The Holistic Accountant: Recent Episodes
Stuart Wemyss & Mena Abraham
A holistic accountant's job is to generate wealth for their clients - it’s not just about minimising tax. They must show you how to use your business to build your personal wealth to achieve your financial and lifestyle goals. The most efficient way to do that is by adopting a holistic approach. This podcast shows business owners how to do that.
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The three "killers" thin margins, poor reach, and weak demand- tell you what's failing, but not what to build. In this episode, Stuart and Mena introduce VERT: Value, Engine, Reach, and Team the operating system underneath those symptoms, and the four things you actually control. By the end, you'll have a single model to run every business decision through, instead of juggling forty disconnected problems.
Mena maps the four pillars onto the three killers: margins sit at the intersection of Value (what you can charge) and Engine (what it costs to deliver); Reach gets you chosen but can't manufacture demand; and Team touches everything, holding the whole system together. Stuart then explains why VERT is a flywheel, not a checklist, each pillar reinforcing the next, so momentum comes from consistent pressure on the right point rather than one dramatic push across everything.
Mena shares the green flags and red flags for spotting your weakest pillar, and the misdiagnosis trap, where the symptom and cause live in different pillars. Stuart closes with the four-bucket test: a two-question filter for every decision, and a rule to focus your weakest pillar for ninety days while the rest run in maintenance mode.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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A thin margin and an empty pipeline both feel like effort problems, so owners respond with more hours. It rarely works. In this episode, Stuart and Mena reframe both as outputs of how a business is designed its pricing, positioning, and channels- not how hard anyone is trying. Working harder on a broken design just scales the problem and burns the founder out.
Mena starts with margin, and the distinction most owners never consciously made: are you a price maker or a price taker? In a price-taker industry like mortgage broking, the market sets the ceiling and effort can't move it. She lays out the three layers that shape margin: industry, business model, execution—so you can locate your own constraint.
Stuart then reframes reach as an asset you engineer, not marketing you bolt on, introducing the "trust path": why low-risk, frequent purchases convert fast while high-risk, infrequent ones need a long runway of proof. Mena names the two ways reach breaks: expensive reach that drains cash, and fragile reach where one channel carries too much, plus a simple stress test to expose it.
The takeaway: redesign the system rather than push through it.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Before you fix your product, your marketing, or your team, Stuart and Mena argue you have to pressure-test something more fundamental: demand. Get it wrong, and everything else simply compounds a weak foundation. The uncomfortable question most owners skip is deceptively simple: what problem are you solving, for whom, stated specifically rather than in flattering generalities? Plenty of clever products are just solutions looking for a problem.
The single best test is asking what it costs your customer to do nothing. When the cost of inaction is high, financially, emotionally, socially, motivation is real. Mena turns that instinct into a practical filter: urgency, frequency, and affordability, including whether a customer can actually fund the purchase at the moment the need hits.
Stuart then draws the crucial line between demand you capture and demand you must manufacture, why educating a market that doesn't know it has a problem is brutal, and the rare exception where a big player does the heavy lifting for you. Mena asks whether your market is quietly growing or dying, and how to read the early indicators.
The verdict? Compliments tell you nothing. Only a paid invoice tells the truth.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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When a business underperforms, owners tend to assume the cause is complex and set about fixing everything at once. It feels productive, and it almost always fails. Stuart and Mena open with a contrarian claim: struggling businesses are far simpler to diagnose than their owners think. The trouble usually traces to a weakness in just one of three fundamentals.
They lay out the three "killers" plainly. First, the revenue you don't keep: thin margins can make a business look healthy while leaving no buffer for mistakes, volatility, or investment. Second, a great business nobody finds, where genuine quality is worth little if the right customers never see it, and referrals get mistaken for a strategy. Third, the cost of demand you have to manufacture: the difference between capturing urgent, existing demand and slowly, expensively educating a market that doesn't yet feel the pain.
Running through all three is one sharp distinction, whether a weakness is structural (the industry makes it hard) or self-inflicted (your model or execution), because the fix is completely different in each case.
They finish with a two-minute self-score and a rule: work your weakest link for ninety days, and let the rest wait.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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After five years, Stuart and Mena are deliberately retiring a brand that was working, and the reasoning matters more than the rename. Through an accounting lens, they argue, you can tell what already happened to profit and cash, but never why a business produces those numbers or whether they'll repeat. A clean tax structure sitting on top of a fragile business is still a fragile business. Optimising the tax bill was only ever treating the symptom.
In this episode, they introduce VERT—Value, Engine, Reach and Team, the four reinforcing parts that actually drive business performance, and the test the whole year keeps circling back to: profit, multiplied by growth, made repeatable. It's a shift from looking backward at the scoreboard to understanding the machine generating the score.
They're also refreshingly clear about who the show is now for: owners of Australian businesses turning over roughly $1m to $100m who want to scale, lift profit, or keep their exit options genuinely open. And they spell out the promise that sets it apart: the decisions you make inside your business shape your wealth, your retirement and your lifestyle, not merely this financial year's tax outcome.
A new direction, and a sharper reason to listen.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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The holiday test is deceptively simple. If you took four weeks off with no phone, would your business hold its standard, or would it quietly degrade without you? For most business owners, the honest answer points not to a workload problem but to a design problem, and this episode tackles it directly.
Stuart opens by reframing the issue: a business that depends on the founder for most decisions is not really a business. It is a job that pays the owner to turn up. That dependency creates a single point of failure, limits growth, and reduces the business's value to any future buyer or successor, since the value is tied to the founder.
Mena challenges the most common objection that professional or technical work is too bespoke to systemise, and explains why the real barrier is usually that expert judgement has become automatic and invisible, not that it is genuinely impossible to document.
The episode then moves through a practical framework: how to prioritise the critical few processes rather than documenting everything at once, how to turn implicit judgement into decision trees and case libraries, why modern documentation lives in workflows rather than manuals, and how to give every process a named owner with real authority to maintain it.
Stuart closes with the metric that matters: count how many decisions escalate to you each month, and treat driving that number down as the real measure of progress.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Asking for customer feedback and then ignoring it is not a neutral act; it tells the customer more about the business than any service failure could on its own. This episode opens with a real example of a high-profile restaurant that solicited specific criticism, replied with a templated response, and confirmed the original concern in the process. It is a pattern more common than most business owners realise, and the commercial cost is significant.
Stuart and Mena work through why business owners are structurally poor at seeing their own weaknesses, why silence from customers is not evidence of satisfaction, and why not all feedback deserves equal weight. The discussion challenges the widespread use of Net Promoter Score, arguing that behaviour-based questions, whether a customer has actually referred the business, not whether they intend to, produce more honest and more actionable information.
The episode then moves to system design: how short the survey should be, when to ask, who owns the responses, and what a genuine reply looks like versus a template that bears no relationship to what the customer actually said. The B2B context receives specific attention, where feedback conversations work better as structured check-ins than post-project forms.
The closing decision rule is direct: a feedback system is only worth building if the business is genuinely prepared to act on what it hears. Anything less is a liability, not an asset.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Most business owners have at least one hiring regret, and most can trace it back to a decision that felt right at the time. The problem is rarely a lack of effort in the interview. It is a lack of structure before and during it. Gut feel tends to reward confidence, charm, and the ability to perform well in a conversation, none of which reliably predict how someone will actually perform in the role.
This episode introduces a structured, scorecard-based hiring process designed to replace impression-driven decisions with evidence. Stuart and Mena begin with the pre-work most businesses skip entirely: defining not just what the role involves, but what success looks like across three to five core accountabilities, each with measurable outcomes. From there, the discussion moves to how to assess strengths, experience, and attitude separately, and why attitude, despite being the hardest to evaluate, is often the most important of the three.
The scorecard itself becomes the thread running through the entire process, generating interview questions, enabling independent scoring across interviewers, surfacing meaningful disagreements, and ultimately transitioning into a performance management tool after hire.
The episode also covers why reference checks are evidence, not administration, how transparency at the offer stage shortens the onboarding gap, and why the cost of one poor senior hire can set a business back by twelve to twenty-four months.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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The proposed 2026 budget tax changes have generated significant concern among business owners, but most of the commentary has focused on politics rather than practical strategy. This episode cuts through the noise and addresses what small business owners should actually be thinking about before any of these changes become law.
Stuart and Mena work through three areas where the proposed changes have the greatest potential impact. On trust taxation, the discussion explores how limiting income splitting to family members on lower tax rates shifts the planning focus from who receives income to when and why an interposed company structure may offer meaningful flexibility under the new rules. On capital gains tax, the episode makes the case that the biggest risk for most business owners is not future CGT changes but failing to access the generous small business CGT concessions that already exist today, many of which require years of preparation to qualify for. And on negative gearing, the discussion examines what the removal of deductions means for the economics of established residential property, and why markets often create the best buying opportunities when sentiment is at its weakest.
The broader message runs through every segment: tax rules change, governments change, and business owners who build valuable businesses with clean structures and genuine flexibility consistently come out ahead, regardless of which policy environment they find themselves in.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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EOFY Planning for Business Owners: What to Do Before 30 June
With the end of the financial year fast approaching, business owners still have time to make decisions that can legitimately reduce tax, improve cash flow, and strengthen their financial position before 30 June.
In this episode, Stuart and Mena cut through the noise surrounding EOFY planning and focus on the practical strategies that matter most. They discuss the key areas every business owner should be reviewing in the final weeks of the financial year, including the timing of deductions, managing year-end cash flow, maximising superannuation contributions before the relevant cut-offs, and understanding how the instant asset write-off rules may apply.
The conversation also explores the importance of structure, substantiation, and documentation. Many EOFY strategies fail not because the idea was wrong, but because the paperwork, timing, or commercial rationale was not properly considered. Stuart and Mena explain the common mistakes business owners make when rushing to implement last-minute tax strategies and why acting under pressure often creates more problems than it solves.
Most importantly, this episode reinforces that effective EOFY planning is not about chasing loopholes or making purchases simply because they are deductible. It is about ensuring the decisions you have already made are properly documented, the opportunities available to you are not overlooked, and any action taken before year-end makes commercial sense as well as tax sense.
Whether you are running a small business, managing a growing company, or navigating your first EOFY as a business owner, this episode provides a practical framework to help you approach 30 June with greater clarity and confidence.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Owning your business premises feels like progress, security, control, and the satisfaction of paying rent to yourself rather than a landlord. But for many founders, it is a decision that quietly traps capital, reduces flexibility, and concentrates risk in ways that only become apparent years later.
This episode introduces the OpCo-PropCo framework as a structured way to think through one of the most consequential capital decisions a business owner can make. Stuart and Mena explain why the trading business and the property holding entity have fundamentally different risk profiles, return expectations, and time horizons, and why mixing them clouds decision-making and performance visibility for both.
The discussion covers how to model the rent-versus-buy decision properly, including opportunity cost, yield comparisons, and realistic assumptions about growth and space requirements. It also addresses the compliance obligations and structural pitfalls of related-party arrangements, the genuine constraints of using an SMSF to hold business premises, and the concentration risk that arises when both business value and personal wealth are tied to a single location.
The episode closes with a four-question OpCo-PropCo decision rule designed to bring commercial clarity to what is often an emotionally driven choice. Because owning the building should make the business stronger, not harder to run, harder to fund, and harder to sell.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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A second location, a new service line, a broader geographic footprint, expansion feels like the logical next step for a business that has found its footing. But for many founders, it is precisely where profitability begins to quietly unwind.
This episode confronts the expansion illusion directly: the belief that more locations automatically mean more profit. Stuart and Mena explain how revenue growth can mask margin compression, duplicated overhead, and the cultural and operational drift that sets in once founder oversight is stretched across multiple sites. The emotional drivers, ego, validation, boredom with the core, are named honestly.
The discussion covers how to model true break-even, including fully loaded costs, management time, training, and the inefficiency of ramp-up; how to set realistic timeline expectations across setup, launch, early traction, and stabilisation; and how to fund expansion without pulling capital and attention away from the proven engine. Structure decisions, branch versus subsidiary, liability containment, and intercompany pricing are framed as strategic choices, not administrative afterthoughts.
The episode closes with a clear expansion decision rule built around four questions every founder should answer before committing capital. Because fragmented, inconsistently run sites do not increase enterprise value, they reduce buyer confidence and complicate the eventual exit.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Project-based businesses face a fundamental structural problem: every quarter begins at zero. Revenue can look strong on the surface while cash flow remains volatile, pipeline uncertainty delays hiring decisions, and the founder stays personally essential to winning and scoping every engagement. Effort scales linearly. Value does not.
This episode challenges the treadmill dynamic head-on, starting with a clear diagnosis of why project businesses stall at scale, utilisation ceilings, margin leakage, scope creep, and inconsistent client experience. Stuart and Mena then reframe the recurring revenue conversation, pushing back on the idea that recurring means subscriptions only. Retainers, service contracts, bundled support, staged programs, and usage-based models all qualify; what matters is predictability and ongoing value, not billing mechanics.
The discussion covers how to productise what a business already does well, design offers clients stay for rather than exit from, get revenue recognition and tax timing right, and control churn before trying to scale acquisition. ARR is positioned not as a metric to report but as a tool to improve forecasting, hiring confidence, and investment timing, and ultimately as a proxy for business quality in the eyes of future buyers.
The closing decision rule is simple: Does this offer create ongoing value, or does it just extend delivery?
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Surplus cash flow is not the same as freedom; it is a decision point. And what a founder does with it reveals whether they are building income, lifestyle, or enterprise value. This episode frames lifestyle creep not as a personal failing but as a capital allocation problem with real commercial consequences.
Stuart and Mena explore why founders blur the line between personal reward and business extraction once cash pressure eases, and why emotional spending decisions made inside the business create both tax risk and strategic cost. The episode covers the Div 7A traps that follow poor separation, substantiation problems, and private use adjustments that turn "probably fine" into "hard to defend."
Beyond compliance, the discussion focuses on opportunity cost, what a $100,000 lifestyle upgrade actually costs when measured against the capability it could have funded instead. A key hire, a management layer, better systems, or advisory support can compound business value in ways a new car never will.
The episode closes with a practical capital allocation hierarchy and a four-question decision filter designed to bring discipline to every surplus dollar. Because the founders who build real wealth are not necessarily those who earn the most, they are the ones who allocate most deliberately.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Most businesses only take controls seriously after something goes wrong—and by then, the cost is already high.
In this episode, Stuart and Mena explain why controls become essential as a business grows. In the early stages, trust and visibility can be enough. But as complexity increases with more people, more transactions, and less direct oversight, that approach starts to break down.
The key point is simple: trust is not a control system. Even good people make mistakes, especially under pressure.
Stuart outlines a practical, risk-based approach to building controls without creating unnecessary bureaucracy. At the centre is the principle of separation of duties, ensuring no single person controls an entire process. He breaks this down into four clear stages: initiate, approve, execute, and reconcile.
The discussion focuses on where controls matter most, including cash, payroll, supplier payments, expenses, and refunds, and how to embed them into everyday workflows using systems, approvals, and audit trails.
Mena highlights the common failure points shared logins, informal approvals, and skipped reconciliations, and explains why strong controls are not about slowing the business down, but enabling it to operate with greater speed and confidence.
Done properly, controls reduce errors, minimise risk, and remove friction. They allow better decisions to be made, with fewer interruptions and less reliance on key individuals. Because in the end, it only takes one failure event to undo years of progress.
A clear framework for building a business that can scale safely without unnecessary complexity.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
Send us Fan Mail
Most Division 7A problems don’t begin with strategy; they begin with behaviour.
Money is taken out of the business without a clear plan, documentation falls behind, and by the time advice is sought, the structure is already under pressure.
In this episode, Stuart and Mena unpack why Division 7A issues are rarely technical at the start. They are usually the result of poor systems, unclear boundaries between personal and business finances, and year-end decisions made under time pressure.
Mena explains what Division 7A strategies, including 7-year and 25-year loan arrangements, are actually designed to solve. At their core, they are about managing cash flow, not eliminating tax. While longer loan terms can create breathing room, they can also extend poor financial habits if not managed within a disciplined structure.
The episode focuses on the real trade-offs: lower repayments versus higher long-term cost, and why executing clean records, proper documentation, and consistent processes matters far more than the strategy itself.
Stuart also walks through how to properly compare options, including dividends, bonuses, loan structures, or leaving profits within the business, with a clear emphasis on cash flow over tax optics.
At its core, this is a discussion about discipline. Division 7A strategies only work when they are part of a well-run system, not when the business is treated like a personal ATM.
A practical framework to help business owners access liquidity without creating larger problems down the track.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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“The tax deduction makes it worth it” is one of the most common and costly mistakes business owners make.
In this episode, Stuart and Mena break down why taxes should never be the primary reason for acquiring an asset. A deduction can improve the outcome of a good decision, but it cannot turn a poor investment into a good one.
The real question is far more commercial: will the asset generate a return that exceeds its total cost?
