Customized Profit Action Plan Available for CEDIA Members
A new Profit Action Plan tool is available for CEDIA members. The tool provides business owners with a customized report outlining how their company compares to companies of similar size, the industry median and the most profitable companies. Similar reports can cost more than $2,500.
"The Profit Action Plan is a benefit all home technology professional members should utilize. Each company's plan includes detailed perspectives and suggestions on a variety of key business pain points such as inventory management, controlling expenses and of course generating revenue. Home Technology Professionals really have no excuse not to take advantage of an expert's analysis of their company to understand how they can improve," Cris Pyle, CEDIA Senior Director of Marketing, said in a statement.
CEDIA states that the Profit Action Plan can be completed in 30 minutes. In order to complete the plan, CEDIA members must complete a questionnaire and submit their balance sheets and income statements to CEDIA's confidential project vendor, Profit Planning Group.
According to CEDIA, CEDIA staff and leadership will never have access to individual company information at any time.
The output is a personalized 25-page document and access to the Profit Tool Kit, an online worksheet aimed at helping home technology professionals test and plan improvements to increase their firm's profitability.
CEDIA members can start submitting their materials for their customized Profit Action Plan now.