What Was Your Near-death Business Experience?
GORD HUSTON (l) (Listen to Huston's full story on our Inquiring Minds Podcast)
President and CEO, Envision Financial
“I was away on a business trip and my CFO called me and informed me that a million-dollar fraud had taken place. I got on an airplane and flew home. The money really wasn’t the problem – it was insured – but I had to stand up in front of my people and explain to them that someone that everyone worked with closely had caused this damage to the organization.”
RAVI PANKHANIA (c) (Listen to Pankhania's full story on our Inquiring Minds Podcast)
Creative director, Ravi Design Co.
“We expanded our business and moved into a space that was four times the size of our previous space. At that exact moment we were crippled by the loss of our head of production, the key to the engine of our business. It became a financial crisis: when you can’t produce work, you can’t pay your overhead. Cash flow became a problem. We planned to grow, and then were forced to regress.”
ANDRÉ MOLNAR (r) (Listen to Molnar's full story on our Inquiring Minds Podcast)
President, Molnar Group of Companies
“It was at the end of 1982, when I realized that the economy had hit rock bottom. All the success I’d had in the ’70s was supported by inflation. We thought we were brilliant, but it turned out we were just in the right place at the right time. When the end of ’82 hit, we lost millions. Suddenly you realized that we weren’t smart, just lucky. We survived, but 1982 and the beginning of ’83 were tough times. We lost a lot of money."
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