Podcasts about profitandloss

Robert Winfree, Alexis Hejna and Mark Radulich present their 2024 Year in Review/2025 Schedule and Preview Show!This episode is packed with reflections, evaluations, and anticipations that are sure to excite film enthusiasts and industry followers alike.Our discussion begins with each of us revealing our top movies of the year. From the awe-inspiring blockbusters to the hidden gems that left a lasting impression, we'll explore the films that defined 2024 for us. We'll also cover our personal picks for the worst five movies of the year—those cinematic missteps that missed the mark, sparked frustration, or simply failed to deliver. Additionally, we'll highlight honorable mentions, celebrating films that may not have made the top tier but were nonetheless noteworthy for their creativity, performances, or impact.As a cornerstone of this review, we'll use our detailed spreadsheet to analyze the financial outcomes for the major film studios in 2024. This comprehensive breakdown will illuminate which studios came out on top and which faltered in the ever-competitive film market. The spreadsheet includes data for Universal, Disney, Warner Bros., Sony, Paramount, MGM Amazon, Lionsgate, A24, and Neon, among others. We'll scrutinize the Total P&L by Studio sheet to identify the studio that generated the most profit and the one that faced the most financial challenges. Additionally, the Sorted by Profit sheet will guide our conversation about which films were standouts in terms of profitability—the ones that brought studios significant returns on investment—and which projects struggled to recoup their costs.Our analysis will include both qualitative and quantitative insights. We'll reflect on the strategies employed by each studio, the impact of marquee franchises, the rise of original content, and the shifting preferences of moviegoers. How did the highly anticipated tentpole releases perform? Were there surprises in the indie or mid-budget categories that gained traction? We'll also discuss how marketing, release timing, and competition influenced the financial landscape.To wrap up the episode, we'll look ahead to the film slate of 2025. Our team will finalize which films we plan to review between now and December 2025. This forward-looking discussion will touch on the most anticipated releases, emerging trends, and the potential for certain genres or filmmakers to dominate the upcoming year. Whether it's the latest installments in beloved franchises, bold new originals, or adaptations of popular IPs, we'll outline what listeners can expect from Damn You Hollywood in the months to come.This episode serves as both a retrospective and a preview, offering a comprehensive look at the state of the film industry as one year closes and another begins. By combining our personal perspectives, detailed data analysis, and informed predictions, we aim to provide an engaging and insightful conversation for movie lovers and industry watchers. Don't miss it!Disclaimer: The following may contain offensive language, adult humor, and/or content that some viewers may find offensive – The views and opinions expressed by any one speaker does not explicitly or necessarily reflect or represent those of Mark Radulich or W2M Network.Mark Radulich and his wacky podcast on all the things:https://linktr.ee/markkind76alsohttps://www.teepublic.com/user/radulich-in-broadcasting-networkFB Messenger: Mark Radulich LCSWTiktok: @markradulichtwitter: @MarkRadulichInstagram: markkind76RIBN Album Playlist: https://suno.com/playlist/91d704c9-d1ea-45a0-9ffe-5069497bad59

In this conversation, the hosts discuss the importance of knowing your numbers in business and the role of bookkeeping and accounting in managing finances. They highlight the difference between profit and loss statements and balance sheets, and how understanding both can help with financing and decision-making. They also emphasize the need for business owners to delegate and trust experts in different areas of their business, and the importance of regular communication and financial reviews. The conversation touches on the concept of merit-based pay and incentivizing employees based on performance. The conversation explores the motivations and goals of the participants. They discuss the appeal of performance-based pay, the desire for excellence, and the importance of knowing one's numbers in business. They also touch on the idea of legacy and the desire to build something meaningful. Each participant shares their personal reasons for doing what they do and their visions for the future.TakeawaysKnowing your numbers is crucial in business and can help with decision-making and financing.Understanding the difference between profit and loss statements and balance sheets is important for accurate financial management.Delegating and trusting experts in different areas of your business can lead to better outcomes.Regular communication and financial reviews are essential for staying on track and making adjustments.Merit-based and performance-based pay can incentivize employees and improve overall performance. Performance-based pay can be attractive for those who strive for excellence and want to be recognized for their achievements.Knowing your numbers is crucial in making informed business decisions and ensuring financial success.Building a legacy and leaving a lasting impact are important motivations for many entrepreneurs.Having a clear vision and setting goals are essential for personal and professional growth.Finding fulfillment in work and enjoying the journey are key to long-term success and happiness.Sound Bites"If you don't know your numbers, what's your saying? Isn't it like know your numbers or something like that?""You don't have to be an expert in everything. Find someone who is the expert in that task and figure out how you provide value for them.""You have to be able to have someone like Harley and his team. You have to have a good accountant. You have to have someone that's good in HR. You have to have someone that's a good banker that works with your accounting people.""I don't need mediocre people on my team. I'm trying to be an all-star team, all-star business.""I want to have an all-star company. I want to demand excellence with my team.""I realized we're probably 10 years out. It is a trek. I bet you can move faster. We could. We absolutely could."Chapters00:00 Introduction and Coffee Blend Advertisement02:24 Business Growth and Working with Get Better Bookkeeping08:09 Repetitive Conversations with Clients and the Importance of Knowing Your Numbers11:47 The Value of Regular Communication and Financial Reviews23:31 Incentivizing Employees with Merit-Based and Performance-Based Pay29:29 The Importance of Knowing Your Numbers and Trusting Experts36:28 Case Study: Incentivizing Employees Based on Performance42:36 The Appeal of Performance-Based Pay47:04 The Importance of Knowing Your Numbers50:12 Building a Legacy and Leaving an Impact58:27 Setting Goals and Striving for Excellence01:13:47 Finding Fulfillment and Enjoying the JourneyGET YOUR FRESH BREWUSE “BREWS” FOR 10% OFF YOUR FIRST ORDERWe are thrilled to welcome Gregoron Coffee Roasters as our newest partner. Locally owned and operated out of Owasso, Oklahoma, Gregoron Coffee Roasters is dedicated to providing fresh, made-to-order coffee. Our special B&B blend varies based on available supply, offering a unique variety of coffee beans from around the world.https://www.gregoroncoffeeroasters.com/storeBecome a supporter of this podcast: https://www.spreaker.com/podcast/brews-business--5630487/support.

