First, my apologies. It’s been a couple of weeks. If you know me, you know that another passion of mine is civic engagement and encouraging everyone to participate in the political process. That’s where I’ve been.
I think there is something to learn from what we’ve witnessed in the political arena over the last couple of weeks. Although it might feel like a lifetime now, it was only 18 days ago that President Biden announced he would not seek re-election. In that time, Vice President Harris has become the party’s nominee, selected a Vice President, and raised over $300 million, with 66% of those donations coming from first-time donors. What is the business lesson in this? Things can change quickly.
I know for many business owners, this is a tough season. We’re collectively facing new challenges: it's harder than ever to raise capital. Capturing and growing revenue in an uncertain economy is challenging. Staffing, compliance—the list goes on and on. The thing that I keep telling myself and our team is that things can change quickly. Vice President Harris spent 1,296 days as the VP of the United States before the events of the last 18 days. Like us, she probably wasn’t expecting this new season and was likely focused on the daily grind. I’ve long maintained that entrepreneurship is a marathon, not a sprint. Despite the ups and downs, staying committed - having endurance is often the key. A new season could be right around the corner, and it’s crucial to learn everything in this current season to prepare for the next - because it’s likely coming in hot.
Another thing I’ve been thinking about is the importance of staying ready so you don’t have to get ready. How many of us could handle a diligence call if someone wanted to have it today? Is the deck ready? Data room complete? Background research finished? One thing the last couple of weeks watching the Democratic party’s campaign has shown me is that you’ve got to be ready to hit the ground running. When the season changes in your business, that isn’t the time to start thinking about all the things you need to start getting ready. Prepare now. Prepare even though it doesn’t feel like you have any reason to. The breakthrough in all of our businesses is coming, but I think we all have to be collectively ready to catch it.
As we’ve just seen, a lot can change in 18 days. Keep trying new things and experimenting with new solutions. You might spend 1,296 days in this season, or you might spend 25. In either case, the best thing we can do today is to keep grinding it out and be prepared for what’s next. I’ve said before that I don’t believe the things we dedicate our time to in business are random. So if you aren’t in the season you hoped you would be in, keep going. A new season is loading, and life could be incredibly different in just a couple of weeks.
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