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NAMM Presentation. KPI (Key Performance Indicators) Drive Growth. Drive Growth and Profits with a Defined Company Culture. George Hines George’s Music, Inc. Interior Photo. Interior Photo. Interior Photos. Research Owners – Sales - Administrative. Universal Laws:

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namm presentation
NAMM Presentation

KPI (Key Performance Indicators) Drive Growth

slide6

Research

Owners – Sales - Administrative

slide7

Universal Laws:

“Law of Expectation”

You get what you expect

which do you prefer
Which do you prefer?

$1,000 $10,000

$100,000 +

new economy do more with less
New Economy “Do More with Less”

Problems:

  • Economic Recession
  • High Unemployment
  • Increased Costs
  • More Competition
  • Consumer Demands
  • Profit Pressures from Internet
  • Others?
solution
Solution

GET CLARITY – KNOW WHAT YOU WANT

Use KPI To Create

1. Accountability

2. Establish Action Plans

3. Measure Progress

kpi to drive sales
KPI – To Drive Sales

SALES: - Set Specific Goals for:

1. PPD – People per day

2. TPD – Trans. per day

3. Conversion % PPD/TPD

4. Items per Sale

5. Avg $ per transaction

6. Gross Sales

7. Gross Margin %

kpi operations
KPI - Operations

OPERATIONS:

1. Inventory B.O H.

2. R.O.I. – Total Inventory

3. SQI score – Service Quality Indicator

4. COGS - Cost of Goods Sold

5. Sales per S.F. (10,000 s.f.)

6. Gross Sales

7. Gross Margin $

kpi customer service
KPI – Customer Service

CUSTOMER SERVICE

1. Mystery shop scores – min 85%

2. Mystery phone shops – min 90%

3. Customer on line reviews – min 4 stars

4. Vip Contacts

5. Events in stores – goal attendence

6. Staff Training Sessions

kpi finance department
KPI – Finance Department

Control Cash and Maintain Profitability

kpi finance
KPI - Finance
  • Finance:

1. Inventory Turnover

2. Gross Margin % or $

3. Profit or Net Income Before Tax % or $

4. Current Ratio – Assets to Liabilities

5. ROA - Return on Assets

6. GMROI

7. Operation costs as % of sales

8. “Other” income in $

if it s written it s real
“If It’s Written It’s Real”

Use “KPI” to Drive Growth:

  • Create Accountability
  • Establish Goals & Actions
  • Measure Progress
thank you a defined company culture
Thank You!a Defined Company Culture

George Hines - President George’s Music, Inc.

[email protected]

streams of income

Streams of Income

Increase Profits

streams of income1
Streams of Income

Fast Pay Discounts

  • Current Programs –
  • Future Programs
  • Credit Card Opportunities
  • One Time Events
streams of income2
Streams of Income

Co-op Programs

  • Strategy –
  • Catalog or Buyers Guide
  • Online Sponsorship
  • Events
  • Promotions
streams of income3
Streams of Income

Rebate Programs

  • Current Programs
  • Future Programs
      • Annual
      • Quarterly
streams of income4
Streams of Income

Registration and

Processing Fees

  • Lesson Registration
  • Repair Paperwork Fee
  • Band Instrument Processing Fee
streams of income5
Streams of Income

Warranty & Extended

Service Agreements

  • Replacement Plans - Internal vs. External
  • Band Instrument or Rental
  • Threshold Discussion
streams of income6
Streams of Income

Freight Negotiations

  • Vendor Related
  • UPS – FedEX
  • Music Freight
streams of income7
Streams of Income

In-Store Paid Events

  • ‘Home Grown’ Events
    • Guitar Repair
    • Uke Classes
    • Home Recording
streams of income8
Streams of Income

Others

  • Lease Negotiations
  • Upgrade Items
  • Bin Items
  • Investment Income
  • Assorted Discounts – Printing, Check Guarantee, Office Supplies, CC, Airline
thank you a defined company culture1
Thank You!a Defined Company Culture

George Hines - President George’s Music, Inc.

[email protected]

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