Grace and Alvina continue their "publishing curriculum" series and talk about the acquisitions process, including what happens at editorial meetings, the mysterious acquisitions committee, red flags for editors, how auctions work, and more!  See complete show notes at www.bookfriendsforever.com. Click here to become a Patreon member: https://www.patreon.com/Bookfriendsforever1. See info about Grace Lin's books here: gracelin.com. Follow us in Instagram: https://www.instagram.com/bookfriendsforever_podcast/

This episode will breakdown the essential data points in your profit and loss statement. It will give you industry standards on notable metrics connected to your profit and loss statement. It will also share strategies on how to build a budget based on your profit and loss. http://www.wellnessworksmp.com

Lindsey Head is an award-winning CFO, and financial and visionary leader, providing business owners with proven financial guidance and operational strategies to facilitate exponential business growth. Lindsey currently serves as an independent financial consultant to business founders. She is also the Co-Founder of Curls Poppin (CurlsPoppin.com) and creator of PlanSecurely.com (a digital life organization software - in beta mode). Lindsey has served as the Chief Financial Officer for J Public Relations, Inc. an award-winning PR Agency where she has been instrumental in managing their financial growth from $750k to $14M+ in annual revenue while growing headcount from 7 to 75+ employees and expanding the business from San Diego to Santa Monica, New York, and London. Her expertise includes leading an international acquisition for the agency. Lindsey has collaborated with clients ranging from startups and small businesses to large corporations. She has served as the CFO for a successful money management firm (AUM = $250M) where she managed all financial and business operations, as well as compliance and investor relations. Lindsey also led business and financial operations for a mobile tech startup that was acquired by Yahoo! in 2014. Inside of this episode, Lindsey shares how to organize systems and strategies for your business to create lasting financial success.  If you would like access to the article Lindsey wrote on automation, email us at connect@kaelroberts.com and we will happily send you the PDF

@Sir Stephen Wilkinson  is the  founder of @Good & Prosper,  a knowledge business for #entrepreneurs and #business owners. He educates #businessowners about #businessvalue by helping them become fluent in the #languageofbusiness.In our discussion we talk about; the shortcomings and opportunities related to the traditional approach to #managingfinances in a typical small businessthe upside of increasing #financialliteracyhow to understand the story your #businessnumbers are trying to tell youthe importance of always understanding and regularly assessing the value of your business value, in the same way that #listedbusinesses#confidentcapitalismhis unique pathway to #finance from studying #literature and #artsthe importance of seeking out a #mentor to teach you in those formative early years of being a #businessowner#advisoryboards and mentors in #smallbusinesswhy #owners and #advisers need to look at the #balancesheet and not just the #profitandloss the need for business owners to take responsibility and say;I want to learn this stuffI want to know how it works, and What I can do betterwhen the best accountancy practitioners in the world can't help you@Jack Stack and the Great Game of Business, which effectively teaches the importance of finance and sharing financial information with the entire company. in order to get everybody on board and understand how to play the game@kerrcapital 

