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36 minute read
Cash Flow Strategies and
Cash Flow Strategies and Profits
by Mark E. Battersby
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Cash flow is the life blood of every business. In fact, according to a recent U.S. Bank study, poor cash flow management causes 82% of U.S. business failures. Although seemingly counterintuitive, many experts advise putting cash flow management before profits.
While profits are how an ice cream or frozen dessert business survives, failure to manage the operation’s cash flow can mean running into problems that one profitable accounting period might not be able to offset. Another study, this one by Intuit, revealed that 61% of small businesses around the world struggle with cash flow and 32% are unable to pay vendors, pay back pending loans, pay themselves or their employees, all due to cash flow issues.
Cash Flow Management: 101
In essence, cash flow is nothing more than the movement of money in and out of the ice cream business. Cash flows into the business from sales of products or services. Money flows out of the business for supplies, raw materials, overhead and salaries in the normal course of business.
An adequate cash flow means a steady flow of money coming into the business in time to be used to pay those bills. How well the frozen dessert operation’s cash flow is managed will obviously have a significant impact on the bottom-line profits of the business.
More-often-than-not, the operation’s cash inflows will lag behind its cash outflows, often leaving the business short of money. This shortage or cash flow “gap,” represents an excessive outflow of cash that may not be covered by a cash inflow for weeks, months or even years.
Properly managing the ice cream or frozen dessert operation’s cash flow allows that “gap” to be narrowed or closed completely before it reaches the crisis stage. This is usually accomplished by examining the different items that affect the operation’s cash flow -– and looking at the various components that directly impact on cash flow. This analysis can provide the answer to a number of important questions such as:
* How much cash does the business have? * How much cash does the business need in order to operate -– and when is it needed? * Where does the business get its cash and spend it? * How does the operation’s income and expenses affect the amount of cash needed to operate the business?
The “In” of Cash Flow
In a perfect world, there would be a cash inflow, usually from a cash sale, every time there is an outflow of cash. Unfortunately, this occurs very rarely in an imperfect business world. Thus, the need to manage the cash inflows and outflows of the business.
Obviously, accelerating cash inflows improves overall cash flow. After all, the quicker cash can be collected, the faster the business can spend it. Put another way, accelerating cash flow allows a business to pay its own bills and obligations on time, or even earlier than required. It may also allow the business to take advantage of trade discounts offered by suppliers.
An important key to improving the ice cream or frozen yogurt operation’s cash flow is often as simple as delaying all outflows of cash as long as possible. Naturally, the operation must meet its outflow obligations on time, but delaying cash outflows makes it possible to maximize the benefits of each dollar in the operation’s own cash flow.
Outflow
Outflows are the movement of money out of the business, usually as the result of paying expenses. If the business involves reselling goods, the largest outflow will most likely be for the purchase of inventory. An ice cream manufacturing business’s biggest outflow most likely involves the purchase of raw materials and other components needed for the manufacturing process. Purchasing fixed assets, paying back loans and paying the operation’s bills are all cash outflows.
An ice cream retailer or other business operator can regain control over their finances by adopting best practices and proper tools. A good first step involves how the operation pays its bills.
Many credit cards have a cash back bonus program. Even if the program offers only 1% cash back, that could equate to a sizeable monthly amount for many ice cream and frozen dessert businesses. Of course, because credit cards tend to have a higher interest rate, they should only be used if the balance can be quickly paid off in full.
Where bulk sales are involved,
improving the invoicing process is another key step in cash flow management. Any business can adopt incentive strategies to be paid faster. Giving away small extra services, on the other hand, might work. Incentives might include the following: * Small additional services * Discount for early payments (balance paid before a certain date, or yearly invoice vs. monthly) * Greater flexibility (for instance: a down payment required to book a delivery date).
Some customers are just late payers and need to be nudged. The way that dunning is handled can, however, greatly affect the collection process. Timing and the quality of message content are the two main factors in the success or failure of these prods.
The manner in which the ice cream business gets paid not only affects its profitability but also its cash flow. Today, paper checks remain as the standard method of payment. However, paper checks are slow, highly susceptible to fraud and bear “hidden costs” such as additional work and back office processing. They are also inadequate for recurring invoicing.
Something as simple as asking customers to switch to debit cards or electronic funds transfer (EFT or ACH), providing incentives, etc., are among the tips that can be offered for faster, more secure, reliable and cheaper payments.
Improving Cash Flow
As mentioned, cash flow and profit are not the same. There are many factors that make up cash flow, such as inventory, taxes, expenses, accounts payable and accounts receivable.
The proper management of cash outflows requires tracking and managing the operation’s liabilities. Managing cash outflows also means following one simple, but basic rule: Pay your bills on time -– but never pay bills before they are due.
Having a cash reserve can help any frozen dessert business operator survive the gaps in cash flow. Applying for a line of credit from the bank is one way to build that cash reserve. Once qualified, lenders will grant a predetermined credit limit which can be withdrawn from when needed.
