What a fantastic experience. In these crazy times where a pandemic known as COVID-19 has dictated how we meet, learn, come to do business and network, NPMA kicked it in the butt and put on a virtual conference which far exceeded expectations.
About a thousand PMPs, vendors and NPMA staff all came together for a few days of intense learning, camaraderie, video programs and networking at Pest World 2020. As part of the show we took a virtual booth where we had over 100 visitors chat and view educational business-building videos.
You can access some of what we shared HERE.
We also had the opportunity to give a comprehensive presentation:
How Does Your Firm Stack Up? Comparing Your Company’s Financial and Operational Metrics to Best-in-Class PMP firms
We started this presentation by asking a very simple question. Why make comparisons in business?
By measuring Key Performance Indicators (KPIs) against your past or others in the industry, you can improve:
1. Efficiency
2. Productivity
3. Help Manage Expenses
4. Identify areas of revenue growth
We spoke about ratio analysis using industry data to evaluate participants’ business performance and develop internal plans to improve. The entire talk revolved around comparing user firms against an industry cost study that PCO Bookkeepers produced that was sponsored by Syngenta.
The data was created from 157 firms in 37 states:
We spoke about using a standard financial chart of accounts in order to make comparisons meaningful. Comparing direct costs such as labor and materials as well as what most firms typically spend on marketing and office and administrative costs. I also included other activity ratios extremely important in driving your firm forward:
For a more comprehensive look into the KPIs and other activity ratios, CLICK HERE.
Final Thoughts
While nothing beats a face-to-face trade show, and quite honestly, I did feel skeptical about what type of results I could expect from a virtual show as a presenter and as an exhibitor, NPMA made lemonade out of lemons. For me, personally, we had several hundred people attend our two thought leadership sessions with an active chat board throughout. I also attended several other sessions, and although they were conducted through virtual technology, the content was as impressive as it always is at Pest World. A special shout out to Russ Ives, CEO of Rose Pest Solutions, for referencing our work in his presentation.
While no one knows what the future will bring, I think NPMA has found an additional tool for engagement in doing virtual events, and you can definitely expect to see us participate as presenters, exhibitors and thought leaders at future events.
