Cash Management. This should be a forecasting system (spreadsheet) that projects accounts receivable and other inflows against accounts payable and other outflows and allows management to anticipate shortages and take action before a crisis occurs or to improve the utilization of excess cash during periods of relative abundance. The projection should be for at least six weeks forward. Properly automated, this system should take no more than 15-30 minutes per week for an administrative person to generate for management review.
Budget. This is the one-year profit plan and critical to management control. This system should relate to the company's historical cost structure but allow for zero-based budgeting (justifying all costs by line item). The system should be automated to produce monthly budgets that directly relate to whatever sales volume was, in fact, generated. Properly automated, this system should require only a few hours per year of management input.
Variance Report. This system is complementary to the budget system. It should be automated to produce a comparison of actual results against budget and should report monthly and year-to-date totals by line item. The report should indicate trouble areas, by exception, for management to take action upon. Properly automated, this system should take 10-15 minutes per month for an administrative person to generate the report.
Key Indicator Flash Report. This report summarizes on one page the key weekly changes in cash position, accounts receivable, accounts payable, sales and inventories. Requires 10-15 minutes per week for an administrative person.
Labor Burden Worksheet. This spreadsheet keeps track of the costs of benefits and other employee related expenses by employee and department. The full cost per hour or year for each employee is reported, which can and should be used in pricing strategy and pricing calculations. A complementary Employee Benefits Sheet repackages the information for communication to the employee as their full-benefits compensation package. Requires 15-30 minutes per quarter for an administrative employee to update information.
Job or Product Pricing System. This system automates the calculation of pricing required to meet overhead absorption requirements and budgeted profit goals or it can report net profit margin before tax on any proposed pricing scheme. This system is used as needed.
Incentive Plan Worksheet. This is a system for equitably distributing profit sharing monies to employees based on loyalty, performance and the extent of employee responsibilities. Properly constructed, it requires only 10-15 minutes per quarter to input updated information.
Break-Even Calculator. This system calculates the company's break-even sales volume by day, week, month or year. Also provides "what-if" capability to analyze major decisions that potentially and significantly affect the company's cost structure before the decision is implemented. This system is used as needed.
Weekly Sales Reporter. This is a reporting system that keeps track of sales by product group and salesman on a weekly, monthly and year-to-date basis. Requires 15-30 minutes per week for updating by the sales manager or designated subordinate.
Welcome To The... SMITH ENTREPRENEURSHIP GROUP Company Blog & Group Preview Website
Eric J Smith Founder Smith Entrepreneurship Group
The Smith Entrepreneurship Group companies are passionately committed to the ideology, pursuit, training, success and advancement of entrepreneurship and in turn entrepreneurs. Smith Entrepreneurship Group companies' focus starts with entrepreneurial training and or tutoring. Then moves to business consulting and coaching and on to commercial and business finance. Lastly, business and motivational speaking is offered. Each company is dedicated to the innovative and practical support of current and aspiring entrepreneurs.
A preview page for each of our companies has been provided as well as a link to each companies' website. Please don't hesitate to call us regarding any areas of interest.