“Lifestyle management is going to become almost as ubiquitous as the mobile phone,” states Ten Lifestyle Management’s co-founder and chief executive Alex Cheatle boldly, an idea that he somehow manages to rationalise.
“In the late 1980s and early 1990s, people thought: ‘Why would you want a mobile?’ It soon became apparent that it was bloody useful,” he says. “It is the same with lifestyle management.”
Ten is a business founded almost entirely upon the principles of excellent customer service; even the staff are rewarded on the basis of customer feedback rather than the attainment of commercial targets.
The London-headquartered company delivers personalised services to a 75,000-strong customer base, ranging from business leaders to customers of financial institutions. Ten has clinched deals with many of the latter, including Lloyds TSB Private Bank and Coutts & Co – and has even advised school leaders.
Consequently, since it was founded in 2003, Ten has gone from strength to strength. Revenues grew by 70% in the financial year 2004-2005, then 80% during 2005-2006 and by more than 90% in 2006-2007. What’s more, at the time of going to press, Ten was enjoying a run rate of £12m.
However, a healthy balance sheet isn’t necessarily the only jewel in Cheatle’s crown. “One of the things I am most proud of is that we have changed lifestyle management from a nice-to-have-for-some service into one that is credible for many,” he says.
Company: Ten Lifestyle Management
Founders: Alex Cheatle, Andrew Long