Groundwater professionals get schooled on business profitability at NGWA Ground Water Expo

LAS VEGAS, NV, Dec. 8, 2010 -- Many businesses -- including ones in the groundwater industry -- cannot answer basic questions about profitability, which puts them on the endangered list, a business expert told attendees at the National Ground Water Association (NGWA) Expo and Annual Meeting on its opening day Tuesday.

The good news is that understanding some financial basics can empower companies to effectively plan for profitability, said Steve LeFever of Profit Mastery University, a lecture program. Beginning in January, the Profit Mastery University program will be available to NGWA members at a discounted rate.

A former commercial banker, LeFever said only about 15 percent of businesses seeking loans can answer simple questions about profitability because they don't measure and plan using basics such as fixed and variable costs against sales. "What gets measured gets managed," said LeFever, so it's not surprising that 80 percent of start-up businesses across sectors fail in the first seven years.

LeFever gave a sneak preview of the Profit Mastery University program in two presentations at the Expo on Tuesday -- Break Even 360 Degrees: The Absolute Best Tool to Drive Profitability, and The Most Important Thing to Do Now. Typically delivered in a classroom setting over two days, the Profit Mastery program soon will be accessible 24/7 via online streaming, high-definition video filmed in front of a live audience.

Learn more by visiting www.ngwa.org .

NGWA, a nonprofit organization composed of more than 13,000 U.S. and international groundwater professionals -- contractors, equipment manufacturers, suppliers, scientists, and engineers -- is dedicated to advancing groundwater knowledge. NGWA's vision is to be the leading groundwater association that advocates the responsible development, management, and use of water.

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