The Aerospace Executive Podcast

Many business owners get stuck in the details and miss the bigger picture. Alex Vorobieff, author of Transform Your Company, helps companies fix the root causes of business failures. Hiring based on behavior is far more important than hiring on trainable skills. -Alex Vorobieff Takeaways + Tactics Business transformation starts at the top. Leadership must accept responsibility and affect change. Root Cause Analysis is a valuable tool. Don’t just accept a defeat… identify what caused it. Core Values MUST be factored into the hiring process. Companies AND executives must be aligned. Teaching skills is easy. Training or teaching behavioral patterns is not. Identifying good cultural fit is done via identification of core values, and what makes a culture unique. What are YOUR core values? Guest Bio: A highly sought-after speaker, business alignment coach, and the author of Transform Your Company, Alex Vorobieff has helped scores of business owners replace chaos with clarity and finally attain the success they’ve always imagined. Alex is the founder and CEO of The Alex Vorobieff Company, a premier business transformation company. Go to alexvorobieff.com for more information, or contact Alex directly at [email protected]

A+ players know their worth. Putting them through B processes will turn them off. Understand the difference between an A+ and B players: what turns off the A+ player during the hiring process, and why low level administrators should not manage the hiring process. Matt Johnson and I speak about how companies should treat A+ talent. Takeaways + Tactics A+ player knows their numbers and achievements . B players don’t. Hiring processes for entry level workers and executive level candidates are different. Most A+ players won’t stand for being treated like an applicant. During the good times, companies are more likely to hire B players to ease the workload. During hard times, the rockstar will stand out. Learn More About Your Host: Co-founder and Managing Partner for Northstar Group, Craig is focused on recruiting senior level leadership, sales and operations executives for some of the most prominent companies in the aviation and aerospace industry. Clients include well known aircraft OEM’s, aircraft operators, leasing / financial organizations, and Maintenance / Repair / Overhaul (MRO) providers. Since 2009 Craig has personally concluded more than 150 executive searches in a variety of disciplines. As the only executive recruiter who has flown airplanes, sold airplanes AND run a business, Craig is uniquely positioned to build deep, lasting relationships with both executives and the boards and stakeholders they serve. This allows him to use a detailed, disciplined process that does more than pair the ideal candidate with the perfect opportunity, and hit the business goals of the companies he serves. Guest Bio Matt Johnson is a marketer, entrepreneur, musician. As founder of Pursuing Results, a podcast PR & production agency based in San Diego, Matt runs a worldwide virtual team helping business coaches and agencies break in and dominate new markets through podcasting.

Strong leaders build strong teams. Dr. Axel Meierhoefer shares why companies need great leaders, and how to spot one. If you can go to work every day and do something you believe in that’s meaningful and has a purpose, then the money is basically out of the picture. -Axel Meierhoefer Takeaways + Tactics Companies focus too much on teaching management skills to their executives, at the expense of teaching leadership skills. Failure analysis and victory celebration are both keys to growth. The biggest motivator for millennials is having a sense of purpose. Good leaders communicate how employee actions impact the overall business.

Bob Sullivan is the Chief Admin Officer for OneSky Aviation, the parent of Flexjet, Flight Options, Sentient Jet and SkyJet. OneSky Aviation is great at adapting to market shifts and new customer demands. Bob Sullivan gives us a peek inside one of the most successful private jet companies in the world. Business is going to have ups and down, but if you surround yourself with the right people and do the right things, you will prosper. -Bob Sullivan Takeaways + Tactics As a company, being privately held gives you the advantage of not having shareholders looking over your shoulder. To survive in this industry, the business must be managed with a long-term outlook. Filter candidates based on personality assessments that are culture focused. It’s important that they know how an entrepreneurial organization is different.

