The Best CEO Work Breaks: A Yacht Charter Vacation

You Deserve a Luxurious Yacht Charter

If you find yourself stuck on something, if you find yourself unable to make progress on a project that your company is working on, you need to get away from the office and your laptop. You need a “Yacht-Ready” vacation.

gorgeous yacht charter in fort lauderdale

Yacht Charters: The Ultimate Getaway

Too often, CEO’s try to ram every bit of our businesses through a tired mind, which usually results in a false positives and (in some cases) failure.

If this sounds like you right about now, you need a break.  You need to get away. And as a powerful CEO or entrepreneur, you have the luxury of making that getaway count.

super yacht in the mediterranean

How to Charter a Yacht

No matter what ocean-line you’d like to visit around the world, there will always be a yacht charter company close by to offer you a yacht charter that give you the greatest pleasure on the open seas. “Charter” essentially means to “rent” a boat with (or without) a full crew to let you experience an open world that you never thought possible.
To get started, narrow down the city that you would like to visit, and do a Google search for “Yacht Chartersenter city name here‘”.

Once you have your results, click on one of the first few results that come up. Check out their yachts and what might be available for around the time that you plan on taking your yacht vacation into the open waters.

PRO TIP: Once you find a qualified yacht charter service, consider checking out Yelp.com and looking up the company’s ratings to make sure they are legitimate.

Owning Instead of Renting

Let’s say you fall in love with the idea of a yacht charter, and want to take it to the next level and PURCHASE your own yacht to get away whenever you want.

If you have the money, I would HIGHLY advise this. The yachting industry is actually booming these days. By owning out your yacht, you could make a considerable amount of wealth on the backend by owning one as a personal investment.

Plus, nothing screams “sexy manliness” like owning your own yacht.

Financing a Yacht

superyacht in the atlanticMany people have equity in their homes and can very easy get a home equity loan.
I recommend checking into this because the rates can be very low to finance a yacht in this manner. Especially if you only plan on holing onto this yacht investment for a few years and plan on selling it from there.

You can later sell the yacht and instantly pay off the loan in cash.

If you happen to reside in the U.S., you can borrow cash through marine lenders if your FICO score is over 700.

It’s also always good to check you FICO scores first before you talk to any lenders and they pull your credit.

Likewise; it’s usually a good idea to have a debt to income ratio below 35%.

Stock Portfolio Financing

Another good way to finance a luxury yacht is through stock portfolio loans.

Many times your personal stock brokerage will loan you up to the equity that you have in stocks (which may be about 1% over the LIBOR rate).

Using this method can result in a super cheap loan.

And finally: if you happen to decide that you love yachting SO MUCH and want to live on this boat for an extended amount of time…

NEVER mention to a lender that you’re going to live aboard the boat.

Doing this will cause an alarm in their eyes and they will begin to expect the worst. (Back to that inevitable “Murphy’s Law” that we talked about before).

French Financing Tactics

If you are not a US resident, you may be qualified to get special “French Financing” where you put 25% of the asking price down.

epic yacht with hottub and sitting balconyBy using this tactic, you will need to leave the yacht it in charter for five years, and the charter company pays the loan down with the income that it earns.

In using French Financing, you are allowed to use your yacht up to 12 weeks a year but you have to leave it at the charter’s initial base.

The good news is that you can use other yachts around the world that are similar to yours during the course of ownership.

At the end of five and a half years, the loan will be paid down to about 35%.

From here, I advise to sell the yacht and pay that loan off or finance the yacht at 35%, which is also relatively simple to do (given that your loan is in good standing).

Life is Short

Everyone deserves a break. That includes you. Don’t let work beat you down. That’s not why you became a CEO. Sometimes it’s hard to remember that.

For more tips on the best way to get a yacht charter vacation, check out www.yacht-ready.com. They have excellent information for “newbie enthusiasts” looking to get into yacht life.

How To Be A Successful CEO

The Basics of All Successful CEO’s

The basic ingredients to being a successful entrepreneur and CEO usually involve:

  • High intelligence
  • A great deal of energy
  • Handling demanding work effortlessly

That’s it.

