Spending most of my time at the sea has taught me a lot of things. I have had some of the most incredible experiences in my life at sea, having faced many obstacles and successfully overcome them one at a time. A Mariner’s life is not simple. I’ve made a lot of sacrifices and through a lot of suffering. Nevertheless, I am grateful for my life as a Mariner because it has ultimately led to good things for me.

I am writing this blog for other aspiring young mariners who are just starting out in this field. Although difficulties can arise, using specific tactics will help you keep your place in the maritime sector. I am going to highlight the strategies that I have applied previously, which have helped me to sustain myself in this industry for two decades.

I hope the strategies that I am going to discuss, help you to overcome any difficulties that you might be stuck in. I am writing this blog from my experience. If you are a maritime professional, then this blog might be a significant help for you.

The valuable 10 things:

 Financial management

Planning finances is the key to success. You have to monitor your financial performance frequently. Maintaining accurate financial records and taking informed financial decisions is extremely important. I have mentioned earlier that living life at sea is full of uncertainty and hardships. At this point in time, any type of financial crisis will be extremely difficult for you, which you may find impossible to overcome.

Spend every penny wisely. You can develop assets but do not invest in something that might become liable for you in the future. I used to avoid buying high-end cars because while being at sea, things like this didn’t matter. It is important for you to periodically review your financial situation. Prevent yourself from unnecessary spending. Start appropriate financial management from the initial years, for a secure future.

Value Networking

The maritime industry is constantly evolving. From my initial years, I have seen this industry transform in ways, which was previously inconceivable. You also need to evolve, in order to cope with this transformation. According to me, one of the most significant ways to sustain in this highly competitive industry is networking. You need to build relationships with your peers in this specific industry. Maintain a healthy relationship with the customers and suppliers to gain insights, and learn from others. I like to emphasise networking because it helps you to earn efficient business opportunities.

Market research

You have to understand your industry. Focus on the changes happening in the industry in order to analyse the existing opportunities. I used to read the news and pay attention to industrial reports, notices, checklists, and many more. It helped me to stay updated. My experience suggests that opportunities cease to exist if they are not nurtured. There are several opportunities waiting for you. All you have to do is to keep researching and staying updated.

Regulatory compliance

You must be aware of the fact that there are thousands of laws and regulations that are governing the maritime industry. Over that, the amendments in the convention change frequently. Keep checking the publications and notices, before indulging in any operation. There are some important regulations, which I used to keep track of such as safety and environmental regulations. In addition, you also need to obtain the necessary licences as well as certifications. Do not do anything against the laws, because it will be deemed illegal. I have spent so many years in the maritime industry, and I still never fail to check on the laws and regulations frequently.

Risk management

You have to identify and manage the risks associated with your company in this industry. Some of the common issues that create the most harm are accidents, natural disasters, and piracy. I used to perform risk analysis regularly. It helped me to identify the potential risks. You will be able to prevent potential risks by mitigating any chances of crisis. Risks are not inevitable, and you can overcome any crisis situation with appropriate determination.

Innovation

You can constantly seek opportunities to innovate and improve your company. It is beneficial for you to stay ahead of the competition and meet evolving customer needs. Innovation is not limited to technology only. You can take innovative business strategies, which are widely accepted by the customers. To grab the opportunities existing in the maritime industry, you have to be innovative.

Technology

Keep abreast of the most recent technological developments in the maritime sector and implement them to boost productivity, cut expenses, and improve the quality of your goods or services. During my initial days, there were limited technologies available. However, I have seen technology evolve. Utilise these technological advancements in the right way to take your company to new heights.

Focusing on personal interests

Do not leave behind what you prefer. Working in the maritime industry can be hectic. Focusing on hobbies can be difficult, but while being onboard, pursuing certain interests to keep the tiredness at bay is important. I used to read tons of books, in order to remain energised every time.

Upgrading skills

I have previously mentioned that the maritime industry is constantly changing. If you want to cope with the constantly changing industry, you need to work on skill development. Adding certain skills will help you achieve growth in your career. From data analytics to scuba diving, you can select any skills, which will help you to develop both career and personality-wise. I have been present in the maritime industry for a long time. After so many years of experience, I still thrive to acquire new skills. Never stop learning, because there is always something new to learn and an opportunity to improve.

Marketing and branding

This is the era of digitalisation. Maintaining a strong digital presence is the key to the success of the business in the current market. You need to develop a strong brand image and a marketing strategy that helps you to promote your business and attract the attention of a targeted audience. Focus on creating a digital presence that is valued by the customers. You can share exciting stories and experiences at sea life through digital platforms to attract rightful customers for your maritime company.

All throughout my journey as a Mariner, I have experimented a lot, faced various obstacles, and managed to overcome difficulties. I still feel like I should have applied all these strategies during my initial days. However, if you have a target to reach the top position of the maritime industry as an entrepreneur then applying these strategies will be appropriate for you.

I have one suggestion for you, which is that you should take decisions after analysing every possibility. This industry is not easy, but sustaining in this industry is not hard either. Be considerate of yourself and apply these strategies to become a successful maritime entrepreneur.