by admin | Nov 12, 2016 | Financial Training, Guides, Guides, Newsletters, Newsletters, Profitability, Resources, Resources
I am always surprised when I talk to our banker and realize how much he knows about business. Not just banking and finance, but actual business. He asks great questions – the kind of questions that make me think about how we are running our organization –...
by admin | Aug 16, 2016 | Financial Training, Guides, Guides, Newsletters, Newsletters, Profitability, Resources, Resources
Fred Flintstone said that every buck is your friend, and the more bucks you got, the more friends you got. Fred was not a rich man, but he understood the concept of financial literacy. Bedrock style. We are all taught to read at a young age. We start with letters, and...
by admin | Jul 24, 2016 | Financial Training, Guides, Guides, Newsletters, Newsletters, Profitability, Resources, Resources
Your balance sheet is screaming. Are you listening? The income statement gets a lot of love and attention. Sales are reviewed daily, and expenses are reviewed at least every month. How often are you reviewing your balance sheet accounts? Assets, liabilities and equity...
by admin | Jul 13, 2016 | Distributor Operations, Financial Training, Guides, Guides, Guides, Newsletters, Newsletters, Newsletters, Profitability
Often, I’m asked the question ‘what is the industry average’ for certain business metrics, such as inventory days on hand or out of stocks as a percentage of sales. The answer is that it doesn’t really matter. Most industry benchmarks or averages are a watered down...
by admin | Jul 1, 2016 | Financial Training, Guides, Guides, Newsletters, Newsletters, Profitability, Resources, Resources
Everyone loves cash, but few distributors focus specifically on improving cash flow. The focus is on sales growth first, and everything else second. A distant second. Nothing wrong with sales growth, it’s critical to our success and sustained viability. However,...
by admin | Jun 30, 2016 | Financial Training, Guides, Guides, Newsletters, Newsletters, Profitability, Resources, Resources
In the late 1800s Wallace Wattles wrote a book called The Science of Getting Rich. Wattles lays out a system to follow to achieve wealth by doing things in a certain way. In a nutshell, it presents a blueprint that anyone can follow to become rich. While the language...
