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Starting Over When Your Business Fails

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Guest Opportunity: John Paul Mendocha — Turnaround Specialist, Serial Entrepreneur and Author of “Remote Work for a Better World” & “Most Businesses Fail in the First 5 Minutes: It Just Takes Them 3 to 5 Years to Realize It”

The COVID-19 pandemic has forced businesses to rethink their marketing plans, both now and into the future. The current pandemic has been a threat to the entire global economy and without a doubt; businesses took the biggest hit of all.

While several brands already declared bankruptcy in the wake of eroding resources and dwindling assets, there are still many who would follow the same suit, provided the financial activities do not start the earliest. The post-lockdown era will see brands competing frantically for attention and eventually, survival and growth will depend on the strategies, proactive approaches, and certainly capital infusion. Where do they start? Do they all need a Turnaround?

  • What are the best ways to approach a turnaround post COVID-19?
  • Is reevaluating your brand the best strategy to take?
  • Is using Fear as a motivator a proper way to build a presence?
  • Final say: Shutdown or Turnaround? —Which way makes more sense?

John Paul Mendocha uses his expertise from his new book, “Remote Work for a Better World,” to share his tips on the best approach in the post COVID-19 era.

Meet John Paul Mendocha:

John spent 4 years in Las Vegas learning how to win and discovering how people really are—especially about money. His experiences in remote work for 33 years afforded him the opportunity to be a pioneer in achieving results through technology. Here are some highlights…..

  • Presented to Top Companies such as — Microsoft, Apple, Adobe, Dreamworks, and Compaq
  • SpeedStart Monday TM- Weekly Teleseminar and Webinar – 820 episodes and counting
  • Over 38 years coaching and consulting
  • Real Estate & Finance businesses – Valley of Fire Story
  • Professional Gambler and Speaker
  • Pitched ideas to 2 Billionaires
  • Co-Host of Position to Win Podcast (in Apple Podcasts, Google Play and Spotify)
  • Appeared as a special guest on “The Bachelor in Paradise”
  • 27 years and counting -> Turning a Loss into a Gain

For the last 30 years, John has helped CEOs and production teams win deals and close more business. Technology companies with a complex sales process are his specialty, but he deals with and helps all kinds of businesses. His analytical approach and intricate formula for success is a power within itself!

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Business Optimism Higher Now than before the Pandemic

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OPTIMISM AMONG SMALL AND MEDIUM-SIZED BUSINESSES HIGHER NOW THAN BEFORE THE COVID-19 PANDEMIC BEGAN, SURVEY FINDS

KARA HOOGENSEN, Senior Vice President, Principal Financial Group

BACKGROUND:

The Covid-19 pandemic has had a profound impact on our way of life, especially for business owners who had to shut their doors, lay off or furlough employees or even face bankruptcy. But according to the Principal Financial Well-Being Index(SM) , an annual nation-wide survey that examines the financial well-being of American workers and business employers, optimism among small to mid-size businesses is on the rise.

In November 2020, only 39% of employers felt positive about their business prospects. That is in stark contrast to this most recent survey, with 57% of respondents saying they feel confident about the next 12 months. Additional findings include:

  • 65% of respondents expect to rebound from the economic impact of Covid-19 within the year
  • 77% of respondents are comfortable with their cash flow
  • Nearly 6 in 10 (59%) of leaders say the accelerated vaccine rollout would improve business
  • 41% of businesses will not mandate that employees get the vaccine, while 59% are either unsure or will require certain employees to be vaccinated

On June 8, Kara Hoogensen will be available for interviews. She will tell your listeners the complete results from this new national survey, how Covid-19 impacted the way businesses operate and which pandemic workplace changes may become “the new normal” in the future.

