Today we have Michael Wark in the studio. Michael Wark is a charted accountant who is anything but your garden variety accountant. For starters, he’s a surfer dude who’s rubbed shoulders (and worked with) with movie stars such as Angelina Jolie and movie producer Ridley Scott. Michael’s also made a few films himself, but his real gift is numbers. Today, Michael reveals a few tricks of the trade that will help you get a handle on the numbers in your business.
Here’s a sneak peek at what you’ll hear:
- The 3 most important numbers to know in your business. If you don’t know these numbers, well… good luck. – 5:07
- The single most ignored numbers in accounting. (Show me a business owner who’s ignoring these numbers and I’ll show you a business owner who’s about to run their business into the ground. – 5:20)
- Sweet tips on simplify your accounting. – 5:45
- When it’s smart to buy equipment for your business and when it’s criminally stupid. Sadly, many people in the video production industry (especially camera guys) are buying equipment at the wrong time and for the wrong reason. Here’s why… – 9:25
- Why focusing on paying less tax screws with peoples’ heads and ultimately their business’s bottom line. (And… what you should focus on instead. – 10:30)
- How today’s more simplified accounting software is hurting the average business owner. – 12:15
- Why charging your personal expenses through your business is far worse than you ever imagined. – 13:05
- The case for outsourcing your bookkeeping. (Are you doing your own books? You might change your mind after you hear this. – 14:10)
- Why trusting your “gut” in business without the numbers is foolhardy. – 17:00
- The single biggest blind spot for people who do their own books. Listen up at 20:50
- 4 critical things to know once you’ve done your bank reconciliations and coding. – 21:00
- A little-known cash flow accounting system that can help transform any business from a cash-eating monster to a cash-making machine. – 24:40
- How learning to do a basic cash flow forecast can save your “financial” arse. – 27:30
- Leasing or buying – what’s best? Hear Michael’s answer at 29:50
About Michael Wark
Michael is a qualified Chartered Accountant and passionate to help entrepreneurs’ level up their approach to finances and grow profitable businesses that make a positive impact in the world.
This starts with bringing clear steps to better understand their numbers, empowering owners to smash their financial goals, and ultimately provide the freedom they deserve.
Connect with Michael Wark on LinkedIn