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

THE FLIP SIDE with Andy Mai

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