Lessons from Small Business Owners

Real Lessons for Small Business Running a business by the numbers

Speaker Series

Scott Juetten, CEO, Small Business AdvisorFASTSIGNS, SJ ConsultingBellevue, WA

Introducing…

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

Pains of Being a Small Business

• At the mercy of ….• We’re specialists in our field, not in finance

Working IN (vs. ON) the business

The E Myth (Gerber)

What’s the Temperature of Your Business Today?

Who’s Flying the Plane?….Are you ready to land at any time?

“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.

Finance is essential

AccountingLooks back

Because we have to comply

FinanceLooks forward

Because we want to plan

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.

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)

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?

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

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!

Thank you!

I can be reached at Scott.Juetten@Gmail.com

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

Our Customers

Thank You!