Signs of the Times - July 2017 - 18
AT LARGE
DAREK
JOHNSON
FAST(ER) MONEY
is ST's Editor-at-Large.
Email him at darek.johnson
@stmediagroup.com.
PHOTOS BY DAREK JOHNSON
It's not how fast you make money; it's how well you
make money fast.
"Transforming a revenue culture into
a profit culture is no small task. All
functions, from sales to marketing to
operations - must join in the effort.
But once your firm's processes and
metrics are based on an integral
perspective, you'll be one step closer
to a simpler and more profitable
business."
-HBR Guide to Finance Basics
for Managers
Harvard Business Review Press
UCH of a successful business practice involves pastdue collections, but not
the cash conversion cycle;
that is, how soon you get your shop's
money - the working capital spent
for materials - back into your bank.
Harvard Business Review (HBR) writers Karen Berman and Joe Knight, in
their book Financial Intelligence for
IT Professionals, offer advice on the
cash conversion cycle, the amount of
time occurring between the manufacturing and collection cycles.
Their principle is straightforward:
Accelerate the turnaround time
between the buying of materials for
a contracted sign and the day you
get paid for the sign. Essentially, until
paid, your materials cost becomes
an unsecured loan to the sign buyer
and, odds are, your estimate included
profit but not interest on that materialscost "loan."
In one sense, the (nonexistent) loan
M
18
SIGNS OF THE TIMES
JULY 2017
Large-scale jobs may require subcontractors who require immediate
payment, which further extends your cash investment - and risk - in the
project. Strong contract agreements for payment are one way to reduce
your risk, but a substantial deposit and/or pre-arranged payment stages
during the fabrication and install process are even better.
interest is a cost of doing business;
however, knowing the cash conversion
cycle is vital because an interval
reduction means you get your money
back sooner. Thus, a faster turnaround
enhances your shop's cash flow.
Generally, a positive cash flow
indicates the company is profitable
because there is - should be? -enough
cash flowing through the system to
Table of Contents for the Digital Edition of Signs of the Times - July 2017
Signs of the Times - July 2017
Contents
From the Editor
St Update
At Large
Tech Review
Leds + Lighting
Vehicles + Vinyl
A Monumental Influence
The 2017 State of the Industry Report
Building Safer Signs
Strictly Commercial: Sign Magic
New Products
Advertising Index
Last Look
Signs of the Times - July 2017 - Intro
Signs of the Times - July 2017 - BB1
Signs of the Times - July 2017 - BB2
Signs of the Times - July 2017 - Signs of the Times - July 2017
Signs of the Times - July 2017 - BD_L
Signs of the Times - July 2017 - BD
Signs of the Times - July 2017 - Cover2
Signs of the Times - July 2017 - 1
Signs of the Times - July 2017 - Contents
Signs of the Times - July 2017 - 3
Signs of the Times - July 2017 - 4
Signs of the Times - July 2017 - 5
Signs of the Times - July 2017 - 6
Signs of the Times - July 2017 - 7
Signs of the Times - July 2017 - From the Editor
Signs of the Times - July 2017 - 9
Signs of the Times - July 2017 - St Update
Signs of the Times - July 2017 - 11
Signs of the Times - July 2017 - 12
Signs of the Times - July 2017 - 13
Signs of the Times - July 2017 - 14
Signs of the Times - July 2017 - 15
Signs of the Times - July 2017 - 16
Signs of the Times - July 2017 - 17
Signs of the Times - July 2017 - At Large
Signs of the Times - July 2017 - 19
Signs of the Times - July 2017 - 20
Signs of the Times - July 2017 - 21
Signs of the Times - July 2017 - Tech Review
Signs of the Times - July 2017 - 23
