DATE: July 27, 2021
TIME: 12 - 1 p.m.
Session 6 -Finance
The sixth session of our Small Business Series is all about finance. This one is specifically about Key Performance Indicators (KPIs). Small business owners wear many hats and invest huge effort in building and growing their business. Spending time pouring over financial statements may not be their priority or passion. If all business owners can have a one-page dashboard that summarizes business performance over the last month and year to date, the owner can see at a glance if the business is ahead (green), on plan (yellow) or behind plan (red). The essential metrics can be Revenue, Gross Margin, ROE or other non-financial metrics like leads, new customers, etc. This essential tool helps the owner focus on the KEY metrics for their business owner and leadership team. They can celebrate successes or decide on corrective actions that need to be taken to get the business back on target. This concept is regularly used in large businesses and corporations but is relevant to ALL businesses. The presenter will share some practical examples of small businesses that have applied this tool and the impact it has had on their business performance and operations.
Meet the Presenter
Lou Davenport has been with SCORE for 24 years, serving as a mentor, Chapter Chair, District Director and on the National Advisory Council. Lou spent 35 years as a senior financial management executive with Armstrong World Industries. He has extensive business and financial planning experience with both start-up and existing businesses, spanning all areas of business financial planning and management, including financial analysis, business financing, financial risk management and turnaround challenges with existing businesses.
Thank you to our Small Business Series Sponsor:
This presentation is brought to you in partnership with SCORE Lancaster Lebanon. SCORE, the nation's largest network of volunteer, expert business mentors, is dedicated to helping small businesses get off the ground, grow and achieve their goals.