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Australian Business Podcast

Latest episodes

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Jul 23, 2023 • 38min

A $50k loan to buy a cafe, in business with friends, when to pay yourself more & tax on offshoring explained [Q&A]

Question and answer sessions are BACK! In this episode of The Australian Business Podcast, your co-hosts Owen Rask, Jordan Kidis and Danil Goloubev discuss the best practice for having a business with a friend, how and when to pay yourself, tax on offshoring jobs and how the Government's recent tax boost works.WATCH the video version: https://www.youtube.com/watch?v=aZEByZnyQdcGET IN TOUCH (below)Rask Events Roadshow: https://www.rask.com.au/roadAsk a question: https://bit.ly/3QtiY00Grey Space website: http://bit.ly/3DG5lWSFree business course: https://bit.ly/rask-biz-courseOwen Rask's business coaching: https://bit.ly/coach-owenThis Australian Business Podcast Episode is for founders, business owners and investors in private companies. Join 2,300+ students in our free business course!If you liked this episode, don’t forget to consider taking our free business course and tuning into the Australian Business Podcast episode one, in which I shared my journey.Love the Australian Business Podcast? Let me know about it by leaving a review on Apple or Spotify. If you want to help me out with the course, right now the best thing you can do is subscribe and review this podcast in Apple or Spotify. Please use the “Ask a question” menu link on the Rask websites, or leave your questions in the Apple Reviews.✅ Grey Space Advisory – accounting today for a smarter tomorrowDo you get stuck worrying about your business’ finances? Or what needs to be paid to ATO, employees, Super funds and so on? The Australian Business Podcast is proud to announce that our sponsor, Grey Space Advisory, is offering all business owners a financial health check.Jordan and Danil’s expert team of accountants will conduct a review of your tax structure, bank set-up, ATO obligations and reporting, business insurance and provide some advice on how to manage all of this — for just $99! Book a $99 business health check with the Grey Space Advisory team and tell them Owen sent you.☕️ Rumble Coffee Roasters — our OG sponsor & coffee genius!Rumble Coffee Roasters is dedicated to helping you drink better coffee. Knock-out blends, world-class single origins, bold espressos and flavour-filled filter roasts. Rumble Coffee prides itself on personal relationships with producers and customers alike. Tell them Rask sent you. ***The information on this website and in our podcasts is general financial and tax information only. That means, the advice does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser or tax agent. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Jul 20, 2023 • 37min

7 ways to boost your business profits and grow fast this financial year

If you're an Australian small business owner who, like us, is constantly stuck in day-to-day and then get bogged down by unnecessary things, this episode will help you come up for air and grow. ~~ Resources ~~Rask Events Roadshow: https://www.rask.com.au/roadAsk a question: https://bit.ly/3QtiY00Grey Space website: http://bit.ly/3DG5lWSFree business course: https://bit.ly/rask-biz-courseOwen Rask's business coaching (beta): https://bit.ly/coach-owenThis Australian Business Podcast Episode is for founders, business owners and investors in private companies. Join 2,300+ students in our free business course!If you liked this episode, don’t forget to consider taking our free business course and tuning into the Australian Business Podcast episode one, in which I shared my journey.Love the Australian Business Podcast? Let me know about it by leaving a review on Apple or Spotify. If you want to help me out with the course, right now the best thing you can do is subscribe and review this podcast in Apple or Spotify. Please use the “Ask a question” menu link on the Rask websites, or leave your questions in the Apple Reviews.✅ Grey Space Advisory – accounting today for a smarter tomorrowDo you get stuck worrying about your business’ finances? Or what needs to be paid to ATO, employees, Super funds and so on? The Australian Business Podcast is proud to announce that our sponsor, Grey Space Advisory, is offering all business owners a financial health check.Jordan and Danil’s expert team of accountants will conduct a review of your tax structure, bank set-up, ATO obligations and reporting, business insurance and provide some advice on how to manage all of this — for just $99! Book a $99 business health check with the Grey Space Advisory team and tell them Owen sent you.☕️ Rumble Coffee Roasters — our OG sponsor & coffee genius!Rumble Coffee Roasters is dedicated to helping you drink better coffee. Knock-out blends, world-class single origins, bold espressos and flavour-filled filter roasts. Rumble Coffee prides itself on personal relationships with producers and customers alike. Tell them Rask sent you. ***The information on this website and in our podcasts is general financial and tax information only. That means, the advice does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser or tax agent. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Jul 16, 2023 • 29min

