I had a meeting of my CEO Peer Group on Monday. As a treat to ourselves at the end of our 2012/2013 meetings, we met on the sailboat of one of our members, a 38 foot Catalina. Moored at an ideal spot in Portsmouth, NH harbor, we boarded quickly and were soon in the Gulf of Maine sailing out to the Isle of Shoals, about ten miles off the New Hampshire coast. The weather was spectacular – a light breeze, calm seas, and sunny, with a few puffy clouds. The forecast was for the possibility of scattered thunderstorms later in the afternoon. No problem. It took about two hours to get out to the islands, and looking back we could see some darkening, but nothing too concerning. We spent the next hour conducting our meeting, enjoying the cool breezes and the slight rock to the boat. Getting ready to go back, we noticed a significant change toward shore. Scattered thunderstorms was not quite correct. A dark mass with some ugly clouds, indicative of a front rather than isolated thermal storms, was covering the shore. Now we were concerned that the weather was going to be much worse than forecast. We decided to head back, stowing the sails and motoring at full speed. The seas and winds picked up. We headed in toward the coast, then turned to run with the storm a little to give us more maneuvering room. By the time we turned toward the coast again, the storm was upon us and we headed through it. The seas rose to six to eight foot waves and the winds exceeded 70 knots. It was more like being in a hurricane than a scattered thunderstorm. Even without the sails, the boat heeled in the swirling wind. Waves crashed over the bow. Our helmsman kept his eye on the seas and the weather, applied his knowledge of sailing and his boat, and got us through in good shape. When we re-entered Portsmouth harbor the water was calm, and the sun was out. Damage on shore was significant, including parts of a nearby dock which had fallen into the harbor. Our experienced captain said it was the worst weather he had ever sailed.
The business metaphor of this trip is too hard to avoid. Know you business. Know your markets. Look at the forecasts. Enjoy the propitious weather and the profits of a good run. Be prepared for changes. Use your skills to navigate the worst economic storms, surviving with your business and bringing it to calmer times to prepare for another profitable journey. This sounds a lot like the last five years. There couldn’t have been a better lesson for a boat full of business owners.