Growing a Business Is a Bit Like Raising Kids

Max and Theo have been good sleepers for some time now. They let Erica and me get a good night’s sleep most nights.

What they don’t let us do is rest any minute they are awake.

These boys have a lot of energy. They are always moving but don’t yet understand the risks associated with many of their actions. There is an awful lot of following them around and making sure they don’t hurt themselves. By the end of the day, we’re all exhausted. I suspect a lot of parents of three-year-olds have similar stories.

In my day job as Illinois Treasurer, I frequently talk with entrepreneurs and founders of companies through my office’s Illinois Growth and Innovation Fund. What I find is a similar level of exhaustion starting a company as we have experienced raising twins.

These founders give birth to an idea, and then they don’t get much sleep. Their minds are always active, thinking about what needs to be done, and frequently doing it themselves. They don’t start with a team of lawyers, accountants, and HR specialists.

Erica and I had a lot of sleepless nights at first when the boys would wake up and revive our fear and anxiety around their stays in the NICU. Entrepreneurs don’t sleep because they are trying to answer questions: Where are they going to get their funding when they need to grow their business? Are they in legal compliance? How do they best market their company?

Although there are many scary times when starting a company and when raising newborns, there also are many joys. It is amazing to see how quickly the boys are growing and learning. I see a similar delight when these business owners achieve growth and reach milestones.

I think that children are important for our society, and so are entrepreneurs who are creating new businesses and new opportunities for employment for our fellow Illinois residents. That is just one of the reasons why I love my job.

I started our Illinois Growth and Innovation Fund to make money for the state. To date, it is one of our best-performing investments. I also started it to help grow jobs in Illinois. To date, it is responsible for over 20,000 direct new Illinois jobs.

I also like how it helps to answer one of the most common anxieties that entrepreneurs face: How do I fuel the growth of my company?

I understand anxiety. I experienced a lot of it when the boys were in the NICU. A lot of people, including readers of this newsletter, reached out to help me during that trying time. Through our Illinois Growth and Innovation Fund, I hope that I can help reduce the anxiety of some people who are trying to grow their fledgling businesses.

In my office, I can’t solve all of the state’s problems, but that doesn’t stop us from trying to do our part. That is how we are going to advance as a state, by working together.

Sincerely,
Michael