Yet another option might be frugality. Aiming to keep the ice cream business lean, evaluate it. Is the purchase of new equipment really necessary? Will hiring new employees really be cost-effective? Weighing the pros and cons of all business needs and wants enables the business to retain cash flow and avoid unnecessary expenses.
Cash Flow Gaps
Remember, however, the cash flow gap in most businesses represents only an outflow of cash that might not be covered by a cash flow inflow for weeks, months or even years. Any business, large or small, can experience a cash flow gap -– it doesn’t necessarily mean the business is in financial trouble.
In fact, some cash flow gaps are created intentionally. That is, a business owner or manager will sometimes purposefully spend more cash to achieve some other financial results. A business might, for example, purchase extra inventory to meet seasonal needs, to take advantage of a quantity or early-payment discount, or might spend extra cash to expand its business.
Cash flow gaps are often filled by external financing sources: revolving lines of credit, bank loans and trade credit are just a few external financing options available to most ice cream and frozen dessert operations.
Cash Flow Loans
Cash flow-based loans rely on the value of the operation’s cash flow. If the operation has a strong cash flow stream, it can be used to get significant loan amounts even if there are few business assets. Although cash flow loans can be expensive, they play a key roll in any expanding business.
An advantage of cash flow loans is the repayment period. These loans are usually designed according to the needs of the borrower with repayment period usually between five and seven years. And, since cash flow loans are different from asset-based loans, rarely does collateral have to be put up.
Flowing Cash Flows
Assessing the amounts, timing and uncertainty of cash flow is the most basic objective of cash flow management. Positive cash flow indicates the liquid assets of the business are increasing, enabling it to settle debts, reinvest in its business, return money to shareholders, pay expenses and provide a buffer against unanticipated financial challenges. The impact of a negative cash flow can be profound with so many operating on margins so thin that frequent lost opportunities will put them on the path to closing their doors.
Every business can improve their cash flow. Of course, in order for this to happen, they need to adopt best practices in the way they invoice, follow up with customers and, monitor outflow. Without the help of a qualified professional, these best cash flow practices may be more difficult to achieve. v
About the Author
Mark Battersby’s columns, currently serving readers in a variety of fields, provide a wealth of topical information on a regular basis. Mr. Battersby writes and sells more than 200 features for trade magazines and journals every year in addition to writing and syndicating a column of general business tax information to over 45 business journals each week, newspapers and periodicals. Mr. Battersby also writes three topical columns every week and 13 trade magazine columns every month.
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What’s IN and What’s OUT in the Workplace?
Eight Trends Leaders Can’t Afford to Miss
by Rick Grimaldi
Thriving in business means adapting to the many disruptions and influences that shape our modern work environment.
The way we work is changing fast. Technology is disrupting every sector, while shifting social, political, and environmental factors are shaping a new landscape of work for leaders and employees. Workplace trends expert Rick Grimaldi says staying up to date on these changes is the key to navigating the chaos, staying successful, and, frankly, staying out of legal hot water. “Some of the big trends we’re seeing are driven by COVID and there are legal questions attached to many of them,” says Grimaldi. “But legalities are just the beginning. To stay relevant and attract a talented workforce you’ve got to know which outdated standards and behaviors no longer belong in today’s workplace. And you’ve got to change them quickly.”
In other words, to stay successful in a world in constant flux, leaders must know what’s IN and what is decidedly OUT. Then they must transform their organization accordingly.
For instance:
IN: A structured, laser-focus on workplace safety.
OUT: A “things will be fine” approach to safety.
Once a discrete area that many thought only construction companies and chemical plants needed to worry about, the COVID-19 pandemic suddenly made workplace safety an issue for everyone—in every business regardless of industry. In addition, workplace violence is on the rise. Today’s workers demand and expect that companies put their safety first and companies are stepping up. A laser focus on safety not only helps companies prevent disability and discrimination claims and avoid OSHA fines, it sets them up to recruit and retain top talent.
IN: Flexibility that allows for work-life integration.
OUT: Rigid rules about when and how employees work.
“Work from home” seems here to stay. Also, the 9-5 workday is being replaced with a more flexible schedule that (theoretically) allows better worklife integration. Yet true work-life integration requires time to enjoy life and de-stress, which is not always easy when the workday bleeds into evenings and weekends. There are no easy answers for employees or companies.
“Yes, work from home can improve employee productivity, creativity, and morale,” says Grimaldi. “On the other hand, there’s no substitute for face-to-face interactions, and we’re starting to see burnout from those who have been working from home for the past year and don’t know when to close their laptops for the night. Organizations must weigh the trade-offs between what’s good for the company and what’s good for the worker.”
IN: Intentionally shaping multigenerational companies.
OUT: Ageism in any form.
