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brought to you by
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 [email protected]
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
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
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 [email protected]
MinsterBank.com
Joel K. Bopp Senior Commercial Lender
