Pursuing other interests

Early this week I read the obituary of the firm that used to sign my checks. The company had followed a now-familiar arc: founded confidently with early customer commitments, fast-growing in a hot market, took on costs in advance of revenue, downsized to balance the books when the market cooled and then, when too many bad decisions piled up, was forced it to sell itself to survive. Now it’s gone; its people folded into a sister firm.

Press reports noted the CEO would not make the jump, but instead move on “to pursue other interests.” Even if the code phrase were not so common that it still required a key, those of us who know would not be fooled by the misdirection. The CEO had no other interests.

I was surprised the news provoked no satisfaction. The future was clear three years ago when many of us moved on; why no “I told me so” moment? Instead the emotion was sadness because it did not have to be this way.

The old firm was full of smart, committed people. It had a good market reputation. The economy for its products and services had begun its rebound. And every one in the industry was in the same boat; no one had a structural advantage. So what happened?

The CEO who now has so much free time, didn’t take the time to listen. There was too much talking; and no one learns by talking, particularly in business which is a team sport. Without a real “back-and-forth,” lessons are never learned, opportunities are lost and the brightest future dims.

The best businesses are linked by a shared commitment to a mission, market and method. Try it any other way and we’re all independent contractors, just renting a table at the flea market.