Avionics News March 2015 - 69

"Find your niche and fill it."
FIND YOUR NICHE

ROBERT "BOB" SAMO, president and CEO of Silverado Avionics in Napa, California,
and 1983 AEA Member of the Year Award recipient

sales for Avmax Avionics in Calgary, Alberta, Canada.
"Before a meeting where I was taking a bigger
leadership role of a number of people whom I looked up
to and considered my better, he said to me, 'Mark, you
have earned the respect of everyone in there, so stop
apologizing.'"
Don't compete on price
Of course, part of knowing your value means not
competing solely on price, according to Bob Marryat,
longtime avionics technician and founder of QF Avionics
Center, which provides avionics line maintenance,
installations, modifications and bench repair for general
aviation fixed-wing and rotary-wing in Red Deer,
Alberta, Canada.
"Never compete on price," he said. "No matter how
low you go, there will always be someone who will
undercut you. You're better to go on quality, because
people always remember good quality work."
Mind your cash flow
Like Branson, you don't need a degree to succeed, but
you do need to understand the basics of business. One of
the most important lessons is keeping your coffers full
enough to make payroll, pay rent, and buy equipment
and inventory.
"The best advice I ever received was right at the
startup of my business," said Keith Robertson, chief
executive officer of North East Avionics. Based in
Nelspruit, South Africa, the company specializes in
avionics upgrades and repairs. "The advice was to
keep your finance debt to a minimum, and don't allow
too much credit to your customers. Cash flow is an

absolutely vital aspect of any business. In the early
years, with initial setup costs and finance obligations,
it's easy to have a poor and even negative cash flow. If
you allow your customers even a 30-day credit on their
accounts, you could find, in a very short time, that you
have no cash for operating the business.
"Although it is probably not as prevalent today as it
was some years ago, aviation has always been a unique
industry in that most customers expect a 30-day credit
on repairs and maintenance, which often turns into 60 or
even 90 days. It is a stark contrast to the motor industry,
which, I guess, has learned the hard lessons of allowing
credit on repairs to vehicles that somehow after 30 days
seem to be faulty again. Sure, you want to give your
good customers value-added services, and giving credit
to a trustworthy and loyal customer is a great service.
But be sure they are loyal and trustworthy, and that they
won't hang you out to dry with no cash to serve the rest
of your customers."
Stay agile
To ensure longevity in any business, Robertson
advises being flexible and adaptable.
"After 18 years in my own business and more than
30 in the industry, I would think useful advice right
now would be to keep your business agile," he said.
"Sounds weird, but in this industry we face enormous
challenges keeping up with what can only be termed a
technological revolution. Add to that the challenge of
adapting to changes in the regulations that govern us,
and it's easy to see that your company today needs to
Continued on following page
avionics news

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march

2015

69



Avionics News March 2015

Table of Contents for the Digital Edition of Avionics News March 2015

Point of Communication
AEA Now
The View from Washington
International News and Regulatory Updates
'Cell'-ular Changes
Member Profile
NextGen Connection
Avionics Corrosion Control
Member Profile
AEA Convention Information
Business Basics
What's Working?
Aviation Insurance 101
Legal Ease
A Conversation With...
Best Advice
Aviation Aces
Honoring our Heroes
What's New
Before & After
Marketplace Classifieds
Avionics News March 2015 - Intro
Avionics News March 2015 - Cover1
Avionics News March 2015 - Cover2
Avionics News March 2015 - 1
Avionics News March 2015 - 2
Avionics News March 2015 - 3
Avionics News March 2015 - Point of Communication
Avionics News March 2015 - 5
Avionics News March 2015 - AEA Now
Avionics News March 2015 - 7
Avionics News March 2015 - 8
Avionics News March 2015 - 9
Avionics News March 2015 - 10
Avionics News March 2015 - 11
Avionics News March 2015 - The View from Washington
Avionics News March 2015 - 13
Avionics News March 2015 - International News and Regulatory Updates
Avionics News March 2015 - 15
Avionics News March 2015 - 16
Avionics News March 2015 - 17
Avionics News March 2015 - 'Cell'-ular Changes
Avionics News March 2015 - 19
Avionics News March 2015 - 20
Avionics News March 2015 - 21
Avionics News March 2015 - Member Profile
Avionics News March 2015 - 23
Avionics News March 2015 - 24
Avionics News March 2015 - 25
Avionics News March 2015 - NextGen Connection
Avionics News March 2015 - 27
Avionics News March 2015 - 28
Avionics News March 2015 - 29
Avionics News March 2015 - 30
Avionics News March 2015 - 31
Avionics News March 2015 - Avionics Corrosion Control
Avionics News March 2015 - 33
Avionics News March 2015 - 34
Avionics News March 2015 - 35
Avionics News March 2015 - 36
Avionics News March 2015 - 37
Avionics News March 2015 - Member Profile
Avionics News March 2015 - 39
Avionics News March 2015 - 40
Avionics News March 2015 - 41
Avionics News March 2015 - 42
Avionics News March 2015 - AEA Convention Information
Avionics News March 2015 - 44
Avionics News March 2015 - 45
Avionics News March 2015 - 46
Avionics News March 2015 - 47
Avionics News March 2015 - 48
Avionics News March 2015 - 49
Avionics News March 2015 - 50
Avionics News March 2015 - 51
Avionics News March 2015 - Business Basics
Avionics News March 2015 - 53
Avionics News March 2015 - 54
Avionics News March 2015 - 55
Avionics News March 2015 - What's Working?
Avionics News March 2015 - 57
Avionics News March 2015 - 58
Avionics News March 2015 - 59
Avionics News March 2015 - Aviation Insurance 101
Avionics News March 2015 - 61
Avionics News March 2015 - Legal Ease
Avionics News March 2015 - 63
Avionics News March 2015 - 64
Avionics News March 2015 - 65
Avionics News March 2015 - A Conversation With...
Avionics News March 2015 - 67
Avionics News March 2015 - Best Advice
Avionics News March 2015 - 69
Avionics News March 2015 - 70
Avionics News March 2015 - 71
Avionics News March 2015 - Aviation Aces
Avionics News March 2015 - 73
Avionics News March 2015 - 74
Avionics News March 2015 - 75
Avionics News March 2015 - Honoring our Heroes
Avionics News March 2015 - 77
Avionics News March 2015 - 78
Avionics News March 2015 - 79
Avionics News March 2015 - What's New
Avionics News March 2015 - 81
Avionics News March 2015 - 82
Avionics News March 2015 - 83
Avionics News March 2015 - 84
Avionics News March 2015 - Before & After
Avionics News March 2015 - Marketplace Classifieds
Avionics News March 2015 - 87
Avionics News March 2015 - 88
Avionics News March 2015 - Cover3
Avionics News March 2015 - Cover4
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