It was the hardest job I ever had, then or since.
I worked for a small publishing company a couple of years before I started my own. I was president and just one aspect of it made it really tough. Like everyone else, we got checks in the mail every day, but we got most of our incoming money on Monday and Tuesday. So we would decide every Tuesday who got paid.
We would, as I remember, get something like $50K to $60K on the average each week. The problem was that in that same time period we would receive $70K to $80K of bills. My job, along with the controller, was to decide who got paid and who didn’t.
It kept us awake at night and made us feel awful when we had to tell the truth to those who were being put off.
During the time this was going on I couldn’t have cared less about profit. All I wanted was to have enough cash to pay the bills. Yet it was profit, hard work and good management that finally got us ahead of the game.
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