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(click here for Dr. Bates' Bio) |
RetailResults is hosting
the 3rd Annual Executive Financial Symposium for Flooring Retailers March 2-4,
2002. The symposium will feature the industry's foremost authority on retail
financial dynamics, Dr. Al Bates. Dr. Bates is the Chairman of the Profit
Planning Group and has helped thousands of flooring retailers improve their
bottomlines over the past 20 years.
(Read testimonials from other retailers) |
This is NOT some
generic, theoretical seminar on how accountants think a flooring business
should be run. It IS an intensive, 3 day learning and planning session, run by
a highly-experienced professional that will leave you with concrete plans and
goals to increase your profits. You will evaluate and use YOUR financial
statements to build YOUR profit plan for YOUR business.
Symposium Agenda
Day One: Understanding the Key Profit Drivers
Setting a Profit Target-Identifying what a realistic profit level is, considering both the need for salary and a return on investment. This section is designed to give management a specific target to shoot for in planning.
Identifying the Profit Drivers-The profit of most businesses are driven by a remarkably small number of different profit variable. This section will identify them. It will also set some priorities for them. In too many instances firms don't have a clear understanding of what is truly important in their business and what is not.
Goals For Improvement-This section will turn its attention to setting specific goals for improving 1) sales, 2) gross margin, 3) expenses, 4) inventory and 5) accounts receivable. The intent is to identify how much of an improvement can be made every year.
Case Study-The afternoon group assignment will ensure that participants can use the information presented during the day. A formal presentation of the findings will be made the next morning.
Day Two: Developing a Financial Plan
Cash Flow Planning-This section will identify the differences between cash and profit. It will also focus on draining the two key cash traps-inventory and accounts receivable.
The Planning Process-This section will provide the framework for effective financial planning. It will start with one essential concept, namely that profit should be the first factor planned every year. Every other element of the plan must revolve around the goal of enhancing profitability.
Case Study-The afternoon group assignment will ensure that participants can use the information presented during the day. A formal presentation of the findings will be made the next morning.
Personal Planning-This evening exercise will involve companies planning their own financial results. Assistant will be provided by the seminar leader as needed.
Day Three: Using Technology in Planning
Maintaining Control-This section will talk about the need to integrate on-going control points into the planning process to ensure that the firm stays on target.
Profit Advisor-This section will instruct the participants how to use a computerized planning/controlling system. Every participant will receive a copy of Profit Advisor to use in their planning processes.
Personal Planning-This exercise will involve companies planning their own financial results using Profit Advisor software. Assistant will be provided by the seminar leader as needed.
The tuition for
the Executive Financial Symposium is $2995 for the first person, and $2495 for
each additional person. The tuition covers all of your symposium expenses
including airfare, hotel, meals, transportation, group event and the symposium
materials. Many owners find that having their comptrollers and general
mangers attend with them helps to build and reinforce the overall effectiveness
of the financial sessions.
Make plans to join fellow retailers and
Dr. Bates March 2-4, 2002 in Atlanta. Registration will only be open to the
first 70 attendees and will begin in early December. Make plans to join fellow retailers and Dr. Bates March 2-4, 2002 in Atlanta. Registration will only be open to the first 70 attendees and will begin in mid-December. You can register by clicking here!
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