Chapter 1: My Journey to Find New Opportunities

I recently emerged from a peak performance period spanning three years. After a decade of rigorous study, experimentation, and refinement, I successfully uncovered a viable business opportunity. My focus was on selling technology through the significant funding provided by the CARES and ARP acts in response to the COVID-19 crisis. However, these grant programs are now nearing their conclusion.

With my entire team depending on our next steps, I've dedicated countless hours in recent months to discovering the next viable opportunity. Just as every wave eventually breaks, we too must navigate the waters in search of our next ride.

To thrive, it’s essential to identify that subsequent wave. As Charlie Munger aptly noted, "There are huge advantages for the early birds..." The notion of surfing is particularly relevant here: when a surfer successfully catches a wave and stays on it, they can ride it for an extended period. However, if they lose their momentum, they risk getting stuck in the shallows. Many individuals experience significant success by remaining at the forefront of opportunity, just as leading companies like Microsoft and Intel have done.

When seeking the next wave to ride, I consider three critical factors:

1. The Wave: The most crucial element; any promising business opportunity must stem from a market with substantial financial activity. No matter how exceptional your product or sales abilities are, without a wave, you cannot surf.
2. The Surfboard: This refers to the products we offer to the market. As a technology reseller, we have access to over 10 million SKUs. It’s vital to align the right products with the appropriate market opportunity.
3. The Surfer: It’s essential to cultivate the right mindset to effectively seize opportunities. With people's livelihoods and potential profits at stake, prioritizing mental well-being, a stoic attitude, and strategic detachment is critical.

It has been a challenging few months in the search for our next wave, but we are beginning to adopt a fresh strategic perspective and are now poised to capitalize on emerging opportunities within the information technology sector.

After extensive reading, research, and ideation, I have identified several principles that have helped keep me grounded:

Avoid Starting From Scratch, But Embrace Change

Mikhail Gorbachev once stated, "It is better to see once than hear a hundred times." As we transition into a new growth phase, it is wise to seek adjacent waves. When nearing the end of a wave, it's important to recognize and value the relationships built during that period.

• Clientele: Successfully navigating a wave often results in strong client relationships. Even if the current opportunity diminishes, these connections are invaluable. Riding an adjacent wave is typically easier than searching for entirely new opportunities in unfamiliar territories.
• Market Share: Emerging from a wave grants a certain level of market traction, reinforcing the importance of selecting a wave that builds on existing strengths.
• Process: Established processes, domain expertise, and revenue-generating techniques can continue to serve you well as you transition to new opportunities.

Nevertheless, it’s crucial to adapt to market conditions. If opportunities are scarce in one area, it may be necessary to venture elsewhere, just ensure that you remain within familiar terrain.

As Gino Wickman advises, "Most people are sitting on their own diamond mines." The quickest way to lose out is through boredom, overambition, or the belief that better opportunities exist elsewhere. Focus on your core competencies and dedicate your resources to honing them.

For us, this has entailed slightly expanding our total addressable market (TAM) while still catering to our existing clientele.

Build Remarkable Things with Unwavering Focus

Mark Zuckerberg once remarked, "There is a pretty big difference between things that are valuable and things that are awe-inspiring." This underscores the need to find waves close to home, as building exceptional products takes time.

An obstacle I faced while managing the COVID-19 grants was the pressure of impending deadlines, which hindered our ability to scale operations effectively. Charlie Munger likens this to a cylindrical water tank: the larger the tank, the more water it can store, demonstrating the advantages of scale.

Creating such scale necessitates time and a concentrated focus on a core market.

Be Flexible, But Grounded in Reality

I admit to wanting everything to be perfectly planned ahead of time. Yet, the ever-evolving technology landscape requires adaptability. Some of the most successful companies are known for their flexible strategies.

Nvidia, for example, is known for its skepticism towards long-term planning, preferring to stay agile in the marketplace. "Long-term planning is a fantasy," says Jason Fried, founder of 37signals, who advocates for a focus on the present.

While this present-focused approach is admirable, I believe in the value of learning from the past. "I believe in the discipline of mastering the best that other people have figured out," Charlie Munger states, emphasizing the importance of building on existing knowledge.

The most successful companies—Amazon, Microsoft, Google, and Berkshire Hathaway—have thrived due to a blend of relentless patience and the ability to swiftly seize rare opportunities.

Strategies for Sustained Success

Embracing change does not always mean starting anew; it's about navigating the waves while staying true to your strengths. Transitioning into a new phase requires seeking adjacent waves, nurturing existing relationships, leveraging market share, and refining processes. While the allure of distant opportunities can be tempting, often the most promising wave is the one closest to home.

Ultimately, there is no magic formula for sustained success, but we must remain committed to delivering our best.

In this video titled "Surf Anywhere: Wave Hunting in Austria," experience the thrill of searching for perfect waves in unique locations, showcasing the importance of adaptability in wave-hunting.

The video "Resin Sculptures of Water and Waves" explores artistic interpretations of water and waves, illustrating the creativity required to ride the metaphorical waves in business.