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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

KPI (Key Performance Indicators) Drive Growth


Drive growth and profits with a defined company culture
Drive Growth and Profits with a Defined Company Culture

George HinesGeorge’s Music, Inc.





Research

Owners – Sales - Administrative


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


Kpi other income
KPI – Other Income

Track Results


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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