The importance of time
I had the immense pleasure of taking my son on his first alpine climb. He started on skis around age 2.5 and has been in youth climbing classes off and on for years. He climbed the iconic 3rd Flatiron that frames the Boulder skyline at about age 5. At age 8, he was enthusiastic to try something more. The route was the Guides’ Ridge on Mt. Crested Butte. It’s a classic ridge climb in the European style meaning that access to the route is facilitated by riding a lift which reduces the time for the approach and descent.
The route is not difficult by modern standards, but as you climb, the exposure becomes fantastic. Though unlikely, an unroped fall would have catastrophic outcomes. The risks of climbing in the alpine environment are unique from other embodiments of the sport; most notably, the impacts of time and how efficiently a party moves over the terrain can have a dramatic impact on the outing.
Making a realistic time plan, overcoming unexpected challenges and executing is often the difference between enjoying a wonderful experience in the mountains and having an “epic” that someday you’re able to look back on and perceive as “fun” (maybe). A further challenge is the sheer variety of uncertainties such as the reliability of the weather forecast or the vague route description.
As the CEO of a biotech startup, I’m used to dealing with a range of uncertainties and this year has been more unpredictable than anyone could have imagined. The importance of time in the life of an emerging company cannot be understated. Unfortunately, it’s not a concept that is conveyed as a part of the educational system (where a student’s time is often valued at close to zero) nor is it understood in the same way at an established company (where risk aversion dominates and incremental improvement is the norm).
For an emerging company, the efficient use of time and the continued creation of real commercial value for all stakeholders is paramount. Consistently achieving milestones on time (and on budget), rapidly diagnosing and addressing the inevitable challenges that arise and consistently evaluating key assumptions are all things that are within our control and that will ultimately lead to commercial success. And they typically must be accomplished with a variety of uncertainties. Just like alpine climbing.
