Welcome to the Building the Premier Accounting Firm podcast with host Roger Knecht. This week, Roger sits down with Blagoja Hamamdjiev, CEO of Modeliks, to delve into the critical aspects of business funding and financial planning. The conversation centers around simplifying financial processes, the importance of teaching money management to children, and the challenges and strategies involved in accurate financial forecasting. Key Themes from this Episode: Financial Forecasting: Blagoja highlights common challenges of financial forecasting. He shares strategies for creating accurate financial models based on operational drivers. The hosts discuss how to build revenue projections for diverse business types, including restaurants and online stores. Key Performance Indicators (KPIs) and Benchmarking: Roger highlights the importance of KPIs and benchmarking against industry norms. The hosts explain why utilizing NAICS codes and financial ratios for realistic financial forecasts brings benefits to your firm. Industry-Specific Models: Blagoja shares advantages of ready-made models like those used by Modeliks. Roger shares how these models may save time and effort for accountants and clients. Blagoja emphasizes the importance of facilitating quick customization and strategic planning over a five-year horizon. Attracting Investors: The hosts explore how to link operational KPIs with financial outcomes. STAR Program: Focus on accountability through KPIs tied to forecasts. Value of financial planning services, including fractional CFO services and management reporting. Budgets and Cash Flow: Understanding the importance of budgets and cash flow. Transitioning to advisory services. Additional Services: Enhancing client relationships by comparing actual results to forecasts. Identifying key financial metrics for business success. We thank you for joining us once again for another exciting episode of Building the Premier Accounting Firm. Please subscribe to the show on the podcast platform of your choice, and learn more about how you can start your accounting business at 435-344-2060. Sponsors: Universal Accounting Center Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth. Offers: Get a FREE copy of these books all accounting professionals should use to work on their business and become profitable. These are a must-have addition to every accountant's library to provide quality CFO & Advisory services as a Profit & Growth Expert today: "Red to BLACK in 30 days – A small business accountant's guide to QUICK turnarounds" – This is a how-to guide on how to turn around a struggling business into a more sustainable model. 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"Your Profit & Growth Expert" - Your business is an asset. You should know its value and understand how to maximize it. Beginning with the end in mind helps you work ON your business to build a company you can leave so that it can continue to exist in your absence or build wealth as you retire and enjoy the time, freedom, and life you want and deserve. Learn what it is you can do to become an author, leveraging your expertise to market your services effectively and get the clients you deserve. This is a webinar you don't want to miss. Learn from Mike Capuzzi what a Shook is and how you can use it to position yourself as the Premier Accounting Firm in your area. This is a must-see presentation so get ready to take some great notes. In addition to becoming an author, see what you can do to follow the Turnkey Business plan for accounting professionals. After more than 40 years we've identified the best practices of successful accountants and this is a presentation we are happy to share. Check it out and see what you can do to be in business for yourself but not by yourself with Universal Accounting Center. It's here you can become a: Professional Bookkeeper, PB Professional Tax Preparer, PTP Profit & Growth Expert, PGE Next, join a group of like-minded professionals within the accounting community. Stay up-to-date on current topics and trends and see what you can do to also give back, participating in relevant conversations as they relate to offering quality accounting services and building your bookkeeping, accounting & tax business. The Accounting & Bookkeeping Tips Facebook Group The Universal Accounting Fanpage Topical Newsletters: Universal Accounting Success The Universal Newsletter Lastly, get your Business Score to see what you can do to work ON your business and have the Premier Accounting Firm. Join over 70,000 business owners and get your score on the 8 Factors That Drive Your Company's Value. For Additional FREE Resources for accounting professionals check out this collection HERE! Be sure to join us for GrowCon, the LIVE event for accounting professionals to work ON their business. This is a conference you don't want to miss. Remember this, Accounting Success IS Universal. Listen to our next episode and be sure to subscribe. Also, let us know what you think of the podcast and please share any suggestions you may have. We look forward to your input: Podcast Feedback For more information on how you can apply these principles to start and build your accounting, bookkeeping & tax business please visit us at www.universalaccountingschool.com or call us at 8012653777

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