WHEN: Wednesday August 13th, 2014
WHERE: Tacoma Goodwill Boardroom
We all want to build a sustainable business that provides a return on our (or our owners’ investment). So, how much profit does it take to produce the real returns that you not only desire, but also require? The first step in the process is to answer the question: what is your breakeven sales annually, monthly and even daily? We will all first go through our Profit and Loss Statements to determine how our expenses “behave.” We will separate out our variable and fixed costs and then calculate the answer to the breakeven question. With this new structure we will be able to have a better understanding of which costs need to be focused on to improve the bottom line.
But nobody wants to just break even! We will also now be in position to project the future and determine useful strategies.
LUNCH
All who are attending the morning roundtable session are invited to join us for lunch. Please let Lauren Owen or Michele Bosworth know if you are not able to attend lunch.
MEMBERS
Members arrive at 7:30am for breakfast and check-in.
MEMBER CANDIDATES
Member Candidates are invited to join us for the roundtable and lunch from 9:00am-12:00pm with lunch immediately following from 12:00 noon to 1:00pm. Please arrive by 8:50am and wait in the lobby. Lauren Owen will come get you before the workshop begins at 9:00am.
EMPLOYEE GUESTS:
Employee Guests are invited to attend the roundtable from from 9:00am - 12:00pm. Please arrive by 8:50am and wait in the lobby. Lauren Owen will come get you before the workshop begins at 9:00am.
HOST:
Renee Ries of Fairchild Record Search
WHERE WE WILL MEET:
Tacoma Goodwill Boardroom; 714 S 27th Street, Tacoma, WA 98409
The Boardroom is located on the 4th floor.
Members arriving at 7:30am - enter on the S 27th Avenue Street entrance. It's the "main" entrance that is actually on the 3rd floor. There is a parking lot in front and a parking lot across the street. Jennifer will be looking out to let you into the building and will take you up to the elevator to the 4th floor.
Guest arriving at 8:45am - enter at any entrance and tell the people at the front desk that you are going up to the 4th floor.
Guest arriving at 8:45am - enter at any entrance and tell the people at the front desk that you are going up to the 4th floor.
TITLE OF ROUNDTABLE:
How to Use Your Numbers to Make Better Complex Financial Decisions.
AGENDA:
Click here to view the Agenda
QUESTIONS THE CEO SHOULD BE ASKING:
- How much profit do I need to reinvest in my company?
- How much profit do I need to pay back additional long term debt?
- How much profit do I need form y bonus and/or retirement plans?
- If I hire additional staff what will I need insoles to cover their costs and make more profit?
- If I add on to my building (take on more space or open a new location) what will I need in increased sales to make that a good investment?
TAKEAWAYS
- What does my company's cost structure really look like.
- How can I use this knowledge to make better decisions for the future around issues such as: pricing, expense control and investments in projects, equipment and people.
- Learn how targeting a specific profit to determine your sales goals.
PREPARATION: 30 Day Commitment - August 2014 CEO Roundtable
For our August Excell CEO Roundtable, please select an investment (project/strategies/initiative) that you are currently considering and use your
Break Even Plus Spreadsheet to answer the following questions.
Be prepared to
present the results to the group during the Roundtable. Note: you are not required
to use PowerPoint!
- Of your top three investments (projects/strategies/initiatives) you are considering over the next 18 months, select the most important one that will have the quickest and highest positive financial impact. What is it?
- What will it cost? Over what time period?
- What return on investment would you like from this investment?
- What sales will you need to make this happen and over what time period?
- Who will be responsible to get this done?
- How will you monitor and measure the progress of the project/strategy?
- What feedback process will you have set up to be sure everyone is working toward the financial goal?
PRESENTER: STEVE ABERCROMBIE
PRESENTER: STEVE ABERCROMBIE
Steve brings passion and personality to company financial strategies. His life experiences as a banker, financial educator and business owner have shown him that having financial knowledge of your business model is in many cases the absolute key to success. His clients all say that Steve excels at taking the mystery out of the numbers with his common-sense approach and always-compassionate personal style.
He has a talent for rallying the troops behind improvement initiatives by organizing, understanding and appropriately communicating the financial story of the business to the management team and key staff. Then he integrates this connection to financial success with ongoing structure and support around company goals and strategic steps. With key players aligned and focused, everybody accomplishes more.
Steve has helped many clients prepare their businesses for the financial scrutiny of lenders and investors when financial restructuring or expansion is imminent. He understands the language of lending from his years in banking, where he has held roles from branch manager and lender to bank President and CEO. As President and principal of a leading financial training company, he mastered business expansion from the other side of the desk – with the perspective of owner and rain maker. He gained notoriety as a sought-after convention speaker for graduate schools of banking, corporations and associations throughout the US, Australia and England.
Steve’s clients include Choice Hotels, ProSource Floor Coverings, Graduate School of Banking of the South and Bright Star Franchising,
“I have had the good fortune to work with Steve Abercrombie at both ProSource and BrightStar. Both times, he provided these companies with top-shelf financial literacy training for our franchisees. I have found Steve to be not only well versed in financial management, but able to easily convey concepts to franchisees. His breadth of knowledge and ability to make financial concepts "real world" for franchisees is one of the things I most appreciate about Steve.”
“Steve is exceptional at taking complex financial information and terms, and making it easy for people understand and use. Steve is one of the best professional speakers I've ever heard. Interesting, captivating and helps the audience truly understand and apply what he is talking about.”
