SYS 024: It Is All A Numbers Game - Josh Keegan Interview
Property entrepreneur of the year, creator of Fast Track Finance and chartered accountant, Josh Keegan joins the show to share his wealth of knowledge about how you can make your business profitable and manageable. Together they discuss why too many entrepreneurs focus on growth and neglect their profits, why finance is an investment not a cost and why every decision you make needs to be financially backed.
KEY TAKEAWAYS
- Too many entrepreneurs only focus on growth and end up not making a profitable business. One thing to remember is, always ensure that your growth is considered. There is nothing wrong with considered growth if growth is a means to an end. Growth is fine, but it can mean your profits do not match your growth.
- When you create your business model, start at the bottom before you get to your end game. Firstly you should ask yourself how much you want to draw from your business on a monthly basis.
- The most important thing, which is often the last thing entrepreneurs think about, is how they are going to get clarity on their numbers. Finance is an investment, not a cost. You need professionals to do your finances, whilst a VA can do some stuff for you, they are not financial experts.
- Every decision needs to be financially backed. Decisions should never be based on an emotion, they should be backed on hard financial information. You need to know your current profits in order to increase your revenue.
- Everybody is scared about the potential tax they may have to pay if they do not hire a tax accountant. Pay for a tax accountant that will do a one off appointment who can give you start up advice.
BEST MOMENTS
“Don’t think of the top line number, think of the bottom line number and the top line comes as a result of that bottom line.”
“It is all a numbers game.”
“If you cannot measure something, you cannot improve it.”
“The best time to hire a virtual assistant is yesterday.”
ABOUT THE GUEST
Josh Keegan - “Having successfully scaled numerous high margin property businesses, I help property entrepreneurs transform their underperforming start up into a highly lucrative, industry leading business. I believe entrepreneurs only ever achieve life changing success when they have total financial clarity in their businesses. We empower entrepreneurs to make bigger, better, and bolder decisions. We are passionate about seeing an entrepreneur's hard work finally pay off as their business shifts from an underperforming start up to high performance business. Our award-winning business programmes focus is on achieving total financial clarity, maximising margins and developing scalable profit-led business models. I personally own a portfolio of trading and investment companies which achieve margins in excess of 35% all based in the property sector. I have won several major industry awards including Property Entrepreneur of the Year. Before starting property businesses and buying my first investment property, I chartered as an accountant. It is the ‘accountant turned entrepreneur’ experience which gives me a unique skill set to guide entrepreneur’s to success. I believe a successful business is highly organised, very simple and has water tight financials. No amount of entrepreneurial optimism can overcome a lack of financial clarity. Having worked with hundreds of Property Businesses, I know exactly how to design a high profit business which serves any owner’s unique lifestyle and frees them up to explore bigger opportunities. If you’d like to gain more financial stability or increase your margins in your property business then let’s connect.
Contact my office: hello@theprofitcoach.co.uk
LinkedIn: https://www.linkedin.com/in/joshua-keegan/?originalSubdomain=uk
VALUABLE RESOURCES
FREE ACCESS TO The Recruit Right Framework
SYS Recruitment Series Resources: Bit.ly/sys-10
Facebook Group: Systems and Outsourcing
Systems and Outsourcing Website
ABOUT THE HOST
Steve used to be a slave to his business but when he moved to Sweden in 2015, he was forced to change the way he worked. He switched to running his businesses remotely and after totally nailing this concept he decided to spend his time helping other small business owners do the same. Steve’s been investing in property since 2002, has a degree in Computing, and worked as a doctor in the NHS before quitting to focus full-time on sharing his systems and outsourcing Methodology with the world. He now lives in Sweden and runs his UK-based businesses remotely with the help of his team of Filipino and UK-based Virtual Assistants.
Most business owners are overwhelmed because they don't know how to create systems or get the right help.
Our systems and outsourcing Courses and coaching programme will help you automate your business and work effectively with affordable virtual assistants. That way, you will stop feeling overwhelmed and start making more money.