The first seminar began this week, with new ones scheduled this summer. Thousands of business owners, managers, bankers, accountants and consultants have taken the Profit Mastery course over the past 25 years; however, this is the first time it has been offered in the east central Florida area, said Van Canada, manager of the SBDC at Daytona State and course facilitator.
"Statistics show that over half of all businesses that fail each year do so despite reporting profits and record sales,” Canada said. “The most successful businesses have found that the key to sustainability revolves around effective financial management. The SBDC is committed not only to helping startups, but also to the long-term success of the area’s small business community by providing quality programs of this kind.”
Profit Mastery is a 16-hour, intensive seminar that helps owners and managers of what SBDC calls stage 2 companies better understand financial management and increase their chances of success. A stage 2 company is one that has been in business at least three years, has over $500,000 in revenues and at least three employees. The program includes presentations, case studies and discussions of real-life examples related to financial statement analysis; cash flow planning; planning for growth; cost, volume and pricing issues; and determining the right kind of business financing.
David Fuller, president of SunTrust Bank’s Central Florida division, speaking on behalf of The SunTrust Foundation, said, “SunTrust is proud to partner with the SBDC in support of the Profit Mastery program. This initiative aligns with our commitment to support business entrepreneurial education programs and help businesses grow and prosper.”
The SBDC at Daytona State is a partnership with the University of Central Florida and the U.S. Small Business Administration. Its offices are located in Bergengren Hall on DSC’s Daytona Beach Campus, 1200 W. International Speedway Blvd.
SBDC’s team of certified professionals provides management advice and training to potential and existing entrepreneurs. Consultant expertise focuses on areas vital to accelerating business growth, including feasibility analysis and start-up assistance; strategic market research; business and strategic plan development; market and revenue growth strategy development and implementation; capital access and loan packaging; financial analysis and assessment; and accounting systems and financial literacy.
For more information about the next scheduled Profit Mastery seminar or other SBDC services, contact Canada at (386) 506-4723, CanadaV@DaytonaState.edu.
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