SLIDE 1 GGOB Basics—Financial Literacy
Opening the books: Keeping it Real
Angie Adamick Trainer Great Game of Business Springfield, MO Jonathan Harwood Warehouse and Logistics Manager CNHi Reman Springfield, MO Kelley Nichols Trainer Great Game of Business Springfield, MO
SLIDE 2
Open the Books: Keeping it Real
Ground rules: Since we can’t see you—use the ―chat‖ feature to share and ask questions. Use ―questions‖ if you want to tell us something privately.
SLIDE 3 Welcome
American Inst. of Building Design Collette Media LLC International Cars, Ltd. Accurate Electric Traction Tools—Software for EOS TopstepTrader LLC Crystal D. Dorian Drake International, Inc. Chestnut Ridge Foam, Inc. Alexander Nicholson, Inc. AMBAC Ceramex North America Get Uncommn Physician Family Financial Advisors Kinco Gloves 1st Pet Veterinary Centers Van Belle Nursery West Paw Design, Inc. Hildebrandt Tree Tech Ingenium Group LLC Madruga Bakery TRM Enterprises, LLC
SLIDE 4 Welcome
Paul Mueller Technion Data Solutions SRC of Lexington Advanced Services, Inc. Colville Whitaker Construction Co, Inc. Cherry’s Industrial Equipment Membership.com Acorn Sign Graphics Marco Products Earthres Group, Inc. Charlie’s Plumbing P.J. Wallbank Spring, Inc. MEINRAD Sister Cuisine, Inc. ASH Industries Biohabitats Anthony Wilder Design Custom Powder Systems
SLIDE 5
Open the books: Keeping it Real
SLIDE 6
Open the books: Keeping it Real
Why is opening the books so powerful? We build trust through transparency and education. We begin to identify the actions that drive the financial results.
SLIDE 7
Open the books: Keeping it Real
Let’s look at Kerbey Lane Cafes
SLIDE 8
Kerbey Lane: The Spoon Man
SLIDE 9
Kerbey Lane: The Spoon Man
Why is that story so compelling?
Please share with us through the chat feature.
SLIDE 10 Open the books: How do you feel?
POLL
- -I am taught to understand the company’s financial information.
- -I have a good understanding of the company’s financial performance.
- -Management is open and transparent with critical business
information.
SLIDE 11
Open the Books: How do we feel?
Let’s talk about the results!
SLIDE 12 Who is responsible for financial literacy?
- -formal training like Yoyo or Sally’s Grooming
- -informal training like financial literacy bites in big
huddles
- -informal training like departmental huddles where the
people closest to the work know best what can be improved
SLIDE 13 Open the books: Keeping it Real
CNH Reman Warehouse Huddle
- Employee of the Week – Create the Excitement
- Review Income Statement
- Question on Daily Sales and Run Rate - Prize
- Forecasts: Week vs. Week and Week vs. Budget
- How do the departments fit into the income statement
- Where does WH labor hit?
- Equipment, lost parts, Operating Supplies
- Where does production labor hit?
- Where does the Sales team labor hit?
- Leverage Director Notes for detailed explanation of
- variances. (one note)
SLIDE 14 Open the books: Keeping it Real
CNH Reman Warehouse Huddle
- Review Cash Flow
- What is the current Loan balance? – Prize
- Forecasts: Week vs. Week and Week vs. Budget
- What caused the change?
- Material Receipts higher than projected
- Payment made to large supplier – late invoice
- Bonus tracker
- Honest and Open Discussion
- 2020 Sales drop from COVID
- Questions
SLIDE 15
Making connections
After we understand the numbers, we can identify actions that drive those numbers— For example: How SRC chose ―employee retention‖ as a critical number and how it drove minigames.
SLIDE 16
Making connections
Share your ideas in the chat and we will post them here:
SLIDE 17 Open the books
Thank you so much—be sure to fill out the evaluation! One or more of us will be available during the Friday Round Table Discussion (12:00-12:30 CST) and Ask an Expert Session (12:30-1:00 CST). Please join us!
Angie Adamick aadamick@ggob.com Kelley Nichols knichols@ggob.com Jonathan Harwood jharwood@whyreman.com
