AWI e-briefs - 07/15/2010 (Plain Text Version)
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The Secrets Are in the Numbers
A Conversation with Marc Sanderson, Wilkie Sanderson
"If you are your organization’s CFO, would you fire yourself?" Learn the secrets of success that only financial trends reveal.
If you answer "yes" then you should attend two interactive sessions that Marc Sanderson, President and Owner of Wilkie Sanderson, will conduct on "The Cost of Doing Business," October 29 during the 2010 AWI Annual Convention in Denver. If you answer "no," then you should attend the session anyway. Regardless, you will take away "knowledge and action steps" you can put to use immediately, Sanderson said.
"In these economic times, if you don’t understand the numbers, you won’t have the tools to survive," Marc Sanderson of Wilkie Sanderson told AWI e-briefs. "In our industry, management tends to focus on controlling costs on the plant floor," he said. Sanderson singled out the Chief Financial Officer as a critical member of the management team, a craftsman who can examine a company’s financial reports and apply them to every aspect of operations.
During the upcoming AWI seminar sessions Sanderson plans to review the numbers in the 2010 AWI Cost of Doing Business Survey and Compensation Study Report and offer recommendations for attendees to turn their numbers into action. "Comparing your financials to the benchmark numbers in the CODBS Report is not enough," Sanderson said. "Turning the numbers into action items is the secret to cost-efficient business management and profitable growth," he said. Here’s his plan for the seminar sessions:
Step 1: Attendees will look at the CODBS Report benchmark numbers.
Step 2: Sanderson will explain how they can compare their financials to the benchmark numbers and industry averages in the Report.
Step 3: Sanderson and attendees will discuss what to do about favorable and unfavorable comparisons.
Sanderson will help attendees understand annual trends, the major benchmarks on which to focus, and the best way to view EBIT (earnings before interest and tax) and EBITDA (earnings before interest, tax, deprecation and amortization) – indicators of a company’s profitability.
The interactive format will include a lively question and answer forum and discussions among attendees. "I won’t be delivering a traditional PowerPoint presentation monologue," Sanderson said.
Maximize your participation at the two AWI CODB sessions. Bring your financials and accountant and CFO guidance. Click here to register.
Friday, October 29, 2010 – 9:00am – 10:00am
The Cost of Doing Business
Part 1: AWI’s CODB Survey Overview and Implications
Marc Sanderson, Owner and President of Wilkie Sanderson, an architectural woodwork manufacturing firm, has spent the last thirteen years steering Wilkie Sanderson from a small business to a professionally-managed strategic firm consisting of one plant with 100 employees and 65,000 square feet. Marc believes that you cannot run a successful business without facts and trend data found in AWI’s Cost of Doing Business Report Metrics. This workshop will highlight the results and practical uses of AWI’s 2010 Cost of Doing Business Survey & Compensation Study Report.
Friday, October 29, 2010 – 10:15am – 11:15am
The Cost of Doing Business
Part 2: Using AWI’s CODB Survey for Financial Planning
AWI’s Cost of Doing Business Survey (CODBS) delivers metrics in the 2010 report that provide important benchmarks for architectural woodworkers navigating their businesses through current and near-term turbulent times. Marc Sanderson, Owner and President of Wilkie Sanderson, uses the AWI metrics at every employee meeting to compare his firm’s performance throughout the year with industry averages. That way they stay on target, monitoring and responding to trends to remain profitable according to their strategic plan. This workshop will focus on using the CODBS metrics as the anchor for your firm’s financial planning.
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