[EP7] - Reuben Bergola, Take charge of your financials

For most accountants, there is nothing more terrifying, risky, or costly than business owners showing up at their office at year’s end with a shoebox full of bank statements and receipts. 

If anything, the importance (and peerless benefits) of properly tracking and managing financial information cannot be overstated. To drive this point home, I talked to my trusted bookkeeper, Reuben Bergola.

Reuben is the managing director of The E-Commerce Accountant and the account director, management accountant, and tax accountant at New Wave Accounting & Business Advisory. The firm has helped over 600 entrepreneurs start, grow, and scale their businesses using their outside the box accounting and bookkeeping services.

In this episode, we’ll all learn valuable financial information and wisdom from one of the best in the industry. From the habits you need to get into early down to the fundamentals of cash flow projection, Reuben covered it all in this episode so don’t miss it!

Key Takeaways

Things you can implement when you’re first starting out
What planning ahead entails
The importance of monitoring your figures
Habits you need to get into early
What the next step is for photographers who want to take things to the next level
Why it’s important to do a cash flow projection as opposed to just shooting the dart blindly
The fundamentals of cash flow projection
Why it pays to have the right mindset
What keeps businesses from reaching their financial goals
What his meditation is all about
What photographers and small business owners can do to optimise their businesses during COVID
His one tip for business owners
His thoughts on the concept of “profit first”

Quotes

“I’m talking about just understanding what your core product or service are, understanding how much profit you’re gonna make from them.”
“I always go by the saying ‘revenue is vanity, profit is sanity, and cash flow is king’.”
“As you grow, you can start to make this more efficient in terms of profitability. You can start cutting costs, getting better deals, increasing your pricing.”
“It’s very important for a business that’s in growth to understand cash flow.”
“You cannot manage what you don’t measure.”
“Build up your cash flow and seek opportunities.”

Links

New Wave Accounting & Business Advisory Website -
New Wave Accounting & Business Advisory YouTube - 
New Wave Accounting & Business Advisory Facebook - 
New Wave Accounting & Business Advisory Twitter - 
New Wave Accounting & Business Advisory LinkedIn -