Creating a Profitability Culture in Your Business

This one-day workshop designed to help hardware business owners and managers create a work environment where everyone is working together to improve the profitability of the business. It gives participants a clearer understanding of the financial fundamentals that underpin the business so they can share knowledge internally and create a culture of profitability that can ensure the long term success of the business.

Location: Hardware Association Ireland, Blackchurch Business Park, Rathcoole, Dublin

Duration: One day

Cost: HAI Members: €210; Non Members: €270

For queries about future Creating a Profitability Culture training please contact Aoife at aoife@hardwareassociation.ie or call 01 298969.

Learning Outcomes

This one-day workshop will help hardware business owners and managers to think about their business in new ways, identify ways to improve profitability and then set them up to engage with their staff in order to promote behaviours that will build a profitability culture in their business.

Course Content

Participants will spend a day developing the business and financial skills that will generate practical ideas for improving the profits in their business.  Then they will focus on implementing these ideas in their businesses with the help of staff across the company.  Some of the topics covered will include the following.

  1.  A Focus on Business Drivers: The workshop begins with a focus on the main business drivers and challenges facing companies operating in the hardware and building materials industry.  Participants then explore the components of their own business model, the pieces of the jigsaw that need to be in place to create sustainable profitability, and then look at how to create greater value from the business model.  Objective:  Create three actionable ideas that will improve the effectiveness of your business model.
  2. A Focus on Revenue: What are the main sources and types of revenue in your business?   Which revenues are most important for your business?  What are the ways in which businesses can build and sustain revenue growth? How can you cross-sell and up-sell to achieve greater sales?  How can you attract new customers?  How do different revenue streams impact on profitability?  What can all of this do for your P&L?  Objective:  Create three actionable ideas for improving your profit margins via improved revenue generation.
  3. A Focus on Margin: What is gross profit margin?  Why is it so important?  What are its core elements?  How can you improve gross profit margin at business level?  How can different approaches to sales mix, pricing and discounting improve gross profit margin?  How can you optimise how you purchase materials and other inputs in order to boost margin?  What can all of this do for your P&L?  Objective:  Create three actionable ideas for improving your profit margins via improved margin management.
  4. A Focus on Costs: How do costs behave in different business circumstances? Which costs are controllable, which are not?  What can you do to improve how you manage costs?  What are the costs of carrying too much stock?  What are your other key costs and how can we learn from each other as business managers to improve our cost management? What can all of this do for your P&L?  Objective:  Create three actionable ideas for improving your profit margins via better cost management.

Who Should Attend

This one day training course is designed for Owners and Managers of Hardware Retail Stores & Builders Merchants who are responsible for the collection of the money due from both companies and individuals, who can go on to promote their own learnings to staff and colleagues and implement the actionable ideas into their business.

Methodology

This workshop will be highly interactive and practical and focused on enabling you to come up with immediately implementable actions to improve the profit culture in your business. The trainer will follow up with participants a month after the workshop via a one-to-one meeting either in person or via Skype/phone call to review progress.

About the Trainer:

Vincent Reynolds FCCA is a highly experienced facilitator and trainer with a background in consulting, corporate training and development, change management, finance and human resources.  Vincent started his career in general accounting practice before moving to a series of management and senior management roles with multinational corporations.  One of Vincent’s special areas of expertise is making the subject of finance more understandable and usable for non-financial managers and staff.  Vincent has worked successfully with HAI in the past, delivering highly valued cost-effective training courses to its members.

For any queries about future Creating a Profitability Culture training please contact Aoife at aoife@hardwareassociation.ie or call 01 2980969.

Become A Member