Running a business is a lot of responsibility.
There are always things that need to be done especially on the backend of any business.
You have taxes, bills, utilities, rent, and of course payroll.
When you have a business with employees it becomes a whole lot more responsibility.
The responsibility you immediately take on the moment you hire your first employee
- You immediately become responsible not just for yourself and your family but also become responsible for your employees.
- They are a representation of you and you are a representation of them
- If your employees have others they are responsible for (wife, husband, children, parents, family, pets, etc.) you also take on the responsibilities of your employees.
- This causes the responsibility of the business owner to go several layers deep
- If you don’t make payroll on time you affect many more than just your employee
- When you give the extra time or bonus, you affect many more than just your employee
- This to me is the ultimate responsibility and its one that I refuse to take lightly
Now, let’s reverse the roles and expand on this…
If your business offers any terms to your customers/clients this will hit you hard and hopefully them harder.
In my business, we are a 3rd party installation provider for some of the world’s largest named providers in the GPS fleet tracking and dash camera industries.
We typically extend terms, normally 30 days, to our customers (the GPS and Dashcam companies). They send us work, we complete the work to their exact standards and procedures, payout of pocket to cover all expenses including our employee’s payroll!
What burns my ass is when Joe Dick employee over in accounts payable doesn’t have the same values as me and delays payment or simply wants to cut out early on a Friday afternoon to start his average ass weekend. This put EXTREME unwarranted stress and financial burden on the 3rd party small businesses that allow these GPS/Dash Cam companies to operate. Without the skilled services we provide, these companies couldn’t put a device online and collect their MRR (monthly recurring revenue).
I know all businesses, regardless of size, can and will have cashflow issues at some point in time. It’s bullshit when it’s caused by a sheer lack of respect for what the guys in the trenches, the one who goes out and actually see your clients face to face do for you day in and day out.
Without the support of installation providers such as myself and countless others, the GPS/Dash Cam industry wouldn’t be what it is today.
Employer & Vendor Payroll Responsibilities
Don’t forget to visit my website and grab a copy of my book at Tomaskeenan.com
Join The GPS Tracking Installers Facebook Group
Check out the GPS Tracking Installers Facebook Group and connect with other successful industry professionals… Oh, and it’s FREE so get over there and join NOW! See you in the group.
Subscribe To The GPS Tracking Installers Podcast And Connect With Tomas Keenan