the key to financial success
DESCRIPTION
Frank Coker speaks at the Connectwise conference about the steps to financial successmanagementTRANSCRIPT
The Formula for Financial SuccessThe journey to proactive financial management
Presented by:
Frank Coker, CMC, MBACEOCoreConnex, Inc.Producer of theCorelyticsTM Financial Dashboard
Start Up Lifestyle
Business Stages
Experienced Team
Building for Exit
Managing the Business1. Fun
2. Intentional
3. Proactive
Financial ManagementStartup
• Earn and spend
Established• Earn, reserve and spend
Growth and Expansion• Earn, invest, reserve and spend
Ownership Transition
• Earn, invest, retain, distribute, and spend
Key Areas of Control1. Cash
2. Margin
3. Profit
4. Ratios
5. Investment
6. Valuation
- requirements forecasting
- COGS – direct costs
- excludes owner incentives
- DOR, Quick, Growth Rates
- ops vs capital
- market value
Static vs Trend Analysis
Versus
Static vs Trend Analysis
Static vs Trend Analysis
Conventional• Survey-based
(wishful thinking)• Annual updates• One size fits all• Trend analysis -
fuzzy
Benchmarks
S-L IndexTM
• Real Data• Qtr -> Monthly• Business model
based• Trend analysis -
granular
Your Business Model
Your Business Model
Additional Elements• Size ($, staff)• Location• Organization• Target market
Corelytics | ConnectWise Edition
Perspectives• Goals• Benchmarks• Trends• Forecasts• Profile
Corelytics Options
Now• Lite• Standard
Future• Ops+Finance• Cash management• Portfolio profitability• Peer Collaboration
The Formula for Success
1. Tools
2. Goals
3. BI
4. Continuous monitoring
5. Collaboration
30 Minutes a Month
Learn More
https://dashboard.corelytics.com