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寒いのは人間だけじゃない!暖をとるのに必死な動物たち【癒される】 - Duration: 4:03.
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Top Five Key Performance Indicators That Business Owners Must Track - Duration: 8:32.
Top Five KPI's ALL SME's Must Track
Feedback is the breakfast for champions. You wouldn't drive a vehicle that doesn't
have a dashboard to give you the vital information you need. Why would you try to run a business
blind?
Today we're counting down the top five key performance indicators that you MUST track
if you're the owner or leader of an enterprise.
But before we start, let me offer you our 11 minute business diagnosis quiz. Take this
quiz right now by clicking on the first link in the description below to find out how future
proof and stable your business is going to be over the next decade.
Number five. Income Statement and Balance Sheet
Often the most overlooked factors are the simplest. Income statement and balance sheets
are the most fundamental financial tools you have as a business leader to grow your enterprise.
Why? Because this is the first thing anyone will want to see before they give you money
to grow.
An income statement tells a lender how much debt you already have the capacity to service…
with your existing profits. A balance sheet gives an overview of your business' stability
based on the existing assets and liabilities you have.
Anyone serious about growing their business MUST have an eye on their income statement
and balance sheet at all times. In fact, if you're serious about wealth accumulation,
you'll want to keep an hawkish eye on your personal income statement and balance sheet
too.
Number Four. Inventory Turnover
Inventory turnover period is the number of days it takes from your purchasing inventory
to liquidating it. Whether you follow a FIFO (which is First In, First Out) model of inventory
management or the FILO (which is First In Last Out) model, you need to minimize your
inventory turnover period.
Why?
Well, firstly, you want to keep your inventory to a minimum while ensuring you always have
enough stock on hand that operations aren't hampered. This reduces your warehousing requirements,
as well as other costs associating with managing inventory, like insurance. Obviously, you
will end up paying a higher premium to insure a greater amount of inventory.
Secondly, and this is a sneaky little secret I'm letting out. When we acquire a company,
we look for companies with a a high amount of inventory. Obviously, this only applies
when inventory has a sufficiently large shelf-life. Why? Because firstly, we can use inventory
to leverage the buyout. Non-perishable inventory can be used as a collateral for lenders to
finance part of the acquisition.
And secondly, more importantly, post-acquisition, the simplest way to boost cashflow is to lower
the inventory turnover period.
In other words, you can boost your cashflow by simply minimizing the inventory turnover
period. Exactly how that works mathematically is beyond the scope of the topic we're discussing
today. But we will talk about it some other day.
If you have a larger corporation with dozens of products, you'll even want to track inventory
turnover period for individual items, or blocks of items.
By the way, here at Westernston, we work with our clients to not only track these KPI's,
but also optimize them. If you'd like to discuss how we can help, click on the second
link in the description below, and contact us. We'd be happy to offer a complimentary
consultation to qualifying businesses to explain how it all works.
Moving on…
Number three. Marketing Breakeven Period
We recently discussed all about the marketing breakeven period. You can watch that video
by clicking here.
But basically, marketing breakeven period is the amount of time it takes for you to
gain as much profit from newly acquired clients as the campaign itself cost.
In other words, if you spend ten thousand dollars on a campaign today, how long will
it be before the newly acquired clients bring in ten-thousand dollars in bottomline, not
topline. Depending upon what your profit margin is like, ten-thousand dollars in bottomline
could mean anything between ten thousand and two hundred thousand dollars in topline sales.
The faster you breakeven on your marketing, the quicker your business grows.
Your effective marketing budget is your deployed marketing budget multiplied by the number
of breakeven cycles in one year.
For instance, if you deploy ten thousand dollars for a marketing campaign, and it takes six
months for you to receive enough profit from the new clients acquired through this campaign…
your effective marketing budget for this client acquisition method is only twenty thousand
dollars, since you can only run it twice.
But if the same campaign had a marketing breakeven period of one month, you would be able to
run it a dozen times, and your effective marketing budget would be one hundred and twenty thousand
dollars.
Marketing breakeven period is something almost no small or medium business leader tracks
as deeply as they should. If you want to witness exponential growth in your business, however,
you MUST track your marketing breakeven period.
