For the second year, Dealer Strategic Planning Inc. (DSP) offered a one-day budget workshop for its 20 Group members during the Specialty Equipment Market Association (SEMA) Show week in Las Vegas.
Twenty members attended this year’s workshop. (20 Group members are tire and automotive service dealers who meet three times a year to share best practices and benchmark against the industry to improve financial performance.)
At the workshop, each 20 Group member is supplied with a history of their detailed 2013 income statement by month on a simple excel flash-drive worksheet. The dealer can view the history and make decisions about upcoming influences on his/her business for the coming year. Without business distractions taking focus away from preparing a budget, the business owner finishes the day with his business plan complete for 2014.
“The budget workshop is just one of the values realized by being a 20 Group member,” says Norm Gaither, DSP owner. “Without a business plan, it’s like going on a trip without a map. This is one of the most important essentials of running a successful business and too many owners don’t take the time to work ‘on’ their business instead of ‘in’ their business. The popularity of this workshop has grown tremendously and we expect to continue this offering to our members for years to come.”
Following the workshop, some attendees commented:
Chris Cloutier, Golden Rule, Rowlett, Texas:“I am not a numbers guy, so I was a little concerned with writing a budget before the meeting. Norm and Patrick (Smith) have put together a worksheet and class that I quickly picked up on. I believe that having a roadmap helps you get to where you are going, and believe this budget class lays down a solid map for my company’s future or at the least for next year! I will be back next year!”
Robert Hubert, Lee's Service Inc., Reedly, Calif.: "Norm and Patrick have made the budget process so easy. DSP came prepared with all my prior year's data already entered on a flash drive, including all the formulas. All I had to do was forecast the upcoming year by month. I have committed this one day to look at next year for my business, I will leave here today with a completed 2014 budget."
Dave and Jackie Byma, Byma's Tire, Kitchener, Ontario, Canada: "Thank you DSP for helping us create our very first budget. We have been in business for over 25 years and have never implemented a budget. This is the best tool yet!"
For more information, visit www.dsp-20group.com.
