941 Payroll Tax Workout | SBA Loan Default Experts

Let’s Talk Business: Successfully Navigating the Recession. The Book Is On the Way!

On April 28, 2010, in 941 payroll tax workout, Building Profitable Business Orgs., Business Turnarounds, Business Workouts, Business debt workouts, Debt Workouts, Employees, SBA Loan Workouts, SBA Loans, SBA debt forgiveness, Sales and Marketing, Solving Difficult Business Problems, Solving Difficult Problems, debt forgiveness, the economy, by Don Todrin

First the blog, now the books, then… the movie?

Yes, my blog has been very successful. It’s been viewed by hundreds of thousands of anxious business owners wondering how to survive the downturn and resolve crushing debt in view of plummeting revenues, wondering what to do about businesses that are no longer profitable and how to survive and succeed in this horrendous business decline. I have been writing for a few years about exactly what to do and how to do it. Many have paid close attention and have followed my strategies… and many have survived because of it.

But, as we can all agree, a blog is a slightly more disorganized and difficult medium to navigate than a book. No real contents or organization, just daily posts on relevant topics. A hodgepodge of ideas.

Given how important these subjects are—your business survival, your financial survival and the survival of your family and your employees and their families—I have converted this blog into my first book: Let’s Talk Business… Successfully Navigating the Recession. This book explores what one must do to survive the economic downturn, including chapters on debt workouts. These are lessons learned in the front lines of small business hand-to-hand combat, what works and what doesn’t work.

My second book (in the works), also based on my blog, is about SBA loan debt forgiveness and workouts. My third book (also in the works) is called: Now What? Explaining What the Business Owner Must Do to Survive and Emerge Successful and Profitable. Both will be out later this year. (Available soon in ebook and hard copy versions.)

I believe these books will become field guides for small business owners trapped in a downturned economy and looking for answers as to how a business owner can manage survival and emergence, and ultimately return to profitability.

My vision is to help save America, one business at a time. My goal is to help small business owners survive, protecting the jobs and commerce that their families—and the families of at-risk employees—depend upon.

About Don Todrin

Don Todrin is the CEO and Founder of Second Wind Consultants, Inc.. Don and his company specialize in SBA Loan Workouts, Offer in Compromise, business debt forgiveness and solving difficult business problems in general. Follow me on Twitter or become a fan of Second Wind Consultants on Facebook.

There is No “Wait and See.” There is No “Neutral.” If You Are Not Moving Forward, You Are Moving Backward.

On April 23, 2010, in 941 payroll tax workout, Building Profitable Business Orgs., Business Turnarounds, Business Workouts, Business debt workouts, Debt Workouts, SBA Loan Workouts, SBA Loans, SBA debt forgiveness, Solving Difficult Business Problems, debt forgiveness, the economy, by Don Todrin

I have determined that there is a serious small business owner disease epidemic taking place all over America and it is deadly. No one ever recovers from it. No one. Once infected—unless the remedy is applied—you will perish.

What is this disease? The “wait-and-see-what-will-happen” disease, the “holding-your-own” disease, the “neutral” disease… it’s all an illusion, wishful thinking.

IF YOU ARE NOT GOING FORWARD YOU ARE GOING BACKWARD. It is that simple, and to go backward in this environment means death—financial and business death.

We have seen what will happen far too many times. Upon default, you will eventually be foreclosed on and the collateral liquidated. Your personal guaranty will also be pursued and all you have will be at risk to be liquidated. Disaster.

So, once again, you know exactly what will happen. Your only option is to take control of your destiny and pursue the following three remedies:

1. Reinvent your business based on today’s economic realities. Force profitability.

2. Downsize. Force profitability.

3. WORKOUT YOUR DEBT. The debt you took on before the recession cannot be paid back with your currently reduced revenue. It is a fact. Working it out is the only remedy.

Waiting to see what happens is like waiting for the hangman to pull the rope. Action is the language of success; waiting to see what happens is waiting to view your own business funeral. It is that simple, and even if it is not that simple, it must be done to survive.

There is a plan, however, and we have it. Call us. We will chart your course to survival, profitability, and success. Call 413-584-2581 and Norm will arrange a no-obligation teleconference. Do it.