The most recent census revealed there are 38 million baby boomers, 57 million millennials (Gen Y), and 53 million Gen Xers. Soon, we will add in the 65 million Gen Zers. Youngsters far outnumber the oldsters at work. But at the same time, boomers are still hanging on to their place in the workforce. This is a good thing, says Grimaldi. The most productive and high-performing companies include a nice mix of employees of all age ranges, older employees included.
“A blend of different ages means you get more diverse perspectives and a synergy that gives you a competitive edge,” says Grimaldi. “Younger workers can come up with different ideas and may push for meaningful social and environmental change. But older employees bring a wealth of experience, insight, stability, and soft skills that younger people may not have developed yet.”
IN: A zero tolerance attitude toward sexual harassment.
OUT: Apathy around sexual harassment issues. (Or worse, coverups.)
In the post-#MeToo era, powerful employers and employees are facing new scrutiny about their workplace behaviors and relationships. “Everyone should have the memo by now,” says Grimaldi. “There should be zero tolerance for sexual harassment in the workplace.”
IN: Taking a stand on social and environmental issues.
OUT: Myopic focus on profits and shareholder earnings.
In recent years, many organizations have come forward to support the Black Lives Matter movement, taken a stand on global human rights issues, or adopted a more environmentally conscious approach to business.
Not only is taking a stand on such issues the right thing to do, it’s what people want. According to one PR agency, more than 87 percent of consumers make purchases based on whether a company’s social beliefs align with their own. And 75 percent of millennials say they would take a pay cut to work for a socially and environmentally responsible company.
IN: Psychological safety and connectedness.
OUT: Workplace bullies running roughshod.
As AI disrupts and reshapes businesses, the work left to be performed by humans will be based on collaboration and communication. Employees must feel safe enough to build good trusting relationships that spur innovation. Anyone who dominates, demeans, belittles, or bullies others is interfering with this pursuit—and companies will no longer tolerate it.
Leaders: Create an atmosphere of psychological safety by encouraging candor, avoiding blame, and allowing people to deliver bad news without fear of your reaction. Spell out expectations of how coworkers should interact, implement mandatory training, and set up channels for reporting bullying. And thoroughly investigate all claims.
IN: Diversity, inclusion…and METAClusion.
OUT: Overlooking people of color, women, and LGBTQ and disabled employees.
Consider a few facts:
For the first time, beginning in 2019, the majority of American hires in their prime—ages 25-54—were people of color.
Also, for the first time in 2019, women made up the majority of the college-educated workforce. And the 66 million working women today are expected to grow to 92 million by 2050.
Though immigrants make up just 18 percent of the workforce over age 25 in the US today, they obtain 28 percent of high-quality patents. They’re also more likely to be recognized as Nobel laureates in physics, chemistry, medicine, and physiology.
“We know diversity and inclusion are important,” says Grimaldi. “But organizations that want to thrive go further: They work toward what DEI expert Tristan Higgins calls metaclusivity. In other words, they cultivate a true sense of belonging. Feeling that they belong is what gets people engaged and allows them to do their best work.”
IN: Bringing mental health issues out of the closet.
OUT: A hands-off approach to employee emotional wellbeing.
After years of staying out of personal lives, more companies are asking, “How are you doing, really?” Thanks to COVID, many employees have moved past stress and into trauma territory. Companies are realizing that their psychological wellbeing impacts engagement, productivity, and every aspect of culture.
“Do everything you can to promote employee wellbeing, both physical and mental,” says Grimaldi. “Design benefits, career tracks, and work arrangements with an eye toward meeting the needs of employees at different stages of life. And destigmatize mental health issues. It has to be okay to ask for help.”
“Your ability to flex is what will make your business successful in the future,” concludes Grimaldi. “Disrupt yourself now by letting go of what’s out and embracing the trends that make our modern work environment more productive, more inclusive, and more profitable.”
About TheAuthor
Rick Grimaldi is a workplace trends expert and the author of FLEX: A Leader’s Guide to Staying Nimble and Mastering Transformative Change in the American Workplace. Rick’s unique perspective comes from his diverse career in high-ranking public service positions, as a human resources and labor relations professional for an international hi-tech company, and presently in private practice as a partner with Fisher Phillips, LLP, one of America’s preeminent management side labor and employment law firms. Day to day, Rick works with companies to help them adapt to the ever-changing business environment, achieve their workplace goals, and become better employers. Rick is an internationally recognized writer and keynote speaker, and has been selected through a peer review process as one of The Best Lawyers in America© in three of the last four years.
For more information, please visit www.rickgrimaldi.com.
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Seven Things Leaders Need to Know About the Post-COVID Workplace
By Dr. Diana Hendel and Dr. Mark Goulston
COVID-19 is only the most recent blow: For decades, the business world has faced a perfect storm of crises, changes, and disruptions. The result, according to a timely new book, is widespread organizational trauma. Here are a few insights on navigating it.
