Rise & Fall of a Multi-Million Dollar Brand by Stacey M. King

Author:Stacey M. King [King, Stacey M.]
Language: eng
Format: epub
Tags: muti-million-dollar-brand, Banaban, business, global-brand, entrepreneur, success, failure, I-did-it-my-way, Stacey-M.-King, philanthropist, activist, Cause, Australia, Fiji
Publisher: Banaban Vision Publications
Published: 2021-05-22T14:00:00+00:00

16. With the Palace of Dreams. The four factories were now all in one facility.

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As soon as the paperwork was lodged for our tax return, I advised him in writing that we no longer required his services.

He was so confident of my relationship with Con and so out of touch with me as a client that he could not believe I sacked him. He thought our business was working so well that he assumed it would be easy to just sit back and compile reports after the event and get well paid.

Well, the gravy train had just come to an abrupt stop. From that day on, my opinion of accountants waned. In fact, this episode was only the beginning of what was to come.

I spent the following months researching the finance for our $250,000 fit-out. Unfortunately, our builder was not happy to submit an amended invoice to cover the total amount.

It was now a year since the fit-out, and he had already submitted his tax return for the year. We had paid him staggered payments as each section of work was carried out.

There were other contractors involved, including electricians and air conditioning technicians. It was proving too difficult to bring all the paperwork together that I needed to secure finance.

I explored other options, but now with such an increase in sales, staff, and overall productivity, I needed to concentrate on boosting our cash flow to meet the growth.

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