Discover How Sound Financial Management Grows Revenue, Profit, Equity Value and Cash-Flow. A 12 Weeks Financial Training for Non-Finance Professionals.
- 1. How to grow your business
Discover how small improvements in the Business Growth Drivers quickly compound to deliver outstanding improvements in profit and equity value.
Join us: Thursday 6th January @ 2pmBook Your Free Place
- 12. Performance vs Plan
With all the planning done, prepare your 5 Year 3 Way forecast and regularly report ‘Performance vs Plan’ to systematically grow your business.
Join us: Thursday 16th December @ 2pmBook Your Free Place
- 2. The Incredible Impact of Compounding
Understand the business growth drivers that are critical for effective management, sustained and controllable business growth.
Join us: Thursday 13th January @ 2pmBook Your Free Place
- 6. Customer Attrition
How engaged are your existing customers? Maximising engagement and improving customer results in improved retention, increased cross-sales and more referrals.
Join us: Thursday 10th February @ 2pmBook Your Free Place
- 8. Transaction / Transaction Value
Transactions x Average Transaction Value = Total Sales. These KPI’s are incredibly important because improvement can be quick and easy to implement.
Join us: Thursday 24th February @ 2pmBook Your Free Place
- Mastery Programme: Management Reporting Top Tips
This week our VFD Mastery Programme delegates were looking at two critical topics which apply to most businesses:
- Business Analysis & Opportunity Identification
- Business Start-Ups & Volatile Trading
The led to a healthy debate about how to get clients to engage with the process. Engaged clients will see the value and be enthusiastic about doing their part.
Here are the top tips that came out of that discussion:
- Offer to structure the agenda:
a. Agree accuracy of the notes from the last meeting, (correct detail, do not discuss the issues at this stage).
b. Celebrate success: We aimed to get from A to B, and need to celebrate the successes/progress before then talking about the underperformance, (key books to read: The 4 Disciplines of Execution, and The Gap and the Gain by Dan Sullivan)
c. Key points arising from the last meeting, ideally in priority / importance order:
d. Review financial performance – the actual and desired impact of activities on the business performance and priority KPIs
E.g. improving cash flow, increasing gross margin, reducing client attrition by X% to deliver a €XXXX impact which combined will deliver YYY by the end of the period
e. Include non-financial KPIs in the management review
f. Any other business at the end – but ideally ask that all AOB be tabled before the meeting and will ideally be added to point C.
- Offer to circulate the Agenda before the meeting (saves everyone a job and gives you more power and influence in the relationship) – ideally circulate at least 72 hours before the meeting, highlighting the key issues and who should have done what by the time of the meeting to increase the probably they will do it.
- Send each named person (with a key task to perform and report on), a ‘Friendly reminder’ that they are going to be called upon to present an update at the upcoming meeting.