Have you noticed your colleagues and employees seem a little stressed lately? (Okay, more than a little.) (Okay, it’s not just them. It’s you, too.) It’s understandable: The pressures we face and the hurdles we must jump are quite stressful. Yet the truth is far more worrisome, say Diana Hendel, PharmD, and Mark Goulston, MD. There’s a good chance your company has moved past stress and into trauma territory.
“Yes, COVID-19 is a big part of it,” says Dr. Hendel along with Dr. Goulston. “The pandemic has disrupted every industry and changed our lives forever. But also factor in the political and social turmoil of the past year. And consider that for decades we’ve been battered by an onslaught of tech-driven shake-ups and other challenges.”
Any of these changes and crises by themselves would be tough to deal with. But add them all together—and factor in the frequency, intensity, and duration that characterizes them—and you have a “perfect storm” for trauma.
“Stress and trauma must be treated differently,” asserts Dr. Goulston. “Stress shakes our balance and is unpleasant to experience, but we’re able to power through it, build resilience, and go on with our lives. Trauma causes us to act from a place of fear. We go into survival mode and get caught up in the ‘fight, flight, or freeze’ response. It changes how we see the world—and it’s not something companies or workers can cope with long-term.”
Unprocessed trauma is dangerous for organizations, say the authors. It causes individual employees and leaders to act in destructive ways. Companywide, it compromises your structures, systems, and values. This is why it’s important to “name, claim, and frame” trauma. It’s the most effective way to fix what’s wrong now and prepare to deal with traumatizing events in the future.
Drs. Hendel and Goulston wrote Trauma to Triumph as a blueprint for all organizations. It lays out tactics to help leaders create stability in the midst of chaos, move productively through a traumatic event, and come out even stronger on the other side. A few insights from the book:
Trauma doesn’t always look like “shock and awe.” It can also be
a “boiling frog” scenario. Sometimes trauma is ongoing and cumulative. For example, it may take the form of sexual harassment, racism, or some other type of discrimination. When trauma is not connected to a single event, many of us may not even realize we’re experiencing its effects. In these kinds of scenarios, where the trauma is chronic, the organization is like the proverbial frog in the cooking pot. You know the story: At first the frog is sitting in lukewarm water. Over time, the heat slowly intensifies until, finally, it is at the boiling point, and the frog is in serious trouble.
“Many leaders think that trauma doesn’t apply to them because there’s not a single dramatic event,” notes Dr. Hendel. “But trauma can happen in a variety of ways, all of them destructive.”
Trauma can manifest in employees in different ways. Learn
to recognize these red flags. When people go into “fight, flight, or freeze” mode, they may respond differently. Some people might become hostile, belligerent, aggressive, or otherwise “difficult”—often seemingly without adequate cause. Others might cling to their “competence zone,” blindly doing what they’ve always done even though it no longer works. People dig in and resist change. Or they may insist they are “fine,” even when it is clear they are struggling.
“Meanwhile, leaders may behave in distinctively un-leaderly ways as well,” notes Dr. Goulston. “They might hide out in their office instead of jumping into action, or make rash, knee-jerk decisions when they were previously known for level-headed steadiness.”
Certain “common threads” de-
fine traumatized organizations. Dr. Hendel—who lived through a workplace shooting a decade ago—says certain predictable things happen in the wake of trauma. People create their own narratives about what happened. Blaming and finger-pointing ensue. And often, people divide into opposing camps, and the workforce rapidly polarizes—opposing views can be taken to the extreme, and rifts can divide an organization.
“Because it isn’t being addressed, people continue to struggle, and the ongoing, perhaps deepening, division/ polarization, blame, shame, and guilt hurts the culture,” says Dr. Hendel. “All of this can damage collaboration, cooperation, cohesiveness, and teamwork and erode their belief and trust in one another—and eventually the trauma becomes ‘taboo’ and unspeakable.
“Fortunately, there are strategies for addressing and mitigating the impact trauma has on individuals—and on the culture of the organization,” Dr. Hendel continues. “When leaders navigate trauma effectively, they can minimize risks to employees and to the organization, help people recover and heal, and position the organization to thrive in the future.”
Here are some examples:
A Rapid Response Process enables you to spring into action when
crisis occurs. You might think of this as a “Code Blue.” It’s a standardized, pre-planned approach for dealing with disruption. Getting one in place helps
everyone know exactly what to do so that decisions can be made quickly, efficiently, and with a focus on safety. Here are the components to focus on.
Gather your Rapid Response Team. Appoint people to this team before a crisis happens and make sure they know their respective roles. It should include all senior leaders and leaders of key functions such as operations/logistics, security, finance, HR, communications/PR, facilities, etc.
Allow the leader in charge to delegate. You need a central commander to manage response activities such as assigning personnel, deploying equipment, obtaining additional resources, etc. This leader must be fully present, visible, and available in the heat of crisis.