@Sir Stephen Wilkinson  is the  founder of @Good & Prosper,  a knowledge business for #entrepreneurs and #business owners. He educates #businessowners about #businessvalue by helping them become fluent in the #languageofbusiness.In our discussion we talk about; the shortcomings and opportunities related to the traditional approach to #managingfinances in a typical small businessthe upside of increasing #financialliteracyhow to understand the story your #businessnumbers are trying to tell youthe importance of always understanding and regularly assessing the value of your business value, in the same way that #listedbusinesses#confidentcapitalismhis unique pathway to #finance from studying #literature and #artsthe importance of seeking out a #mentor to teach you in those formative early years of being a #businessowner#advisoryboards and mentors in #smallbusinesswhy #owners and #advisers need to look at the #balancesheet and not just the #profitandloss the need for business owners to take responsibility and say;I want to learn this stuffI want to know how it works, andWhat I can do betterwhen the best accountancy practitioners in the world can't help you@Jack Stack and the Great Game of Business, which effectively teaches the importance of finance and sharing financial information with the entire company. in order to get everybody on board and understand how to play the game@kerrcapital 

Joel Sandoval, CPA is a successful entrepreneur and tax mastermind, having helped business owners save $37 million in taxes. The story of his start in the tax industry goes back to the peak of the real estate market crash in 2007. He was new to the job force with one foot in the real estate industry. However, with so many people losing their homes, he was afraid he had hit a brick wall in real estate. Fortunately, the CPA at the escrow company he was employed with, shared her experience as an accountant during such a volatile time. This ignited a spark in Joel, he began talking with other CPAs which only further increased his interest in the accounting industry.  @joelsandoval.cpa   In this episode, Brad and Joel discuss what the magic is that a REAL CPA can do you for you. Tune in and save your money!   00:00 Intro 01:06 https://www.taxsaversacademy.com check it out to see how you can save money on your own 06:00 The road to entrepreneurship 08:30 Business owners who are behind on taxes 14:00 Filing your taxes on line 18:10 What you can learn from Joel's courses 20:35 What you can do to lower taxes 25:00 Gambling 27:40 What “most” CPAs do 29:20 Holding Companies 33:00 PPP money 38:00 Why there would be chaos if there was “flat tax” 43:00 The rules of the game 47:30 Your method of accounting 49:40 An audit 53:39 What is changing about taxes this year? 54:51 Bomb: CPA's can help save you as much as possible! 54:55 Follow Joel @joelsandoval.cpa 55:53 Wanna learn more? Go to https://www.go.sandovaltax.com  

