Customer Acquisition Cost (“CAC”) is a metric that has been growing in use among Internet businesses. It’s a metric that can make or break your start-up. However, we find that many ‘traditional businesses’ fail to measure CAC, giving them limited insight as to whether they are acquiring customers profitably. In this video, Rowan shares how…
Seasoned entrepreneurs say that revenue growth, profitability, and cashflow are the most important financial metrics to your business. Of course they are important, however we see one significant metric is often missed. https://www.youtube.com/embed/O99etdlZV0s Customer Lifetime Value (CLV) Customer Lifetime Value is not a new concept but it’s an important metric to measure for your business.…
The term Big Data has been used with increased frequency over the last 5 years. While many organisations are still scrabbling to understand the broader application of it, there’s no doubt that simple operational data is becoming more and more common as a source of a decision making driver within organisations. A big part of…
Gross Profit margins are a critical metric that every entrepreneur needs to be on top of. It’s a make or break metric for every business, irrespective of your industry. Most entrepreneurs think they know their Gross Profit margins – but from our experience, most don’t measure it accurately, which can have dire consequences. In this…
Dear Bob, I started working with your accounting firm when I was a graduate, wide eyed and fresh out of university. I spent the first 12 months of my career learning the basics of ‘tax’ which included how to complete a form on horribly clunky software, learning not to misspell my clients’ names and building…
Multimillion dollar companies like Zapier and Basecamp have their teams distributed all over the world. The WordPress parent company Automattic (valued at over $1.16B) boasts over 500 staff located in 57 countries. The notion of remote working has become a hot topic amongst professional services providers as of late. With trends moving towards the distribution of…
Entrepreneurs are liars. We tell ourselves that everything is fantastic, that we’re solving the world’s problems and having fun in the process. But in fact we know that is rarely the case… Being a liar in this way is a good thing. Even when things are all going terribly wrong – we lose a big…
Last Christmas I read Peter Thiel’s book “Zero to One”. Anyone curious about, or actually in the world of startups should read it – it’s full of so many original and thought-provoking concepts. These concepts range from ‘why companies should always aim to create something new (0 to 1) and not copy something else (1…
The bookkeeper / accountant relationship has always been a topical subject. Accountants blaming bookkeepers for dodgy work and the WIP they have to write-off as a result of it. Bookkeepers snarling at accountants for being elitists. Sound familiar? Looking back to when I was an undergrad (circa FY2006) the firm I worked for (who shall…
While innovation must be a key value driver to every organisation, it’s not surprising that organisations become caught up in the Silicon Valley buzz word hype that they lose focus on the fundamentals of any successful business – executing amazing customer service and Delivering In Full, On Time and On Budget – or what accountants…