I’ll never forget the day my father, Neil, stood on a box in front of the entire company. He was the President; I was 22 years old and was the entire “IT department.” 90% of the 150 employees worked in the factory.
He stood up and said, “Our company is in trouble, but we have a plan to survive and then grow again. Part of the plan is asking all employees to take a 10% pay cut.
“The senior staff will be taking a 20% pay cut.
“I know that this is not easy for anyone, but we commit to raising the wages back as soon as possible. Any questions?”
After a few complaints, a tall and broad man named “Big John” raised his hand. He said with a crack in his voice, “I’ve been laid-off twice. No one ever asked my opinion or gave me a choice.
“Thank you for asking. I support the reduction 100%.”
Everyone fell in line after that.
The company survived and wages were eventually restored.
The lessons I learned?
Sometimes cash flow issues are not about the cash. They are about the people involved in a business, the emotions, and the mindset.
"I am very appreciative of the time David was willing to spend with me. From the first contact, he was warm, welcoming, and sincere and that carried over to and throughout our initial consultation. David's advice and feedback were certainly helpful in regard to the nuts and bolts of my situation, but also, and possibly more importantly, in regard to my personal mindset and view of the challenges faced.
I am impressed with David’s vision of how he can help small and large businesses alike become more efficient and effective. I am equally impressed by the way he is going about accomplishing that vision! I am happy to give my recommendation."
Cash flow and business challenges can be very emotional. It is never "just business."
Are you totally detached and unemotional about your business?
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