Business Management 1&2
September 14, 8:30 am to September 15, 4:30 pm
Would you like to improve your business skills, your understanding of financial statements, productivity, profits, or your cash flow? MCABC’s Business Management program is for anyone who would like to gain management skills in order to move up in their career, or for managers who would like to add to their current skill set. The program’s approach is practical and job-relevant, with a high degree of participant involvement. Program benefits are accessible and immediate.
MCABC’s Business Management program is comprised of two courses that cover four modules: Pricing, Profits & Cash Flow; Financial Statements & Business Planning; Planning & Control; and General Business Practices. Business Management 1 & 2 covers the first two modules.
~ New!: Ron will cover the new tax rules on Passive Income and Income Sprinkling ~
Gold Seal Accredited! 2 Gold Seals for each course
Instructor: Ronald Coleman
Module 1 — Pricing, Profits & Cash Flow:
- Double your profits by implementing four simple techniques
- Differentiate between cash flow and profit and know why companies go broke, even when they are making profits – avoid the cash trap
- Understand the difference between mark up and mark down; it’s the difference between making money and losing money
- Develop a profitable job profile – focus on the right work for you
- Identify profitable work – Which types of job generate the best profit for you?
- Understand Pricing Sensitivity – use these most important principles and don’t get caught in a “reverse auction”. Avoid the Price Wars.
- Improving cash flow – the better you manage your cash – the more money you make
- Increase your charge out rates
- Calculate your monthly break-even sales
Module 2 — Financial Statements & Business Planning:
The 3 M’s- Measure, Monitor, Manage
Understanding financial statements, interpreting your numbers and managing your business through the use of a business plan or Plan of Action are all essential components of a successful business. Understand how to structure your financial statements to ensure you qualify for maximum bonding and maximum bank financing at the best rates and for management purposes
- Identify, calculate and interpret the key financial ratios
- Identify weaknesses in your structure early enough to correct them
- Know what the banks and bonding companies use as a benchmark
- Ensure your income statement can reconcile to your job costing
- Know why and when you should complete a business plan
- Develop the process for a simple and effective Plan of Action
- Understand the elements of business success
What manager runs a business without understanding the numbers?
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