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Strategic Performance Analysis
July 27, 2023
Published by 
Dan Isard on July 27, 2023
Dan Isard on July 27, 2023As I explained in last month’s column, key performance indicators (KPI) are simple mathematic equations that can help you run your business. When calculating these analysis points, the results are usually shown as a fraction, but if you divide the numerator (the top number) by the denominator (the bottom number) and multiply it by 100, you end up with a percentage. For example, let’s say you want to determine what percentage of your revenue your auto expenses take up. If your total auto expenses are $50,000, and your revenue is $1,000,000, then that fraction is written as 50,000/1,000,000. If you divide the numerator by the denominator (50,000 ÷ 1,000,000) and multiply the result by 100, the percentage is 5%. Now, knowing whether 5% is good or bad business-wise is another story. That takes a frame of reference, and I have […]
June 27, 2023
Published by Dan Isard on June 27, 2023
Dan Isard on June 27, 2023We all look to compare ourselves to others. In the world of business, we can only do this by relying on a common set of indicators. These indicators are called Key Performance Indicators or abbreviated as KPI’s. In the cemetery business, there are only a few reliable KPI’s.I have studied this phenomenon for 40 years. As I reach the end of my career, I feel compelled to raise the subject and explain why it is so. Here Comes the Math KPI’s are expressed as a percentage. As you remember from seventh grade algebra, the percentage is computed from a ratio. To understand the KPI for overhead, you have a nominator that is the Expense over the denominator which is Revenue. Therein is the problem of establishing a KPI for cemeteries. The Revenue is inconsistent because some cemeteries have an emphasis […]
June 27, 2023
Published by 
Nicole Vullo on June 27, 2023
Nicole Vullo on June 27, 2023Add a Traditional Element to Today’s Techie Marketing Strategy Whether it is a conversation with friends and family or your coworkers, it seems everyone these days is talking about all thing’s robots. With all due respect, it is a valid topic. Ever since ChatGPT started to make its presence known toward the end of 2022, the terms “AI” and “automation” have quickly become hot buzzwords. On a lighter note, I can recall a team lunch in our office that started out discussing ChatGPT but quickly segued into a conversation of “what was the name of the Jetson’s maid?” I will save you the Google search: her name was Rosey. My point is that in 2023, all these futuristic elements that we expected to happen at some point in the new millennium are becoming mainstream. And while they are great tools […]
June 27, 2023
Published by 
Chris Cruger on June 27, 2023
Chris Cruger on June 27, 2023Breaking free from old-school beliefs will lift your firm and the profession. Written By Chris Cruger and Alice Adams We’ll begin with the question, “Why are all funeral homes not the same?” Don’t they all remove decedents from the place of death? Don’t they all use the same equipment for first calls? Don’t licensed funeral directors meet with the next of kin? Aren’t the options for services and final disposition the same? Stepping back in history, opening an undertaking parlor meant having a wagon and team of horses to carry the decedent to the churchyard or nearest burial ground. Some combined undertaking with owning or working in a hardware, furniture or general store that doubled as their casket or coffin suppliers. Then they waited for someone to die. When the second generation showed up on the scene, there were telephones […]
June 27, 2023
Published by 
Gabriel Ngo on June 27, 2023
Gabriel Ngo on June 27, 2023Legal Reality Check: Case Study #5 Scenario: Peter Smith is a third-generation owner-operator of P. R. Smith & Sons Funeral Home & Crematory in northeast Florida. He’s in his first few years leading his firm, following in the footsteps of his father, Mark, and uncle, John, who had followed in their father, Paul’s, footsteps. Through the pandemic-heavy years of 2020 and 2021, Peter’s progressive thinking and technology-forward approach allowed the family funeral home to thrive and gain market share throughout the communities they serve. Investing in a complete website redesign in 2019 is one decision Peter attributes to his early success. It transformed the website into a topnotch, “front door” virtual site that truly informs the consumer of the business’ unique designations, options, features and value proposition. The site presents the funeral home’s pricing strategically and transparently. The website also […]