About Don Todrin

Don Todrin is the CEO and Founder of Second Wind Consultants, Inc.. Don and his company specialize in SBA Loan Workouts, Offer in Compromise, business debt forgiveness and solving difficult business problems in general. Follow me on Twitter or become a fan of Second Wind Consultants on Facebook.

Female Small Business Owners: Where Are You?

On February 23, 2010, in 941 payroll tax workout, Building Profitable Business Orgs., Business Turnarounds, Business Workouts, Business debt workouts, Debt Workouts, SBA Loan Workouts, SBA debt forgiveness, debt forgiveness, the economy, by Don Todrin

We do hundreds of debt workouts for small business owners every year. One observation: most–make that almost all–are male-owned.

I have done the research and women are a driving force in new business start-ups. They are implementing more new business plans than men. Millions of small businesses are initiated and owned by women.

Here is a second observation: either they are infinitely better business leaders and experience little failure and, thus, do not require debt workout services, or they do not search the Internet for debt workout help, as I am getting very few inquiries from female small business owners. Almost none. Or, they simply do not want to call us.

Is this a form of prejudice? Female business owners do not want to ask male consultants to help them succeed? Is it possible that female business owners are uncomfortable asking men to help them work out their debt? They either want to do it themselves or ask other female professionals to support their debt workout issues? Could this be it? Is it possible that female business owners feel this would be demeaning, having to ask men for workout assistance? Do they not want to ask men to help bail them out of trouble?

I do not know the answer to these questions; however, I do know that just as many female business owners are confronting the same eroding economy that male business owners are. After all, the economy has been melting down universally; every business is having to deal with these issues. It is universal.

I fear these reasons are preventing women from asking us for help. Female-owned businesses are failing just as male-owned businesses are, as the issues are universal and not gender-based.

Unfortunately, I know of no female-owned workout companies capable of giving you the support you need. We are specialists and capable of removing debt from your business and reducing your personal guaranties to pennies on the dollar. You need to call us if you are in trouble. We care not what gender you may be, we only care about removing your debt so you can operate safely and remain in business. That’s all there is.

I have thought about hiring a powerful woman to deliver our message and may yet do that. However, first my plea to you: We can help, call us. We care about every small business owner facing the challenges of declining revenues with debt too large to service. We care about the huge losses you will experience. We care about your loss of home and assets. We care about the loss of jobs and the negative effect this will have on so many families if you go out of business.

Simply stated, we have a mission: to save America one business at a time… and female-owned businesses comprise a huge sector of our economy. So, where are you? Call us. We await the opportunity to support your success and emergence from this devastating economy. It can be done.

Call 413-584-2581. Norm will arrange a no-obligation teleconference for us to discuss your options.

We do not care if you are women. We do care about your family, your jobs and your business…very much. We are here to help.

About Don Todrin

Don Todrin is the CEO and Founder of Second Wind Consultants, Inc.. Don and his company specialize in SBA Loan Workouts, Offer in Compromise, business debt forgiveness and solving difficult business problems in general. Follow me on Twitter or become a fan of Second Wind Consultants on Facebook.

If you take cash from the till, you’ll pay later.

On January 23, 2010, in 941 payroll tax workout, Building Profitable Business Orgs., Business Turnarounds, Business Workouts, Employees, Sales and Marketing, the economy, by Don Todrin

I see this often: small business owners swiping cash out of the register or however it is received and held. Sometimes it’s just the lure of the green, an instinctive move that cannot be overcome, a need to have cash in your pocket. I understand. However, sometimes it is a plan, repeated every week removing large amounts or amounts that overtime become larger and larger as the pleasure of feeling rich is a great feeling for some small business owners, despite the reality that they are stealing their own cash from their own business.

Unfortunately, there is more harm than good that results out of such actions and it will come back to haunt you.

For one, it is impossible to do any cash management or cash flow projections as revenue no longer equals sales and, thus, planning is out the door as is budgeting or any form of accounting. This is bad as basically it means you are running the business cash flow without any guidelines or projections, without any way of knowing whether or not you are succeeding or what your numbers really are trying to tell you. There can’t be no controls over your business.

