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These posts are the creation of Doran L. Barton (AKA Fozziliny Moo). To learn more about Doran, check out his website at fozzilinymoo.org.

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The May-June '04 drought

Posted: 10 June 2004 at 00:59:25

This week has been nerve grating.

At Iodynamics, we still haven’t been able to do a distribution to partners that was scheduled for May 25. It’s frustrating, confusing, infuriating, etc.

We’ve got a couple of clients that have turned from great clients into problem clients. One is refusing to pay. Another is just being real quiet. Another is telling us they mailed the check... which never arrives in our mailbox.

Our receivables are looking real good—higher than ever—so it’s not like we’re not working. It’s just frustrating.

Chadd tried to tell me tonight that I need to chill out— we need to operate the business the same way regardless of our financial situation. I blew up at him over that. It was stupid, but it seemed really offensive to me that he’d think I hadn’t considered that. I have turned over all collection responsibilities to Mike (and Chadd, to some extent). Right now, I feel powerless, helpless and helpless. So, I took out my frustrations on Chadd.

Mike has talked to our bank about extending us a substantial line of credit so we can get through this and any future in-the-red episodes we might be faced with. Meanwhile, I just don’t understand why these people we worked hard to provide services for won’t just pay.

I’ve been liquidating things in storage in our basement on EBay. It’s earned us a couple hundred dollars. Just enough to keep our account in the black.

When it had been a week or so and we weren’t able to get the funds to cut checks, I was just mad. I was mad at the circumstances that converged at once to land us in this financial lull. Now that it’s been another week and then some, I realize the lull could have been completely handled if we had prepared for it with a cash buffer in the bank. The credit line will help, but credit is never as nice as liquid cash for a shock absorber.

So, we’ll deal. It looks as if we’ll be able to distribute something by the end of this week give or take. Live and learn. “Adversity builds character,” my dad always said. “Be responsible,” he also said.

“Dogs love to chew on sandpaper... Nobody knows why.” Thanks Dad.