Long time, no talk.

I know you've been as busy as I have—working, adjusting, and leaning into all of the changes none of us asked for.

First and foremost, I sincerely hope that you and your loved ones are healthy and coping through these unprecedented times as best as possible. Try as we may have, there's no way we could have prepared for what 2020 had in store—mentally, physically, financially, or otherwise. 

Since normalcy as we knew it came to a screeching halt, I've sat down a number of times with the intention of jotting down some of my thoughts. But each time, I didn't have it in me to write. Nothing quite like a global pandemic to take it all out of you.

Unlike me, big brands caught up quickly with their messaging, as usual.

Within a few days, my inbox was flooded by every company and their dog's canned PR emails. I thought the last thing the world of email-receivers needed was another sympathy template?—especially from me. 

I also found myself really struggling with my own personal variety of business PTSD, having gone through an exceptionally tough stretch during the previous financial crisis.

At the time, I was in the real estate business, and I found myself completely exposed when the market cratered. I lost everything I had ever made (and then some), and to top it off, I almost lost my friends and family in the process.

Thankfully, we survived that. Both the recession and the comeback made me the husband and businessman I am today. "What doesn't permanently financially ruin you makes you stronger, albeit traumatized," and all that.

For what it's worth, I'd like to share some of my thoughts & tactics we've employed since this whole thing started.

For me, I've tended to prepare and manage this much like I do one of my ultra endurance races. And speaking of endurance, yes, I believe this is going to be a long, drawn-out event; not a sprint as some have hoped.

A strong foundation

As Warren Buffet said, “Only when the tide goes out do you discover who's been swimming naked.”

Every training plan for an ultra event calls for a long and robust foundation-building period of training known as LSD, which stands for "long slow distance."

Without this foundation, you can't move on to specific aspects of training for an event and will be vulnerable come race day. The same principle can be applied to business.

The effects of the pandemic will act as a retreating tide, and we'll begin to see which businesses stand upon a real foundation—and which will be bait for the next cycle. 

Thankfully, we had a robust portfolio heading into this whirlwind, and we keep that in mind as we evaluate new opportunities. Come what may, we'll never compromise on protecting our foundation.

Focus on nutrition

Nutrition plays a key role in completing any endurance event, but I also know how important it can be in overcoming the challenges all business owners go through on a daily basis. 

This is especially critical when physical activity is limited due to shelter-in-place orders and unusual family demands, such as homeschooling.

We have to fuel ourselves properly for the sustained efforts required to keep up, and working from home can make this even more challenging with easier access to the kitchen (where the snacks live). 

This isn't the time to go on a new diet or make drastic lifestyle changes, but we can't slip back into old bad habits, or worse, fall into destructive new ones. 

Personally, I haven't done great on this front and have been hitting the trail mix way too much during the day, so I'm talking to myself here, too.

Look forward

“It almost always never gets worse."

This is one of my favorite quotes from ultra racing legend Ken Chlouber, founder of the Leadville 100 in Colorado, and it's always resonated with me during a race's most trying moments.

I focus on it when I'm in a very low spot, feeling like I can't go on.

It seems fitting today, and while I know we're still in for more bad news—and most tragically, more loss of life—I'm hopeful that what's to come won't be as devastating as some predictions would indicate. I hope that we've done enough as a country to bend the curve and land on a long-term solution.

Pace yourself

Like I said, I don’t think this is going to be a quick lap around the track.

I think we're in for a long period of significant market fluctuations, floods of good news and bad news, and general uncertainty, none of which is a positive for most businesses.

When this started, I did a terrible job of adjusting, immediately shifting to working 15+ hour days, 7 days a week, and twice on Sunday.

I never stopped thinking about work and what I could be doing for the business. In retrospect, I'm pretty sure my CFO would have fired me if I sent her one more email at 3 AM with a new to-do list to knock out.

But while we needed to sprint at the beginning, that pace isn't sustainable for anyone, and we've been forced to settle back into a reasonable pace of focused efforts.

Burn the candle at both ends, and you're bound to run out of wax.

All in all

One thing we all have in common during this time? Experts and novices alike are flying by the seats of their pants.

I'm sure many of you have taken similar measures to adjust, and I'd love for you to pass on anything that's helped you navigate this new business ecosystem.

Any nuggets of wisdom you can share are welcome, and I wish you the best as we ride this out.

Until next time,

Jason