Thank you for sharing this, I’m bookmarking it as a lesson/future read/refresher.

Sasha

So many talented people are switching jobs right now; I'm thinking about my talent pipeline – who will I bring in to fill gaps, where can I opportunistically grab some key talent? It's the flip side of losing sleep over who's leaving and gives me more of a feeling of control.

@Laura Thanks for your kind words, Laura! First, let me say I understand your fears about losing a valuable employee. That's what keeps me up most nights…

Cash flow has an uncomfortable way of pointing you towards difficult (and sometimes even heartbreaking) decisions. The silver lining? I think cash flow also provides focus and clarity. As human beings and leaders, we really need those gentle and not-so-gentle reminders.

I think another thing faced by people like me–tweeners, if you will, between solopreneur and full-fledge boutique firm–is cash flow. Kind of along the same lines as losing clients, but because I have a smaller “staff,” it's much more impactful and worrisome.

I will also agree with Cog about “straight talk.” My first job post-grad school was at a small non-profit, and because we were kept in the loop about finances, the other employees and I were able to make a decision to not take raises on year to save our secretary's job. That meant a lot to me–like I had power and control and was in the know. Conversely, I worked for a large non-profit where executives were never up front with money. I never got a raise or would get slapped on the wrist for buying paper clips, but I also knew they were dropping $30,000 for a single donor party or $500 on a bottle of wine at dinner. I applaud you for being so transparent with your employees.

Thanks again for your perspective!