with business coach and strategist Isaac Bardos
Prepared for print by Ilana Keilson
Recap: Michael had thought bringing in a new partner, investor, and manager would save his business, Foodies, but it led him into $1.4 million of debt. Isaac advises Michael to meet with those people to create accountability from the top down.
I ask a question I’m pretty sure I know the answer to, because as it is, Michael is struggling to generate enough revenue to cover his expenses, pay back his debt, and become profitable again.
“Michael, what’s your take-home pay?”
Michael doesn’t respond — he doesn’t have to. I’ve seen this before. Michael is paying himself last; he’s making himself Foodies’s sacrificial lamb. But by making himself the korban, he’ll ultimately sacrifice the whole enterprise, which is why it’s important to get the ball rolling.
“Set up those meetings,” I advise him. “Once you’ve met with Josh, Samantha, and Josh’s father, we can take it from there.”
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