SCP Turns Three!!!
Issue 27: July 2021
Move fast and break things is a motto championed by Mark Zuckerberg. Move slow and build something is a motto championed by William March. SCP officially turned three this month! Wahoo! I want to use this newsletter to reflect on the journey. Specifically, I want to discuss getting over my fear of failing, building trust with people, and creating a business that can grow for the next 30 years.
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Firm Accomplishments
Added five Partners bringing total to twenty-two.
Assets under management exceeded $7.5m.
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Imposter syndrome is something every single one of us has experienced at some point in our lives. It could be sports, social settings, or the workplace. Irregardless of the location, we all have doubted our abilities and questioned whether we deserved to do what we were doing. I am no different. And candidly I have probably felt a higher level of imposter syndrome over the last three years than at any point in my life. I think this comes with the territory of starting your own business. 40% of small businesses fail within three years. Until you clear that hurdle, there is always some doubt in the back of your mind about whether you will make it.
Fortunately, I was not one of them. Instead, I have exceeded my own goals by >50% and have the runway to continue growing SCP! I can’t pinpoint a specific moment. Rather a culmination of growing assets under management, increasing number of Partners, solid investing returns, and increased clarity on my investing process and portfolio construction have all solidified my confidence I made the right decision starting SCP.
While my imposter syndrome has receded, it still exists in each of you about me. This makes sense. I am trying to convince you to trust me with your hard-earned assets. Hopefully, the fact I have done this for three years provides some proof I have what it takes. However, I want to breakdown why I view myself as the right person for the job!
First and foremost, I eat my own cooking. My wife and I have ~90% of our liquid net worth invested in this strategy. Besides our home and a modest checking account we have no other investments. On top of that, this is how I generate 100% of my income to help support my family. If you don’t think I eat, sleep, drink, and dream about this talk to Jill. She has been hearing about Viad for two years…
Now compare this to the person working for the big name financial firms like Edward Jones or Lincoln Financial. There entire business model is predicated around attracting assets, generating fees, and keeping you in a target portfolio managed by a bloated organization. They rely on branding and marketing to attract and keep clients. Once you are in the door, you become another cog in the machine. Chances are the person who you spoke with during the onboarding process will have little to do with your relationship moving forward. You’ll get passed off to some younger person to service the account.
Is that what your hard-earned money deserves?
If so, then SCP probably isn’t for you.
I am building something different! The bedrock of my business is the Spring City Fund. This concentrated portfolio of individual stocks is proprietary to Spring City Partners. For those looking for a more traditional investment strategy, I created the Keystone Fund, which provides exposure to the equity markets via low-cost ETFs. I combine this differentiated investment strategy with my knowledge of a broad range of financial topics to serve as a one-stop shop for all of your needs.
Is that what your hard-earned money deserves?
I think so! That’s why I am building SCP.
If you are interested in learning more, feel free to email me bill@springcitypartners.com