Think Like an Owner

Ep.256: Alex (@aebridgeman) is joined by Cory Bengtzen (@Cory-Bengtzen).

In this episode, I sit down with Cory Bengtzen, founder and CEO of SkyShare, to explore his entrepreneurial journey from the auto industry to building a vertically integrated private aviation business. Cory shares how his passion for aviation inspired him to leave the car business and start an airplane brokerage with no prior industry experience. He recounts his early days of cold-calling aircraft owners, developing a fractional ownership program, and growing SkyShare into a successful operation serving the Western U.S.

We dive into the unique challenges and opportunities in private aviation, from running Fixed Base Operators (FBOs) to launching fractional ownership and charter services. Cory explains how vertical integration—owning maintenance operations, FBOs, and a charter fleet—has been key to SkyShare's resilience and growth. He also breaks down the economics of private aviation, describing how his team balances efficiency and service to deliver value for clients.

Cory also shares fascinating stories from his career, including ferrying aircraft across continents for the Discovery Channel's Dangerous Flights and his insights into why so many aviation ventures fail. Whether you're an aviation enthusiast or a business owner considering private aviation, this episode is full of practical advice and compelling stories from one of the industry's most innovative leaders.

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:

SkyShare - https://www.skyshare.com/

Cory on LinkedIn - https://www.linkedin.com/in/cory-bengtzen-95a13216/

Topics:

(00:00:00) - Intro

(00:01:10) - Building SkyShare

(00:12:35) - The economics of an FBO

(00:15:25) - The rationale for flying private

(00:23:50) - Customer journeys

(00:30:00) - Aircraft management from a customer standpoint

(00:32:04) - How are owners implementing modifications to jets?

(00:36:45) - Changes in ICP across programs

(00:38:58) - What goes wrong the most in private aviation?

From Ep. 255 with Savneet Singh. Get the full episode here.

Ep.255: Alex (@aebridgeman) is joined by Savneet Singh (@SavneetS).

In this episode, I sit down with Savneet Singh, CEO of PAR Technology, to explore the interplay between urgency, culture, and leadership in building a successful public company. We discuss how Savneet has embedded a sense of urgency as a core value at PAR and how it drives decision-making, team alignment, and outcomes across the organization.

Our conversation delves into PAR's unique approach to team evaluation and incentivization, including how performance reviews are tied to the company's values and metrics. Savneet shares how he identifies and retains ambitious talent through innovative compensation structures and leadership opportunities, ensuring that the culture evolves while focusing on delivering results.

We also dive into PAR's M&A strategy, where Savneet highlights the importance of creating synergy through product integration and customer outcomes. He offers candid insights into lessons learned from organizational design missteps and discusses the role of AI and data in shaping PAR's future.

Watch video versions of the show on YouTube!

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:

PAR Technology

Savneet on LinkedIn

Topics:

(00:00:00) - Intro

(00:01:25) - Projecting a sense of urgency

(00:06:45) - Evaluation cadences

(00:11:26) - Building Culture at Scale

(00:15:12) - What companies do you admire with regard to their culture?

(00:17:16) - Mistakes made in organizational design

(00:21:34) - Originating ideas

(00:22:41) - Making unpopular decisions

(00:27:31) - What makes a successful M&A deal

(00:31:24) - Integrating a newly acquired company

(00:32:34) - Software consolidation approaches

(00:35:55) - Looming threats for software companies

(00:40:55) - Equity Comp as a tool for designing incentives

(00:51:26) - What's top of mind for you?

From Ep.254 of Think Like an Owner. Listen to the full episode here.

Ep.254: Alex (@aebridgeman) is joined by Tim Wade (@Twade889).

In this interview, we dive deep into safety in the aviation industry with Tim, the Director of Environmental Health and Safety at FlexJet. We discuss the current safety landscape, Tim's role, and the importance of a Safety Management System (SMS).

The conversation highlights the transition from the 60s' and 70s' rough aviation safety records to today's hyper-focused safety protocols. Tim sheds light on the sometimes negative perception of safety in the industry and how innovation in communication can change that.

The episode also covers the internal and external challenges faced by safety teams, along with insights on the benchmark against industry standards and the rising importance of technology.

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/

Topics:

(00:00:00) - Intro

(00:01:35) - The state of Aviation Safety

(00:10:09) - Adjusting internal communications

(00:14:24) - Aligning leadership teams with safety

(00:18:46) - Scoring & metrics

(00:21:03) - FAA involvement in safety regulations

(00:22:46) - Software improvements in aviation safety

(00:26:19) - Customer reviews

(00:29:27) - Benchmarking against the competition

(00:32:14) - Tim's Podcast journey

(00:35:24) - Where safety experts need to be challenged most

(00:36:55) - Learning to "burn your hand on the stove"

Links:

FlexJet

The Safety Wire Podcast on Spotify

The Safety Wire Podcast on Apple

Dan Carlin's Hardcore History

Welcome to a special holiday episode of Think Like an Owner! For this unique experiment, we've compiled highlights, concepts, and invaluable ideas from some of our most popular episodes, creating a "mega episode" filled with wisdom from multiple accomplished guests.

The focus? M&A (Mergers and Acquisitions)—a topic that captivated our audience throughout the year. This episode features clips from insightful conversations with:

• Roland Lessard, Co-CEO of Morningside (Episode 209)
• Tom Klein, Co-CEO and partner at Morningside (Episode 220)
• Jeff Homer, CEO of Ensemble (Episode 238)
• Henry Schuck, Founder and CEO of ZoomInfo (Episode 218)
• Savneet Singh, CEO of PAR Technology (Episode 207)

Organized into six key segments, this episode dives deep into the essential elements of M&A:

(00:02:31) High-Level Overview – Why M&A creates value.