More About Kara Hoogensen:

Kara Hoogensen is a senior vice president with Principal Financial Group®, in charge of Specialty Benefits for U.S. Insurance Solutions (USIS). Hoogensen joined Principal in 1996 and held roles in pension underwriting and consulting until 2000. After a year with Merck & Co., Inc. as a professional representative, she re-joined Principal in 2001 as a business development consultant and then held multiple strategy positions before being named director and then managing director for Defined Contribution Investment Only (DCIO). She was promoted to chairman, president, and CEO of Principal Bank and Principal Trust Company in 2014 and became president and CEO of Principal Securities, Inc. in 2015. Hoogensen assumed her role of vice president of Group Benefits in USIS in August 2017.  Hoogensen received her bachelor’s degree from Central College. She earned her Certified Employee Benefits Specialist (CEBS) designation from the International Foundation of Employee Benefits and Certified Investment Management Analyst (CIMA®) designation.

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BGE

Ep. 1/2/2022 – BGE presents-KARA HOOGENSEN, Senior Vice President, Principal Financial Group

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More About Kara Hoogensen:

Kara Hoogensen is a senior vice president with Principal Financial Group®, in charge of Specialty Benefits for U.S. Insurance Solutions (USIS). Hoogensen joined Principal in 1996 and held roles in pension underwriting and consulting until 2000. After a year with Merck & Co., Inc. as a professional representative, she re-joined Principal in 2001 as a business development consultant and then held multiple strategy positions before being named director and then managing director for Defined Contribution Investment Only (DCIO). She was promoted to chairman, president, and CEO of Principal Bank and Principal Trust Company in 2014 and became president and CEO of Principal Securities, Inc. in 2015. Hoogensen assumed her role of vice president of Group Benefits in USIS in August 2017. Hoogensen received her bachelor’s degree from Central College. She earned her Certified Employee Benefits Specialist (CEBS) designation from the International Foundation of Employee Benefits and Certified Investment Management Analyst (CIMA®) designation.

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Ep. 12/26/2021 – BGE presents-Todd Lindsey, is Cofounder & COO of A10 Capital, an SBA-approved PPP Lender.

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Todd Lindsey, is Cofounder & COO of A10 Capital, an SBA-approved PPP Lender.

Extend and Target PPP to Achieve the Mission of Supporting All of America’s Small Businesses

Congress created the Paycheck Protection Program to help small businesses, their employees and communities survive the COVID-19 pandemic. In many ways PPP has succeeded, especially for the largest small businesses. But PPP has failed our smallest small businesses, including minority-, women- and veteran-owned businesses.

To ensure that PPP helps the smallest businesses Congress should refine and extend the program so continuing assistance flows only to businesses that have been left out.

● Cap loans at $50,000
● Limit borrowers to companies with fewer than 10 employees
● Replenish the fund with $75 billion and extend PPP for six months (November 30)

This simple, inexpensive extension would help millions of sole proprietors and microbusinesses – especially rural, minority-, women- and veteran-owned businesses that were effectively excluded from the first ten months of PPP (April 2020 – February 2021).

Until February 2021 PPP Favored the Largest Small Businesses. Due to the original rules about borrower criteria and lender fees, the largest small businesses (like chain restaurants, hotels, law and accounting firms) with pre-existing banking relationships got huge loans that were the most profitable to lenders. To help smaller businesses, in December 2020 SBA increased fees for loans under $50,000, but simultaneously authorized second loans to previous (larger) borrowers, which remained more profitable to lenders so still the smallest businesses were ignored.

The smallest businesses did not break through until February 2021, when SBA mandated a 14-day exclusive borrowing period for businesses with fewer than 20 employees. Suddenly there was a huge new wave of applicants seeking funds and PPP was popular again – not because the need for funds was new but because the door was now open for a very large class of smaller, less sophisticated borrowers. Now that door has been shut because PPP is running out of money. The extended new applicant deadline was May 31, but SBA thinks funding will not last past applicants submitted as of May 4.

FIND HIS WEBSITE HERE:

FIND HIM ON TWITTER HERE:

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