Profit Metrics Program - explainer video
Profit Metrics is a 3-stage program that builds reliable profits and predicable cashflow into your business
Virtual CFO Association wins 'Network of the Year' at Australian Accounting Awards
Are you wearing a kilt?.....with 3 in the cupboard it's more like which kilt are you wearing? This one is Farquharson tartan. I've worked really hard over the past 3 years to earn the right to wear it, with the Pipe Band I play in , Sydney Thistle. Very happy to accept the...
Who is going to make the next generation of accountants 'job ready'
Problem is that if you ask the Uni's, Govt, CA, CPA or industry separately, you'll just get the reasons it can't work and the same explanations over and over again. • industry thought leaders questioning the value in obtaining a Uni education, based on their experience and...
Tools do not maketh the Tradie
A new tool like a power-saw does not have magical powers to turn a bad tradesperson into a good one, however there is an old saying that has been around centuries that says a bad worker will always blame their tools.
But it also holds true that modern equipment and po...
You could be paying a heavy price for having a financial decision-making blind spot.
A lot of companies have Accounting Routines passed down by person to person and learned by rote, that provide a rudimentary accounting function which meets the minimum standard for tax compliance.
The way we always have done it here’ is not the same thing as global...
What does Root Canal treatment and Virtual CFO have in common?
Nobody WANTS to get a root canal treatment. Until you’ve NEEDED root canal treatment you can’t possibly imagine the pain you experience prior to getting it done.
What starts as a tooth being sensitive to high and low temperatures or pain when chewing qui...
Profit Metrics - Free download
Profit Metrics is a must read for business owners looking to build foundations to grow a solid, sustainable, predictable business to 7 figures and beyond. Follow the journey of school-boy Billy Laker, from floor sweeper at Poppy’s bakery shop, to the worlds’ best pie make...
3-Levers – Essential guide for increasing Profit $
July 15, 2020 - Ever wondered what expert Company Directors see in the financial statements that others can’t? How do they use a report full of numbers to dissect the performance of a business? They start with a quick look at the ‘result’, i.e. the Profit/(loss) then...
Ongoing oversight to maintain high standards
July 10, 2020 - Without anything or anybody to hold people accountable for maintaining high standards in an organisation, people will naturally gravitate towards things that they enjoy doing and are good at. (usually these two go hand in glove). The yard stick of productivity,...
Revenue is vanity, profit is sanity but cash is KING
June 26, 2020 - Cash flow management is where the current financial position, future performance and sustainability of a business all converge. It’s also the area that ‘exposes the rocks when the tide goes out, or put another way, it’s where the accumulation of problems th...
Forecasting predicts (a) future
A rolling 12-month revenue forecast becomes one of the key leading indicators of the future, because fluctuations in profitability usually directly correlate with fluctuations in revenue. Given the high level of dependence on a forecast then, make sure you evaluate strategic d...
Why bother with Budgeting?
June 25, 2020 - A budget is your businesses future focused plan or projection of how to control costs and earnings, based on what you know – now. It maps out the expectations of what the company aims to achieve and is recorded in a document or documents. It encourages business ...
There is more to strategy than just talk
June 24, 2020 - When discussing strategy, an un-costed idea is just that – an un-costed ideas. Until you have put the effort into building a financial model to show the financial outcome (as a discounted cash flow calculation) of the ideas, then you cannot call it a complete st...
The Business of Architecture
The essence of managing a successful architectural project is delivering what the client expects, on schedule and within budget. Essentially profitable firms all need to manage people, projects and profit well to succeed –this is my ‘take’ of the 3 big issues within the ...
Reporting gives you feedback on strategy
Strategy starts at the top with a vision and that comes from the founders. You cannot buy a vision from off the shelf and too often, people confuse thinking tactically with thinking strategically. The two terms are not interchangeable. Strategy rolls downhill from the Vision and ...
Strategy brings a lot of businesses unstuck
June 22, 2020 - You cannot be all things to all people. By adopting a strategic position, deciding to be either a cost leader or to differentiating yourself, the aim is to emerge with a sustainable competitive advantage over other competitors in your sector. I think many busin...
Reporting is the foundation of Reliability
June 18, 2020 - Every owner wants peace of mind from having a reliable and predictable business. Reporting is the foundation of the – reliability element of business management. Reliability in reporting means routinely being accurate, verifiable and complete. Reporting i...
The 1-Page Management Report
I have always worked on the principal with management reporting, that if I was down to my very last sheet of paper and my life depended on it, how would I convey the right message to the decision makers. In this respect reporting is highly creative. Management reporting, t...
When will it be safe to ‘return’ to work
May 8, 2020 - Wondering when we are going safely ‘back to work’ is on everyone’s mind and people are having mixed feelings. For many the fear and trepidation of catching COVID 19 is paralysing, whilst others are really missing the interaction as the novelty of WFR wears off...
Who’s going to make next-Gen ‘job ready’?
April 28, 2020 - This topic about getting our next generation of accountants ‘job ready’ always generates some great debate. There’s never a shortage of comments from within the accounting industry, the professional bodies and the universities with a view of who’s resp...
Nothing ever goes to plan
Your Budget is a plan. The thing about plans, everyone knows is……. nothing ever goes to plan. I’ve heard people say “We spent a bunch of time doing a budget up – surely that’s good enough?” I say, “Only if each step of the way things remains identical to t...
Revenue Forecasting
April 14, 2020 - Service businesses have a high proportion of fixed and non-discretionary running costs. Because if this a rolling 12-month revenue forecast becomes the key leading indicator of the future, because fluctuations in profitability usually directly correlate with f...
Survival and starting again
April 14, 2020 - As the twin crisis takes it’s grip on SME business, desperate owners are turning to their trusted advisors. Broadly, there are 2 separate problems they want answers for: How to survive and how to start again. For many immediate survival is centred around...
Tough times call for tough action – do you need to cut your CFO back to P/T?
March 23, 2020 - Let’s face it, if you are operating a business that all of a sudden has found itself in a struggling industry, the only way you will survive is to mitigate by drastically cutting costs. Miti-gate or close-the-gate. There is no magic wand. Your CFO isn’t go...
The Ultimate in validation for virtual working
In the midst of the news of the federal and state government’s dramatic social distancing measures to reduce the infection trajectory of the COVID-19 curve, remote working has become the new norm. Now every CFO is now operating as a Virtual CFO. I understand too well how sad...
Trevor the Truckie and the benefits of a Virtual CFO
March 18, 2020 - Training Wheels Trevor had a love of trucks going right back to when he was a small child. His family had grown up in a small country town located about halfway between 2 capital cities on a main interstate highway. The town was better known as a change-over...
Harry the Architect and the benefits of a Virtual CFO
March 18, 2020 - Everyone starts somewhere Harry was a very talented young architect. His fascination with drawing buildings started as a kid. Throughout school he continued his passion and did very well at tech-drawing. This led him to enroll in Architecture at University. ...
