A Vietnamese immigrant named Richard Van Pham was rescued in mid-September by the U.S. Navy after spending three-and-a-half months adrift at sea on a 22-foot boat better suited for short jaunts across a bay than the 2,500 miles it apparently traversed.
The 62-year-old Pham was not part of some reality TV show-inspired endeavor for personal glory and fame. Rather, he had embarked on an innocuous 22-mile trip from Long Beach, Calif., to Catalina Island when a storm blew in, broke the boat’s mast and damaged its motor and radio.
Helpless and disoriented, Pham drifted out to sea. He eventually reached the waters off the coast of Costa Rica, where the U.S. Navy happened upon him.
Pham could have easily died; the odds were against him. Instead, he used the meager tools at his disposal — wood paneling from the boat and a five-gallon bucket — to catch and roast sea birds and collect rainwater.
The situation bears resemblance to that of many beleaguered business leaders stranded in rough economic waters. Instead of sharks, wind and inclement weather, they face a taut credit system, volatile stock market and mounting losses, with no lifeline.
Like Pham, in order to survive long enough for their luck to turn, they need to use the tools they have available — cash reserves, stable customer bases, able employees and strong supplier relationships.
True survival skills aren’t taught in business school; they are learned only through experience. And because of the strong ’90s economy, many younger CEOs and presidents have little real-life crisis experience to draw from. The bitter prospects of bankruptcy, takeovers and shuttering companies are tough pills for them to swallow.
There are those who panic in such situations and others who remain calm. Both may employ similar measures. But only those who reduce expenses such as salaries, marketing budgets and capital expenditures without cutting off their company’s ability to enhance and service existing business or bring in new customers will weather the storm.
Only Pham knows whether he panicked as he sat alone, night after night, wondering if he would ever reach land alive. We do know that he never gave up, and that his survival skills were put to the test.
His ability to use what was available and live to tell about it is a lesson any business leader can learn from.
