A friend of mine who coaches his daughter’s volleyball team once taught me an important lesson. After the team executes an excellent play, usually ending with someone “spiking the ball” to secure a point, the team briefly gathers, they give each other a high five, and say some encouraging words before they get back in position and resume play. If this was the end of a set, the celebration would last longer and be more demonstrative; nevertheless, they would get back in position and prepare for the next set until the match was over. This action looks trivial to some, but it is more important than one might think. The coach said that when his team wins a point, a set, or an entire match, its important to pause, acknowledge their achievement, and celebrate even the smallest “win” before getting back to work. That’s what this issue of The Producer is dedicated to … celebrating after spiking the ball.
You see, the Five States team has a lot to celebrate:
… and the list goes on.
As stated above, the Five States team has a lot to celebrate, and we are extremely optimistic about our funds, those we just closed and those we plan to issue in the coming months. High fives all around!
OK, Celebration over… Back in position. Get ready for what the world will serve up.
At Five States, closing a fund represents an important shift in our business activity. For some companies, business cycles are seasonal, with business ramping up during the summer or in the months before Christmas. Other companies must manage against year end, while still others get busy before tax deadlines. But for Five States, our business cycle coincides with funds. As we close our Five States Renewable Energy and Five States Energy Income 2021 funds, and before we consider issuing the next one, the pendulum in our business cycle swings to capital deployment. In other words, our focus turns away from investor cultivation and pivots toward buying assets. This is a dramatic and important shift for the Five States team, which can involve shifting roles, reassigning tasks, and dusting off old relationships. This is why pausing for a moment after spiking the ball is such an important step.
The good news is that we already have a lot of momentum. We have new assets in our sights and an aggressive team in the field turning up opportunities weekly. We look forward to sharing the results of this in the coming months when we can all celebrate together!