KPI Number 2. Top 20%, 5% and 1% Clients by Revenue & Profit
Not all clients are equal. We have discussed this before in another video that you can
watcy by clicking on the card here. But basically, it's the 80/20 principle, compounded.
So you know that 80% of your revenue or profits come from the top 20% of your clients. But
even among those top 20%, the 80/20 rule applies again.
So of those top 20% clients, the topmost 20% bring in 80% of all the revenue. In other
words, the topmost 4% of your clients are likely to bring in 64% of all your revenue.
And this can be further compounded.
So less than 1% of your very best clients are likely to bring in over 50% of your revenue.
So as far as key performance indicators go, you don't just want to track the average
revenue per client because that's a rather meaningless metric. What's far more important
is the average revenue or profit that is generated by your top 20% clients, your top 5% clients
and the topmost 1% of your clients.
Are you already tracking this KPI?
And finally, we're down to the number one. Cashflow.
Cashflow to business is literally what blood is to body.
Without cash, it's game over. No matter how profitable you are. Cashflow is survival.
Now, cashflow is misunderstood sometimes. So allow me to explain that cashflow is NOT
gross profit. Cashflow is not EBITDA (or Earnings before Interest, Taxes, Depcreciation and
Amortization) either. Cashflow isn't even PAT (or profit after taxes).
Cashflow is much better understood as simply an account of actual cash inflows and outflows.
In other words, the money you have in your account right now.
Speaking of accounts, by the way, check out our video on the finance management framework.
It's a simple framework for business owners to have total control and clear visibility
of their cash inflows and outflows.
That brings us to the conclusion of this video. At Westernston, we work with a small number
of qualified businesses to help them not only track these KPI's, but also optimize each
of them. If you'd like to explore the possibility of working together with Westernston, get
in touch with us by clicking on the second link in the description below, and we'll
get back to you.
Thanks for watching this video. Hit like if you gained one or more important insights
from watching this, and share it with your colleagues, associates and friends who might
benefit from it. And make sure to subscribe and hit that bell icon to be notified everytime
we put out a new video.
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From School to Professional Life | Marshell - Duration: 11:02.
After my graduation, I was confronted with the following statement:
"Well, son, you've got your degree now"
"It's time for you to find some work...
and get out of my apartment."
"Okay, bye-bye."
I am a young adult, but I've been through a lot of application procedures so far.
One more interesting than the other....
and maybe you can take something out of my experience.
At school we had career orientation seminars hosted by teachers and people from the employment agency
who wanted to provide us with useful tips and tricks
In spite of the Internet age, I was taught to always submit applications personally and in paper form
so that you stand out from the crowd and make a first good impression.
When I applied for an apprenticeship during my school years the following scenario occurred
"Good day, my name is Marshell"
"I'd like to hand in my application to the HR manager."
"The boss doesn't have time right now. Lay it down, then I'll pass it on, Mitschell."
"Marshell!"
"Oh, yes. Michel!"
"A guy named Michael handed in his application papers."
"You know what to do with that"
Large companies in particular did not pay very expensive licences for online application platforms for nothing
just so that suddenly hundreds of people could submit their stuff in paper form.
So I was taught many more myths, which today are not true anymore.
Personally, I also found the job interviews not very helpful.
Even as a teenager I already had skills that would have fit for different professions.
"Hello! My name is Marshell Darfes. 2+2=4-1=3. Quick maths."
However, the experts' assessment gave me a completely different picture.
"What would you like to do, Marshell?"
"Well, I'm good at presenting things to people."
"I am quite organized and creative."
"And I find the new media very exciting."
"Something in that direction?"
"Maybe psychology?"
"Yes, you COULD do that."
"Or... how about..."
"I've got my mind's eye on what fits you."
"How about... "
"training as a woodworking specialist."
After school I started my professional life without any knowledge or orientation.
Plus, I needed money, so it was time to get a job.
And here I've really noticed a fascinating pattern.
Invitations, which were looking for career starters
but which required 20 years of professional experience from the required subject.
So it is expected that you have gathered knowledge as soon as possible.
No! Earlier!
No! Earlier!
Yeah, that works.
My mother was a long-time regular customer in a video store and the boss mentioned that he was looking for an assistant.
I should drop by personally and give him my resume.
One big question came up for me.