What are the traits of A+ Players, and how do we get them? Matt Johnson and Craig Picken share insight on finding A+ talent. Nothing drives businesses more crazy than people who are afraid of making decisions. -Craig Picken Takeaways + Tactics The two most important business assets are intellectual capacity and ability to adjust to rapidly changing markets Hiring Managers MUST be immersed in the hiring process. It cannot be outsourced. “A” Players will hire other “A” Players, “B” Players will not. “A” Players WILL NOT WORK for “B” Players. The more people involved in the hiring decision, the less chance an A Player will get hired. “A” Players will fix the problem. “B” Players, in the budget, will not.

Are Millennials really the entitled generation who want to start at the top? Or, are they just more flexible and willing to take risks? James Durham, my friend and podcast Producer, shares his insight on millennial values and the challenges companies face in attracting next generation talent. For my generation of job applicants, the benefits they desire are not homogenous. The long-term upsides of 401k matching or retirement plans don’t resonate for everyone the way they used to. -James Durham Takeaways + Tactics Some want freedom and immediate gratification. Others see success as a goal they must work hard to achieve. Companies must pivot to both to match and manage expectations. They are very tech-savvy, and highly skilled Companies need to leverage social media for marketing AND recruiting. Many millennials want to see companies active in social dialogue and modern in their social mindset. Younger workers have become geared towards schedule flexibility, travel opportunities, and autonomy. More importantly, though, it varies greatly from person to person. Want to know what a worker wants? Then be prepared to ask them a direct question. For more aerospace industry news & commentary: http://northstaresg.com/ To learn more about Craig Picken and the NorthStar Group, visit http://northstaresg.com/. In the beginning of the episode, we talked about how college graduates see the workforce and how likely they are to be attracted by companies who either promote themselves as culture centric (e.g., Google and Amazon) or companies who come with the offer of steady growth. James also shared his opinion on why millenials are more likely to take risks and why they have less to lose than baby boomers did when they were in their twenties and thirties. We also covered: The impact of the “prolonged adolescence” on the workforce Why influencers on social media are good at delivering the information to millenials How the lack of job security has made people think about betting on themselves and starting a business instead of working in the corporate world Millennials are starting families later in life, traveling extensively and changing jobs more frequently, which is having a big impact on the workforce. They are also more likely to take risks and build their own business, as they often feel they don’t have much to lose. Providing relevant benefits and a path for growth is the key to harnessing the power that they bring.

Attracting the right people in your company is vital for success. But what happens when you can’t offer as much financial incentive as the big players? What else can you offer to your future pilots? Is investing in their education worth it? In this episode, Dave Scheu talks about how to find talented pilots and lower turnover rates. The technology is moving fast. It’s almost a shame that I wasted this money on a piece of equipment that is obsolete in a year. -Craig Picken Takeaways + Tactics It’s more than pay. Added benefits, flexibility, and a company culture that values its pilots helps to keep turnover rates low. Pilots who seek continuing challenges won’t always be happy in the airline. They want companies who can deliver on their interests. Hire people who have a future plan, even if your company is not included in that plan. Invest in your people. Investment in their continuing education shows interest in their growth. For more aerospace industry news & commentary: http://northstaresg.com/ To learn more about Craig Picken and the NorthStar Group, visit http://northstaresg.com/. In the beginning of the episode, we talked about talent acquisition and how important is to invest in the education of your pilots. We also touched on the technological changes and how much money is lost due to buying equipment that will be improved upon the next year. We also talked about: The potential of the supersonic business How automation impacts the skills of a pilot The importance of improved satellite communication It’s hard for flight departments to compete with the airlines on wages alone. But attracting the right people is not impossible… it just takes some thought and creativity.

