SCORE Profitability Part 1 of 3 - How to Determine Profit and Control Expenses

Description

This is the first of a three-part webinar on managing the profitability of your business. In Part One, we will review how to determine realistic profit goals and ways to manage expenses by covering the following topics: Budgeting for Profitability - Entrepreneurs often budget by taking last year's sales and increasing it by a few percent, if they budget at all. This section will take the traditional Revenue - Expenses = Profit equation and turn it around to make sure you are budgeting for profit first. Determining the Owner's Profit – Do you have a realistic idea of how much profit your proposed business can actually generate? We will show you how to determine how much profit you should expect to generate and how to make sure it actually ends up in your pocket. Examining Operational Expenses - Entrepreneurs often pay attention to sales and little else. They expect extra sales to result in extra profit, but too often this does not happen. This section examines all categories of operational expense with a goal of significant overhead reduction. Examining Variable Expenses - We will perform a similar analysis of variable expenses to suggest ways to reduce them and increase gross profit. We will also look at the different impacts of operational versus variable expenses and why you should take steps to move expenses from one category into the other. THIS IS PART 1 OF 3. TO GAIN A COMPLETE UNDERSTANDING OF BUSINESS PROFITABILITY, WE STRONGLY URGE YOU TO REGISTER FOR ALL THREE WEBINARS IN THIS SERIES! Our Presenter, Craig Linsky FINANCIAL INDUSTRY EXPERIENCE: 27 Years in the Financial Industry with background in Customer Insights, Small Business Analytics & Research, Consumer Product Analysis Retail Credit Product Analysis, Investments Sales Management, Branch Management, Small Business Lending, Treasury (Asset/Liability) Management and Market Research. FINANCIAL SERVICES VOLUNTEER CORP. EXPERIENCE Conduct training seminars on strategic planning, marketing, new product development and competitive intelligence for bankers in Jordan, Tunisia, Egypt, Algeria and Iraq. SCORE EXPERIENCE: Ten years as a SCORE member. Six years as Chairman of the Client Education Committee. Develop, present and manage workshops on various small business topics. Provide one-on-one mentoring to entrepreneurs.