It sets a very bad example as your staff and employees will know you are using the cash register as a personal bank and that there are no controls; thus, it invites stealing and other wrong doing as why not, the boss does it and he will not be able to tell because he can no longer control his cash or revenue accounts.

But the worst is yet to come. When it comes the time to sell the business, try telling the buyer that the revenue is really a hundred thousand more but you take it out of the business in cash before it gets deposited.

It never works. You simply have a business that does a hundred thousand less in revenues and that devalues the sale price dramatically.

So great, you avoided some tax bite and lost a bundle when it comes time to sell.

Enough, it is a bad habit and never works out as expected. Change your ways, take whatever cash you need but properly account for it by withdrawing it appropriately after recording it as income. That’s what we need to be doing, not swiping it out of the cash drawer.

About Don Todrin

Don Todrin is the CEO and Founder of Second Wind Consultants, Inc.. Don and his company specialize in SBA Loan Workouts, Offer in Compromise, business debt forgiveness and solving difficult business problems in general. Follow me on Twitter or become a fan of Second Wind Consultants on Facebook.

Surviving the downturn, successfully emerging!

On January 21, 2010, in 941 payroll tax workout, Building Profitable Business Orgs., Business Turnarounds, Business Workouts, Business debt workouts, Debt Workouts, Employees, SBA Loan Workouts, SBA debt forgiveness, Sales and Marketing, Solving Difficult Business Problems, Solving Difficult Problems, debt forgiveness, the economy, by Don Todrin

It’s been over a year and we all understand the recession is here to stay for a long while. There is little any of us can do about this fact of business life.

However, we can make the appropriate business adjustments to take full advantage of the reduced but available business activity, so we can all prosper and emerge successful, despite the economy.

Here are the three basic requirements:

1. Downsize

2. Re-invent your business equation

3. Do your debt workouts

Downsizing is easy: cut employees from each department, reduce your employee base to balance your current production needs and reduced budgets. Do not believe you cannot survive this downsize requirement, or that each person is crucial and irreplaceable to your operation, the remaining employees will fill in, will increase their productivity and will make you more money for less outlay. The biggest mistake small business owners make is not cutting fast enough or deep enough.

Re-invent your business equation. This is tougher to describe, but you must review your process, your market, your marketing and reconsider any sort of change that may make sense to increase profits, and decrease expenses and overhead. Outsourcing, focusing on one section of the market, changing pricing, adjusting product line, or services, changing billing procedures, everything you do must be inspected and either made better or possibly eliminated, but major systemic changes designed to increase profit and decrease costs are timely.

One client called off opening a new store and instead added to his sales force. Another shut down all manufacturing, outsourced it and became a sales and marketing business. Another increased vertical integration, manufacturing and distributing his own product and stop selling other manufacturers’ product line. Internet marketing instead of traditional marketing and on it goes. Make the necessary changes you need to become immediately profitable.

Do your debt workout. This is also a crucial exercise. You must eliminate your excess debt your business is now supporting. This is critical for your long term survival. Failure to handle this will cost you your business in due time. Your revenues are down; your debt must come down also.

Implement these three strategies and you will survive and prosper from now on. Fail to implement these strategies and your business will soon fail also.

About Don Todrin

Don Todrin is the CEO and Founder of Second Wind Consultants, Inc.. Don and his company specialize in SBA Loan Workouts, Offer in Compromise, business debt forgiveness and solving difficult business problems in general. Follow me on Twitter or become a fan of Second Wind Consultants on Facebook.

There are three things that cannot be hidden: the sun, the moon and the truth – Confucius

On January 18, 2010, in 941 payroll tax workout, Building Profitable Business Orgs., Business Turnarounds, Business Workouts, Business debt workouts, Debt Workouts, Employees, SBA Loan Workouts, SBA Loans, SBA debt forgiveness, Sales and Marketing, Solving Difficult Business Problems, debt forgiveness, the economy, by Don Todrin

I say, this is the best business rule we can all get behind and follow.

Think about how much better our business world would be for all involved if we set this standard as the standard we conduct business.

Think of what we could all accomplish.

