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In today's podcast I share the 5-step process that I use to assess our financial position, create our goals, and build a road map to success.
How to create a process for predictable financial resultsHow to build a plan that allows you to work ON your business not IN itOne book you must read to build a better business plan, and one book you must read to build a better business
This process is designed to help you create timely, accurate, and complete financial statements so that you can make data-driven decisions in your beer business.
Key TopicsResources
Free mini-course: 5-Step Process Brewing Financial ExcellenceFree Craft Brewery Financial Newsletter -
Key metrics measure the most important things in the brewery. Things like sales growth, margins, profits, and cash flow.
How to use lagging indicators, leading indicators, process goals, and outcome goalsBest practices in choosing key metricsExample scorecards, templates, and dashboardsHow to align compensation and KPIs
When identifying key metrics, the first step is to measure what matters.
Start with one problem you need to solve or one opportunity to take advantage of.
The next step is to build a dashboard of key metrics.
Identify one company goal, one KPI that is critical to watch, like cash flow. Then build up the KPIs for each department that support the company goal.
Key TopicsResources
Learn more about the Beer Business Finance Association -
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The average health insurance premium for families and individuals has increased more than 24% in the last five years, according to the Kaiser Family Foundation.
And there's no sign of this slowing down.
For breweries who want to provide good, affordable healthcare for employees these cost increases are a real problem.
One option to lower costs and provide better benefits comes in the form of self-funded health insurance.
Speaking from my own experience, self-funded health plans saved our company millions of dollars.
Yes. Millions.
What exactly is self-funded insurance? How does it work? How do I know if this will be right for my business?
You've got a lot of questions, and Erin Butler from BevCap management has answers. Listen to the podcast and check out the resources below to learn more.
Key Points
65% of covered workers in the U.S. have self-funded health insuranceSelf-funded insurance has been available in the U.S. since 1974, with the passage of the Employee Retirement Income Security Act (ERISA)Bottom line, self-funded insurance is not new nor limited to just a handful of large companiesResources
Watch the video of my interview with Erin and download the self-funded health insurance presentation deckConnect with Erin to learn more about how you can lower costs and provide superior health benefits, [email protected] -
In today's podcast we break down the key steps to build (and implement) a successful brewery financial plan.
Use the 6 building blocks to organize the planning processThe X Factor to financial planning success How to crowd source the best ways to grow sales and cut costsSimple and complex financial models to build your best plan
The financial plan is the road map. Where are you now? Where do you want to go? What does financial success look like?
Listen to the podcast. Download the resources. Build your best plan EVER today!
Key TakeawaysResources
Join our network of brewery owners and managers working together to build the best brewery financial plan EVER!Get the Brewery Financial Training Program included with your membership to the brewery network -
Tom DeMayo is a partner with PKF O'Connor Davies, specializes in cybersecurity, and is a self-described 'ethical hacker'.
Terms defined: Dark web, deep web, surface web, ransomwareHow hackers break in to your systems and what you can do to prevent thisBasics of compliance testing and risk assessmentTips for creating and managing those pesky login credentials The case for a cybersecurity committee
Cybercrime is a $10 trillion problem globally, and breweries are target.
In today's podcast, Tom shares how these crimes occur, how to find out if your brewery is vulnerable, and what steps you can take right now to prevent a ransomware attack.
Key PointsResources
Connect with Tom and learn how to protect your beer business from cybercrimes, [email protected] -
Today we welcome back Tim Near from Agrowgate, a company that works to save you money on cost of goods sold. Think cans, cardboard, malt, freight and so much more.
State of the industry: Trends in costs and commodity pricingBrewery purchasing 101: Best practices How to properly source key ingredients Keys to benchmark your costs against industry averages
Key PointsResources
Connect with Tim Near and learn more about how to save money Listen to the Brewery Supply Chain Management podcastJoin the brewery financial network - connect with other brewery owners to learn best practices to improve profits and cash flow -
In today's podcast we hear the audio version of a recent Brewery Financial Round Table meeting where we tackle brewery cost management and expense reduction.