@michaelkent  is a #charteredaccountant and #founder and #ceo of @slateaccounts a bookkeeping and financial advisory firm. His focus is to look beyond the compliance (#BAS #GST and #annualreporting) to really drill in on the numbers, look at how the business is performing and how you can make it perform better. He's all about helping #businessowners and #CFOs get more intelligent, efficient, and reliable with their accounts.After a diverse work career including running a water company in #hanoi  #consulting and starting an #ITcompany, he saw an opportunity  emerging in #coudsoftware and #cloudcomputing. He now has 25 staff (#bookkeepers and #accountants) servicing clients - 10 in #australia and 15 in #jaipur #india In our discussion we cover;servicing businesses remotely and the advantages that brought to him;bringing a broader team, and abroader range of skills to help businesses,his approach to understanding clients' businesses and having #empathy for their workweek, and trying to make finance really pain-freehow he designs and delivers his 2 service offeringsthe critical need for #systems and #processesthe opportunity for #bookkeepers to prompt owners with "how they should be thinking about running their business differently or changing things"the opportunity for business owners who have bookkeepers who they really like and appreciate, and who know their businesses, to invite them to potentially go on that journeythe 2 lenses to think of when looking at your finance numbers.Historical - when doing that, it's really helpful to break down the numbers and understand where for example the income is coming from, then break that down and work out what products or services are profitable. There should be some trend analysis on spending, and definitely some ratio analysis. The big cost for most businesses are wages, rent, and stock, if it's a stock selling business, and if we're really understanding margins.Forward focused -  you definitely need to have an understanding of what's gone in the past, but I think it's best to start with an understanding of the #businessstrategy of the businessWhy the #financefunction should really understand #businessgoals  and what is this business trying to achieve?the importance of the #chartofaccounts as that's where it all startsthe need to focus on #measurable and #achievablethe need for businesses to understand where its big costs are, and focus on those - there is usually only about 3 or 4 (wages to revenue, cost of goods sold to revenue, occupancy costs revenue)#xero #myob #reckonwhy #cloud #accountingsoftware  and getting data from the banks is the #gamechangerthe critical role of #Managementaccountsthe reasons for his success in #outsourcingtook a very hands-on approach.having a view that, "Well, our clients outsource their accounts' work to us, so we're not going to, then, in turn, outsource the work to someone else." We wanted to make sure we were doing the work for our clientsstaying very close to those staff. Just because they're offshore, I think you should have the mindset that they're in the room with you.recognising that they're very much a part of our team meetings that we have, essentially, workshops, off-sites with thewww.kerrcapital.com.au A full transcript is included below.Michael Kerr: Hi, it's Michael Kerr here, presenting Small Business Banter.A healthy micro and small business sector means a successful economy and a more vibrant society. Small Business Banter is about helping regional business owners better prepare for current challenges, but also for the next stage of business success.I'm Michael Kerr, founder of Kerr Capital, advisors to business owners.Each week, I interview a fellow small business owner or an expert, and they share their stories, their lived experiences, the wins and the losses, and their best advice to help you, the listener, get the most you can from your own business.Small Business Banter is brought to you from the studios of 104.7 Gippsland FM and is heard across Australia on the Community Radio Network. Thanks also to Kerr Capital, supporters of the show. Okay. Welcome into another edition of Small Business Banter radio. Really great to have in Michael Kent, who's the CFO and founder of Slate Accounts, bookkeeping and financial advisory firm.Firstly, welcome Michael. Michael Kent: Thanks, Michael. Thanks for having me on the show, it's good to be here.Michael Kerr: Yeah, looking forward to chatting to you about what you do and how you help business owners. You're based in Melbourne, your business has about 20 bookkeepers and accountants servicing clients, and you can talk a little bit more about that.You didn't start as a bookkeeper, you started as a chartered accountant. You founded this business and you're really about helping business owners and CFOs to get more intelligent, efficient, and reliable with their accounts. I'll get you to introduce yourself shortly.In terms of today's discussion, what we're really wanting to do is draw on your current experience in the business you run to help owners think about how they can improve their business performance from bookkeeping and the output, which is management accounts, and so forth, also, I guess, opening the door to bringing in your bookkeeper as one of your really trusted advisors. That's the broad theme, but anyway, welcome, Michael. Give us a couple of minutes on your background, please. Michael Kent: Thanks, Michael. Well, I didn't follow a traditional accounting route. From a young age, I reckon I had a great interest in business, generally. I ended up studying Accounting, but also Law as a general Business degree. Michael Kerr: A lot of people do that. Yeah. Michael Kent: Yeah. It was good, it was interesting. When I left uni, I didn't work for a law firm or accounting firm, I went into more entrepreneurial pursuits. I actually went to Hanoi for a couple years and worked for an advisory practice there and ended up running a water company there, and then came back and tried to get an IT start up going for a few years, then took a real job in corporate land, which was, terrifically, I learned heaps for that period of my career, working in really quite general commercial roles. I ended up in consulting, but always with a view to starting my own business at one point. I suppose, the idea around Slate Accounts, I saw Cloud software coming and changing things. I thought that could be a good opportunity there. It seemed like finance was going to be deshackled[?] from the best in the computer running in my OB[?], and that it would be possible to service businesses remotely. In doing so, you could bring a broader team and a broader range of skills to help businesses, and that was the idea. I think it worked. We now have 25 staff, 10 in Australia, and 15 of those are in an office we have in Jaipur, India, that works really well for us. We can get into it if you're interested [crosstalk].Michael Kerr: Well, we'll certainly talk about your experience of outsourcing later.Michael Kent: Yeah. We've been going since 2012. [crosstalk] We started off general bookkeeping, looking after anyone that came along. These days, we probably don't take on slightly smaller businesses that we may have in the past. With the staff that we have, we find it slightly better at working with slightly bigger businesses, 2 million in turnover, or plus.In terms of how we think of our service, we think of it as 2 service offerings. One is Financial Control Services, where we run the nuts and bolts of a business' accounts function. We pay their staff, pay their bills, send invoices. We have another service offering called Financial Insight Services where we advise clients and really focus on using numbers to help them understand their business, [crosstalk] grow their business, and improve their performance, I suppose.Michael Kerr: Yeah. I think that's the underappreciated or underutilized area of bookkeeping, that ability to look past the compliance that you need to do your best in GST returns and accounts, but also really drilling in on those numbers to look at how your business is performing and how you can make it perform better, potentially.Michael Kent: Yeah. Potentially because of my background, we do compliance really well, but it's never really been a particular focus within our culture. We're really focused on systems and processes to make that work well and to make sure it's accurate, but our interest is really, we talk a lot about having an understanding of our clients' business and having an empathy for their work week, and trying to make finance really pain-free, but also bring value, I suppose.Michael Kerr: Yeah. Do you see that there is maybe an association between bookkeeping and compliance, and not with the next level of driving your business to become more profitable?Michael Kent: There is, but that's changing.Michael Kerr: Right.Michael Kent: I reckon it's possibly because the technology over the last 10 years has taken away most of the data entry, if not all. Ten years ago, there really wasn't a role that was essentially a data entry role, and that's a skill set. People who are good and interested in doing that will have a certain skill set, but that's been removed [crosstalk] with modern technology, so it means people who are really focused on that can now actually provide that service really well and efficiently for probably far more people, and that can be great. They can do it probably cheaper and better, but for a lot of people who may have been doing that work and new businesses that have come in to finance and bookkeeping, we have the space, data, and technology to really add value, so that's become a focus.I find that classic stereotype of the bookkeeper, it is sort of passing. Typically, businesses that come to me are not looking for that. They know that the world's moved on, and even small, freelance bookkeepers out there, and there's thousands of them, are now pretty focused on things beyond data entry [crosstalk] and the classic stereotype.Michael Kerr: Yeah, okay. The opportunity's here, the data gets exported out of your bank account, so it's a matter of shaping it and using it. Is that really up for the business owner to demand that or drive that, or you're just saying that bookkeeping, generally, is becoming more savvy and more of a trusted advisor in taking information to clients and saying, "Look, you should be thinking about running your business differently or changing things"?Michael Kent: I reckon there'll be a full spectrum out there and plenty of businesses will have bookkeepers, who, perhaps, not bringing that mindset and not necessarily thinking to bring that value. In many cases. I think that there's an opportunity for business owners who have bookkeepers who they really like and appreciate, and who know their businesses, to invite them to potentially go on that journey, if they hadn't necessarily thought of it proactively.Michael Kerr: What would be practical examples where there's an opportunity for either the owner or the bookkeeper to say, "Look, this information here is telling me my business is performing at this level, but I want to change it, or I need to change that." What would be examples of information that you could use to spark something different in the business?Michael Kent: Well, there are 2 lenses to think of, looking at your finance numbers. One is looking at them historically. When doing that, it's really helpful to break down the numbers and understand where the income is coming from.Michael Kerr: So, not yet. You often see revenue of $2 million, but it might be one client, it might be 50 clients, it might be 3 products or 3 services, or 50 products and services.Michael Kent: Yup.Michael Kerr: Is that the kind of stuff where you go? [crosstalk] Drill into this. It's not just one top line of revenue of $2 million. That works for compliance, right?Michael Kent: Absolutely. On the base[?] statement. that's all they're interested in, [crosstalk] but it's really helpful to break that down and work out what products or services are profitable. It's really common for businesses to discover with a bit of analysis that, in fact, they're putting a lot of effort into a service or product that's not profitable. In analyzing historical numbers, it should definitely be around focusing on product or service profitability, or for service companies that might be around, for a project profitability. There should be some trend analysis on spending, and definitely some ratio analysis. The big cost for most businesses are wages, rent, and stock, if it's a stock selling business, and if we're really understanding margins.Merely