Mena walks through how to define that return properly, whether through increased revenue, improved margins, or reduced labour, and why vague assumptions around “efficiency gains” rarely hold up in practice. He also highlights the hidden costs many founders overlook, including maintenance, downtime, training, utilisation risk, and residual value.
The episode explores the practical differences between buying, leasing, and financing, focusing on what actually matters: cash flow, flexibility, and risk. It also challenges the appeal of cheap debt and instant asset write-offs, particularly when they lead to decisions driven by timing rather than long-term value.
A simple investment mindset underpins the discussion comparing total inflows and outflows over time and stress-testing the downside before committing capital.
If the returns are not clear, the decision should not proceed.
A grounded, commercially focused framework to help business owners make better capital allocation decisions without being distracted by tax.
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
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IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Most business owners focus on hiring costs while completely missing what their own time costs the business.
In this episode, Stuart and Mena unpack “The Delegation Tax,” the hidden cost of founders staying too involved in low-value work. It’s not salaries that hold businesses back; it’s bottlenecks. When decision-making, approvals, and execution all run through one person, growth slows, opportunities are missed, and the business becomes harder to scale.
Mena explores why “I’ll just do it myself” feels efficient in the moment but creates long-term drag, and the critical difference between operator speed and owner leverage. He introduces the concept of the hourly value ladder, showing how time spent on low-value tasks quietly erodes business performance.
The episode also breaks down what effective delegation actually looks like, from assigning clear decision rights to building simple control layers like approvals and audit trails. Without this, delegation often creates more interruptions, not less.
You’ll learn what to delegate first, how to avoid vague instructions that lead to rework, and why delegation should be treated as an investment, not a cost.
A practical, no-nonsense guide to removing yourself as the bottleneck and unlocking real scale.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena challenge one of the most common assumptions in business: that underperformance is a people problem. Instead, he makes the case that most issues inside a team stem from a lack of clarity, unclear expectations, mixed signals, and poorly defined standards.
They explain why most employees genuinely want to do good work, and how vague instructions like “do a great job” fail unless they are translated into specific, observable outcomes. From quality standards and turnaround times to communication and ownership, Stuart breaks down what “great” actually looks like in practice.
The episode reframes communication as the reduction of ambiguity, not simply talking more. Stuart highlights the difference between broadcasting information and creating true shared understanding, especially under pressure, during growth, or across busy weeks.
Mena then introduces a practical operating rhythm for teams, including daily huddles to align priorities, weekly meetings to improve systems, and monthly sessions to reset standards and direction. These structures help prevent small misunderstandings from becoming major problems.
Stuart also explores the role of scorecards, the value of addressing friction early, and the common leadership mistakes that create confusion, such as changing priorities without reset or assuming silence equals alignment.
The episode finishes with a simple but powerful diagnostic: before labelling something a people problem, ask whether the expectation was clear, the system supports it, and the capability exists.
A practical guide for leaders who want to build high-performing teams without unnecessary complexity or chaos.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Random distributions create random wealth outcomes.
In this episode, Stuart and Mena introduce the concept most business owners don’t have, but desperately need: a written capital allocation policy.
They break down how surplus cash should be intentionally directed across six competing uses: owner wage, tax, buffers, reinvestment, external investing, and lifestyle. Because if it’s not decided in advance, it gets decided emotionally.
They explore structural landmines like Division 7A traps, retained earnings build-up, arbitrary distribution caps, and how tax minimisation can unintentionally block wealth creation.
Then they outline a practical hierarchy: pay yourself properly first, build stability through buffers, treat reinvestment like an investment committee decision, and only then allocate capital externally or toward lifestyle upgrades.
This episode is about turning business income into durable wealth, not just higher spending. If your surplus seems to disappear each year, you likely don’t have a revenue problem. You have a policy problem.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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You think you’re making 40%. In reality, you might be making 15%.
In this episode, Stuart and Mena expose the “mark-up illusion”, the common mistake of calculating margin on materials alone while ignoring direct labour, superannuation, payroll tax, leave entitlements, contractor equivalents, and production-related costs.
When gross margin is miscalculated, everything downstream breaks: pricing, hiring, scaling, and cash flow planning.
They walk through a simple example that shows how small changes in margin dramatically outperform chasing revenue growth. Improving gross margin by just 3% can generate the same profit uplift as hundreds of thousands in additional sales, without increasing risk or working capital.
They also discuss margin volatility, broken cash conversion cycles, labour recovery rates, and why unexplained swings in gross profit are a red flag.
If you want to build sustainable wealth inside your business, this episode will challenge how you define cost of goods sold and why precision in your numbers compounds over time.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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You cannot scramble your way to a premium exit in 90 days.
In this episode, Stuart and Mena explain why serious exit preparation begins at least two years before you plan to sell, and why buyers immediately discount businesses that look messy, unclear, or founder-dependent.
They walk through what buyers are actually purchasing: predictable cashflow, transferable systems, and low risk. Not personality. Not a heroic effort. Not potential.
From tax structuring and Small Business CGT eligibility to clean financials, normalised EBITDA, contract hygiene, IP ownership, and key-person risk, they outline the practical checklist that protects your valuation multiple and your after-tax outcome.
They also introduce the “data room first” mindset: operate your business as if due diligence could begin tomorrow. Because missing paperwork, unclear adjustments, and unaddressed governance gaps don’t just slow deals, they reduce price.
If you’re building a business you may one day sell, this episode reframes exit not as an event but as a multi-year value creation strategy.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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At some point, every growing business owner faces the same dilemma: how do you get owner-level thinking from key staff without handing over real equity?
In this episode, Stuart and Mena unpack the concept of shadow equity incentive structures designed to drive performance and long-term thinking without introducing governance risk. Because real equity isn’t just upside participation. It comes with voting rights, decision influence, exit complications, and potential future conflict.
They explain the difference between real shares, ESOPs, phantom equity, profit share, and long-term incentive plans, and why many owners confuse motivation with ownership. Shadow equity, when designed properly, separates incentive from control.
They also cover the practical design rules: caps, hurdles, cashflow protection, transparency, reset mechanisms, and how to avoid perverse incentives that reward the wrong behaviour. Most importantly, we stress-test a simple model across boom years, downturns, and margin compression, because incentives that only work in good times are not incentives; they’re optimism.
If you want to create alignment without turning your cap table into a future negotiation risk, this episode gives you a framework to do it cleanly, transparently, and sustainably.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Here’s a confronting question: If you disappeared for 30 days, what actually breaks?
In this episode, Stuart and Mena unpack the Key Person Discount, the invisible valuation penalty applied when a business is overly dependent on its founder. Buyers, banks, and investors assume the worst when continuity relies on one individual, and they price that risk in quietly but aggressively.
They walk through the real failure points exposed when founders step away: authority bottlenecks, stalled approvals, missed compliance, decision paralysis, and team over-reliance. Then introduce a powerful concept, the sabbatical as a stress test, not time off, but a deliberate operational audit.
You’ll learn how temporary absence reveals structural weaknesses, how to put guardrails in place, and why a business that can’t run without you isn’t an asset; it’s a job.
This episode is about moving from effort to transferability, from income to enterprise value, and from concentration risk to real freedom.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Many business owners feel stuck in the uncomfortable middle: too big for basic bookkeeping, but not ready or willing to pay for a full-time CFO. The result? Numbers that exist, but don’t drive decisions.
In this episode, Stuart and Mena break down the three distinct layers of the finance function and why skipping or compressing them causes so many businesses to stall. They explain what bookkeeping is meant to do (and where it stops), why the controller role is the most misunderstood yet most critical layer, and when a Virtual CFO actually adds value.
You’ll learn how clean data becomes reliable information, and how reliable information turns into better capital allocation, pricing decisions, hiring choices, and risk management. They also call out a common trap: jumping straight to “strategy” conversations without trustworthy inputs.
This isn’t about job titles or org charts. It’s about matching financial capability to business maturity, so decisions are grounded in reality rather than guesswork.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Philanthropy changes when wealth reaches a certain scale. It stops being about one-off generosity and starts becoming a question of structure, intent, and legacy.
In this episode, Stuart and Mena explore Private Ancillary Funds (PAFs) and why they are increasingly used by high-net-worth families who want to give back in a deliberate, governed, and sustainable way. They unpack what a PAF actually is, how it works, and why it’s best understood as part of a broader wealth architecture, not a tax tactic or emotional response to causes.
Mena discusses the real costs and responsibilities involved, including setup, compliance, governance, and ongoing decision-making, as well as when a PAF clearly doesn’t make sense. More importantly, they explore when it does, particularly following liquidity events, within family offices, and where philanthropy is viewed as part of intergenerational identity.
This episode reframes giving as stewardship: aligning wealth creation, investment philosophy, family values, and long-term impact. For the right families, a PAF isn’t just a vehicle, it’s transformational.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Most business owners believe accounting is a commodity. The tax return gets lodged, the ATO is paid, and everything looks fine, so why pay more?
In this episode, Stuart and Mena unpack why choosing an accountant purely on price can quietly cost you far more over time, even when nothing appears “wrong”. They explain why tax and accounting stop being mechanical once a business grows, and why judgment, not compliance, is where real value (or damage) occurs.
Stuart explores how seemingly harmless defaults around profit extraction, entity structures, retained earnings, and Division 7A can compound silently over the years. No audits. No penalties. No obvious mistakes. Just missed opportunities, locked-in constraints, and future problems that become expensive to unwind.
You’ll hear why high-quality accounting isn’t about getting this year “right”, but about understanding how today’s decisions shape the next five years. Mena also discusses the difference between compliance-driven habits and strategic thinking, why conservative isn’t always optimal, and how many businesses only discover the cost of “cheap” accounting when they try to grow, restructure, or exit.
Finally, they share practical questions business owners can ask to assess accounting quality without needing to be accountants themselves.
If your business is evolving, this episode will challenge how you think about fees, value, and the decisions currently running on autopilot.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In the early years of running a business, most financial mistakes aren’t dramatic; they’re subtle, common, and quietly destructive. And by the time many entrepreneurs realise something is wrong, the damage is already done.
In this episode, Stuart and Mena break down the most common financial mistakes entrepreneurs make in their first three years and, more importantly, how a CFO would approach them differently.
We cover why mixing personal and business money creates blind spots, why profit does not equal cash, and how underpricing can quietly turn a business into an exhausting hobby. We also unpack the risks of unplanned debt, ignoring tax obligations, and trying to do everything yourself instead of building systems early.
You’ll learn how CFO-style business owners think about cash flow forecasting, pricing, debt, delegation, and financial targets, and why understanding your numbers is not optional if you want sustainable growth. We also explore when and why business structure matters, and how early decisions can either limit or accelerate long-term wealth creation.
If you’re in your first few years of business or planning to start, this episode will help you avoid the mistakes that derail otherwise great ideas, and replace guesswork with clarity, discipline, and control.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Most business owners glance at their financial statements and move on. CFOs do the opposite; they use them as a decision-making tool to spot risks early, improve performance, and protect cash flow.
In this episode, Stuart and Mena break down how CFOs actually read financial statements, in plain English, without jargon or accounting theory. They walk through the three core questions every set of numbers should answer: is the business profitable, is it financially healthy, and is it actually growing? You’ll learn why revenue is rarely the starting point, why gross profit margin tells you more about your business model than sales ever will, and how “subscription creep” quietly erodes profits over time.
They then unpack the balance sheet, the most misunderstood report, and explain how CFOs assess working capital, debt levels, asset quality, and whether a business can survive a downturn. From there, Mena shifts to the statement CFOs obsess over most: cash flow. Because many profitable businesses still fail, simply because cash comes in too late.
Finally, Stuart explores the CFO mindset itself, focusing on patterns, ratios, and trends rather than isolated numbers, and outlines a simple set of practical steps you can apply immediately to take control of your finances.
If you want to think more clearly, spot problems earlier, and run your business with confidence, this episode is essential listening.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena explore one of the most common and misunderstood questions business owners face: how to tax-effectively get money into and out of a company. Whether you’re starting a business, investing in one, or managing retained profits, understanding the right structure from the outset can save you from costly mistakes later on.
They walk through the key ways to fund a company, either by loaning money in or contributing share capital, and explain when each method is most appropriate. If there are multiple owners involved, Stuart and Mena highlight the importance of setting clear expectations upfront to avoid confusion between lenders and shareholders.
They also cover how to extract profits tax-effectively, including dividend strategies, managing franking credits, and how using a discretionary trust as the shareholder can create valuable flexibility. Division 7A traps are explained in simple terms, with guidance on how to avoid triggering unintended tax liabilities when accessing company funds.
Finally, they compare company structures with trusts, and outline why companies may be ideal for trading businesses, despite their added complexity. This episode is packed with strategic tips and practical insights to help you set up and manage your company the smart way, right from day one.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Mena and Stuart unpack the ins and outs of Australia’s often misunderstood 6-year CGT exemption rule for main residences. They explore how this powerful tax concession can help homeowners maximise profits when selling a property they no longer live in, particularly those who rent it out after moving. Listeners will learn the exact eligibility criteria, including how to ensure a property still qualifies as your main residence for tax purposes even while it’s earning rental income.
Stuart explains how the exemption resets if you move back in, while Mena walks through common scenarios, including how a full exemption applies if the sale occurs within six years, and how pro-rata tax is calculated if you exceed the threshold. They also highlight important strategies such as resetting the 6-year clock, obtaining accurate property valuations, and the critical CGT implications for couples with multiple properties.
The conversation also covers mistakes to avoid, like poor record keeping, incorrect main residence elections, and confusion around land tax. Finally, they issue a clear warning for expats: non-residents lose access to the CGT exemption entirely. It’s a must-listen for any property owner looking to sell smart and avoid unexpected tax bills.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena take a deep dive into one of the biggest and often most misunderstood taxes investors face, Capital Gains Tax (CGT). Whether you're dealing with property, shares, or business assets, they explain why the smartest CGT strategies begin not at the point of sale, but before you even buy the asset.
They start by breaking down how CGT works, who gets the 50% discount, and why holding structures, like companies, individuals, or discretionary trusts, make a huge difference in the final tax bill. Mena explores how to maximise your cost base by tracking all deductible expenses, while Stuart walks through the power of discretionary trusts to stream gains and reduce tax across beneficiaries.
Listeners will also learn about the generous small business CGT concessions, how to use financial year timing to their advantage, and when it may make sense to hold assets in a company structure. The duo highlights real-world examples, including property strategies that stagger gains over multiple years, and tactical planning tips for EOFY.
This episode is a must-listen for anyone wanting to reduce or eliminate CGT and understand why strategic ownership from the start is the real secret to long-term tax efficiency.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Mena and Stuart unpack the latest tax updates for the 2025–26 financial year, helping listeners navigate changes that could impact their personal finances and business planning. They kick off with the Super Guarantee (SG) increase to 12%, highlighting what this means for employers and employees alike. Next, they discuss the end of deductions for ATO interest charges, a significant shift that removes tax relief on General Interest Charges (GIC) and Shortfall Interest Charges (SIC) from 1 July.
Listeners will learn about the $150 energy rebate, a 30% home battery discount, and the extended $20,000 instant asset write-off, with a caution that this may drop to $1,000 next year. Mena and Stuart also cover PAYG withholding cycle adjustments, Victorian payroll tax threshold increases, and changes to luxury car tax for fuel-efficient vehicles.
With the Transfer Balance Cap (TBC) rising to $2 million, the duo explains opportunities for superannuation strategy ahead of retirement. They also remind businesses of upcoming reporting deadlines, including Single Touch Payroll (STP) finalisation by 14 July and PAYG variations. It’s a must-listen for staying informed and proactive with your 2025–26 tax strategy
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena unpack the five lessons that kept surfacing across 500+ founder interviews from The School of Hard Knocks, and translate them into actions for ambitious owners. First: persistence beats genius. Treat growth like a “game of doubles,” stacking small wins and showing up long after motivation fades. Second: reframe failure and take calculated risks; each “no” is a step closer to “yes,” provided you protect the downside and live to learn. Third: invest for freedom, not flash. Prioritise asset-building (real estate, equity, quality yield) over liabilities, use sensible leverage, and let compounding do the heavy lifting. Fourth: your circle sets your ceiling. Curate mentors and peers who compress your learning curve, explore joint ventures to scale, and stay generous because opportunity flows through trust. Fifth: mindset and meaning drive endurance. Align goals with values, optimise for time and energy, and build a business you actually want to run. Along the way, they share tactical plays, house-hack style sequencing, risk filters, weekly metric focus, and a simple “next best move” checklist to help you convert inspiration into outcomes. Different industries, same themes: the winners are consistent, coachable, owner-minded, and obsessed with building assets and relationships that outlast any single deal.
