As many prominent aircraft brokerage leaders near retirement, the firms they represent face a serious challenge. They’ve yet to fully develop their next generation of young sales leaders.
No doubt every aircraft brokerage firm has young, eager professionals on staff—people who love aviation and are enthusiastic to learn. But newbies in high-pressure sales environments can quickly become overwhelmed. And I don’t blame them. There’s a steep learning curve to this complex business, one that requires deep industry knowledge and strong negotiation skills. Not to mention building an extensive network of high-net-worth clients.
Without structured mentorship and proper training, a developing junior sales director will stagnate. Such a lack of commitment from the top brass can lead to high turnover, inconsistent results, and potential reputational damage to the brand.
Key Success Factors for Aircraft Brokerage Firms
We often hear that aviation is a unique industry, and it’s true. Although sales volume may be low, the stakes are incredibly high. There’s a premium placed on relationships and trust. In order to succeed, brokers must consistently prove that they are credible, likable, and trustworthy. And they absolutely must leave their legacy with well-trained junior staffers to fill the void.
But the question remains, how can brokerage leaders bridge the gap as pressure mounts prior to their retirement? Their survival hinges on how effectively they can transition leadership and replace themselves with a new generation of strong, competent and strategically-minded leaders who can hit the ground running. Without a qualified pipeline of younger talent, firms whose leaders are retiring may not only lose experiential knowledge. They’ll also lose clients to competitors—especially ones with more robust leadership development and sales training programs.
The bottom line is that brokerage firms without successful transition plans will struggle. They might not be able to keep up with evolving market conditions. They may miss out on shifts in buying styles and technological advancements. Building a strong team of junior sales directors isn’t just about succession. It’s essential for sustained growth and competitiveness.
About the Author
Dustin Cordier is a Certified Exit Planning Advisor and EOS Implementer®. Through his firm, StepZero Coaching, he helps aviation entrepreneurs create freedom, growth and legacy, while coaching aspiring sales leaders using his aircraft brokerage expertise. Connect with Dustin at stepzerocoaching.com or on LinkedIn.