BECOME A CASH RICH BUSINESS
One Day Small Business Cashflow Acceleration Workshop – Friday June 2nd, Brisbane
Cash is the lifeblood of a healthy business.
Whether you are –
- hemorrhaging cash
- mildly starved of profits or you’d like to
- dramatically increase your emergency cash reserves
you need to:
KNOW YOUR NUMBERS.
Not having an accurate and up-to-date financial scoreboard in business that is analysed and discussed monthly is like playing a game of AFL without goalposts. Players are simply running around getting tired, with no real outcome or objective.
When you know how to dominate XERO and have mastered the numbers that matter, you have what it takes to win the game.
STRUCTURE YOUR BUSINESS.
Most businesses either don’t have the right business structure or don’t have the right strategy and as a result, give half their profits to the taxman and risk their house, their car and their livelihood!
Learn about business structures and how you can use them to grow your business, save you tax and protect your assets.
BUILD YOUR PROFIT WAR CHEST.
Most businesses suffer from GROWING BROKE – i.e. “no matter how big my business grows, I never seem to have enough profit left over!” The problem is Sales minus Expenses equals Profit does not work (because of a little known ‘Parkinson’s Law’).
Learn how hundreds of small business owners are going from growing broke to profitable Cash Rich Business by adopting this surprisingly easy to master system for accelerating profits.
//// THE SHORT COURSE
- 7:30 Arrival, Caffeine & Registrations
- 8:00 am to 10:30 am – Know Your Numbers
- Morning Break
- 11:00 am to 12:00 noon – Structure Your Business (Part 1)
- 12:30 to 1:30 – Structure Your Business (Part 2)
- Afternoon Break
- 2:00 to 4:30 – Build Your Profit War Chest
- Afternoon Drinks & Farewell
Brisbane CBD Venue TBC
To celebrate you enrolling in the Become a Cash Rich Business [Workshop], we’ve given a family access to water for entire year, through our partnership with Global Giving Initiative Buy1Give1 (B1G1).
At Inspire CA we believe that every business has the power to change lives by integrating giving into its everyday business activities.
Doing this together with you is a simple but powerful example of putting that belief into action. So thank you; not just for being a customer but for making a real difference as well. together we really can make a huge impact.
//// INSPIRE CA
INSPIRE is an uber cool and disruptive Accounting firm who help young families use their small business to achieve big goals. Of course we do a great job at Tax (in fact we recently saved our client’s $1.26M in Tax), our focus is getting on top of the numbers that matter. Our mission is to help Business Owners create a Business that gives them the Freedom to put family first, and to make a difference.
//// WHAT OTHER BUSINESS OWNERS SAY
Know Your Numbers [Workshop] Agenda
A short course for small business owners to dominate XERO and master the numbers that matter – 8:00 to 10:30 am.
Part 1 – Your Financial Engine Room
- What is Xero, and how do I get the most out of it?
- What are the best Xero Add Ons to save me time?
- What receipts do I need to keep?
- How do I most easily keep my accounts reconciled?
- What should I be doing as a business owner and what should my bookkeeper / accountant be doing?
- What are the top 10 numbers that matter, and how do I track them?
- Top 10 mistakes not to do as a bookkeeper
Part 2 – Your Business Scoreboard
- What is a Profit & Loss Statement and how do I read one?
- What is a Budget and how do I make one?
- What is a Balance Sheet Statement and how do I read one?
- How do I set up my Business Scoreboard in Xero so I can see all the numbers that matter at a glance?
Part 3 – Your Business Advisory Board / Co-Pilot
- What is the role of a Bookkeeper? How much should I pay them and what should I expect from them?
- What is the role of an Accountant? How much should I pay them and what should I expect from them?
- What is the role of a CFO? How much should I pay them and what should I expect from them?
Structure Your Business [Workshop] Agenda
Learn about business structures & strategy so you don’t give half your profits to the tax man or risk the family home and lifestyle – 11:00 to 1:30 pm.
The Basics of Structuring & which is right for you?
- What are the differences between Companies, Trusts & Sole Traders.
- A Crash Course in GST, Invoicing.
