How Private Plane Gave Entrepreneur Time With Kids

The benefits of private airplanes go further than simply making business travel more efficient. Loral Langemeier tells Fabrizio Poli how her Beechcraft King Air enriched the time she could devote to her family, too…

Growing up on her family’s farm in Nebraska, even from a young age Loral Langemeier was never happy sitting back, becoming part of the small-town status quo. At age 19, while paying her own way through college, she created a business specializing in corporate wellness and human performance.

As a personal trainer and aerobics instructor, she taught between 16 and 18 hours per week, while earning a double degree and playing basketball for her college team.

Loral graduated from the Wesleyan University of Nebraska with bachelor’s degrees in Business Administration and Finance, followed by a master’s degree in Exercise Physiology.

Following graduation, Loral contracted with Fortune 500 company Chevron to teach health, fitness, and nutrition to workers on oil rigs off the coast of New Orleans – and at the age of 24 she entered a new contract with Chevron to build over 200 fitness centers on offshore rigs, partnering with a Professor of Engineering and a team of students at Louisiana State University.

Loral rose to a senior-level with Chevron in San Francisco, spending a total five years in corporate America. While continuing her own businesses on the side, she developed her ‘secret formula of the wealthy’: To manage and build a portfolio to create even greater wealth.

After meeting Robert Kiyosaki in San Francisco (before his Rich Dad, Poor Dad series), Loral created the distribution system of his financial board game Cashflow as a teaching tool for those who want to go back into entrepreneurialism. She approached Kiyosaki about helping expand his cash-flow game, working with him as a Master Distributor until 2001.

Loral has been a partner or sole owner in well over one hundred for-profit and non-profit businesses since she started her first business while still in high school. And she has operated successful businesses in a wide variety of sectors, including real estate, gas and oil, restaurants, marketing, sales, insurance, publishing, car dealerships, entity formation, and recently NFTs. She has learned many valuable, first-hand business lessons during her more than 30 years of business ownership.

Loral is author of a number of New York Times bestsellers, including, ‘The Millionaire Maker, Guide to

LORAL AND FAMILY WITH THE KING AIR SHE OWNED FOR SEVERAL YEARS

up and go and produce, using her King Air as a business tool has been key to her.

In fact Loral’s son Logan has taken a keen interest in flying, and once he completes college will fly his mother’s next aircraft.

Loral expresses surprise that relatively few women entrepreneurs are business jet owners, given that it allows you to work and spend more time with your kids – and is therefore a great balancing tool for the “mompreneur”.

Don’t Judge a BizJet by its Balance Sheet

According to Loral, too many business owners and entrepreneurs still look at private jet ownership as a ‘no-no’ after merely looking at the balance sheet. What they don’t realise from that narrow focus is that the benefits outweigh the cost.

Loral simply could not live where she does and travel as much as she needs flying on scheduled airlines. It would take her 2-3 times longer and be more stressful. She also points to the tax incentives of private jet ownership.

In fact, she reckons more people are going to be buying smaller, shorter-range jets and turboprops, capable of optimizing 1.5-to-two-hour flights. Smaller business aircraft will enable their owners to fly out for a meeting in the morning, returning that evening – or perhaps visit 2-3 locations in a single day.

Many of these potential buyers Loral believes will step into the Business Aviation arena were flying with the airlines before, and are now finding the destinations and/or frequency on the routes they require are no longer there.

Though Loral sold her King Air just as the Covid lockdowns came into effect, and has been chartering private jets since, with business travel now picking-up, she’s getting ready to jump back into the ownership game, but this time with a private jet.

But she’s clear that she will do so not only as an investment in a business tool, but also to create more time with the family.

More information from www.orvilleaviation.com and www.bizjettv.com. ❚

FABRIZIO POLI

is Senior Consultant at Orville Aviation. He is also an Airline Transport Pilot. Mr. Poli has over 35 years’ experience in the aerospace sector, both as an aviator and in business. Fabrizio is also founder of popular YouTube channel, Biz Jet TV.

Visit Biz Jet TV at www.youtube.com/channel/ UCavizueJievdH4TwxiSlX3g

Teaming up with former fighter pilot, Kyle Boeckman, Loral’s latest book is dedicated to making kids millionaires. She highlights that most wealth disappears after 2.3 generations (on average), primarily because children inherit money and assets, but their parents fail to transfer their wealth-generating mindset.

For example, Loral has raised her own two children, mostly as a single mother, teaching them that her airplane is a business tool, not a luxury vehicle.

Mentored by the late Bob Proctor in developing a wealthy mindset, she’s an advocate of teaching people financial literacy, noting how so many people build wealth, then get too busy with their businesses to spend time with their family, subsequently failing to take the time to help their children develop a wealthy mindset.

Of course, owning a private airplane can be a big step in the right direction to create more time to spend with your family!