by admin | Apr 20, 2017 | Financial Training, Guides, Guides, Newsletters, Newsletters, Profitability, Resources
Every number on your income statement is important, but few are as critical as gross profit. Lovely, lovely gross profit. The sales line measures how much product we sell to the retailer, but gross profit measures how much of the sale distributors get to keep to cover...
by admin | Apr 20, 2017 | Expense Reduction, Financial Training, Guides, Guides, Guides, Newsletters, Newsletters, Newsletters, Profitability, Resources, Resources, Resources
One of the problems with financial reporting is that the information is out of date as soon as you get it. It’s like delivering out of code beer to an account; the numbers are stale. The faster you can produce your financial statements, the faster you can read them...
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...
