What fishing taught me about business.

Despite the fact that I live in NYC I am to be able to fish quiet often. We pull largemouth bass out of the lakes in Central Park, Striped Bass from the East River and I get to go off shore fishing south of Long Island for really big Tuna and Mahi Mahi.

Some time-tested approaches to fishing turn out to work really well in business, and here are some tips:

1.    Always have lines in the water:
 

Last summer I was lucky enough to get on a friend’s boat at 3:00 AM to go 100 miles out to the Hudson Canyon for tuna fishing. After the 3 hour trip to the appointed spot we discussed at length the underwater topography using GPS, the surface temperature of the water looking for “breaks” that hold bait fish and discussed at length what kind of rig to use – all trying to increase the chances of our success.

One astute member of the party said “Hey guys – if don’t get some lines in the water I guarantee you that we will have 0% chance of catching fish.”

My take-away for business is to always be engaged in activities that can lead directly to revenue generation, or have “lines in the water”.  Do not get overly distracted with strategy, planning and lots of internal meetings at the expense of actually conducting your business. 

2.    Learn to read the water:

Fish of all sizes, from small trout in Colorado streams to trophy stripped bass off Montuak share on trait – they’re predictable when it comes to feeding. Fish like to sit in still water next to moving water or on a “rip line” when looking for food. It limits their need to expend energy while seeking their next meal. Also makes for an excellent place to fish.

So I’ve learned to “read the water” in business – to know where concentrations of business opportunities might be. Like going to industry events and “meet-ups” where smart people are talking about innovative ideas. People feed there on these ideas, and it’s a good place to start business conversations.

3.    Try everything in the tackle box:

From my dry flies / nymphs for trout to “spreader bars” that target giant blue fin tuna I have tons of different tackle. People ask me all the time “What’s going to catch the fish?” I can honestly say I have caught fish on every lure / live bait rig I own – but I can never tell what is going to work or when.

So like in fishing – I change up my sales and marketing approach / offer often when it is not producing the desired result. Some entrepreneurs call it “pivoting” your business model. I like to try different approaches until I “hook up” as we say on the boat.

4.    Be patient and enjoy the process:

I have a really short attention span, and get frustrated when I don’t succeed. But getting upset about not catching fish has an inverse effect on actually catching fish. Somehow they just know! So I now I like sit back and enjoy the view and solitude when fishing. Once in a while I actually catch some nice fish. That why it is called “fishing” not “catching.”

So in business I try to enjoy the process of meeting and talking to lots and lots of people. Once in a while they turn into clients and profitable business relationships. Then I can yell “Fish on!” – oh wait, I have to save that for this weekend on the boat.