130 episodes

Winning Momentum is for business leaders, entrepreneurs, owner managers, related professionals and students of business. It is about improved business performance, leadership and crisis management. Turning negative momentum into positive momentum that, in turn, renews energy and passion, attracts resources, both human and financial, and relieves the destructive personal and family pressures that come with a struggling business. Winning Momentum content consists of three parts: 1. Leadership Skills: Because troubled businesses need leadership to change. 2. Mindset Development: Because troubled businesses are always limited by the personal habits and mental filters of its leaders. 3. Technical Skills: Because running out of money during a turnaround is not an option.

The Winning Momentum Podcast with Scott Sinclair Scott Sinclair

    • Business
    • 5.0 • 3 Ratings

Winning Momentum is for business leaders, entrepreneurs, owner managers, related professionals and students of business. It is about improved business performance, leadership and crisis management. Turning negative momentum into positive momentum that, in turn, renews energy and passion, attracts resources, both human and financial, and relieves the destructive personal and family pressures that come with a struggling business. Winning Momentum content consists of three parts: 1. Leadership Skills: Because troubled businesses need leadership to change. 2. Mindset Development: Because troubled businesses are always limited by the personal habits and mental filters of its leaders. 3. Technical Skills: Because running out of money during a turnaround is not an option.

    Shareholder Loans are Loans

    Shareholder Loans are Loans

    In this Episode we discuss the power of debt and the related importance of treating shareholder loans as loans.

    Owner Managers are often required to advance personal funds to their business when available capital, including bank financing, retained earnings and shareholders’ equity, is not sufficient to meet working capital demands.  The advances can be in various forms including direct transfers, reduced pay, or charging business expenses to a personal credit card, and are often done urgently and as a practical matter – the business needs cash.  

    It is typical for Owner Managers to simultaneously fill many roles in a corporation, all with unique rights and obligations.  Examples include: Common Shareholder (majority or minority), Preferred Shareholder, Officer, Director, Employee and, when shareholder advances are made, Lender. 

    But, with the day to day pressures of running a business, the different rights and obligations of each role are often ignored.  As an Employee, the Owner Manager is paid last; as a Director, the Owner Manager is not compensated at all; as a Lender, the loans are not documented, not secured and repayments are not scheduled.

    Learn more at https://www.sinclairrange.com

    Follow on Twitter @MScott_Sinclair

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    • 38 min
    Turnarounds Start By Accepting The Need to Change

    Turnarounds Start By Accepting The Need to Change

    Turnarounds can begin only after management of the business accepts that there is a problem with both the business and their leadership.  That acceptance does not come easy.

    Crisis leadership with the CEO of Hilton Hotels.  The crisis management playbook created by Hilton aligns very well with our content.  Let's review.

    Goodbye to Martinis With Scott.  It was a good run!   Welcome, the Winning Momentum Podcast with Scott Sinclair

    Learn more at https://www.sinclairrange.com

    Follow on Twitter @MScott_Sinclair

    Follow on LinkedIn 
    https://www.linkedin.com/in/scott-sinclair-7b09681b/

    Listen on iTunes 
    https://podcasts.apple.com/us/podcast/the-winning-momentum-podcast-with-scott-sinclair/id1458646358?uo=4

    Listen on Spotify 

    Listen on Amazon
    https://music.amazon.com/podcasts/2e65e920-5273-49ef-b1bf-94bc5ca73bbd/the-winning-momentum-podcast-with-scott-sinclair

    • 37 min
    New Year, New Start - SMART Goals and the DARE System

    New Year, New Start - SMART Goals and the DARE System

    SMART Goals are great for goal setting in stable businesses.  Smart Goals are Specific, Measurable, Achievable, Relevant, Time - bound.

    For high growth and turnarounds, try my DARE planning.  Dream, Adjust, Reward, Evolve.  You will get better results.

    • 33 min
    What's the Deal With Deals

    What's the Deal With Deals

    From a noisy balcony on Miami Beach.

