The Business End

Sometimes you need to work through “it”

Several years ago I remember working through a number of issues that I knew could be solved by some of my peers if they just would get involved. I was facing financial meltdown because our company funds had a greater outflow than inflow. I was not even sure where my office rent was going to come from! For those who know, this is not a fun place to be!

This is a story that can be told no matter where you live.  It’s not easy coming up with solutions like these. Sure I could rely on my peers to bail me out and more than likely I would have been in the same situation all over again. Just like anything else in life, the things you fight for are the things you keep. That’s not to say everything should be a fight, its just that when you do actually work through something you have a sense of accomplishment and look forward to what’s next knowing that hurdle has passed. I remember working at my old company right after September 11th and thinking that I was going bankrupt for sure. I remember sitting in my office working out the issues and trying to figure out the best way to find a solution. The more I did, the more I felt pity for myself and then focused on the problem which obviously does no good at all. Then walked in Owen, the owner of the building. He said: “How is it going in here?” I told him the story and my bleak outlook on life. I also had to tell him I wasn’t sure how to pay rent which for the record is the worst thing to have to explain. He looked at me and smiled then he said:”I’ve been down that road, I know you will come up with a solution. Just stay here and lock yourselves in until you come up with a plan.” Then he just walked away. At the time, I’m not sure if he understood my situation or if he was being mafioso by saying: “I know you will come up with a plan”. Either way, I was destined to find a way.

There was a contract that was sitting out there for almost $40,000. I had been trying to get these guys to agree on terms for I don’t know how long. I was determined to find a way to get something going. I worked relentlessly and as a result, I not only closed them I also got 2 other contracts as a result of me tirelessly pursuing a deal. I solved my cash problem but still needed to understand why I got there to begin with. Now that I was able to go back to Owen and pay my rent he looked at me and said: “See, I told you”. I smiled nervously and thought “You have NO IDEA!” In reality, I’m sure he had every idea since his company started out much like mine and he has had his share of problems. At the time, its hard to see others problems when you have one right in your face.

Back to the real issue, My cash flow was crazy! I had people spending money that was stupid! We were paying for $20 services here and there for whatever reason. I tried to go through it all but it was too much so I called the bank and asked for another card. They cancelled the one everyone had on file and then came the calls. I screened each vendor one by one and was able to reduce my outflow by 30%. This kept me in business and its a lesson that is was able to work through. I’m sure your stories are smilar.

One thing is true, I don’t care what business you have. If you think that running a business is home free, no one telling you what to do, being your own man or whatever pipe dream you tell yourself… None of it is true. Its 1000 times harder than what you think on the onset. Rest assured its possible only if you apply yourself. Owning a business is about trading one problem for another. The success of your business is  directly related on how well a problem solver you are.

And that is food for thought… jm

Posted in Uncategorized