Robert Meggy is an accountant by profession but as a businessman he knows how to weather an economic downturn.
In 1982, Meggy bought the Great Little Box Company in Vancouver just before the recession took the knees out of the economy. His sales numbers plummeted overnight.
“It was like someone had turned off the tap. During the day I’d be operating the machines and answering the phone and at night I’d write up the orders when we had them. It was an ugly time and I lost 15 pounds.”
Meggy weathered the storm (and other recessions to follow) and today his company employs 250 people and is on target to make $40 million in 2012. Meggy credits his success with assembling the right team.
“I run it like a group of friends and I walk around the plant every week and talk to as many as I can. We set yearly goals and measure progress every month. When you run an open book employees care more. Enjoy the people you work with because it makes a huge difference.”
From this accountant, that is advice you can take to the bank.