The Company
Salvus, in Latin, means safe. That is what my company was founded on – to provide safe harbor to companies that are in financial trouble or are heading for financial trouble. This is why I use the lighthouse as my logo.
In the early 90’s, some of the business owners and associated professionals I was assisting with financial management issues through Sheehan Financial Advisors (a sister company) referred me to potential clients, many times friends or relatives. Many of these companies were in deep financial trouble. As I successfully turned companies around, I created this new enterprise to devote solely to the needs of troubled, and sometimes startup, companies.
I use straightforward approaches to those who inquire of my services. First and foremost, is there value to the operation, or can value be reestablished? Second, are there sufficient financial and managerial resources to accomplish a turnaround? If the operation has limited or no value and my assistance does not significantly return value to the company and its stakeholders, then I never get to the second phase since such a tactic will only cost the business owner capital that is scarce or nonexistent, but more importantly proceeding gives the owner and the stakeholders hope to a hopeless situation. And I risk my reputation with such stakeholders.
As a former banker and a controller and CFO to a couple of troubled enterprises, I know not only the technical know-how of financial analysis and turnaround planning, but I excel in understanding the financial risk involved and how to quantify and measure it. Best yet, I have been able to develop methods of negotiations to bring major stakeholders to give the business time – the enemy of any creditor – so a recovery plan can be formulated and implemented. A recovery plan that is measurable and dynamic (always in motion) and usually longer and more painful than any business owner had thought.
Using this knowledge and the straightforward approach mentioned, I find bankers trust me and my work and stakeholders work with me to recover the value in their asset. It is a fragile relationship among all and one contrary decision by management or a stakeholder can destroy a plan and ultimately a company.
Am I always right? – no since finance and risk are an art and not a science, but so far so good. Visit my success story page for more.
Tom Sheehan
President