What do you write on a resume like that?
What did I actually achieve after school?
Who am I?
What makes me different?
What am I striving for?
I was supposed to write a resume
and got into an existential crisis.
My records were total junk.
The boss maybe looked at that thing for 5 seconds
and put me behind the counter.
"Your mother recommended you, so show me what you can do."
And so I was hired.
Because I knew someone who knew someone.
This vitamin B enables many career steps
- even if you are absolutely unsuitable for a job.
Because I didn't really know anything about film culture.
"Can you recommend any movies to me?"
"I like Disney and Studio Ghibli movies!"
"And what else?"
"Ehhhhhhh..............................."
"Every movie that Tom Hanks plays in is brilliant!"
"Which film, exactly?"
"Ehhhhhhh..............................."
So while I was working, I applied for any kind of job and dual studies all over Germany
legal administration, public management, police, officer training, software development and many more
At the beginning I was often not even invited, which is why I improved my documents constantly
in order to win the interest of the allegedly busy personnel managers.
I'll tell you later how to prepare my application.
While small companies were always interested in interviewing me directly
I had to go through an assesment center test with medium and large companies.
That's the gnarled word for competitions.
In the civil service, this selection procedure enquired about linguistic understanding
basic mathematical knowledge and general political knowledge.
"Sorry! Can you give me the name of the current Chancellor of Germany?"
"Ehh, you wanna fool me mate?!"
"Hitler? Can that be?"
The police and the army also had sports tests and four eyes talked to a psychologist.
"So Marshell, let's talk about your Google search history."
But in the end, almost every selection procedure led to today's nightmare of the Internet generation
dictates
Please write it down:
She was Faust's daughter.
He smiled at her and looked forward to seeing her again.
He was of charming nature.
"That's pretty easy, Diggi."
"She waz da dagther of Faust, he kekd @thot amk kappa."
"#swag gentleman"
In companies, intelligence tests or team tests were often used to determine skill.
One of the most interesting selection procedures I had with a large advertising company for a dual study course.
The applicants were divided into three groups
and each group was to build a large tower from paper plus adhesive tape.
The group with the largest tower won.
Ultimately, however, HR managers were only interested in who played which roles in this game.
I convinced the group of my construction idea and in the end we even had the biggest.
In the following one-on-one interview, I got to hear the following words:
"You're not qualified for the job you're looking for, Marshell."
"With your set of skills you'd be bored in this job pretty early"
"But we had the biggest!"
"Hehe"
In the end I was:
DENIED
For an apprenticeship at an administrative office, I was once asked
to create and present a powerpoint about my life's successes.
What I did...
was to start with photos of how I first drew a picture in kindergarten.
Or the first time I went to the bathroom alone.
Which created a really pleasant atmosphere.
In the end, I was:
ACCEPTED
For an apprenticeship at a technology company, I was given a puzzle task during the interview:
A man put his car in a hotel and lost his fortune.
What's happening?
I got 10 minutes and had to explain my decision live.
Can you find the right answer?
Then pause the video and write it in the comments
Now comes the resolution.
He had played Monopoly.
My answer was
He jumped drunk over a ramp and was sued for damages.
In the end I was
DENIED
I had very special experiences with companies from Franconia and Lower Germany.
Because of the distance I was invited to telephone interviews.
The problem, I didn't know the required foreign language.
[ringtone]
Yes, hello?
[strong dialect] "Gruetzele Mr. Marshell, am pleased to talk to ya!"
"Ehm. Can we do this interview in German?"
DENIED
Eventually I got some assurances, as well as innumerable cancellations.
And let me tell you, don't take cancellations too personally.
A small pinch of luck is part of many application procedures.
I must also say that companies really do have a duty here
to improve the feedback culture towards applicants.
"Dear candidate. We regret to inform you that we cannot take you. Don't regard this as a rejection of your skills"
So, but why?
I received such ready-made answers all the time.
There is now way you can improve anything as a candidate.
Sometimes I couldn't get rid of the feeling
that I often only got a commitment if I had some sympathy with the HR manager during the interview
regardless of my skills or the results of the assessment center.
So Marshell, these results say you can at least breathe.
Yeah, think about it.
If you don't breathe, you can't do that training.
So the more you breathe, the better you are. Right?
