At this time last week, I was facing multiple challenges:
- The City Building Department wanted to take me to court over an air exchange unit that wasn't installed;
- The engineer who designed the system wasn't returning calls;
- Both of our family's cars were broken down;
- We needed cash, both for the business and home, that we didn't have.
The short backstory: while trying to comply to the City building code, we found ourselves shooting at moving targets. The checklist for acquiring our occupancy permit kept growing. Worse, the engineering duo we hired created far more problems than they rectified, at enormous cost. The bureaucrats were interested only in their checklists. The engineers wouldn't return phone calls after being asked to reconsider their ridiculous recommendations. A year later, we were referred to the City's legal department and given a deadline of May 1st. The deadline was impossible, both financially and logistically.
Luckily, I'm a scrambler.
Back to the wall, I began to take drastic action:
- I downloaded a copy of the Ontario Building Code, prepared to read it through the night.
- I called the City's Economic Development Committee and told them jobs were at stake.
- I called everyone on the Building Department phone tree.
- I notified my shareholders that I was ready and willing to go to Civil court; and also, that if they weren't prepared for the public battle, that I was willing to trade their share of the company for the assumption of their debt, plus one dollar;
- I test-drove every make and model in the City, came in from each test drive with a firm offer, and walked away from every counteroffer;
- I called every mechanical engineering company in town;
- I started the credit application at the Bank. This was my worst-case scenario. Frankly, I doubted that I'd be funded without the other shareholders on board, but....
The result, one week later:
- I own 100% of the business. Bye-bye, shareholders!
- We have a new van, nicknamed "Hannah" Montana by my five-year-old.
- I got a lot closer to the owner of a local MMA training club...who also happens to be a mechanical engineer.
- My estimated cost, including installation, went from $12,000 to under $500, with drawings. Heck, the unit went from $6000 to $70.
The lesson: You're better when the clock is running. You're better when someone's keeping track. You're better when you're smiling, but aggressive. You're better when you HAVE to focus. Business is not all about long and slow; sometimes, you have to METCON.
As my now-former business partner always says, "If this were easy, everyone would do it." It's true. There's no guaranteed happy ending. But every hurdle you overcome is one that will trip up your less-motivated competition.