Pivot > Managing Director Jonah Schnel on building companies from scratch, navigating distress, and why a wider aperture changes what you see.
Jonah Schnel has founded companies, sat on bank boards through periods of real crisis, and developed a habit of asking questions many people don’t like to ask — what could go wrong.
As a founder, operator, investor, and board member across industries ranging from finance to technology to real estate, that instinct for looking around the corner has defined how he works. Below, he shares what building companies from scratch, navigating distress, and learning humility the hard way has taught him about leadership and the value of a wider aperture.
Q: You’ve described your background as a bit of a jack of all trades. How do you think about the value of that kind of breadth?
I’d be the first to own it — jack of all trades, master of none. But what I’ve found is that having a wider aperture, because you’ve seen a lot of different things across industries, company sizes, and different parts of the capital structure, can be a real complement to a team. You may see things outside the normal expert’s view because you’re looking around the corner, not just straight ahead. Also, that type of broad vantage point and personal network can create unique opportunities for sourcing talent and business growth.
There’s another layer too. Because some of the situations I’ve witnessed involved actual fraud, you develop a habit of asking what could go wrong. That’s not a natural way to look at the world — most people aren’t walking around thinking about when things go terribly wrong. But once you’ve been there, that pattern recognition becomes part of how you think.
Q: Looking back at the companies you’ve founded or helped scale, is there a story or turning point that still stands out as especially rewarding or defining?
The one that stands out most is the factoring and asset-based lending company I co-founded. We built it from the ground up: incorporation documents, capital formation, building a proprietary loan administration platform, first customers, first revenue, acquiring another company and ultimately selling it. Getting to lead that full lifecycle was rare and really rewarding.
We did something similar with a compressed natural gas venture. Same idea: start with a business plan, raise the capital, build it, run it, sell it. What makes those experiences stick is the operational component. You’re not just backing a thesis, you’re running something real with partners, each person doing what they’re best at and filling in where the other falls short. That’s the combination that works.
Q: You’ve worn many hats — founder, operator, investor, advisor, board member. Which role has taught you the most about people and leadership?
Board member, without question, especially during a crisis. I was on the board of a publicly-traded bank that went through tremendous growth, and then some very significant challenges. That experience forces you to be clear about what the job actually is. You’re not running the company. Your governance obligation is to the shareholders and other important stakeholders. You identify people you trust, create a space where you can openly challenge each other, and make your best business judgment with the information in front of you.
What made it an especially rewarding experience was that I still had a “day job” at the time as an operator of other ventures. Many people have a full career as an executive and then move into governance. Having both running in parallel meant those lessons fed each other in real time, and I think that made me better at both.
Q: You’ve worked through both growth opportunities and distressed situations. How do you keep teams focused during uncertain periods?
You can’t always control the outcome. What you can control is the environment you create. During uncertain times, the best you can do is make sure you have the right people around you, that everyone feels safe speaking up, and that decisions are being made with clear heads and good information. That’s what keeps a team grounded when things get hard.
Q: You’ve worked across many industries. Is there a leadership principle that has stayed consistent across all of them?
Tone from the top. That’s an important concept in governance and executive management that’s talked about all the time, and I think when it’s grounded in authenticity, that’s really what makes the difference. Clear communication from leadership, and meaning it — that’s the consistent thread across every size company with which I’ve strived to be a part.
Q: You’ve worked What’s a piece of advice you’ve received — or learned the hard way — that you still carry with you today? across many industries. Is there a leadership principle that has stayed consistent across all of them?
ou’re either humble, or you’re about to be humbled…take your pick.
That came out of a situation where things were going really well, and then I uncovered a fraud. One of the other Board members had actually perpetrated it. We were fortunate that the nefarious activity was contained, and the underlying business had performed so well that when we eventually sold, the investors still made a substantial return on their investment. But personally, it was devastating to watch it happen right underneath my eyes, and the remediation effort was an absolute grind over an eighteen-month period.
What I took from it wasn’t cynicism. It was humility. No matter how well things are going, you can always be knocked off your perch, and the more arrogant you allow yourself to be, the more susceptible you are.
Q: After more than two decades across investing and operations, what still excites you about the work, and what drew you to Pivot?
What drew me in was the team and Pivot’s Co-Founder’s Lance Miller and Peter Elkin. Pivot has an exceptional team of real experts who are genuinely good at what they do, and the company vigorously promotes a transparent, collaborative environment. I tend to be involved in strategy and choreography across multiple experts, so it mattered that the Pivot team was well-rounded with exposure and deep experience within different industries and stages of the business cycle.
It also maps well to my network and the situations I’ve lived through. Companies growing fast, companies in distress, boards under pressure. Whether it’s transformation work or navigating a crisis, that’s the full range for which Pivot is built. There’s always something to do, and I love that.