I became not only the manager but the owner!

I founded the company in 1996 and new management took over in 2005. We were financially solvent and self-funding growth sustainably in a way that would, as the kids say, “scale.” The problem was that I was extremely burnt out after ten years of 100-hour weeks and I was deeply passionate about the industry but had no idea how to run a company.

Immediately, management had trouble separating their tastes and wants from the best interest of the organization. Tremendous savings was decimated in a few years. Then massive debts were accumulated. I tried to level with management to establish a budget and pay off the debts. Instead, they believed that I was the problem and I was asked to leave. I agreed and within another 8 months the company was in dire straits. Instead of budgeting, they slashed their own salaries until they were earning below minimum wage. By the point when they couldn’t even pay themselves, they gave up.

Nobody tried to strip me of my ownership in 2006. By 2012, it was basically worthless. Still, they didn’t want the risk of buying out my remaining ownership and so they jumped ship.

I became the sole manager and owner in 2012. With a few years to recover, I learned how to manage people, and had a learned a ton in those six years. I watched so many former competitors get bought out and decimated or just disappear completely. That was incredibly motivating to right the ship.

I paid off their debts in another year by budgeting and taking on tons of freelance work. Now we own our own building and have increased sales and wages by 600% in 8 years. We still use a system of owner/managers but the volatility and personality clashes are gone. The team is much more skilled and focuses on their job duties. The former management moved out of state and started a new company, which tanked almost immediately. Maybe they blame me for that one too.

The important thing is that I am happy doing this every single day.