The Holistic Accountant

Send us a textThis 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: LinkedInIMPORTANT: 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 a textBuying 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: LinkedInIMPORTANT: 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 a textGetting 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: LinkedInIMPORTANT: 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 a textAn 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.

Send us a textA 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: LinkedInIMPORTANT: 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 a textWant 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: LinkedInIMPORTANT: 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 a textSudden 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! 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: LinkedInIMPORTANT: 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 a textEffective 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! 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: LinkedInIMPORTANT: 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 a textAs 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! 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: LinkedInIMPORTANT: 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 a textAudit 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 transactionsStuart 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! 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: LinkedInIMPORTANT: 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 a textWant 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: LinkedInIMPORTANT: 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 a textTraditional 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: LinkedInIMPORTANT: 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 a textWhat 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: LinkedInIMPORTANT: 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 a textManaging 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! 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: LinkedInIMPORTANT: 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 a textThinking 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! 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: LinkedInIMPORTANT: 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 a textIn this episode, Stuart and Mena explore the limitations of popular payroll solutions like Xero, QuickBooks, and MYOB, and why they might not be the right fit for every business. While these platforms work well for small to medium-sized enterprises, they come with restrictions that can create payroll compliance risks and inefficiencies—especially for larger organizations with more complex needs.The discussion highlights key drawbacks, including limited scalability, missing advanced features, restricted pay templates, and weak integration with HR systems. Business owners relying on these off-the-shelf payroll solutions may find themselves manually handling tax and superannuation complexities, which can lead to costly errors.Stuart and Mena also introduce an alternative comprehensive payroll platform like Employment Hero, which offers award interpretation, advanced rostering, time and attendance tracking, and cost centre management. If you're looking for a payroll solution that grows with your business and minimises compliance risks, this episode is a must-listen. Tune in to learn how choosing the right payroll system can improve efficiency, ensure compliance, and support your business as it scales.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: LinkedInIMPORTANT: 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 a textIn 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: LinkedInIMPORTANT: 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 a textIn 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! 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: LinkedInIMPORTANT: 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 a textOutsourcing 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: LinkedInIMPORTANT: 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 a textIn 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! 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: LinkedInIMPORTANT: 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 a textStuart 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! 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: LinkedInIMPORTANT: 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 a textIn 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! 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: LinkedInIMPORTANT: 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 a textStuart 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! 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: LinkedInIMPORTANT: 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 a textIn 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! 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: LinkedInIMPORTANT: 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 a textIn 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! 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: LinkedInIMPORTANT: 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 a textIn 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! 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: LinkedInIMPORTANT: 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 a textIn 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.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: LinkedInIMPORTANT: 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 a textIn 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! 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: LinkedInIMPORTANT: 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 a textIn 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: 1. Employee Productivity: Assess skills, set clear performance metrics, and foster open communication for feedback.2. Process Optimisation: Analyse workflows, automate tasks, and leverage technology to streamline operations.3. Resource Management: Optimise inventory and upgrade equipment to eliminate bottlenecks.4. Customer Relationship Management: Gather customer feedback, improve communication systems, and focus on the right customer selection to reduce inefficiencies.5. 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! 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: LinkedInIMPORTANT: 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 a textIn 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! 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: LinkedInIMPORTANT: 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 a textIn 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! 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: LinkedInIMPORTANT: 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 a textIn 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! 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: LinkedInIMPORTANT: 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 a textIn 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.Related podcasts 1/3/23 - What costs are deductible when you buy an investment property 9/11/22 - How do I maximise negative gearing tax benefits from investing in property? 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! 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: LinkedInIMPORTANT: 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 a Text Message.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:1. Assessing Business Sensitivity.2. Scenario Planning.3. Strengthening Financial Resilience.4. Cost Management.5. Strategic Divestment.6. Personal Financial Impact.7. 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! 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: LinkedInIMPORTANT: 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 a Text Message.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! 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: LinkedInIMPORTANT: 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 a Text Message.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! 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: LinkedInIMPORTANT: 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 a Text Message.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! 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: LinkedInIMPORTANT: 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 a Text Message.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! 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: LinkedInIMPORTANT: 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 a Text Message.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! 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: LinkedInIMPORTANT: 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 a Text Message.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! 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: LinkedInIMPORTANT: 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 a Text Message.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! 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: LinkedInIMPORTANT: 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 a Text Message.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! 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: LinkedInIMPORTANT: 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! 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: LinkedInIMPORTANT: 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! 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: LinkedInIMPORTANT: 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! 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: LinkedInIMPORTANT: 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: LinkedInIMPORTANT: 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: LinkedInIMPORTANT: 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: LinkedInIMPORTANT: 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: LinkedInIMPORTANT: 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: LinkedInIMPORTANT: 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: LinkedInIMPORTANT: 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.