Think Like an Owner

In this episode of Think Like an Owner, I sit down with Eric Legvold and Trey Darr of Davinci Jets to explore the business of private aviation management and MRO (Maintenance, Repair, and Overhaul) services. We dive into how Davinci Jets was built from the ground up, the evolution of private jet management, and why the company has remained profitable every year since its founding. Eric shares how the company pivoted from its original single-seat charter concept to full-service aircraft management, bootstrapping the business while maintaining a lean and disciplined approach to growth. Trey brings insights from his experience in aircraft maintenance and explains how Davinci is balancing fleet management with third-party MRO services, ensuring efficiency while expanding their customer base. We also discuss: Why more Fortune 500 companies are turning to third-party flight management How vertical integration in aviation can reduce costs and increase control The challenges of hiring and scaling in the MRO industry How Davinci has stayed profitable in an industry where many companies struggle If you're interested in private aviation, business strategy, or the complexities of running a capital-intensive operation, this episode is full of insights from two experienced operators navigating an evolving industry. Listen weekly and follow the show on Apple Podcasts, Spotify, Google Podcasts, Stitcher, Breaker, and TuneIn. Learn more about Alex and Think Like an Owner at https://tlaopodcast.com/ Links: Davinci Jets Trey Darr on LinkedIn Eric Legvold on LinkedIn Topics: (00:00:00) - Intro (00:03:58) - Starting Davinci Jets (00:09:09) - Growth constraints (00:11:44) - Ventures before Davinci (00:13:46) - The upside to MRO (00:17:31) - Prioritizing your own fleet vs. external customers (00:18:28) - Growth plans (00:20:56) - MRO & Management compliments (00:22;59) - What do you do differently to maintain profitability? (00:27:16) - The Charlotte market (00:29:22) - MRO Growth (00:31:46) - Process improvements (00:33:30) - Market growth (00:40:29) - The slowdown in Jet Cards (00:43:35) - What are you most excited about in the industry?

David Neeleman is a legendary aviation entrepreneur known for founding JetBlue and Breeze Airways. He shares insights on building customer-obsessed airlines, emphasizing the importance of exceptional service and hiring great people. David discusses the significance of effective communication in team dynamics and the challenges of navigating profitability in a competitive market. He recounts a personal flight experience that shaped his views on the industry and offers valuable advice for aspiring CEOs in aviation and beyond.

Discover the essential steps for effective interviewing and the importance of defining clear job expectations. Learn how to establish critical first-year goals for leadership roles through a fascinating case study. Explore the evolving role of CEOs in talent acquisition and the significance of cultural alignment. Gain insights into crafting culture-driven interview questions that reflect organizational values. Finally, uncover strategies for closing candidates with transparency and peer interaction to enhance decision-making.

Jake Dancyger and Cyrus Symoom, co-CEOs of Clariti Software, share their journey of scaling their company from 20 to over 120 employees. They discuss strategies for sourcing and retaining top talent and the importance of transparent communication regarding compensation. The duo emphasizes learning from hiring mistakes and the transition from a scrappy approach to a structured talent strategy. Key insights include identifying internal rising stars and leveraging board involvement in recruitment, making this a must-listen for leaders aiming to build high-performing teams.

Join former ZoomInfo CRO Tim Strickland, Clio CEO Mahesh Rajasekharan, Muse President Michael Coscetta, and CRO Dennis Dresser as they unpack the art of high-performing sales teams. They dive into structuring sales organizations for success and adapting strategies as companies grow. Discover effective pricing models, the significance of cross-team collaboration, and the crucial role CEOs can play in sales. These insights are invaluable for anyone looking to elevate their sales strategies and drive meaningful growth.

Discover the power of decentralizing decision-making to empower your team and foster a culture of learning from failures. Explore the delicate balance between short-term gains and long-term investments, emphasizing the need for strategic adjustments. Delve into the often-overlooked importance of sales and marketing investments in driving business growth, showcasing how prioritizing these aspects can create a significant impact on organizational success. Real-world examples add depth to the discussion, making it both insightful and engaging.

Sam Hyde and Steuart Botchford, co-owners of Northstar Fertility, share their journey in the surrogacy and egg donation business. They discuss innovative strategies for identifying value levers and enhancing growth through targeted sales and marketing investments. The duo reflects on balancing short-term successes with long-term vision, emphasizing a culture of experimentation and transparency. They also highlight their unique pricing model, aimed at simplifying the surrogacy journey while steadily fostering client trust and team empowerment.

In this discussion, Cory Bengtzen, an expert in private aviation, explores the intricate world of customer journeys. He outlines various options such as charter, fractional, and full ownership, revealing how different flying habits influence client choices. The conversation then shifts to the pros and cons of fractional versus full ownership, emphasizing the convenience of fractional options like reduced maintenance responsibilities while highlighting the owner's role in decision-making. A must-listen for aviation enthusiasts!

Cory Bengtzen, Founder and CEO of SkyShare, shares his thrilling journey from the auto industry to the skies. He discusses the economics of private aviation, revealing the secrets behind his vertically integrated business model. Hear about his adventures ferrying aircraft for a TV show, and the challenges of navigating complex private aviation transactions. Cory emphasizes the practical benefits of private flying for business efficiency and explains how strategic acquisitions fuel growth in the aviation sector.

Savneet Singh, an expert in equity compensation and incentive programs, dives into the strategic use of these incentives in modern workplaces. He discusses how evolving compensation structures can help attract and retain talent. The conversation highlights board dynamics in shaping equity plans amid industry pressures. Singh also explores innovative models like phantom equity and aligning performance metrics with bonuses, emphasizing the need for targeted goals to enhance organizational success.