Signs of the Times - July 2017 - Leds + Lighting
Signs of the Times - July 2017 - 25
Signs of the Times - July 2017 - 26
Signs of the Times - July 2017 - 27
Signs of the Times - July 2017 - Vehicles + Vinyl
Signs of the Times - July 2017 - 29
Signs of the Times - July 2017 - 30
Signs of the Times - July 2017 - 31
Signs of the Times - July 2017 - 32
Signs of the Times - July 2017 - 33
Signs of the Times - July 2017 - 34
Signs of the Times - July 2017 - 35
Signs of the Times - July 2017 - A Monumental Influence
Signs of the Times - July 2017 - 37
Signs of the Times - July 2017 - 38
Signs of the Times - July 2017 - 39
Signs of the Times - July 2017 - 40
Signs of the Times - July 2017 - 41
Signs of the Times - July 2017 - The 2017 State of the Industry Report
Signs of the Times - July 2017 - 43
Signs of the Times - July 2017 - 44
Signs of the Times - July 2017 - 45
Signs of the Times - July 2017 - 46
Signs of the Times - July 2017 - 47
Signs of the Times - July 2017 - 48
Signs of the Times - July 2017 - 49
Signs of the Times - July 2017 - Building Safer Signs
Signs of the Times - July 2017 - 51
Signs of the Times - July 2017 - 52
Signs of the Times - July 2017 - 53
Signs of the Times - July 2017 - 54
Signs of the Times - July 2017 - 55
Signs of the Times - July 2017 - Strictly Commercial: Sign Magic
Signs of the Times - July 2017 - 57
Signs of the Times - July 2017 - 58
Signs of the Times - July 2017 - 59
Signs of the Times - July 2017 - 60
Signs of the Times - July 2017 - 61
Signs of the Times - July 2017 - New Products
Signs of the Times - July 2017 - 63
Signs of the Times - July 2017 - 64
Signs of the Times - July 2017 - 65
Signs of the Times - July 2017 - 66
Signs of the Times - July 2017 - 67
Signs of the Times - July 2017 - 68
Signs of the Times - July 2017 - 69
Signs of the Times - July 2017 - 70
Signs of the Times - July 2017 - 71
Signs of the Times - July 2017 - 72
Signs of the Times - July 2017 - 73
Signs of the Times - July 2017 - 74
Signs of the Times - July 2017 - 75
Signs of the Times - July 2017 - 76
Signs of the Times - July 2017 - 77
Signs of the Times - July 2017 - 78
Signs of the Times - July 2017 - 79
Signs of the Times - July 2017 - 80
Signs of the Times - July 2017 - 81
Signs of the Times - July 2017 - 82
Signs of the Times - July 2017 - 83
Signs of the Times - July 2017 - 84
Signs of the Times - July 2017 - 85
Signs of the Times - July 2017 - 86
Signs of the Times - July 2017 - 87
Signs of the Times - July 2017 - 88
Signs of the Times - July 2017 - 89
Signs of the Times - July 2017 - 90
Signs of the Times - July 2017 - 91
Signs of the Times - July 2017 - 92
Signs of the Times - July 2017 - 93
Signs of the Times - July 2017 - 94
Signs of the Times - July 2017 - Advertising Index
Signs of the Times - July 2017 - Last Look
Signs of the Times - July 2017 - Cover3
Signs of the Times - July 2017 - Cover4
https://www.nxtbook.com/nxtbooks/STMG/sott_202010
https://www.nxtbook.com/nxtbooks/STMG/sott_202009
https://www.nxtbook.com/nxtbooks/STMG/sott_202008
https://www.nxtbook.com/nxtbooks/STMG/sott_202007
https://www.nxtbook.com/nxtbooks/STMG/sott_202006
https://www.nxtbook.com/nxtbooks/STMG/sott_202005
https://www.nxtbook.com/nxtbooks/STMG/sott_202004
https://www.nxtbook.com/nxtbooks/STMG/sott_blackbook_2020
https://www.nxtbook.com/nxtbooks/STMG/sott_202003
https://www.nxtbook.com/nxtbooks/STMG/sott_201802
https://www.nxtbook.com/nxtbooks/STMG/sott_201801
https://www.nxtbook.com/nxtbooks/STMG/sott_201712
https://www.nxtbook.com/nxtbooks/STMG/sott_201711
https://www.nxtbook.com/nxtbooks/STMG/sott_201710
https://www.nxtbook.com/nxtbooks/STMG/sott_201709
https://www.nxtbook.com/nxtbooks/STMG/sott_201708
