Meeting Minutes:
Friday, June 8, 2007
Volume 14; Issue 20

  

Table of Contents

Committee Reports

Membership Report
 (Click here to go to the Membership page)

An online application was submitted by Roman Okonowski.

[membersonly/archives/applications/submitted_applications.htm]


Social Report
 (Click here to go to the Social Event page)

EVENT:  Jazz in the Garden
DATE:    June 15th
TIME:      7:30pm - 9:30pm
COST:   

Group Rate $12.00 per person with a group of 10 or more.
Otherwise: $14.00 per member; $20.00 non-members 

LOCATION:    Desert Botanical Garden - Ullman Terrace
1201 N. Galvin Pkwy, Phoenix
DESCRIPTION: 

Deadline to sign up...June 11, 2007
Meals are available if ordered in advance for $20.00 at www.fabulousfoods.com.  A menu is listed on the web
Drinks are available her purchase at the time of the concert.
Must be 21 years old+


Speaker Coordinator Report
(Click here to go to the Speaker Schedule)

Next meeting:  Special Program, cont.  The group will expand on marketing ideas.


Treasurer Report

3rd quarter dues invoices were e-mailed on the 1st.  Note that the dues increase of $200 per quarter goes into affect this billing cycle.  If you did not receive yours please contact Melissa Matthews.

Leads Report

47-40, 09-21, 18-21, 37-32, 37-21, 13-30, 30-13, 30-41, 03-21, 21-28, 07-46, 17-05, 16-41, 19-41, 51-28, 28-21, 28-05, 28-17, 52-41.

This week's leads focus...

  • Greg Stewart
  • Dave Spiess  
  • Lin Schmelzer

Notable Mentions

Lin Schmelzer is working on a new logo for MABE.  We are currently in stage 1 where several ideas were submitted to the board.   For stage 2 the board will narrow down the options and then suggest any changes to be made.

The board voted to increase the Sunshine Committee gift amount.

Remember there is no meeting on July 6th. Enjoy your 4th of July holiday. 

Question of the Day 

Business Ratios: Do you use them?

Ratios are used to determine a number of different things.  For example:

  1. Gross Profit Margin
  2. Breakeven Volume
  3. Days in Accounts Receivable

Some owners look at about 3-5 Key ratios on a regular basis.  They tend to be the ones on top of their business.  But what you look at and how often will vary greatly from business to business.

Mark Dreher has software (RMA) that will analyze client data.  Dunn & Bradstreet puts out a book that explains the baselines and how to use the data as Mark described. You can subscribe to D&B or RMA and get analytical data on a regular basis. 

As Greg Stewart stated, red flags could appear six months before you go out of business.  It is so important  to monitor those numbers regularly.

Mark used a client - a dentist - as an example.  He knows when he sees one of his key ratios hit 20%  that he should hire another employee.  This particular ratios flags him that they are too busy for the number of staff that they have.

Greg suggested the group monitor a "dummy" company and see how they do.  Many agreed that this was a good idea.

Everyone should think about the following question...What are the top 3 ratios that you look at?  (or "should" look at)

Main Speaker 

[delete/bios/other/questionofday.htm]

Members were asked to briefly mention the top item on how they get business...

  • Referrals (clients, vendors, bankers, doctors, etc.)
  • Competition
  • Repeat Business  
  • Shopper
  • Home Shows
  • Visibility - Location

Tip: It is important to segment your referrals

Greg Stewart has observed that consumer confidence is low and so they don't spend money on discretionary items.  Marketing that used to work in the past doesn't work anymore.

The group will expand on this topic next week.  Think about it and come prepared to offer your insight.

 

 
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