Have the team report to the command center. This is a pre-determined location (physical and/or virtual) for monitoring and reacting to events. You should also select a code word that puts the Rapid Response Process into action.
Gather relevant information. In a crisis it’s critical to centralize information, facts, and data. What’s known? What isn’t known? The goal is to organize and coordinate response activities, ensuring that the most pressing needs are met and that resources are properly allocated.
Promote a unifying message. It is vital to deliberately shape and disseminate a message of unity. Make sure your message is one of “we are all in it together.” This helps people transcend the impulse to split into factions.
Communication is never more important than in a
crisis. In times of crisis, employees need frequent, real-time, transparent communication more than ever. The acronym VITAL will help you remember the tenets around communicating in the aftermath of trauma:
Visible. Leaders must be highly visible and take the lead in communication. Don’t hide behind a spokesperson. Communicate quickly and clearly to reduce ambiguity.
In it together. Double down on messages that connect to team-building, camaraderie, and purpose. Acknowledge people’s fears, worries, and anxieties as normal, and inform them of what to expect.
Transparent. Align leadership in how they see the external environment and make sure everyone agrees on what “success” looks like to make sure all messages are cascaded consistently. Don’t create voids with silence or waiting to communicate. Tackle rumors head-on. Don’t downplay or mislead, and do share bad news the minute you have it.
Accessible. Use all modalities (video, email, intranet, text, town halls, etc.) to convey messages from the senior leader. Have a central repository/FAQ where people can get info. Establish a central number/site for employees to ask questions in between regular communication sessions.
Listening. This is the most important piece of the communication formula! Ask questions and leave room for inquiry. When listening, stop talking. Resist the temptation to just listen for what you want to hear (your job is to hear and deal with the hard stuff too).
A “both/and” approach can turn things around. In the best of times, businesses routinely struggle with dilemmas that can lead to polarization. For example, businesses routinely struggle with questions such as mission or margin? and high quality or low cost? Or in the example of the COVID-19 pandemic, health of the economy or health of the populace? People tend to have different ideas on these issues even in the best of times, but trauma can stoke and inflame them. Instead of approaching these issues with an either/or mentality, Drs. Hendel and Goulston say that these are false choices, and organizations can, instead, leverage each side of these polarities with a both/and approach.
“Leaders can intentionally create mindsets to maximize the effects of both sides and minimize the downsides of each to achieve things they couldn’t otherwise,” says Dr. Hendel. “For example, in a crisis, effective leaders can BOTH take charge AND build consensus. They can be BOTH direct and candid AND diplomatic and tactful.”
Trauma can be a wake-up call for organizations.
Specifically, it’s an opportunity to get some clarity around what you do, how you contribute and add value, and why you’re unique in providing these services. In the aftermath of trauma, you have a chance to build stronger, better teams; reinvent how you make decisions; and fine-tune your problemsolving processes.
“We live in a time of constant flux and chaos, and that will never change,” says Dr. Goulston. “Putting a solid framework into place to lead organizations through trauma is not just a good idea but, increasingly, a necessity. It’s the only way to successfully navigate the future.” v
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Get to the Point or Pay the Price
Six Tips to Help Leaders Be Brief and Be Heard
by Joe McCormack
When leaders ramble, digress and drone on, people tune us out. That can lead to lost customers, low-performing employees, failed projects and missed opportunities. Here are six simple strategies to help you nix the noise, be brief and be heard. We’d like to assume others hear us when we speak. Sadly, though, most leaders are ineffective communicators (at least at times). And even when listeners realize they’re not “getting” what we’re saying, they seldom ask for clarification. All this murkiness adds up to confusion and missed opportunities, says Joe McCormack. “There’s always a price to pay for unclear, imprecise, muddled communication,” says McCormack. You may never know the price of your poor communication, but it can be steep indeed. Perhaps potential investors get turned off and fund another organization. Prospects are unmoved by your sales pitch, and you lose potential customers. Employees misunderstand their performance reviews and don’t improve. The big project you’re heading up falls flat.
“These serious problems can easily be solved,” says McCormack. “And usually, it involves your saying less, not more. Being able to deliver clear, concise messages that land, resonate, and inspire is a crucial leadership skill.”
We might think more is better and we’re doing people a favor by being thorough. But too much talking actually obscures the meaning of what we say. It’s a common form of “noise,” the word McCormack uses for the many forms of information overload we experience daily. (Think endless meetings; long, confusing work emails; and the onslaught of texts, social media alerts, and never-ending newsfeeds that erode our attention span and addict us to our devices.)
As part of his “Just Say No to Noise” campaign, he suggests leaders banish all that extra language and get intentional about conveying clear, concise, brief messages. Six tactics to try:
Beware of TMI (too much information) and TMP (too many people).
The more critical your message, the more concise it must be. A longwinded, meandering message given to a huge room full of people dilutes your message and decreases its urgency. It also eliminates ownership of followup items. It’s far better to hold a series of short meetings, each focusing on a single topic. Include only those who need to understand that single topic.
