TFS#72 (VIDEO): Lakun Agrawal, Wavemakers Global CFO - How To Increase Your Accounting Profits & Cashflow

Lakun Agrawal is the CFO of Wavemakers ANZ. He is an energetic, driven leader with extensive senior management experience in both Australian and multinational businesses across the Asia Pacific. In this episode, Lakun explains to us how to increase our accounting profits and our cashflows! Follow Lakun: https://www.linkedin.com/in/lakunagrawal/ Episode Chapters: 00:00 Intro 00:30 Meet Lakun Agrawal 01:30 How To Be A CFO 03:10 What Is Chartered Accounting 04:50 Certified Practicing Accountants 06:50 Chartered Accountants vs CPA 08:20 In-house Accounting 09:40 Accountant Responsibilities 10:30 The Importance of Financial Forecasting 12:00 How To Manage Your Business Better 13:30 What Is Cashflow 14:45 The Fall of Xinja 17:30 Cashflow vs Profit 18:30 An Uber Case Study 20:35 Accounting Profits vs Cash Profits 22:30 Cashflow & Accounting Losses 26:00 The Advice From Bill Gates 27:51 How Much Capital Do You Have 29:35 Knowing Your Parameters 32:10 How To Become Cashflow Neutral 34:40 What A Really Good Accountant Would Do 37:00 Understanding Your Negative Delta 39:00 Side Hustle Funding 42:00 Passive Income 43:00 Setting Core Values 45:00 Schedule Your Life First 47:15 Good vs Bad Distractions 48:40 Making Conscious Decisions 50:00 Knowing When To Stop 52:30 Knowing Why You’re Doing It 54:00 How To Find A Good Accountant 57:30 Using Your Social Networks & Contacts 59:25 Business Advisors 01:02:50 The Power Of Networks 01:04:10 The Suburban Accountants 01:04:55 Most Overlooked Things In Business 01:07:35 Business Structuring 01:09:30 Reporting & Compliance 01:11:00 Tax Advisors 01:13:50 Outro