Summary

In this episode of the Tapped In Sales podcast, Bud and Mike interview Kary Shumway, a financial guru for beer distributors. Kary shares his journey in the beer business and how he became an expert in finance for the industry. He emphasizes the importance of financial literacy and training for all employees, from drivers to sales managers. Kary also discusses the challenges that distributors face, such as understanding their numbers and managing costs. He highlights the need to focus on cash flow and gross profit, and suggests creating a culture of collaboration and communication to break down silos within the organization.

Takeaways

Chapters

00:00 Introduction and Overview

01:32 Kary's Journey in the Beer Business

03:24 Importance of Financial Literacy

07:36 Engaging with Beer Business Finance Association

10:30 Common Financial Challenges for Distributors

11:54 Key Financial Metrics to Track

17:35 Cost Management Strategies

23:35 Driving Profitability through Gross Profit Management

27:28 Building a Positive Sales Culture and Breaking Down Silos

35:39 Contacting Kary Shumway

36:37 Conclusion