Some would argue that we all cannot agree on the same truth.

I would say that’s nonsense, there is only one truth, and it’s a matter of recognizing it when we see it, hear it and then live it.

The truth is: Business cannot be successfully run when overpowered by debt.

The truth is: We are all in this economic mess together and we will all have to pay a price for the correction. There is no free pass, no escape and the sooner the banks and financial institutions and our political leaders and corporate leaders recognize this truth the sooner we will be on the mend.

The truth is: If one business is living a lie we all suffer, the economy suffers. If many are living outside of the truth we will have deep issues.

We have deep issues. We are not living in the truth

Is it a little lofty, my dear readers? Maybe.

We need to mend our ways, we have gone astray. This is the path back. Honestly, it’s the truth. The pain will continue until we recognize this and act accordingly.

About Don Todrin

Don Todrin is the CEO and Founder of Second Wind Consultants, Inc.. Don and his company specialize in SBA Loan Workouts, Offer in Compromise, business debt forgiveness and solving difficult business problems in general. Follow me on Twitter or become a fan of Second Wind Consultants on Facebook.

Another word for a debt workout – a controlled train wreck!

On December 14, 2009, in 941 payroll tax workout, Business Turnarounds, Business Workouts, Business debt workouts, Debt Workouts, SBA Loan Workouts, SBA Loans, SBA debt forgiveness, debt forgiveness, by Don Todrin

One must be realistic when entering into a workout negotiation. It is not like any other negotiation you have ever done. First, please keep in mind your position is defenseless. You borrowed the money and now cannot pay it back. You are in breach with no place to go. Worse yet, your collateral is also worth far less then the debt owed and has declined since the loan was established.

The bank has its remedies, and its procedures; we have our strategies. However, if we look closely at what is going to happen, if we are involved early enough, it is possible for us to control the train wreck and keep us and you out of dangerous situations. An orderly presentation of financial information, followed by an Offer in Compromise to settle the personal guaranties; sounds very civilized and in most instances it is.

However also in many situations, the plan runs amok and danger mounts up. Workouts follow similar paths, but there are many opportunities for unplanned events, the landlord may shut you out, probably only for a day or a few hours but it could happen. Banks accounts get swept, it can happen even to payroll accounts, despite the fact that they are not supposed to touch payroll accounts. Law suits will be filed, it happens frequently. Foreclosure auctions, seldom if ever occurring but it is possible. Bank finds a purchaser of the assets and want you to sel to their buyer even if not as advantagious to you, for a higher price, it has happened. The bank uncovers assets the borrower did not disclose, it has happened. The list goes on.

In short, a workout is an organized train wreck, which we force to occur. A controlled wreck, so despite the best plans, the unexpected can occur. Then we clean it all up… adjust and move forward. Usually they go smoothly with few problems, but given the issues at hand there is ample opportunity for the unexpected but possible to happen. We understand these events and always have a way to contain the issues, reducing them to mere road bumps. But they can happen. Be ready.

The point is, anyone entering into a workout, needs to understand we are playing hard ball. Getting the banks to agree to accept pennies on the dollar is difficult at best. It requires a bit of magic, certainly a lot of skill and experience and are most always successful, despite the way it looks and sounds along the way.

So yes, we are saying jump off the cliff, and trust us we will catch you….. But what other choice do you have? And yes we always catch our clients before they hit ground.

Workouts are foreign, uncomfortable, dangerous, painful, challenging, difficult, procedures, however it is the nly way to survive strangling debt.

It’s upside down thinking and nothing you have ever done can prepare you. Trusting your workout specialist just like any good emergency ward surgeon. We stop the flow of blood and prevent death; when the patient wakes up he is better, ready to heal and start up again.

Trust us, jump, we will catch you, we always do, we know what we are doing.

About Don Todrin

Don Todrin is the CEO and Founder of Second Wind Consultants, Inc.. Don and his company specialize in SBA Loan Workouts, Offer in Compromise, business debt forgiveness and solving difficult business problems in general. Follow me on Twitter or become a fan of Second Wind Consultants on Facebook.

Managing your debt… it is really a waste of your time.

