This document outlines an agenda for a webinar on coaching team members, having difficult conversations, and finding waste. It discusses change management models, coaching skills, mapping difficult conversations, slowing down to speed up, the seven types of waste, and basic accounting definitions for profit/loss statements and balance sheets. Financial levers like price, costs, overheads, and sales volume are presented as ways to increase profits. Key drivers of cash flow are identified as sales, costs of goods sold, overheads, work in progress, debtors/creditors, and debt movements.

1. Russell Cummings
27 June 2018
Webinar 2

2. Agenda
•Coaching your Team members
•Having difficult conversations
•Step off the accelerator
•Looking for Waste
•Finance basics

3. Empowering the Team
https://www.youtube.com/watch?v=OqmdLcyES_Q

4. PHASE 2
Resistance
PHASE 3
Exploration
PHASE 4
Commitment
PHASE 1
Denial
The Change Curve Model

5. INSTRUCT
MOTIVATE
TRUST
SUPERVISE
SKILL
ENTHUSIASM
LOW 0
HIGH 10
HIGH 10
5
5
The coaching approach will need to vary depending on the person you are coaching.
Coaching Skills

6. GRO-DOH Model

7. GRO-DOH Model Exercise
Select a difficult conversation and map it out.

8. Personal Performance
Slow down to speed up

9. Step off the accelerator ‘slightly’

10. Actions: Step off the accelerator
‘slightly’
What can do to slow down
slightly and do a better job?

11. Looking for Waste

12. 1. Overproduction
2. Waiting
3. Transporting
4. Inappropriate Processing
5. Unnecessary Inventory
6. Unnecessary Motions
7. Defects
Wastes – Seven Wastes

13. • Look for piles of “stuff” – waiting or inventory
• How can you reduce this?
• Think about the ergonomics of your desk, office, vehicles
• Do you have everything you need regularly – close by?
• Set up standard ”kits” or toolboxes
• Think about the amount of travel you do
• How can you reduce this? Scheduling?
• Can you make better use of travel time? Audio-books, podcasts?
• Review the Tasks you do?
• Can someone else be doing them?
• What is the best use of your time?
• Errors and mistakes
• Review them – timely, action plans
• Understand the “real costs” of these errors
Waste Tips

14. Accounting Basics

15. Accounting
101:
Profit &
Loss and
Balance
Sheets

16. • Assets – a resource with an economic value that an entity owns
or controls – property, equipment, stock, WIP, cash, loans by us,
Debtors (receivables)
• Liabilities – future sacrifices of economic benefit – loans, debts,
creditors (Accounts Payable)
• Equity – Ownership interest – how much of the Assets do we
own?
• Some Balance Sheet movements between Assets and Liabilities
will not be reflected in the P&L e.g. cash to pay capital. Change in
valuation. Can also include “provisions”.
Basic Definitions –
Balance Sheet

17. Accounting
101:
Profit &
Loss and
Balance
Sheets

18. • Revenue – Income in all its forms – sales, rebates, payments, interest.
Excludes capital movements.
• Cost of Goods Sold (Direct Costs) – accumulated total direct costs of
product sold – usually includes: stock, transport, production labour,
consumables – note: Trading Stock calculations
• Overheads (Fixed Costs, Expenses) – additional costs in running a
business includes: costs that do not vary directly with production
includes: depreciation and finance payments for interest.
• Profit – a financial gain when revenue exceeds expenses. Not
cashflow.
• Cashflow – net result of all cash movements in the business excludes
non-cash transactions but includes capital payments and asset sales.
Basic Definitions –
Profit & Loss

19. Accounting 101:
Profit & Loss and Balance Sheets

20. Accounting 101:
Profit & Loss and Balance Sheets

21. Accounting 101:
Profit & Loss and Balance Sheets

22. Accounting 101:
Profit & Loss and Balance Sheets

23. Accounting 101:
Profit & Loss and Balance Sheets

24. Accounting 101:
Profit & Loss and Balance Sheets

25. Some financial models

26. The Profit Model

27. There are only 4 ways to lift profits:
What lever would you pull to increase profits in your business?
Increase Price
Decrease Direct Costs
Reduce Overheads
Sell more product at same cost structure
Financial
Levers to
Pull

28. There are 6 key drivers of cash in your business:
• Sales
• COGS
• Overheads
• WIP & Inventory
• Debtors and Creditors
• Debt movements
Cash Drivers

30. Thank
You
Russell Cummings
Business Consultant
M: 0414 929 585
W: www.shifft.com.au
E: russell@shifft.com.au