Business Boot Camp—Are You Ready?

Are you ready for 2012? Has the last year gone as you planned? Measure twice; cut once is an expression that applies just as aptly to your business as it does to construction. You may not have achieved all you thought you would in 2011 but don’t let a lack of preparation be the cause of a repeat in 2011. You can decide to do everything possible to change in 2012 or choose to just see what happens. Start off right

January and February Only (January is sold out)

In January and February The Fremont Group offers their “Business Boot Camp” You will be assigned a Success Partner who, in one week, will tear your business apart and lay out a plan for SUCCESS IN 2012. They are not “yes men” so be prepared. The Fremont Business Boot Camp is not a seminar—it is an intensive implementation package designed to implement change; not talk about it. If you are not committed to change you should not enlist.

Who is eligible:

Your company must have more than 5 employees and have been in business more than two years. (Call for separate camps for start-up and small firms.)

You must be a “working owner” who is open to change.

You may not have more than 100 employees.

What you will get:

  • Your entire company will become focused and “on the same page.”
  • Obstacles to achieving your results will be aired, addressed and the entire organization will be utilized to eliminate those obstacles.
  • Employee productivity will increase through “buy in” and proper use of accountability and incentives.
  • You will have a clear game plan that is designed to “win the game.” You will no longer be the football coach with a game plan that says, “if everything goes right we will only lose by a touchdown.”
  • What the bank wants to know and how to present it.
  • You will have a foundation for long-term success.
  • Your organization will have a new appreciation of your role as owner of the company.

How you will get it (Sample Agenda):[1]

Monday

Morning: Introduction to staff and tour facility. Meet with owners and key employees and distribute Minding My Own Business questionnaires. Gather financial information.

Afternoon: Identify your goals for 2012 and become familiar with your operations. Gather questionnaires and any additional information needed to complete a SWOT analysis of the company.

Evening: Success Partner completes financial analysis and analysis of the company and analysis of company morale and organizational issues.

Tuesday

Breakfast: Success Partner and Head of Accounting

Morning: Meet with owners to review their analysis of current financial position. Present Accounting 101 to owners and financial staff (if required). Establish company budget and KPI’s. Assign Head of Sales to prepare a summary of the company’s “Sales System” for presentation on Wednesday.

Afternoon: Review the findings from the Employee questionnaires and interviews with owners. Contrast those findings with the owner’s perceptions. Identify current methods of employee accountability and incentives and develop the framework for desired methods of employee accountability and incentives.

Evening: Owners take Success Partner and key personnel to dinner—informal discussion.

Wednesday

Breakfast: Success Partner and Head of Sales

Morning: Review with owners the presentation of the current “Sales System”

Review company goals and re-write them as required. Present SWOT analysis for discussion (Strengths; Weaknesses; Opportunities and Threats). Determine how these should be presented to the staff.

Afternoon: Company meeting. Present SWOT analysis. Review findings of the first two days. Solicit input from the organization. Conclude with the establishment of a management committee (companies with more than 10 employees) and their first meeting.

Evening: Success Partner completes first draft of Action Plan.

Thursday

Breakfast; Success Partner and Head of Operations.

Morning: Meet with Management Committee (or owner in companies with fewer than 10 employees) to identify the five greatest issues facing the company and potential solutions. Review with owner and head of sales critique of the “Sales System.”

Afternoon: Meet with owners to develop a plan to address those issues. Develop a complete Action Plan for 2010. Establish benchmarks for progress.

Evening: Success Partner prepares formal Action Plan for presentation.

Friday

Breakfast and Morning: Meeting with owners to review presentation of Action Plan to the company. Presentation of the Action Plan in full company meeting. Wrap up.

How to enlist:

Call The Fremont Group at (303) 338 9300 and tell them you are ready for Boot Camp. Registration Fee is $9995 plus $500 for non-local travel; $100 for local travel. The travel and $4,000 non-refundable deposit is required to hold a date; balance due at the first meeting. Preferred method of payment is PayPal on this site. Companies who are members receive their discount.


[1] The agenda assumes that you business has a person who is the head of accounting; head of sales; and head of operations. In smaller companies the owner may double as this person. Other “tweeks” in the agenda normally have to be made to accommodate the unique situations in each company.

