One of the most successful entrepreneurs of the dot com boom has spoken about what it takes to run a successful business, growingbusiness.co.uk reports. Martha Lane Fox, one of the founders of the highly popular travel website Lastminute.com, has revealed that acknowledging the importance of profits, embracing new ideas and understanding customers all played a big part in the success of her company. "Profitability was always core to the business; I don't think businesses can work without a plan for that. To some people it comes second and they look to get the technology right and then the traffic to the site."Ms Lane Fox was marketing director of Lastminute.com until 2003. She now acts as a non-executive director. During her talk at an event held by Oxford Entrepreneurs, she also suggested that new ideas should never be discouraged."Some companies say 'we don't need any more new ideas' and want to concentrate on what they have got," she said. "However, keeping mechanisms in your business for them can be very rewarding. You should never prevent new ideas; you just need to manage them properly."Lastminute.com was founded in 1998 by Ms Lane Fox and Brent Hoberman. © Adfero Ltd