24 JANUARY/FEBRUARY 2018 • FOGHORN BUSINESSMATTERS B usiness in the 1980s was akin to a game of Risk: you would plant flags in far-off places and then aggressively seek to win market share in each new locale. In those days, my flags were five stores in a small, venture capital-backed chain that eventually morphed into a tiny bit of Panera Bread, the most successful restaurant stock of the past 25 years. The board of our small res- taurant chain set high expectations, wanting us to build twelve stores in one year amid a super-heated labor market with runaway rents and con- struction costs. Fast forward the year, and my team and I were thrilled to have built seven great stores. We then received a thrashing that would have made a military drill instructor blush. The board’s actual mission had become clear – they wanted to get to 50 stores as fast as possible and then sell out to Pillsbury or some other cash-rich corporation. Before we knew it, we had a far-flung empire, with units not blocks from each other, but spread out over three cities across over 800 miles. Visiting our 25 stores would take an ex- hausting week. Eventually, our little empire came crashing down from bad real estate choices. We had become corporate roadkill that capital- ism produces naturally and without shame. In 1990, I found myself on the other side of the table, next to the Pillsburys of the world. I was leading a team that bought one of these disparate opera- tions. Under a dynamic entrepreneur- ial team, Spirit Cruises had grown significantly nationwide. It was just like a giant sunflower: ten feet high with a huge head, a body as thick as your wrist and a root system about six inches deep. Our executive team mimicked the long-forgotten performer on the Ed Sullivan Show, attempting to spin pie plates on canes. We’d get Norfolk, DC, Philly, NY and Boston spinning well, then start up Chicago, Seattle and LA, while giving Norfolk and DC a nudge, barely rescuing NY, and leaping to save Chicago. In spite of our efforts, three or four would inevitably crash down in The Power of Local By Bob Shaw, Industry Consultant Ad 1 | 1/4p | 3.375” x 4.875” www.propspeed.com PROPSPEED® is effective on: Propellers | Rudders | Shafts | Struts | Trim tabs | IPS drives | Thrusters Keel coolers | Underwater lights (clear coat) | Any underwater metal surface PROPSPEED® can be used on boats of all types & sizes Both recreational and commercial, from sport-fishers, cruisers, sailboats and superyachts to work boats like ferries, trawlers, tugboats, research ships and patrol boats. Save on your boat’s running costs Having clean props and running gear lowers maintenance costs, reduces corrosion and decreases fuel burn. “We now have five Gladding-Hearn boats. They are the 747 of our water-taxi fleet. They’re dependable, well built, and our customers really like them. The yard is also easy to work with, responsive and stands behind their product.” Tom Fox, Chief Executive Officer New York Water Taxi Gladding-Hearn all-aluminum construction, Incat-Crowther Designs, LOA 72', beam 27', 149 passengers, speed 26 knots with 12 metric tonnes of deadweight. It takes experience to integrate customer detailing and guaranteed speeds, backed by dependable customer service. All at a price you can afford. If you’re looking to build a new boat or upgrade an old one, we can offer com- plete design and construction, from security patrol boats to high-speed ferries. To learn more call Peter Duclos at 508 676-8596 or visit: www.gladding-hearn.com. The 747 of our fleet