Chartered Accountant Reveals 7 Habits for Running a Highly Efficient Business
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Welcome to the Deep Dive series, where I cover tax and business topics on a deeper level and in more detail than my regular videos.
This video covers 7 financial habits that business owners need to run a highly efficient business. We’ll be diving into case studies and specific numbers, and I’ll demonstrate how to calculate ROI, set KPIs for employees, calculating working capital, and many more examples.
By the end of this video, you’ll know how to keep track of how your business is performing so that you can make more informed business decisions.
Chapters:
00:00 - Introduction
00:38 - Habit 1: Know Your Numbers
02:45 - Case Study #1
18:07 - Habit 2: Embrace Step Growth
20:19 - Case Study #2
29:06 - Habit 3: Focus on Key Simple Numbers
29:18 - Calculating Working Capital
31:46 - How to Set KPIs for Employees
34:37 - Calculating ROI on Equipment
35:45 - Interest Rates
38:50 - Focusing on Specific Numbers at Specific Times
44:30 - Habit 4: Think of the End in Mind
47:24 - Habit 5: Implement Effective Payment Systems
52:38 - Habit 6: Aim to Pay Yourself (Eventually)
56:30 - Habit 7: Understand When You Need to Pay Taxes
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Davie has over 15 years experience in advising businesses in management accounting and taxation issues. He heads up a passionate team at Box Advisory Group who are dedicated to offering proactive and outstanding service to our clients.
Davie’s extensive experience in providing tax and consulting advice and astute business knowledge has paved the way for success for many businesses.
He is a member of the Chartered Accountants Australian and New Zealand, a member of the Australian Tax Practitioners Board and holds a Bachelor of Commerce degree from the University of New South Wales.
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Disclaimer:
This video is for informational purposes only and should not be considered financial or legal advice. This video does not take into consideration your personal circumstances. Consult with a qualified financial planner, tax advisor or legal consultant before making any decisions regarding investments.
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