Eva and David interview Tanya Titman who is the director of an accounting firm Consolid8 which recently merged with BDO where Tanya is still the director of Consolid8 and the head of strategic innovation for BDO in Australia.
Tanya comes from a business owners background, has experience in operating businesses outside of the accounting space and uses accounting principles to grow those businesses. In other words, Tanya shares ‘Real World’ knowledge.
In our interview we discuss Why tough times are coming into the Real Estate industry due to a lack of understanding the numbers in a business, How systematizing a business can have a HUGE impact on the value of a Rent Roll, how cloud has impacted the Accounting industry and how that change will impact Real Estate and the steps a Principal can take to start to understand the performance of a business and never be afraid to ask the Stupid questions.
2:22 – How Tanya’s interest in Accounting started back in High School managing the numbers for her parents business
3:40 – Why tough times are coming into the Real Estate industry due to a lack of understanding the numbers in a business
4:44 – How accountants have to complete a course in running a business yet business owners don’t have to and the impact that has
5:20 – Why Property Management is under pressure as a result of lower management fees and how that’s impacting the asset value of the business
6:37 – How systematizing a business can have a HUGE impact on the value of a Rent Roll
8:12 – Why change is a constant and moving your business around who you think your client will be in 5 years
9:14 – The change to people buying online and opportunities to improve efficiencies by moving Real Estate to a paperless online environment
11:07 – How moving to the cloud has impacted the Accounting industry and given business owners more choice
13:05 – The fear of seeing the numbers of a business and how Accountants haven’t empowered clients enough to understand their information
15:14 – Why business owners need to take responsibility for the numbers and why it’s normal not to understand them
18:10 – The steps a Principal can take to start to understand the performance of a business and never be afraid to ask the Stupid questions.