Thinking back to my youth, I can Identify where I have pushed the limits to see how far I could go and how much I could get away with, before crossing the proverbial breaking point. This showed up in how I tested the boundaries with authority figures as well as in my outdoor pursuits of skiing, climbing and mountain biking.
Ultimately this behavior influenced the way I pursued business. In the early days it served me well, especially when I chose to launch a career in the fast paced and frenetic world of toys. In the toy industry, you have to move quickly and be willing to take risks in developing new and fresh product ideas that will appeal to kids. If you get it right, the ride up is intoxicating, with staggering growth rates unrivaled in any other
industry.
However, what goes up fast can also come down fast. The dynamics that come with fast and reckless growth, if not properly checked, can result in being knocked out of the game of business; where the most important rule of the game is to make sure you have the right resources to stay in it!
Every venture needs some kind of early signal that there is market affinity for
your idea. If the market signals are strong, the temptation is to try and capture all the demand resulting in a significant drain on the company’s ability to fuel the growth. Growth in a business is required however it is a double edged sword in that it also stresses a company. The company's rate of growth will be directly correlated to the amount of strain that is subsequently created. To avoid the stress fractures that can eventually break a company, what is needed is continual reinvention in
order to support the rate of growth. It is not possible to grow a company and stay the same. Change is inevitable and required to both prepare for the growth and the natural evolution that happens on the other side of growth.
When you are riding the ‘razors edge’ of fast growth with rapid reinvention, there is always the real risk that something critical breaks and as a result your venture may ‘crash and burn.’ It is like driving a
car to the point of redline. You might be accelerating, however there is a real chance that you may break the vehicle by blowing up the engine, as I experienced firsthand and share about my experience and learnings in Startup Santa.
I just returned from a trip to Peru where Kelly and I spent 10 days with friends, exploring the
wonders of the Andes. The trip was designated as a mountain bike excursion, with some added opportunities for exploring the rich culture including visiting Machu Picchu.
Over several days we had an unrivaled downhill riding like nothing I have ever experienced. We traversed and descended down thousands of feet of raw and rugged terrain made up of old Inca trails combined with some wildlife corridors and a few mountain bike specific
features scattered throughout.
On day four of the trip, we were riding a trail called Maxima which started at 4500m. I was following my buddy Mike, who is an incredibly skilled biker. He was in the flow zone, riding both fast and fluid and as we descended I was ‘whooping’ and cheering him on. We were both riding on the edge (literally on top of a huge cliff) moving at a very fast pace, navigating through loose
rocks, drainage ruts and tight corners full of cacti.
When it was my turn to take the lead, I was determined to keep pushing the pace. We rounded a corner and I saw a natural boost feature. I hit it, overshot the landing, jamming my front tire into a rut that sent me sailing over the handlebars.
When I hit the ground I was winded and felt a sharp pain in my hand.
I rolled onto my knees and started to assess the damage. That is when I noticed I could not move the fingers in my left hand. When I looked at the glove, where the knuckles were supposed to be, instead was a big dent. Two hours later I was in a hospital in Cusco, where they arranged for an x-ray that confirmed what we had all suspected: I had broken my hand.
As I have reflected on the accident, I couldn’t help but draw
parallels between the crash and many of my early experiences in business. My first venture grew at an unprecedented rate and was celebrated as one of the fastest growing companies in Canada. For a number of reasons that I now chalk up to being naïve, we pursued a path of growth at all costs, despite not having the right systems, people or capital to support it. While it was working, it was amazing.
It was similar to the thrill I
experienced of careening down that Peru mountain bike path at high-speed making rapid course corrections along the way. It all worked until it didn’t and at an unexpected moment, we eventually crashed.
If we had slowed down and been more careful and thoughtful about having the right resources to support our speed of growth, we likely would not have crashed. It might have actually been an opportunity for a pivot rather than
being knocked out of the game.
The other lesson to take away is about how we respond after a crash. Ernest Hemingway famously stated:
The world breaks everyone and afterward many are strong at the broken places.
His was referring to broken bones, where if given the opportunity to heal properly,
will be stronger than before. On the other hand, if not in the right environment to heal, can result in gangrene and death. What happens happens; how you choose to respond will determine if you will get better or bitter.
As you think about your life or business and your rate of growth, stop and reflect on the following:
1. Are there areas in your life that feel reckless and out of
control?
2. Are You pursuing disciplined growth or are you growing uncontrolled and reckless?
3. Have you crashed and if so, are you willing to be reflective and introspective to unpack the learnings?
4. How can you use the failings of your past to fuel your new and better future?
Whether you have crashed in life and/or business, I encourage you to invest the time to discover the purpose of your pain. It is a unique opportunity to let your adversity turn to your advantage by extracting the wisdom from your wounds. If you do, it is an opportunity for you to become smarter, stronger, and more capable in your future endeavors.
Brad Pedersen Vijay Krishnan Andre Oliveira
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