Started my own business in 2003. Signed a contract with a state government agency that gave me the freedom to quit my job. Hired three other people, including one of my best friends.
Wife was working part time. One daughter was 14 and in private school, the other 5 and about to start.
Government agency suffered budget cuts. Head of the agency and my main supporter took furlough. We would get paid, but we'd have to wait a year at least.
Borrowed. Sold. Didn't pay myself. My friend wasn't in to not getting paid. Demanded full salary, wouldn't accept cuts or wait for things to get better. I had to fire him. It was bitter and we aren't friends any more. He thinks I lied to him about the company's situation when I took him on.
Got the bank to float me a loan based on the recievables but that meant I was spending money I didn't have based on money I hadn't gotten that would be gone when it got there.
Was literally one week away from total collapse. If I'd had to go one more week without something hitting it would have been over.
But I prayed. A lot.
And out of the blue I got another small contract that kept the doors open, and then the furlough ended and I got payment and a renewal there. They recommended me to another agency because I'd kept helping them when everybody else shut them down until they paid and that brought another contract.
Ten years later? It's all good.
Luck is a combination of hard work and faith. If this is what you're led to do, keep plugging away.
29 Replies
4152 Views