C.O.R.E. Notes 1 - Great plans vs basic requirements
End of financial year. . . growth, development & maturity
Given that it is almost the start of the new financial year, I am trying to process things that have happened the last few years.
How did we get here so quickly and so slowly at the same time. I am trying to take full responsibility and accountability for all that I have been involved in. At times, admitting when I was at fault and accept the decisions of others — in forgiveness, to let go and move on.
Years ago, when I decided to start IsimoVest — I knew this was the last business I ever want to build again. And I was told to the effect by my wife, that she will tolerate no other. This is it. . .
Therefore in many ways, IsimoVest is my last hail-Mary and my final chance to paint my greatest masterpiece.
This journey has been awesome, I have been able to achieve alot of intersting things over the years. Been part of special initiatives and built incredible ventures. But IsimoVest has been something out of this world for me.
We set up the fundamentals so well, and built a competency and competitive advantage that few could compete with, which is still the case today.
Yes, I am bragging, we have really done a good job. . .
The grand vision was in full swing, moving, slowly but moving.
In the midst of implementing the grand vision, I lost sight. No, that is a lie, I had absolutely no sight of the basic requirements of my team, as a group and as individuals.
My attempt was to build a great business that will yield significant value to limited partners, improve economic participation by entrepreneurs and ultimately, allow for financial return for the team.
I thought the incentives were well in place and fully understood. That was a major assumption on my part and the beginning of a two-year-long slump in performance for the business.
As I did not focus on the basic requirements of staff and invariably, advisory board, we had resignations and antagonistic behaviour across the board.
Junior analysts were fighting and openly challenging General Partners. Every meeting was a hostile place, filled with fights I thought to be quite frivolous — yet not aware of the underlying cause and fundamental reason for the altercations.
This broke trust and empathy among team members, which resulted in the business’s momentary failure.
Our culture was diminishing, and our ethos was being thrown out the window.
All those who left, I felt betrayed by.
Especially as no one addressed me personally or let me know they wished to go.
In some instances, GPs of other funds, where these individuals were looking for employment, contacted me, looking for a reference on the person leaving.
Needless to say, that caught me off guard and wounded me — dearly. . .
In retrospect, one is able to look back and break down all the moves, what was said and now have a better appreciation of people’s actions.
A focus on people’s basic requirements is core to growing a successful team and business. As we keep pushing, dealing with daily battles and ensuring survival for the long haul, I am reminded each day of the reasons why we got this business started. What our NORTH STAR has always been and, more importantly, what we think of our contribution to the further development of this space.
We are in no shape where we would like to be, but daily we have wins we are proud of. Placing a single brick on this building and house we call IsimoVest.