The Day We Couldn’t Make Payroll
Best of 2013. This was the 5th most popular Blog entry for 2013. It was original posted on August 2.
It was one of the worst days of my professional career. I was the Executive Vice President of a 10 person startup called Agile Studios that designed web sites and custom software applications. My title was Executive VP, but my real role was resident grown up.
Like many startups, we were chronically short of cash. It was a challenge every month to make ends meet. And then one month they didn’t.
Brett, we’re short.
How bad?
If we don’t pay any of the three managers, and just pay developers we can cover about 75%.
Until when?
Well, I think we can get Taj Remodeling to pay us early for next month. But, best case we’re talking next Wednesday at the earliest.
How’s next month look?
Better.
I sent out an email to the employees.
Agile Staff,
Receipts this month were lower than we expected. Tomorrow is payday and we will…
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