From Pharma Sales to Payroll Success: John Washcovick on Building and Selling a Business
John Washcovick on Building and Selling a Business
In this episode of Built Without a Net, I sat down with John Washcovick, whose career journey is anything but ordinary. After 23 years in pharmaceutical sales, marketing, and operations, John took a leap into entrepreneurship - leaving the corporate safety net to launch a payroll services company. Over the next 12 years, he and his partners built a business serving more than 900 clients across Milwaukee and Phoenix before selling to isolved in 2022.
From Corporate Comfort to Entrepreneurial Risk
For decades, John was well-compensated in the pharmaceutical world. But despite his success, he wanted something different - independence and ownership. With his wife’s support and the backing of two partners, John entered an unfamiliar industry: payroll and HR technology.
It was a risk, but one buffered by careful financial planning, strong mentorship, and the confidence that even if the business failed, he could rebuild his career elsewhere. “That was kind of my net,” John admits. “But I also got humbled very quickly.”
The Challenges of Building a Payroll Business
John’s role was clear from the start: drive revenue. Yet the early years were filled with balancing growth and costs. Landing new clients often meant adding more staff, keeping profits elusive. Hiring was also a challenge - without benefits early on, they had to find part-time workers or recruit talent from competitors willing to buy into the vision.
Vendor partnerships proved another pain point. One major third-party failure nearly derailed the company. They survived only because a backup vendor had been secured in advance - a decision that likely saved the business.
Lessons in Leadership and Growth
Reflecting on his journey, John shared lessons every entrepreneur should hear:
Cash is king. You’ll always need more capital than you expect. “Whatever you think you need, double it,” John advises.
People make the difference. One great hire can dramatically change a company’s trajectory. Profit sharing and benefits, once feasible, build long-term loyalty.
Customer service is everything. The customer isn’t always right—but they should always be treated with dignity. The same applies to employees: accountability plus support builds retention.
Networks matter. Even after years in a global industry, John discovered a strong local network he could tap for referrals and connections.
Enjoy the journey. Gratitude, perseverance, and attitude carried him through the grind. “You’re going to spend a lot of time doing this - you’d better enjoy it.”
A Successful Exit—and Paying It Forward
In 2022, John and his partners sold their payroll company to isolved, the very platform they had been using. Their 25 employees were retained, and John transitioned into a new role as a Human Capital Management Consultant for Wisconsin.
Now on the other side of his entrepreneurial journey, John shares his story with candor, offering both encouragement and caution for those building businesses without a net.
🎧 Listen to the full conversation with John Washcovick on Built Without a Net here: Apple Podcasts (also available on all major streaming services).
⭐ If you found this story valuable, please consider leaving a 5-star review—it helps more leaders and entrepreneurs discover the show.