On your mark..Get set..Go!
Another year behind us….and by all indications it should have been a profitable year, one that increased company cash flow, equity and overall third- party value. If this is true… HORRAY for you. On the other hand, if your sales have been flat the last couple of years without any significant growth in earning and cash flow, you need to conduct an internal audit to find out why. (To be discussed in a future column)...
Going once…going twice…
Material Handling Wholesaler (MHW) gave you an opportunity on October 10th to make a LOT OF MONEY within the next six months. I am referring to the webinar titled ESOPs for MATERIAL HANDLING, EQUIPMENT RENTAL COMPANIES /DEALERSHIPS, and RELATED INDUSTRIES. I hope you had time to attend and learn how this transition option can put a lot more money into your bank account and still allow you continue working with the same staff you...
Time to do some of that financial stuff!
-Complete internal financial statements and supporting schedules for June and then Q2.-Time to review actual results against the plan for 2018.-Time to update the plan for the rest of the year with specific goals in mind.-Time to review new and used sales results to see which sales personnel need help.-Time to check out what inventory you have and what you have ordered for the rest of the year.-Time to review the rental fleet to see...
Sometimes problems = opportunities
As you well know, every industry goes through a kind of repetitive cycle to the point where management knows how to mitigate the negatives and come out the other side of the dip right side up. And, I am continuously amazed how highly leveraged dealers such as yours manage your way through the dips which provide lower sale numbers and related cost cutting measures. I guess if you experience these cycles long enough you learn how to...
Let’s be careful out there
Remember the TV program “Hill Street Blues?” It was one of the most popular cop shows on TV. At the beginning of each show the sergeant would brief the troops and his last statement to end the briefing would always be “Let’s be careful out there!” Good advice for their line of work. This month I am going to give you that same advice. Lift truck dealers…..Be careful out there. Why? For a lot...
Use golden handcuffs to grow business
It is truly wonderful when business is good. You can pay down some bills. Have extra bucks to repair or replace needed equipment. Pay down bank loans. Pass out some bonuses. Take a vacation. Put some money in your retirement accounts. But then reality sets in. You have the business right there in front of you, but you don’t have the manpower to do the work in a profitable, efficient manner. What is going on? Where are the...
What’s in your projection?
Why am I asking about your plans for 2018? Because based on everything I hear, read or see company owners are anticipating a strong 2018, and I assume you are too. What peaked my interest in business planning for 2018 was my attendance at an annual wealth planning meeting for bank customers to review 2017 investment performance and expectations for 2018. After a brief introduction one of the main speakers asked the attendees the...
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