Being a CEO requires persistence. It requires a lot of patience, it requires a kind of courage, a real intellectual honesty, a willingness in other words to see something difficult and have the communication skills so that you can help others to see and then to go on.

Those are all very personal characteristics.

What people can learn is that to succeed they are going to have to enlist the efforts of others.

Whatever the job. CEO’s must get great people and help them to work well together in organization as teams. This will allow them to succeed rapidly.

Examples of Success

fortune magazine photo co-ceo clubI happen to be very impressed with what Jack Welch was able to do at GE. To begin with he had a good record building, running the divisions that he was given responsibility over.

But when he came to GE, he followed Reg Jones. Jones was on the cover of Fortune as manager of the decade. So he was taking over an organization that was regarded as doing very, very well.

Jack saw that GE would die if it would continued along the path that it was going. Many corporations did die in the 80s if you remember or dismantled.

A Company Portfolio Shift

And so, he shifted the portfolio of the company. He sold businesses that were very vulnerable to competition from Asia.

He entered growth businesses. He just destroyed the bureaucracy of the company.

GE was about 400,000 people deep when he took over. It went down to roughly 200,000 or half the people.

That’s a huge economic benefit to the GE, assuming that they can function well with that little amount of people.

These efforts doubles the productivity. Most of the people left were staff and layers of minimal management that got between the leadership and the operations.

Confused Notions Regarding “CEO Management”

This whole notion we have today that everybody embraces of a flat organization is something that comes out of that work because we saw it could be done.

At GE, Jack was able to support innovation and develop some really very fine managers to succeed him, who are also absolutely different (in their very own ways, of course).

Louis V. Gerstner - IBM CEOHe did a remarkable job. Just astounding.

Lou Gerstner and then Sam Palmisano at IBM have just transformed what was once a completely different type of company.

Gerstner inherited an IBM that was really in crisis, restored it. In some ways, you could say that Palmisano had a harder job because IBM was regarded by many as “fixed”.

Other CEO Success Examples

Lafley at Procter & Gamble did a really remarkable job in restoring the company’s confidence in its skills and getting it focused on growing areas; both in terms of product and geography and driving it forward. Forget the yacht parties and fun-filled money spending. This is about business.
(Although there is a time and a place for that too.)
The envisioning part is hard because sometimes it often means being critical of activity that is very successful currently.

“Adapt or Die” Thinking

It’s understanding that things just have to change. If you look at higher education today, it’s inconceivable that we can keep accepting steadily rising costs; costs rising higher than inflation, higher than a lot of the rest of the society.

This sort of thinking means that we have to pay staff and faculty more, that we can have a tenured faculty with no retirement age.

We’re Headed For A Crisis

There will be leaders and CEO’s of great institutions that will see this sort of coming soon crisis. They will find ways of addressing it.

It’s not too hard to see it.

What’s hard is to see it and then think about how it might be changed.

leadership quote for successful ceosOften that getting other extremely talented people, maybe more talented than you are to help you work with the problem that you’ve identified.

A leader doesn’t have to do everything; a CEO doesn’t have those sorts of resources over the span of one lifetime.

But what they DO have is the ability to understand what kind of a change is needed for the organization at hand (or the world) and why.

They have to be able to assemble really great people and get them committed to working on the problem.

Then they have to have the courage to keep going because the earliest results are often the most difficult to achieve.

Top 7 Tips for Entrepreneurs by CEO Experts

Tips for Entrepreneurs and CEO

For most all CEO’s, having mentors to go to for tips on becoming the best at what they do is crucial.

(source: Entrepreneur.com article: Why CEO’s need mentors)

As such, I’ve gathered the top 10 tips from successful figures across the world to help leverage your growth as an entrepreneur trying to achieve excellence.

1. Know Your Weaknesses

know your weaknessSure, you know what your strengths are but know what your weaknesses are. But it’s also best to have a number two.

Have someone alongside you who compliments you in the sense that they’ve got strengths that complement your weaknesses, but are tough enough to tell you what you need to hear.

If you look at entrepreneurs all around the world, the ones that have really been successful are the ones where they’ve got a number two who keep them from going into orbit.