looking at a P&L on a balance sheet won't necessarily bring that out, depending on how they're structured, so encouraging a bookkeeper or a finance advisor to help a business owner pull that apart and understand those things is really valuable.Michael Kerr: Yeah. [crosstalk] The historical piece is just outlined, and you were just about to go on, I think, to the second part of it.Michael Kent: Yeah. Well, beyond that, we think that if you're going to get the most out of your finance function, it should really be forward focused. You definitely need to have an understanding of what's gone in the past, but I think it's best to start with an understanding of the strategy of the business. It doesn't need to be complex. It can be really simple. The finance function should really understand, what are the goals of this business? What's it trying to achieve? In many cases, that initial understanding of historically, what's going on, is the place to start, because that will tell you, "Well, we're doing great, but we do need to improve our margins," or, "We do need to drop our wage costs," or, "This is a sleeping service, but we could probably sell twice as much of this particular service line or product line," and that will inform the strategy. Once it's understood, "Okay, the next 12 months, we're going to try and do these 3 things," then working with the finance function or the bookkeeper to decide, "What could we measure and report on as we go through the year that would inform our progress against those goals?" That's the gold, deciding what we're trying to do, and how we're going to measure progress, and then getting that bookkeeper to go away and work out how they can get that measured and bring to the business owner a concise, succinct, simple report so they can get regular feedback on their progress towards those goals.Michael Kerr: Yeah, okay. I want to come straight back to the quality of your chart of accounts because that's where it all starts.On today's edition of Small Business Banter radio, we're chatting with Michael Kent, who's the founder and CEO of Slate Account. We'll shout out that website at the end, Michael.I love the way you've described that there's the finance function or booklist court[?], bookkeeping, account keeping. You can get a lot more out of the information that's going into the the system, historical analysis of profitability, et cetera, tying it to where you want to go, I think, the next level, because otherwise, you just go along and you don't know whether you're getting to somewhere, you don't know where that somewhere is, in terms of something that's measurable and achievable, but I imagine that when you are working with a client, all of that information rolls up into a set of accounts, and they're typically listed from the expenses from A to Z, accounting fees at the top and wages at the bottom and [crosstalk].I do a lot of work with management accounts and small business, and that layout isn't particularly helpful, so you've got to reformat that information, but also, I wonder how often there's a tendency just to shove expenses into categories, because you want to get your compliance done, but you're missing an opportunity to perhaps, really feed that information in the first place into categories, expenses that are much more relevant for doing this analysis talking about.Michael Kent: Yep. It's very common to have an A to Z chart of accounts, and it really is a massive lost opportunity. It's important for a businesses to understand where its big costs are, and focus on those. Counter-intuitively, we often say when reviewing financial statements, don't look at a statement, actually. Our typical reports will be more chart-based, and in most businesses, the costs that really matter. There's only about 3 or 4, and we prefer to present those in a chart that shows the trend over time and show us a ratio of those things, typically to revenue that that's where the business is thinking, wages to revenue, cost of goods sold to revenue, occupancy costs revenue, if real estate's a big part of the business. We then normally present your classic profit-loss statement that lists the accounts by month, almost as an appendix, because the B items are normally, there's only 4 or 5 of them, and you want to see what's happening as a trend over time.Michael Kerr: Yeah. If you're going to shift the performance of the business, you don't need to focus on 55 different expense accounts if it's 3 or 4, as you say, that always can [crosstalk] steer you to wages, rent, and so forth.Michael Kent: That's right. Someone should have a look at them. A good bookkeeper will take a look and make sure we're not doing something crazy with our phone expenses or our staff entertainment, but it's really not a sensible focus for a management meeting.Michael Kerr: Yeah. You talked about the shift to Cloud accounting. Now, we have zero miled[?], I reckon, into it, I think.Michael Kent: Yup.Michael Kerr: Is it more or less compulsory? Can you get around your compliance obligations just by continuing to use Excel always, or is the value coming out of an online subscription or a subscription to one of those service providers really worth it?Michael Kent: Absolutely. Excel is just so much harder, more time consuming, and more complex. The thing about the new Cloud accounting software is the getting the data from the banks is the game changer. You fill in a form to give the bank permission to send this company the data, and then over time, you can teach the software to recognize things. If it's Telstra, it's a phone. If it's Caltex, it's fuel. If it says Stripe, that's income, and so on. Tallying it all up becomes very quick.These days, running a bass[?], for example, it's all done with a couple of clicks, and now, you can lodge from directly inside the software. I just click a button and push it to the ATO. For smaller businesses, this software costs $25 a month, in some cases, less. [crosstalk]Michael Kerr: Pretty strong, and indeed, it kind of gives you the opportunity and to start to do that analysis that you talked about, which is, "What am I trying to achieve? How am I going towards that?"Look, I just wanted to rant through a couple of things in the last little while. Management accounts, for me, in the work I do, are the most critical piece of information. Now, when you're selling a business, what's happening last month, the last completed set of financial returns are usually 12 months old. What's happening? The quality of the management accounts, if I can call them that broadly, are so vital. I wanted to ask you, in terms of choosing a bookkeeper or assessing how your current bookkeeper's going, what's your thoughts on that?Michael Kent: Thinking first about that financial control function of the bookkeeper, getting the transactions entered, and getting bills paid, I think getting that done well is all about accurate, on time or faster, reducing risk, but also about delighting the customers of those business processes, so making sure your suppliers think you're a great company to sell to, your customers feel really good about your brand, and often, it's that finance person, the bookkeeper, who's representing you to the extent that's finance-related. I would be having conversations with prospective bookkeepers about how they might manage that and do that really well.Michael Kerr: Yeah.Michael Kent: I think the balance sheet is where a lot of bookkeepers might become unstuck. If I was interviewing a bookkeeper and had to choose one, I'd really go through my balance sheet with them and make sure they could explain. The key test here is, how would we check each of these balances, and make sure they're speaking in plain English, in a way that the business owner can really understand. I think that would set up the relationship really well.We find in recruiting our staff, the number one indicator for whether they're going to succeed at Slate Accounts is actually, "Please describe yourself, in 160 words or less, outside of work," because it's a very human task these days. It's not about data entry.The other thing to think about is about resignation proofing the function. It can be a real pain if your finance person or your bookkeeper leaves.Michael Kerr: Yeah.Michael Kent: I'd be having a chat to a bookkeeper about what backup they have and how those risks could be managed. I think that's really important, too.Michael Kerr: Yeah, okay. As a business owner yourself, you've got a significant business. More than half are offshore, and you can offshore a lot of things, bookkeeping being one of them, professional services also. What's your experience that you'd share? You have been doing it for quite a long time. In terms of just generally outsourcing for business owners, what's your thoughts on that?Michael Kent: We did it a little bit differently. I employed my first staff member in India in 2017, but I always took a very hands-on approach. It is possible to get online and find staff offshore, and do it all remotely, but long before we did this, we had the view that, "Well, our clients outsource their accounts' work to us, so we're not going to, then, in turn, outsource the work to someone else." We wanted to make sure we were doing the work for our clients.Michael Kerr: Yeah, and responsible for it.Michael Kent: Sure. Until COVID hit, until November '19, I was going to India 4 times a year, every quarter. I interviewed and recruited the first 5 staff.What's made it work? I mean, there's been a lot of change management. It had to happen across my Australian staff, and their roles have really evolved, and that's been great for them. It's a fun journey for everyone, but there's been a fair bit of work and care put into that. I think the key would be to stay very close to those staff. Just because they're offshore, I think you should have the mindset that they're in the room with you. Unfortunately, you just can't flip work over and expect it to come back. We're on calls and working on Skype and so forth with our staff all day, every day, and it works really well for us.Michael Kerr: Yeah. Whilst it's offshore, they're employees the way you set it up. You want to see that quality delivered that you promised, so you can't just outsource and hope for the best.Michael Kent: Yeah. For us, they're very much a part of our team meetings that we have, essentially, workshops, off-sites with them. That model works for us.Michael Kerr: I've been involved in outsourcing, also. I think it's like any employee relationship. As you said at the very beginning, wages is a biggest cost for just about every business, and managing people is essential to getting the business right?Michael, we're going to have to call it a wrap. I really appreciate your time and insight. I think it's a very progressive approach to bookkeeping and financial management. I think the message, very strongly, for me, that I'm hearing is that there is a role for your bookkeeper, outsourced, internal, as a trusted advisor, and really, to look beyond reducing tax, that annual cycle which has driven a lot of people in the past and a lot of accountants look past the compliance, and really look at it as a critically important part of the business to measure how you're tracking, and comparing that to where you're headed.Thank you so much for your time today. Do you just want to shout out the website, and then we'll call it a wrap, Michael?Michael Kent: Thanks, Michael. Yeah. We're at slateaccounts.com.au.Michael Kerr: All right, excellent. You do, occasionally, write some excellent articles.Michael Kent: Occasionally?Michael Kerr: I mean, you only write them occasionally.Michael Kent: I know. I'm going to work on it a little bit better there.Michael Kerr: All right. Thanks [crosstalk], Michael, for your time today. Really appreciate it.Michael Kent: Thanks, Michael. Good to see you.Michael Kerr: That is all for today's episode of Small Business Banter. I continue to be inspired, bringing you small business experts and other small business owners, and hearing their stories.Do you want to listen to any past episode? Jump onto your podcast platform of choice and search Small Business Banter. There, you will find a diverse and fascinating collection of small business owners and experts openly discussing and sharing their experiences.For any of the links, resources, or information we've talked about on the show today, or to contact me, please head over to smallbusinessbanter.com, or you can find us on Facebook and Instagram. It would be great to have you tune in the same time next week for another episode of Small Business Banter.[END] 

