Why Revenue is a Vanity Metric (and what to watch instead)

Using accounting as a useful business tool is harder than it sounds. Most of us don't really know what we should be looking at or how to interpret it.In today's episode, you'll learn some counter-intuitive wisdom and financial truths you can start using immediately to accelerate you light years ahead of the competition.Key Takeaways:How cash conversion cycle (CCC) is the most important key performance indicator for your financesThe biggest financial challenges merchants faceWhich financial metrics you should be actively monitoringHow to be smarter about discountingAvoiding the common mistakes Ecommerce merchants make with their financesOur guest today is Jason Andrew, a chartered accountant, founder, and business advisor to high-growth businesses. His accounting firm, SBO.Financial, focuses on helping Ecommerce businesses with their numbers, ranging from bookkeeping and financial control to profit and cash flow maximisation strategies.In 2019, Jason published an entrepreneurial accounting book, Stark Naked Numbers, which he describes as "the 4-hour work week of business finance."Links MentionedBook: Stark Naked NumbersSBO FinancialLinkedIn: @jason-andrewThe Personal MBABook: All Marketers are LiarsSponsorsGet powerful marketing automation with Klaviyo's revenue-driving email platformTry Bold Product Upsell, free trialSave 20% on Turbo, a blazing fast Shopify theme - Use code PODCAST20 at checkoutImprove your shop’s search engine ranking with Venntov SEO Meta ManagerNever miss an episodeSubscribe wherever you get your podcastsJoin Kurt's newsletterHelp the showAsk a question in The Unofficial Shopify Podcast Facebook GroupLeave a reviewSubscribe wherever you get your podcastsWhat's Kurt up to?See our recent work at EthercycleSubscribe to our YouTube ChannelApply to work with Kurt to grow your store.SponsorsThis episode was made possible by Ecom Growers - In eCommerce, the difference between great and good email campaigns is hundreds of thousands of dollars Ecom Growers is an agency that figured it out so you don’t leave any sales on the table.