https://www.nxtbook.com/nxtbooks/STMG/sott_201707
https://www.nxtbook.com/nxtbooks/STMG/sott_201706
https://www.nxtbook.com/nxtbooks/STMG/sott_201705
https://www.nxtbook.com/nxtbooks/STMG/sott_201704
https://www.nxtbook.com/nxtbooks/STMG/sott_bg2017
https://www.nxtbook.com/nxtbooks/STMG/sott_201703
https://www.nxtbook.com/nxtbooks/STMG/sott_201702
https://www.nxtbook.com/nxtbooks/STMG/sott_201701
https://www.nxtbook.com/nxtbooks/STMG/sott_201612
https://www.nxtbook.com/nxtbooks/STMG/sott_201611
https://www.nxtbook.com/nxtbooks/STMG/sott_201610
https://www.nxtbook.com/nxtbooks/STMG/sott_201609
https://www.nxtbook.com/nxtbooks/STMG/sott_201608
https://www.nxtbook.com/nxtbooks/STMG/sott_201607
https://www.nxtbook.com/nxtbooks/STMG/sott_201606
https://www.nxtbook.com/nxtbooks/STMG/sott_201605
https://www.nxtbook.com/nxtbooks/STMG/sott_201604
https://www.nxtbook.com/nxtbooks/STMG/sott_201603
https://www.nxtbook.com/nxtbooks/STMG/sott_bg2016
https://www.nxtbook.com/nxtbooks/STMG/sott_201602
https://www.nxtbook.com/nxtbooks/STMG/sott_201601
https://www.nxtbook.com/nxtbooks/STMG/sott_201512
https://www.nxtbook.com/nxtbooks/STMG/sott_201511
https://www.nxtbook.com/nxtbooks/STMG/sott_201510
https://www.nxtbook.com/nxtbooks/STMG/sott_201509
https://www.nxtbook.com/nxtbooks/STMG/sott_201508
https://www.nxtbook.com/nxtbooks/STMG/sott_201507
https://www.nxtbook.com/nxtbooks/STMG/sott_201506
https://www.nxtbook.com/nxtbooks/STMG/sott_201505
https://www.nxtbook.com/nxtbooks/STMG/sott_201504
https://www.nxtbook.com/nxtbooks/STMG/sott_201503
https://www.nxtbook.com/nxtbooks/STMG/sott_bg2015
https://www.nxtbook.com/nxtbooks/STMG/sott_201502
https://www.nxtbook.com/nxtbooks/STMG/sott_201501
https://www.nxtbook.com/nxtbooks/STMG/sott_201412
https://www.nxtbook.com/nxtbooks/STMG/sott_201411
https://www.nxtbook.com/nxtbooks/STMG/sott_201410
https://www.nxtbook.com/nxtbooks/STMG/sott_201409
https://www.nxtbook.com/nxtbooks/STMG/sott_201408
https://www.nxtbook.com/nxtbooks/STMG/sott_201407
https://www.nxtbook.com/nxtbooks/STMG/sott_201406
https://www.nxtbook.com/nxtbooks/STMG/sott_201405
https://www.nxtbook.com/nxtbooks/STMG/sott_201404
https://www.nxtbook.com/nxtbooks/STMG/sott_201403
https://www.nxtbook.com/nxtbooks/STMG/sott_bg2014
https://www.nxtbook.com/nxtbooks/STMG/sott_201402
https://www.nxtbook.com/nxtbooks/STMG/sott_201401
https://www.nxtbook.com/nxtbooks/STMG/sott_201312
https://www.nxtbook.com/nxtbooks/STMG/sott_201311
https://www.nxtbook.com/nxtbooks/STMG/sott_201310
https://www.nxtbook.com/nxtbooks/STMG/sott_201309
https://www.nxtbook.com/nxtbooks/STMG/sott_201308
https://www.nxtbook.com/nxtbooks/STMG/sott_201307
https://www.nxtbook.com/nxtbooks/STMG/sott_201306
https://www.nxtbook.com/nxtbooks/STMG/sott_201305
https://www.nxtbook.com/nxtbooks/STMG/sott_201304
https://www.nxtbook.com/nxtbooks/STMG/sott_201303
https://www.nxtbook.com/nxtbooks/STMG/sott_bg2013
https://www.nxtbook.com/nxtbooks/STMG/sott_201302
https://www.nxtbook.com/nxtbooks/STMG/sott_201301
https://www.nxtbook.com/nxtbooks/STMG/sott_201212
https://www.nxtbook.com/nxtbooks/STMG/sott_201211
https://www.nxtbook.com/nxtbooks/STMG/sott_201210
https://www.nxtbook.com/nxtbooks/STMG/sott_201209
https://www.nxtbook.com/nxtbooks/STMG/sott_201208
https://www.nxtbook.com/nxtbooks/STMG/sott_201207
https://www.nxtbook.com/nxtbooks/STMG/sott_201206
https://www.nxtbook.com/nxtbooks/STMG/sott_201205
https://www.nxtbook.com/nxtbooks/STMG/sott_201204
https://www.nxtbook.com/nxtbooks/STMG/sott_201203
https://www.nxtbook.com/nxtbooks/STMG/sott_bg2012
https://www.nxtbook.com/nxtbooks/STMG/sott_201202
https://www.nxtbook.com/nxtbooks/STMG/sott_201201
https://www.nxtbookmedia.com