In 1997, I started a software company. We ran it successfully for four years. We were profitable, paid well, and had a great team.
Then our biggest client went out of business and defaulted on a massive invoice. A week later, the economy went into a tailspin, and every other client called to say they were pausing all projects.
The months leading up to the final collapse were rough. I remember walking home from the train—just a quarter mile—hunched over and shuffling my feet like an old man. I remember wanting to stop at Trader Joe's for a $3 bottle of wine, but reminding myself it wasn't practical on the current budget.
My eyes were focused on the ground when I walked past a concrete jersey barrier at a gas station. Written in an Olde English font near the bottom were three words: EXPECT A MIRACLE.
I had no money, no prospects, and no hope. But seeing that graffiti changed the weather in my head. I didn't know how or where a solution would come from, but I decided to just expect one.
A few days later, we had less than $500 in the bank. Payroll of $40,000 was due in two days.
I called the team—ten people at the time—into the conference room. I told them we were done. There was no money. Their health insurance was canceled effective immediately. I told them I loved them, but it was time to go home.
We sat in silence for a full minute.
Eventually, Jim, who had a reputation as a wise-ass, said, “I’ll stay.”
I thought he was being sarcastic.
Then Mark piped up: “Me too.”
Then Thomas: “Me too. You'll come up with something.”
One by one, around that dark wood table, every single person said they’d stay. I told them they were just caught up in the adrenaline of the moment and would probably change their minds by morning.
They didn't. Every day for two months, they came to work without pay.
Eventually, we landed the largest client we'd ever had, which allowed us to sell the company. During the sale, I negotiated exactly two terms: the acquiring company had to hire the entire staff, and everyone had to get a raise.
Corporate culture isn't a list of values on a wall. It's what happens in the sixty seconds of silence after you tell your team the bank account is empty. And sometimes, the miracle is just the people sitting in the room with you.