The Key to Financial Success

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

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The Key to Financial Success

  1. 1. Presented by: Frank Coker, CMC, MBA CEO CoreConnex, Inc. Producer of the CorelyticsTM Financial DashboardThe Formulafor Financial SuccessThe journey to proactive financial management
  2. 2. Business Stages
  3. 3. Managing the Business1. Fun2. Intentional3. Proactive
  4. 4. 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
  5. 5. 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
  6. 6. Static vs Trend Analysis Versus
  7. 7. Static vs Trend Analysis
  8. 8. 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
  9. 9. Your Business Model
  10. 10. Your Business ModelAdditional Elements• Size ($, staff)• Location• Organization• Target market
  11. 11. Corelytics | ConnectWiseEditionPerspectives• Goals• Benchmarks• Trends• Forecasts• Profile
  12. 12. Corelytics OptionsNow• Lite• StandardFuture• Ops+Finance• Cash management• Portfolio profitability• Peer Collaboration
  13. 13. The Formula for Success1. Tools2. Goals3. BI4. Continuous monitoring5. Collaboration
  14. 14. 30 Minutes a Month
  15. 15. Learn Morehttps://dashboard.corelytics.com

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