Vinnie Fisher talks about hiring a "fractional" CFO - a person who is an expert in finances as a CFO, but will not cost you the full amount of a full time CFO. If you need help with accounting services, bookkeeping, etc. Fully Accountable has services that could help you. He started the company after exiting a hugely successful products business, so he knows the pitfalls of product based businesses. Reach out to wecare@fullyaccountalble.com to see if you can get help negotiating merchant account payments or other help on finances.

Sales Needed to Hit Your Personal Income Goal Knowing how to read your profit and loss income statement will allow you to quickly figure out how much you need to do in sales to hit your profit goal so you hit your personal income goals. We will walk through a few examples to show you how! ~~~~   The Badass Business Owner Podcast is for Small Business Owners serving their communities who are tired of living job to job but want to grow their personal income. Each episode we discuss how to increase your profits, boost your sales, improve your processes and develop stronger teams.   Coming Soon: The Badass Business Owner Learning Center   Badass Business Owners Know the Basics of their Profit and Loss Income Statement. Here is Guide to Help You Out  -   Get the How to Read Your Profit and Loss Income Statement Guide   Two Books All Local Small Business Owners Should Read:  eMyth Revisited by Michael Gerber & Profits First by Mike Michalowicz   (affiliate links but no extra cost to you)   OTHER HELPFUL LINKS   The Know Your Business Numbers Course FREE Business Health Check Workbook Youtube Channel – Training for Local Small Business Owners Join the Badass Local Small Business Owners Facebook Group! Email me at tammy@localsmallbusinesscoach.com Visit the Local Small Business Coach website Get Your FREE eBook -8 Steps to Increasing Your Profits in Your Local Small Business   WHO THIS PODCAST IS FOR: local small business owners, mobile businesses, brick and mortar businesses, handymen, landscapers, pool cleaners, cleaning services, QSRs, restaurant owners, mechanics, plumbers, real estate agents, dog groomers, franchisees, tradesmen, medical, dentist, insurance, & those looking to increase profits, boost sales, improve processes and develop stronger teams

