Thinking back to my youth, I remember that going back to school was an exciting and stressful time.
It was exciting to see old friends and get back into a routine and have some new social interactions. It opened a new chapter, with new activities, sports, and classrooms. The teachers were also excited and made you feel welcome. Parents were encouraging, excited and supportive of the whole process. But it wasn’t all rainbows and unicorns. I also remember being scared as hell. Some kids may have had their friends, but you weren't necessarily part of their club. It wasn’t easy to make new connections. In the end, you relied on your old trusted buddies to make new introductions and show you the way.
As I transitioned to the financial business, the "Back to School" phenomenon also existed. After a summer of less routine, quiet interaction and less networking, the fall was always a chance to look for new business opportunities and move existing business forward. Markets typically get a little more active and volatile as people tend to their investments, and financial and commodity markets react. Seasonality plays in as harvests, drilling and mining programs kick in creating transactions and opportunities after a period of summer doldrums. Getting together with your core relationships often leads to new ideas and expanded networks to explore for business.
Now imagine what it’s like for kids this fall: The kids will be segregated, masked, and shuffled leading to less interaction and much less personal development. Can you recognize a face behind a mask you have never met? The teachers will be under enormous pressure, and parents are worried on multiple levels, and a lot of activities and sports are curtailed or cancelled completely in many jurisdictions.
For business the same back to school excitement comes rife with unknowns in 2020. Is the company sound and able to survive? Will you still have a job? Is business moving forward and can you attract new business in this environment? To be sure it will be less personal, and a more zoom-driven time. How to capitalize?
Where existing relationships are present, I believe we will lean on them more and more for comfort and hopefully also referrals. We already know each other and talking by phone or zoom is remarkably efficient. But growing new relationships will require new ideas, novel efforts and the leveraging of your existing networks.
After all, how do you meet new friends as a kid? Often through your existing ones.
Remember that.
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