Thought leader Kevin Michaels draws from his 30 years of experience and shares insights on the current state of the aerospace industry. We are in an industry with enormous entry barriers and incredible complexity. -Kevin Michaels Takeaways + Tactics While the behemoths are rising, the independents are laser focused for success. Air travel demand is on fire globally with 7% annual growth, driving up asset prices. Boeing has set aggressive goals which will change the company mindset and shake up expectations. US-driven trade wars and sanctions are driving uncertainty in the supply chain, particularly in raw materials. We also shared insights on: The tremendous uncertainty in supply (both uranium and aluminum) The impact of geopolitics on the aerospace industry Airlines and the growth of outsourcing in the last few decades The aerospace industry is growing, but we are also living in times filled with uncertainty when it comes to aluminum and uranium, caused by the U.S sanctions on Russian oligarchs. There are 3 strategies that companies can use to grow: low costs, differentiators, and focus. At the moment, the market is evolving towards focus and narrower niches, but the optimistic growth plans set by companies like Boeing can easily be impacted by foreign suppliers. For more aerospace industry news & commentary: http://northstaresg.com/ To learn more about Craig Picken and the NorthStar Group, visit http://northstaresg.com/.

Failure is an option, and fear of failure is inevitable. On this episode, Aviation CEO René Banglesdorf shares how she found success out of the depths of the great recession and discusses our role in producing the next generation of innovators. If you can succeed in the bad times, you’ll love the good times. But if you’ve never seen bad times, then watch out! The ability to transform fear of failure into determination to win, no matter what-- THAT’s what makes people rise above the status-quo. -René Banglesdorf Takeaways + Tactics The fight against mediocrity happens every day. Every day we make choices that will either push us forward or make us stall. Companies with a diverse pool of employees are more creative and offer differing points of view. When determining what your company should hire for, look inside the systems and see what is lacking. Millennials need a sense of purpose. Give them something to believe in and they will pour their hearts into it. Resources For more aerospace industry news & commentary: http://northstaresg.com/ To learn more about Craig Picken and the NorthStar Group, visit http://northstaresg.com/. At the beginning of the episode, we talked about the importance of putting people of diverse backgrounds in the aerospace industry. This is not only to give them an equal opportunity to succeed but also to bring new perspectives to the table. Rene also shared insights on: Why the fight against mediocrity starts with emotional resilience The role of innovation in driving younger generations to the industry Universal rules about finding the right candidate You can’t leave a legacy in one day. The secret to success is fighting back after a failure and transforming your fears into fuel to fight the next battle.

We’re often intimidated by co-workers, relatives, and friends that make it big and wonder “What do they have that makes them successful in everything they do?” Is it talent? Or, insane drive and motivation? Jeff Haden shares the surprising truth about success and motivation, and making things happen. Who can I emulate? What roadmap can I find? You don’t have to perfect new wheels. There are perfectly working wheels there already. -Jeff Haden Takeaways + Tactics You don’t need an “Aha moment.” Motivation is something you create. Your goal doesn’t have to be your life’s passion to find motivation to do it. Most successful people are hardworking and persistent. They follow a roadmap and are the last to quit. Success comes in small bites which eventually leads to accomplishments of big goals. Resources For more aerospace industry news & commentary: http://northstaresg.com/ To learn more about Craig Picken and the NorthStar Group, visit http://northstaresg.com/. At the beginning of this episode, we unpacked what Jeff Haden learned about successful people in the process of writing his book “The Motivation Myth: How High Achievers Really Set Themselves Up to Win.” We also talked about his conclusions after studying high achievers, and what it really takes to become successful. Jeff also spoke about: Successful people work harder than everyone else around them. Most people are willing to help if you ask them nicely, as they’re flattered by it. Always ask yourself “Will this action bring me closer to my goal?” Many entrepreneurs quit their job after coming up with a business idea, justifying their actions by saying they want to be “all in.” However, this approach is incredibly risky. What if your business doesn't bring any revenue? Are you prepared to take care of all of the aspects of your business? As a worker, your roadmap and job description are well-defined. But as a business owner, you have to fill in many roles, and often won’t know what step to take next. Keep your job, and treat your business as a side hustle. Test your business idea and find out whether you’re suited to be an entrepreneur.

