I was recently a guest on the podcast Tapped In Sales and Strategy for Beer Distributors, hosted by Bud Dunn and Mike Hall from VxP.
Bud, Mike and I talked about cash flow strategies and the benefits of financial training for beer wholesaler employees.
You can check out the podcast here, and learn more about the Beer Business Finance Association here.
Summary
In this episode of the Tapped In Sales podcast, Bud and Mike interview Kary Shumway, a financial guru for beer distributors.
Kary shares his journey in the beer business and how he became an expert in finance for the industry. He emphasizes the importance of financial literacy and training for all employees, from drivers to sales managers.
Kary also discusses the challenges that distributors face, such as understanding their numbers and managing costs.
He highlights the need to focus on cash flow and gross profit, and suggests creating a culture of collaboration and communication to break down silos within the organization.
Takeaways
- Financial literacy and training are crucial for all employees in the beer distribution industry.
- Understanding cash flow and gross profit is essential for managing costs and improving profitability.
- Creating a culture of collaboration and communication can break down silos within the organization.
- Focusing on the numbers and aligning incentives can drive positive change and improve financial performance.
Chapters
00:00 Introduction and Overview
01:32 Kary’s Journey in the Beer Business
03:24 Importance of Financial Literacy
07:36 Engaging with Beer Business Finance Association
10:30 Common Financial Challenges for Distributors
11:54 Key Financial Metrics to Track
17:35 Cost Management Strategies
23:35 Driving Profitability through Gross Profit Management
27:28 Building a Positive Sales Culture and Breaking Down Silos
35:39 Contacting Kary Shumway
36:37 Conclusion
