Profit Director

shutterstock_163229354

Cash is King. Profit is Queen.℠

 

One of the major reasons for business failure is the owner’s lack of real understanding of his/her true financial position.  Owners may see their financial statements each month and if they have a positive cash flow then they think all is good without knowing what surprises may be hidden within.

Feel More In Control  

Some owners think they’re doing okay, but they’d really like to be sure.   Other owners look at their financial information as just numbers on a page and as long as they aren’t negative they don’t worry.  And most have no financial experience and are very lost and confused when it comes to understanding the financial part of their business.

All business owners can start using their financial information as a management tool that helps them guide their business decisions.  They can know they are in complete control and use their financials to help make better decisions.  

Without becoming a CPA or spending hours struggling with the financials, they can learn how to interpret and use the information as a tool to better understand the impacts of:

  • hiring a new employee
  • buying a new piece of equipment
  • adding a new product line or service
  • needing to increase their prices
  • where they need to reduce their expenses

They will also be better able to:

  • forecast how the business is growing
  • prepare easier for any seasonal cash flow impacts
  • look through a crystal clear set of lens in all the critical financial areas of their business
“My business is definitely more valuable now. I now know what to do to continue building my business into an asset that serves me instead of me serving the asset. With his experience as a CPA, business broker, business owner and business coach, Mark has strong knowledge and expertise in what it takes to build real business value.”

—Jon L., Franchise Business Owner, Ontario, Canada

“The fact that we were able to sell one of our territories for nearly five times our original investment is a credit to the principles and strategies that we learned, refined, and implemented as a result of your effective program.”

—Dan M., Franchise Business Owner, British Columbia, Canada

The last thing we’d recommend is for business owners to become CPA’s or bookkeepers.   However, by going through the Profit Director Program they will lose their frustration of not understanding what the numbers are really telling them and how understanding the financials can tell them where they really are in their business.   This means peace of mind, a sense of control, and a more well run business.


How Does Profit Director Help?

With Profit Director, owners are educated and trained regarding what they need to learn and do…so that they can have their finger on the financial pulse of their businesses at all times.

Profit Director can help owners better manage the financial dimension of their operation even if they already have an accounting system in place. This is a custom module that teaches business owners how to:

  • Read and interpret the three main financial reports i.e., Balance Sheet, Profit & Loss Statement (The Queen) and Statement of Cash Flows (The King)
  • Control and project cash flows
  • Reconcile accounts at the end of each period and generate financial reports and checklists that ensure the on-going accuracy of financial information
  • Create monthly budgets and prepare reports that compare budgeted targets with actual results

An example of what is learned in the Profit Director Program:

Regarding budgets; these financial plans should drive the financial decisions of business owners.  We help them understand that adhering to a budget planning process enables them to determine the appropriate time to expand or hire which in turn can drive revenue for the entire business.  The budget process also enables owners to monitor their performance and provide an objective basis upon which they can evaluate their financial performance. They will no longer have to wonder if what they are doing is working. They will be able to interpret the information and know if all is on track or if they need to make modifications in some areas.

Learn from a CPA Who Understands Business

Profit Director is taught by Mark Eldridge, CPA, who is uniquely qualified to help business owners build a financial framework to better understand and manage their businesses.  Not only is Mark a CPA, but he has over three decades of experience in all aspects of business operations. He is a business valuations expert and can help owners get more money from their business while they own it and more money for their business if and when they sell it. No other professional trainer/coach has the combined expertise and ability within the business coaching industry.

Tailored to Your Specific Needs

In tailoring the module to fit your specific needs, Mark works directly with you to create a custom program for your business.  This is not an “off-the shelf” financial “seminar” which often provides too much in-depth training.  Business owners do NOT need, nor do we want them, to be accountants.  They DO NEED the skills, however, to generate credible financial information that they can review, really understand and use to better manage their businesses.

In addition, Profit Director can be incorporated as part of the Think. Focus. Act.® Maximum Performance Process.  Mark ensures that business owners  continue to implement and use the financial tools they’ve been given.  As a third party, we can be more objective in our assessments of their strengths and weaknesses in taking the mystery out of financials and helping them learn how to make the financials work for them.  Think of it this way: sometimes it’s difficult to be tough on members of your own family. We’re not a member.  We’re outsiders so it’s easier for us to be both teacher and disciplinarian.

Keeping Their Fingers on the Pulse

Ultimately, there are two financial areas business owners need their fingers on the pulse at all times, not just at the end of the year or a few days during the year:

  1. Are they truly profitable?
  2. What’s the status of, and where is, the cash?

Often, the two are thought synonymous. They are not.  Many people don’t understand the difference between profitability and cash flow.  For example, they might think business is solid but have no cash.  Profitability (the Queen) and Cash Flow (the King) are very different and it’s imperative an owner has control and an understanding of both.

“My revenue doubled from year one to year two, and by the end of year three we will reach approximately half a million dollars in revenue.”

—Robin R., Franchise Business Owner, California

By completing the Profit Director Program business owners can start using their financial information as intended, to help make better business decisions.   They can rest better because they will know exactly where they are and not just think they are doing okay.

LinkedIn Logo 1
CLICK HERE and send a LinkedIn connection request to connect with Mark Eldridge, Founder and CEO of Think. Focus. Act.

For profitable expansion of your business and career, contact Think. Focus. Act. at 402-881-8873.

 

For additional testimonials please click here.

Comments are closed