Striking a Chord: Lessons from a Great Concert for Portfolio Companies

Thank you to my wife, Traci Arends, for making it possible to attend a great concert performance in Paris. As I reflect as an avid concertgoer and keen business observer, I found surprising parallels between the electrifying performance and the world of private equity and portfolio companies.

Here are some valuable lessons portfolio companies can learn from a great concert performance:

Connect with your audience

Just as an artist engages fans with personal stories and interactions, portfolio companies should strive to connect with customers on a deeper level. Understanding their needs, preferences, and aspirations can help build strong, lasting relationships.

Adaptability is key

A great artist seamlessly transitions between different musical styles and stages during concerts. Similarly, portfolio companies must be adaptable and responsive to changing market dynamics, consumer behavior, and industry trends to stay relevant and competitive.

Embrace creativity and innovation

A great artist is known for their creativity and innovative approach to music. Portfolio companies should foster a culture of creativity and innovation, encouraging employees to think outside the box, experiment with new ideas, and push boundaries to drive growth and success.

Consistency builds trust

A great artist with consistent high-quality performances earns loyal fans. Likewise, portfolio companies should focus on delivering consistent value, quality products, and excellent customer service to build trust and credibility with stakeholders.

Harness the power of storytelling

An artist weaves captivating narratives into songs, creating emotional connections with audiences. Portfolio companies can leverage the power of storytelling to communicate their brand’s values, mission, and impact effectively, resonating with customers and investors alike.

Strive for excellence

An artist’s commitment to excellence and perfection in their craft sets them apart as a top performer. Portfolio companies should also strive for excellence in all aspects of operations, from product development to customer experience, aiming for continuous improvement and growth.

How we can help

A great concert offers valuable insights for portfolio companies looking to enhance performance, engage stakeholders, and drive sustainable growth. CLA can help portfolio companies embrace these lessons and incorporate them into strategies to create a harmonious symphony of success in the competitive business landscape.