- What Business Bank Accounts do I need?
- What might the best business structure be for your business operations?
- What are you ongoing obligations to ASIC, the ATO & Workcover?
- How do I set up my Accounting software right from day one?
- What role does a Bookkeeper, Accountant and CFO play in my new business?
- I have multiple businesses, can I share entities?
- How do I sell shares of my business to shareholders or Key Staff?
- What other structures are available for Investing?
- I’m planning on buying my office, what structure do I buy it in?
Control Tax & Keeping More of Your Hard Earned Cash
- What are the Tax strategies for each entity.
- Should I pay myself a salary, a dividend, a distribution, a loan or something else?
- What are the different types of loans each entity can make, and when would I use them?
- What the hell is Div 7 a and why do I need to avoid it?
- And what the hell is Personal Services Income rules, and what does it mean for me?
- How much tax do I need to squirrel away?
Protect Your Assets – from Employees, Customers Suppliers
- How do we separate business risks from personal assets?
- If I have nothing in my name, and everything is in my wife’s name, am I at risk of losing everything in a divorce?
- How much protection of your assets does each entity provide (or not!)
- How to protect your intellectual property from competitors?
- How to protect your business and yourself from petty lawsuits?
- Who is the “Risk Taker” and the “Asset Holder” in your family.
- I owe business assets in my personal name, how do I get them into the business?
- What are the differences in roles between a Director, Shareholder, Secretary & Appointor.
Build Your Profit [Workshop] Agenda
A short course in profit acceleration for business owners that even non-numbers people can master – 2:00 to 4:30 pm.
Part 1 – Master the Cash Rich Business Method
- Why is cash the lifeblood of my business?
- What is a Profit War Chest, and why is it important that my business has one?
- Why is my business growing but my profit not?
- How much do I need in my emergency cash reserve?
- What formula should I use to calculate my profit?
- How many accounts should my business have – why?
Part 2 – Implementation
- What four lessons can be learnt about a radical physical transformation that I can apply today?
- Where do I start?
- What does a healthy business look like?
- How much should I be putting aside for tax?
- What do I do if I’m paying too much tax?
- How much should I pay myself?
- How much profit should my business be making?
- What should I be spending on expenses?
Part 3 – The Profit Instant Assessment
- What does the profit first formula look like in action?
- How do I correct for an overspend in tax?
- What should a business do that isn’t making enough profit?
- I should be paying myself more – how?
- How do I calculate what a healthy amount of operating expenses look like?
- How can I apply this to my business?
About the speakers
Ben Walker CA
Founder & CEO
Ben is the CEO and Founder of Inspire CA, a Brisbane based Chartered Accounting firm specialising in helping Young Families Use Their Small Business to Achieve Big Goals.Ben started Inspire CA to head in the opposite direction to the traditional ‘old way’ of the accounting industry. Forget timesheets; forget charging by the hour; forget difficult to use software and glazing over in conversations with your accountant. Inspire CA is for the business owner who wants to understand what drives their business, while partnering with an accounting firm who takes care of the rest.
Accountant for Good
“Riz” is an Accountant, a professional Master of Ceremonies or MC and even a qualified cocktail bartender.
He previously worked as THE in house accountant for many of the major businesses in and around the CBD and came across to Inspire CA to help business owners keep more of their hard earned cash through. He helps our clients implement every legally available tax planning strategy and gives entrepreneurs the gift of knowing their numbers.
Accountant for Good
Jake Pretorius is an Accountant for Good and Loan Manager.
Jake used to work for a major bank as a personal banker and after seeing firsthand so many business owners struggling with cashflow, he then switched sides and became an Accountant for Good.
GM & Business Advisor
Harvee is the GM and co-owner of Inspire CA, a Brisbane based Chartered Accounting firm specialising in helping Young Families Use Their Small Business to Achieve Big Goals. Harvee joined Inspire CA after a successful consulting career in helping more than 600 Accounting firms around Australia, have a more meaningful impact in their client’s lives.
Having successfully started, built and sold several businesses himself, his mission is to help business owners create a business that gives them the freedom to put family first and to make a difference in the world.