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena unveil a strategic shortcut for time-poor founders: five questions that cut through noise and pinpoint the few moves that truly move the needle. They start with “Why frameworks matter,” showing how focusing on choosing one or two high-value projects beats juggling 27 “priorities.” Then they work the 5-Question framework: (1) Where will we play? Define tight boundaries (industry, geography, customer, offer) to sharpen positioning and margins. (2) Who’s on the team? Replace owner-dependence with a small bench of A-players, clear accountabilities, and smart tech. (3) How will we win? Translate your edge speed, experience, niche, reliability, and trust into behaviors, pricing, and service. (4) What could kill the business? Name single-point fragilities (cash flow, key-person risk, system gaps) and build buffers. (5) What must get done? Pick 1–3 non-negotiable priorities for the next 30–90 days, think about fixing lead gen, redesigning pricing, hiring a key operator, or systemising onboarding. Along the way, they stress weekly metrics over quarterly retrospectives and share practical examples for Australian SMEs to boost Return on Payroll, reduce bottlenecks, and convert strategy into execution. The takeaway: clarity first, then speed. Answer these five questions honestly, and you’ll know exactly where to aim your 99% focus for compounding growth.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena unpack ten punchy lessons from Verne Harnish’s Scaling Up, plus a sharp LinkedIn distillation by Jennifer Berkowitz, and translate them for Australian SMEs. They start with the big two: why speed wins (compress decision-to-execution with short cycles, guardrails, and rapid prototypes) and why simplicity scales (a one-page strategy everyone can explain). Then it’s “you can’t grow what you don’t measure”: weekly, not quarterly, tracking of lead flow, conversion, average order value, labour efficiency, delivery time, and retention. They tackle Goldratt’s core idea, fix the single biggest constraint before revealing the most overlooked growth lever: pricing power (a 5–10% lift can drive 20–40% more profit). You’ll hear how to raise Return on Payroll through clearer roles, better talent, automation, and ruthless prioritisation; why the “Moneyball stat” is your inbound ratio; and how AI supercharges A-Players instead of replacing them. They argue for being someone’s favourite niche dominance over bland mass appeal, and close on the kicker: speed is useless without direction. Stuart and Mena leave you with three clarifying questions (Where are we going? How will we win? What matters this quarter?) and a practical checklist to turn momentum into measurable results.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this candid episode, Stuart and Mena unpack the red flags that signal it’s time to rethink your accountant or business advisor, and what “great” should look like instead. They start with the biggest warning sign: a reactive advisor who only appears at tax time. From there, they cover a checklist of concerns, including advisors who don’t understand your industry or goals, cling to outdated systems, hide behind vague invoices, sugarcoat tough truths, miss deadlines, or get defensive when you ask questions.
Stuart and Mena draw a clear line between bookkeepers who record history and advisors who help shape your future, forecasting cash flow, pressure-testing plans, and translating numbers into decisions. You’ll learn practical next steps if you spot problems: raise concerns directly, assess whether things improve, then run a clean transition if you switch, ensuring records, logins, and systems are handed over smoothly. They close with “green flags” to seek: proactive contact, plain-English explanations, industry fluency, modern tech for real-time visibility, and a partner who both celebrates your wins and challenges your blind spots. Bottom line: your advisor should add clarity, not confusion, and feel like part of your team, not just a name on your BAS.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this thought-provoking episode of The Holistic Accountant, Stuart and Mena challenge the traditional metrics of success in business. While financial milestones like profit, revenue, and market share have long been the gold standard, the question is: Is that really enough? They explore how modern entrepreneurs are redefining success to include personal well-being, work-life balance, purpose-driven impact, and long-term sustainability.
Stuart shares why hitting every financial goal can still feel empty if your work lacks meaning. At the same time, Mena highlights the rise of businesses that value culture, customer trust, and social responsibility just as much as financial growth. Together, they unpack the personal side of success, the dangers of comparison, and how to align your business outcomes with your values.
The duo also explores common traps, chasing vanity metrics, burnout disguised as ambition, and losing authenticity while pursuing someone else’s idea of success. They offer a practical framework for defining success on your own terms, incorporating financial, emotional, and cultural dimensions.
This episode is a must-listen for any entrepreneur or business owner looking to build a business that doesn’t just grow, but truly fulfils. Because real success isn’t just about doing more, it’s about doing what matters most.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode of The Holistic Accountant, Stuart and Mena dive into the complexities of business partnerships, why they’re formed, where they go wrong, and how to prevent them from falling apart. While many partnerships start with good intentions, complementary skills, and a shared vision, they can quickly unravel due to misaligned values, poor communication, unequal contributions, and a lack of role clarity.
Mena unpacks common reasons partnerships fail, including mismatched goals, blurred responsibilities, financial power struggles, and the absence of formal agreements. Stuart outlines early warning signs of trouble, such as disengagement, secrecy around finances, and passive-aggressive communication. They also explore how the initial “honeymoon” period can blind partners to potential incompatibilities until pressure mounts.
Most importantly, the episode offers practical advice for prevention: define roles early, align on values (not just vision), put legal structures in place, maintain scheduled communication, and agree on an exit plan while things are still amicable. Stuart and Mena stress that successful partnerships require more than good ideas; they need structure, self-awareness, and shared commitment. Whether you’re in a business partnership now or considering one in the future, this episode is packed with actionable insights to help protect both your business and your relationships.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena explore the powerful concept of synergy and how strategic integration can fuel sustainable business growth. They start by demystifying what synergy really means: intentional alignment, not accidental collaboration, and why it’s essential for small businesses, even those without large teams. From aligning goals between departments to reducing friction and duplication, synergy is all about pulling in the same direction.
The conversation then moves into vertical integration, owning or strategically aligning with different parts of the supply chain. Stuart and Mena discuss backward and forward integration, digital tools that enable “virtual” integration, and how businesses like Apple, Amazon, and Netflix have mastered structural synergy by integrating across their value chain.
They highlight how integration without synergy is ineffective, and how the best results come when systems and culture are aligned. Real-world examples and practical tips help listeners identify breakdowns in collaboration, align team KPIs, and build partnerships grounded in shared purpose.
Finally, they explore the human side of synergy, trust, communication, and leadership, and warn against over-integration or forced alignment. Whether you’re scaling a business or improving internal collaboration, this episode offers a practical roadmap for unlocking the synergy effect in your business.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena unpack the provocative, but crucial message behind the title “Don’t Trust Your Accountant.” It’s not about questioning your accountant’s integrity, but recognising the limits of what they can (and should) do for your business. Stuart explains why business owners must take full ownership of their financial understanding, because while accountants report the history, it’s up to you to fly the plane.
Mena highlights that accountants are compliance-driven, often focused on tax returns and financial statements after the fact, not strategy or real-time insights. Stuart delves into the core financial concepts every owner must grasp, including the difference between profit and cash flow, understanding unit economics, and knowing your break-even point. Mena then outlines why forecasting your tax position is vital and how to plan around different structures like trusts and companies.
They also discuss how growth consumes cash and why forward planning is essential for confident decision-making. Most importantly, they encourage business owners to treat their accountant as a partner, not a crutch.
If you're running a business and relying too heavily on your accountant to interpret your numbers, this episode is your wake-up call. Financial literacy isn’t optional; it’s your most powerful leadership tool.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena explore why every business owner should conduct regular health checks, not just when things go wrong, but as a proactive strategy for long-term success. They break the health check process into six core areas, starting with financial health, where Mena explains how to assess profitability, cash flow strength, and balance sheet resilience. Stuart then examines client and market health, highlighting the importance of avoiding overreliance on key clients, staying relevant in your market, and keeping your lead pipeline strong.
Mena dives into operational health, discussing the need for scalable systems, up-to-date technology, and robust risk management, including cybersecurity. Stuart covers people and culture, identifying key person risk, the value of staff engagement, and building capability for the future. Mena also unpacks strategic health, asking whether your vision is still clear, your competitive edge is still relevant, and whether you're actually executing on your strategy. Finally, Stuart turns the spotlight on the owner’s health: is the business still serving your lifestyle, delivering a return on effort, and capable of running without you?
This episode is a practical, thought-provoking guide for stepping back from the day-to-day and making sure your business is truly fit for the future.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena explore the lesser-known “1%ers” in business—small, smart strategies that can make a big difference to your personal lifestyle when implemented correctly. While most business owners focus solely on income, employees, and long-term value, Stuart challenges listeners to also think about how their business can improve everyday life, without crossing any lines.
Mena kicks things off by explaining how to maximise credit card reward programs through business expenses, turning points into luxury travel perks. Stuart dives into the electric vehicle (EV) Fringe Benefits Tax exemption and how owning an EV through your business can deliver both tax efficiency and personal enjoyment. Mena shares how combining work-related travel with leisure and leveraging loyalty programs can result in elite status benefits that flow through to your personal life.
They also touch on technology and education, how small businesses can supply multiple portable electronic devices tax-efficiently, and how conferences or leadership training can double as valuable personal development. Stuart wraps it all up by reminding business owners that with proper structuring and compliance, your business can support the lifestyle you want, not just your professional goals. A must-listen for business owners looking to get more value out of what they’ve built.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena shift the focus to young entrepreneurs, those building businesses but wondering how to build wealth beyond them. It’s easy to pour everything into your business when it feels like your best asset. But what happens if growth slows down or plans change? The biggest risk for entrepreneurs is having all their wealth tied to a single venture. That’s why this episode is packed with the right questions to ask your accountant or financial adviser if you want to protect what you’ve built and set yourself up for long-term financial freedom.
Stuart and Mena cover a wide range of strategic questions, from whether to buy your own home or invest first, to choosing between property, shares, or a blend of both. They explore how to use your borrowing capacity wisely, where to hold your investments (personally, trust, or company), and how to balance reinvesting in your business with building a portfolio outside of it. They also discuss protecting assets, managing liquidity, using superannuation, and preparing for future generations.
If you’re a business owner asking “what’s next?” financially, this episode gives you a roadmap to start building freedom outside your core business, one smart decision at a time.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena break down one of the most generous tax perks currently available to employees and employers alike: the Fringe Benefits Tax (FBT) exemption for electric vehicles. With so few genuine “free kicks” in the tax system, understanding how to maximise this benefit is essential for anyone considering a new car or looking to enhance employee compensation packages.
Mena begins by outlining the eligibility rules: the vehicle must be a zero- or low-emissions car, first held and used after 1 July 2022, used by an employee or their associate, and fall below the luxury car tax threshold of $91,387. From there, Stuart and Mena compare financing methods, from outright purchases and chattel mortgages (which offer ~25% tax savings) to novated leases, which can deliver up to 47% tax savings by salary sacrificing the total cost of ownership.
They also explain how a novated lease works, its impact on taxable income, and why it’s often the most tax-effective structure. Stuart closes with practical ways to leverage this exemption, whether for your own car, to incentivise staff, or as a retention tool in your business. If you're in the market for a new EV, this episode is a must-listen.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena uncover the most common accounting errors that can quietly cost business owners thousands in tax, compliance issues, or poor financial decisions. They begin by highlighting why your accountant plays a critical role as your de facto CFO, and how to spot red flags if things aren’t quite right. One of the biggest warning signs? A bank reconciliation that doesn’t match your records. Mena explains how overlooked discrepancies here can lead to under-reported profits, incorrect GST, or even missed fraud.
From there, Stuart and Mena alternate through a list of common accounting mistakes they frequently see, including poorly recorded director loans, unreconciled GST, misclassified expenses, inconsistent bookkeeping, and journal entries that go unreviewed. They also flag year-end issues like unadjusted stock levels or bad debts that can distort your true profit and tax position.
Mena wraps up with practical advice: if something feels off, ask questions, get a second opinion, or consider switching accountants. A short review could save tens of thousands in future headaches. Stuart closes with a reminder—your accountant should simplify decision-making, not make it harder. If they’re not adding value, it’s time to dig deeper. A must-listen for business owners who want more control over their financial outcomes.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena take a deep dive into the world of small-scale property development, highlighting both the potential rewards and the very real risks involved. Off the back of recent episodes about property spruikers selling uneconomical "development sites," they clarify what genuine small-scale development looks like, who it's suited to, and where it fits into a broader investment strategy.
Mena explains the typical scope of a small-scale project, think two to four dwellings, and outlines the knowledge, financial strength, and risk appetite required to execute one successfully. They discuss how to assess feasibility, the importance of zoning and council regulations, and how to target the right locations. Stuart and Mena also cover common red flags that indicate a project should be avoided entirely.
From financing and structuring to managing construction timelines, servicing loans, and avoiding costly mistakes, the episode offers practical advice for first-time developers. Stuart shares real-world insights on how to balance risk with potential returns, and Mena outlines actionable steps for those curious about getting started.
Whether you're seriously considering a small development or just want to understand the mechanics, this episode offers a grounded, evidence-based view on how to approach small-scale projects the right way.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this follow-up episode on succession planning, Stuart and Mena explore the second path: selling your business to an external buyer. Unlike a transition strategy, this approach involves a clean break, often preferred by owners seeking speed, lifestyle change, risk reduction, or when no internal successors are available. Mena begins by outlining the different types of buyers: strategic buyers (such as competitors looking to scale), financial buyers (like private investors or P/E firms), and the key distinctions between industry insiders and outsiders. Stuart then breaks down what buyers are actually purchasing, whether assets or shares, and explains why this matters for both tax outcomes and deal structure.
Next, Mena shares what makes a business attractive to buyers, including having strong systems, clear profitability trends, clean structures, and staff retention strategies. These elements take time to build, which is why business owners should begin preparing 2–3 years in advance. Stuart closes with a look at common pitfalls, like poor planning, unrealistic earn-out clauses, and lack of professional advice, and highlights how communication with staff and clients can make or break a successful sale.
This episode is essential listening for business owners considering an exit. Whether it’s a transition or sale, early planning gives you the power to choose the best path forward.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena kick off their new series on succession planning by exploring the transition pathway, where ownership and leadership of a business are progressively handed over to internal staff or family members. Stuart begins by defining what a transition strategy is and why it matters, highlighting how it can preserve a business’s legacy, protect its culture, and ensure continuity for clients and team members while reducing long-term risk.
Mena outlines how a well-executed transition, typically involving a gradual sale of equity to key staff, can keep top talent engaged and support business stability. Stuart shares how to choose the right successor, emphasising that equity should go to those who deliver irreplaceable value, not just loyal staff. They discuss how to structure the equity transfer, comparing issuing new shares versus selling existing ones, and how different business structures (company, trust, etc.) can impact the outcome.
The episode wraps with practical considerations such as fair valuations, profit distribution strategies, and the importance of a solid shareholder or unitholder agreement. Mena closes by reminding listeners that transition takes time, and success hinges on thoughtful planning. Tune in to learn when and how a transition strategy works best, and why, in some cases, a clean sale may be the better path (coming up in Episode 2).
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena unpack the three essential pillars of building a successful, scalable, and sustainable business: profit margin, distribution, and demand. They begin by breaking down profit margins, exploring what makes them sustainable, and how they impact your ability to attract talent and quality inputs. Additionally, they explain why every business owner must understand whether they’re a price maker or a price taker. They explore how businesses can use their unique selling proposition (USP) to charge higher prices and build long-term profitability.
Next, they dive into distribution, how to get your product or service in front of the right people. From calculating customer acquisition cost (CAC) to leveraging local SEO and digital tools, Stuart and Mena share smart, low-cost ways small businesses can compete with larger players. They also discuss segmentation and strategies to target the most profitable customer base.
Finally, they tackle the foundation of all business success: demand. Is your product solving a real problem? Are you riding a strong trend or trying to create a market from scratch? Stuart and Mena explore how to validate your idea, identify demand-driven opportunities, and strike the right balance between innovation and market readiness.
This is a must-listen for anyone growing a business the smart, strategic way.
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this practical and info-packed episode, Stuart and Mena demystify Business Activity Statements (BAS) for business owners, sole traders, and anyone new to GST and tax reporting. They begin by explaining what a BAS is, who needs to lodge one, and how often, depending on business turnover. You’ll learn when you’re legally required to register for GST (hint: it’s not just at EOFY), how to register correctly, and the difference between cash and accrual reporting, an essential distinction that affects how and when GST is declared.
Stuart and Mena also break down the mechanics of GST: how to collect it on sales, claim credits on expenses, and determine what you owe or get refunded. They explore other BAS components like PAYG Withholding and Instalments, and highlight common mistakes businesses make, such as claiming GST on personal expenses or mixing accounting methods.
The duo stresses the importance of annual GST reconciliation and outlines key compliance obligations, including invoice requirements and record-keeping rules. Finally, they discuss why engaging an accountant or bookkeeper early can help avoid ATO scrutiny, and how tools like Xero and MYOB support accurate lodgements. Whether you're just starting out or want to tighten your BAS processes, this episode is a must-listen.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena explore one of the most common and misunderstood questions business owners face: how to tax-effectively get money into and out of a company. Whether you’re starting a business, investing in one, or managing retained profits, understanding the right structure from the outset can save you from costly mistakes later on.
They walk through the key ways to fund a company, either by loaning money in or contributing share capital, and explain when each method is most appropriate. If there are multiple owners involved, Stuart and Mena highlight the importance of setting clear expectations upfront to avoid confusion between lenders and shareholders.