On December 11, 2009, in 941 payroll tax workout, Business Turnarounds, Business Workouts, Business debt workouts, Debt Workouts, Solving Difficult Problems, debt forgiveness, by Don Todrin

I see it all the time, small business owners, trapped in a down cycle, with debt eating up all their cash flow and all their time is spent managing the debt, juggling cash flow, talking to or avoiding the bank, their creditors, whomever they owe, being very busy and are they succeeding? Are you succeeding at managing your debt?

Great, a one way ticket to a long vacation, when the debt finally eats you up, and shuts you down.

It may seem like the responsible thing to do, it may feel as though you must do this to survive, but in all reality, this is a major misconception, a trap many fall into which will end up in disaster.

It’s simple, managing your debt is an allusion. What you need to be doing and the only plan that will work, the only way to really manage your debt is by managing growth and development, only revenue will manage your debt. Only debt reduction will work, either way, the major requirement is opposite managing your debt, it is managing your business, creating cash, reducing overhead, working out debt, but not managing it, Debt is the enemy. It must be eliminated by either additional revenue or a debt workout but NOT by managing it.

In fact, if all the time spent by small business owners managing their debt, was applied to building revenues, it is likely that real progress would be made.

The problem is the creditors are relentless, and demand your attention and time. They have perceived power so you spend your time talking to them instead of developing revenues or executing a plan to eliminate debt. The results are your debts are managed, whatever that really means, and your business is allowed to limp along on its own, mismanaged and not developing.

The answer to this is obvious. First, stop believing that managing your debt provides any real answers, it does not. In fact, all you’re really doing is babysitting your debt, massaging it, but not resolving it. Second, you must focus on building revenues that is a priority, and please consider hiring someone to handle your workouts and debt reduction, that works, and frees you to concentrate on your business where your expertise is and where the payback comes.

Stop kidding yourself, managing your debt is an excuse for wasting your time. It may feel as though you are performing important functions, being responsible and doing the right thing, but it is an illusion. You are only wasting precious time, getting nowhere.

Stop managing your debt; it is a waste of time. Start managing your business and hire a specialist who will work out your debt, reducing it to affordable and manageable obligations, and focus your time on growth and development. This works.

Call us, we can handle your debt workout requirements and let you focus on revenue building activity.

Call Norm at 413-584-2581, he will arrange a no obligation teleconference for us to discuss your options.

About Don Todrin

Don Todrin is the CEO and Founder of Second Wind Consultants, Inc.. Don and his company specialize in SBA Loan Workouts, Offer in Compromise, business debt forgiveness and solving difficult business problems in general. Follow me on Twitter or become a fan of Second Wind Consultants on Facebook.

Get back to running your business, doing what you do best. Leave the workout to pros.

On November 29, 2009, in 941 payroll tax workout, Business Turnarounds, Business Workouts, Business debt workouts, Debt Workouts, SBA Loan Workouts, debt forgiveness, the economy, by Don Todrin

Get back to running your business, doing what you do best. Leave the workout to pros.

One of the more serious side effects of being under cash flow duress from reduced revenues, are how these issues change your focus from running the business to fighting for survival.

Being forced to fight the battles every day, with notes being called, and threats of foreclosure looming from your bank, not taking home a check, so personal finances are in disarray, most of your time is being spent fighting this war.

Juggling cash flow, worrying about how to make payroll, aggressively collecting accounts receivable, worrying about how to convince vendors to ship you while you still owe for previous invoices and cannot afford to prepay or even pay COD. Late on rent, late on car payments and worrying about a repo, and on it goes. Soon you may be challenged with facing the IRS for failure to make 941 tax payments, or your landlord threatening eviction unless you come current.

I understand. It is a near impossible balancing act.

Two things can occur to change this situation immediately when you engage the professional services of a workout specialist:

First, our efforts and workout strategies remove these issues…completely, affordably.

Second, and most important this leaves you to focus on what you do best and what is most important and most necessary for your long term survival… managing your business, reinventing your business so it once again becomes profitable and successful.

I hear from so many of my clients, that they cannot focus on their business and when they go home they only worry about their situation, none of which will help to change their reality.

