Welcome to Charting The Course, a blog where I’ll be taking you behind the scenes to talk about some of the management and business philosophies of The PowerCat Group . I thought I’d start this series with an entry telling you a little bit about myself, why I’m in the boating industry, and why I think The PowerCat Group is the right place for me.
Ever since I was a kid, I’ve always been really interested in manufacturing. In school my teacher would show the class films of how things were made, and I was always fascinated by the way all these little parts would come together to make a useful product. One thing I love about being president of The PowerCat Group is that I get to do the same thing: I’m involved in creating every aspect of a consumer product, from design to creation to market.
But why the boating industry, and why catamarans? Well, the boating industry is an interesting place. For one thing, it’s extremely fragmented: it’s comprised of around 300 boat builders making about a hundred boats a year, or 30,000 boats. In fact, the top five players in the saltwater outboard category make up around 30% of the market.
Another reason I was interested in boating is that, despite its size, it can be really insular. Very few people come into the industry from outside. Now, sometimes that can be good, but in industries like this that thrive on innovation, it can be stifling to new ideas. So one big attraction for me was to be involved in an industry where I could bring new ideas and innovative techniques from modern industries.
I was drawn to the power catamaran niche for a few reasons. One is that there were few competitors–of the 300 boat builders I mentioned up above, only five of them make cats–and none of them were doing a very good job of telling boaters about the great benefits of the ride.
But the main reason I wanted to become involved with power catamarans was simple: I truly believed in the product. It seemed to me then–as it still does today!–that cats have such a defined advantage over monohulls. They have what Warren Buffet calls a “defensible product difference.” And the difference, the smoothness of the ride, not only makes the product superior but actually enriches others’ lives. (Do you know how many people have told me they were gonna quit boating until they discovered how smooth a catamaran is?)
That’s how I became involved with power catamarans and why I founded The PowerCat Group, which is the most exciting company in the boating industry. We’re bringing modern manufacturing techniques, innovative management systems, and customer-based marketing to the world of boating. Other companies may copy our designs, but no one can copy the history, experience, and passion that The PowerCat Group has.
One example of the new ideas we’re introducing is the way we partner with our vendors and dealers. We’ve committed ourselves to truly open communications between vendors and dealers, allowing everyone to work together seamlessly and provide better service to our customers. I’ll talk about this a bit more in my next blog.
Yes, The PowerCat Group is just a small company in a big industry. And, yes, we’re part of a small niche within that industry. But we have a saying here: “It’s better to be great than big.” I truly believe we’ll succeed in the end by being better run and committed to quality and improvement. We might be outnumbered, but we’re smarter, more modern, and more committed than any other boating company.
