RESULTS RELEASED!
The CPAA and Profit Soup are proud to present the results of the 2019 Financial Benchmarking Study.
The purpose of the project was to demonstrate possibilities by measuring real financial results of member companies. This helps CPAA members identify opportunities to manage, giving them feedback on how their results compare to similar companies.
The Report is available for CPAA Members to download now! If you are not a member of the CPAA but would like a copy of the results please don't hesitate to contact us on 1300 136 636 or email us at info@cpassoc.com.au.
In 2019, the CPAA will deliver the first Industry Benchmarking Study for Concrete Pumpers in Australia.
FIND OUT about the study & WIN A $1,200 STRATEGY SESSION
The response from Stuart Donaldson's Toolbox Talk "Benchmark your Business" at the Expo was so overwhelmingly positive, we've asked him to do it again! This time live and online, but don't worry if you missed it, we recorded it! This could be the most impactful 15-minute investment you'll make in your business all year!
If managing the financial side of business isn’t your strong suit, the CPAA can help. Working together with trusted advisors, Banyan Co and Profit Soup, we are on a mission to identify, measure and effectively share the critical business metrics for our industry.
We'll create a yardstick from which you can assess your business performance, in terms of dollars and cents and answer questions like:
How much profit should a company my size be earning?
Am I spending too much on labour or equipment repairs?
How many employees should I have to support my current turnover?
Do I have enough equipment - or too much?
Am I managing my cash properly?
Do I have too much debt?
We'll measure what counts. You'll see how you compare to the best in the business. We'll outline your pathway to improvement. Then it's up to you execute and hold yourself accountable for driving more profit and cash.
What are the Benefits for my business?
Participants receive a confidential financial assessment for their own business as well as “state of the industry” report, including key financial metrics. Your assessment will highlight how your results compare to the top performers and companies your size.
- Pinpoint areas of opportunity by comparing how your operation performs financially to the best in the business.
- Prioritise your focus for maximum impact on profit and cash.
- Fully understand your current financial position and determine strategies to build the strengths you'll need tomorrow
- Grow your business intuition by seeing your financials through a new lens.
The first 20 companies to submit their surveys will go in the draw to win a $1,200 one-on-one strategy session with business coach and financial advocate, Stuart Donaldson.
HOW CAN I GET INVOLVED?
Participation is open, encouraged and free for CPAA members who operate concrete pumping companies. The study will compare aggregate results representing industry averages, through to the top, most profitable performers, to demonstrate just how the best in the business outperform the rest.
We know that confidentiality is important, which is why we’ve selected Profit Soup as our trusted partner for the project. Only Barbara Nuss, CPA of Profit Soup, and select members of her team will have access to individual company results. No company-specific information will be shared with the CPAA or anyone else. Only aggregated figures are shared in the reports.
Profit Soup has conducted similar studies for the American Concrete Pumping Association and the Crane Industry Council of Australia. Those that have participated in these projects appreciate the incredibly valuable insights they gained by seeing how their results compare to similar companies. By using the study, alongside their confidential financial assessments, decision makers create a business improvement plan with measurable objectives.
Who knew the financial side of the business could be so fun?
"We thought we knew our business, we thought we understood how to drive our success, and then we met Stuart. What a revelation!"
-Trevor and Nikki Drake, Solid Racks, Brookvale, Sydney, Australia
CURIOUS ABOUT BENCHMARKING YOUR BUSINESS?
Jump on board with the project today! More participation provides better, more reliable benchmarks. At no cost to members and with the confidentiality assurances of a professional benchmarking firm, why wouldn’t you participate and benefit from the rich information this report provides?
Complete the study and return to Barbara Nuss from Profit Soup via CPAA@profitsoup.com
Don't have time to fill out the entire survey? Simply answer the general information questionnaire and submit it with your accounts, then let Profit Soup do the rest!
