Endurance sports (Ultra Running, IRONMAN, Marathons) and high-speed sports (Downhill Ski Racing, Skeleton) – what drives a person to these extremes? Is it the thrill of the race? Or the agony of putting your body through unimaginable feats and coming out the other side knowing that you could endure?
I have family that compete on both sides of the sports spectrum – speed and endurance. Both require grit, mental, physical and emotional strength. Neither speed nor endurance is better. They just are.
Now, I'm not a runner. I'm not a thrill seeker. I don't enjoy doing things that, say, thrust me down a ski slope at 70 miles an hour on hills so steep I couldn't even stand on it if I tried! And you'll never see me running a marathon. But I admire and truly respect those who compete for the love of their sport, to challenge themselves and feel alive, to give it their best. And, they have taught me so much about what it means to live life fully. It's not necessarily about winning or being the best, it's about the journey. Someone dear to me taught me that. There is a balance between giving our best and ultimately knowing when it's time to take a rest.
I don't think any of us have to experience the "thrill of victory and the agony of defeat" in sports to figure out that we can't do any of this alone. Athletes of all kinds need support, encouragement and belief from others that they can do what they set out to do. An "I believe in you" or "You can do this" goes a long way.
Entrepreneurship Is a Team Sport
And so it is with entrepreneurs. There are some in it for the speed of growth, others for the long haul of growing a sustainable, community driven business. We need both kinds of entrepreneurs. And they need us to give them an "I believe in you" or "You can do this" once in a while.
Entrepreneurship is a team sport – people in your orbit matter. Impact Investing is an endurance sport. As an investor, the Flexible Capital Fund is in it for the long haul with our portfolio companies. Yes, we bring flexible risk capital to help businesses grow, but once the money is in the account, we don't just watch the replay, we run alongside them offering support along the way. We're the spectators cheering them on and offering perspective when it's needed.
A Perfect Storm for Rural Entrepreneurs
I've been doing the work of impact investing for over 15 years, and I can't remember a time when it has felt harder to start, grow and sustain a business in rural New England than now. We are in this perfect storm of:
- Tariffs
- Soaring gas prices
- Divisive culture and social unrest
- Lingering COVID challenges (e.g. supply chain, cash flow challenges from never having gotten back to the sales you had before COVID)
- Retraction of federal funding
- Uncertainty in the stock market
- Climate change impacting weather patterns
- AI (pros and cons)
- A more conservative funding ecosystem – both lenders and equity investors – who are less willing to take risk in tumultuous times
Yet we are still seeing visionary entrepreneurs in rural communities solving real and pressing issues in new and innovative ways, including companies like Up End This manufacturing accessory dwelling units for affordable housing in Barre, VT; Glavel manufacturing foam glass gravel from recycled glass for road and building infrastructure; Tanbark Molded Fiber manufacturing compostable packaging to replace single use plastic using wood fiber from the Northern Forest of Maine; and Global Village Foods making allergen free African cuisine (meals and snacks) sourcing ingredients from local and regional farmers.
It's Time to Celebrate Them
I'm amazed at how so many entrepreneurs keep slogging along, doing their best, to make the world better - despite what feels like a never-ending marathon. They're in it for the journey. It's time to celebrate them and give them an "I believe in you." Like elite athletes, they've put everything on the line for their company, their employees, their customers. Like elite athletes, they have grit, mental, physical and emotional strength. But in these challenging times, they might stumble, fall back, go off course. They might feel like the underdog.
So today if you know an entrepreneur who is living their challenges deeply, and who just needs to know what they're doing matters, let them know you care. Give them an "I'm proud of you" and "I believe in you." You never know it just might make a difference.
Inspired by my adult children.
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