Lesson 54: Commitment
Penney Sconzo was my 10th grade AP Chemistry teacher, who had been teaching at my high school since before I was born. One cold February morning, my classmates and I were in Ms. Sconzo’s classroom talking about the weather forecast of snow. We had hoped school would close tomorrow so we could stay home for the snow day.
Then, Ms. Sconzo started class by informing us, “We are taking the AP exam in 8 weeks so whether or not school is canceled tomorrow, I will be in this classroom teaching the next material to whomever shows up.” The next day school was canceled. The campus was empty except for Ms. Sconzo’s classroom where we all sat as she walked through acid-base chemistry.
Commitment is uncomfortable. Ms. Sconzo’s commitment to her craft was abundantly clear to us. On that snow day, we demonstrated our commitment to learning by showing up when no one else did. Sacrificing our snow day was uncomfortable, but our dedication had taken root, thanks to Ms. Sconzo. These roots kept us from toppling over at the first sign of discomfort.
Entrepreneurship Through Acquisition is a commitment. It is one of the most uncomfortable career paths for MBA students, but I did not come to Booth for comfort. I came to get my MBA so I could help close the racial wealth gap. According to the Federal Reserve in 2024, “Black families owned about 23 cents for every $1 of white family wealth.” This fact is uncomfortable, but it fuels my commitment to ETA.
One of the reasons ETA is uncomfortable is because searchers have to persuade sellers they are the right buyer even though we have never been a CEO. This week, I spoke with Jason Jackson, Partner at Futaleufu Partners and Co-founder of Black Search Network. He described conducting a proprietary search. A proprietary search is where you talk directly to business owners about transitioning their business. This is a tougher path than a brokered search, where the searcher talks to business brokers who have hundreds of businesses available for sale.
To build credibility with sellers through the proprietary search, Jason told me, “It helps to be knowledgeable about their industry.” Becoming familiar with the seller’s industry is essential for demonstrating your commitment to their business and its ecosystem. For my search, I need to demonstrate my commitment to serving students and teachers dedicated to their craft.
My values are to act with love, humility, and wisdom. On top of my Booth requirements, my commitment to ETA requires the extra effort of learning about the world of skilled trade education. This will strengthen my roots once I transition into business ownership. Ms. Sconzo once said, “When I am excited by what I do, students pick up on that enthusiasm, and the classroom becomes charged with energy.” Once I am a CEO, my commitment begins to plant seeds in others until my team is rooted in their commitment to our mission, especially when we need to work through the wind, rain, or even snow.
This is Lesson 54: Commitment. Next week is Lesson 55: Integrity.
