Everything went smoothly. It appeared as though you were disappointing them by stopping that service as a result. My decision-making process was aided when I ultimately understood that I was still assisting parents and kids at the end of the day.
Did giving up on a business plan that was showing signs of promise seem like a large risk?
Indeed, without a doubt. Our lack of experience in operating buses meant that we would need to develop a new set of skills. In order to persuade our board and investors, we had to rearrange the team.
We gained traction after securing a $53 million, five-year contract with the Oakland Unified School District, which went into effect in 2020. Their debut was successful for us, and they had a sizable consumer base. Everyone so came together to focus on a pressing problem that needed to be solved.
After that, there was a pandemic, and school transportation was discontinued for around five or six months. That put us in a predicament where we had to create lemonade out of lemons. Because we weren’t running day-to-day operations and weren’t really servicing current customers, we made rapid progress on improving our product during that period.
What is your best tip for spotting windows of opportunity and determining when taking a chance is worthwhile?
It’s what one of my investors refers to as a “crucible moment,” where you either soar or you just barely survive.
I have to use this analogy: A parent is constantly aware of potential problems while a child is there. By default, it is. It is imperative that one consistently considers the manner in which the market, business, competition, and client needs are changing.
The market’s needs fluctuate frequently. Often times, you discover something unexpected—something that occurred in our instance and is far more significant than you first imagined.
It’s that crucial moment when you have to change in certain situations. You won’t achieve the level of achievement you could if you make the incorrect choice.
