Cocktails and Success Stories Business Meeting Review
Kim Dovell was great on Tuesday, she came armed with handouts, success stories and case studies that added a touch of realism to the night. Kim talked about the Working capital time line and she gave examples of how vital mastering this concept is to businesses either in construction, products or even as service providers.
Kim discussed the issue of profitability, owners knowing what drives their sales and the costs associated with gaining more sales. Her handout went on to explore measuring and tracking gross margin by product line, identifying variable and fixed costs before embarking on the subjects of cashflow and liquidity. As we listened we forgot about sampling cocktails for the evening.
Her main advice was to calculate your capital timeline and don’t just focus on your profit and lost but remember that the balance sheet and cashflow are also important.
The buzz words were, “growth trajectory”, “Track the pipeline of the business so that you can resource it better” and “Changing the business model”. Fiona Latter from Fit for Legacy talked about “Ready to Supply the City” scheme which will be open to East London businesses in the new year
The food we chose looked and tasted good, thank goodness Pearson Room staff were attentive and nice making the whole evening enjoyable and less of a business meeting.
In attendance were Maria Zoutsou, the Self-Esteem Scientist, Eliza Jones -CEO and Founder of Chosan (she produces Wonjo, a traditional West African hibiscus drink), Renee Brawley, CEO of Fraser Bakery and Fiona Latter, Client Relationship Manager of Fit for Legacy who happen to know of Maria Zoutsou’s work: small world.
Unfortunately some members had to withdraw at the last minute because of course it is half term, children and family definitely come first under these circumstances.
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