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EP43 Ultimate Payroll | Ken Courtright’s Today’s Growth | Growing Business Today
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Hey guys. Ken Courtright here from Today’s Growth Growing Business Today. This is part 3 of a 4 part series. It’s kinda of an oreo cookie. It’s a sandwich starting off with purpose and dream and the Why. In the middle of it, the frosting, basically is struggles. Are they necessary? Who struggles? How many people struggle? What types of struggles are out there in business? The other side of the cookie is again, purpose, dream and why. We are still in the center of this cookie. Instead of sweet stuff, we are talking about some difficult stuff and I am going to relate simply two stories. This will be a pretty short podcast but we were at the digital footprint, Philadelphia. We had some amazing, amazing talks and Sunday night when it was all over. We had a team about 13 people get together. Everyone had a drink when they went home. At the table was Brian Smith from the founder of UGG boots. Jeff Hoffman, the cofounder of Priceline and if you have ever been to an airport and you see a kiosk where you put your credit card and it kicks out a boarding pass electronically, that was a product of one Jeffrey Hoffman. Round Table of Heavyweights So we are at the table. There are a bunch of entrepreneurs, business owners, Ron Fossum is sitting there the owner of Smart Money financial group and this guy, this is like EF Hutton. When Ron speaks, people listen. This is the man that nobody can come into the office on Friday its just Ron and his yellow notebook paper. He thinks all day long. And its why he has, I don’t know, how companies, how many asset classes his fund manages. But Ron is sitting there next to Jeff Hoffman is it’s literally like an expert panel. So I wanted to lighten the mood you know a little bit. Everyone was talking business. I said anybody got any good payroll stories. Like not meeting payroll. I brought this up because on the previous podcast episode I was telling you guys about how Brian Smith has his mantra card. And how that led to a company raising million dollars the day after his talk. I really wanted to pick back up on that. Cuz I had some studs at the table. So we went around the table. I want to throw out a story from Jeff Hoffman and then I am going to add a story from Fred Smith’s autobiography. Fred Smith is the founder of Fed Ex. And so I am gonna go right to Jeff. I said anybody got any good payroll stories and he said, oh I got one. There is no question I got a good one. He goes, in one of the early days of our company I can’t remember if this is Color Jar, his current company. I can’t remember if this is the kiosk or Priceline I don’t remember. But he has started so many huge companies. But he said in the early days, we were struggling. We didn’t have funding. Any ability to pay people a solid salary. It was just a bunch of great people. Getting together. I remember one day. I had gone by the lunch room. And I saw all of the guys playing poker. Even a couple of ladies playing poker every Friday at lunch break. And it would kind of bother me because they knew I was struggling to make payroll. Yet here they are just throwing 10’s and 20’s around playing poker and yet all they would do is grumble during the week under their breath. Finally after about 6 to 8 weeks of me going to lunch looking through the window, they would catch me locking eyeballs and they would all look down and pretend I didn’t see them playing poker. Finally, my feelings were so hurt, I walked into the lunchroom. Everybody quickly grabbed the money in front of them and pushed it aside. They put a notebook over the pot in the middle. I said, guys come on, you have got to know that I know you guys play poker every Friday. And nobody said anything. Nobody even looked at Jeff.
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