The Key to Financial Success
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The Key to Financial Success

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Frank Coker speaks at the Connectwise conference about the steps to financial successmanagement

Frank Coker speaks at the Connectwise conference about the steps to financial successmanagement

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The Key to Financial Success The Key to Financial Success Presentation Transcript

  • Presented by: Frank Coker, CMC, MBA CEO CoreConnex, Inc. Producer of the CorelyticsTM Financial DashboardThe Formulafor Financial SuccessThe journey to proactive financial management
  • Business Stages
  • Managing the Business1. Fun2. Intentional3. Proactive View slide
  • Financial Management Startup • Earn and spend Established • Earn, reserve and spend Growth and Expansion • Earn, invest, reserve and spend Ownership Transition • Earn, invest, retain, distribute, and spend View slide
  • Key Areas of Control1. Cash - requirements forecasting2. Margin - COGS – direct costs3. Profit - excludes owner incentives4. Ratios - DOR, Quick, Growth Rates5. Investment - ops vs capital6. Valuation - market value
  • Static vs Trend Analysis Versus
  • Static vs Trend Analysis
  • Static vs Trend Analysis Benchmarks Conventional S-L IndexTM • Survey-based • Real Data (wishful thinking) • Qtr -> Monthly • Annual updates • Business model • One size fits all based • Trend analysis - • Trend analysis - fuzzy granular
  • Your Business Model
  • Your Business ModelAdditional Elements• Size ($, staff)• Location• Organization• Target market
  • Corelytics | ConnectWiseEditionPerspectives• Goals• Benchmarks• Trends• Forecasts• Profile
  • Corelytics OptionsNow• Lite• StandardFuture• Ops+Finance• Cash management• Portfolio profitability• Peer Collaboration
  • The Formula for Success1. Tools2. Goals3. BI4. Continuous monitoring5. Collaboration
  • 30 Minutes a Month
  • Learn Morehttps://dashboard.corelytics.com