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Why Revenue is a Vanity Metric (and what to watch instead)
Description
Using accounting as a useful business tool is harder than it sounds. Most of us don't really know what we should be looking at or how to interpret it.
In today's episode, you'll learn some counter-intuitive wisdom and financial truths you can start using immediately to accelerate you light years ahead of the competition.
Key Takeaways:
- How cash conversion cycle (CCC) is the most important key performance indicator for your finances
- The biggest financial challenges merchants face
- Which financial metrics you should be actively monitoring
- How to be smarter about discounting
- Avoiding the common mistakes Ecommerce merchants make with their finances
Our guest today is Jason Andrew, a chartered accountant, founder, and business advisor to high-growth businesses. His accounting firm, SBO.Financial, focuses on helping Ecommerce businesses with their numbers, ranging from bookkeeping and financial control to profit and cash flow maximisation strategies.
In 2019, Jason published an entrepreneurial accounting book, Stark Naked Numbers, which he describes as "the 4-hour work week of business finance."
Links Mentioned
- Book: Stark Naked Numbers
- SBO Financial
- LinkedIn: @jason-andrew
- The Personal MBA
- Book: All Marketers are Liars
Sponsors
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- See our recent work at Ethercycle
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Sponsors
- This episode was made possible by Ecom Growers - In eCommerce, the difference between great and good email campaigns is hundreds of thousands of dollars Ecom Growers is an agency that figured it out so you don’t leave any sales on the table.