2008’s meltdown reset the financial services industry. It caused chaos worldwide and for a short while, it brought the masters of the financial universe down the earth.
More importantly for me, it was my catalyst, moving me from a pattern of waiting for the right time, to acting and creating various windows. Opportunities.
With primary issuance in static shock, many investors stemming off redemption requests while others targeting distressed bargains, raising capital became virtually impossible. It became clear that it would be equally hard to make a living working for someone, as it would be to do something for myself. I had been itching for the chance to create something new for a few years, but the lure of the next big deal or opportunity within the safety of corporate walls kept me from taking the plunge.
I made up my mind and then sounded out my colleagues. With everything going on, and people worried about their jobs, here I was volunteering to walk the plank and jump into start-up waters. The actual business model was fluid, ranging from a venture fund to a small boutique, to a corporate venturing partnership. To some extent, the business plan itself adapted to the conversation, its main goal to stem the next wave of nervousness that follows a decision to leave steady employment. But the restlessness grew and I knew that it was the right time. I was ready, again.
The springs supplying the sluices of structured and corporate finance had dried up. It was time for me to look for new wells. Oases, lagoons, underground seas. Or maybe, just a puddle of rainwater. Whichever way this turns out, it won’t be boring.