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This course gives you specific ways to immediately impact an organization's bottom line. These proven techniques for plugging the most overlooked profit leaks come from specific strategies for lowering costs, improving productivity or gaining efficiencies. We will explore the different methods in depth to show how easy they are to implement, yet make a huge bottom-line impact. Each tool or strategy is one that you can pass onto clients and coworkers.
OBJECTIVES
PREREQUISITE: None
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Overview
Welcome to a new course on how to become more profitable!
Learning Objectives
This leading-edge workshop is designed to give you specific ways to create a positive impact on your firm's "bottom-line". The focus is on permanent, long-term solutions embedded in your cultural ideals instead of the common short-term fix of cost-cutting and layoffs. This proven strategy will pay off in lowering your costs, improving productivity, and gaining efficiencies. You will leave with a keen understanding of how to reverse the unwise decisions and weak processes that lead to significant profit leaks.
We accountants spend a majority of our time dealing with the cost side of the business. There are many techniques to reduce this time while producing better, more accurate results. This innovative workshop provides you with the opportunity to design a more effective cost management process.
Course Objectives
As a result of participating in this workshop, you will
Atypical CPE
This course will be very different from the type of CPE you are used to taking. It is not a lecture
session-it is an opportunity for application. The primary focus of this workshop will be in four
areas:
The technical element comes from the tools and applying them. The leadership element is inherent in the necessity for someone (you) to lead this effort. To be a High Road™ Leader, you need to become an agent for positive change. Implementing a Profit Leaks Prevention Program will demonstrate that you are a High Road Leader.
This format will definitely be challenging to you and your peers. However, by the end of this workshop, you will have significantly enhanced your ability to spot and eradicate profit leaks. The final step will be up to you. In order to retain this knowledge so that you can apply it in your firm, you will need to get started right away creating the momentum for the entire organization.
Workshop Roles
Notes:
Raelco is fictional and a composite of real organizations.
High Road and Plug Your Profit Leaks are registered trademarks of Ron Rael.
Introduction
Profit Leak Prevention requires you to connect the dots for others!
All too many business executives believe there are only two ways to boost profits: increase revenues or drastically cut costs.
That is only half correct!
Every company and every organization has Profit Leaks. And all those leakages of your profit go undetected!
Why? Because employees, managers, and executives do not know they exist. These Profit Leaks stay in the background, and everyone believes that they are a normal part of business.
In this innovative course I will give you specific areas where these Profit Leaks exist and the tools to prevent them. This course is basically a strategy to help you save time and money, both of which benefit the bottom-line, whatever you define that to be.
Warning! You cannot apply this strategy alone. You must enlist the assistance of every employee in your company to seek out and destroy (remove) profit leaks too!
Chapter 1
Step 1: Start with an Agreement on Leaking Profits
Energy, when focused, does incredible things.
Learning Objectives
After completing this chapter you should be able to
The main reason why employees do not care about or prevent profit leaks is because there is no consensus on what a profit leak is or looks like.
In the first part of your strategy, you will begin the journey of crafting a company-wide Profit Leaks Prevention Program (PLPP).
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