Small changes can deliver big benefits. Our Profit Improvement Workshop is a hands-on intensive course designed to help you understand what drives the numbers in your business and the actionable steps you can take to increase your profitability.

Run over three half-day sessions and delivered in small groups, we’ll focus on demystifying profit, how to understand the true cost of your sales and measuring the profit in your business to give you the insight you need.

As these workshops are practical, you will be encouraged to bring your own set of management accounts for working on during the sessions, allowing you to put what you’re learning into action.

Course Overview

Week 1 : Understanding Profit

  • A sense of purpose – the need for clear business objectives & targets.
     
  • What is profit? 
    - Sales, turnover, revenue, direct costs, variable costs, gross profit, gross margin, fixed costs, indirect costs, overheads, operating profit, EBITDA etc. – what do they all mean and which ones to use?
     
  • Sales / Revenue
    1.) Customers - The most important element of every business
    - Customer-centric approach – what value do you “sell” and why should people buy? Are you selling a commodity or a “solution” to the challenges & problems faced by your potential customers? And IS it a solution?

    2.) How do you find new potential customers?
    - Who and where are your ideal potential customers? Are you missing out on revenue opportunities? How do you measure and track success?
    - What is the purpose of your website and/or social media? How do they fit into the Buying Journey of your customer?
    - Do they “deliver”? What should they deliver (sales?). What are you measuring?
    - Marketing & Sales - Are your sales and marketing functions integrated? Does marketing produce “content”, “brand awareness” or sales revenue?

    3.) Selling - the importance of an effective sales process
    - Do you have a Sales Process? Is it aligned to the “Buying Journey” of a potential customer?
    - Measuring effectiveness and tracking conversion rates

    4.) Revenue and pricing models – which is right for your business and are you maximising revenue from existing customers?

Week 2 : Understanding your costs and margins

  • Understanding the true cost of sales (COS)
    - What costs should I include in my COS?
    - Different costing models and pros/cons of each (e.g. standard costing, activity-based costing, target costing etc)
    - Managing the supply chain – creating win-win relationships
    - Stock / Work in Progress / cost of sales adjustments – a source of confusion?
     
  • Quick steps to improve your margins
    - Pricing: Selling value vs mark-up
    - Understand which products / services are profitable and which are not
    - Cut out / reduce WASTE: Introduce LEAN thinking

Week 3 : Measuring Profit

  • Management information and metrics – if you don’t measure it, you’re not managing it
    - Customer profitability
    - Product / service profitability
    - Market / sector profitability
    - What if…?
     
  • Digitising your business and the benefits of cloud computing and Software as a Service
     
  • Budgeting, forecasting and management accounts – are they worth the effort?
     
  • Cashflow – the true measure of success
     
  • Open discussion & any other questions

Register your place

To register your place at the next series of Profit Improvement Workshops email profitworkshop@jcca.co.uk.



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