They also cover how to extract profits tax-effectively, including dividend strategies, managing franking credits, and how using a discretionary trust as the shareholder can create valuable flexibility. Division 7A traps are explained in simple terms, with guidance on how to avoid triggering unintended tax liabilities when accessing company funds.
Finally, they compare company structures with trusts, and outline why companies may be ideal for trading businesses, despite their added complexity. This episode is packed with strategic tips and practical insights to help you set up and manage your company the smart way, right from day one.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena take a deep dive into one of the biggest and often most misunderstood taxes investors face, Capital Gains Tax (CGT). Whether you're dealing with property, shares, or business assets, they explain why the smartest CGT strategies begin not at the point of sale, but before you even buy the asset.
They start by breaking down how CGT works, who gets the 50% discount, and why holding structures, like companies, individuals, or discretionary trusts, make a huge difference in the final tax bill. Mena explores how to maximise your cost base by tracking all deductible expenses, while Stuart walks through the power of discretionary trusts to stream gains and reduce tax across beneficiaries.
Listeners will also learn about the generous small business CGT concessions, how to use financial year timing to their advantage, and when it may make sense to hold assets in a company structure. The duo highlights real-world examples, including property strategies that stagger gains over multiple years, and tactical planning tips for EOFY.
This episode is a must-listen for anyone wanting to reduce or eliminate CGT and understand why strategic ownership from the start is the real secret to long-term tax efficiency.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Mena and Stuart take a close look at the pros and cons of purchasing a franchise and whether it’s truly the right path for aspiring business owners. They break down why buying into an established brand can fast-track revenue, provide a proven business model, and offer ongoing support in areas like training, marketing, and supply chain management. Stuart explains how franchises can simplify access to finance and deliver real advantages through economies of scale.
But it's not all upside. Mena unpacks the hidden costs, such as hefty upfront fees, ongoing royalties, and strict contractual obligations, that can catch new franchisees off guard. Together, they discuss the trade-off between brand leverage and personal freedom, and why limited autonomy can be a deal-breaker for entrepreneurs who value creative control. They also explore the risks tied to brand reputation, franchisor performance, and resale restrictions that may limit your future flexibility.
Through real-world examples and expert insight, Mena and Stuart help listeners assess when franchising makes sense and when it’s better to walk away. Whether you’re eyeing your first venture or looking to expand, this episode offers a grounded, practical lens on what franchising involves.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Mena and Stuart unpack the ins and outs of Australia’s often misunderstood 6-year CGT exemption rule for main residences. They explore how this powerful tax concession can help homeowners maximise profits when selling a property they no longer live in, particularly those who rent it out after moving. Listeners will learn the exact eligibility criteria, including how to ensure a property still qualifies as your main residence for tax purposes even while it’s earning rental income.
Stuart explains how the exemption resets if you move back in, while Mena walks through common scenarios, including how a full exemption applies if the sale occurs within six years, and how pro-rata tax is calculated if you exceed the threshold. They also highlight important strategies such as resetting the 6-year clock, obtaining accurate property valuations, and the critical CGT implications for couples with multiple properties.
The conversation also covers mistakes to avoid, like poor record keeping, incorrect main residence elections, and confusion around land tax. Finally, they issue a clear warning for expats: non-residents lose access to the CGT exemption entirely. It’s a must-listen for any property owner looking to sell smart and avoid unexpected tax bills.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Mena and Stuart dive into Australia’s complex tax system, using insights from a thought-provoking discussion paper by Matt Grudnoff of The Australia Institute. He examines how, when welfare and superannuation are factored in, Australia’s reliance on income tax may not be as unbalanced as critics claim. Still, Stuart raises the question: What could a more common-sense approach to tax reform look like?
He explores potential policy ideas, including introducing a luxury GST rate, capping the main residence exemption, and reconsidering the structure of capital gains tax, particularly the implications of taxing unrealised gains on balances above $3 million. He critiques this measure as a major revenue target that few Australians will be willing to pay, questioning its efficiency and fairness.
The episode also explores the limitations of inheritance tax, explaining how it can be easily circumvented, and whether there’s merit in offering CGT discounts for landlords who rent their properties below market value.
Drawing from the ProSolution team's paper on tax reform, he discusses smart alternatives that aim to balance fairness, simplicity, and sustainability. This episode is a must-listen for anyone interested in the future of tax policy and how reform could better serve Australians.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Mena and Stuart share practical strategies to streamline tax administration and reduce headaches for individuals and investors. They begin by discussing the value of using Xero, even for non-trading entities, as a powerful tool to centralise and simplify record-keeping. Next, they explore the benefits of wrap platforms for managing shares and investments, including consolidated reporting and time savings.
The conversation turns to property, where they advise having your property manager handle all expenses tied to each investment property, making EOFY reconciliations far easier. They also emphasise the importance of waiting for ATO pre-fills, often delayed by up to four months, to avoid premature or inaccurate lodgements.
Stuart and Mena highlight why working with a holistic advisory team matters, citing real-life client wins where critical documents were quickly accessible. They wrap up with insights on how modern bookkeeping is now scalable, affordable, and more efficient than ever. This episode is packed with sharp, actionable tips to help you get ahead of your tax obligations and focus on what matters.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Mena and Stuart unpack the latest tax updates for the 2025–26 financial year, helping listeners navigate changes that could impact their personal finances and business planning. They kick off with the Super Guarantee (SG) increase to 12%, highlighting what this means for employers and employees alike. Next, they discuss the end of deductions for ATO interest charges, a significant shift that removes tax relief on General Interest Charges (GIC) and Shortfall Interest Charges (SIC) from 1 July.
Listeners will learn about the $150 energy rebate, a 30% home battery discount, and the extended $20,000 instant asset write-off, with a caution that this may drop to $1,000 next year. Mena and Stuart also cover PAYG withholding cycle adjustments, Victorian payroll tax threshold increases, and changes to luxury car tax for fuel-efficient vehicles.
With the Transfer Balance Cap (TBC) rising to $2 million, the duo explains opportunities for superannuation strategy ahead of retirement. They also remind businesses of upcoming reporting deadlines, including Single Touch Payroll (STP) finalisation by 14 July and PAYG variations. It’s a must-listen for staying informed and proactive with your 2025–26 tax strategy
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Mena and Stuart explore whether making additional super contributions in your 30s and 40s is a smart tax planning move or a potential limitation on your financial flexibility. They break down the compelling benefits of contributing extra to your superannuation, including tax savings of up to 30% for high earners, the power of compounding over decades, and the ability to carry forward unused concessional caps for strategic top-ups. They also highlight super splitting with a spouse as a savvy way to equalise balances and improve future retirement outcomes.
However, it’s not all upside. The duo cautions that superannuation is illiquid; once it’s in, you can’t touch it until retirement age. They discuss how locking away funds could limit options for home upgrades, education, or business ventures. Listeners will also hear about alternative strategies, such as reducing debt or investing outside super, which may better align with medium-term goals.
Mena and Stuart advocate for a balanced, personalised approach: combining long-term super growth with short-term flexibility. If you’re juggling competing priorities like career, kids, or property, this episode offers timely insights and a strong case for seeking quality financial advice.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Mena and Stuart delve into the critical considerations for Australian business owners when creating a will. They unpack how your business structure, whether sole trader, partnership, company, or trust, determines what can be passed on and how. The duo explores the importance of aligning your business succession plan with your personal estate plan, from identifying future leadership to leveraging buy-sell agreements and regular valuations. They highlight the necessity of mapping out control over trusts and companies and planning for incapacity through tools like Enduring Powers of Attorney and alternate directors.
Listeners will gain practical insights into using testamentary trusts for tax efficiency, understanding CGT implications, and ensuring estate liquidity through insurance or succession agreements. Mena and Stuart also address the sensitive topic of family dynamics, offering tips to prevent conflict when business assets aren’t evenly distributed. Finally, they underscore the importance of choosing a capable executor and regularly reviewing your estate plan to keep it relevant.
Whether you're a solo entrepreneur or managing a complex business entity, this episode is packed with essential guidance to protect your legacy and ensure smooth transitions.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Using a corporate beneficiary, commonly called a bucket company, is a smart move for many trust structures, particularly when tax efficiency and asset protection are key goals. But as Stuart and Mena explain in this episode, setting one up requires more than just ticking a box.
They dive into the purpose behind corporate beneficiaries, including how they help defer tax, protect assets, and support reinvestment strategies. You'll learn about essential structuring steps, such as company setup, trust deed alignment, and family trust election considerations.
A big focus is the compliance risks under Division 7A, which often catch business owners off guard. The team breaks down what unpaid distributions mean, why a formal loan agreement is essential, and how the latest ATO guidance has changed the landscape.
They also explore dividend planning, franking credit strategies, succession, and long-term control, plus common traps to avoid.
If you're considering a corporate beneficiary as part of your trust strategy, this episode gives you the full picture so you can make informed, forward-looking decisions.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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This week, the mic flips! Mena takes the lead and interviews Stuart about the biggest lessons he’s learned in nearly 25 years of running a business. From the importance of focusing on internal resilience rather than external noise, to the three critical pillars—people, systems, and product—Stuart shares the wins, mistakes, and mindset shifts that have shaped his entrepreneurial journey.
They discuss why knowing your numbers isn't optional, how culture can make or break a team, and how early mistakes (like obsessing over short-term results) led to long-term insights. Whether you're just starting out or deep into your business journey, this episode is a goldmine of real-world wisdom from the frontlines.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Buying or partnering with a business isn’t just a numbers game. In this comprehensive episode, Stuart and Mena unpack the often-overlooked non-financial considerations that can make or break a deal.
From strategic alignment and cultural fit to customer base stability, employee morale, operational systems, and intellectual property—this episode guides you through the full landscape of due diligence beyond the balance sheet.
If you’re evaluating a business opportunity, this episode will help you make a thoughtful, strategic, and sustainable decision—not just a profitable one.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Getting profit out of your trading entity isn’t as simple as it seems—and doing it wrong could cost you. In this strategy-focused episode, Stuart and Mena dive into how to distribute profits in a way that aligns with your financial goals and keeps your tax bill as low as legally possible.
They explore thresholds for personal income when to use corporate beneficiaries or trusts, navigating Division 293, and avoiding Div 7A traps. Whether you need cash now or want to retain profits for future use, this episode equips you with the strategic insight to make the smartest move.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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An accountant’s job is more than ticking boxes—it’s about taking a 360° view of your finances. In this episode, Stuart and Mena outline what a true financial health check should include when your accountant prepares your year-end tax work.
They cover business health ratios, structural reviews, profit distribution planning, personal asset and liability audits, and key insurance and investment considerations. Whether you're a business owner or a PAYG client, this episode reveals the deeper layers of accounting that support long-term success.
📌 Referenced episodes:
- Business Structuring (S05E03)
- Financial Ratios & Health (S03E32)
- Asset Protection (S04E24)
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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A Labor Party win brings a wave of policy changes—some offering opportunities, others increasing complexity for small businesses. In this timely episode, Stuart and Mena unpack the key reforms and proposals affecting entrepreneurs and business owners.
From tighter labour market conditions and ATO crackdowns on trusts to the $3 million super tax and incentives like the extended instant asset write-off and energy grants—this episode breaks down what’s real, what’s likely, and what you should prepare for.
They also discuss housing market impacts, fee-free TAFE expansions, IR reforms, and the looming SG rate increase. If you're a small business owner navigating policy shifts under Labor, this episode is your essential briefing.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Want to dramatically grow your business profits? Stuart and Mena reveal that instead of focusing on dozens of small changes, most businesses should laser in on one to three profit multipliers.
They break it down into four critical areas: People, Pricing, Product, and Process—and show how mastering just one can transform your business. Learn how to build a culture that retains top talent, charge what you’re truly worth, refine your offerings, and create systems that scale.
With actionable examples, strategies, and tools, this episode is your roadmap to identifying and doubling down on the one area that could multiply your profits and set your business apart.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Sudden wealth sounds like a dream—until it isn’t. In this deeply insightful episode, Stuart and Mena unpack financial decision paralysis, a common yet overlooked phenomenon that hits when wealth arrives through inheritance, a business exit, or property windfall.
They go beyond the typical “overwhelm” narrative to explore identity shifts, fear of mistakes, conflicting advice, and how to reclaim clarity through a structured approach. From building your own decision-making principles to assembling a unified advisory team, this episode offers a practical playbook for regaining control.
If you’ve come into wealth—or anticipate doing so—this episode will help you move from reactive to empowered architect of your financial future.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
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IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Effective tax planning isn’t just for big corporations — it’s an essential lever for small business success. In this power-packed episode, Stuart and Mena walk through the ultimate small business tax planning checklist to help you preserve capital, reduce liabilities, and build long-term wealth.
They explore forecasting profit and tax positions, optimising superannuation strategies, reviewing bad debts, plant and equipment, FBT, stock on hand, and your business structure. Learn how to align tax planning with your commercial strategy and avoid the end-of-financial-year panic.
If you’re serious about building a thriving, tax-efficient business, this episode is your go-to guide.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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As 30 June approaches, Stuart and Mena shift focus to PAYG employees and individual taxpayers, sharing key tax planning strategies that can help you save money and avoid surprises at tax time.
From super contributions (including carry-forward and spousal strategies) to income protection insurance, salary packaging, home office expenses, and even timing of income, this episode offers practical tips to help you make the most of what's available to you.
They also highlight deductions you might be overlooking and how negative gearing and prepaying interest can play into your tax strategy. If you’re a PAYG earner looking to minimise tax and boost your financial position, this is the episode for you.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Audit activity is ramping up fast. In this crucial episode, Stuart and Mena reveal the sharp rise in ATO audits they've seen in the past few months, with more cases than in their combined careers to date. If you're a business owner, investor, or employee with deductions, this is a must-listen.
They break down the key audit hotspots the ATO is zeroing in on right now:
• Rental Properties – especially repairs vs. capital improvements and incorrectly claimed interest on mixed-use loans
• Work-Related Expenses – With the updated fixed-rate method for working from home now in full effect, comprehensive records are no longer optional
• Property & Construction – audits are targeting GST misreporting, incorrect CGT treatment, and unreported sales tied to real estate transactions
Stuart and Mena offer practical guidance on how to stay compliant, choose the best deduction methods, and avoid common traps. They also stress the importance of a proactive, holistic accountant and highlight the benefits of audit insurance.
If you want to stay off the ATO’s radar and keep your finances audit-proof, don’t miss this timely episode.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Want to boost your borrowing power without compromising your long-term tax strategy? In this episode, Stuart and Mena unpack the critical tax strategies that can enhance your ability to secure loans while maintaining wealth-building goals.
They dive into key tactics such as strategically increasing taxable income, delaying deductible expenses, and optimizing distributions from trusts and companies. They also explore loan structuring strategies—like refinancing to lower repayments, using offset accounts, and prepaying interest—to improve serviceability in the eyes of lenders.
Choosing the right ownership structure can also impact borrowing power, and they break down the pros and cons of personal, trust, and company ownership when seeking financing. If you’re looking to invest in property or grow your business while maximizing your tax position, this episode is a must-listen!
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Traditional estate planning can be complicated, with legal disputes and tax burdens creating hurdles for beneficiaries. In this episode, Stuart and Mena explore an alternative—giving a living inheritance—and the financial strategies that make it a powerful tool for wealth transfer.
They discuss how a living inheritance allows beneficiaries to receive financial support when they need it most, such as buying a home, starting a business, or raising children. They also cover tax optimization strategies, including capital gains tax (CGT) planning and superannuation benefits, ensuring that wealth is transferred efficiently.
With structured gifting, trusts, and asset protection strategies, a living inheritance can safeguard family wealth across generations while allowing you to witness the impact of your generosity. Whether you're planning for your children's future or looking to optimize your estate, this episode provides essential insights into making the right financial moves.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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What makes a great accountant invaluable to your business and finances? In this episode, Stuart and Mena go beyond compliance work to explore how a proactive accountant can save you money, reduce risks, and provide financial insights that fuel long-term success.
They discuss key accounting functions, from keeping your financials up to date and ensuring legal compliance to optimizing your tax position and leveraging technology to prevent audit risks. Beyond regular tasks, they highlight how one strategic financial decision—whether triggered by a tax law change, a new business opportunity, or a financial restructuring—could save you thousands and pay for your accounting fees many times over.
Your accountant should take a holistic approach, helping you achieve financial and lifestyle goals rather than just crunching numbers. Tune in to learn what to expect from an accountant who truly adds value to your wealth strategy.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Managing business profits effectively is crucial to minimising tax risks and optimising cash flow. In this episode, Stuart and Mena break down the complexities of withdrawing business income for personal use and the potential tax consequences if not done correctly. Many business owners assume they can freely access business profits, but the ATO closely monitors such transactions.
They discuss the risks of high retained earnings, how to legally and tax-efficiently withdraw funds, and strategies for handling major financial needs—whether it's paying off a home loan, funding an investment, or preparing for retirement. Learn about Division 7A loans, dividend strategies, and structuring techniques that can help you use your business cash wisely while staying compliant.
