Trucks, Parts, Service will host a free educational webinar 'Improving the Bottom Line for your Business,' sponsored by Fullbay and featuring Dr. Al Bates at 1 p.m. CT on Sept. 19.
During the webinar, Bates will demonstrate how aftermarket operations can improve their financial results — not just a little, but a lot. The program will walk attendees through every financial aspect of their business, including sales, gross margin, expenses, inventory and accounts receivable. In each area, Bates says attendees will be given specific targets and a road map for reaching those targets.
The program also will emphasize two essential concepts: "Planning Profits First" and "Setting Profit Priorities." The first of these topics will focus on treating profit as the first element of the plan that should be developed each year.
[RELATED: Register now for our upcoming webinar on bolstering your bottom line!]
"In most cases profits are simply viewed as what is left over after everything else has been covered. As a result, profits are never adequate," Bates says. "With a profit-first approach, all of the other elements of the planning process will revolve around reaching that profit goal. The second topic relates to putting effort where there is the greatest potential pay-off. Too many firms waste their time and energy in areas that do not dramatically improve results."
Bates is a long-time collaborator within the heavy-duty aftermarket, having spoken previously at CVSN's Summit and Distributor Training Expo.
He also is principal in the Distribution Performance Project, a research group devoted to distribution issues. He routinely makes approximately 50 presentations each year on topics such as Improving the Bottom Line, Getting Serious About Profit, Doing More with Less, and Pricing for Profit. He is also a featured speaker at the University of Innovative Distribution. He has written extensively in both the professional and trade press, including the Harvard Business Review, the California Management Review and Business Horizons.
"At the end of the session you will know exactly where you need to be during each of the next five years. You will also know how you are going to get there," Bates says.
For more information about the free webinar, and to register, please CLICK HERE. Interested parties who would like to view the webinar but are unavailable on the scheduled date also are encouraged to register, as a recording will be made available with a corresponding handout immediately following the event's conclusion.