What Does a Kid’s Book & Your P&L Have in Common? Ever look at a Profit & Loss Statement and just see a bunch of numbers and gobbledygook? Isn’t that similar to what a kid sees the first time they look at a book? But that kid soon learns how to turn that gobbledygook into something that can tell an amazing story. So let’s help your gobbledygook become an amazing story too!   ~~~~   The Local Small Business Coach Podcast is for Local Small Business Owners who are tired of living job to job and want to get to $100,000 in personal income. Each episode we discuss how to increase your profits, boost your sales, improve your processes and develop stronger teams.   Coming Soon: The Badass Business Owner Learning Center   Badass Business Owners Know the Basics of their Profit and Loss Income Statement. Here is Guide to Help You Out  -   Get the How to Read Your Profit and Loss Income Statement Guide   Two Books All Local Small Business Owners Should Read:  eMyth Revisited by Michael Gerber & Profits First by Mike Michalowicz   (affiliate links but no extra cost to you)   OTHER HELPFUL LINKS   The Know Your Business Numbers Course FREE Business Health Check Workbook Youtube Channel – Training for Local Small Business Owners Join the Badass Local Small Business Owners Facebook Group! Email me at tammy@localsmallbusinesscoach.com Visit the Local Small Business Coach website Get Your FREE eBook -8 Steps to Increasing Your Profits in Your Local Small Business   WHO THIS PODCAST IS FOR: local small business owners, mobile businesses, brick and mortar businesses, handymen, landscapers, pool cleaners, cleaning services, QSRs, restaurant owners, mechanics, plumbers, real estate agents, dog groomers, franchisees, tradesmen, medical, dentist, insurance, & those looking to increase profits, boost sales, improve processes and develop stronger teams