If you're a business owner looking to balance tax efficiency with wealth-building, this episode is packed with valuable insights!
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Thinking of making the transition from an employed medical practitioner to running your own private practice? In this insightful episode, Stuart and Mena break down everything you need to know about structuring your business, protecting your assets, and optimising your tax position as a self-employed medical specialist.
The duo dives into the ongoing debate around sole trader vs. corporate or trust structures, shedding light on the real impact on asset protection and tax minimisation. They discuss how professional indemnity insurance plays a crucial role in shielding your assets and explore strategic financial moves—like using a partner’s name for property ownership or leveraging company and trust structures for investments.
On the tax front, they tackle personal services income (PSI) rules and how medical professionals can legally maximise deductions—whether through employing a spouse for admin work, utilising property equity for tax-efficient expenses, or making strategic superannuation contributions.
Wealth planning is also on the agenda, from the benefits of owning your practice premises via an SMSF to leveraging banks’ favourable lending terms for medical professionals. Whether you're considering private practice or looking to refine your financial strategy, this episode is packed with practical insights to help you secure your financial future.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Podcast Episode: S05 – E03 – The Art of Business Structuring
Getting your business structure right from day one can make or break your long-term success. In this episode, Stuart and Mena unpack the often-overlooked art of business structuring and why it’s essential to align your entity type with your business goals, industry risks, and future plans.
Whether you're building a lifestyle business, planning to raise capital, or hoping to sell for maximum after-tax value, your structure matters. They explore the different structuring paths—sole trader, partnership, company, or trust—and the strategic implications of each.
From protecting intellectual property and limiting exposure in high-risk industries, to minimizing tax through efficient profit distribution and CGT concessions, this episode is packed with practical insights. Stuart and Mena also delve into state-based issues like stamp duty, land tax, and fringe benefits tax, which are often missed in the planning phase.
If you're starting a new venture or considering a restructure, this episode is a must-listen to ensure you set your business up for success, scalability, and strong exit potential.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this thought-provoking episode, Stuart and Mena dive into the future of accounting and how it’s set to transform by 2040. Gone are the days of paper-driven processes and purely compliance-focused roles. Over the past two decades, the industry has undergone a radical shift, with automation, AI, and prefilled data revolutionising how businesses manage their finances. But what’s next?
Looking ahead, accountants will no longer just be number crunchers; they’ll become strategic financial advisors, helping businesses navigate complex financial landscapes. Stuart and Mena discuss how AI and automation will redefine the profession, pushing accountants to focus on value-driven insights, financial planning, and business growth strategies.
What does this mean for business owners? The duo highlights the importance of embracing technology and working with firms that prioritise proactive advice over basic compliance. If you’re a business owner, accountant, or simply curious about the future of finance, this episode is a must-listen! Tune in to discover how you can stay ahead of the curve and leverage these changes to your advantage.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena kick off Season 5 of the HA podcast by highlighting the importance of business goal-setting at the start of the year. While personal New Year’s resolutions often take the spotlight, many business owners neglect to set clear targets—something Stuart and Mena argue can significantly impact success.
They discuss key areas to focus on, starting with a review of 2024’s financial performance. From managing expenses and improving margins to assessing inventory and fixed assets, they break down how to optimise operations. They also stress the importance of reviewing FY25 goals, adjusting tax planning, and refining investment strategies.
Marketing takes centre stage as Mena emphasises the need for a well-structured plan, setting clear objectives, and allocating budgets to maximise returns. Stuart rounds off the conversation by revisiting long-term business goals (BHAGs), ensuring business owners are actively working on the business, not just in it. They also explore the power of setting quarterly themes to keep teams aligned and motivated throughout the year.
If you’re looking to set a strong foundation for 2025 and drive your business forward, this episode is packed with valuable insights and practical takeaways.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Outsourcing your finance function might sound risky, but as Stuart and Mena explain, it can be a strategic game-changer for businesses at the right stage. This episode outlines scenarios where outsourcing makes sense—like scaling, cost efficiency, accessing advanced tools, or meeting compliance demands. The duo explores how outsourcing can free up resources, enabling you to focus on core business priorities. They discuss its benefits, such as expert advice, timely financial insights, and better risk management, while addressing common concerns like control and alignment with business goals. From handling seasonal workloads to leveraging cutting-edge financial technology, Mena and Stuart highlight the flexibility and strategic advantages of outsourcing. If you're contemplating ways to streamline financial operations and improve efficiency, this episode is packed with actionable insights to guide your decision.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena delve into the ins and outs of Employee Share Schemes (ESS) for small and medium businesses. They discuss how ESS can attract and retain top talent, particularly when capital is limited. By offering employees an ownership stake, businesses can foster loyalty, align employee interests with company goals, and create a motivated, long-term workforce. The episode highlights the flexibility of ESS in tailoring schemes to meet business needs, while also addressing challenges such as administrative complexity, ownership dilution, and tax implications. Mena and Stuart explore the risks of unclear or ineffective schemes and share tips for successful implementation, including the importance of legal advice and clear communication with employees. Whether you’re a start-up or a growing business, this episode provides a balanced view of the opportunities and pitfalls of ESS, helping you decide if it’s the right move for your company.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Stuart and Mena break down payroll tax, a significant revenue source for state governments, explaining how it’s calculated and why it’s often a point of concern for growing businesses. They review current payroll tax thresholds and rates across states, detailing what counts toward the threshold, from salaries and bonuses to fringe benefits and termination payments. Importantly, they address exemptions, such as those for apprentices and not-for-profits, and discuss the rules for grouping related entities. With insights on planning, like structuring business ownership and timing payments, Stuart and Mena provide listeners with actionable steps to manage payroll tax obligations effectively. This episode offers a clear guide for business owners close to threshold limits, helping them navigate payroll tax to avoid unnecessary costs.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena compare MYOB and Xero, two leading accounting software options in Australia. While both offer core features like payroll, bookkeeping, and inventory management, they have unique strengths suited to different business needs. Xero, designed as a fully cloud-based solution, stands out for its intuitive dashboard, extensive integrations, and customisable reporting, making it ideal for businesses needing in-depth financial insights. MYOB, though less user-friendly, provides robust inventory tools and tiered pricing, which may appeal to smaller enterprises. The discussion spans usability, pricing, features, integrations, and customer support, ultimately highlighting Xero as the preferred choice for dynamic, remote-friendly operations. Tune in to learn which software aligns best with your business goals and how each can streamline financial management.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Stuart and Mena explore the intricacies of the instant asset write-off, a tax incentive allowing small businesses to claim immediate deductions for assets under $20,000. This episode covers why the policy was introduced and how it benefits small business owners by simplifying deductions for essential business purchases. They explain the various thresholds and eligibility requirements, shedding light on the types of assets that qualify and key exclusions, like cars and some personal-use items. Stuart and Mena also discuss the practical considerations: keeping detailed purchase records, determining if assets primarily serve business needs, and considering whether to invest in new equipment before the June 2025 cut-off. By the end, listeners will understand how to make the most of this tax benefit, what future extensions may mean for business spending, and why careful planning is crucial in a constantly evolving tax landscape.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena delve into a real client case, showcasing how strategic financial planning can yield impressive savings and long-term financial security. This client, who started trading a new business in late 2022, has already seen great results, thanks to comprehensive support from due diligence and structuring to setting up efficient accounting systems.
Beyond the numbers, Stuart and Mena emphasise the importance of aligning personal and business goals, focusing here on funding a home purchase. Through thoughtful restructuring, they manage to make 72% of the client’s debt tax-deductible, securing a $66,000 annual tax benefit.
The episode unpacks essential takeaways, such as leveraging strengths and understanding that professional support is often worth the investment, especially in complex areas like tax planning. Listeners will gain insights into the advantages of a holistic accounting approach, the value of networking with trusted professionals, and how such strategies can transform financial outcomes while balancing lifestyle goals.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena delve into how AI and automation are rapidly reshaping the business world, highlighting the future of work. They discuss the shifting landscape, where traditional roles are disrupted as automation handles repetitive tasks, pushing creativity, critical thinking, and emotional intelligence to the forefront. This shift doesn’t signal a loss of jobs, but rather a pivot toward new types of roles that leverage unique human skills.
The conversation explores how AI augments rather than threatens the workforce, with tools like chatbots managing routine customer service inquiries while human agents tackle complex issues requiring empathy and problem-solving. The episode also covers the vital need for reskilling and upskilling, with studies showing that half of all employees will require training in digital skills, AI proficiency, and data analytics by 2025.
Stuart and Mena emphasise the advantages of AI in decision-making, where data-driven insights power strategic business moves across industries, from supply chains to finance. They conclude by encouraging businesses to embrace these advancements, focusing on continuous learning and adaptation to stay competitive. This episode provides essential insights for anyone looking to thrive in a tech-driven future.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this insightful episode, Mena and Stuart tackle the crucial signs of business failure that every owner should watch for. They reveal how stagnation can be just as detrimental as negative profit margins. Key indicators include a loss of employee morale, where high turnover and low engagement signal deeper cultural issues. Customer dissatisfaction, evident through increased complaints and declining loyalty, can also jeopardise growth.
The hosts delve into operational inefficiencies, highlighting the impact of ineffective leadership and process breakdowns. They explore the erosion of company culture, where a toxic environment stifles innovation and collaboration. Mena and Stuart also discuss brand erosion, explaining how a decline in market relevance and unclear messaging can dilute a business’s identity.
Additionally, they warn against strategic paralysis, where a failure to adapt or innovate leaves companies vulnerable to competitors. The episode concludes with a focus on the dangers of over-reliance on key individuals and the need for strong, visionary leadership. Don’t miss this essential discussion—recognising these signs early could be the difference between thriving and merely surviving!
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena discuss the importance of fanatic discipline in achieving long-term business success. Drawing a parallel with health and fitness, Stuart explains that, just like staying in shape requires consistent effort over time, business success is driven by small, simple tasks executed with unwavering discipline over months and years.
They explore the concept of "fanatical discipline," a term coined by Jim Collins, which refers to a business’s commitment to following specific practices and maintaining focus on long-term goals despite any external challenges. Mena highlights key characteristics of discipline, such as consistency, accountability, and long-term focus, which are essential for maintaining high performance.
The episode also outlines practical ways small businesses can apply this discipline, including defining core values, creating simple processes, encouraging accountability, and fostering consistent leadership. Stuart shares insights on how a disciplined culture can lead to sustained performance, resilience, and team cohesion, while Mena discusses actionable steps for implementing these practices.
Listeners will leave with a clear understanding of how fanatic discipline when embraced at every level of an organisation, can lead to sustainable growth and success.
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena explore the powerful Flywheel concept, originally developed by Jim Collins, and how it can drive sustainable growth in business. They explain that great companies don’t rely on one key strategy but instead build momentum through a series of interconnected, reinforcing activities that create a cycle of success. The episode delves into the components of the Flywheel, using real-world examples to demonstrate how it works in practice.
Stuart highlights the importance of continuous improvement and iteration, showing how companies can refine their processes and grow over time. Mena walks listeners through the steps a company can take to discover its own Flywheel, from identifying core values and customer insights to mapping key activities that drive growth.
This episode is perfect for business owners and entrepreneurs looking to unlock scalable, resilient growth. Stuart and Mena show how understanding the Flywheel can offer a more sustainable and effective approach than traditional strategies. Whether you’re familiar with the concept or learning about it for the first time, this episode provides valuable insights and actionable steps to help your business build lasting momentum.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart Wemyss and Mena explore strategies to enhance business productivity amidst Australia’s declining productivity rates. They begin by discussing the factors contributing to this decline, including a lack of competition, excessive bureaucracy, and a tight labour market. Both Stuart and Mena emphasise that businesses shouldn't wait for market forces to push them towards productivity but should actively seek improvements.
They share actionable tips across five key areas:
- Employee Productivity: Assess skills, set clear performance metrics, and foster open communication for feedback.
- Process Optimisation: Analyse workflows, automate tasks, and leverage technology to streamline operations.
- Resource Management: Optimise inventory and upgrade equipment to eliminate bottlenecks.
- Customer Relationship Management: Gather customer feedback, improve communication systems, and focus on the right customer selection to reduce inefficiencies.
- Financial Management: Regularly review expenses and ensure effective budgeting and forecasting.
Stuart and Mena conclude by highlighting that focusing on just one or two of these areas could lead to significant results, urging listeners to take proactive steps in driving productivity.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena introduce Jim Collins' book 'Great by Choice', focusing on how companies thrive in uncertain and chaotic environments. They explore the concept of "firing bullets, then cannonballs," where businesses test ideas with small, low-risk experiments before scaling successful ones. Using Apple as an example, they discuss how the iPod started as a small project but led to the launch of iTunes, which eventually became a multi-billion-dollar revenue stream.
The episode highlights the disciplined strategies of 10X companies like Microsoft and Intel, which outperformed their industries by consistently hitting performance benchmarks (the "20 Mile March") and developing Specific, Methodical, and Consistent (SMaC) practices. Stuart and Mena also delve into the concept of "productive paranoia," urging leaders to stay vigilant and prepare for potential risks, even in good times. They close the episode by encouraging businesses to test new ideas cautiously, validate them, and then invest in scaling them, reducing the risk of failure while fostering innovation.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Mena and Stuart dive into the various ways rising interest rates can impact businesses. They explain how higher interest rates directly affect business valuation by reducing multiples, as higher required returns lower company values. The discussion also covers the increasing costs of holding inventory and tighter payment terms from creditors due to higher interest rates.
They address the rising cost of capital for businesses seeking funding through credit cards, overdrafts, and bank bills, noting borrowing costs can now reach 7.5% to 8.5% per annum. Additionally, both consumer and business demand take a hit, with less discretionary spending available, which can slow business growth and alter purchasing behaviours.
Mena and Stuart highlight the challenges higher interest rates pose to personal cash flow needs from business, and they offer insights on navigating these conditions by focusing on sectors less sensitive to rate changes, securing contract revenue, and continuously adding value to customers regardless of the economic environment.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this podcast, Mena and Stuart emphasise the importance of staying focused on your own business strategy and pace. They caution against common mistakes like investing in unsuitable assets, withdrawing funds without considering tax implications, and being lured by quick-fix strategies due to FOMO.
They stress the need to define personal success without comparing oneself to others, advocating for steady progress over time. Managing cash flow, prioritising investments, and diversifying beyond business interests are key strategies they highlight.
Ultimately, they encourage listeners to trust their own path, resist distractions, and prioritise sustainable growth aligned with their own goals and values.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena explore why self-employed individuals often gravitate toward property investment and the key considerations they should keep in mind. They discuss the appeal of property as an easily understood and tangible asset, particularly for those with strong incomes but limited cash reserves. Property investment can offer control, tax advantages through gearing, and the potential for self-employed individuals to purchase their business premises, further integrating their business and personal wealth strategies.
However, they also highlight the common mistakes self-employed investors make, such as focusing on quantity over quality, delaying the maximisation of borrowing capacity due to accounting structures, and choosing the wrong ownership structure without considering all tax implications. Stuart and Mena emphasise the importance of understanding these pitfalls and maintaining adequate cash flow buffers to manage volatility.
The episode concludes with a discussion on why self-employed people shouldn't overlook shares as part of their investment strategy, noting the benefits of income, liquidity, and the ease of investing in diversified ETFs. If you're self-employed and considering property investment, this episode provides valuable insights to help you make informed decisions.
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10/5/23 - Should you own your business premises?
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Mena and Stuart discuss practical strategies for businesses to navigate an economic slowdown or recession in Australia, reflecting on the lessons learned from the 1990-1992 recession, where unemployment soared to 10.8% and interest rates approached 20%.
Key points include:
- Assessing Business Sensitivity.
- Scenario Planning.
- Strengthening Financial Resilience.
- Cost Management.
- Strategic Divestment.
- Personal Financial Impact.
- Developing a Contingency Plan.
This episode offers valuable insights for business owners looking to safeguard their operations and personal finances against the challenges of an economic downturn.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena explore strategies to maximise borrowing capacity from your business profits. They stress the importance of having a knowledgeable broker who can effectively advocate for you with bank credit managers. The duo highlights the significance of financial "add-backs," such as interest and depreciation, which banks often consider when determining serviceability. Properly reporting these expenses can substantially enhance your borrowing position.
They also discuss the distinction between regulated and unregulated credit, the benefits of using corporate tax rates for serviceability analyses, and when a corporate beneficiary might be advantageous. Liabilities can be a hindrance to borrowing, but they suggest paying down corporate liabilities if they impact your borrowing power.
Finally, they touch on how director payments can affect your loan application, particularly in partnerships. Stuart and Mena explain how dividends and salary/wage structures can be optimised to ensure the bank considers your income fully. For business owners looking to leverage profits for borrowing, this episode provides key insights and actionable tips.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena delve into the complexities of property development, offering valuable insights on how to structure your projects effectively. They tackle common misconceptions about development feasibility, emphasising the importance of consulting with a holistic accountant before making any significant investment decisions.
