Monday, October 3, 2011
Aviation has never been 'easy' to get into without a fat wallet, and allot of friends, and it continues to become more difficult as our planet 'becomes smaller.' I don't really have many doubts that of those individuals were to try to start their own business today, it would fail. I have already witnessed 4 companies implode within the year last 5 years. That's almost one a year in my very small geographic location - and I don't get out that much.
Companies that have been established for quite some time have long customer lists, and most of them will remain loyal, even if junior thinks it's OK to leave a running aircraft's cockpit unattended while he loads baggage in the rear and receives a violation.The equipment is paid for, employees are hired, and expenses are paid through the end of the year. Anyone can succeed when it's just handed to them.
The aviation industry, and business in general are in a bad way. Statistically speaking, 99% of start ups fail. If that's the case, why do we insist on doing things the old way. Why do our 'elders' insist on doing things the old way? Isn't that the definition of insanity? Doing the same thing over and over and expecting a different out come?
Go to school, get a job with 'slightly' higher pay than your 'uneducated' counterpart, get married, and die. You'll be in dept for the first 10 years of graduation too. But you won't have to pay a dime for the first 6 months after you receive your diploma! I'm not anti school by any means. But did you know that garbage men make $60,000 a year? Almost 80 in New York.
Business is the same.
Make a business plan. Jump through hoops. Sell 90% of your company before it's founded. Work your butt off, and if it's successful, be happy that you make more than the average garbage man. Or do you? You probably do if your parents gave you the company.
Over the next few months, I plan on discussing some of the reasons, businesses fail. I'm doing this so that I can learn about the pitfalls, and hopefully avoid them. Without discussing to many proprietary things, I will share as much as I can because I hope that we can do business together in the future.
I've ordered a couple of books, I don't know if they're any good, so I can't really review them. But based on others' reviews, it seems like it will probably be helpful. If you've read This, let me know what you think. Also, can you recommend any good ones?