Written By: Cassian Soltykevych Posted:25 days ago
I am excited to meet you in just over a month! September 26th is Cash Day! This is the Learning Day focused on the oxygen for our businesses, cash in the bank!
Please spend some time before our Learning Day and dig up your past two years of Balance Sheets and P&L Statements. Bring those - electronic is great and paper works, too. We will be using a couple of tools to explore creating and keeping our cash. They are Gazelle’s tools called the Cash Acceleration Strategies (looking at where our cash comes in and goes out) and the power of shifting some key cash items by 1% - The Power of One.
Both those worksheets can be found here.
In addition, Greg Crabtree has developed an interesting tool he calls the Labor Efficiency Ratio, which is a way to think about and measure how productive our labor is. Here is a short article he wrote that explains the measure.
You may have seen these tools before, as they are tools that a business can revisit every year! If they are new, we’ll be sure you gain a good understanding of how valuable they are; if you have begun to work with them, we’ll dive deeply into their power.
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