Lesson 67: Action

“Get stuff done.” - President Barack Obama.

When I first became president of the African American MBA Association (AAMBAA) at Chicago Booth, I reflected on my experience with the organization and asked the 5 other co-chairs of AAMBAA about their experience too. These conversations led to a couple targeted actions: 1) I began posting weekly updates for members, 2) I created a template for my fellow co-chairs to fill out our strategic vision this year, 3) I organized a co-chair retreat for the 6 of us to spend a weekend together, 4) I started AAMBAA family meetings for members to convene each month, and 5) I had 1:1 time with 43% of all members. Across the organization, we became aligned on our mission and path moving forward. My bias to action has not always worked out, but my experience with AAMBAA so far has taught me thoughtful execution is better than waiting for the perfect plan.

In this scenario, if I were afraid to try something new because we had never done it before then I never would have started. In this interview with President Obama, he tells young people early in their careers to “get stuff done.” Sometimes, we walk on eggshells afraid to act without realizing that, if you try, then you either succeed or you learn. 

When we look at the landscape of private equity, we see investors, private equity firms and their portfolio companies hesitant to act in this turbulent environment. In fact, Bain & Co.’s Private Equity Midyear Report 2025 says LPs who invested in 2018 expected these private equity firms to have repaid at least 80% of their original investment by now. Meanwhile, the actual figure is around 60%. That means investors are not only waiting longer for their returns, but they also might need to wait to invest in other funds. Moreover, they report $1.2 trillion of “dry powder” waiting to be invested. That means some of those firms could be hesitant to do deals. Portfolio companies also need to refresh their value creation plans to grow revenue and profitability. How do you act when each party seems stuck?

All this inaction in private equity, reminds me of a conversation I had with an investor who visited Booth: “We look for searchers with a bias to action: they acquire a business and immediately begin executing on their plan.”  This investor has met hundreds of people interested in entrepreneurship through acquisition, and he has seen people be successful who are courageous enough to act. As I leaned on my co-chairs to build a strategic vision for AAMBAA, the first priority in a new business is to decide with your team the path forward.

While the stakes are undoubtedly different, the fundamental leadership lesson remains the same: inertia is a silent killer, whether in a student club or a portfolio company. In this turbulent and unpredictable environment, failing to act with discernment will sink your ship. From a $10 billion fund to me, an entrepreneur through acquisition, we will see how the market rewards our bias to action while others stay tied to the dock.

My values are to act with love, humility and wisdom. Wisdom is knowing how slight movements of the steering wheel will guide your ship to your desired destination. We cannot afford to freeze in our fears. Our investors, our businesses, our customers, and our communities need to see proper leadership “get stuff done.” 

This is Lesson 67: Action. Next week is Lesson 68: Authenticity.