MYNE enables flexible use, allowing customers to switch between owner-occupation and letting - important steps in responding to customers' uncertainties.

Technology as a growth driver

Nikolaus explains how technology plays a key role in MYNE's growth. The entire purchasing process is digitalised, from the property search to the reservation of the first stay.

At the same time, MYNE emphasises a first-class customer experience, similar to that of a 5-star boutique hotel. The service is always consistent and of the highest standard.

‘Our goal is to make the holiday property experience as seamless and luxurious as possible.’

Team building & leadership culture

Nikolaus also shares important insights on building a growing team.At MYNE, the focus is on continuous improvement - through feedback and efficient structures that allow us to react quickly to changes.

‘We constantly scrutinise our processes to improve as a team and as a company.’

From hiring specialists to creating an open feedback culture, Nikolaus gives insights into the leadership strategies that have led MYNE to success. He talks openly about difficult decisions and what the organisational chart of an effective organisation looks like.

Vision for the future & scaling

Just three years after its foundation, MYNE offers co-ownership for over 50 holiday properties in six countries.

With the latest financing round totalling EUR 40 million, the company plans to reach profitability. Nikolaus Thomale shares his vision for the future of MYNE and gives an outlook on how the company will continue to expand without losing focus on customer satisfaction and technological progress.