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#20 — Partner Alignment, Cash and the 6 P's - Bradley Conn
Think about it for a minute. Accounting is not boring. Far from it. The Accountants get to see all the juicy stuff! The fails. The partnership blow ups. The cash issues. The incorrectly structured businesses that end up paying too much tax. The list goes on.
What they’ve seen go wrong and the resulting lessons learned can be incredibly instructive for Founders seeking to scale up.
What should you do now, to navigate around avoidable pain later?
Bradley Conn (Head of Accounting at businessDEPOT) isn’t your typical accountant, he’s far too interesting to wear that hat. Evidenced by the yellow surfboard on the wall in the background.
And this week in less than 50 minutes he imparts his wisdom with you on the key things he sees Founders get wrong, with the benefit of decades of experience and hindsight.
Fantastic insights and stories from Brad that will have you thinking deeply about whether you’ve had the right conversations with your business partner, your accountant, and yourself to avoid all the future pain you possibly can.
Here’s What We Cover….
01:53 – The businessDEPOT Business Model
05:49 – From Surgeons to Cattle Station Owners
09:54 – One Hundred Thousand for Restructuring Due to the Wrong Structure
12:44 – What was the opportunity cost on top of the restructuring cost?
13:42 – When would have been the right time to get that structure right?
15:52 – Having a Decent Financial Plan and Cashflow Forecasting
19:44 – What’s the ideal length to do your cashflow planning for?
23:00 – Start with Worst Case Scenario
24:30 – What Purpose Did You Build the Business for at Inception?
27:40 – An Owner Who Lost His Mojo
28:46 – Evaluating What Gives, and Takes Away Your Energy as a Founder
30:12 – Spend Your Time on the Things That Create the Most Value
33:28 – Don’t Get Your Receptionist to be Your CMO and CFO
36:05 – Paring Less Experienced Resources with External Experts and Mentors
40:02 – Shareholders Agreements – What Conversation to Have and When
44:26 – Google It – But Then Mediate It If Needed
46:09 – The 6P’s and Why Planning Is Important
48:04 – Acknowledgement
49:29 - How to follow what Brad’s doing
------------------------------------------------------
IF YOU GOT VALUE FROM TODAY'S EPISODE, PLEASE REMEMBER TO:
1. Rate and review us on Apple Podcasts
2. Register to be the first to know when new episodes drop and free tools are published at www.scaleupspodcast.com, or
3. Drop us a question about scaling using Speakpipe on the website, or email [email protected].
View all episodes
By Sean SteeleThink about it for a minute. Accounting is not boring. Far from it. The Accountants get to see all the juicy stuff! The fails. The partnership blow ups. The cash issues. The incorrectly structured businesses that end up paying too much tax. The list goes on.
What they’ve seen go wrong and the resulting lessons learned can be incredibly instructive for Founders seeking to scale up.
What should you do now, to navigate around avoidable pain later?
Bradley Conn (Head of Accounting at businessDEPOT) isn’t your typical accountant, he’s far too interesting to wear that hat. Evidenced by the yellow surfboard on the wall in the background.
And this week in less than 50 minutes he imparts his wisdom with you on the key things he sees Founders get wrong, with the benefit of decades of experience and hindsight.
Fantastic insights and stories from Brad that will have you thinking deeply about whether you’ve had the right conversations with your business partner, your accountant, and yourself to avoid all the future pain you possibly can.
Here’s What We Cover….
01:53 – The businessDEPOT Business Model
05:49 – From Surgeons to Cattle Station Owners
09:54 – One Hundred Thousand for Restructuring Due to the Wrong Structure
12:44 – What was the opportunity cost on top of the restructuring cost?
13:42 – When would have been the right time to get that structure right?
15:52 – Having a Decent Financial Plan and Cashflow Forecasting
19:44 – What’s the ideal length to do your cashflow planning for?
23:00 – Start with Worst Case Scenario
24:30 – What Purpose Did You Build the Business for at Inception?
27:40 – An Owner Who Lost His Mojo
28:46 – Evaluating What Gives, and Takes Away Your Energy as a Founder
30:12 – Spend Your Time on the Things That Create the Most Value
33:28 – Don’t Get Your Receptionist to be Your CMO and CFO
36:05 – Paring Less Experienced Resources with External Experts and Mentors
40:02 – Shareholders Agreements – What Conversation to Have and When
44:26 – Google It – But Then Mediate It If Needed
46:09 – The 6P’s and Why Planning Is Important
48:04 – Acknowledgement
49:29 - How to follow what Brad’s doing
------------------------------------------------------
IF YOU GOT VALUE FROM TODAY'S EPISODE, PLEASE REMEMBER TO:
1. Rate and review us on Apple Podcasts
2. Register to be the first to know when new episodes drop and free tools are published at www.scaleupspodcast.com, or
3. Drop us a question about scaling using Speakpipe on the website, or email [email protected].
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