I was a 23-year-old founder running a software development agency in Australia. I knew how to build software. Running the business around it was where I had a lot to learn.
After a merger, I’d gone from a team of five to more than 30 people. When I first messaged Bill, I had questions about hiring, setting standards and what my job as the founder should actually be.
Over the following months, the conversations became much broader. Pricing. People. Work that wasn’t making money. Cash. A partnership I needed to leave.
The numbers needed to tell the whole story
In May, Bill went through our cash-flow forecast. He asked about payroll, commissions, bonuses, project overruns and the money still owed by clients.
I needed to understand each job: the agreed fee, the hours left, the cost to finish and when we would get paid. A deposit in the bank didn’t mean the project was profitable. A profitable project didn’t mean we had the cash to pay the team that week.
I took his questions, added the context of our business and went back to clients to discuss payment terms. I reported bringing in about $70,000 that month, with another $40,000 expected, and a separate $15,000 improvement in monthly recurring revenue.
At the time, I said that gave us another four weeks of runway without additional sales. It bought time. We still had to finish the work and deal with what was consuming the cash.
Advice had to become action
By June, I was reporting changes to headcount, commission arrangements, delivery leadership and project tracking. Some were in place; others were still being worked through.
Our delivery lead was doing a lot of the operational work too. Bill’s perspective helped, but the changes depended on people inside the business following through.
The question became practical: who owns the next action, when will it happen, and how will we know whether it helped?
I needed to slow down a major decision
At the same time, I was working through an exit from the partnership. Bill wanted to see the agreement and understand the facts before giving his view.
That helped me question what I’d assumed I had to accept. What had each side committed to? What did the agreement actually say? What were the options?
I later reported that a proposed $150,000 exit payment had been removed. Lawyers handled the legal resolution, and legal costs and other terms remained separate. Bill’s contribution was helping me examine my position and seek proper advice before signing under pressure.
Useful decisions didn’t add up to a recovery
The cash gap was still there. By August, I was trying to reduce scope, finish work that would release payments and bring the team’s commitments back within what we could manage.
Those improvements weren’t enough. I was eventually working through an insolvency plan and deciding what to do next.
I take responsibility for that. There were useful outcomes along the way, but I don’t want to present them as though the business was saved.
What I would do earlier
I wish I’d brought Bill into the full picture sooner: the numbers, the backlog, the people issues and the partnership. We were already talking. I needed to share the complete situation and act on the advice before so many commitments had built up.
I can’t say the business would definitely have survived. I do think I would have understood the choices earlier, while there was more room to act.
That’s the lesson I would pass to another founder. Get a useful perspective, give the real picture and do something with what you learn.