KISS: Keep it super simple.
Yes, you could produce a 50- or 60-slide PowerPoint presentation and feel good about your message. But you will be far more impactful if you whittle your message down to its core and present five to eight memorable slides. This is effective because it forces you to understand what you are communicating and then relay only the bare essentials. “If you notice yourself saying something needlessly complex, just add ‘in other words’ and rephrase it using more ordinary words,” says McCormack. “What comes out is much simpler and clearer—it’s what you were actually trying to say.”
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Stick to a single message and repeat it liberally.
In marketing, the “Rule of Seven” says that a prospect needs to see or hear your marketing message at least seven times before they take action. The number seven isn’t written in stone, but the concept remains: Reinforce your message by repeating it over and over.
Cut the jargon.
People treat these flashy words and phrases as noise. When people use “corporate speak,” they’re trying to project knowledge and authority, but really they’re training others to ignore them. Instead of filling your presentations with the “empty calories” of jargon, deliver a clear message with real meaning.
Follow the Napoleon principle.
Derek Wheeler, Chief of Staff at Cincinnati Children’s Hospital Medical Center, explains that French Emperor Napoleon Bonaparte would communicate a battle plan to his military personnel. After the generals left the room, Napoleon would ask a corporal (one of the lowest ranked people in the room) if he had understood the battle plan. If the corporal was unable to explain the plan, Napoleon would scrap it and start over. The takeaway: Make sure at least one listener (and preferably all of them) understands what you’re trying to communicate.
Use “headlining” to get your message across upfront.
Whether you’re giving a presentation or sending out an email, lead with your most important idea first. This avoids people’s tendency to bury the point or miss it entirely. It gets people’s attention right away and can help them keep the remainder of your message in the appropriate context.
“When your story is clear and easy to follow, your plan can be executed the right way the first time,” concludes McCormack. “Imagine not only the impact that this will have on your job performance and your work relationships, but on your entire life. When the people around you can quickly understand what you want and need, it makes all of your relationships stronger and better.” v
About the Author
Joseph McCormack is the author of NOISE: Living and Leading When Nobody Can Focus. He is passionate about helping people gain clarity when there is so much competing for our attention. He is a successful marketer, entrepreneur, and author. His first book, BRIEF: Make a Bigger Impact by Saying Less (Wiley, 2014), sets the standard for concise communication. Joe is the founder and managing director of The BRIEF Lab, an organization dedicated to teaching professionals, military leaders, and entrepreneurs how to think and communicate clearly. His clients include Boeing, Harley-Davidson, Microsoft, Mastercard, DuPont, and select military units and government agencies. He publishes a weekly podcast called “Just Saying” that helps people master the elusive skills of focus and brevity.
Tips for Costing Cones, Sundaes, Shakes & Other Goodies Using Soft or Hard Ice Cream or Frozen Yogurt
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How to Cost:
• Mix • Soft & Hard Ice Cream • Soft Frozen Yogurt • Hard Frozen Yogurt • Crunch • Cake • Manufacturing • Preparation • Decoration • Packaging • Labor • Pricing
How to Cost:
• Mix • Soft & Hard Ice Cream • Soft Frozen Yogurt • Hard Frozen Yogurt • Cones • Sundaes • Shakes • Mix-Ins • Sodas • Floats • and more
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Learn from Cliff Freund, Cliff's Dairy Maid, an expert and store owner for over 40 years! $15.99 each
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Costing Cakes & Pies, $15.99, plus $2.00 s&h Costing Cones, Sundaes, $15.99, plus $2.00 s&h Both Manuals, $30.00 plus $4.00 s&h Illinois Residents add 9.5% sales tax
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The National Dipper Magazine and The National Dipper Source Books are provided, subject to the limited license, stated below, only to qualified subscribers. If you have not filled out a subscription card within the last year, please fill out the card below to receive your complimentary subscription to THE publication for frozen dessert retailers. The subscription is for a one year period only and requires you to re-apply each year in order to continue to receive a complimentary subscription, subject to the limited license. The publisher reserves the right to restrict complimentary subscriptions to qualified subscribers only. All information must be provided or we cannot process your complimentary subscription request. Thank you.
