David Mendal on How to Become Rich
Let's get inside the mind of a Millionaire!
If we can go inside the mind of someone who has built a multi-million dollar company and learn how they think or what pushed them become rich; and if we model those same thought processes then we can reasonably expect them to have a positive influence on our own entrepreneurial journey. Instant riches are not guaranteed, but modeling the success of others is one of the quickest ways of wealth creation.
After listening to David Mendal talk for even a few minutes, one begins to realize why he is the head of a group of luxury travel companies whose total annual sales are topping the $100 million mark. One cannot disregard that the “can do” mindset is closely related to personal success and wealth creation. David Mendal exudes a humble confidence when it comes to that “can do” attitude. He has a simple belief that nothing is impossible! Study David Mendal’s success and one realizes it is not just a positive affirmation thrown around lightly. It is what he lives and breathes and undoubtedly what made him into the multi-millionaire travel mogul he is today.
Passion for Aviation becomes Road to Riches
Born in Bogota Colombia in 1963 David grew up in both Colombia and New York City. At a very early age he developed an interest and later a passion for aviation. As a small child David would beg his parents to take him to the airport to watch planes land and take off.
By the age of 9 David Mendal worked at the reservation desk of a Colombian airline where he would help translate. David got more exposure to the travel industry when he took a job at a Massachusetts travel firm while attending one year of high school at the private Cushing Academy in Massachusetts. David graduated from an English High School in Bogota then moved on to college where he obtained a Bachelor of Science in Business Administration from Bentley College in Waltham, Massachusetts. After college David moved to Miami Florida where he would go on to build his travel empire.
David Mendal- on How to be a Millionaire
David’s path into the travel industry was pretty well set by the time he moved to Miami. He quickly took a job at Forest Travel Agency as a reservation assistant. And just two years after walking through the front doors he was named the manager of the agency.
David relied on his knowledge of Latin America, and his contacts with Latin American students traveling to Colleges in the Boston area to develop his own client base. As the business grew and as David’s interest into the world of travel grew he made a decision to buy the company from its current owners. At the age of 21 David Mendal became one of the youngest people in the United States to own his own travel agency.
It was 1986 when David purchased Forest Travel. At the time annual revenues were about $250,000. But David set to work growing the company by developing an expertise and focusing on specific geographic areas and lines of business. David set up specialized teams within the company to focus on areas such as Latin American, Corporate and Leisure sales teams. He broke it down even further by creating specialized divisions in luxury travel and luxury cruises. As a result of his hard work and his “nothing is impossible” attitude David grew the company to $36 million in revenues by the year 2007.
Along the way David Mendal earned his own pilots license. Then, drawing on his love of aviation expanded his travel business to include brands such as Prive Jets.
In an interview with entrepreneur.com’s Teri Evans, David explained how the idea of Prive Jets came to him in the shower. According to David, he was thinking about how most of his luxury travel clients were already flying privately, but he knew they were paying fairly exorbitant prices. He knew there must be a way to for them to save money on these flights.
David came up with the idea of identifying the best maintained aircraft out there, and learning when they were flying empty such as re-positioning flights. David’s company took some existing software and tweaked it to identify these flights and collect the necessary flight information. David could now book his clients on these flights at substantial savings. Prive Jets was born and has since become one of Forest Travel's most exclusive subsidiaries. It is a leading provider of private aviation and private jet charters, offering an enhanced experience in all aspects of luxury and corporate jet travel.
Other subsidiaries of Forest Travel Agency include Prive Yachts, Ultimate Jet Vacations, Luxury Cruise Connections and Luxury Hotel Experts.
Perhaps one of David Mendal’s proudest accomplishments is that his company is one of a small handful of companies worldwide who have been chosen by Virgin Galactic to sell space travel.
Today the Miami based Forest Travel has more than 35 full-time agents, over 55 outside sales agents and has annual revenues in excess of $100 million.
More Discussion about David and his approach to creating wealth.
If you watch the above interview with David Mendal you get a clear sense of how he thinks.
Regarding problem solving David says; “There is nothing out there that doesn’t have a solution that we can’t provide. There is nothing impossible. I teach that to my people. The challenges are what make us. Don’t say I cannot do that. There is nothing that cannot be done.”
Regarding changes in the industry David says; “A lot of people are scared of changes, I love them. That’s what makes us stronger.”
If you are searching for ways to create wealth, adopting the attitude that NOTHING IS IMPOSSIBLE is a great place to start. Let this be your daily mantra and you will be well on your way to becoming a millionaire.
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