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.
Text of Lessons from Small Business Owners
1. Speaker SeriesIntroducing Real Lessons for Small Business Running a business by the numbers Scott Juetten, CEO, Small Business Advisor FASTSIGNS, SJ Consulting Bellevue, WA
2. 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
3. Pains of Being a SmallBusiness At the mercy of . Were specialists in our field, not in finance
4. Working IN (vs. ON) the business The E Myth (Gerber)
5. Whats the Temperature ofYour Business Today?
6. Whos Flying the Plane?.Are you ready to land at anytime?
7. What gets measured gets done. What are your key performance indicators? Figure out what can be measured and then delegated so you dont 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.
8. Finance is essential Accounting Finance Looks back Looks forward Because we have Because we want to comply to plan
9. Other KPI Opportunities Financial Budget to Actual GP,COGS By lines of business- whats 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.
10. Share to Execute Sharing with the team Manage by the $1,700 $23k agreed upon metric Avg. marketing spend/ month Avg. cost/FTE rather than to a (marketing) per month personality. (staff) Accountability: Who 26% Revenue owns which metric? growth (sales) Make an employee CEO of something. They need to own something because you cant own it all.
11. Your Advisors Need to be partof your vision dashboard too. Relationship with: Bookkeeper CPA Advisors/Coach Key Staff Trade Associations how am I doing?
12. 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
13. Share the Results You cant react alone Make the results visual to everyone Share in the winnings Reset expectations Re-measure What gets measured gets done. Stay the course!
14. Thank you! I can be reached at Scott.Juetten@Gmail.com
15. Whats happening with your business while youre busy working in it? In a few minutes each month, we get to see a clear picture of our finances and can manage our goals $69/mo + setupPractice Proactive Management and in 30 minutes a month youd know