The Holistic Accountant

Send us Fan Mail Outsourcing your finance function might sound risky, but as Stuart and Mena explain, it can be a strategic game-changer for businesses at the right stage. This episode outlines scenarios where outsourcing makes sense—like scaling, cost efficiency, accessing advanced tools, or meeting compliance demands. The duo explores how outsourcing can free up resources, enabling you to focus...

Send us Fan Mail In this episode, Stuart and Mena delve into the ins and outs of Employee Share Schemes (ESS) for small and medium businesses. They discuss how ESS can attract and retain top talent, particularly when capital is limited. By offering employees an ownership stake, businesses can foster loyalty, align employee interests with company goals, and create a motivated, long-term workforce....

Send us Fan Mail Stuart and Mena break down payroll tax, a significant revenue source for state governments, explaining how it’s calculated and why it’s often a point of concern for growing businesses. They review current payroll tax thresholds and rates across states, detailing what counts toward the threshold, from salaries and bonuses to fringe benefits and termination payments. Importantly, th...

Send us Fan Mail In this episode, Stuart and Mena compare MYOB and Xero, two leading accounting software options in Australia. While both offer core features like payroll, bookkeeping, and inventory management, they have unique strengths suited to different business needs. Xero, designed as a fully cloud-based solution, stands out for its intuitive dashboard, extensive integrations, and customisab...

Send us Fan Mail Stuart and Mena explore the intricacies of the instant asset write-off, a tax incentive allowing small businesses to claim immediate deductions for assets under $20,000. This episode covers why the policy was introduced and how it benefits small business owners by simplifying deductions for essential business purchases. They explain the various thresholds and eligibility requireme...

Send us Fan Mail In this episode, Stuart and Mena delve into a real client case, showcasing how strategic financial planning can yield impressive savings and long-term financial security. This client, who started trading a new business in late 2022, has already seen great results, thanks to comprehensive support from due diligence and structuring to setting up efficient accounting systems.  Beyond...

Send us Fan Mail In this episode, Stuart and Mena delve into how AI and automation are rapidly reshaping the business world, highlighting the future of work. They discuss the shifting landscape, where traditional roles are disrupted as automation handles repetitive tasks, pushing creativity, critical thinking, and emotional intelligence to the forefront. This shift doesn’t signal a loss of jobs, b...

Send us Fan Mail In this insightful episode, Mena and Stuart tackle the crucial signs of business failure that every owner should watch for. They reveal how stagnation can be just as detrimental as negative profit margins. Key indicators include a loss of employee morale , where high turnover and low engagement signal deeper cultural issues. Customer dissatisfaction, evident through increased comp...

Send us Fan Mail In this episode, Stuart and Mena discuss the importance of fanatic discipline in achieving long-term business success. Drawing a parallel with health and fitness, Stuart explains that, just like staying in shape requires consistent effort over time, business success is driven by small, simple tasks executed with unwavering discipline over months and years. They explore the concept...

Send us Fan Mail In this episode, Stuart and Mena explore the powerful Flywheel concept, originally developed by Jim Collins, and how it can drive sustainable growth in business. They explain that great companies don’t rely on one key strategy but instead build momentum through a series of interconnected, reinforcing activities that create a cycle of success. The episode delves into the components...

Send us Fan Mail In this episode, Stuart Wemyss and Mena explore strategies to enhance business productivity amidst Australia’s declining productivity rates. They begin by discussing the factors contributing to this decline, including a lack of competition, excessive bureaucracy, and a tight labour market. Both Stuart and Mena emphasise that businesses shouldn't wait for market forces to push...

Send us Fan Mail In this episode, Stuart and Mena introduce Jim Collins' book 'Great by Choice' , focusing on how companies thrive in uncertain and chaotic environments. They explore the concept of "firing bullets, then cannonballs," where businesses test ideas with small, low-risk experiments before scaling successful ones. Using Apple as an example, they discuss how the...

Send us Fan Mail In this episode, Mena and Stuart dive into the various ways rising interest rates can impact businesses. They explain how higher interest rates directly affect business valuation by reducing multiples, as higher required returns lower company values. The discussion also covers the increasing costs of holding inventory and tighter payment terms from creditors due to higher interest...

Send us Fan Mail In this podcast, Mena and Stuart emphasise the importance of staying focused on your own business strategy and pace. They caution against common mistakes like investing in unsuitable assets, withdrawing funds without considering tax implications, and being lured by quick-fix strategies due to FOMO.  They stress the need to define personal success without comparing oneself to other...

Send us Fan Mail In this episode, Stuart and Mena explore why self-employed individuals often gravitate toward property investment and the key considerations they should keep in mind. They discuss the appeal of property as an easily understood and tangible asset, particularly for those with strong incomes but limited cash reserves. Property investment can offer control, tax advantages through gear...

Send us Fan Mail 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 Resilien...

Send us Fan Mail 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 determini...

Send us Fan Mail 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 necessi...

Send us Fan Mail 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 bu...

Send us Fan Mail 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 prac...

Send us Fan Mail 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 propert...

Send us Fan Mail 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...

Send us Fan Mail 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 performa...

Send us Fan Mail 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 defin...

Send us Fan Mail 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...