Hiring, Firing, and Getting the Right People on the Bus

In this Australian Finance Podcast episode, your host Owen Rask sits down with Phil Thompson, the founder of Skye Wealth. Phil reveals how he bought into a financial advice business at 24, navigated six years of no growth, and then pivoted the business to insurance-only — ultimately building a team of over 55 and generating over $4.3 million in annual revenue. If you like this episode, don’t forget to subscribe for weekly shows on Apple, Spotify, YouTube, or wherever you get your podcasts! Follow us on Instagram and TikTok for more insights. Topics Covered – Buying a business with no money – Vendor finance: what is it & how it worked for Phil – What it’s like to flatline for 6 years in business – Why he almost left the industry in 2018 – Pivoting to insurance-only advice – Leveraging partnerships with Glenn James & others – The supply & demand gap in personal insurance advice – Why specialization scaled Skye Wealth – How tech, automation & dashboards drive their service – How Phil maintains culture with over 55 staff – How they manage Filipino & Australian team members equally – The surprising truth behind Time Doctor & productivity tracking – Setting a 2027 target: becoming #1 in Australia – Servant leadership & inverted org charts – Pay transparency and performance reviews – Hiring, firing & leading with trust – Building culture through retreats, feedback & honesty Resources for this episode 📄 Learn more about Skye Wealth

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