The Write Podcast, Episode 13: From Embezzlement to Success, Our May 2016 Story & 4 Major Biz Lessons
I’m here on the podcast today, raw and authentic, sharing an episode that took me four weeks to figure out how to say.
We went through one of the hardest months we’ve ever had in May this year, after discovering that two managers I’d trusted for over three years were embezzling from our company for a span of eight months. That month and the ones following were a trial by fire.
But we came out refined.
Join me and my solo self in Episode 13 today on the Write Podcast. Listen to the full story of the embezzlement that happened to us, how I took immediate action steps that worked and what those were, and the four major life business lessons I learned. Enjoy!
Episode 13: From Embezzlement to Success, Our May 2016 Story & 4 Major Biz Lessons Highlights
One day in May, I had this gut feeling that something was off. It was like knowing that I had a mole somewhere in my business, but I couldn’t identify or pinpoint what exactly was going on, or what the problem was. That month, I paid everyone and then had I nothing left to pay myself.
Where was the money going?
I took a dive deeper. I audited the business after payroll that day, working late into the night and looking into all our finances at the company. I was shocked. Two of my main staff members were claiming three times the work they had actually done. My stomach felt sick.
4:10: Learn the action steps I took after the discovery in the second lesson I detail on the podcast.
It’s been more than three months now since this happened, and not only have we fully recovered, but we’ve reinvented so many of our processes that we’ve seen a higher client satisfaction rate than we’ve ever had. We have deeper team communications, and I’m hands-on in the training for every single new hire. We’ve found amazing new writers in the past few months, trained new staff members, and brought on some truly creative minds that are the force behind our better quality.
We’re in a better place than we’ve ever been, all thanks to the scary month of May and what it did to inspire me to take better steps. Here’s a summary of the key lessons I learned: listen for the full story on each!
- Lesson one: Schedule and do a deep audit on your business finances every few months, if you run and own a business.
- Lesson two: Honesty and transparency works.
- Lesson three: you can’t cut corners, rely on one single process, or expect to put in no effort if you want to deliver an incredible product every time you serve your clients.
- Lesson four: when you find amazing people, grab them fast and don’t let them go.
One more step that is going to happen for Express Writers this year, the cherry on top to our reinvented process, is the launch of brand new custom development in a new Content Shop and internal systems that my CTO Josh has been developing for more than 13 months. Our Content Shop v. 2.0 will be launching along with the custom built team room in about two months from now. It will be so much easier for our clients to order and our management team to pick best-fit writers for every order. Stay tuned!
- Sign up here & stay tuned for the Content Shop Launch!
- Here’s the blog recap I posted shortly after the May embezzlement outlining our action steps
- Check out our back-to-back Write Podcast episodes here
- *drumroll*…. and if you haven’t, don’t forget to check out my book So You Think You Can Write? The Definitive Guide to Successful Online Writing
Like my podcast? I would greatly appreciate your time to leave me a rating & review in iTunes! Click here to go to iTunes.
Favorite Quotes to Tweet
'It’s vital you know where every penny is going in business.' @JuliaEMcCoy Click To Tweet
'People are human, not robots. You never truly know them till they work in their role.' @JuliaEMcCoy Click To Tweet
'Honesty and transparency work in business.' @JuliaEMcCoy Click To Tweet
'I’m an authentic content marketer. I had to go with my gut and tell the true story.' @JuliaEMcCoy Click To Tweet
'It's amazing how transparency can unite you to your client base.' @JuliaEMcCoy Click To Tweet
'Find people who help you build processes instead of just band-aid a problem.' @JuliaEMcCoy Click To Tweet
'The creative-at-heart is the kind of person that is the fit for our @ExpWriters team.' @JuliaEMcCoy Click To Tweet
'I started my company on the principle of passion and growing a team of people that share my passion for online writing and content marketing.' @JuliaEMcCoy Click To Tweet
For great content writing, visit our Content Shop.