The discussion highlights the necessity of setting up a robust operating structure before beginning the planning process. Stuart and Mena stress the importance of clearly defining your intentions for the development, as tax treatments vary depending on whether you plan to build and sell or build and retain.
They explore key considerations like GST, the margin scheme, and capital account management, as well as strategies to minimise land tax and capital gains tax (CGT). The episode also covers partition agreements to avoid stamp duty, the benefits of joint ventures, and the critical importance of choosing a reputable builder with solid home warranty insurance policies.
Whether you're new to property development or looking to refine your approach, this episode provides essential guidance to help you navigate the process successfully.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena delve into the crucial topic of protecting your interests in the event of a relationship breakdown, especially when owning a business or investment entity. They discuss proactive steps to take when entering a new serious relationship, including setting up a Binding Financial Agreement (BFA) with the help of a reputable family lawyer, structuring business affairs thoughtfully, and ensuring both partners have independent financial, legal, and accounting advice to avoid conflicts of interest.
For those already in business, Stuart and Mena outline what to expect during a relationship breakdown. They emphasize the importance of a business valuation, particularly if it involves personal goodwill or exertion, and highlight the need to account for taxes in financial splits. They also discuss tax rollovers to guide asset division effectively.
The conversation touches on the emotional toll of a relationship breakdown and the necessity of planning who can manage business affairs during such times. Additionally, they recommend considering buy/sell agreements to stipulate business operations post-breakdown if both partners are involved.
Tune in to gain valuable insights and practical advice on safeguarding your business and financial interests in the event of a relationship breakdown, ensuring you're prepared for any eventuality.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena tackle the crucial topic of protecting your business from cybersecurity threats. With 59% of losses reported to the ACCC's Scamwatch in 2022 affecting small and micro businesses, they delve into common cybersecurity threats like ransomware, malicious software, phishing, and business email compromise. They highlight essential cybersecurity practices, such as regularly updating software, using strong passwords with multi-factor authentication, and backing up critical data.
Stuart and Mena offer practical steps for implementation, including setting up automatic updates, using password managers, maintaining a regular backup schedule, and developing basic cybersecurity training for employees. They also discuss additional protection measures, such as getting an IT professional to review your risks and considering cyber liability insurance.
The episode emphasises the importance of creating a cybersecurity policy and an incident response plan, outlining key elements and the necessity of being prepared for cyber incidents. They recommend resources and support, such as the Australian Cyber Security Hotline, the Digital Solutions - Australian Small Business Advisory Services program, and signing up for ACSC alerts and the Partnership Program.
Tune in to learn how to safeguard your business against ever-evolving cyber threats and ensure your cybersecurity measures are robust and up-to-date.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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Do you have a question? Email questions@investopoly.com.au and Stuart and Mena may answer it in the podcast.
In this episode, Stuart and Mena delve into the crucial topic of business insurance, outlining the various types of coverage business owners should consider to safeguard their operations. They discuss Public Liability Insurance, which covers third-party injuries and property damage caused by your business activities, and Product Liability Insurance, which protects against claims related to the products your business sells. Professional indemnity insurance is also highlighted, especially noting the type of PTA used, which covers damages from negligence or errors in services or advice provided.
They further explore Commercial Property Insurance for protecting premises and contents, Business Interruption Insurance for lost income during temporary closures, and Commercial Vehicle Insurance for business vehicles. Other essential coverages discussed include Workers' Compensation, mandatory for employee injuries or illnesses, and Cybersecurity Insurance to protect against cybercrime. Management Liability Insurance for directors and officers, Trade Credit Insurance against customer non-payment, and Equipment Breakdown Insurance for essential equipment repair or replacement are also covered.
Stuart and Mena emphasise the importance of consulting a knowledgeable broker experienced in your industry to ensure comprehensive protection tailored to your business needs.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Stuart and Mena dive into the crucial topic of asset protection for business owners. They explore the various risks that business owners face, both from a business and personal standpoint. On the business side, they discuss the importance of maintaining a safe workplace, managing employee entitlements and ATO liabilities, and the dangers of trading while insolvent. On the personal side, they highlight risks like personal injury on your property and the complexities of relationship breakdowns.
Stuart and Mena provide practical advice on how to safeguard assets through effective company structures and corporate trustees, emphasising the importance of not mixing business with personal investments. They also cover strategies to protect against relationship breakdowns, such as Binding Financial Agreements (BFAs) and retaining control over assets through specific legal designations.
Listeners will gain valuable insights into how to protect themselves from external creditors, the importance of consulting with an accountant who understands their specific risks, and why having a comprehensive asset protection plan is essential for long-term financial security. This episode is a must-listen for business owners looking to shield their assets from potential threats and ensure their financial future remains secure.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Mena and Stuart explore the power of financial modelling and why it's essential for your business. They discuss the limitations of standard financial reporting, which often provides a high-level overview but lacks the detail needed to make informed decisions. Financial models, however, are tailored to each business and offer a deeper insight into key performance indicators (KPIs) and metrics that truly matter.
Mena and Stuart explain how financial models can track specific objectives, such as revenue growth and expense management, offering a clearer picture of the underlying drivers and trends. This detailed analysis helps businesses forecast growth, allocate resources effectively, and evaluate project feasibility, including decisions about vertical integration.
Listeners will learn how financial models can act as a 'crystal ball,' providing actionable insights that go beyond the numbers, helping to achieve business goals and navigate future challenges. Whether you're looking to enhance performance, manage cash flow, or plan for strategic growth, this episode will demonstrate the transformative potential of financial modelling for your business success. Tune in to discover how to create a financial crystal ball that can guide your business towards a prosperous future.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
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In this episode, Mena and Stuart explore key strategies for planning your business for a successful new year. They start by emphasising the importance of reviewing the past year's performance through a thorough analysis of financial reports and key performance indicators, while also evaluating strengths, weaknesses, opportunities, and threats. They highlight the need to define clear, SMART goals that align with your business vision, and the importance of breaking down these goals into actionable projects and tasks.
The discussion then moves to resource allocation and budgeting, ensuring you have the financial, human, and material resources necessary to implement your plans. Mena and Stuart stress the value of involving your team in the planning process to gain insights and increase commitment. They also delve into creating a detailed financial forecast to project revenue, expenses, and cash flow, and identifying potential risks to develop effective contingency plans.
Additionally, they underline the importance of setting key performance indicators to measure progress and scheduling regular review sessions to keep your plan relevant and effective. By documenting your plan in a concise, written format, you'll ensure clear communication and easy reference.
Listen in for practical advice on making incremental improvements that add up to significant gains, and prepare your business for a thriving financial year.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Mena and Stuart tackle the challenging but crucial topic of how to fire a customer that doesn’t suit your business. They explore the impact of bad customers, who not only fail to refer new clients but also take longer to serve, increase business risk, and are generally less profitable and enjoyable to work with. Mena and Stuart explain that bad clients can hinder business growth and make it difficult to attract and retain great staff. They stress that success often comes from saying no to certain customers, even though many people find it hard to do so.
The discussion includes identifying what a good target client looks like and ensuring that the whole team understands this. Mena and Stuart provide practical strategies for firing a bad customer, such as increasing prices, setting future deadlines for service completion, or making excuses about capacity constraints. They highlight the importance of having a clear strategy for managing client relationships to ensure long-term business success.
Tune in for valuable insights and actionable advice on maintaining a healthy and profitable client base.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena delve into the top five reasons why businesses fail and offer practical advice on how to avoid these pitfalls. They start with the crucial issue of running out of money, emphasising the importance of adequate working capital, maintaining a profit margin, and keeping a financial buffer. Next, they discuss the impact of a poor business model or marketing strategy, highlighting the necessity of understanding how your business operates and effectively reaching customers while managing acquisition costs.
The conversation then shifts to poor margins, explaining that a business must generate profit to be sustainable and not just function as an underpaid job. They stress the importance of achieving good margins to enable growth, noting that stagnation equates to decline. Lastly, Stuart and Mena tackle the dangers of expanding too fast, using the restaurant industry as an example to illustrate how rapid growth can lead to decreased productivity, increased mistakes, and compromised quality.
Tune in to gain valuable insights and practical tips to ensure your business not only survives but thrives.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena delve into the top 10 hiring mistakes and the invaluable lessons they've learned along the way. They share candid insights on building a strong team, emphasising the importance of hiring slowly and firing quickly, and the necessity of quality over quantity. They pose a crucial question for business owners: "Would you enthusiastically rehire everyone in your business?" and suggest asking it regularly to stay ahead of potential issues.
The hosts discuss the significance of having difficult conversations, setting clear expectations, and the pitfalls of making excuses for poor performance early on. They highlight the importance of hiring for attitude and past expertise, underscoring that high performers typically have strong resumes but attitude and cultural fit are equally critical.
Listeners will learn why giving employees the right tools and resources, along with regular feedback and appreciation, is essential for fostering a productive work environment. Stuart and Mena also touch on the role of recruitment consultants, advising that while they can add value, they can't fully vet candidates like an insider can.
Tune in to gain practical advice on avoiding common hiring pitfalls and building a team that can drive your business to success.
For startups, check out their previous discussion on when to start employing staff in Season 3, Ep 20 (June 2023): https://www.holisticaccountant.com.au/2006849/13012692-when-should-you-start-employing-staff
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena dive into the world of customer feedback surveys, uncovering essential insights for business owners. They explore the Net Promoter Score (NPS) introduced by Fred Reichheld, a straightforward yet powerful tool for gauging customer loyalty and forecasting business growth. NPS segments customers into Promoters, Passives, and Detractors, each offering unique insights into customer satisfaction and areas for improvement.
Key takeaways include the importance of keeping surveys short, typically no more than 2-3 questions, and always acknowledging feedback to show customers their input is valued. The hosts discuss strategies like asking targeted questions to pinpoint high-value needs and responding effectively to negative feedback. Drawing inspiration from companies like Zappos, known for their exceptional customer service, they highlight the importance of addressing common service weaknesses and testing survey questions for clarity.
Stuart and Mena also debate whether businesses should always heed customer feedback, citing Apple’s success in maintaining a premium product focus despite demands for cheaper options. They introduce a compelling alternative to the NPS question based on Seth Godin’s recent blog, urging listeners to assess whether their customers are actively sharing their experiences.
Tune in to discover how to leverage customer feedback surveys to drive business growth and enhance customer loyalty.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena provide a comprehensive guide to end-of-financial-year tax planning strategies that can help maximise your tax savings. With a wealth of practical tips and considerations, they break down complex tax concepts into easily digestible insights.
Whether you're a high-income earner, a business owner, or simply looking to optimise your tax position, their advice covers a range of scenarios and opportunities. From maximising super contributions and utilising unused caps to navigating tax brackets and deductions, he offers actionable steps to potentially save thousands in tax liabilities.
Stuart and Mena's holistic approach also explores strategies for spouses, trusts, and businesses, ensuring no stone is left unturned in the quest for tax efficiency. Their clear explanations demystify the intricacies of tax planning, empowering listeners to make informed decisions.
With the end of the financial year rapidly approaching, this episode is a must-listen for anyone seeking to minimise their tax burden while staying compliant. Tune in to gain valuable knowledge and unlock potential savings that could significantly impact your overall financial well-being.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena dive into the critical considerations surrounding business mergers, offering valuable insights for entrepreneurs and business owners contemplating this strategic move.
They emphasise the paramount importance of cultural fit, exploring how aligning values, client bases, and work environments can make or break a merger's success. Stuart and Mena also delve into the potential opportunities and risks, such as expanding service offerings, achieving economies of scale, financial stability, valuation disparities, and potential control trade-offs.
With a pragmatic approach, they discuss the need to thoroughly assess the merger partner's financial health, tax implications, and exit strategies, should the partnership not unfold as planned. Stuart and Mena's candid advice underscores the complexities involved in these transformative decisions.
Whether you're actively considering a merger or simply want to stay informed, this episode offers a thought-provoking exploration of the key factors to weigh. Tune in to gain a deeper understanding of the nuances involved in successful business integrations and position yourself for informed decision-making.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Mena and Stuart delve into acceptable profit margins and strategies to improve them. They emphasise regularly reviewing and adjusting pricing to reflect cost increases while considering pricing power (Episode 5, Season 1). The hosts recommend analysing profit and loss statements, negotiating better supplier prices, and exploring alternatives to optimise input costs and inventory management.
They discuss evaluating employee performance, providing training, ensuring productivity-enhancing tools, and considering outsourcing to optimise labour costs. Maximising customer spending by offering higher-margin-related products/services is highlighted, using examples like Morning Market, Marian Wine Bar, and Cutler & Co.
The episode references a previous discussion (Episode 8, Season 4) on using cost accounting to gain granular insights into revenue and profitability by product, client, category, etc. Overall, it's a comprehensive, actionable guide for understanding and improving profit margins.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena discuss the challenges and potential strategies for businesses that are heavily reliant on a single major customer. They acknowledge that while having a large customer can be advantageous, it also poses significant risks due to the lack of diversification and potential loss of revenue if that customer relationship were to end.
The hosts outline three main options for businesses in this situation: 1) Actively pursuing new customers, potentially through acquisitions, 2) Vertically integrating or expanding offerings in a way that complements the existing major customer, or 3) Embracing the situation and aggressively building personal wealth.
Stuart and Mena caution against the pitfalls of inaction or attempting to mitigate risk by investing in unrelated passive income streams. Instead, they emphasise the importance of proactively addressing the over-reliance on a single customer to ensure long-term business sustainability and growth.
Throughout the episode, the hosts provide practical insights and thoughtful perspectives on navigating this common business challenge, making it a valuable listen for entrepreneurs and business owners seeking to manage customer concentration risks effectively.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena dive into the invaluable benefits of outsourcing your bookkeeping function, highlighting how it can be a game-changer for businesses seeking to streamline operations and boost profitability.
They emphasise the importance of having an expert team deeply integrated into your business, ensuring accurate data flow and enabling your accountant to provide meaningful insights. By outsourcing bookkeeping, businesses can improve invoice and receipt management, leading to faster payment cycles and better cash flow management.
Moreover, Stuart and Mena underscore the significant time savings that come with outsourcing this critical function, allowing business owners to redirect their focus towards core growth initiatives. They also discuss the advantages of tracking key performance indicators through real-time reporting, empowering businesses to identify drivers of profitability and areas for improvement.
Throughout the episode, Stuart and Mena make a compelling case for why outsourcing bookkeeping is a strategic move for businesses of all sizes, enabling them to leverage specialised expertise, enhance operational efficiency, and gain valuable insights for informed decision-making.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena dive into the different finance solutions available for asset finance and discuss the pros and cons of each option. They start by outlining the main types of asset finance:
- Chattel Mortgage - The lender takes a mortgage over a specific asset like equipment or vehicles and provides funding secured by that asset. This is one of the most common options.
- Hire Purchase - The financier purchases the asset and the client takes out a loan to pay it off over a fixed period, ultimately owning the asset. GST applies.
- Novated Lease - An agreement between the employer, employee, and financier where the employee uses pre-tax salary to make payments on a newly purchased vehicle.
- Sale and Lease/Hire Back - The client sells their existing asset to the lender and then leases it back, making rental payments.
Stuart and Mena highlight that chattel mortgages are most frequently used as they assist with cash flow. For employees, novated leases can be beneficial. They recommend considering balloon payments to further improve cash flow. However, the impacts on overall borrowing capacity need to be assessed.
The hosts advise speaking with a holistic accountant who can connect you with specialised asset finance brokers to determine the best solution for your specific circumstances and requirements.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena debunk common tax minimisation myths perpetuated by some accountants to attract clients. They delve into strategies often marketed as tax-saving methods but may not necessarily be beneficial in the long run.
One such myth revolves around the promise of quick tax refund turnaround times, which should not be the sole driving factor in choosing an accountant. Additionally, they address the misconceptions surrounding motor vehicle expenses and the potential pitfalls of focusing solely on negative gearing benefits when investing in property, which could lead to poor asset choices.
The hosts also caution against unnecessary upgrades of equipment or the use of overly complicated structures solely for perceived tax advantages. These practices may not yield tangible benefits and could potentially expose individuals to unnecessary risks or costs.
Through this insightful discussion, Stuart and Mena aim to empower listeners with a clear understanding of these common myths, encouraging them to make informed decisions and seek professional advice tailored to their unique financial situations.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena delve into a critical topic: "Who’s going to look after your business when you die?" Tune in as they navigate the complexities of estate planning for business owners, addressing key considerations to ensure the continuity and prosperity of your enterprise.
From selecting capable executors to identifying competent successors, Stuart and Mena guide listeners through the crucial decisions that shape the future of your business. Explore the intricacies of determining whether your estate will retain or sell the business, and gain insights into crafting essential documents like the letter of wishes and will.
