INVESTING IN CORRECT CRAFT
“Working with the Ambassador Enterprises team has not only made me a better leader, but also a better person. The Ambassador Enterprises team has the wisdom and experience to help any leader, both professionally and personally.
— Bill Yeargin, President and CEO, Correct Craft

One of the most well-known names in the boating industry is Walter C. Meloon, the founder of Correct Craft, who built his first runabout in 1925. Over the next 85 years, the manufacturer of Nautique became known for delivering a superior quality product and cutting-edge technology, along with providing exceptional service. Today, the company lives and works by the same philosophy first established by “W.C.”: build the absolute best, world-class towboats and build them to the “glory of God.”

Ambassador Enterprises acquired ownership of Correct Craft in 2008 through established, long-term relationships with the Meloon family and prior involvement with the Correct Craft board. Ambassador Enterprises, along with its Ambassador Investments division, has used the T5 Investment with Correct Craft in the following ways:

Time
Bill Yeargin became CEO of Correct Craft in 2006, and Ambassador Enterprises’ Daryle Doden spent significant time getting to know Bill and his wife Leigh prior to purchasing ownership of the company. Bill has regular access to an Ambassador Enterprises relational manager to discuss ongoing operational issues. They are in regular contact through phone calls and regular in-person visits. Additionally, a number of our team members have spent extended time visiting Correct Craft and getting to know each member of the Correct Craft leadership team more personally.

Talent
We have invested considerable talent in Correct Craft, coming alongside Bill and his team through a variety of strategic and tactical issues. The boating industry is currently experiencing the worst boating market since The Great Depression. Our team has worked with Correct Craft on its strategic plan and a variety of other issues surrounding this economic downturn. In addition, we’ve provided training on assessments, collaboration and effective problem solving.

Testimony
Ambassador Enterprises’ long-term investing perspective has given Bill and his team confidence that we intend to see them through this economic storm. Our confidence in and positive testimony about Bill and his leadership has given the whole team the assurance to tackle the opportunities and challenges in front of them. Daryle Doden has spoken to Correct Craft employees directly to communicate this important message.

Temperament
We’ve provided a number of team members to engage directly with Bill and the Correct Craft team. They’re able to offer their unique perspectives on a wide range of issues, especially strategy, operations and personnel management.

Treasure
We have invested financially in Correct Craft through our ownership stake in the organization, engaging with Correct Craft staff, and several onsite visits.

Results
Correct Craft employees have been well cared for as a result of Bill’s collaborative efforts with the Ambassador Enterprises team. For example, together we made a decision to offer twelve weeks of paid training for employees slated for a layoff. One purpose of the training was to better equip them to find future work. The additional twelve weeks of training resulted in these former employees feeling valued and cared for, and employee loyalty and work ethic among those still on the team has risen to even higher levels.

INVESTING IN AMBASSADOR STEEL
“I did not understand who I was until I came here. I have come to better understand why I do what I do. This company invests in people. The level of authenticity and transparency here is unbelievable.”
—Ambassador Steel Corporation Leader

Founded by Daryle Doden in 1974, Ambassador Steel Corporation is a fabricator and distributor of concrete reinforcing steel and related products. When the company was sold to Harris Steel, Inc. in 2008, it was the largest independent distributor and fabricator of rebar in the United States, with annual revenues surpassing $500 million.

The Ambassador Leadership approach to personal, professional and team development was first deployed within Ambassador Steel Corporation, prior to its sale. The T5 Investment was built and used in these ways:

Time
Significant time was spent developing and delivering an approach and curriculum that could be used to catapult the organization and its leaders to the next level. Senior leaders received personalized coaching time from an executive coach, worked on a personal development plan and gathered together for regular learning times to focus on subjects like personal humility, emotional intelligence, collaboration and critical thinking.

Talent
One aspect of the talent investment involved the implementation of a year-long Leadership Learning Collaborative designed to further develop the character, relationships and performance of business leaders. Over two dozen key leaders from across the organization gathered together for a three-day retreat, and again for a full day every six weeks to discuss key leadership issues and engage in interactive exercises to build community and facilitate new levels of personal growth.

Testimony
Ambassador Steel developed a market reputation of an organization that respected all persons, was collaborative, innovative, customer service-oriented and focused on excellent quality. The value proposition was such that long-standing customers were the norm, recruitment of new employees was simple and retention of current employees was high. All of this success was in no small part due to the culture that was so carefully developed.

Temperament
A number of leaders team-taught during meeting times so that a variety of perspectives were offered to the organization.

Treasure
The time allocated to leader and team development within Ambassador Steel was also a significant financial investment. A good portion of employee salaries and business opportunity cost was expended in the worthy pursuit of developing healthier relationships, stronger teams and higher levels of success.

Results
Just prior to its sale in 2008, Ambassador Steel Corporation executives credited the leader and team development efforts as playing a significant role in increasing the overall valuation of the organization nearly 2.5 times in just 4 years. Team members had taken new levels of ownership for their own performance and personal growth, and became more active in coaching themselves and others to higher levels of achievement. Personally, team members were able to move toward greater levels of health in their personal relationships and this, in turn, created fewer distractions during their time at work.

INVESTING IN NEW HOPE UGANDA
“I am different because the MasterWorks team has been friends to me, my family, and many with whom I work here. It is a great way to do ministry together…I am a better leader because of the things the MasterWorks Foundation team taught me regarding trusting the intent of others, team building and strategic planning.”
—Jay Dangers, Director, New Hope Uganda

Background
Founded by Jay Dangers with Jonnes Bakimi, New Hope Uganda is an orphan care ministry in Africa focused on bringing “the fatherhood of God to the fatherless.” Their Kasana Children’s Centre is home to over 120 children and nearly 80 staff members. Essuubi Eppya Vocational Primary School provides free education, vocational training, food, medical care, discipleship and love to approximately 300 children. New Hope Academy has 85 secondary students, while New Hope Vocational Institute graduates at least 20 students each year. The New Hope Institute of Childcare and Family trains and sends over 20 people each year into the “harvest field” to work with orphaned and destitute children across the world. Kasana has hosted thousands of teams, short term missionaries and visitors, with each individual contributing their own part to the “Kasana Story.”

MasterWorks Foundation was privileged to become a part of that story in 2001. Here’s how we used the T5 Investment to build that relationship:

Time
MasterWorks Foundation team members began visitng with Jay and Jonnes in Uganda one to two times per year, taking the time to know the leadership and staff intimately. This allowed us to build a strong relationship of trust and we were able to freely dialogue about the personal and organizational opportunities and challenges the leaders faced.

Talent
As we invested our time, Jay and Jonnes inquired about having our team facilitate training times for their teams on various organizational issues, including strategic planning, succession planning, leadership development, collaboration and effective problem solving. They also asked us to serve on their board.

Testimony
We have been able to include Jay and Jonnes in several recent international gatherings of our key partners. There, we were able to connect them with other like-minded ministry leaders.

Temperament
We have sent multiple team members to visit New Hope Uganda, each bringing their unique perspective. Some of these team members are gifted relationally, while others were more administratively gifted. New Hope Uganda benefitted from their diverse input.

Treasure
Building on the foundation of our time and talent investments, we have invested financially in the development of New Hope Uganda marketing materials, buildings and land, all for the purpose of helping them equip and train the children they care for.

Results
New Hope Uganda is a more effective and focused organization. They have also inspired our MasterWorks Foundation team to grow in many ways.