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Mapping Out a Future

Tire Review Staff
By Tire Review Staff
Published:

Big firms aren’t the onlyones that can do financial forecasts. Even a single-location tire shop canproject financials for the years ahead.

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Financial forecasts allowfor better strategic planning, cash-flow analysis, loan compliance, investoropportunities and business valuations. In short, it’s a tool you can use toplan for the future and best use your resources.

If you do decide to do afinancial projection on your own, consider using software or Web sitetutorials. Or, experts at a local small business development center will often adviseyou at no charge.

If you decide to hire anaccountant to do the forecast, be sure to supply all the relevant financialinformation, including pricing, taxes, overhead, income, sales, competition,where you see your business going in the next three to five years, and so on.

– Source: Tire ReviewBusiness Toolbox

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I’ve spoken to many representatives from manufacturers, wholesalers and retailers who report that techs, counter people, drivers and even white-collar team members have walked off the job, failed to report, or given notice, and their businesses have been impacted by these departures. This isn’t just a tire industry issue—and goes beyond the tech shortage that

Phillip Kane
By Phillip Kane
After beginning his career as a paperboy, Phillip Kane went on to spend more than 25 years in some of the best-known automotive, industrial, consumer durables, distribution and banking businesses in the world. Currently, Phillip is CEO and Managing Partner of Grace Ocean, LLC a boutique advisory firm located in northeast Ohio serving clients ranging from Fortune 500 corporations to mid-market private-equity-backed firms. Phillip also acts as a Senior Advisor to Stout Risius Ross and Rothschild & Co, where he brings operational expertise to their investment banking businesses. Previously he was the Chief Commercial Officer in Key Markets at Pirelli in Milan, Italy working in their commercial truck tire business. Prior to Pirelli, Phillip spent 11 years working for the Goodyear Tire & Rubber Company. Before that, Phillip held executive roles with Genuine Parts Company (NAPA) and Snap-On, Inc. He is the author of the book, The Not So Subtle Art of Caring: Letters on Leadership from John Hunt Publishing, London. He is a contributor to Inc. Magazine and Tire Review writing on leadership issues and topics relevant to the trade and currently lives in Akron, Ohio, the rubber capital of the world.
Published:
Tire Industry-Labor Shortage-Great-Resignation

I’ve spoken to many representatives from manufacturers, wholesalers and retailers who report that techs, counter people, drivers and even white-collar team members have walked off the job, failed to report, or given notice, and their businesses have been impacted by these departures. This isn’t just a tire industry issue—and goes beyond the tech shortage that has plagued the industry for decades.

Read Full Article

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