By David Vener, an EO Albany member and CEO of Burst Marketing and its divisions, Impress and Intellisites.
I received the dreaded call on the eighth hole of the golf course. My financial officer said, “Umm … I’m not sure how we’re going to make payroll this period.” Needless to say, this alarming news put a damper on my game.
After 15 years of explosive business growth, it turns out I wasn’t paying enough attention to my company’s finances. I simply let others handle them. That conversation was a wake-up call to assess the state of my business. Along with others in the printing industry, I had sensed the general business was declining and that the warning signs were too loud to ignore. It was time for me to stop “talking the talk” and finally “walk the walk.” Diversification was in order. (more…)