"Well, he has a point there"
This always gave it the mark of a pure arbitrariness.
Very rarely one could comprehend what went well or badly.
In the end, it wasn't the right thing for me, which is why I refused every offer.
However, while I was going through the application process
In the evenings I was always tutoring a small group of students
which made me realize:
"Hey"
"Maybe being a teacher is not so bad after all?"
But there was still a problem
"Hey, there is my son!"
"Didn't I tell you to leave?"
"Okay, bye!"
In order to get money for my studies
I applied to several industrial companies as a conveyor belt and holiday helper.
For this I searched for large production companies in my area
and registered online as a candidate for the holiday help.
Here, practically everyone was taken who was ready for shift work and wrote a well-founded motivation letter.
Then the hard work began.
Over half a year three shift system with 8-9 working hours a day
repetitive activities, little sunlight and absolute obedience to shift supervisors.
My earnings as an unskilled worker varied between 10-16€/h
which was a lot of money for me as a boy from poorer circumstances.
But above all, I learned to respect what physically hard work meant
and how psychologically gruelling it can be.
Especially when I went home at four in the morning after a night shift
I sometimes had to struggle not to fall asleep on the highway.
At this point, great respect to all parents
who force themselves through such work out of a sense of responsibility for their family.
If you don't have any orientation after school
please apply for a few months on construction or for industrial work.
I learned to appreciate every single euro I earned
and it also strengthened my teacher's professional aspirations
because it was also through this work that I learned what I definitely did not want to do in the future.
In my spare time I was able to do various activities:
Theatre, video production, tutoring.
So many sides always put a lot of pressure on me to start an apprenticeship or study directly after school
but the support for this path was hardly given.
At first I went to work in different areas and got to know myself better
and now I am all the more satisfied with my choice of studies.
and after I made it to some small local fame thanks to you
the best community in the world
a company contacted me years later because they want to work with me
even though they rejected to train me back then
A rogue who thinks evil.
Have you already decided on a career path?
And what was your application experience so far?
Do you have any interesting stories?
Then write it down in the comments!
If you are interested in how I design my application documents
Click here
And I heard that if you click on this button here
You have built the biggest one
Your Marshell
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لما تكون لوحدك في البيت - يسري اشرف - Duration: 4:51.
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Taylor Swift Lifestyle, Net Worth, Family, Kids, House and Cars // STARS STORY - Duration: 4:54.
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龙珠超124集官方图文情报:悟饭陷入危机,起死回生的策略是? - Duration: 2:32.
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Welsh Corgi Pembroke | Topi The WelshCorgi | Lam nhi | Welsh Corgi Pembroke Charmant Part 135 - Duration: 3:28.
Hello
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Rev Augustin Louis - Faith Warfare - Duration: 1:56:22.
For more infomation >> Rev Augustin Louis - Faith Warfare - Duration: 1:56:22. -------------------------------------------
Day 14: CSI RHINO - Duration: 1:00.
Hey guys! And welcome to Goodness!
Today's Goodness! is about how forensic
science is being used to catch rhino poachers.
like CSI!
The number of rhinos being poached for
their horns has been steadily rising.
From 13 in 2007 to
over 1200 in 2014.
One of the big problems with catching these poachers was
to prosecute them as guilty.
But not anymore!
Thanks to forensic scientists
who created a genetic database called RHODIS.
These scientists have collected DNA from over 20,000 rhinos so far!
And are training Park Rangers to gather DNA samples
from any poached rhinos found.
This way, any horns found with the
poacher can be linked back to a specific rhino for evidence,
and these poachers can be stopped.
Since RHODIS, there have been over 9 cases of convictions!
Including a man who was sentenced to 9 years in jail
for rhino blood that was found on his carpet,
and another man who was sentenced to 29 years in jail
when found with rhino horns.
So thank you to all you amazing scientists who created RHODIS!
And that's today's Goodness!
See you tomorrow!
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DEAR CREATIVITY - Duration: 4:07.
For more infomation >> DEAR CREATIVITY - Duration: 4:07. -------------------------------------------
These New Faces Are Going To Make Debut In Bollywood In 2018 - Duration: 5:05.
These New Faces Are Going To Make Debut In Bollywood In 2018
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