brought to you by

A Personal Touch

Member FDIC

Joel K. Bopp Senior Commercial

Lender

Vandalia Loan

Production Office

6450 Poe Ave., Ste 101

Dayton, OH 45414

937-898-3380 jbopp@minsterbank.com

We believe the key distinction between banks is the way they serve their customers. Through honesty, hard work and quality customer service, our knowledgeable, friendly staff is ready and willing to assist you. Whether you are banking as an individual, a family or a business, you’ll benefit from sound, strategic advice, flexibility and locally made decisions from people who truly understand your needs.

MinsterBank.com

Entrepreneur Bootcamp Series

Steve Tieber, Owner

• Started in the bar business in 1990

• Opened the Dublin Pub in 1998.

• The Dublin Pub is located in the Oregon District.

• Offers an eclectic mix of delicious Irish foods and spirits

• Open seven days a week serving lunch, dinner and Sunday brunch.

• Due to its popularity the Pub underwent a major expansion in October 2014.

• 55 employees

4

Small business owners have so much to juggle.

Many see their business as a bunch of disconnected pieces…

The small business flurry Operate Navigate Communicate

Financials

Funding

Family

Assets

Accrual

Personality

Forecasting

Statements

Policies

Proprietorship

Reporting

HR

Margin

Cash flow

Clients

Lenders

Reporting

Targets

Gross

Fees

Permits

Liquidity

Balance

Training

Inventory

Bookkeeper

Insurance

Loans

Lenders

Regulations

Banks

Receivables

Profit

QuickBooks

Liabilities

Expenses

Sales

Franchise

Concepts

Research

Clients

Business Plans

Strategies

Planning

Systems

Marketing

Markets

Salespeople

Clients

Branding

Twitter

Facebook

Visibility

Message

Internet

Logo

Community

Blogging

Media

Audience

Websites

But when the pieces start to come together, your business makes sense.

headline

Body text

www.score.org/wellrunbusiness

…and you can see where your business is going.

The Hull – Your foundation must

be seaworthy

The 3 primary elements of a boat

The Sail – Will provide

movement

The Rudder – Will provide

direction

The 3 primary elements of a “well-run” business:

Ready… FIRE! Aim…

Operate Communicate

(Promotion)

Navigate

(Strategy)

“the Hull” “the Rudder” “the Sail”

Ready… FIRE! Aim…

Operate Communicate

(Promotion)

Navigate

(Strategy)

Growth Existence

An organized, well-run business

Ready… FIRE! Aim…

Operate Communicate

(Promotion)

Navigate

(Strategy)

Growth Existence

What’s included in “Operate”?

Operate Communicate

(Promotion)

Navigate

(Strategy)

Operate

People Dollars

Systems and Relationships

Are Subjective

Numbers

Are Objective

Be sure to remember that…

Let’s look at dollars first…

Numbers are one of the

Six Pack Key Points

Your critical numbers:

As the saying goes,

“Cash is King.”

Sustainability in business =

Cash Coming In

•Sales

•Receivables (IOU)

•Infusion of Capital

Cash Going Out

•Expenses

•Inventory Purchases

•Investment in Equipment, etc.

Do you have enough for:

• Paying Yourself

• Covering Expenses

• Receivables

• Investments

• Maintaining a Rainy

Day fund

It’s crucial to

Have A Handle On The Important

Numbers.

Your Profit And Loss Statement.

Where do you find them?

Trend your important numbers

The best way to watch them?

Sales tracking tools:

Microsoft Excel

Apple Numbers

Google Sheets

Trending will…

• Help you “get” the numbers

• Prompt you to take action

• Help you forecast where you’re

going

Now Let’s Look at Relationships.

So let’s look at the people.

People are one of the Six Pack key points

If you own a business, you’re

in the People business.

One group will ultimately decide if your business succeeds:

They will be judging everything that you do.

Do they enjoy doing business with you and your team?

Are your systems enjoyable and reliable?

Which experience do you prefer?

A transaction. A relationship.

How you treat people is

CRITICAL.

Clients. Employees. Suppliers.

If you own a business, you’re in the People business.

It bears repeating:

Relationship homework:

Talk with the people you do

business with.

Find out what they really think.

Please give us feedback by…

1. Completing a survey

2. Sending an email to

bootcamp@minsterbiz.com

Registration is live for the next

bootcamp on April 11th.

Reserve your spot & tell a friend!

Help Us, Help You

Contact Us

Member FDIC

Vandalia Loan Production Office

6450 Poe Ave., Suite

101

Dayton, OH 45414

937-898-3380 jbopp@minsterbank.com

MinsterBank.com

Joel K. Bopp Senior Commercial Lender