Volatility, the truth, and working in sports

You can say whatever you want when it’s the truth. This week, a staffer was deposed in a case. It was his first experience with a process we’ve, unfortunately, gotten to know too well over the past few years when dealing with some bad actors. After talking to the lawyers, he called for advice. It’s simple: tell the truth and sleep well. The truth is easy to remember, consistent, backed up by evidence, and, most importantly, noble in a world that becomes more devoid of it every day. If it’s the truth, you’re protected by the First Amendment. Just another reason to always tell the truth. Working in sports vs being the customer I have a fun job. And I go out of my way to post the fun things our team gets to do. But that's just a sliver of what we do. (and we do it because it works). So many people apply to work in sports thinking they'll "get to go to all the games." We hear things like: "I'll go to the game, get to know everyone, see their activations, and help make them better." Yes. That is 1% of that job. We also have a number to hit. A business to build. Customers to get in front of so we can learn about their needs and how we can help them. Do you know who gets to have all the fun at the games with no responsibility? The customers being entertained. So if you want to go to games and have a great time, there is a job for you: Build a huge business that people want as a customer. Then they'll take you to the games and you can enjoy. As for the rest of us, my team included, going to the games is 1% of the gig. Work in sports because you love it and its meaning. But know, you're not going to actually watch much of the game if you're doing it right. (Sidebar: I got to do it the fun way on Wednesday. And it was pretty great.) Volatility and opportunity Scary times for some. That's the time to move. In the winter of 2021, the "delta" variant of COVID was all over the news. Live events were closed. Companies in our industry were dying. Our bank, Pac West, essentially dropped us, offering us a "renewal" at punitive terms. We had been building out our events technology, which we now call "GMC"—guest management and credentialing. We had identified a company we wanted to acquire. The only problem was that nobody wanted to invest in live events—and I mean nobody. So what did we do? We took on expensive debt—12%+—and used the cash on our balance sheet to buy the company. It was expensive. It wasn't reckless; we were in a position to be fine if it didn't go well, but we believed the bounce back in the economy was closer than others thought. It worked. We've integrated that business and thrived. Even more so, the debt was bought out within a year. A home run. Only because we were willing to take a calculated risk when nobody else was. Courage is a competitive advantage.