Language is a strange and fluid thing. Words and phrases fall out of use and disappear; new ones enter common usage; both reflecting shifts in what we care about and altering the paths along which we think.
So, for example, as recently as a couple of decades ago, if someone was called a goat, it was an insult, a disparaging jibe. But in the recent past, GOAT became an acronym—greatest of all time—signifying achievement on an unprecedented, heroic scale.
During the approximately the same time, we acquired other acronyms, including FOMO—fear of missing out—and shortly on its heels, JOMO—joy of missing out. While FOMO doesn’t resonate with me much at all, JOMO does very strongly.
Recently watching the GOAT Simone Biles got me thinking about JOMO’s twin, which I might be coining here (or not?): JOSO, or joy of standing out.
“Young. Old. Just words.” — George Burns
None of these ideas are new. They probably weren’t even novel when Shakespeare wrote in Twelfth Night, “Be not afraid of greatness: some are born great, some achieve greatness, and some have greatness thrust upon ‘em.”
It is odd that human beings should fear greatness. Yet we fear standing out in general: paradoxically, fear of failure and fear of success are highly related; perhaps that is one reason why fear of public speaking is estimated to affect three quarters of us. There is practically an entire cottage industry around Marianne Williamson’s poem, famously and frequently misattributed to Nelson Mandela.
To be sure, in organizations with both real and imagined constraints binding us collectively to adhere to established practices and preconceptions, we are conditioned to avoid standing out by questioning or revising those habits and interpretations of reality. There can be real and painful consequences for stepping out of line. However, there are also real and painful consequences to maintaining a false construct, especially when it is increasingly divergent from the reality it purports to model. We have many demonstrably false constructs in the financial world, including notions about fiduciary responsibility being best served by focusing on quarterly performance, accepting or ignoring “externalities”, believing that climate and other considerations are immaterial, perceiving people of color and women—particularly first-time founders or managers—as higher risk and lower potential than their white male peers. And if the sublime Ms. Biles suffers points deductions for executing spectacular new skills of her own devising on the basis that they are too difficult for her peers to replicate, you can surely expect to be on the receiving end of some sharp elbows as well, if you step away from the crowd.
You are most likely neither a GOAT nor a goat
In the larger sense, however, fear of success and fear of failure are also both based on false constructs. As many historical sources have variously quipped, the worst happens far less often than we imagine.
So here’s a happy thought: even if you start right this minute, you’re probably never going to have to suffer the global spotlight glare of sharing a podium with the likes of Ms. Biles; conversely, even if you blunder while trying something new, others are unlikely to judge you as harshly as you fear. “On balance, nobody is watching you, your career, your social-life or your business half as much as you think.” So FOSO—fear of standing out—is probably unfounded in either direction.
But standing out is brilliant!
On the contrary, as professionals we are (or at least purport to be!) always looking for ways to distinguish ourselves from the pack, demonstrate uniquely astute insight, exceed or even reset the benchmark. That’s not possible from a position of conformity. This should be obvious and commonsensical, but very often it’s not, so I’ll repeat it. It is not possible to distinguish yourself by operating from a position of conformity. But you also don’t have to go it alone: you don’t have to be unique to stand out.
As we’ve cited in our recent Field Note and numerous blog posts, there is a growing community of capital allocators and investors who are stepping away from the flock, choosing new evidence-based constructs that more closely accord with observable reality, and so endearing themselves to their constituents. You can be one of them, standing out on the basis of your own considered perspective on the underacknowledged risks of the status quo and the underappreciated rewards of breaking from it.
Don’t just take my word for it, or anyone else’s, for that matter. Gather up and examine the readily available evidence. Interrogate your existing models and preconceptions for demonstrable reality gaps. Discuss what you find with your constituents, many of whom are probably also frustrated with the status quo. Make your own considered, rigorous assessment of the risks and opportunities associated with parting from false constructs, and devise your own course of action—or borrow some courage and follow someone else’s you find credible and compelling. Soon enough you’ll discover JOSO—the joy of standing out—for yourself, and we predict that once you do, you won’t ever want to go back.
JOSO >> FOSO, FOMO
[JOSO is vastly greater than FOSO and FOMO]
At Reinventure Capital, we’ve chosen to stand out by focusing our investment strategy on chronically overlooked, undervalued founders—people of color and women—leading US-based expansion stage (breakeven or so) companies that are poised to become the economic engines that will positively transform sectors, societies, markets, and lives. This is affirmatively, intentionally, dare we say joyously, at odds with the all-too-often fear-anchored status quo. And we know from observable evidence, including Ed’s track record, that this deliberately contrarian standout approach generates non-concessionary returns to investors.*
Moreover, we are inspired by a vibrant and growing number of managers, advisors, and LPs choosing and taking up their own positions away from the flock, brilliantly standing out in all manner of ways. Beyond the dense and crowded center there is a large circumference where we are thrilled to observe lots of exciting developments akin to Ms. Biles’ game-changing originality, virtuosity, and joy.
If you’re ready to upgrade from FOSO to JOSO, please contact us!
And if you are already actively relishing the joy of standing out, please share, so others can join you in celebrating their own upgrades!
Image credit: Wikipedia
*While there’s no such thing as a guarantee in investing and no one can reliably predict the future, Ed’s prior track record delivering 32%IRR to investors provides direct evidence that it is indeed possible to consistently invest for both financial returns and social value creation. If you are an accredited investor and would like to learn more about investments that can advance social, racial, and gender equity by supporting high-value companies led by women and/or people of color, please contact us to start that conversation.
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