There is no end to what you can learn about the airplanes you sell, the sales processes, and how to manage a team. But how do you keep reinventing yourself? What are the best sources of leads? How can you add more value to your clients? On this episode, Brant Dahlfors shares his approach to selling jets. I do believe you have to reinvent yourself to stay relevant through your career. -Brant Dahlfors Takeaways + Tactics The best way to sell is to develop a direct relationship with your prospects. Refusing some deals is part of the business. So is bringing more value to your prospects via detailed information that is relevant to their interests Pay attention to the new factors that affect your business. You can never know too much about sales processes, the tech of your competitors, and the technology of airplanes. Word of mouth and recommendations are some of the best lead generation sources. Resources For more aerospace industry news & commentary: http://northstaresg.com/ To learn more about Craig Picken and the NorthStar Group, visit http://northstaresg.com/. At the start of the show, we talked about how to broaden your horizon outside the local market, and the importance of developing a direct relationship with your prospects. We also discussed the value of word-of-mouth and personal recommendations, as well as the importance of keeping an eye on everything that affects your business. We also covered: The importance of being in touch with the latest technology advancements How to improve the dynamics in your sales team How to look more professional in the eyes of the client Constantly reinventing yourself is a strong way to stay relevant in a competitive business. Make the tech work for you. It will keep your work fresh and interesting.

With the growth of global business, airlines are struggling to keep up with the demand of travelers. What does this mean for business aviation as an industry? Are we on the verge of a Golden Age for aviation? What makes this industry so unique? On this episode, I talk to the co-owner and founder of Corporate Jet Investor, Alasdair Whyte, who shares the future for the business aviation industry. We’re about to see a Golden Age of business aviation. -Alasdair Whyte Takeaways + Tactics Business Aviation is a small community. OEMs rely on good brokers. Brokers rely on good operators. OEMs, Brokers and Operators get leads from financiers or lawyers and other channels. When 1,000 random Americans were surveyed, 25% said they’ll fly in a business jet in the next 10 years. The US is a great place to own a jet because fuel is cheap, and it’s easy to take-off, land, & park. Permits are obtainable, and there are many private airports. This is not the case throughout the world Resources For more aerospace industry news & commentary: http://northstaresg.com/ To learn more about Craig Picken and the NorthStar Group, visit http://northstaresg.com/. Alasdair talked about how he got started and the advantages of growing a business in a lean economy. Next, we talked about why business aviation is such a unique industry and what is going to create more demand for it. We also discussed: Why Alasdair thinks business aviation is on the verge of a Golden Age The average age of owners in the business aviation space Different players and countries in the global market The cost of business aviation is coming down, and more people are going to adopt it. Airlines are going to struggle to fulfill the needs of a growing global business community, and this is where business aviation steps in. The US has proven to be THE best places to own a jet from a business standpoint-- and that’s why it’s booming.

The OEM and third-party maintenance worlds are incredibly competitive. How can a company provide value that cuts through the competition? What are some of the additional commodities that can benefit the whole market? How does leveraging of data raise industry standards? On this episode Neil Book, President and CEO of Jet Support Services, Inc shares valuable insights on these topics. I try to bring a sense of urgency and the need to innovate. -Neil Book Takeaways + Tactics A younger fleet means aircraft can be in engine programs a lot longer. As new aircraft sales have stalled, the OEMs are focusing heavily on the aftermarket. As you build new businesses and revenue streams, it is important that they continue to feed the core business. Resources For more aerospace industry news & commentary: http://northstaresg.com/ To learn more about Craig Picken and the NorthStar Group, visit http://northstaresg.com/. At the start of the show, we talked about the work JSSI does, and the changes they’ve made to the age of the aircraft in their engine program. We also discussed why manufacturers and OEMs are focusing more on the after-market. He shares the value-add commodities they have integrated into their customer service. We also discussed: Strategic partnerships and communication How Neil’s tech experience translated to how he does his work at JSSI The importance of new revenue streams the feed into the core business Leveraging buying power with the maintenance community will translate into very competitive rates. This removes the risk of aircraft maintenance and can reduce the overall maintenance cost. Combine technology, innovation and partnerships with the best MROs in the industry, and the ultimate beneficiaries of this are the aircraft operators. Guest Bio: Neil Book, President and CEO of Jet Support Services, Inc. (JSSI). Find him on LinkedIn https://www.linkedin.com/in/neilbook/.