Today I feel called into Inspired Action; the moment when you just know you gotta do something.If you follow me on the Instagrams (thanks by the way!) then you may have seen my posts last week sharing openly the numbers in my design biz as well as the fact that it scares the bejeezus out of me to share them.In today's episode I'm sharing more deeply the numbers in my design biz as well as pulling the curtain back and sharing some of the 'behind-the-scenes' stuff.Just a few things I'm talking about include:>> Some key lessons from my first 5 years in biz>> An honest talk about my numbers - as well as what was happening in the background>> How I've limited my success>> The decision to choose fear>> Why we need to let go of the 'big number success' balogne so we can actually move forwardI also mention near the end that Lost to Launched Academy is opening it's doors in September. If you'd like to get on the waitlist (where there's maybe going to be some waitlisty goodies!), I invite you to go to www.daretobegin.net/join and sign up onto the list. You'll be the first to know when the doors open in September AND possibly get some extra special bonuses.

ProfitandLoss.mp3

Un'idea imprenditoriale di valore senza un modello di business che la sostiene rischia di finire in un nulla. Vediamo insieme uno degli strumenti più utilizzati nella progettazione di un Business Model, andando a schematizzarlo passo dopo passo.

Un'idea imprenditoriale di valore senza un modello di business che la sostiene rischia di finire in un nulla. Vediamo insieme uno degli strumenti più utilizzati nella progettazione di un Business Model, andando a schematizzarlo passo dopo passo.

Natima Lang. Once of the strengths of Deep Space Nine is its ability to bring in secondary characters and make them important. In some cases, those character may appear only once, yet have significant impact on our main crew. Such was the case with Natima Lang. In this episode of The Orb, hosts C Bryan Jones and Matthew Rushing focus on the Cardassian professor and dissident who appeared in the second-season episode “Profit and Loss.” We discuss how DS9 fleshed out Cardassian society, how Lang brought out the best in Quark, how she created a turning point for Garak, and what happened to the character beyond the small screen in the post-DS9 novels. Chapters Intro (00:00:00) There's More to Cardassia … (00:04:23) Natima Lang (00:07:40) Natima and Quark (00:10:18) Natima and Garak (00:18:08) Natime in the Novels (00:26:17) Final Thoughts (00:29:21) Hosts C Bryan Jones and Matthew Rushing Production C Bryan Jones (Editor and Producer) Matthew Rushing (Executive Producer) Ken Tripp (Executive Producer) Norman C. Lao (Associate Producer) William Murray (Associate Producer) Kay Elizabeth Shaw (Associate Producer) Richard Marquez (Production Manager) Brandon-Shea Mutala (Patreon Manager)

From There to Here: Day 207 “Profit and Loss / Genesis” The #StarTrek 50th Anniversary Rewatch Meet Quark’s long-lost Cardassian love and be introduced to Troi Frog in this installment of From There to Here: The Star Trek 50th Anniversary Rewatch from Trek.fm. Stream below or listen/subscribe via… http://itunes.com/trekfm http://www.trek.fm/from-there-to-here/207 RSS: http://fromtheretohere.trekfm.libsynpro.com/rss