    Learn more at https://www.sinclairrange.com

    Follow on Twitter @MartinisWScott

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    Listen on iTunes 
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    Listen on Spotify https://open.spotify.com/show/28Ynal2p80yY8r1n1WLpqn

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    • 14 min
    Working With Lenders In Tough Times

    Working With Lenders In Tough Times

    A replay of Episode 15 - Managing Your Banking Relationship, with some updated context and 3 tips to immediately improve your business.

    If you are facing a turnaround or restructuring, you need to actively manage your banking relationship and do everything possible to gain the support of this critical stakeholder.  

    From the bank’s perspective, the lending relationship starts with sales and marketing and, after the loan is made, moves to maintenance and observation. If covenants are violated, an early warning system for financial trouble, and not remedied, your loan may be moved to a special accounts group for administration and collection.  

    While every file is different, the approach of the special accounts group will vary from institution to institution.  Some banks may be aggressive and seek to immediately collect as much as possible.  Others may be open to support a turnaround or restructuring plan to enhance the bank’s possible recoveries in the future, with the added benefit of saving your business and jobs.

    In every troubled situation, the borrower requires an accommodation from the lender.  But the lender is focused on their recovery (collection), which may have nothing to do with extending an accommodation to the borrower.  The bottom line is that, for the bank, it always boils down to deciding whether to support the borrower and its turnaround plan, or not.

    Therefore, it is up to you to provide as much ammunition to the special accounts managers as possible to give them a reason to support you.

    Here are some tips:

    - Admit you’re in trouble:  If possible, approach the lender proactively before they conclude on their own that there is a covenant violation.  Come prepared with a plan to fix the problem and be forthcoming and honest with inevitable negatives throughout the process.

    - Have a plan:  Build a turnaround plan that is optimistic enough for the bank to support but also realistic.  The plan must include a limited number of key performance metrics (not revenue) that drive your business and that can be used to quickly monitor your performance.

    -  Stop the bleeding:  Stop losing cash.  Now.  Right now.  Do everything possible to scale back and not make the bank’s secured recovery position worse than it already is.  

     - Get a turnaround team:  Your current management team is probably not suited for the battle.  You need experienced turnaround professionals, like a CRO, and legal counsel experienced at dealing with special accounts groups and insolvency matters.

     - Watch your attitude:   Know your situation and the personalities involved.  Bankers are human beings with egos like all of us and they have gone through this process many, many times.  You haven’t.  

    - Be committed:  Cancel vacations.  Cancel golf and boondoggles.  Deliver on plans, on time.  Prove that you are taking this seriously. 

    For more tips and discussions, check out Episode 15 of Martinis With Scott with David Cohen, national leader of Gowling WLG’s Financial Institutions & Services Group in Canada and past global chair (2017) and past global president (2016) of the Turnaround Management Association.

    Learn more at https://www.sinclairrange.com

    Follow on Twitter @MartinisWScott

    Follow on LinkedIn 
    https://www.linkedin.com/in/scott-sinclair-7b09681b/

    Listen on iTunes 
    https://podcasts.apple.com/ca/podcast/martinis-with-scott/id1458646358

    Listen on Spotify https://open.spotify.com/show/28Ynal2p80yY8r1n1WLpqn

    Listen on Amazon
    https://music.amazon.com/podcasts/2e65e920-5273-49ef-b1bf-94bc5ca73bbd/Martinis-with-Scott

    • 1 hr 8 min
    A 3 Point Plan To Immediately Fix Your Business

    A 3 Point Plan To Immediately Fix Your Business

    In this Episode we have a summary of some of the Martinis With Scott content, boiled down to a 3 point plan to start doing better right now.

    1. Accept the need to change
    2. Tools of the Trade
    3.  Winning Momentum

    Learn more at https://www.sinclairrange.com

    Follow on Twitter @MartinisWScott

    Follow on LinkedIn 
    https://www.linkedin.com/in/scott-sinclair-7b09681b/

    Listen on iTunes 
    https://podcasts.apple.com/ca/podcast/martinis-with-scott/id1458646358

    Listen on Spotify https://open.spotify.com/show/28Ynal2p80yY8r1n1WLpqn

    Listen on Amazon
    https://music.amazon.com/podcasts/2e65e920-5273-49ef-b1bf-94bc5ca73bbd/Martinis-with-Scott

    • 45 min

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