Check back each month to hear observations and updates from Andrew Casson, Managing Partner of The Fresnel Companies.
As I write this letter, I have been thinking about the challenges our country and our world are facing right now, and any words I choose to describe that past few weeks seem to be an understatement. Last week, I was in a meeting and we were all commenting on how 2019 seems like it was a decade ago. I’m excited for 2020, even though it has been a bit of a workout and we’re just wrapping Q1!
It would be a falsehood to say that we’ve not worked through a few challenges within our group. However, and I’m sorry if this sounds like a cliché, but these challenges only reinforce the portfolio structure of the Fresnel Companies and reveal how our team fights for every inch we can gain. Not only did we not flinch, as you can read in this edition of The Lens, we continued to create value and identify new opportunities. All of the partners and managers agree that business challenges have a way of focusing the mind and fertilizing the creative process.
With all the volatility in the markets, the upending of daily lives due to the Coronavirus, the upheaval of the energy markets, and the general rattling of confidence, we had a few different paths to choose. We could just sit tight and be reactive to the daily changes, call off plans, cancel meetings, and collectively curl up in a ball. Or we could go into maintenance mode, which really just keeps us in the status quo in a quickly changing environment. Lastly, we could take our chosen path of applying more acceleration, driving business-development initiatives that remain future-proof, stop-gapping ourselves where needed, and identifying opportunities. Time and time again, successful enterprises prove to be the most adaptable to change, decisive and ready to act.
Our Experts-in-Residence are helping us drive new initiatives across the portfolio and ensure these changes evolve our business to be even stronger. We’re working with our Emergent International partners to roll out new opportunities in sub-Saharan Africa. We’ve rolled out the 12-month value-creation plan for Tring (Formerly VXP): already expanding our client base and developing sales across other verticals. We’re leveraging relationships within Digital Latitude to explore and expand our retail-focused businesses. And we’re reviewing several new revenue extensions that will ensure we emerge from this current state of affairs successful, excited, and invigorated.
For those who have been personally impacted by COVID-19, our thoughts and prayers are with you and your families. Please know that our family is here for you, and please give us a call if you need anything or have any questions.
Andrew B. Casson