I spent the first week of November in Sheridan Wyoming working with EMIT Technologies. I was able to fly into Billings, Montana and take a nice country drive through beautiful country for about 2 hours. It was quite a contrast from my last trip two trips that took me from Australia to Shanghai to Manila to Toronto. No passport needed for this trip and no time change either…nice.
Spent two days training finance all sponsored by EMIT. The first day I trained EMIT’s leadership team and the second day I did a public class at the local community college sponsored by EMIT. Both days were great from my point of view.
EMIT is a growing successful company that is looking to get their leaders better connected to the financials. We did a course that focused on the three statements the income statement, the balance sheet and the statement of cash flows. Since we were working with EMIT we looked at their statements, we find that using actual numbers for a business makes the class much more meaningful for those attending. That was certainly the case with EMIT. As a mid-sized private company many of those attending were new to financial statements and EMIT specific numbers. Having shared financials in my own small manufacturing company, I could certainly relate to the issues and training required to get employees and managers involved in the numbers.
The group asked a lot of good questions and they were very involved. EMIT is a very healthy strong business and the numbers supported that. EMIT found us when a key executive in the business got a copy of our book Financial Intelligence and read it in a day. I never thought of our finance book as a page turner but in this case it was.
At the community class on the second day we focused on the three financial statements and used Apple, Inc. as our example company. The session had over 50 people in attendance and for a large group the interaction was great. We learned about the crazy cash balances that Apple sits on and how they are perceived in the stock market. One thing I learned from doing this session is that most of the attendees were small business owners and not that interested in a large publicly traded company like Apple. On the other hand the way we would analyze Apple is the same as a small start-up in many ways. Learning how to calculate the ratios allows you to be ready to calculate the ratios for your business or another business you may be interested in investing in.
Based on the reviews the day was a success and the number of attendees was impressive for a town of less than 20,000. EMIT turned out to be a great host and Sheridan is a pretty little town. Both days were great days for finance!