On Tuesday, October 29th, the Daviess County CEO cohort visited Yacht House Marine, where they had the opportunity to spend time with owner Sheldon Graber. This visit gave the students a firsthand glimpse into Sheldon’s world and his renewed dedication to the maritime industry.
Sheldon, a seasoned entrepreneur and dedicated mentor, has had a significant impact on the local business landscape, including supporting Washington Brake and Alignment, a thriving business he helped guide. During the visit, he highlighted some of the essential steps and principles he believes are necessary before launching any business.
Key Insights Shared by Sheldon:
1. Know Your Expenses from the Start
Sheldon emphasized the importance of understanding all expenses "before you turn on the lights." He encouraged the cohort to consider utilities, insurance, salaries, and legal requirements as critical aspects to plan for, stating that precise knowledge of financials, rather than estimation, is essential.
2. Professionalism and Integrity
Sheldon stressed the value of integrity, punctuality, and balancing work with enjoyment. His philosophy centers on taking care of employees and maintaining customer satisfaction as a foundation for lasting success.
3. The Role of Non-Compete Clauses
Another area Sheldon discussed was the role of non-compete clauses, providing the students with insights into how these agreements can protect business interests and maintain competitive advantage.
4. “Start a Business with the Intention to Sell”
Sheldon shared a guiding quote, “Always start a business meaning to sell your business,” reflecting his belief in building a business that is structured, valuable, and ready for future opportunities.
The Daviess County CEO cohort expressed their gratitude to Sheldon for his time and valuable mentorship. As Yacht House Marine embarks on its new journey, his dedication and commitment to entrepreneurial success continue to inspire the next generation of business leaders.