THE PAPAGALLO YACHT CHARTER BUSINESS IS READY FOR PASSENGERS
If you have been following our blog up to this point, you may have guessed that our fledgling charter business has not yet created one dollar of income. The cash has been flowing, sometimes at an alarming rate, but in only one direction – out. Not too surprising.
As with any new business, you need to be prepared to help fund it in the beginning until it gains momentum and can begin to show a profit. Independent restaurant startups might take six months to a year to do this. And, in the restaurant business, you could always count on unforeseen circumstances arising that resulted in added expense to your operation, usually when you could least afford them. Unfortunately this was also proving to be the case with launching this charter business.
In the back of my mind I knew that the failure of most new businesses could be attributed to any number of reasons, and that the most common one is: LACK OF A WELL THOUGHT OUT PLAN. To quote Ben Franklin: “If you fail to plan, you are planning to fail.”
But I also realized that along with a well thought out plan, it is essential to remain flexible in order to meet the challenges you will encounter that might otherwise derail you from your goal. Being flexible and creative, plus a healthy dose of good luck, saved me from the potential loss of my business, Leonard’s Restaurant, during a partnership breakup. I share that story in my book, CHASING THE HEAT, chapter 17. (Available at www.morrobayboat.com or Amazon Kindle). It was a very stressful and low point in my business career.
Having gone through that experience and learning from it, I pass the following insight along to you: Do not approach things from a position of LACK! Lack focuses on negative emotions. And negative emotions are seldom successful. By not focusing your energy on what you don’t have you are free to concentrate on what you do have and, most important to your success, what is possible.
This allows you to analyze your business plan with fresh eyes, remain flexible, and think creatively. Early in my career I read the following by an unknown author that says it best and has stayed with me ever since: “What we need is always supplied to us and always will be. Pursue your wants, dreams and desires from that platform of fulfillment and gratitude.”
Our yacht charter business, as I mentioned through our blogs, certainly moved me out of my comfort zone. Thankfully, my previous experience owning and operating restaurants has been extremely helpful in this new venture. If, like me, your dream is to own your own business and you’re pursuing that dream, let nothing hold you back. No matter what your experience is, if you are willing to fully commit to your dream – at least one hundred and ten percent – you will vastly increase your chance of seeing it realized. To emphasize how important your personal commitment is, I’m ending today’s blog with the best quote I’ve ever read:
“Until one is committed, there is hesitancy, the chance to draw back, always ineffectiveness. Concerning all acts of initiative and creation, there is one elementary truth the ignorance of which kills countless ideas and splendid plans: that the moment one definitely commits oneself, then providence moves too.
All sorts of things occur to help one that would never otherwise have occurred. A whole stream of events issues from the decision, raising in one’s favor all manner of unforeseen incidents, meetings and material assistance which no man could have dreamed would have come his way.
Whatever you can do or dream you can, begin it. Boldness has genius, power and magic in it. Begin it now.
-Johann Wolfgang von Goethe
Next week’s blog: Join me in the Galley as we have paying passengers onboard.
Joining us for the first time? Join our journey here!