lessons from small business owners
DESCRIPTION
Real Lessons for Small Business: Running a Business by the Numbers Join serial entrepreneur and small business owner and advisor, Scott Juetten to hear a perspective on how he manages by the numbers and what a few minutes a month can do for a business.TRANSCRIPT
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Real Lessons for Small Business Running a business by the numbers
Speaker Series
Scott Juetten, CEO, Small Business AdvisorFASTSIGNS, SJ ConsultingBellevue, WA
Introducing…
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What are We in Business For?
Job Pass it along to family Build and Sell Cash Cow Inspired to be your own boss Hobby Next Apple Combination of the above
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Pains of Being a Small Business
• At the mercy of ….• We’re specialists in our field, not in finance
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Working IN (vs. ON) the business
The E Myth (Gerber)
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What’s the Temperature of Your Business Today?
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Who’s Flying the Plane?….Are you ready to land at any time?
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“What gets measured gets done.”
• What are your key performance indicators?• Figure out what can be measured and then
delegated so you don’t have to be the CEO of every metric in your business
• Imagine what your business could look like if you improved it just 1% per week or even better 1% every day.
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Finance is essential
AccountingLooks back
Because we have to comply
FinanceLooks forward
Because we want to plan
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Other KPI Opportunities
• Financial– Budget to Actual– GP,COGS– By lines of business- what’s your most profitable?– Revenue per employee– Production Rate Per Hour
• Customer Satisfaction• All of these help a business owner get a temperature read
on the business.
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Share to Execute Sharing with the team Manage by the
agreed upon metric rather than to a personality.
Accountability: Who owns which metric?
Make an employee CEO of something.
They need to own something because you can’t own it all.
26% Revenue growth
(sales)
$23k Avg. cost/FTE
per month
(staff)
$1,700 Avg. marketing spend/ month
(marketing)
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Your Advisors Need to be part of your vision dashboard too.• Relationship with:
– Bookkeeper– CPA– Advisors/Coach– Key Staff– Trade Associations
how am I doing?
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What Next?
• I Started Small– Picked 3 most concerning areas– Build a solid budget you can plan
from– Monitor your results over a
defined time period.– Interpret the business intelligence– Assign & Adjust
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Share the Results
• You can’t react alone• Make the results visual to everyone• Share in the winnings• Reset expectations• Re-measure
– “What gets measured gets done.”
• Stay the course!
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What’s happening
with your business while you’re busy
working in it?
Practice Proactive Management and in 30 minutes a month you’d know
“In a few minutes each month, we get to see a clear picture of our finances and can manage
our goals”
$69/mo + setup
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Our Customers
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Thank You!