2. Know Your Purpose

know your purposeI don’t mean mission or vision or objective.

What’s your purpose?

Why are you doing it?

What is it you want to achieve in your life?

You might say to me, “Well, I want most is to grow my business to ‘X’ size and sell it for the highest possible price in five years”.

That’s fine, but that means you’ll run that business very differently or develop that business quite differently than the most successful entrepreneurs would.

If you were to say to me, “I want to leave this world by creating a dent in the fabric of space and time,” then I know your vision is solid and you have a foundation for what you do everyday.

If you can just NAIL that purpose down to a sentence and then get it to half a sentence, you’ll have yourself a healthy laser beam of focus.

ONLY THEN will you stand a good chance of getting to success.

3. You’ve Got to Believe in Yourself

Look, if you don’t believe with a passion in what you’re doing, people will see through you.

believe in yourselfThey’ll see through you very quickly and you will not get the commitment that you need from the people under you and the people around you, and the people who want to lend you money and all kinds of other things.

Those are the three things you need to have as a top entrepreneurial leader.

Belief, passion, and courage.

What’s courage about?

Well, of course you don’t actually grow businesses whether it’s from nothing or even when they’re a reasonable size and you want to double them or triple them, you don’t grow them unless you take risks.

YOU MUST have the absolute, balls to the wall courage to take risks.

It’s the easiest thing in the world not to take risks because you’re too “scared” or too “comfortable”.

NEWS FLASH: Comfort is death.

I find this with second and third generation family businesses. They’re frightened stiff of losing the family silver.

Of course they will lose it if they don’t take risk and really move the business forward.

4. You Have To Respect People

I don’t see any entrepreneurs out there, really successful ones that is, who actually treat people badly.

You’ve got to respect them.

I’m not saying that you’ve got to be soft with them because you’ve got to be fairly skeptical as well with all those people out there and divide an awful lot with what you’re told by two.

BUT, you’ve got to respect people. And you’ve got to make sure that you’ve got teams of people under you who really will give you upwards leadership.

5. Always Have a Plan B

Murphy’s Law states that, “If it is possible, it will (and unfortunately DOES) happen.

This sort of thinking can leave you handicapped to experiencing life.

However, it’s always good to be prepared. So, my best advice here is never to go into a project unless you have a solid Plan B. This plan should handle any problem that may arise during your adventure to the top.

6. Keep It Simple

keep it simple for ceos and entrepreneursI said earlier that I do believe business is simple; it’s human beings that make it complex.

The best entrepreneurs keep it really, stupidly, simple.

Stick to your knitting, know what it is you’re doing, know why you’re doing it, and FOR THE LOVE OF GOD… please keep it simple.

Don’t allow people around you to make it more complex, because it doesn’t need to be in my opinion.

7. Work Smart

There are a lot of non-entrepreneurs who believe the trick is to work hard; I don’t accept that.

The people who are really clever are the ones who work smart.

They work hard and they play hard.

Yes, of course there are occasions when they put in 12, 16, 18-hour days. As equally other occasions when they’re out on the water or on their golf course or they’re enjoying themselves.

You’ve got to have that combination.

These days it’s fashionable to talk about work-life balance, but I think that is absolutely right.

You’ve got to make sure that you’re not just a total workaholic, you’ve just got to work smart enough to be able to afford the time to play just as hard as you work.

I think that really covers all the things I had to say apart from one last thing, and that is:

BONUS TIP: Please Have Fun

having fun on a yacht-ready for anythingYou only live once.

Make sure you try and enjoy every single day, and try and ensure that everyone around you enjoys every single day.

You won’t achieve that all the time. But when you do, the moment is worth the feeling in gold.

Take breaks and remember that the world is your oyster.

For me, I personally love taking week long cruises on a yacht charter in Europe or the Eastern coastal waters in Fort Lauderdale, Florida.

But whatever it is that makes you happy, do more of THAT. Even if it’s just sitting in a room and watching Netflix by yourself.

Let your brain rest a bit. Trust me. You’ll your mind will thank you for it later.

 

OH! And last thing: If you’re successful, I only want 10%.

;)