MRAA Launches Cash Flow Management Webinars for Boat Dealers
Sunday, April 5, 2020
Posted by: Matt Gruhn
MINNEAPOLIS, MN — April 5, 2020 — As part of its expanded series of Ask the Expert Webinars, the Marine Retailers Association of the Americas announced today a trio of scheduled webinars, all focused on helping dealers manage their cash flow and financial well-being.
“There’s no question that the cash flow challenge is the No. 1 obstacle our dealers face at this moment,” explains MRAA Vice President Liz Walz. “We’ve had hundreds of dealer conversations and thousands of responses to surveys that have demonstrated over and over that cash flow and its biggest influencers — payroll and inventory management — are top of mind for dealers as they navigate today’s market conditions. In these webinars, we will dig into how dealers manage cash flow during a crisis and deliver insights into how they can improve their financial position.”
On Tuesday, April 7, the Ask the Expert session will feature John Spader of Spader Business Management, who has not only delivered several recession-proofing courses for MRAA’s dealers over the years, but who was also specifically requested by dealers to address this topic. This webinar will address why dealers have such a hard time managing cash flow, as well as the three levels of managing cash flow and when it’s appropriate to use each. It will also include samples of key daily reports or dashboards dealers should create and monitor. You can register for that webinar, “How to Manage Cash Flow in a Crisis,” here.
On Wednesday, April 8, the Ask the Expert session will feature leadership from Garage Composites, whose team regularly scores among the highest-rated speakers at MRAA’s Dealer Week conference and expo. In the effort to put together the most timely and responsive content to support dealers with, the name of this session and specific takeaways are still being finalized, but you can register for the webinar with Garage Composites here.
The Ask the Expert session on Thursday, April 9 will feature the topic “Discovering Financial Opportunities Now: Actions Top Dealers are Taking to Weather the Storm.” During this webinar, our hosts and subject matter expert will discuss how to protect your business and yourself, financially; what you can do to preserve the value of your business; and what actions you can take so that your exit plan stays on track. They will also provide insight into what other dealers are doing to find success in these areas. PLEASE NOTE: This webinar will NOT be recorded and will not be available to watch afterward. We invite you to join us live. You can register for this webinar here.
“MRAA’s educational programming has always been built on a foundation of understanding the needs of our market place and delivering tools and resources that dealers can implement immediately,” explains MRAA President Matt Gruhn. “In a matter of just a couple weeks, our dealers went from focusing on managing growth to being forced to recalibrate their business. This newly expanded webinar series is designed to provide guidance on how to do that, including topics like managing expenses, new methods to drive revenue, and how to manage cash on hand to make payroll and pay their bills.”
Last month, in response to the current health crisis and ensuing economic challenges, the MRAA increased the frequency of its monthly Ask the Expert sessions to provide much more regular and timely topics on the developing situation. After an introductory “town hall” webinar announcing many new resources for boat dealers, MRAA produced three insightful webinars — How to Sell in Today’s Environment, How to Adjust Your Service Business, and How to Market During the Pandemic — the week of March 23rd and another on How to Lead from the Front During Uncertainty last week.
About the Marine Retailers Association of the Americas
At the Marine Retailers Association of the Americas, we believe that for the marine industry to thrive, the retail organizations that interact with the boaters in their community must thrive. With that in mind, MRAA works to create a strong and healthy boating industry by uniting those retailers, providing them with opportunities for improvement and growth, and representing them with a powerful voice. For more information, visit MRAA.com or contact us at 763-315-8043.