(00:11:58) CEO Perspectives – Unique lenses on M&A benefits.

(00:17:42) Building the Team – Essential roles for M&A success.

(00:28:52) Integration Strategies – Different approaches for blending organizations.

(00:43:12) Deal Organization – Managing the complexity of M&A processes.

(00:53:03) Working with Lenders – Practical insights on leveraging debt in M&A.

Each segment includes two curated clips from the featured CEOs, offering diverse perspectives and actionable takeaways. This experimental format is designed to bring you condensed value, just in time for the holidays.

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/

Ep.252: Alex (@aebridgeman) is joined by Savneet Singh (@SavneetS).

My guest today is Savneet Signh, CEO of PAR Technology, a billion-dollar market cap publicly traded point of sale software business serving the restaurant industry. I've been following Savneet's career since college when he went on Invest Like the Best talking about acquiring software businesses through his holding company Tera. Through that work he connected with PAR, joining the board and eventually replacing the CEO. Since then he's turned the business around and is finding more success.

Savneet and I talk about turning around teams, management techniques he's developed, his role as a teacher and chief communicator at PAR, and his views on software businesses from an investor perspective.

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:

PAR

An Excellent Puzzle by Will Larson

Topics:

(00:00:00) - Intro

(00:02:09) - Joining the board of Par, becoming CEO, and saving the company from bankruptcy

(00:12:14) - Retaining speed over time

(00:14:28) - Stages of structural changes

(00:16:55) - Nurturing healthy tension

(00:18:38) - Incentive models

(00:23:36) - What have you learned about your role in making hard decisions?

(00:27:14) - Communication styles

(00:30:40) - What does a typical week look like for you?

(00:32:30) - How has your view of M&A changed?

(00:34:51) - What distinguishes a great product?

(00:36:08) - Is being the all-in-one solution becoming the trend in SaaS?

(00:38:08) - What stands out as a trend in software right now?

(00:40:30) - Takeaways from running and growing product teams

(00:42:05) - Communication between sales or product and customers

(00:43:18) - Advice to listeners

Ep.251: Alex (@Aebridgeman) is joined by Richard Emery (@Richardemery2).

In this episode, my guest is Richard Emery, who has held various notable positions in business aviation sales at brands like Canadair, Bombardier, Gulfstream, and Hawker Beechcraft.

Richard shares his experiences in different sales cultures, managing high-performing teams, and participating in brand turnarounds. The discussion covers his leadership style, team management, and the skills relevant to CEOs.

Additionally, the episode includes entertaining stories about selling aircraft to unique clients, making it an engaging listen for anyone interested in business aviation and sales.

Links:

Richard on LinkedIn

Topics:

(00:00:00) - Intro

(00:02:37) - Richard's career and background

(00:05:47) - How do you organize a high-performing sales team?

(00:15:06) - Identifying ideal customer profiles

(00:24:55) - Developing a customer outreach team

(00:28:51) - Having discipline and focus on a sales team

(00:39:34) - Leadership philosophies

(00:51:54) - What can CEOs do to make their sales teams more effective?

My guest on this episode is Craig Fuller. Craig is the founder of FreightWaves, a data and media business focused on freight and supply chains. FreightWaves is a VC backed company with $19 million in revenue with editorial content, a data product, job board, video content, and multiple podcasts. Prior to FreightWaves, Craig had no background in media but has built quite a playbook for media businesses with a data component. Craig, as of a month ago, is also the new owner of Flying Magazine, an iconic, blue-chip publishing brand in the general aviation community which we discuss extensively in this episode. For a deeper background on FreightWaves, I highly recommend his episode on A Media Operator, which we'll link to in the show notes.

During our conversation, we discuss his fascinating background in his family's trucking business, starting a tech business before FreightWaves, launching FreightWaves, and his acquisition of Flying Magazine and his plans for growth and improvement.

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:

Craig on X

Flying Magazine

FreightWaves

Topics:

(00:00:00) - Intro

(00:01:47) - Craig's career and background

(00:06:46) - The Birth of Freight Waves

(00:12:41) - Building a Media Business

(00:27:05) - The Importance of Unique Content

(00:29:42) - Acquiring Flying Magazine

(00:35:36) - Revitalizing Flying Magazine for the Digital Age

(00:43:07) - The Future of Media and Content Marketing

(00:52:30) - Balancing Leadership and Letting Go

(00:55:05) - The Best Business Model: Industrial Real Estate

(00:57:17) - Conclusion and Final Thoughts

My guest on this episode is Craig Picken, an executive recruiter for C-suite executives in the aviation industry. We discuss key trends in aviation recruiting, top firms' strategies to attract and retain talent, and how small companies can have recruiting advantages over larger competitors.

We also touch on the importance of having an external-facing CEO and fostering a dynamic, fast-moving organizational culture. Additionally, we chat about the benefits of podcasting, as Craig has been hosting his executive recruiting podcast since March 2018, six months longer than I have.

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:

Craig's website

The Aerospace Executive Podcast

Topics:

(00:00:00) - Intro

(00:02:41) - Craig's career

(00:06:48) - What has changed the most in aviation recruiting over your career?

(00:08:13) - What are companies doing to attract top talent?

(00:15:43) - Are there any CEOs you admire?

(00:17:37) - Where do you see decisions being made faster?

(00:21:20) - How do you see smaller companies using their size as an advantage in recruiting?

(00:23:49) - How do companies retain culture and speed as they grow?

(00:26:35) - Merging cultures through M&A

(00:30:18) - Where are people entering the industry from?

(00:36:01) - What are companies doing to attract good technicians?

(00:37:51) - Advice for executive hiring