dashboards for small business
TRANSCRIPT
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DASHBOARDS A great business tool for small and medium
businesses
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IF YOU CANNOT MEASURE IT, YOU
CANNOT MANAGE IT
How visible is your business performance?
Over 51% of owners do not review their businesses performance
Why? What are the most common reasons?
1. Do not have time
2. Do not understand the business reports
3. My business seems to be tracking ok , why bother?
4. My accountant looks after the business reports
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BUSINESS OWNERS CONCERNS
Business owners have areas of concern. Some common ones are:
1. Lack of bottom line profit
2. Cash shortages
3. Identifying and reducing costs
4. Growing revenue
5. Stagnant growth
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Is this your
end of
month ?
Do you have
multiple
sources of
data to try
and
understand?
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Mar 14 Apr 14
Ordinary Income/Expense
Income
Govt Subsidy 2,500.00 2,500.00
Sales (Sales)
CNC 29,110.05 29,110.05
Engineering 27,877.56 27,877.56
Pumps 30.00 30.00
Total Sales (Sales) 57,017.61 57,017.61
Total Income 59,517.61 59,517.61
Cost of Goods Sold
Consumables
CNC 3.59 3.59
Engineering 24.02 24.02
Gas 320.00 320.00
Consumables - Other 9,607.32 9,607.32
Total Consumables 9,954.93 9,954.93
Freight & Handling Fees 1,036.40 1,036.40
Materials 32,880.48 32,880.48
Other Manufacturing Services
CNC 1,836.00 1,836.00
Other Manufacturing Services - Other 4,245.94 4,245.94
Total Other Manufacturing Services 6,081.94 6,081.94
Wages
CNC 20,041.58 20,041.58
Engineering 26,745.00 26,745.00
Workshop 5,944.08 5,944.08
Total Wages 52,730.66 52,730.66
Total COGS 102,684.41 102,684.41
Gross Profit -43,166.80 -43,166.80
Expense
Accounting Fees 555.00 555.00
Advertising 377.90 377.90
Computer / Office Expenses 205.17 205.17
Consultancy 1,866.20 1,866.20
Depreciation
CNC 8,747.58 8,747.58
Eng 4,194.49 4,194.49
Depreciation - Other 937.08 937.08
Total Depreciation 13,879.15 13,879.15
Donation 48.00 48.00
Electricity 3,109.02 3,109.02
Freight & Courier Fees 155.30 155.30
Govt. charges (bad tax, stamp duty, etc etc) 0.10 0.10
Insurances 1,738.35 1,738.35
Internet 111.52 111.52
Lease / HP - CNC
HAAS 5th axis + HAAS table 306.15 306.15
Okuma LB300MC-SSB 397.82 397.82
Okuma Mill MM56VA-S15 683.07 683.07
Total Lease / HP - CNC 1,387.04 1,387.04
Lease / HP - Motor Vehicles
Amarok 120.62 120.62
Multivan 145.68 145.68
Total Lease / HP - Motor Vehicles 266.30 266.30
Lease / HP - Office Equipment
SBS Server System 119.22 119.22
Total Lease / HP - Office Equipment 119.22 119.22
Magazines & Subscriptions 5,430.00 5,430.00
Motor Vehicle Expenses
Fuel & Parking 1,107.72 1,107.72
Registration & Insurance 193.30 193.30
Every month
same
spreadsheet.
Boring and
difficult to
read.
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WHY ARE BUSINESS PERFORMANCE
REPORTS IMPORTANT?
Diagnosis
Relevant information gathering
Breakdown of information
Cure
There is not ‘one fix’
Design and implement corrective actions
Prevention
Use an on going monitoring regime
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Easy to
understand
visual
presentation
of business
information
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FILTER SELECTION
…Select All
…Chemix Labs Ltd
…Chieftan Four Inc.
…Credit Union of The Rockies
…Cross Western Store
…FH Overseas Export Inc.
…Up to one million customers
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FILTER SELECTION
…Millward
…Murphy
…Smith
…Wilkinson
…Young
…up to one million suppliers
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USING THE DASHBOARD
By using the information from the dashboard functions, corrective
actions can be applied to the business
Targeted cost reduction programs
Marketing & sales initiatives
Supplier pricing performance
Customer activity
Stock turnover
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PREVENTION
Monitor your business
Regularly use the information displayed
Act on findings
Review outcomes
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DASHBOARDS
Converts data into valuable information
Easy to read
Simple visual graphics
Filter capabilities
Great for report generation
Saves businesses money
If it’s data it can be made into a dashboard