Profit Mastery Financial Training - Online
About The Workshop: This is practical stuff!! You'll learn a process to evaluate the performance of your business, a strategy to implement change and to analyze actual business problems and situations. Valuable Reference Material: The workshop includes a detailed manual and the case studies used in the training modules. Additionally, all participants get access to online tools for applying the principles taught. The actual items covered are: INTRODUCTION AND OVERVIEW • Business Owner Roles, Responsibilities & Mngmt. Styles • The Seven Financial Reasons Businesses Fail • The Working Capital Cycle • The Financial Operating Cycle • Managing the Cycles More Efficiently MONITORING FINANCIAL POSITION • Understanding the Income Statement: Taking A New Look • The Balance Sheet: Understanding the “Forgotten Statement” • Using Ratios to Measure Efficiency & Plan For Greater Success • Case Study & Practical Application CAUSE/EFFECT: ROAD MAP TO A BIGGER BOTTOM LINE • Using Financial Ratios to Measure Efficiency • Identifying Financial Distress • Seeing the Symptom • Identifying the Cause of the Problem • Prescribing a Cure • Improving Cash Flow, Profitability, & Operational Efficiencies PROFIT PLANNING AND CASH FLOW ANALYSIS • Developing a Profit Plan & a Cash Budget • Identifying Key Patterns of Cash Flow PROFIT PLANNING - CASH FLOW ANALYSIS – cont. • Developing Seasonal Cash Budgets • Cash Forecasting as a Management Tool • Funding Seasonal & Long-Term Growth PLANNING AND MANAGING LONG-TERM GROWTH • The Role of the Balance Sheet: Forecasting Capital Needs • Financial Leverage & Debt Structure • The Cost of Growth: Paying Your Bills & Managing Risk • Planning for Successful Growth • Case Study & Practical Application INCOME STATEMENT: BREAK-EVEN ANALYSIS • Managing the Income Statement From the Bottom Up • Understanding Cost Behavior: Fixed/Variable Cost Patterns • Contribution Margin: Planning for Profits • Applying Break-Even In Your Own Business • Application of Break-Even: Cost/Benefit Analysis • Case Study & Practical Application DEALING WITH BANKS AND FUNDING SOURCES • Understanding the Loan Approval Process • What Bankers Look for in a Loan Request • Putting the Package Together • Summary, Conclusions, and Evaluations WHO SHOULD TAKE THIS CLASS? Business Owners, Key Managers, Entrepreneurs, Business Advisers, Lenders, CPAs (CEU credits are available) and others whose decisions have an impact on your company’s financial performance. The Profit Mastery Program is designed to enhance the financial management skills of all business people.
Speaker(s): Training profession is Ryan Murray, Regional Director of the Small Business Development Center in Price, UT. He is a certified Profit Mastery trainer.
Co-Sponsor(s): County Economic Development Offices and the Utah Governer's Office of Economic Development.
HOW IT WORKS Our Profit Mastery online training program is perfect for the busy professional who understands the value of taking control of their business finances but needs to do it on their schedule. PM online is just that, a flexible option to meet your needs done in 3 easy steps: MEET WITH YOUR SBDC ADVISOR To get started with PM online you will need to first meet with your SBDC Advisor. https://utahsbdc.org/center/ephraim/staff Your SBDC Advisor will get you registered for an online login as well as provide you with your Profit Mastery workbook. Your SBDC Advisor will also be able to help with any questions or support you might need during the training, as well as help you to implement the tools you'll learn from Profit Mastery into your business. WATCH THE WEEKLY VIDEO SEGMENT FOR EACH MODULE There are 6 modules and each module comes with an online video segment. You will need to watch the videos for each module and complete the exercises prior to sitting in on the conference call. CONFERENCE CALL WITH YOUR PROFIT MASTERY FACILITATOR We provide weekly and bi-weekly conference calls where you will be able to learn additional insight from the facilitator as well as ask any questions you might have about the training. Each conference call is scheduled for 30 minutes. You will receive the call-in information as part of your registration. If you have additional questions not covered during the call you can always work directly with your SBDC Advisor.
Fee: $ 395.00
No charge. The $395.00 registration fee is fully covered by funding from the Utah SBDC, County Economic Development Offices and the Utah Governor’s Office of Economic Development.