I had coffee with a local service provider last week. I am always up for meeting new people and it was the first time we had met.
Our conversation went really well, but he mentioned he was very disappointed one of our portfolio companies didn't invite him in to pitch when they were selecting someone that offered a similar service.
While I always respect someone that wants to grow their business, I was a little surprised to hear his disappointment. After all, other similar providers have surrounded the company for years and invested a ton of time building up that trusted relationship with the management team and board.
So, when I sat there last week, I realized we were meeting because it was reactive to what had happened (him not getting a shot). The others that were proactive and given our company attention over the years were the ones that were given the chance to compete. Of course we selected one of them.
So when growing your business are you proactive or reactive?