Alright – so today we’ve got the honor of introducing you to David Fisher. We think you’ll enjoy our conversation, we’ve shared it below.
David, thanks for taking the time to share your stories with us today One of the toughest things about progressing in your career is that there are almost always unexpected problems that come up – problems that you often can’t read about in advance, can’t prepare for, etc. Have you had such and experience and if so, can you tell us the story of one of those unexpected problems you’ve encountered?
First my brother and mentor died 4 months after we opened the company. I fully resolved the issue by educating myself from being an aircraft mechanic into an aircraft sales person with relatively no one to turn to for advice. Then there is 9/11 that really impacted the economy and aviation … coupled with the great recession in where aircraft dropped in value up to 60% making many obsolete.
One of the biggest impacts on my business is the advent of the fractional ownership companies such as NetJets who not only were selling fractional shares to customers that would normally purchase an entire aircraft.. and then those fractional companies would then sell the used aircraft themselves directly to end users eliminating the need for brokers. They really redefined the industry.
I responded early on by getting my certifications as an aircraft and helicopter appraiser over two decades ago which set me apart as an expert and a consultant allowing me to generate revenue in different areas of the industry, more as a professional services provider who also found and acquired aircraft for selected customers.
David, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?
I started out in aviation by enlisting in the USAF as a crew chief on the A-10 Warthog fighter jet. A crew chief overseas all maintenance events on the aircraft. Then the base commander had me learn and crew chief the Beechcraft C-12 Huron which was the King Air 350 (super King Air) military equivalent and then eventually the C-20 which was the Gulfstream GIII.
While in the military, I studied at Embry Riddle Aeronautical University (European Campus).
So I became very familiar with civilian aircraft and that career carried over to my position at GE Capital Aviation for the next 9 years.
My brother and I started Fisher Global Aviation January 1, 2000 and he died (plane crash) April 2000. About a year later I changed the name of the company to Western Aviation and hired sales and research professionals.
I am most proud of my ability to see the light at the end of the tunnel and with determination, hard work, luck and grit, I have become successful.
How about pivoting – can you share the story of a time you’ve had to pivot?
I’d say in 2008/2009 I really had to pivot as due to the fact that the market really collapsed and aviation values had really just dropped so much. that no one was buying or selling. So what did I do? I really needed an income. I had money so I started buying foreclosures. I would use the cash I had to purchase them with a down payment. I would pay cash for the repairs and at 20 houses I was able to generate a decent recurring monthly revenue.
I then took the remaining money I had and I purchased a self storage facility and fixed it up and leased it up! What a great investment.
Now I own a large co-working space, storage and warehouses… I got bit by the commercial real-estate bug! The recurring revenue would be helpful especially during the ups and downs of the economy like the pandemic when again people were not buying or selling aircraft.
The realestate has been my rock. Aviation has been my pleasure.
Has your business ever had a near-death moment? Would you mind sharing the story?
I once had 27 employees during the peek times of Western Aviation. I always looked to increase my lines of credit when I did not need the money as with the cyclical nature of aviation sales … I knew that it was always good to have those lines of credit when times would come around that I needed those funds.
Many times I needed to draw on those funds to meet payroll only during downturns and really needed those funds in 2008/2009 when I held out too long waiting for the economy to turn before I had to layoff the majority of my sales and researchers.
That was a near death moment for the business but again I pivoted and survived.
I thankfully have never missed payroll (except to myself) and I never closed the business although many times I did think about it. Sometimes seriously.
Contact Info:
- Website: www.westernaviation.com
- Facebook: https://www.facebook.com/search/top?q=western%20aviation
- Linkedin: https://www.linkedin.com/in/david-fisher-4a76b8/
- Youtube: https://www.youtube.com/watch?v=43jU_C7WJUE
- Other: https://www.youtube.com/watch?v=8o6bfy-G9Q0