Ep 21: A Half-Million Dollar Lesson on Fraud
Small Business Big Deal Podcast
English - February 05, 2021 16:06 - 49 minutes - 46.5 MBEntrepreneurship Business Marketing bigdeal businessowner entrepreneurs jmlconsulting kansas smallbusiness tracyjepson Homepage Download Google Podcasts Overcast Castro Pocket Casts RSS feed
Many companies small and large end up dealing with fraud at some point, but a family business never expects one of their employees to steal more than a half-million dollars. That’s exactly what happened to the Stevenson Company, the metal works company behind many beautiful designs around Topeka and beyond. Owner Joe Pennington opens up about the experience and the hard lessons learned.
Read more and get additional resources here: https://tracyjepsonpodcast.com/podcast/ep-21-a-half-million-dollar-lesson-on-fraud/1346/
About our guest: https://www.stevensoncompanyinc.com/contact/meet-the-team
What we discuss on this episode:
0:53 – What is the Stevenson Company?
2:40 – How Joe got involved in the company
5:15 – Did you ever expect to own the business?
7:37 – What do you wish you knew earlier?
8:25 – Employee stole a half-million dollars
18:49 – Helping other businesses with fraud.
22:56 – His book
25:26 – Lessons learned about fraud
29:16 – Why his employee was always at work
32:49 – Projects he’s proud of
37:55 – Work-life balance
40:52 – Will the family business be passed down?
43:57 – Bonus Content