You will get paid. Trust me.

 

My ‘Coffee with Colm’ topic this week centres on the importance of your professional reputation.

We are, each of us, positioned today exactly where we are based on how we have performed in the past, good, bad or indifferent and I touch on this in my book, Feeding Johnny – How to Build a Business despite the Roadblocks when we get to the point in the story where my failed business, a Bewley’s Cafe Franchise, has entered the final death throes.

Below is that snippet from the book for you to consider. 

For context, we had moved to Limerick from Dublin in 1998 to take on the Bewley’s Cafe Franchise there – our first venture away from the relative safety net of the corporate world. The business failed finally in 2005, having lumbered to a slow painful death following a ridiculous rent review in 2002 that pushed our rent to €1,000 PER TRADING DAY! Our fledgling School Lunch Business was trading from a different premises and we needed to keep it alive if we were to have any chance.

What follows in the snippet, entitled, You will get paid, trust me tells of some of the most difficult conversations I hope to ever have to face.

You will get paid, trust me.

“There is no money. The café will close soon. I need you to trust me. I need you to continue supplying the café and also to continue supplying the school lunch business. You will get paid, I just can’t say when.”

This was the gist of the conversation I started holding with each of our suppliers in January 2005; not an easy one to have.

I was effectively asking each of them to a) not expect money for invoices that were coming due or were perhaps outstanding in January 2005 and b) as if that wasn’t enough, to continue to supply both my businesses on credit and trust until further notice. To have them discontinue supply for any element of either business would have made it very difficult to continue trading and we needed to continue trading to give ourselves a chance at surviving. We were treading very deep water and if we stopped treading we would drown. If one stopped we would never find a replacement.

That is a lot to ask anybody. Imagine if you were our supplier to one or both businesses – all of the suppliers to our school lunch business were suppliers to our café business initially – what would be your gut reaction to my request? Would you be nervous? I would. Angry? Perhaps?

Effectively we had three types of supplier: Corporate suppliers, SME’s and small mom and pop-style operations and each one had its own unique process to go through to see whether they could or would support us. The mom and pop’s at one level were easiest because in most cases we were dealing daily with the owner him or herself. However being, in the main, the smallest operations, they had shallow enough pockets meaning their consequent ability to fund our cash flow problem for an extended period would prove difficult even if they wanted to help.

SME’s are typically that bit bigger with a management structure involving the guy on the ground, i.e. the salesman, with whom we had the relationship and so the conversations started with him and very quickly entered the phase where the owner of the company hurried in for a meeting. In a funny sort of way the SME’s often have less access to funds than mom and pop’s because they are often very highly indebted as a result of their investment in growing from a mom and pop operation to becoming an SME.

The Corporates were a different animal altogether. Here we dealt with the salesman, as with the SME’s. He would wheel in the regional or perhaps national sales director who then had to ‘put a case’ forward to the board recommending that they continue or otherwise. There was stress at all levels. The salesman was in the spotlight for ‘not seeing’ this thing coming down the track; the director similarly for not being on top of his sales people and their accounts.

But we found ourselves where we found ourselves and no amount of if only’s were going to make it go away; we all had to ‘confront the most brutal facts of our current reality’

They all agreed!

They agreed because of our track record.

Every supplier continued supplying one or both businesses until we finally exited Cruises St in March 2005.

Once the dust settled and we knew what funds we had access to, we met with each and closed off the account to the full satisfaction of all parties.

If you enjoyed that snippet and would like to watch me teach the lesson on Professional Reputation in a 5-minute video, click: https://colmobrienmotivation.com/2016/04/28/you-will-get-paid-trust-me/

If would like a complimentary copy of the book in audio, narrated by yours truly so you get all the nuances, feel free to grab one here: https://colmobrienmotivation.com/freeaudiobook/

If you’d like to find out more about my one-day Seminar in May for SME Business Owners and Senior Professional Managers called ‘Take-Off’ visit https://colmobrienmotivation.com/takeoff/

Thanks for thinking with me.

Yours truly

Colm

 

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10 Responses to “You will get paid. Trust me.”
  1. David Doyle

    Nice stuff Brian, Thanks for sharing.

    The message applies to any type of career transition.

    Reply
    • Colm

      My pleasure David, thanks for commenting.
      Agreed it applies to all professional transitions

      Colm

      Reply
  2. Lorraine Duane

    Professional Reputation.is everything Colm. Your suppliers were very patient well done on your success. A true inspiration. Thank you for sharing.

    Reply
    • Colm

      Thanks Lorraine. Yes they were. We needed them to be. Truthfully they needed to be too if they were to have any hope of getting anything. It took nerve on all sides though. Keep up the good work you. 🙂

      Colm

      Reply
  3. Sean M Kelly

    Hi Colm

    Just the end of the week here and I really enjoyed listening to your message thanks a lot. And very well produced video. Congrats

    Reply
    • Colm

      Thanks for the comment Sean. Amazing what can be done on your phone and with a bit of free software these days 🙂 Tune in next week for more. Share on too of you wish.

      Colm

      Reply
  4. Lisa Chalfa

    Another great snippet Colm, thank you. You were fortunate to have such suppliers however, anyone who has met you will know that you are a man of integrity and I’m sure it has actually worked out to your suppliers benefit in the long run. #FeedingJohnny is a must read for anyone in business #LoveIt Thank you.

    Reply
    • Colm

      Thank you Lisa.

      It was sort of a situation that if anybody ‘threw their toys out of the pram’ so to speak, we’d all lose so everybody played ball. But as I said to Lorraine above, it took nerve (despite the trust) on everybody’s part to let it play out.

      Worked out well in the end.

      Colm

      Reply
  5. Antoinette Reilly

    Hi Colm
    Its just like i had a Bath in honesty, i feel refreshed, that was just fab,
    you know when someone is just honest,it gives freedom for so many
    others to do likewise. Great play, thank you

    Antoinette

    Reply
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