Know Your Numbers: Part One Delivered on behalf of: Presented by - - PowerPoint PPT Presentation

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Dec 06, 2022 236 likes •455 views

BUSINESS FUTURE PROOF SERIES Know Your Numbers: Part One Delivered on behalf of: Presented by BEN LEVER LETS BREAK IT DOWN Today we will discuss: GETTING TO 1. How data helps you to answer questions KNOW about all aspects of your

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Know Your Numbers: Part One

Presented by

BEN LEVER

BUSINESS FUTURE PROOF SERIES

Delivered on behalf of:

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LET’S BREAK IT DOWN

Today we will discuss: 1. How data helps you to answer questions about all aspects of your business to make more money 2. Using data for looking backwards and looking forward 3. How spreadsheets can be used for modelling data and forecasting

GETTING TO KNOW YOUR NUMBERS

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DATA HELPS YOU TO ANSWER QUESTIONS ABOUT MANY ASPECTS OF YOUR BUSINESS

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Image credit: Big Kiss Travel

DATA IS RELEVANT THROUGH OUT ALL PARTS OF YOUR BUSINESS

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Image credit: Big Kiss Travel

FINANCIAL QUESTIONS

BUSINESS VIABILITY

How much money did I make last

year?

Why did I lose money last year?
Can I afford to hire new staff

members?

Should I raise my prices?

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Image credit: Big Kiss Travel

OPERATIONAL QUESTIONS

BUSINESS FEASIBILITY

Do I have too many staff?
Do I have too few staff?
What if we were more efficient?
How often are we using an asset?
How much inventory do I waste?

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Image credit: Big Kiss Travel

CUSTOMER QUESTIONS

BUSINESS DESIRABILITY

Who are my actual customers?
Am I reaching my customers?
Do my services resonate with my

customers?

What if I attracted different types of

customers during the week?

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HOW CAN YOU USE DATA TO ANSWER THESE QUESTIONS?

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ANSWERING QUESTION ABOUT THE PAST

LOOKING BACKWARDS

How much money did I make last year?
How much inventory do I waste?
Who are my actual customers?

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CAPTURE DATA ANALYSE Looking Backwards

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TOOLS FOR CAPTURING AND ANALYSING DATA

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ANSWERING QUESTION ABOUT THE FUTURE

LOOKING FORWARD

Can I afford to hire new staff members?
What if we were more efficient?
What if I attracted different types of

customers during the week?

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CAPTURE DATA ANALYSE MODEL DATA FORECAST Looking Backwards Looking Forward

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CAPTURE DATA ANALYSE MODEL DATA FORECAST Looking Forward Looking Backwards

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THE TOOL FOR MODELLING AND FORECASTING

Google Sheets Microsoft Excel Apple Numbers

THE HUMBLE SPREADSHEET

General purpose tool
“Digital back-of-envelope”
Allows for varying degrees of complexity
Widely available and shareable
Lots of resources

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SPREADSHEET EXAMPLES

Income/expense forecast
3 business types:

○ Food and Beverage Retailer ○ Accommodation Provider ○ Service Provider

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CLIMBING THE LADDER

Capture data Analyse data Model and forecast Capture more data Explore the broader business

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But remember ...

THE MAP IS NOT THE TERRITORY

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LET’S RECAP

Data helps you to answer questions about many aspects of

your business.

We can use data to: look backwards and look forward.
Spreadsheets are a powerful general purpose tool for

modelling data and forecasting.

Start simple before getting complicated.

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RESOURCES & TOOLS

HOW TO GUIDE: KNOW YOUR NUMBERS VIDEO RECORDING PRESENTATION SLIDES F&B RETAILER SPREADSHEET ACCOMMODATION PROVIDER SPREADSHEET SERVICE PROVIDER SPREADSHEET

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Ben Lever

P - 0408 533 801 E - ben@sparrowly.com W - sparrowly.com Check out our next webinar KNOW YOUR NUMBERS: PART TWO

n Wednesday 23 September at 11:30am.