Sergey Petrossov is Setting the Example for Successful EntrepreneursOctober 11, 2019
Sergey Petrossov’s solid work ethic and incessant drive to succeed have been evident throughout his entire entrepreneurial career.
Petrossov is most known for founding JetSmarter, a technology company that made shared and private flights accessible. JetSmarter has reinvented private air travel by making private jet travel affordable and straightforward. Earlier this year, JetSmarter was acquired by industry leader Vista Global. JetSmarter was then fully merged with XOJET, a Vista Global subsidiary, to form a new, combined platform called XO.
Petrossov is a serial entrepreneur and one of the most well-traveled businessmen in the world. He has been listed as one of Forbes’ 30 under 30 (in 2016) and named one of South Florida’s Top Working Professionals.
Before launching JetSmarter, Petrossov co-founded two IT projects: an online chat system for website customer service and a distance-learning platform for Russian-speaking educational institutions. He was also a board advisor to a private jet operator when it had the world’s largest on-demand Gulfstream charter fleet. The operator was based in South Florida.
Petrossov obtained his Bachelor of Science in business administration and finance from the University of Florida. When he is not flying around the globe, he resides in the South Florida area.
The Idea for JetSmarter
Petrossov loves to fly and has traveled all over the world. One day in 2009, he joined a friend on an experimental private flight in South Florida. However, he learned later that the only way to book a private plane was by calling the company directly and talking to a dispatcher. The dispatcher would then send an invoice that needed to be physically signed and scanned or faxed back to the company. Petrossov was shocked at how antiquated the entire booking processes seemed, and he figured that the entire experience could be streamlined via technology.
Intrigued and determined to find a way to make the private flying experience much more convenient, he began researching the industry. Petrossov found that nearly 70 percent of all private jets were empty and that the majority of private flights were unoccupied. Also, this is the only travel and transportation market that has not gone digital, and this is really when the “a-ha” moment happened for him. He realized that this industry needed to go online and digital, so he launched JetSmarter in 2013. Since its formation, JetSmarter has transported over 200,000 passengers, democratized private aviation by making it more affordable and accessible, and all while creating a new lifestyle for people. In early 2019 JetSmarter was acquired by Vista Global to take this concept and scale it significantly around the world.
Strategies for Business Growth and Productivity
For Petrossov, business growth largely depends on a combination of innovation and marketing. Constant innovation hinges on always intensely focusing on enhancing your customer’s experience and adding value throughout the customer journey. After innovation, finding the best way to connect with the audience or the market is the surest way to success.
What all successful entrepreneurs have in common, Petrossov believes, is perseverance. As all businesses face difficult times and have to learn from mistakes and pivot when times require. Trial and error (experimentation) are what move a business forward and are at the heart of innovation. More importantly, without experimentation, there is no innovation and, ultimately, no advancement or progress. All great companies and societal improvements are born this way.
Petrossov is always trying to think of ways to innovate with technology, so he has many business ideas. Rather than thinking of improving a given service by simply making it digital, he tries to focus on how the outcome improves the lives of the people he is trying to serve.