shoot for the $tar$, you might hit the moon!
DESCRIPTION
Shoot for the $tar$, You Might Hit the Moon!. Daniel Jobe Friedman, Kannenberg & Co, P.C. “When something is measured, it improves. When something is measured and reported, it improves exponentially.” The Hawthorne Effect. What is the Missing Piece?. - PowerPoint PPT PresentationTRANSCRIPT
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Shoot for the $tar$, You Might Hit the Moon!Daniel Jobe
Friedman, Kannenberg & Co, P.C.
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“When something is measured, it improves. When something is measured and reported, it improves exponentially.”
The Hawthorne Effect
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History
Reinvention
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What is the Missing Piece?
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Each Employee Should Know…
The Objective
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Each Employee Should be Informed…
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Concept
1. Assign anticipated revenue to specific staff
2. Break figures down for accountability
3. Track progress individually
4. Provide tools to achieve goals
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Ten-Year Industry Sales TrajectoryRetail Sales Values in Billions of Dollars
$7.0$6.8$6.7$6.8
$6.4$5.9
$7.1$7.4$7.5
$7.8
20012002
20032004
20052006
20072008
20092010
The Music Trades, April 2011
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Sales – the roller coaster
Items to Breakdown per Sales Staff:
• Gross Profit Dollars vs. Salary (all annualized)
• Items per Sale
• Total Sales
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Group Sales PerformanceIncrease
Sales Staff Summary Prior Year Percent Goal
Total Sales 895,000$ 13.0% 1,011,350$
Gross Profit 350,000$ 7.2% 375,200$ Margin % 39.1% 37.1%
Items per Sale 2.25 10.0% 2.48
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Repair – the consistent
Items to consider:• Paying units by day
• Units repaired annually per person
• Average repair charge
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Repair Performance AnalysisIncrease
Repair Staff Summary Prior Year Percent Goal
Income Repair Labor 165,000$ 24% 204,600$ Repair Parts 45,000 20% 54,000
TOTAL INCOME 210,000 258,600
Paying Units Repaired 2,350 15% 2,703 Average Repair Dollars per Unit 89.36$ 95.69$ Average Units per Working Day 9.40 10.81
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Inspect what you expect!
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Lessons – traffic generator! Items to consider:• Individual Lessons
• Space utilization• Incentives by Student Count
• Group Lessons• Large profit generator• Safe learning environment • Promotes family activity
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Rentals – the annuity!
• Relationships are the key, so track them!
Analyze per Route Day/Week• Schools Visited• Active Rentals• Units Repaired • Step-ups Generated
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“The easiest thing is to react.
The second easiest is to respond.
But the hardest thing is to initiate.”-Seth Godin
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Wrap-Up
• Distribute the revenue load• Utilize more resources • Visit www.fkco.com for a more detailed spreadsheet
on ways to track performance for various revenue sources.
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AnyQuestions?
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“Free” Consulting MeetingsAt the Show
Contact Jen outside the Idea Center entrance
after this session to set up a meeting time