Out in California
Fred and I have been hanging on the west coast this week, Southern California. It has been great. We took a few days and drove to Laguna to chill there. It is so beautiful here. Insanely pristine and everything certainly moves at a slower pace than what we are used to.
The importance of getting out of NYC is essential for several reasons. I believe as an investor that you have to get out of your own space and get a different perspective of life out of your own bubble. It is easy to not to see a big picture when you are living in your own world with your head down every day. It helps investors and it also helps entrepreneurs to get out of their space.
Years ago when I headed up a company in the shmata world we got a glimpse of the new line for the next season. We were in moderate womens clothing so nothing glamorous. The line did not represent the rest of the country we were selling to. My advice to the designer was get on a plane and go to O'Hare. She did not even need to leave the airport. She could then fly to Minneapolis and then perhaps Arizona. Those were our customers. We all laughed but the point was made. You have to get our of your own environment to really understand the big picture of your customers unless of course you have a small company only selling to the local person.
I am totally enjoying getting out of my zone. It feels great.