Do you have Financial Control of your company?

Our previous two posts related the need for your two critical financial tools—your budget and your cash flow forecast.  Absent either you do not have financial control of your company, however even with them all you have are the tools.  A red letter rule of our work is that people dependent businesses fail; systems dependent business thrive.  Financial control must be achieved through systems, procedures and controls.  Your budget defines what you can afford; your cash flow forecast when you can afford it.  The entire concept of “what and when you can afford” something can be summed up in a story we tell during our workshops.

A homeless man and a suburban housewife were approaching a Starbucks.  The homeless man had a dollar bill, three quarters and a dime in his pocket.  He looked at the four-dollar coffee and said to himself, “I really want that coffee but I don’t need it.”  He went on without going inside.  The suburban housewife had plenty of money in her checking account and debit card in hand.  She looked at the four-dollar coffee and said to herself, “I really need that cup of coffee.”

The moral of the story—the difference between a want and a need is the balance of your checkbook.

Business owners without real financial control claim to have control by “only buying what we need.”  As you can see, what you need is controlled by the balance of your checkbook.  A large payment comes in from a client and suddenly many of the things that you previously only wanted are now needs.  Cash can never accumulate because your “needs” expand.  Your budget is your financial plan designed to produce a desirable, predetermined result.  This tool is a continuous work in progress.  A system needs to be implemented where each week your Key Variables are tracked against your budget.  Customized to the size and abilities of your staff, this task is delegated to a person who is held accountable for that result.  Your responsibility as owner is the enforcement of that system.  The manager must be trained, given the information that they need to compile the report, and delegated the authority to control the result.

The cash flow forecast monitors the blood in your veins.  Each week the report must be compiled and delivered to you for your review and identification of the adjustments required to maintain a positive result.  Some sense of urgency regarding sales, collections and expenditures can then be delegated with oversight.  Real financial control of your company is achieved through the implementation of systems, procedures and controls that use your two financial tools.  The Success Partners of The Fremont Group work with their clients to develop and implement these customized systems.  Give us a call.

To find out more about Financial Controls log in (first register if you have not—it is free) and do a search for “financial controls”, “cash flow” or “budget.”  You will find numerous other posts on these topics.  During the Annual Physical that we provide our members, with an analysis of the financial control system and an Action Plan for their development.  MEMBERSHIP BENEFITS

Winter Webinar Schedule

Check out the Winter Webinar Schedule!  As always, webinars are FREE to members.  Check out this and the other benefits of membership.

The Fremont Group Blog

The Fremont Group is a non-profit, membership organization.  The most recent blog post is always visible to all visitors, however to search or read other posts you must register and sign in.  There is no fee for registration.  You will be contacted to inform you of the benefits that we offer.  NO OTHER USE is made of this information–it is not sold or distributed.  Registration gives you full access to the blog, however membership is required to receive full access to this site.  There are numerous benefits of membership and hope that you will become a supporting member of our organization.  It is through that support that we offer our educational and mentoring programs.

 

The Fremont Group Academy

The Fremont Group is proud to announce the launching of The Fremont Group Academy.  Through TFGA business owners can earn certificates in business management and acquire the skills required for success.  The courses are free to members.  Go to http://tfgacademy.prfessor.com/home and learn more.  We are currently enrolling for “Minding My Own Business”– a comprehensive review of the six responsibilities of a small business owner based upon the book of the same title.  This course is FREE to non-members for a limited time.

2011 Survey–72% of Small Business Owners Lack Financial Controls

The Fremont Group conducts an annual survey of small business owners.  There will be additional posts on other aspects of the survey.  With January posts devoted to financial control of your company we will start releasing results in that area.  SEVENTY-TWO PERCENT OF ALL RESPONDANTS INDICATED THAT THEY NEITHER HAD A BUDGET NOR PROJECTED THEIR CASH FLOW!

  • No regularly produced job costing or tracking reports
  • No regular use of a budget
  • Variance analysis reports are not regularly generated

Is there really any wonder why so many small businesses fail?  Ironically not a single member of The Fremont Group gave any of these responses.