Dippe The National r ®
The Magazine For Frozen Dessert Retailers 1532 Oregon Trail Elk Grove Village, IL 60007 July/August 2021 Subscription Card
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Type of Firm (Check All That Apply) Your Title (Check All That Apply)
Ice Cream Dipping Store-1 Owner-1 ❏ Soft Serve-2 Partner-2 ❏ Frozen Yogurt-3 President-3 ❏ Frozen Custard-4 Vice President-4 ❏ Gelato-5 Secretary/Treasurer-5 ❏ Italian Ice -6 Manager-6 ❏ Vending Vehicle/Catering-7 Buyer-7 ❏ Concession Stand-8 Salesperson-8 ❏ Dairy and Convenience-9 Representative-9 ❏ Supplier of Goods & Services-11 Other-10 ❏ Distributor-12 Supplier/Dist Rep-13 Broker-14 Other-15 Average gallons of frozen desserts sold per week Up to 100 gallons-1 101 to 150 gallons-2
Do you make your own frozen desserts using a batch or
continuous freezer? ❏Yes ❏ No ❏ ❏
Do you sell food? ❏ 151 to 200 gallons-3 ❏ Yes ❏ No ❏ 201 plus gallons-4 Your Name
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The National Dipper Magazine and The National Dipper Source Books (the “Works”) contain proprietary information of the publisher and are licensed, not sold. In consideration for your substantially completing and returning this form to the publisher, which act shall be deemed sufficient evidence of your acceptance of this non-exclusive, non-transferable, license, the publisher (a) grants you the limited right to use these works in your business, provided that you do not sell, resell, reproduce, distribute, or transmit in any form or by any means, including without limitation, electronic, optical or mechanical means (by way of example and not limitation, photocopying or recording by or in an information storage retrieval system) these Works, either in part or in their entirety, without prior written permission of the publisher, and (b) agrees to provide you with a complimentary copy of the work.
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The National Dipper Yellow pages is a complete resource guide for tthe frozen dessert retail industry and will appear in every issue. Listings are sold on an annual basis and rates are for six issues. Yellow pages are not commissionable and payment must accompany order. Send your order to: The National Dipper, 1030 West Devon Avenue, Elk Grove Village, IL 60007-7226. 847/301-8400. Regular Listing: 1st line $395. year, additional lines, $280. year. Maximum characters 40 characters per line. Boldface Listing: 1st line $495. year, additional lines, $395. year. Maximum 30 characters per line. ALL CAP Listing: additional $85 a line per year, regular or boldface. Maximum 30 characters per line.
ASSOCIATIONS Great Lakes Ice Cream & Fast Food Assn. ..................810/618-0605 New England Ice Cream Restaurant Assn. .........mca319@gmail.com
BATCH FREEZERS Carpigiani…………www.carpigiani,com/us……………800-648-4389 Emery Thompson......www.emerythompson.com……..718-588-7300
BOOKS
Tips for Costing Ice Cream & Frozen Yogurt Cakes & Pies, plus: Tips for Costing Ice Cream Cones, Sundaes, Shakes & Other Goodies………………………..JLM Unlimited...847-301-8400
BULK ICE CREAM CONTAINERS Negus Packaging Solutions 3220 Kingsley Way, Madison, WI 53713
CAKE DECORATING www.cakedeco.com…Candles & Everything!...........718/545-4600
COCOA POWDER Forbes Chocolate………………............…..www.forbeschocolate.com
CONES Joy Cone Co. Cake, Sugar, Waffle Cones & Bowls.......800-242-2663 PDI Cone-Dutch Treat…Sugar Cones & Toppings….....866-277-3084
DIPPING CABINETS Carpigiani…………www.carpigiani,com/us……………800-648-4389
FLAVORS Green Mountain Flavors, Inc. ………………………..800-639-8653
FROZEN CUSTARD
Classic Mix Partners...www.classicmixpartners.com.....800-722-8903 Award Winning Frozen Custard Mixes
FROZEN YOGURT MIX A. Panza & Sons, Ltd., Mixes & Ingredients www.icecreamproducts.com…………………….800-Ice-Cream
ICE CREAM CARTS & FREEZERS AllStarCarts-IceCreamCarts-Tricycles-TrucksTrailers...800/831-3166 Carpigiani…………www.carpigiani,com/us……………800-648-4389
ICE CREAM CONTAINERS Visstun Cups…………..www.visstuncups.com….….702/251-8809 Custom printed quarts, pints, 1/2 pints and 5 oz. cups
Flexible order volume - Single case to millions
ICE CREAM MIX A. Panza & Sons, Ltd., Mixes & Ingredients www.icecreamproducts.com…........................….800-Ice-Cream
PHOTOGRAPHY Stella Lorens Gallery…www.stellalorens.com...............630/730-8297
POINT OF SALE POSTERS
JLM Unlimited, Inc., ........Elk Grove Village, IL ..............847/301-8400 Ice Cream Banana Split and Sundaes Posters
SODA FOUNTAINS AMERICAN SODA FOUNATIN, INC............................312/733-5000 455 N. Oakley Bl...Chgo, IL 60612...www.americansodafountain.com Parts-Sales-Service-Mixers-Pumps-DraftArms-SodaFount.Bev.Equip
SOFT SERVE MACHINES Carpigiani…………www.carpigiani,com/us……………800-648-4389
TOPPINGS
TR Toppers ………..800-748-4635……. www.trtoppers.com
VANILLA
Prova Gourmet….www.provagourmet.com…978/739-9055
Regional Yellow Pages are available to companies that distribute products and/or services in a limited area of the country. Companies are listed in the state in which they are located. Regional Yellow Pages will appear in all six issues of The National Dipper and rates shown are for six issues. Regular Listing: 1st line, $295. per year, additional lines $165. per year. Maximum 40 characters per line. Boldface Listing: 1st line, $395. per year, additional lines $295. per year. Maximum 30 characters per line. ALL CAP Listing: additional $75. a line per year, regular or boldface. Maximum 30 characters per line. Payment must accompany order. Regional Yellow Pages are non-commissionable.
