Many manufacturers think they have a sales process to land new business. But in reality, their “process” is little more than a series of administrative steps they follow. While these steps can lead to new business, they’re often less successful, not predictive and not in tune with their buyers’ needs. On this episode of Moore on Manufacturing, Ed Marsh returns to explain establishing a real — and effective — sales process and methodology.

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On this episode of Moore on Manufacturing, we wrap up 2023 and discuss the economic outlook for 2024. The economy seems to be bouncing back after a few rough years since COVID impacted the world. But uncertainty, problems and fear of the unknown are always factors when heading into a new year. While you can’t predict the future, familiarizing yourself with trends and challenges can help you and your business better respond.

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On this episode of Moore on Manufacturing, we discuss a common year-end topic: tax planning. Many business owners wait until it’s too late to start planning for their income taxes—mostly due to being “too busy.” Yet properly planning for income taxes impacts not only how much you pay Uncle Sam, but the cash flow available for your business operations as well. The old adage of “cash is king” rings true; preserving as much cash as possible is key to running a successful business and preparing for the future.

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On today’s episode we are joined once again by Ed Marsh, a business management consultant who has founded and operated several businesses. On this episode we discuss building a 2nd or 3rd deviation sales team—including what that means, the common problems to watch for in your sales team, and the steps you can take to begin improving its performance.

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On this episode we’re joined by Katie Howard, Senior HR Consultant at James Moore. She’ll have an update on HR-related issues — including a potential significant change by the Department of Labor that, if passed, will have an impact on overtime pay requirements. We’ll also discuss workers compensation considerations and how compliance can have an impact on your business’s value.

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On this episode we talk about the ins and outs of sales taxes for manufacturers. The complex realm of sales tax is made even more complicated by the fact that states have different rules. So we're joined by Melody Lechleidner, a director with our State and Local Tax Team, to discuss when sales tax applies, what is exempted and the documentation you need to keep.  

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Today Mike and Kevin welcome special guest Ed Marsh, a business management consultant with Consilium Global Business Advisors, LLC. Together they discuss components you can use to increase the value of your manufacturing business. This includes how to create value, process improvements in sales and marketing, and changing your business mindset — all to help develop long-term value.  

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On this episode, Mike and Kevin discuss Lean and continuous improvement for administrative processes, specifically those in accounting. One of your accounting department’s goals is to complete the monthly closing process quickly and accurately so you have the info needed to make crucial business decisions. All too often, however, accounting processes are bogged down by unnecessary steps or delays. Improving these processes leads to quicker results—so your accounting team can focus more on proactive financial analysis.

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When business owners think of retiring, selling or simply passing the business on to the next generation, they often start planning in the eleventh hour. Transition planning, especially if you’ll be selling your business, should really start several years in advance to ensure you achieve your goals and maximize your return. On this episode we discuss selling your business—and the important role your financial statements and systems play in what is likely the biggest transaction of your career.

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On this episode of Moore on Manufacturing, Mike and Kevin discuss cash flow management strategies, tips and techniques. Cash flow is critical for all businesses, whether you’re growing, holding steady or faced with a downturn in business. Being proactive in cash flow management and improvement helps ensure your business is doing everything possible to maintain strong cash flows—and be ready to react should circumstances change.

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To learn more about the James Moore Manufacturing Team: https://www.jmco.com/industries/manufacturing/