In today's podcast I share the 5-step process that I use to assess our financial position, create our goals, and build a road map to success.

This process is designed to help you create timely, accurate, and complete financial statements so that you can make data-driven decisions in your beer business.

Key Topics

• How to create a process for predictable financial results
• How to build a plan that allows you to work ON your business not IN it
• One book you must read to build a better business plan, and one book you must read to build a better business

Resources

• Free mini-course: 5-Step Process Brewing Financial Excellence
• Free Craft Brewery Financial Newsletter

Key metrics measure the most important things in the brewery. Things like sales growth, margins, profits, and cash flow.

When identifying key metrics, the first step is to measure what matters.

Start with one problem you need to solve or one opportunity to take advantage of.

The next step is to build a dashboard of key metrics.

Identify one company goal, one KPI that is critical to watch, like cash flow. Then build up the KPIs for each department that support the company goal.

Key Topics

• How to use lagging indicators, leading indicators, process goals, and outcome goals
• Best practices in choosing key metrics
• Example scorecards, templates, and dashboards
• How to align compensation and KPIs

Resources

• Learn more about the Beer Business Finance Association

The average health insurance premium for families and individuals has increased more than 24% in the last five years, according to the Kaiser Family Foundation.

And there's no sign of this slowing down.

For breweries who want to provide good, affordable healthcare for employees these cost increases are a real problem.

One option to lower costs and provide better benefits comes in the form of self-funded health insurance.

Speaking from my own experience, self-funded health plans saved our company millions of dollars.

Yes. Millions.

What exactly is self-funded insurance? How does it work? How do I know if this will be right for my business?

You've got a lot of questions, and Erin Butler from BevCap management has answers. Listen to the podcast and check out the resources below to learn more.

Key Points

• 65% of covered workers in the U.S. have self-funded health insurance
• Self-funded insurance has been available in the U.S. since 1974, with the passage of the Employee Retirement Income Security Act (ERISA)
• Bottom line, self-funded insurance is not new nor limited to just a handful of large companies

Resources

• Watch the video of my interview with Erin and download the self-funded health insurance presentation deck
• Connect with Erin to learn more about how you can lower costs and provide superior health benefits, ebutler@bevcapmanagement.com