Use this 1-2-3-4 step process to put a laser focus on cost cutting and reductionShare the Brewery Financial Training Program with your managers and staff – train them in the ways of identifying and reducing (or eliminating) bloated costsKey challenges we discussed: Controlling costs related to production and materials, freight and shipping, finding efficiencies, avoiding cost surprises, improving culture and communication78 Ideas to cut costs and improve financial results – Double Your Profits in 6 Months, by Bob FiferDan Klasen from the Beverage Federation shared details on the group purchasing organization (GPO) to help you save a ‘craft load’ of money
Summary of key points:Join the membership today and get instant access to the brewery financial round table replay, presentation deck, and brewery cost cutting resources.
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Today on the podcast we hear from Scott Birkner, VP and Business Lending Specialist at Dogwood State Bank.
How to finance a start-up brewery, buy an existing brewery, or make a partial acquisition using SBA loansState of the lending industry: Credit availability, interest rates, trendsWhat does the future of lending look like? Scott looks into his crystal ball and shares his observations
Scott shares insights on how to use SBA loans to purchase an existing brewery or make a partial acquisition of a brewery.
Key TopicsResources
Connect with Scott and learn more about brewery acquisition financing, [email protected] the Beer Business Finance Association - we talk brewery finances all the time! -
Today on the podcast we talk non-alcohol beer with Dave Williams from Bump Williams Consulting.
Major players in non-alcohol beer, sales volume, and growth trends NA beer sales by market channel: Chain and grocery, liquor, convenience, and on-premise accounts Retailer response to NA beer: More shelf space, more willingness to take on these brandsCrystal ball time. What does the future hold for NA beer? Listen in for Dave's full analysis
Dave shares data, insights, and analysis on the non-alcohol beer category.
Key TopicsResources
Connect with Dave Williams, [email protected] our financial network of brewery owners and managers -
Today on the podcast we hear from marketing guru Julie Rhodes from Not Your Hobby Marketing.
Julie and I talk about The Power of Marketing + Finance. And dig in on why NOW is the time to invest in your marketing and sales strategy.Key Topics:
Brewery marketing trends, new ideas to try, fundamental marketing tactics to revisitWhy NOW is the time to double down on your investment in sales and marketing (and where to find the cost savings to pay for this)When to add a sales rep (and how to pay them)Resources:
Connect with Julie Rhodes at Not Your Hobby MarketingLearn more about the Beer Business Finance Association, a network of brewery owners and managers focused on driving profits and cash flows -
Today on the podcast we hear from Ross Stensrud, co-founder of Tapwyse, a developer of custom branded apps for taproom breweries.
How to develop an app for your brewery to grow sales and create predictable recurring revenueBest practices to re-imagine the 'mug club' so you can add unlimited members The best incentives to get customers to download your app, use it to buy your offerings, and receive push messages to come back to your taproom more often
Ross shares his experience working in commercial fitness - where the business model is all about memberships and recurring revenue - and how this idea can be applied to your taproom to grow sales.
Key PointsResources
Get in touch with Ross and learn how to grow taproom sales with recurring revenue, [email protected] the Beer Business Finance Association, we are a group of brewery owners and managers, working together to grow sales and improve profitability -
Webinar Replay: How to Build Your Brewery Key Metrics Dashboard
In today's webinar I am joined by Alec Johnson from Ekos who shares his favorite KPIs and shows you how to build beautiful (and profitable) dashboards.
Here's what you'll get:
50+ key metrics used by other breweriesKPI best practices: How to pick the right numbers for your businessSample brewery KPI Scorecards and templates to downloadTips to build dashboards and KPIs in your brewery management softwareDo this next:
Watch the webinar replay: How to Build Your Brewery Key Metrics Dashboard and download the Presentation DeckJoin the Beer Business Finance membership. We are a network of brewery operators focused on driving profits and cash flows (and Key Metrics help us do that!) -
Today on the podcast we hear from Brian Deignan, founder of Validation Ale in Santa Barbara, California.
Lessons Brian learned starting his brewery and what he would do differently (how to use calendars and deadlines to keep the project on schedule)3 Big Ideas to grow sales and profits ("Steal the glass", "line price your beer", and "split test your draft lineup")Success secrets from the tech industry and how to successfully apply them to your brewery business
Validation ale's tagline is: "Allowing great beer to rise to the top. Your order is a vote toward Validation." The concept is to curate an evolving tap list based on customer orders and taste.
