Know Your Financials!

Minneapolis Breakfast Club Newsletter January 22,2020

Early Birds: Dick Anderson came in with a club picture from the 1990’s and was followed by Robert Sandberg.

Guests: Marsha Golob, an event and wedding planner was a guest of Mark Simon today. Cathy Daluge was also here today.

Honorary Members: Tom Donnelly, Russ Bremner, and Mark Simon were in attendance today.

President Chuck Shreffler brought the meeting to order with a ring of the bell and a moment of silence. He needs help with an icebreaker so send him a joke, though you would think a lawyer has a huge repertoire of lawyer jokes….

Announcements:

  1. Jim Erickson will be conducting an election poll throughout 2020 and gave us the results of the first ballot. 54% for Trump and 47% for the Democrats.
  2. Thanks to Karen Holtmeier for asking the Edina Country Club to serve Egg Benedicts this AM.
  3. Ed Crandall is having cataract surgery today. Apparently, he has lots of people keeping an eye on him.
  4. Several folks had checked in with Tom Ashbaugh and his advice is to listen to your spouse and see a doctor if you have abdominal pain.
  5. The new club directories are available. Take two with you. Thanks to Dwain for the printing.

Business Networking: Windrider has released their ice fishing apparel. LVC and Houselift are looking for sales staff.

Business Exchange: Catherine Moore, Julius Wright, Dwain Coleman, Bill McReavy, Kelsey Knight, Joe Kankovsky, Keith Kovacevick, and Tony Rubin all shared business with members.

Business Updates: None Today

Table Introductions: Table #4 was introduced by Dick Anderson with a theme of “Your favorite sports memory”.

Pot of Gold: Todd Anderson drew 5 cards and the big winner was Mike Palm.

Craft Talk:

Todd introduced our craft speaker, Peter Eaton of B2B CFO.

Peter is originally a kid from Duluth and is married to Lauren for 38 years. He has 2 sons and 4 grandchildren.

Todd had a few anecdotal stories from Peter about hunting and fishing has a young man.

Peter updated us on what he has been up to.

Last October Peter started a part time job with his brother in law running a company in Monticello. So after being a banker and a finance professional, he has to actually operate a company.

Back to B2B CFO, Peter had a presentation on Balance Sheets and Income statements and how they tell a story about your company. “Where you are today” is a balance sheet. An income statement is “Where you have been”. He tends to think you need 3 years of data to show a trend.

At the end of the day, those who value and help finance your company are always looking at cash flow as a key component. Both Operating cash flow and Investing cash flow are looked at.

For more info and a discussion on how B2B CFO can help you just contact Peter.

Register for the Pot of Gold with Peter Eaton at petereaton@B2BCFO.com or 612-227-6436.

Looking ahead

January 29 is a guest speaker, Abigail Prosser, with a talk on “Ultimate Power: What is it and how to tap into it?”

February 5 is Resultants for Business at ECC

February 12 is Electronics Design at ECC

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