Your Money Machine Season 3 Review - Russell Colbourne

Russell Colbourne - "Your Money Machine"

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INTRODUCTION
Your business is Your Money Machine.  In this Show – I’ll take you under the hood of your enterprise and show you how to fine tune your business.  Get ready for lift off as we add rocket fuel to your profitability!  This show is focused on businesses that have launched and are preparing for exponential growth.

Are you sure you’re ready for exponential growth?  Getting your mindset right to transition from business owner to CEO.  Are you prepared to give up some control and trust others to help you build?  As well as ensuring all your systems and standard operating procedures have been documented and are in place, you will need to ensure your financial reporting provides you with the feedback you need to run your business. 

Show Objectives - The Why
Today's show provides a look back at the topics we covered in Season 3 and highlights some of the issues for business owners that will help you transition your business from the Covid recession of 2020 to the inevitable program of recovery in 2021. 

What You Need to Know - The What
These were the topics we covered in Season 3
1. Season 3 overview (5 Oct)
2. Reporting Rhythms as certain as day follows night (12 Oct)
3. The ABC of Rocket Ship Accounting (19 Oct)
4. Mission Control Value Mapping (26 Oct)
5. Standard Operating Procedures (2 Nov)
6. Fine Tuning your products and services (9 Nov)
7. Choose your Customers wisely - removing excess baggage (16 Nov)
8. Preparing for lift off - understanding your Income Ratios (23 Nov)
 9. Leaving Earth's Orbit - are you ready for exponential growth? (30 Nov)
10. Scenario Planning for the moon or the stars? (7 Dec)
11. Funding your Mission     (14 Dec)
12. Season 3 recap  (Today’s Show)

What You Need to Do - The How

• Listen to the Podcasts
• Download the show notes
• Engage with the material 
• Apply to your business

Shows 

• Previous: Episode 11 – Funding for your Mission 
• Next: Season 4 – The CFO Centre 12 Box Framework 

 
 
Written by Russell Colbourne, FCCA, GAICD
Your Money Machine

Russell is a CFO and Entrepreneur who has worked across a diverse range of industries over the past 25 years.  After a short service commission as a pilot flying Seaking Helicopters in the British Royal Navy, Russell studied business and qualified as a Chartered Certified Accountant (ACCA) in the UK. Since then he has been integral with the start-up of many successful companies and operations within larger organisations.  He has bought, sold and spun off business operations in the UK, Australia and the US. 

In 1994 Russell joined Sir Richard Branson’s Virgin Atlantic Airlines where he was responsible for a number of innovative services that were, at the time, ground breaking and helped revolutionise air transport.  From launching the world’s first limo boat on the River Thames to developing the world’s first handheld check-in device and implementing drive through check-in booths around the world, Russell has helped the Virgin Group deliver unparalleled customer service. In 2000 Russell was the first of the Virgin team to arrive in Australia to start a new low cost Airline, and within 8 months had built a team operating flights between Sydney, Brisbane and Melbourne.
 
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