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Apr 2013 - Vol 8, Issue 5
Quick Links

InfoComm - Orlando - Next week! I really do want to see you there and if possible, spend a few minutes learning about your unique business. Shoot me an email and we can setup a time to chat. Otherwise I will see you at either the InfoComm Opening Reception on Tuesday, the R&S Forum/Reception on Wednesday, or one of my seminars on Thursday.

In this issue of AV Matters, I share a new video on KPI's. This concept is sorely lacking in many of the businesses that initially engage my services. Numbers matter - they tell an important and undeniable story. Companies that understand their metrics have a strategic advantage.

Speaking of numbers, I see that some of you have not yet purchased your copy of the R&S Business Metric Survey. That means you don't know which of your expenses place you at an advantage and which are holding you back. If you aren't sure how to use the information, then I am here to help. 


Thanks for Reading,
   
Tom Stimson
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BEST PRACTICES VIDEO
How well do you know your numbers? How can your financial data become a tool for running your business better? What will help your team better understand how they can help improve performance? It all starts by analyzing your data and choosing the metrics that matter most for your company. In this seven minute video, learn how to leverage KPI's for better performance.
 
PS- This is a great companion video to the R&S Business Metric Survey! 

Key Performance Indicators
Key Performance Indicators


Each Best Practices video will be added to my YouTube page and as inspiration permits, you may see additional video blogs from time to time. I hope you find the content helpful. -Tom
 
INFOCOMM 2013

05-07-2013 09:39:57 AM

At Infocomm on Thursday June 13th Tom Stimson CTS will teach two business track seminars, one each for Systems Integrators and Rental-Stagers. This year's theme is Business Strategy Trends in the Audiovisual Industry. Why Should I Attend? If you are interested in looking outside business as usual and discovering where innovation is happening, then [...]...»


RECENT ARTICLES 

05-22-2013 10:48:41 AM

Do you feel like you compete on price all the time? Do you wonder how other companies can make money at these prices? Does your team struggle with change?  You are not alone, but you can do something about it.  When I hear about companies that compete on price, I know that only one in ten [...] appeared first on The Stimson Group....»

 

05-15-2013 17:53:16 PM

A recurring theme in recent conversations with owners is the $5-6M/25-30 FTE stagnation point. This wouldn't be so bad, except this is the level at which profits really start to suffer. What do these Production Rental companies have in common? Here are my observations and how I help solve the problem. 1. One owner/manager can [...] appeared first on The Stimson Group....»

 

05-08-2013 11:14:07 AM

The 2012 Rental & Staging Business Metric Survey participants each earned an hour of free consulting with Tom Stimson to discuss the survey results and anything else on their minds. By reviewing the data together, we are able to discover ways to improve overall returns by identifying the key areas that need management's focus. Here [...] appeared first on The Stimson Group....»

 

05-07-2013 09:46:42 AM

Tom Stimson, consultant at The Stimson Group and head blogger at AVMatters.info talks about the decision criteria for assessing a rent or buy opportunity.  Rent or Buy? This is a decision consumers make everyday. Do I want to own a 300 pound roto-tiller that I will use once a year or should I rent one? If [...] appeared first on The Stimson Group....»

 

05-04-2013 11:41:04 AM

The Stimson Group of Dallas, TX announces the release of the 2012 Rental & Staging Business Metric Survey. The 44 page report reviews Profit and Loss statistics and key metrics from the Live Events and Rental Production segments for fiscal year 2012 with highlights on direct costs, overhead expenses, net profit, EBITDA, and capital budgets. [...] appeared first on The Stimson Group....»



ClosingThoughts CLOSING THOUGHTS

Here's a few scribbles from the margins: 

How much business do you lose by over-engineering solutions? What is your response when suppliers try to sell you something you don't think you need?

As an owner or manager, you need to have your numbers down cold. Do not delegate financial intelligence!

It is not enough to simply "train" salespeople. You need to design products, services, and processes that sell themselves.

See you next month, Tom  

 
About Thomas R. Stimson, MBA, CTS
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Tom Stimson consults with organizations to improve their performance through strategic planning, process improvement, and team development. The Stimson Group provides coaching and tools to companies in the Audiovisual Industry that enable them to define and reach their strategic goals.

Whether you serve the Rental/Staging market, the Systems' Integration market, or or provide blended services - The Stimson Group provides unparalleled expertise, industry insight, and methodologies that drive operational efficiencies and increase profitability. 

For more information visit the website.