LIFE IN SEVEN QUESTIONS

LIFE IN 7 QUESTIONS

Founder of Gray Stone Advisors, James ‘Jim’ Lara has more than 40 years’ experience in executive leadership. His company helps clients optimise the efficiency of their flight departments.

LIFE IN SEVEN QUESTIONS

LIFE IN 7 QUESTIONS

Founder of Gray Stone Advisors, James ‘Jim’ Lara has more than 40 years’ experience in executive leadership. His company helps clients optimise the efficiency of their flight departments.

How did you get into business aviation (or supplying services to the sector)?

I have always wanted to fly. But more than that, my passion has been to combine my commercial business pursuits with the challenge and joy of aviating in complex environments and aircraft.

My first opportunity to put this combination together was early in my business career when I worked for Levi Strauss & Co. As a regional production manager, I was tasked with leading five facilities, all located in the US Southwest. I quickly discovered that driving to these facilities took way too long and was quite hazardous. So, I began using a Beechcraft Bonanza to visit every facility every week. The productivity benefits were nearly immediate and sustained. This was my introduction to the value created by business aviation.

What advice would you give to your younger self?

The best advice would have been to achieve a more balanced professional and personal life. I have always been goal-driven and performance-driven. Work/life balance was most often out of balance. Tackling professional challenges yielded significant satisfaction. That required sustained focus. And that took a personal toll. As I matured, a greater balance was achieved.

What was your best business decision?

I left the predictable progression up the corporate ladder of large, public companies and transitioned to the turnaround of underperforming firms in the wholesale distribution and retailing sectors. With other collaborators, we formed a modest leadership team to focus, serially, on companies in cities throughout the US. This honed my leadership, problem solving and financial skills while providing the opportunity to continuously develop in business aviation, which we employed to keep our leadership teams tight while optimising far flung regional operations.

Is business aviation in the climb, the cruise or the descent and why?

Yes. All three. The assessment of business aviation’s strength must be done at the individual user level. Aviation’s performance, as an industry sector, cannot be assessed at the aggregated level. The most effective method to determine if business aviation is being utilised in an adroit manner is to study the level of success that is being achieved by the user. If aviation’s value proposition for the host enterprise is not defined and/or actualised, aviation becomes nothing more than a significant cost centre. On the other hand, if aviation is utilised as a strategic tool enabling outstanding performance by the host enterprise, it becomes one of the key contributors to enterprise success.

How do you relax?

When flying our firm’s business aircraft my mind is completely focused on pilot-in-command responsibilities. Mentally, there is simply no room for anything else. And flying is completely different from the duties of my day job.

Following a rewarding and challenging flight, a sense of calm reflection and enjoyment are with me for the remainder of the day and evening. There’s nothing like it.

What’s your favourite aircraft and why?

Without question, I am a Falcon Jet fan and advocate. Having had both the distinct pleasure and honour of flying Falcons over many years to a plethora of domestic and international destinations.

Tell us a secret about business aviation?

Adroitly employed, business and private aviation can create this planet’s only non-renewable resource – more useable time.

Modern aircraft emulate the environments that are most valuable to the traveller – the executive office, collaborative boardroom, rejuvenating retreat or, most commonly, all three.

Helping hand: James Lara’s Gray Stone Advisors helps clients optimise flight department efficiency.

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Megan Kelly, Reporter, Corporate Jet Investor

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