Join the discussion as they shed light on safeguarding key personnel and licenses vital for business operations. Don't miss this episode packed with invaluable insights and actionable strategies to secure the legacy of your business for generations to come.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena delve into the intricate world of business borrowings, offering invaluable insights and strategies to navigate this crucial aspect of entrepreneurship. They shed light on the criteria commercial lenders use, emphasising the significance of future cash flows in lending decisions. Discussing security options like property or General Security Agreements, they provide clarity on tailoring these to suit your business needs effectively.
Listeners gain insight into specialised banking sectors, including medico, property development, franchise, and more, ensuring a nuanced understanding of tailored financial solutions. Stuart and Mena stress the importance of engaging a skilled specialist broker to navigate the borrowing landscape successfully.
Explore low documentation loan options, with a focus on leveraging property as security for accessing funding. Additionally, they highlight the "Grants and Programs finder" tool on business.gov.au, expanding opportunities for securing essential funding.
Whether you're a seasoned entrepreneur or just starting your business journey, this episode equips you with the knowledge and resources needed to secure vital funding for business growth and success. Tune in to empower your entrepreneurial endeavours with expert guidance on accessing business borrowings effectively.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena dive into the powerful world of cost accounting, unveiling strategies to gain deep insights into your business's profitability at the product or service level. They break down the essentials of cost accounting, sharing practical tips on how to accurately measure and analyse the true costs associated with each offering.
Key topics covered include identifying and tracking all direct costs, as well as effectively allocating overhead expenses. Stuart and Mena provide guidance on setting up your accounting system, leveraging general ledger codes and tracking mechanisms to capture the necessary data. They also explore additional reporting tools like Fathom, which can enhance your ability to dissect profitability metrics across different segments of your business.
Whether you're a seasoned entrepreneur or just starting out, this episode equips you with the knowledge and techniques to make informed decisions based on a comprehensive understanding of your cost structures. By mastering cost accounting principles, you can pinpoint areas for optimisation, streamline operations, and ultimately drive increased profitability. Don't miss this opportunity to unlock the power of data-driven cost analysis for your business.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this insightful episode, Stuart and Mena delve into strategic approaches for maximising the benefits of the 1 July Stage 3 tax cuts. They highlight the advantageous shift in the average tax rate, emphasising that in the financial year 2024, a $165k income corresponds to a 30% average rate, increasing to $200k in the next financial year (2025). Post-1 July, individuals can potentially take an extra $35k in their name.
The hosts explore the implications of the concessional cap increasing to $30k, enabling a post-1 July annual intake of $230k. They deliberate on the wisdom of delaying income to FY25 and offer a cautionary note about Div 293, advising listeners to keep income below $250k if feasible.
A key takeaway is the heightened importance of placing ungeared investments in the name of the person with the lowest income. The episode concludes with practical advice, urging individuals to bring forward any deductions in the current financial year (2024). This episode serves as a timely guide for viewers seeking to optimise their financial strategies in light of the upcoming tax changes.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena unravel the intricacies of minimising land tax, a looming concern expected to rise in the foreseeable future. They demystify the concept of land tax, emphasizing its assessment based on property holdings as of December 31st. The hosts advise listeners to scrutinise notices carefully upon receipt, underlining the significance of proactive examination.
The discussion delves into the financial barriers of changing ownership due to stamp duty and Capital Gains Tax (CGT), prompting consideration of alternative strategies such as grouping and discretionary trusts. Stuart and Mena explore actionable tactics to reduce land tax burdens and the feasibility of justifying associated costs against anticipated investment returns. Moreover, they ponder the viability of investing interstate as a means to mitigate land tax exposure.
This episode serves as a strategic guide for property owners and investors, offering practical insights into navigating the complexities of land tax while optimising financial outcomes in a shifting regulatory landscape.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena dive into a critical question: Should you own a car through your business?
Building on a previous discussion from March 2023 (S03-E09), they dissect the pros and cons of business ownership versus personal purchase. The episode delves into pivotal considerations like whether to register the car under your business name, exploring complexities such as GST implications and the potential for losses or gains upon sale.
Additionally, they unravel the intricacies of Fringe Benefits Tax (FBT) and weigh the merits of different vehicle types, from utes to electric vehicles to conventional cars. The discussion extends to financial strategies, weighing the benefits of borrowing against leasing or mortgage loans while factoring in borrowing capacity considerations.
This episode offers a comprehensive examination of a crucial decision many entrepreneurs face, providing invaluable insights to guide listeners towards informed choices regarding their business vehicle ownership.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
Embark on a strategic journey to business excellence with Stuart and Mena in this enlightening episode, where they unravel the intricacies of understanding and enhancing your business model. Offering a comprehensive breakdown of the nine vital components, the hosts provide a roadmap for entrepreneurs keen on refining their business structure. From crafting a compelling value proposition to navigating distribution channels and revenue streams, this episode serves as a practical guide for entrepreneurs at any stage. Stuart and Mena delve into the key factors that contribute to a robust business model, emphasising elements such as a strong value proposition, sustainable revenue streams, scalability, and adaptability to market changes. The hosts introduce the 3 P's—Product, Process, and People—as crucial benchmarks for evaluating the strength of your business model, offering actionable insights that resonate with both seasoned entrepreneurs and startup enthusiasts. This episode becomes a reflective space, encouraging entrepreneurs to assess the effectiveness of their current business model and explore avenues for improvement. Through thought-provoking questions like "How strong is your business model?" and "How can you make it stronger?" the hosts empower listeners to adopt a proactive approach to business strategy. Tune in for a harmonious blend of theoretical wisdom and practical considerations as Stuart and Mena demystify the complexities of business modeling. Whether you're navigating the startup landscape or steering an established enterprise, this episode provides invaluable advice to fortify your business foundation and guide you through the dynamic terrain of entrepreneurship. Don't miss the chance to gain insights that could redefine the trajectory of your business journey!
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
Dive into the intricacies of business success with Stuart and Mena in this illuminating episode, where they unravel the importance of understanding and improving your business model. The hosts break down the business model into nine essential components, providing a comprehensive framework that outlines how a company creates, delivers, and captures value. From defining the value proposition and identifying target customer segments to outlining distribution channels, customer relationships, and revenue streams, this episode serves as a roadmap for entrepreneurs seeking clarity on their business structure. Moreover, Stuart and Mena explore the factors that contribute to a robust business model, emphasizing the significance of a strong value proposition, sustainable revenue streams, scalability, healthy profit margins, and adaptability to market changes. Listeners are encouraged to consider the 3 P's—Product, Process, and People—as essential pillars for assessing the strength of their business model. The episode offers a reflective journey, prompting entrepreneurs to ponder the effectiveness of their current business model and explore avenues for enhancement. By posing questions like "How strong is your business model?" and "How can you make it stronger?" the hosts empower listeners to take a proactive approach to business strategy. Tune in for a blend of theoretical insights and practical considerations, as Stuart and Mena demystify the complexities of business modeling. Whether you're a seasoned entrepreneur or a startup enthusiast, this episode provides actionable advice to fortify your business foundation and navigate the dynamic landscape of entrepreneurship successfully. Don't miss out on the wisdom that could reshape the trajectory of your business!
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
Join Stuart and Mena in this episode as they unravel the crucial considerations for business owners contemplating retirement. With a treasure trove of insights, the hosts guide listeners through the key factors that shape the decision-making process when determining the fate of your business post-retirement.
The episode explores three primary options:
- retaining the business as a passive income stream
- selling it in full to maximize value
- selling to staff to realize some value while maintaining a connection to the business
Listeners are encouraged to introspect on their role within the business - are they a key person, or can the business operate seamlessly without their direct input?
Financial considerations take center stage as Stuart and Mena prompt reflection on whether the business owner needs the sale proceeds to fund their retirement. The potential buyer is also a crucial consideration, ranging from employees to larger businesses or even a listed entity. The hosts delve into the intricacies of maximizing value, offering strategic insights such as selling immediately, committing to work within the business for a specified period, or implementing a management team to scale operations. Timing becomes a critical element, prompting business owners to consider when they want to retire and whether a full or semi-retirement aligns with their vision.
This episode is a comprehensive guide for business owners at a crossroads, providing actionable advice and thought-provoking questions to help navigate the complex terrain of retirement decisions. Whether you're looking for a seamless exit or envision continued involvement, this episode is your compass for making informed choices and securing the legacy of your business. Don't miss out on the wisdom that could redefine your retirement strategy!
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, join Stuart and Mena as they unravel the key strategies for optimising business profitability by streamlining your product suite. The duo delves into the crucial importance of focusing on your customer, emphasising that trying to cater to everyone results in catering to no one. They advocate for identifying a clear target customer to enhance product resonance. The episode further explores the art of maximising profitability and return on investment by strategically concentrating efforts on the most lucrative products or services. Listeners will gain insights into leveraging data for decision-making, including assessing margins, and inventory turnover, and conducting thorough market and competitor analyses. Moreover, the hosts share valuable tips on enhancing sales conversion rates and streamlining the sales process by avoiding overwhelming choices for customers. Whether you're in the product or service business, the episode offers actionable advice, encouraging service businesses to assertively define the scope of their offerings to maximise value delivery. Tune in for a concise yet comprehensive guide to rationalising your product suite and unlocking the full potential of your business profitability.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena discuss strategies to sub-divide land and common traps that people fall into, including:
- Revenue v. capital account – you need to establish what your intention is from the onset.
- Double duty – ensure planning is started after a nomination to avoid double duty
- Partition agreements – if you’re going into partnership/JV, ensure the title is set up correctly to allow each respective party to take their agreed-upon share without incurring duty.
- Use of the margin scheme – what is the margin scheme and how it operates?
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena discuss strategies that can optimise your sale proceeds and the marketability of your business, including:
- Financials – this is the first component that any prospective purchaser assesses.
- Operations – businesses that are reliant on the current owner or their respective reputation are less desirable to purchase than those who have the Goodwill associated with the brand.
- Get rid of dead weight – stock and staff
- Customers – purchasers are weary if your customer base is heavily weighted to a small group
- Structuring – Michael Tselepis's example
- CGT concessions
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena discuss strategies that optimise your ability to repay your home loan, including:
- Everyone's situation is different.
- If you earn business income and you encounter an unexpected tax liability.
- Borrow to invest in shares.
- Div 7A loan from the corporate beneficiary.
- Distribution to family members and they deposit cash in your offset account.
- Business restructure.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena discuss tax-related matters that apply to inheritance, including
- Australia doesn’t have an inheritance tax like other countries.
- Main residence exemption.
- Pre-CGT assets.
- Super benefits.
- Benefits of using a testamentary trust.
- Restructure business prior to death.
- Jointly held property doesn’t hit the estate.
- Entities won’t create tax consequences.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena discuss matters to consider if you plan to employ or go into partnership with family or friends, including
- Don’t mix business with pleasure.
- Statistics show that 70% of partnerships fail.
- Start with the end in mind.
- Keep arrangements business-like.
- Communicate fast and directly.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena discuss how to proactively manage your accountant to get the most value.
- Timely and clear lines of communication. Make sure they understand your business goals and financial priorities.
- Set clear expectations regarding the scope of work and when that work is to be completed.
- Depending on your requirements, consider conducting regular meetings and a reporting framework.
- Ask questions and review financial reports – it is your business and it’s important that you understand its performance.
- Create a financial budget and conduct tax planning at the beginning and end of the financial year.
- Understand getting more value requires only a little more work. Once you have a robust accounting system, getting value-add information is easy.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena share tips on how to read a set of financial statements.
- Familiarise yourself with the 2 to 3 main statements being a profit and loss, balance sheet, trading statements.
- Profit and loss will give you an insight into the cost structure and profitability of the business.
- The balance sheet tells you about the health of the business.
- Cash flow consideration – focus on operating cash flow.
- Calculate key financial ratios and compare periods and look for warning signs such as declining revenue, increasing debt levels, or inconsistent cash flow. Consider industry benchmarks.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena discuss how to manage your payroll to ensure you comply with employment laws.
- Key factors that you must consider
- Options: use a basic system or get a dedicated system
- Human Resource Information System (HRIS) such as Employment Hero includes recruitment, onboarding, management (staff reviews), timesheets/timecards, etc.
- Ongoing management by your bookkeeper – you just approve the payments.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena discuss what is involved in preparing and lodging BAS and common mistakes and pitfalls.
- What should your bookkeeper do
- What does your accountant do
- Common mistakes and pitfalls
- The importance of annual reconciliations
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena discuss how the PAYG instalment system works for all taxpayers including business owners.
- What is the PAYG instalment system.
- How does the ATO work out instalments?
- Are there any downsides to not paying instalments (catch up tax, imputation credits).
- How can you vary instalments?
- What to do if you have overpaid your tax.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Stuart and Mena discuss what to do with your trapped funds in your corporate beneficiary:
- Look at your structure of the corporate beneficiary – are your shares individually owned? Is your corporate beneficiary also your Trustee?
- Why is retaining funds in the corporate beneficiary an issue? No strategy can lead to not only compliance issues in Division 7A problems, but also an opportunity cost – i.e. can you use those funds to invest.
- Company can invest directly in shares and property. Talk about franking differences and CGT discounts
- Lending money to a related corporate entity to invest is not subject to Div 7A
- Dividends – when should you ideally pay dividends
- Employing family members and or super contributions
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Mena and Stuart discuss how and when to start delegating roles in your business so that its less dependent on you, including:
- Roles in a business; the technician, the manager and the entrepreneur
- Some businesses aren’t businesses, they are jobs – be realistic about that.
- Delegating options.
- Work out how much your time is worth. What is your hourly rate?
- Setting, communicating and upholding high standards is absolutely key. Few businesses can produce great results with average staff.
- Blame the system, not the person.
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Mena and Stuart discuss what you can and can’t invest in a Self-Managed Superannuation Fund.
- Standard investments include direct property, listed shares, ETFs, managed funds, etc.
- Consider the sole purpose test when contemplating an investment
- Update your fund's investment strategy
- Considerations/restrictions when investing in unlisted securities/investments
- Property development
If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!
Click here to subscribe to our weekly email.
SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.
Work with Mean & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.
Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn
IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.
In this episode, Mena and Stuart discuss how we typically advise our clients to use their business to build personal wealth, including:
- Making sure you have a distribution strategy
- Super: don’t ignore it.
- Accumulate wealth in an non-trading company
- If business premises (commercial property) is a good investment then owning can be a good idea.
- Have a regular savings plan
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
In this episode, Mena and Stuart discuss several financial ratios that you can use to monitor the health of your business, including:
There’s no point having a good accounting system if it doesn’t give you useful and actionable information to help you improve your business. Ratios allow you to quickly assess what areas need your attention.
- Profitability: gross margin, net (EBIT) margin (inc. salary for you), revenue per employee, earnings & revenue growth, return on assets
- Cash flow: Average creditor/debtor days (debtor days should be < creditor days), Cash Conversion Cycle, cash interest coverage ratio
- Assets: working capital ratio, stock turnover ratio, ROI
- Industry/business specific: whatever is your key success factor e.g., profitability ratios by service line and/or product category, etc.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
In this episode, Stuart and Mena discuss alternative methods of raising funds considering increased interest rates, including:
- Convertible notes
- Fixed price equity
- Equity and loan
- How to choose the right option for your business
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
In this episode, Mena and Stuart discuss whether staff will be deemed contractors or employees, including:
- What is Div. 293 tax and when does it apply
- Is it still worthwhile making additional contributions?
- Can you avoid Div. 293?
- Should you pay the tax from super or personal funds?
- What happens if you breach the concessional cap? Should you take the money as cash salary?
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
In this episode, Mena and Stuart discuss whether staff will be deemed contractors or employees, including:
- The 7 guidelines that the ATO sets out to determine whether the staff member is an employee or contractor
- Fair Work and state revenue offices approach to these matters
- What liabilities to include if you have employees
- Our suggested approach.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
In this episode, Mena and Stuart discuss 3 tax incentives that are available for businesses in the FY23 and FY24 years, including:
- The technology investment boost – which will need to be included in your FY23 tax return. See here.
- The skills and training boost which will need to be include in your FY23 and Fy24 tax return. See here.
- The energy incentive which will be included in your FY24 tax return. See here.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
In this episode, Mena and Stuart discuss what they think makes a great accountant, including:
- The difference between a satisfactory accountant and a great one can be huge. A great accountant will save you more than they will charge you by giving proactive advice. A cheap accountant is expensive because they miss opportunities which gives rise to more tax.
- They get to know you. The more they know about you and your business, the greater scope there is for them to add value. The old saying: Theodore Roosevelt — 'People don't care how much you know until they know how much you care' Asking about you and your business shows they care.
- They are technically sharp. They must keep on top of tax laws and rules. Monthly tax training is the highlight of our month.
- We can rush through work just to “get it down” but the real challenging is taking a step back and thinking about the work and client. If your accountant is always behind, chances are they don’t have the time to invest in proactive advice.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
In this episode, Mena and Stuart discuss the pros and cons of using a family trust to own your investments, including:
- What is a trust?
