When did “Startup” become a dirty word?

When did “Startup” become a dirty word? A really, really dirty nasty word!

Over the years I have been very successful as both a professional pilot and as s business aviation entrepreneur.

A few of the companies I have created and started are Midwest Air Charter out of Cleveland Ohio in 1969. That company went on to be known as Airborne and today is called DHL.

In 1988/89, I also created and started Jet Support Services Inc., aka JSSI. Today JSSI is the largest supplier of NON-OEM jet engines programs in the world.

And in between building companies, I was the chief pilot for Mercedes Benz AG/NA from 1976 to 1988. So I am what you call knowledge rich.

Now I have created the best and biggest opportunity in all of business aviation

A business aviation system capable of generating billions of dollars in EBITDA profits. A system that is inexpensive to start, features a very low overhead, zero liability, low risk, and no FAA in phase one. A business capable of generating billions in EBITDA.

Obviously, this is a multiphase system, but through pure genius, phases two and three are self-funded through phase one. Meaning that the development costs are very low.

This system is not only proven but will change the way business aviation works. It is a new paradigm. In fact, once all three phases of this system are up and operating, this system will be instrumental in replacing charter and fractional. I am not exaggerating here, just stating a fact.

But there has been one little hitch…it is called a “start up!” Anytime you want to empty a public building there is no need to say “Fire” anymore. Just say “Startup, ” and you will empty that building faster than if it really were on fire.

When I build the highly successful businesses I did in the past it was not like it is today…back when new businesses were starting, growing and developing if you had a good idea and the knowledge to make it work, bingo you were in business.

In fact, the first company I started did not even take asking for money…I was employed in 1968 to fly checks for a local bank in Cleveland. Cleveland, Pittsburg, LaGuardia, Philadelphia and back 6 nights a week. A year later I received a phone call from the Federal Reserve Bank in Chicago telling me they were tracking me. OK, what for I asked…

They told me that they had a problem that they wanted me to fix…OK, what I asked again…so they invited myself and my partner to Chicago to tell us that they had this stuff to move and had been using a major airline to move the stuff, but they only were on time at best 44% of the time deliveries…They tried a charter company, and they made it 80% of the time…But I had been making it on time over the last year 99.75% of the time…And the stuff they wanted to move was over $800 billion in checks or what they called float every week…Back then there were no computers, which is how they move the checks today, but back then it was in canvas bags in the back of aircraft.

So, came Midwest aircraft operating 55 aircraft, flying 72,000 miles every night six nights a week, and we delivered 99.75% on time. No problem starting that company.

With JSSI it only took ten days and a ten-page business plan. The ten pages included the blank front and back cover, a table of contents, and seven double spaced single sided pages. What it did have was the right information in those seven pages, and it took only one person to recognize it, and thirty years later JSSI is still going strong world wide.

So now I have this newer, and much better idea than anything before, and all I get are blank stares.

So, my question is when did start up become a dirty word? Exactly.

What is going on with investors and business development people? Unless you have a system that is already either been maxed out or is just plain foolish, no one will talk to you about it?

Now, I have a billion dollar plus business concept that will change the business aviation industry completely, forever, and for the better. But obviously, I must be talking Klingon or something. Because as mentioned all I get are blank stares. And I think I have come to realize where the blank stares are coming from…Money managers (they used to be called “Investment Bankers” until they were outed after the sub prime disaster…but now they are back as Money managers)….I think the kind of people that used to invest in start ups have been conned into investing into so called money markets or hedge funds. And those markets and funds are simply wrecking the future of this country. When the next financial disaster comes along and everything comes apart, and you want to do know who to blame (lynch)…money managers and hedge fund managers are where you want to start.

So, I decided to write an article (in English) in the business development groups on LinkedIn to find out if you are there. Are there actual business development people out there? Do business development people actually develop businesses anymore or is that just a title to get a better parking space.

Oddly enough while writing this post, I just received another email telling me that if I was established for three years and making $4 million in EBITDA, “They” might talk to me…”They” would take a look at my idea…Excuse me, but does it not occur to anyone offering up equity that if I was making $4 million dollars annually, WhyTF (exactly) would I want to talk to them…at that point, that boat has sailed, long gone…and that is exactly what I am talking about…do these people not realize that you need to start a company to have a company to even look at. What Brainiac school did they get there MBA’s from, Trump University?

Another one of my favorite questions is when these Trump U and Harvard MBA’s ask you how much much money do you have in the program…another way they ask is how much skin do you have in the game…Well besides money, there is that 50 years of real knowledge and the proven track record, something they surely do not have or can ever hope to get…yet they have the stupidity to ask me what am I putting in…what I say to them and every so called business development person is this; knowledge is 1,000 times more valuable than whatever you are putting in. And what you would be putting in is money. And since the majority of you never had an original thought in your lives, and we all know the money you do use is guaranteed by the system. The system which we pay for in taxes.

I get emails all the time saying that if I was established for 6 months that I could get all the money I want…So basically If I were a fraudster or an investment banker, I could just take $10k a month from my credit cards and stick it in my business account for six months, have it audited, and tell everyone I was making that in my new business. Therefore I was not a startup and they would give me more money than I need…is that what business has come to? I guess the banks have been pulling that scam for so long now it is accepted business.

If business development people really do exist, and can actually help create a business, please contact me because I have a great one.

Rick Eriksen: email rick.eriksen@cox.net or call at 702 994 4491.

 

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