Hello all,
I am sorry that things have not gone as planned with FTech. I did not want to get into any form of argument but having read some of the comments on this forum, I feel that I owe it to you, as a loyal customer base to demystify some of the commentary around my departure from the company.
I founded FTech in 2014 and had a small customer base. My intention was always to expand the company and to provide more services. Tim came on board as a partner in 2015 having been able to set out plans for expansion, which included securing the premises and the becoming the company you all know. Tim’s role and focus were to be on the business side of matters including obtaining the work and to expand the business.
F-Tech to me was more than a day job. It was a life long dream of doing what I love on an independent basis. In short, having worked at some of the most prestige places such as HR Owen in London, Carrs Ferrari/Maserati and Porsche in Exeter, I knew that I could offer more to my customers and better rates and with better services. Like any dream, I worked extremely hard to make it a reality which included evenings and weekends (how my girlfriend has put up with it, I’m not quite sure!)
This has been largely because Tim is not an engineer and has a sole focus on the business. The business itself could only continue to work if there was a constant flow of business. Unfortunately, his side of the business has not materialised to the extent that I had to take a second job, as I could no longer afford to work at the very much reduced rate the business was paying me.
It was a decision that kept me awake at night, because I did not want to give up my dream. But unfortunately, I was forced to apply for work in March of this year. I think you can all appreciate there is only so long you can work for less than your value in order to keep your head above water
It was agreed that I would resign as a director but continue working in my days off as a contractor at FTech to keep servicing our customer base and pay the overheads. My decision to carry on in this way, when I could have left in March was to ensure that you, the customer needs were met. I’ve always had a commitment to that, and I have always valued your custom.
Tim and I have an agreement that at the end of the current tenancy I will buy the equipment and the customer base will continue.
Business relationships sometimes breakdown. That is the unfortunate nature of the world we live in. I am not going to get into a verbal war with a former business partner. I am sure that you can all work out from the above where the problems lie.
I did however, want to take the opportunity to thank you all for your business and support over the lifespan of FTech.
The future holds and exciting prospect. I am sourcing new premises and will be aiming to carry on building the company I started with, the company that dreamt about and the company I started to make a reality.
Ray Dalio, one of the worlds best businessmen once said that “pain, plus reflection will equal progress”. I am a believer in learning what I can from when things don’t go to plan and bouncing back even better than before. On this occasion , I will certainly be more careful about my investors and business partners going forward.
Thank you all for your kind words of support. I will see you in the near future when things get back to where they should be.
Thank you.
Dan