Regional Yellow Pages
CALIFORNIA Taylor Freezers of Calif..800-927-7704..www.taylorfreezers.com
FLORIDA Seacoast Sales……..............………...www.seacoastsalesflorida.com 904/334-4489………….......Batch Freezers……...........Display Cases
NEW JERSEY A. Panza & Sons, Ltd., Mixes & Ingredients www.icecreamproducts.com….........................….800-Ice-Cream Dingman’s Dairy................www.dingmansdairy.biz..800-958-6838
SOUTH JERSEY PAPER PRODUCTS/SUPPLYITALL
OHIO Peck Food Service..www.peckfoodservice.com…..800-732-7325
This issue of The National Dipper is only available online at: www. national dipper.com
NEGUS PACKAGING SOLUTIONS
Available in 1.3, 2 ½, and 3 Gallon
NEGUS 3220 Kingsley Way Madison, WI 53713 (608) 251-2533 negus.info@negusboxnbag.com www.negusboxnbag.com (888) 241-7482
Distributor Inquiries Welcome JULY
National Ice Cream Month National Hot Dog Month 3 – National Chocolate Wafer Day 4 – Independence Day 7 – Strawberry Sundae Day 9 – National Sugar Cookie Day 11 – National Blueberry Muffin Day 12 – National Pecan Pie Day 15 – National Gummy Worm Day 17 – National Peach Ice Cream Day 18 – National Ice Cream Day 20 – National Ice Cream Sundae Day 23 – National Vanilla Ice Cream Day 25 – National Hot Fudge Sundae Day 26 – National Coffee Milkshake Day 28 – National Milk Chocolate Day 30 – National Cheesecake Day 31 – National Cotton Candy Day
July – National Blueberry Month. Contact: Tom Payne, U.S. Highbush Blueberry Council, 865 Woodside Way, San Mateo, CA 94401. 650/340–8311. Fax: 650/340–8568. E–mail: jferrary@tjpmd.com
AUGUST
National Peach Month 2 – National Ice Cream Sandwich Day 3 – National Watermelon Day 4 – Chocolate Chip Cookie Day 4 – Friendship Day 6 – National Root Beer Float Day 8 – National Frozen Custard Day 10 – National S’mores Day 10 – National Banana Split Day 14 – National Creamsicle Day 17 – National Vanilla Custard Day 18 – National Ice Cream Pie Day 19 – National Soft Serve Ice Cream 19 – National Aviation Day 21 – Senior Citizen Day 24 – National Peach Pie Day 25 – Banana Split Day 26 – National Cherry Popsicle Day 30 – National Toasted Marshmallow
SEPTEMBER
National Honey Month 4 – National Macadamia Nut Day 6 – Labor Day 6 – Rosh Hashanah Begins 6 – National Coffee Ice Cream Day 10 – National Hot Dog Day 11 – Patriot Day 11 – National Hot Cross Bun Day 12 – National Chocolate Milkshake 12 – Grandparent’s Day 13 – National Peanut Day 15 – Yom Kippur Begins 21 – National Pecan Cookie Day 22 – Autumn begins 22 – National Ice Cream Cone Day 23 – National White Chocolate Day 26 – National Key Lime Pie Day 27 – National Chocolate Milk Day 28 – Strawberry Cream Pie Day 29 – National Coffee Day 29 – National Mocha Day
OCTOBER
National Apple Month National Pretzel Month National Caramel Month National Cookie Month National Dessert Month 7 – National Frappe Day 11 – Columbus Day (Observed) 13 – National M&M® Day 14 – National Dessert Day 16 – National Boss Day 16 – Sweetest Day 18 – National Chocolate Cupcake Day
Advertisers’ Index
Carpigiani.........................................11 Costing Manuals...............................19 Dingman’s Dairy................................5 Great Lakes Ice Cream & Fast Food Association...............................15 Hershey Foodservice............4th Cover Hill & Markes……………………..17 Stella Lorens Photography..3rd Cover Negus Packaging Solutions..............22 New England Ice Cream Restaurant Association..................................18 A.Panza & Sons, Ltd...........2nd Cover Prova Gouremet.................................7 Visstun.............................................13
This Advertisers’ Index is published as a service to you, the reader. The publisher does not assume liability for errors or omissions.
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