36 JANUARY/FEBRUARY 2019 • FOGHORN Trusted to deliver excellence rolls-royce.com Kamewa Waterjets from Rolls-Royce Manoeuvrability and Efficiency Unchallenged BUSINESSMATTERS broad, gauged support accelerates your learning. Gather a peer group. This can take the form of committees at PVA, Vistage, Chamber of Commerce or other programs. Having peer idea exchange and accountability further broadens your experience, empathy and encourages you to raise your standards. The community I found with YPO was – and still is – invalu- able. If there is no professional group nearby, start one with some trusted individuals for monthly lunches or breakfasts. Define family corporate gover- About the Author Bob Shaw is a veteran industry executive, having led over 100 vessels responsible for over 10 million passengers a year. He can be reached at shawrw@gmail.com. nance and the roles of siblings, parents, uncles and aunts, cousins, etc. Those running the business need clear control. There are ways to split value for passive participants. For example, a friend of mine worked at his grandfather’s Cadillac dealership since age 12 and his siblings never did. Their parents wisely gifted him the operating company and the sisters the real estate of the business, with appropriate business contracts between these entities. If you marry, marry well (and I don’t mean marry “rich”). This is harder than it sounds; you’ll need a spouse who is supportive of the business and understands the dedica- tion and potential personal guarantees that could arise at times. Stay Hungry. Never rest on your laurels. Don’t push for titles unless you’ve abundantly earned it. Be humble, and always respect your fellow crew. Be ready to do every job and earn the respect of the newest crewmember. You might chalk the above up to common sense – and you would be right – but I don’t believe these thoughts are commonly practiced. Moreover, these are not just tips for family operations, but rather a great roadmap for anyone to work their way up and become a general manager in any business. The key nugget here is to always treat the business like you owned it and were going to operate it forever. That way you build an enduring enterprise to potentially pass on to your children, key managers or other good stewards of the future. n (281) 532-2080 shearer-group.com naval architects marine engineers marine surveyors Our Core Purpose... is to Create. 2019 PVA MariTrends - Booth #86