A winning company is rooted in strong culture and good leadership. When this is lacking, what are the questions you should ask to start turning things around? How do you evaluate whether the management has the appetite to do what needs to be done? How can you go about assembling the right team? On this episode, President and CEO of Zodiac Aerospace, Jeff Barger, shares his strategies for transforming a company from struggle to profitability. The right team has to be assembled. -Jeff Barger Takeaways + Tactics You want collaborative, cross-functional types of leaders. Lead by example and do what you say you’re going to do. Bonuses for operators: money is nice to have, but it’s the recognition they really want. Resources For more aerospace industry news & commentary: http://northstaresg.com/ To learn more about Craig Picken and the NorthStar Group, visit http://northstaresg.com/. At the start of the show, Jeff gave some background on his career. He shared his experiences turning businesses around, and how he has successfully done this over the last 15 years. Next, we talked about how to evaluate the culture and leadership to see what needs to be done, as well as the best ways to incentivize hard work. We also discussed: The kinds of leaders you need to have How do get the buy-in of the workers Dealing with unions Mistakes other companies have made It’s natural for people to be a little cold to a new leader, but when they see that action is taking place, they will start warming up. Once the trust builds, they will start to do the things necessary for their own personal success. That's where you really see the ownership start to get traction at the operator level.

The aviation industry is ripe for excess and unnecessary spending. How has this affected the balance of power? How will technologies like blockchain promote better data sharing and conversations? On this episode, we are joined by Eldon Thomas from Velo Aviation and Jet Data to answer these questions. We can share information and data across the industry on the best solutions for performance and reliability. -Eldon Thomas Takeaways + Tactics GE is driving more revenue on the aftermarket services than they are from selling new engines. OEMs invest a lot of money into the products so they can capitalize on the backend, and the leasing companies all want products for a price that makes sense for their balance sheets. A tracking and information system for parts will help everyone in the industry, and keep insurance costs in check. Blockchain technology is coming to aviation. Resources For more aerospace industry news & commentary: http://northstaresg.com/ To learn more about Craig Picken and the NorthStar Group, visit http://northstaresg.com/. Eldon shared how he got started, and explained his interest in supply chain management in aviation. Next we talked about the whole parts industry and the factors controlling it, followed by the possibilities blockchain presents for aviation, and how it can completely change everything for every stakeholder in the industry. We also discussed: Why companies end up overpaying for insurance What makes the airline industry unique Why there’s a demand for surplus parts The airline industry is unique. There is a global need for parts which is unpredictable, and parts traceability is expensive. The entire industry can be transformed by Blockchain, the same technology used in Bitcoin, to create a very secure database that is difficult to hack and misuse to bring sanity to an often insane supply chain.

