June 2019 Lunch and Learn: Benchmarking your business

by Ladd Roberts

Business Bank of Texas

Ladd Roberts is Senior Vice President of Business Bank of Texas, N.A. With over 30 years experience in the banking industry, Ladd brings a wealth of knowledge and experience to the bank. For the past 24 years he has served as a small business lender / account manager for several San Antonio area banks. Ladd has a reputation for being a hard working lending officer focused on his customer’s needs. Ladd is active in the community and has served as president of the San Antonio Risk Management Association (RMA), the San Antonio Breakfast Club and a local Rotary Club. He received a B.S degree from Texas A&M (1976), MBA from University of Texas – San Antonio (2002), and attended the prestigious Southwestern Graduate School of Banking at SMU (1991).

While business owners in all industries have different objectives and visions for their companies, nearly all of them share one common goal: to grow their businesses and see them become more profitable.

But as the saying goes, a goal without a plan is just a wish

In fact, a business owner who isn’t sure how to plan and measure growth is building his or her business on shaky ground. In order to see steady growth, business owners need to create a plan and monitor their progress toward their goals. That's where benchmarking comes in.

Topics: benchmarking

3 Ways Your Banker Should Be Advising Your Business

by Ed Lette

Business Bank of Texas

Ed Lette is a Founder of Business Bank of Texas. Serving as a licensed CPA since 1983, Ed’s extensive experience in the banking industry has led him to become the founding president of four national bank charters including Business Bank of Texas, N.A., and the chief financial officer of five national banks during his 45 year career. Ed serves as director of the Texas Bankers Association District 4, chairman of the Executive Advisory Council to the School of Business at Texas Lutheran University, and is a life member of the Texas Association of Business.

As a business owner, there are many close working relationships you have to maintain. Some of these people you likely talk to on a daily or weekly basis. These are the people who help you get your job done, such as your employees, suppliers, manufacturers, etc.

But there are also some important business relationships you have with people who you only talk to monthly, quarterly, or annually. These are the specialists and experts you rely on to advise you about making your business run smoothly, such as your accountant, legal counsel, and other consultants. You may not interact with these people often, but it’s important to know that they’re available with trustworthy guidance when you need it.

Topics: benchmarking

Benchmarking: It’s All About Improving Profitability and Cash Flow

by Philip Campbell

Consultant, Author

Philip Campbell is a CPA, consultant, and author of the book A Quick Start Guide to Financial Forecasting: Discover the Secret to Driving Growth, Profitability, and Cash Flow Higher. This new book provides a straightforward, easy-to-understand guide to one of the most powerful financial tools in business: a reliable financial forecast. He is also the author of the book Never Run Out of Cash: The 10 Cash Flow Rules You Can’t Afford to Ignore. The book is a step-by-step guide for business owners and managers who want to better understand and manage their cash flow. Since 1990, Philip has served as a financial officer in a number of growing companies with revenues ranging from $5,000,000 million to over $1,000,000,000. He has been involved in the acquisition or sale of 33 companies (and counting) as well as an IPO on the New York Stock Exchange. Philip loves helping entrepreneurs and business owners think strategically about the financial side of their business. His consulting work is focused on providing the financial insights that leaders need to increase profits, improve cash flow, and enjoy the fruits of financial success in business. What really sets Philip apart from the average financial person you meet is his passion and excitement about helping entrepreneurs and CEOs take control of their cash flow. In fact, early on in his career, he focused and “preached” so much about the importance of cash flow that people now call him CASH. Philip is the founder of Financial Rhythm, a website devoted to people who are serious about creating financial health, wealth, and freedom in their business. If you're an entrepreneur or business owner, Financial Rhythm is a place to get simple, actionable strategies for creating a financial future that is bigger and brighter than your past. Philip lives in Austin, Texas. You can email Philip at pcampbell@pdq.net.

The purpose of benchmarking your financial performance is to find opportunities to improve your profitability and cash flow. The process of benchmarking is to compare your results on certain key performance measures against your past results and/or the results of other companies like yours so you can identify opportunities for improvement.

Topics: benchmarking

Internal benchmarking: how to monitor the health of your business

by Dwayne Kolly

Business Bank of Texas

Dwayne Kolly brings a wealth of financial management and operations experience to Business Bank of Texas. Kolly has served community banks in south and central Texas for nearly 30 years, and is the bank’s CEO and Chief Financial Officer. He is a graduate of the Southwestern Graduate School of Banking at SMU (1993).

As a small business owner, you may be too busy with an endless list of daily tasks to spend much time staring at numbers. Or maybe it’s just that while you enjoy the actual work you do, you dread the accounting activities necessary to keep your business running. Whatever the reason, many business owners dread and put off the important work of examining their business’s financial health.

While it’s understandable that frequent deep dives into the nitty gritty of your business’s finances might not be your favorite task, it’s incredibly important to regularly take stock of how well your business is doing. Sustainable growth requires the ability to understand and articulate your financial history, current standing, goals, and strategies.

Topics: benchmarking