As critical to your emergence as is the workout of your debt, is the need for you to be able to get back to business, and with a balanced cash flow, having stripped off the debt and reduced your personal guaranties reinvent yourself, profitably and emerge successful again, under the new economic realities of the day.

Simply removing the war zone from your daily efforts is a huge enough change. Giving you hope and some peace that the issues will be resolved, is another huge uplift. Going home and announcing to your spouse that you have some help and there is light at the end of the tunnel, that you will survive and work this all out, is the best result imaginable and this occurs moments after you sign on.

You cannot do it all alone. You need special skills which most business owners do not posses, nor should you, as you have been focused on building a business not working out debt.

Get professional experienced workout help. Remove the issues from your responsibility, concentrate on your business. That is the recipe for successful emergence from this economic meltdown.

Peace of mind, refocus and professional assistance working out your issues while you rebuild your business. This works, little else does. Call us for a no obligation teleconference to evaluate your situation. Call Norm 413-584-2581, he will arrange.

About Don Todrin

Don Todrin is the CEO and Founder of Second Wind Consultants, Inc.. Don and his company specialize in SBA Loan Workouts, Offer in Compromise, business debt forgiveness and solving difficult business problems in general. Follow me on Twitter or become a fan of Second Wind Consultants on Facebook.

“One farm at a time”… saving small businesses and their owners from the financial meltdown.

On November 26, 2009, in 941 payroll tax workout, Business Workouts, Business debt workouts, Debt Workouts, SBA Loan Workouts, SBA debt forgiveness, debt forgiveness, the economy, by Don Todrin

It is a war! The casualties are very high….you need a plan. There are very few options. We have the way.

Unfortunately, the small business owners have been abandoned, left to defend themselves on their own, with no defense and the battle front is very bloody, many casualties, with no help in sight.

That is the sad plight we are in.

The economy is melting down, revenue are drastically cut, overhead creeps up daily, yet debt service on your loans remains the same, choking any chance for survival. After your businesses are destroyed, you then get to face the full force of your personal guaranties, further burying you and preventing any chance of rehabilitation.

There is a way to successfully navigate this bleak situation. Second Wind Consultants with thirty years of experience handling such issues, has been saving one small business at a time, stripping of the debt from the business so it may run free of debt, and then reducing the personal guaranty to pennies on the dollar.

The only small business bailout program there is, and its success is phenomenal.

“We are on a mission, to save as many small businesses as we can.” says Don Todrin President, and to spread the word and save more businesses, we have created a field force to deliver our message door to door.”

We have identified a number of exceptional business workout strategists, and have launched a small field force in New England to save as many as possible with personal service.

Scattered throughout New England we can now visit you personally and explain our program.

Call us, we will come to your rescue, now with a field force ready to protect and preserve your valuable business assets and give you the opportunity to survive and emerge successful again.

Call us, we will be there quickly. We are now staffed in Connecticut, New Hampshire, Maine, Massachusetts, and Rhode Island.

There are no other options. This is a war….we are your cavalry.

Call us for help 413-584-2581

About Don Todrin

Don Todrin is the CEO and Founder of Second Wind Consultants, Inc.. Don and his company specialize in SBA Loan Workouts, Offer in Compromise, business debt forgiveness and solving difficult business problems in general. Follow me on Twitter or become a fan of Second Wind Consultants on Facebook.

Let’s Talk Business: Successfully Navigating the Recession. The Book Is On the Way!

About Don Todrin

There is No “Wait and See.” There is No “Neutral.” If You Are Not Moving Forward, You Are Moving Backward.

About Don Todrin

Female Small Business Owners: Where Are You?

About Don Todrin

If you take cash from the till, you’ll pay later.

About Don Todrin

Surviving the downturn, successfully emerging!

About Don Todrin

There are three things that cannot be hidden: the sun, the moon and the truth – Confucius

About Don Todrin

Another word for a debt workout – a controlled train wreck!

About Don Todrin

Managing your debt… it is really a waste of your time.

About Don Todrin

Get back to running your business, doing what you do best. Leave the workout to pros.

About Don Todrin

“One farm at a time”… saving small businesses and their owners from the financial meltdown.

About Don Todrin

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