This is either the best thing ever....or the worst prank.

[Jester]

Unfortunately, I have seen it before. Companies that want to make the jump to the big time and go out of business because of it. Not because they were not profitable, but because they failed to manage their cash flow.

Saw it right here in KW not that long ago. One of the best Key Lime Pie shops in town started to expand very rapidly. They went from one shop to two, and then four very quickly...and now they are gone. Don't know the specifics of what happened, but do know their end came not that long after their rapid expansion.

Damn shame...they very well may have had the best Key Lime Pie in town!

[EricKei]

I'd be concerned about a company that runs this tight to margins that a non-paying client can cause them to miss payroll.

...Especially because the average collection rate on Receivables in many industries is somewhere around sixty percent (before siccing the Collection agents on late payors)...

[csquared]

This is a common problem that companies like this run into. I am sure Seraph understands from her own work. On these types of projects, you get paid when the job is done. In the mean time, you still have to pay your bills. This can create a cash flow issue.

To make it worse, the larger the project, the longer it takes. That translates into the longer you go before you get paid for it. On top of that, more expenses before you get paid.

Unfortunately, I have seen it before. Companies that want to make the jump to the big time and go out of business because of it. Not because they were not profitable, but because they failed to manage their cash flow.

Still have my fingers and toes crossed that the paycheck shows up shortly.

[Seraph]

I'd be concerned about a company that runs this tight to margins that a non-paying client can cause them to miss payroll.

I'm extremely concerned. Aethian hit it right on the money though, they were at that point where they needed to expand, or stay the same. Its a bad, bad point to be at.

I'm definitely going to be working on a resume now, though. Going to have to be experience-and-skill-based, though. /sigh

[Silvercat]

*finger crossed*

If everything else still seems good, I'd say stick around.

[Aethian]

I don't think it was they were running a tight margin but I do think they are trying to expand too fast. Having multiples not pay could kill anything tho. I'd say stick it out for awhile longer.

[Crossbow]

They've actually been around for a while, no indication this is a recurring problem. The explanation is that they were trying to expand, and taking on some new clients...who aren't paying. They had expected the payments, and now have been unable to make payroll.

I'd be concerned about a company that runs this tight to margins that a non-paying client can cause them to miss payroll.

Yes, several big clients who they expected payments from...so this supposedly was a big surprise.

I'm even more concerned that they didn't have some sort of contingency in place (or at least on the table) in case it happened. Maybe I'm too jaded, but I never expect a client to pay on time if they can get away with it. Sure, most do, but I'd rather be pleasantly surprised instead of severely disappointed.

Even without a contingency plan, you find a way to pay your people, even if it's only partial. Pissing off your employees (and failing to meet payroll will piss them off) does not keep you in business...

I really hope they can get things straightened out for you.

[Seraph]

What the holy fuck? How long have they been around? Any indication that this is a recurring problem? Possibly a payroll glitch? (They happen. I know; I've caused a couple.) What kind of explanations/excuses are they making?

They've actually been around for a while, no indication this is a recurring problem. The explanation is that they were trying to expand, and taking on some new clients...who aren't paying. They had expected the payments, and now have been unable to make payroll.

Did they just take on some new big clients? I know that can cause a hiccup if they were assuming they would have to money and don't yet, but it's still a shitty way of doing business. You should ALWAYS have your payroll no matter what.

Yes, several big clients who they expected payments from...so this supposedly was a big surprise.

[EricKei]

....uhhh.....Guess you kinda missed last page, then. :|

Yes, I did. Didn't see the second page marker. Mea culpa.

*reads*

That would explain why they were so free with the money they were offering...

Here's hoping that it is but a pebble in the road >_>

[42_42_42]

I read this whole thread waiting for the other shoe to drop and hoping against hope that it wouldn't....so now I'm hoping that wasn't a shoe that dropped, but just a pebble that was stuck in said shoe's tread....

[Mishi]

Dude
Hope they get it sorted out and that you get paid soon. *massive hugs*

[Draper Mel]

Aww, man! I missed this thread when it started. I noticed it was really long, so I was kind of thinking there was a snag of some kind.

I hope they get their shit together and things work out for you.

[kpzra]

Did they just take on some new big clients? I know that can cause a hiccup if they were assuming they would have to money and don't yet, but it's still a shitty way of doing business. You should ALWAYS have your payroll no matter what.

[Crossbow]

Let me clarify.

Nobody at the company got paid last pay period. They did not make payroll. This is...really, not good.

What the holy fuck? How long have they been around? Any indication that this is a recurring problem? Possibly a payroll glitch? (They happen. I know; I've caused a couple.) What kind of explanations/excuses are they making?

[Seraph]

Awesomesauce with cheese on top

Stories can come another day. As much as we all enjoy sharing and reading them, it's a GOOD thing when one of us gets to the point where we're doing MUCH more reading than sharing ^_^

Go. Kick some ass!

....uhhh.....Guess you kinda missed last page, then. :|