What does it take to be an executive at the highest level? Should you focus on developing your strengths to the maximum extent, or do you shore up your weaknesses? What happens in a world where IQ is just table stakes? Certified Executive Coach and Chairman of Hawthorne Aviation, Bill Koch joins us to share how to become an executive that attracts and motivates others to high performance. Effective leaders make investments in others, and far beyond their direct reports. It’s about building a community of trust and letting go of some of the control. - Bill Koch Takeaways + Tactics There is magic in letting go - Effective leaders build a community of trust by investing in others and letting go of the control. In each executive, there are usually just 2-3 behaviors that hold them back. At the highest levels, executive leaders need to a whole person. You cannot just be good at one function. As the youngest CEO of AMR Combs, Bill took over the position at age 34 and quickly realized he needed help. The lessons Bill learned in that period of challenge and rapid growth set the stage for his current coaching work with aerospace executives and leaders. Bill shared key insights on: The ultimate predictor of success at the highest levels of business How to look past the immediate financial challenges and invest in people Why emotional intelligence skills must be developed and practiced Whether you should lean into your strengths or shore up your weaknesses What needs to change for aerospace to attract the next generation of talent The aerospace industry, and leading executives, face two major challenges. The first is developing themselves and their people, building emotional intelligence at every level of the organization. The second challenge is learning how to adjust and adapt the culture and structure of their organizations to attract the next generation of talent. Be sure to listen to this special conversation and take notes! Bill shares some valuable guidance any leader can use to improve the leadership and emotional intelligence skills that so often determines success and failure. Learn More About Our Guest: Bill Koch is a Certified Executive Coach and Bill has worked with some of the premier companies in the world, including Apple, American Airlines, British Petroleum, John Deere, Time Inc., McKesson, AMN Medical, Christus Health, Rice University, University of Texas Southwestern Medical Center, Raising Cane's Restaurants, Globe Life Insurance, CAE, Arcis Golf. Bill is an Associate Certified Coach with the International Coach Federation (ICF), a member of the elite Forbes® Council of Executive Coaches and plays an active role in the Rice University Leadership Development Program. As an industry executive, Bill was the youngest CEO of AMR Combs, a leading FBO services provider, taking over the role at just 34 years old. For more than 25 years, Bill held C-Level positions in leading organizations, both public and private, including CEO for a Fortune 500 subsidiary. He currently serves on investment advisory boards, two corporate boards, and community and professional organizations, including his current role as Chairman of Hawthorne Aviation. Resources For more aerospace industry news & commentary: http://northstaresg.com/ To learn more about Craig Picken and the NorthStar Group, visit http://northstaresg.com/.

The Aerospace Executive Podcast features in-depth conversations with executives, leaders, influencers and journalists in this dynamic, high-stakes industry. Hosted by Craig Picken, founder of NorthStar Group and the leading executive recruiter for the aviation and aerospace industry, you'll learn how top aerospace executives are developing their people, competing for talent, overcoming challenges and adjusting to industry trends to drive growth and profits. We’re going to have some company leaders who have dominated the industry...people who are coaching executives...people who build airplanes and the technologies that are changing the industry. -Craig Picken Craig has a very unique background, being the only executive recruiter in the country (perhaps even the world) who has flown airplanes, sold airplanes and run a business. So rather than talk about recruiting and bringing on A players, the Aerospace Executive Podcast puts the focus on the industry and how aerospace leaders are facing the challenges of this dynamic, high-stakes industry. In future episodes of the Aerospace Executive Podcast, Craig and his guests will cover: How executives are setting the vision and culture of their companies Challenges and industry trends Developing and competing for talent Strategies for driving new growth, revenue and profit How unique technologies like blockchain could transform aerospace and aviation Strategies we can take from executives in the light business jet and helicopter markets Craig also leverages his experience and background as a naval officer and executive to give back to the military community, maintaining an active blog for military officers and enlisted people who are transitioning out of active service. For executives or leaders in the aerospace and aviation industry, you’ll take away something actionable from each conversation, including leaders at aircraft OEM’s, aircraft operators, aftermarket providers, leasing financial organizations and MRO providers. Stay tuned for future episodes and subscribe on iTunes, Stitcher, Google Play to receive new episodes on your device automatically. Learn More About Your Host: Co-founder and Managing Partner for Northstar Group, Craig is focused on recruiting senior level leadership, sales and operations executives for some of the most prominent companies in the aviation and aerospace industry. Clients include well known aircraft OEM’s, aircraft operators, leasing / financial organizations, and Maintenance / Repair / Overhaul (MRO) providers. Since 2009 Craig has personally concluded more than 150 executive searches in a variety of disciplines. As the only executive recruiter who has flown airplanes, sold airplanes AND run a business, Craig is uniquely positioned to build deep, lasting relationships with both executives and the boards and stakeholders they serve. This allows him to use a detailed, disciplined process that does more than pair the ideal candidate with the perfect opportunity, and hit the business goals of the companies he serves. Resources For more aerospace industry news & commentary: http://northstaresg.com/ To learn more about Craig Picken and the NorthStar Group, visit http://northstaresg.com/.