Validation uses data to drive decisions on what beers belong on tap. This approach gives customers what they want while maximizing beer sales on draft. A lovely combination.
Key TopicsResources
Connect with Brian at Validation AleLearn more about the brewery financial round table -
In today's podcast we'll cover the key drivers of brewery profitability, and give you specific action steps to follow to improve the bottom line in your business.
Key drivers of brewery profitsScorecards to measure and improve the bottom lineMost effective ways to cut costs, increase margins and grow salesHow to create a profit plan and profit routine
Key TopicsResources
Learn more about the brewery financial round tableWatch the video and get the financial templates: How to Drive Brewery Profitability -
On today's podcast you'll hear about a new project from A-Bay Engineers called the Craft Brewing Community Dashboard.
Many brewery owners and managers are looking for financial and operational benchmarking data, and this new dashboard could be just the thing.
Jamie Schild, CEO and Jim Oilschlager, COO share details on the community dashboard, what it is, how it works, and how breweries can use this information to make data-driven decisions.Key Topics
How to join the brewery community dashboardFavorite KPIs from Jamie and JimBenchmarking against your peers vs. brewery historical performanceResources
Sign up for the brewery community financial dashboardLearn more about the brewery financial round table -
Larry Chase is a certified Open Book Management Coach and teaches companies how to be financially transparent with all of their employees.
Top reasons why bonus plans fail...and how to avoid themBonus plan best practicesHow to use mini-games to create 'early wins'
In this podcast, Larry and I talk about brewery compensation and bonus plans. Larry shares what NOT to do, and best practices to follow if you are thinking about putting a bonus plan in place for managers or staff.
Key TopicsResources
Connect with Larry ChaseLearn more about the brewery financial round table -
Today on the podcast we hear from Chris Overlay, CEO of Get Hoptimized, a craft beer marketing and advertising agency.
How much to spend on brewery marketingThe marketing metrics that matter for craft breweriesHow to use 'funnels' to bring more customers into your taproom
Chris' company helps breweries and craft beer businesses grow with effective and affordable marketing services, from label designs, to social media ads, to strategizing world domination.
Key TopicsResources
Connect with Chris OverlayLearn more about the brewery finance network -
Today on the podcast I'm joined by Jack Kessler and Steven Welborn from Ohanafy - the only brewery and wholesaler software platform built on SalesForce.
Why it's crucial for beer producers to understand the financial intricacies of their business in today’s competitive marketInsights on how understanding financial metrics can directly impact the cash flow and profitability of a beer businesses The role of technology in optimizing revenue and finances within the beer industry Common financial challenges that beer distributors face, and how can they navigate through them effectivelyHow technology influences the operational efficiency and financial performance of breweries and distributors Advice to aspiring breweries and beer distributors who aim to enhance their understanding of the financial aspects of running a successful business
If you're interested in growing beer sales (and learning about the financial aspects of the beer business) this podcast is for you.
Key TopicsResources
Learn more about Ohanafy, or schedule a DemoJoin the network of brewery financial professionals - the Beer Business Finance Association -
If you're ready to get serious about improving brewery profits and cash flow, the Beer Business Finance Association is here for you.
Quarterly financial round-table meetings with beer industry peers24/7 online access to a library of brewery financial training coursesAccess to brewery workshops and webinarsBrewery planning templates, models and spreadsheets
The association is a network of brewery owners and managers who come together to share ideas and best practices to help run a financially successful beer business.
In today's podcast, I'll share why the network came to be, and how you can join and transform your brewery financial results.
Key PointsResources
Book a 15-minute discovery call Learn more about the benefits of the Beer Business Finance Association -
Today we talk variable compensation and incentives with Aaron Gore, Director of Partnerships and Community at Arryved.
99% of breweries in the U.S. see taproom operations as the biggest profit driverHow to align employee compensation and incentives with top brewery objectivesExamples and benchmarks to follow when setting up incentivesFirst steps to implement a variable comp plan in your brewery
Key PointsResources
Connect with Aaron Gore, [email protected] more about Arryved POS - もっと表示する
