Rural Business Focus Podcast

The importance of knowing your numbers – with Joey de Wit

You can find out more information about Perennial CFO here.

This episode is for informational purposes only and does not constitute advice. RuralPod Media or Perennial CFO accept no responsibility for using any of the information contained in this podcast. 

Joey’s handles:

Twitter – @JoeydeWit_

Email –  joey@perennialcfo.com 

You can follow Rural Business Focus and contact Ben on Twitter @ruralbf_pod or on Instagram @ruralbusinessfocus

Have you thought about the benefits of podcasting for your business? If you  want to find out more or work with Ben to make your own podcast or to organise some podcast training for your business visit ruralpodmedia.co.uk 

Timestamps for today’s episode

1:04 Ben introduces the show.

2:40 Joey comes in and talks about his family farming background and his interest in numbers.

5:10 Joey’s background in banking.

6:30 Joey recognises the opportunity for the new business.

7:07  Why work with an advisor?

8:23 What is a fractional CFO? What services does Joey provide?

10:30 Joey’s system of 6 steps  – baseline requirement starting with a financial health check. 

12:45 Cashflow.

14:52 Costs and keeping  a handle on them.

15:40 Book keeping as a bottle neck for the business.

18:00 Chart of account. 

20:10 Reconciliation of accounts.

22:40 Message about RuralPod Media.

23:31 Using and understanding your numbers and the benefits of this.

26:46 Going beyond a basic cashflow forecast.

28:40 KPIs

31:00 Keeping accountability

32:14 Forecasting and how far ahead is it useful to forecast?

36:03 How do banks look at a business? 

36:36 The 5 C’s of Credit

41:16 The Amazon Business Fly Wheel (Joey’s interpretation)

46:00 Joey’s handles – twitter @JoeydeWit_; Linkedin ; joey@perennialcfo.com 

46:56 Ben rounds up the show. 

 

 

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