This isn't your average 'Accountant' chat. As a business structure strategist and accountant (In Australia), Jeff Banks and Roslyn discuss what 'numbers' you need to track in your travel business as well as what Key Performance Indicators matter.
Understanding why you are in business is one of the questions Jeff challenges us with.
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Finer Details of the Episode
- 3:15 - Jeff Banks introduces “The KISS Principle” (Keep it supremely simple)
- 3:54 - Sometimes understanding the number can be a little bit difficult
- 4:26 - Understanding why we need to do things
- 5:45 - How do we know what we need to sell
- 7:10 - The fixed cost in the business
- 9:37 - Jeff Banks talks about breaking down the fixed cost
- 11:02 - Setting yourself a milestone
- 15:04 - What sort of KPI should we looking at
- 17:31 - Jeff Banks talks about the conversion rate
- 18:43 - Fixed cost vs variable cost
- 20:22 - The difference between being a good practitioner and being a good business person
- 22:08 - Finding the balance through customer care
- 22:58 - Think about what your worth and why you are in business
- 23:58 - Jeff Banks talks about cash flow
Quotes from this Episode
“Keep things Supremely Simple”
“Knowing what you worth”
“Some people may not need to earn $80,000, some people may need to earn more”
“This is not an overnight success”
“Your goal might be different to somebody else’s and don’t think that that’s a problem”
“Everyone’s goal is different, it’s just a matter of getting it right for yourself”
“At the end of the day it’s actually what comes in and paid that you can record”
“Referral, repeat, & word of mouth clients are going to be where the majority of business comes from”
“At the end of the day, it’s the customer who’s paying your salary”
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