MYLI

It is fair to say that Sascha Schäfers would one day found a company. Around 10 years ago, when the first smartphones came onto the market, he collected his numerous ideas for all kinds of apps on a piece of paper, which incidentally still exists today and is probably kept in his parents' house in Lennestadt.

Today, his ideas have given rise to the start-up MYLi. With MYLi, you can plan, book and organise individual and uncomplicated trips online.

Sascha Schäfers has been living in Frankfurt for almost 2 years now. He studied maths and biology at the University of Siegen to become a teacher. Whilst still a student, he founded MYLi. MYLi stands for My Lizard. Sascha saw the lizard while travelling in Australia and adopted it as the company symbol. A year later, his founding partner found out by chance that the lizard is a symbol for travellers in mythology. How fitting!

The switch from studying to be a teacher to becoming an entrepreneur seems big at first. However, Sascha Schäfers, whose parents own a medium-sized company themselves, has always had an innate interest in business. But he says that his degree programme still helps him a lot today. Mathematics helps him to recognise various numerical relationships. His knowledge of sustainability and the environment, for example, flows from his biology studies into the company. Even from an educational perspective, he can contribute many skills, such as empathy, to the collaboration with his team.

MYLi currently has 14 employees, 8 of whom work in-house and 6 are external, project-related employees. The Managing Director and founder describes himself as a source of ideas and a link in his start-up. He mediates between programmers and graphic designers so that all goals can be realised. His co-founder and also Managing Director Klaus Henschel complements the company with his knowledge of the tourism industry, having worked for many years as Managing Director at Lufthansa City Centre.

Sascha Schäfers is not currently working full-time at the start-up, as he has several other jobs in addition to MYLi. He works as a lecturer in business administration in Frankfurt, has been the managing partner of another company called senseXpense (a company for business travel management and travel expense accounting) since the beginning of the year and has also founded a management consultancy with his co-founder Klaus Henschel.

MYLi is now also breaking new ground. The start-up is now saying goodbye to the concept of going directly to the end customer. The industry is too competitive with other providers such as Booking, Tui, Expedia and others, who all have huge marketing budgets. The latest development is to develop the software behind MYLi in such a way that it can be sold to other providers. The company's own software contains various modules that offer other travel providers new advantages.

How did you come up with the idea of MYLi and the associated idea of a personal travel companion?

The idea came to me when I was on a longer trip to Australia in 2017. I realised that it's annoying to have what feels like 15 different apps for everything to do with your trip. Apps to find out what's going on locally, to organise your trip, check the weather, check the route and so on. I would have liked to have a companion to help me and provide me with all this information in one place.

What attracted you to setting up your own company?

That was the freedom of choice. But also the fact that you're not a small cog in a huge organisation where you're practically just a personnel number on a piece of paper. What appeals to me is that you can pursue your own dream and that you are responsible for yourself.

When did you decide to set up your own company?

That was definitely in the last two weeks of my trip to Australia. Before that, I'd always had lots of ideas, but was somehow still too engrossed in my studies and hadn't really dared to put my ideas into practice. However, the trip to Australia was my key moment.

What is your company's unique selling point?

Of course, there are also travel agencies for travel planning. However, these are limited to their own offers. The world has also gone digital. Our unique selling point is the digital travel provider via app. It enables uncomplicated online travel planning. It automatically compiles a personalised, attractive and complete offer according to the customer's wishes, from flights and accommodation to local activities and real insider tips.

What was the biggest challenge you faced at MYLi?

The biggest challenge was financing. You can only pay for equipment, staff, rooms and so on with money. Money is very important right from the start and therefore presented us with a major challenge.

To what extent did the university's start-up office support you?

On the one hand, the start-up office naturally supported us with its network and events. In addition, the start-up office has a close connection to the project centre of the University of Siegen at the HOLM (House of Logistics and Mobility) in Frankfurt and was able to provide us with office space directly at the airport for two years and we now have our company headquarters there.

On the other hand, it has to be said that Klaus and I only got to know each other through an event organised by the start-up office. At the time, I was at a marketing event organised by the start-up office, where Klaus' son was also present. When we both had to go to our cars to renew our parking discs, we got talking. When I told him that I had ideas about travelling, he put me in touch with his father. Thanks to this fortunate encounter, we now benefit from Klaus' opportunities for cooperation and his network in the tourism industry.

What is your advice for young founders?

In any case, my advice is to network. On the one hand, this is important for the start-up, but on the other hand it also provides a plan B in case the start-up fails. Another positive side effect of networking is that you can attend lots of cool events in different cities. I've been to Vienna, Prague and Berlin, among other places, where I was able to make useful contacts, enjoy delicious food and experience interesting things. It's exhausting to network late into the night at events, but it's also fun!

Would you set up a company again?

With the right idea, I would found another company. If you are no longer so dependent on other investors, then you have the money to pursue your ideas much more easily. Then you no longer need to look for investors and you no longer have to convince others of your idea so that they believe in you. If I officially founded MYLI this year, I would definitely found it again. Because I have learnt so much and learned more from founding a company than at any other time in my life.

This portrait is based on an interview with Sascha Schäfers in June 2020 and was written by Janice Gust.

 

Click here for the start-up's homepage.