“Everybody in our company knows how he or she makes a difference,” says Fuce-Hobohm. The financial literacy training has also helped create that line of sight for associates as well: In a recent company survey, 100% of employees reported that they understood how they as individuals could impact the company’s bottom line. Now, by teaching the financials, we have the ability to share what we know with the team so they can help us achieve the goals we set together, rather than pushing them to achieve the goals we set for them.” One result, gross profit is up some 3% – which is just about unheard of their industry. “Some people would ask questions, but the rest figured it didn’t affect them.
“It used to be you could see everyone’s eyes roll and hear some snores whenever I presented any financial information,” says St. Louis, put together a comprehensive financial literacy training program for SPACE Inc.’s associates that they call “Easy Beans.” The goal of the program was to make learning the financials fun and approachable to associates who would likely rather be designing and developing funky interiors. Inspired by what they saw, Fuce-Hobohm and her VP of Finance and Administration, Colette St. learned about the Great Game of Business on a visit to Zingerman’s in nearby Ann Arbor, MI. “I didn’t understand the business of running the business when we got started.” A breakthrough occurred in 2013, when a team from SPACE Inc. “We would either accidentally make or lose money,” she says.
NATIONAL OFFICE FURNITURE TESSERA HOW TO
The rub was that while Fuce-Hobohm knew how to create great office interiors, she didn’t have a strong financial acumen. So Fuce-Hobohm and her partner decided to open their own business instead. At the time, Fuce-Hobohm worked for a larger company that decided that it was going to close down their location. 23 years ago, they were what you might call “accidental” entrepreneurs.
Rapid Financial Results Lasting Cultural Changeįuce-Hobohm admits that when she and a business partner founded SPACE Inc. Kathie Fuce-Hobohm, Dealer Principal, SPACE Inc.
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