- The main pros and cons
- The downsides for holding direct property in a trust
- Why trusts suit share market investments
Here’s a link to the webinar that Stuart referred to in the podcast: https://www.prosolution.com.au/family-trusts-webinar/
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
In this episode, Mena and Stuart share their tips and strategies for managing a happy and productive team, including:
- You can’t run a great business with unsuitable people
- Keeping someone that is not thriving in their role is not doing them any favours. Be realistic.
- Ask yourself, would you enthusiastically rehire everyone on your team?
- Staff relationships are just like any other relationship – you must show you care e.g., listen to feedback, ask for idea, let them make improvements, give them regular feedback
- No one will ever work as hard as you – face this fact
- People come and stay because of the culture
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
In this episode, Mena and Stuart discuss some simple things you can do or steps you can take to dramatically improve your business, including:
- Spend 30 min on ‘the numbers’ per week
- Improve management reporting and insights e.g., margins, stock turnover, etc
- Review expenses one to two times per year
- Speak to people in the industry to share ideas – it’s often a who question not a what question
- Engage your holistic accountant to develop a reporting system that gives you all the information you need to make sure your business is as efficient as possible
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
In this episode, Mena and Stuart discuss how to deal with the challenges that high inflation is causing business, including:
- High inflation can have a big impact on profitability
- How some businesses are navigating higher staffing costs
- Managing rises costs/expenses
- How to maintain sustainable margins. Are you a price taker or marker?
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
In this episode, Mena and Stuart discuss the factors to consider when structuring the ownership of investment properties, including:
- Tax considering include income tax, CGT, and land tax
- You must consider future plans
- We discuss options such as personal names, company, trust and super fun
- Cash flow, asset protection and estate planning considerations
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
In this episode, Mena and Stuart discuss the factors to consider when buying into a pre-existing business, including:
- How to value the share of the business
- Consider whether your business partners are aligned
- Taxation and cash flow consideration
- Legalities e.g., agreements, buy-sell, etc.
- How to fund the acquisition
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
In this episode, Mena and Stuart discuss when a small business should start employing staff I.e., what to consider, including:
- Why delaying employing staff so that you can optimise your systems and process is often the best approach
- Employing staff puts you on the hook to do the hard (unstructured) work
- Cash flow considerations
- Whether to hire part-time, full-time, contractors and/or offshore staff
- Tax and accounting obligations e.g., super, Workcover, PAYG, etc.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
In this episode, Mena and Stuart discuss what a business coach does and whether they are worthwhile, including:
- The importance of accountability
- Better/different perspective & sounding board
- Business processes
- Do they have experience with helping business achieve better results
- Tax deductibility
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
In this episode, Mena and Stuart discuss the common tax planning matters that you should consider prior to 30 June, including:
- Completing trustee minutes and dividend declarations
- Super contributions – when, how much, etc.
- Importance of doing a stocktake
- Forecasting taxable income
- Using corporate beneficiaries
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
In this episode, Mena and Stuart discuss tax deductions investors can claim, including:
- What expenses are considered capital and how they are treated
- Are educational costs deductible?
- Subscriptions and financial advice
- Interest deductions
- Computer and internet
- The importance of recording keeping
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
In this episode, Mena and Stuart discuss what factors what a service entity is and when to use one including:
- How service entities are structured
- The benefits that service entities generate
- What types of businesses service entities suite
- Common service trust mistakes we see
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
Mena and Stuart discuss what factors you must consider when deciding whether to buy the property that you use to operate your business.
- The first question to ask yourself
- How to own the property
- Why commercial property is ‘risky’ at the moment
- Pros and cons of buying your business premises
If you would like us to cover a particular topic, please email us at 'advice at prosolution dot come dot au'.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
Mena and Stuart discuss how state governments are targeting business to raise more payroll tax revenue including:
- What types of businesses are they targeting
- What is the government argument
- What action can businesses take to avoid this liability
- What other liabilities may arise
If you would like us to cover a particular topic, please email us at 'advice at prosolution dot come dot au'.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
Mena and Stuart discuss the tax incentives resulting from self-employed people buying electric vehicles in their businesses name including:
- Which vehicle that the incentives apply to
- What benefits are available?
If you would like us to cover a particular topic, please email us at 'advice at prosolution dot come dot au'.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
Mena and Stuart discuss what PAYG employee can do to minimise tax including:
- The importance of focusing on maximising wealth after-tax – not just saving tax
- Negative gearing
- Margin lending
- Super contributions
If you would like us to cover a particular topic, please email us at 'advice at prosolution dot come dot au'.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
This week, Mena and Stuart discuss the tax consequences of renting out your holiday home including:
- How the ATO is targeting these arrangements
- Recording keeping and proof that the property is available for rent
- Importance of charging market level rent
- How to apportion tax-deductible expenses
If you would like us to cover a particular topic, please email us at 'advice at prosolution dot come dot au'.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
Stuart & Mena discuss the following considerations with respect to entertainment expenses:
- The What, When, Why and Where factors
- Where is the event happening
- Type of food and drink being provided
- Client gifts
If you would like us to cover a particular topic, please email us at 'advice at prosolution dot come dot au'.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
This week, Mena and Stuart discuss:
- Common strategy recommended by a lot of accountants, but it does it provide much tax savings?
- Stringent log book record keeping
- Exception for utility vehicles
- When to put a motor vehicle in your business name
- Borrowing capacity considerations and funding considerations
If you would like us to cover a particular topic, please email us at 'advice at prosolution dot come dot au'.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
This week, Mena and Stuart discuss how to tell whether your accountant is doing a good job or not. We discuss:
- The fact that fees tend to be either end of the spectrum I.e., too cheap or too expensive.
- Some signs to look out for are:
- Shares/units owned personally or operate as a sole trader
- No distribution strategy i.e., large retained profits in business.
- No discussion about exist strategy – if you are close to selling/retirement
- What to do if you think your accountant isn’t doing a great job.
If you would like us to cover a particular topic, please email us at 'advice at prosolution dot come dot au'.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
This week, Mena and Stuart discuss:
- What is blackhole expenditure
- Types of expenses included under blackhole expenses
- How to treat these types of expenses in your tax accounts.
If you would like us to cover a particular topic, please email us at 'advice at prosolution dot come dot au'.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
This week, Mena and Stuart discuss how to build a consulting/professional services businesses, including
- Rule of One Third
- Expense management strategies
- You can’t build a great business without a great team
- There's a 40% discretionary element – how to you motivate people to provide that effort.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
This week, Mena and Stuart discuss what costs are deductible when you buy an investment property including
- How to treat all capital costs
- Improvements made to the property prior to renting it to a tenant
- Maintainance and improvements made post renting it to a tenant
- Record keeping tips
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
This week Mena and Stuart discuss tips on how to manage your stock on hand to maximise your business’ profitability, including:
- Why stock takes are important
- Why to analysis your stock turn-over (by category and item)
- Measuring gross-profit by stock item – a small improvement can have a massive impact on profitability and cash flow
- How to funding stock purchases.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
This week Mena and Stuart what you must know about trust distributions. Main points include:
- Not presently entitled to income is taxed at 45%, so it’s best to make a distribution.
- Trustee minutes must be completed prior to 30 June, so tax planning should be an ongoing process.
- From here on in it is very likely that you must distribution the actual cash for any distributions other than to your spouse or children under 18.
- When distributing to a corporate beneficiary, be careful about Div. 7A loans and discuss what you can potentially do with the funds – there must be a strategy.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
This week Mena and Stuart discuss how investment and taxation advice intersect using a real client as a case study. Main points include:
- How we eliminated Div. 7A issues saving the client $30k p.a. in tax
- Making sure we had a distribution strategy to avoid compliance issues (and this strategy was congruent with the client’s investment strategy)
- Utilising losses and tax attributes in entities which still allowing us to invest money effectively
- Consider tax outcomes when determining ownership of future investments
- And much more…
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
This week Mena and Stuart discuss the common factors that business owners should consider when deciding whether to pay themselves a salary including:
- Payroll tax and work cover considerations
- Easier to manage tax liabilities
- Forced savings
- Div 7A problem loans
- Borrowing capacity
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
This week Mena and Stuart discuss some of the most popular apps that plug into Xero that help business owners optimise and streamline with business. We discuss:
- Xero projects
- HubDoc/Dext - paperless payables
- Payment services such as Stripe to improve your debtors/cash flow
- POS integrations.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
This week, Mena and I discuss rules in relation to the main residence CGT exemption. There aren’t many things that are tax free, so you should make the most of this exemption.
- Difference between residing in the property when first purchased or renting after you initial purchase the property
- Converting your property to a rental property – how can you still protect your main residence exemption?
- What proof do you need that a property is your main residence?
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
This week, Mena and I discuss how to choose a bookkeeper, including:
- When you should be doing your own bookkeeping?
- If your business as some complexity, look for experience in your industry
- Functions they should perform include bank reconciliations, payroll, BAS (if a BAS agent).
- Knowledge of your accounting software (shouldn’t be using anything that isn’t cloud based).
- Ask your accountant for a referral to a good bookkeeper or Xero has a register of certified bookkeepers.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
This week, Mena and I discuss whether becoming self-employed helps you reduce the amount of income tax you pay. We discuss:
- The Personal Services Income (PSI) rules and how they apply.
- Flexibility to distribute business income to multiple people.
- Minimising any eventual capital gain if/when you sell the property.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
This week, Mena and I discuss how franking credits (aka imputation credits) work and how integral they are when it comes to tax planning including:
· Their aim is to avoids double taxation.
· Provides you with a tax offset so it’s important to keep track of your Company’s franking account.
· Sometimes paying tax sooner, so you can pay a franked dividend can reduce your overall tax.
· Distribution/dividend strategy - streaming franking credits to beneficiaries or shareholders with low taxable income and to receive a tax refund.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
Mena and I discuss how to:
· Maximise your interest tax deductions and ensure your loans are structured in a way that ensures the ATO cannot successfully challenge this deduction.
· Maximising general deductions.
· Is it important to deal with an investment property specialist?
To learn more, refer to this blog.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
This week Stuart & Mena discuss how to buy a business including:
- How to find a good business to buy
- Negotiating a fair price
- How to finance the acquisition
- Completing due diligence (also refer to episode 6 in season 2)
- Legal documentation and settlement.
To find out more about our holistic accounting firm, ProSolution Private Clients, click here: https://www.prosolution.com.au/
Connect with Mena on LinkedIn: https://www.linkedin.com/in/mena-abraham-99635579/
This week Stuart & Mena discuss due diligence. Due diligence includes the process to assess the assets, cash flows and risks associated with a business which is usually undertaken before you buy a business
- What information you accountant will review.
- Due diligence can consider financial matters, legal matters, and any industry specific matters.
- Who does it and how do you find the right advisor that can help you.
This week Stuart & Mena discuss what super balance you need to have to justify setting up a SMSF. This discussing includes:
- Be clear on reasons why and consider if there are more cost-effective alternatives. If it’s because you want more control, often there are simpler and more cost effective alternatives.
- If it’s to invest in direct property, then there’s no min balance per se, it will probably be guided by how much you can borrow (inside super).
- Other reasons could include intergenerational wealth (e.g., pooling family’s super monies), estate planning, investing in unlisted investments, etc.
This week Stuart & Mena discuss what is a dump company – also referred to as a corporate beneficiary or non-trading investment company. This discussing includes:
- What is a corporate beneficiary and how is it used?
- Advantages of a corporate beneficiary?
- Disadvantages of corporate beneficiary?
Yet again, this topic demonstrates that any tax management strategies must align with your investment strategy as saving tax alone will not help you become financially independent.
This week Stuart & Mena discuss the key factors that people must consider when contemplating investing their super in direct residential or commercial property. Including:
- Why you need a SMSF to do that
- Borrowing capacity is based on the requirement of 30% deposit plus costs and history of super contributions
- You must consider the Fund’s liquidity i.e., ability to fund a pension without selling the property
- Generally, we prefer to invest in property outside super because you have more flexibility with what you do with the property, higher gearing, better negative gearing benefits and so on.
Mena and Stuart discuss how a business is valued:
- The value of a business is equal to the present value of its future cash flows. Therefore, we must ask (1) what cash profit will it generate and (2) what are the risks associated with this income stream i.e., how likely is it that the business will generate these expected profits?
- They discuss some 'rules of thumbs': multiple of sales or reoccurring income, users (IT business), EBIT, etc.
- And they need to look for evidence – sales of comparable businesses.
Mena and Stuart discuss how a business is valued:
- The value of a business is equal to the present value of its future cash flows. Therefore, we must ask (1) what cash profit will it generate and (2) what are the risks associated with this income stream i.e., how likely is it that the business will generate these expected profits?
- They discuss some 'rules of thumbs': multiple of sales or reoccurring income, users (IT business), EBIT, etc.
- And they need to look for evidence – sales of comparable businesses.
Mena Abraham and Stuart Wemyss discuss the top 3 reasons that we think accountants recommend setting up a Self Managed Super Fund (SMSF) and whether they have merit.
There are many reasons to improve the saleability of your business, including if it’s your plan to sell your business in the future, of course. Other reasons can include succession planning, to raise capital, reduce your working hours and so on. In this episode, Mena and Stuart discuss:* The five steps involved in maximising the saleability of your business and what’s involved in each of these. * How to use the small business capital gains tax (CGT) concessions to potentially reduce any CGT liability to nil. * Various strategies to maximise your sale price and minimise your risk including earn-outs, restraint of trade, vendor warranties and structuring considerations.
Knowing how to scale your business is the fastest and most successful way to multiple your business’ profitability. That is why it’s important to consider if your business lends itself to scaling and if so, how to do it. In this episode, Mena and Stuart discuss:§ Three examples of how business’ achieve saleability including building a well-known brand, productisation and build-in the desire/incentive to ‘share’ in your product.§ Some businesses don’t lend themselves to sharing, and of course that’s fine, but those business’ should consider the ‘smallest viable audience’ concept popularised by Seth Godin.§ How your holistic accountant can help you to scale your business including understanding your numbers, different business models, structures and asset protection considerations.
Many business owners prepare a business plan when they first start their business. But this document is never looked at again. We encourage our clients to invest one day every two to three years to draft a practical and actionable business plan. In this episode, Mena and Stuart discuss:* Why it's the best investment of your time. A business plan provides multiple benefits including sharpening your focus, motivating employees, obtaining finance and/or investors and so on. * A deep dive on the 6 key topics/matters that you must include in your business plan. * Mena and Stuart share four proven business planning insights, to help you craft a successful business strategy.
If your net profit margin is 20% and you increase your price by 10%, you will increase your profit by 50%! That is why pricing is probably the most important decision that a business owner makes. However, most business owners spend very little time setting prices. Mena and Stuart discuss:§ Why pricing decisions are so important.§ Common methods used to set prices.§ Three proven strategies to improve pricing power (and therefore profit).§ How to optimise pricing depending on your business model… and much more.
Cash flow is the lifeblood of any business. A business that generates an increasing amount of free cash flow as it grows can self-fund its future growth. It can grow infinitely. However, a business that doesn’t generate free cash flow will eventually die (without constant equity injections). This is the topic of episode four: how do you turn your business into a cash flow machine. Mena and Stuart discuss:* The four elements that impact a business’ cash conversion cycle and we share tips on how to improve each of them. * Strategies to receive revenue before you have to pay for your expenses. * How to provision for tax liabilities so that you never receive an unexpected tax bill. * How much cash your business should hold (for a rainy day).
Imagine your accountant came up with an idea that would save you $30,000 in tax each year for the next 20 years. That one idea would be worth over $460,000 to you (in today’s dollars). That’s what you want your accountant working on. However, historically, accountants spend most of their time helping their clients meet all ATO compliance obligations such as preparing Business Activity Statements and tax returns.A holistic accountant should be finding ways to use technology to automate and systemise as much of this work as possible. If they are successful with doing this, it should mean that they have more time to help you improve the profitability and cash flow your business generates. In this episode, Stuart and Mena discuss the things your accountant should be working on, including:* How should accountants use technology to streamline your business? * Why accountants need to cover the roles of not only an accountant and tax advisor, but also a financial planner and business coach – all rolled into one person. * Your holistic accountant should be working on strategies to improve profitability, improve cash flow, minimise tax, business growth strategies and help you invest your profit to improve your personal wealth. *
There are many non-financial reasons that encourage people to start their own business. But it’s important that you are fairly rewarded (financially) for your time, effort and risk. It might be your goal to build your businesses value and sell it one day. But as a plan B, you must direct a proportion of your annual profit towards building a personal nest egg. Stuart and Mena show you how to do this including:- The three common tax-effective ownership structures to use to build wealth- How to improve your business’s cash flow- How your accountant can help maximise your borrowing capacity so that you can borrow to invest- Why ignoring super is foolish (and why you don’t need a SMSF)- Investing in commercial property can be very rewarding, particularly if you operate your business from it.
Your business structure is critical because it will dictate how much tax you pay, whether you will be able to build personal wealth effectively, if your assets are protected and your overall financial success. We see lots of costly mistakes. We discuss how to avoid these mistakes and structure your business to achieve personal success.