What does the future hold for space travel? That's a question that financial forecasters and experienced travel business moguls can't quite comfortably answer. Well, the future holds unlimited opportunities and it is important that we try to learn from previous successful travel businesses (Thomas Cook is a great example) and also look into the current prosperous travel businesses and how they are shaping the travel industry. Space travel (Space X by Elon Musk to be specific), is currently the main thing, and definitely the future to invest your money.
The Success Stories
Taking a closer look, the success of these two companies, Thomas Cook and Space X, wasn't something instant, it takes patience and dedication. Ask any millionaire; while some have a soft landing, most people have to devote a lot of dedication and hard work to be successful. Thomas Cook identified his business as a travel service for Christians that did not agree with alcoholic beverages being served around them. They took to this niche and over the 178 years, adapted to the changes that came around that time, and at one point came to be one of the world's leading airlines.
Thomas Cook's success story is an eye-opener for anyone who is looking for motivation for starting their own travel business. Their operations stayed afloat through both world wars, six monarchs and the rise and fall of the Soviet Union. Their diversity and adaptation to the market changes kept the company ahead of its time to become the icon it was in the travel industry.
The success story of Space X isn't that different. Elon Musk wasn't born a millionaire. He worked hard to achieve the levels of success he is at today and worth billions. The successful software engineer has been at the forefront of various successful businesses including Tesla and Space X. When Space X came into the market, there were already established businesses and fierce competition from companies like Boeing and Airbus. Creatively, Musk chose a niche that most people wouldn't dare to venture: Space!
The fall of Thomas Cook
Thomas Cook's success came crumbling to the ground faster than it had planned. Just as of 2019, the once successful travel household name ceased its operations and collapsed into liquidation. After numerous attempts to keep it afloat, it just couldn't survive. The kind of competition and its poor mergers did not give the travel agency any options. Brexit also played another role in its demise, but all in all, its business model was very hard to adapt to the instant and continuous changes in the market.
The future of Space Travel
Space Exploration Technologies in full, Space X, is currently redefining how we understand air travel and is focused around traveling into space and other planets and not limited to earth. This is quite a bold move for a business, something that Thomas Cook didn't realize was important.
Founded in 2002, Space X's first three attempts to launch its rockets were not successful and placed the company on the verge of going bankrupt even before the first flight was made. The final attempt was then scheduled for September 28, 2008, which was the turning point of the business and the whole space travel in general. The Falcon 1 rocket successfully took off from the launch pad, ensuring now that the business would remain afloat with it.
The success of the Falcon 1 rocket set a series of a domino effect for the company's success, and now after numerous iterations, the Falcon 9 is the world's powerful rocket.
The space that was originally reserved for NASA saw Space X come and revolutionize space travel. United Launch Alliance was solely the entity that operated any space-related launches of rockets for both NASA and the Pentagon, but Space X even assures that it will make it possible for ordinary people to travel to space. Though their market is catered for millionaires, or generally those that can afford the top dollar for space travel, this is a clear indication that it is in the process of opening doors for the future of traveling, which is space travel.
The success of any travel company requires dedication and great business ideas to ensure that you cope with the numerous ways that people want to travel. The rise and fall of Thomas Cook should always be a constant reminder for any start-up looking to be a millionaire amidst the competition and the mature industry. The Future of space travel is just beginning and more humans will be flying for exploration in space and other planets really soon!