Why I started business coaching

Hang on a minute... Owen Rask is being interviewed by co-hosts Jordan and Danil?!That's right ladies and gentlemen, this is an extra special episode of The Australian Business Podcast because in this episode Owen is "grilled" by his two co-hosts on why he decided to launch a business coaching and consulting business.In this episode, Owen, Jordan and Danil discuss: The importance of having a business coach or adviser Why Owen uses a coach and why he advocates for it How to approach business coaches and get advice The types of coaches How you might pay a business coach How much is too much to pay a business coach? ~~ Resources ~~Rask Events Roadshow: https://www.rask.com.au/roadAsk a question: https://bit.ly/3QtiY00Grey Space website: http://bit.ly/3DG5lWSFree business course: https://bit.ly/rask-biz-courseOwen Rask's business coaching (beta): https://bit.ly/coach-owenThis Australian Business Podcast Episode is for founders, business owners and investors in private companies. Join 2,300+ students in our free business course!If you liked this episode, don’t forget to consider taking our free business course and tuning into the Australian Business Podcast episode one, in which I shared my journey.Love the Australian Business Podcast? Let me know about it by leaving a review on Apple or Spotify. If you want to help me out with the course, right now the best thing you can do is subscribe and review this podcast in Apple or Spotify. Please use the “Ask a question” menu link on the Rask websites, or leave your questions in the Apple Reviews.✅ Grey Space Advisory – accounting today for a smarter tomorrowDo you get stuck worrying about your business’ finances? Or what needs to be paid to ATO, employees, Super funds and so on? The Australian Business Podcast is proud to announce that our sponsor, Grey Space Advisory, is offering all business owners a financial health check.Jordan and Danil’s expert team of accountants will conduct a review of your tax structure, bank set-up, ATO obligations and reporting, business insurance and provide some advice on how to manage all of this — for just $99! Book a $99 business health check with the Grey Space Advisory team and tell them Owen sent you.☕️ Rumble Coffee Roasters — our OG sponsor & coffee genius!Rumble Coffee Roasters is dedicated to helping you drink better coffee. Knock-out blends, world-class single origins, bold espressos and flavour-filled filter roasts. Rumble Coffee prides itself on personal relationships with producers and customers alike. Tell them Rask sent you. ***The information on this website and in our podcasts is general financial and tax information only. That means, the advice does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser or tax agent. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Jul 9, 2023 • 25min

Xero: Our top 5 reasons to ❤️ Xero

Is Xero still the best for accounting? Is Xero better than Quickbooks and MYOB?WATCH THE VIDEO VERSION: https://youtu.be/EfVMLoCNqRMIn our 5 best Xero hacks, tricks, and Xero marketplace integrations episode of The Australian Business Podcast, Danil and Jordan (qualified accountants) and Owen Rask (analyst and business coach) talk about the pros and cons of Xero, our favourite Xero integrations and what you should know about the Xero marketplace.Jordan, Danil & Owen's 5 top Xero hacks: Payroll hub and Super clearing house Software integration Quoting, Invoicing and reminders Bill/Payables tracking DEXT or Hubdoc integration Online and easy/ same file as your advisor If you're a small business owner who, like us, is constantly stuck in day-to-day and then get bogged down by financials and things like invoicing, you will LOVE this episode.This episode is packed full of fantastic insights for tradies, e-commerce and consulting businesses.~~ Resources ~~Rask Events Roadshow: https://www.rask.com.au/roadAsk a question: https://bit.ly/3QtiY00Grey Space website: http://bit.ly/3DG5lWSFree business course: https://bit.ly/rask-biz-courseOwen Rask's business coaching (beta): https://bit.ly/coach-owenThis Australian Business Podcast Episode is for founders, business owners and investors in private companies. Join 2,300+ students in our free business course!If you liked this episode, don’t forget to consider taking our free business course and tuning into the Australian Business Podcast episode one, in which I shared my journey.Love the Australian Business Podcast? Let me know about it by leaving a review on Apple or Spotify. If you want to help me out with the course, right now the best thing you can do is subscribe and review this podcast in Apple or Spotify. Please use the “Ask a question” menu link on the Rask websites, or leave your questions in the Apple Reviews.✅ Grey Space Advisory – accounting today for a smarter tomorrowDo you get stuck worrying about your business’ finances? Or what needs to be paid to ATO, employees, Super funds and so on? The Australian Business Podcast is proud to announce that our sponsor, Grey Space Advisory, is offering all business owners a financial health check.Jordan and Danil’s expert team of accountants will conduct a review of your tax structure, bank set-up, ATO obligations and reporting, business insurance and provide some advice on how to manage all of this — for just $99! Book a $99 business health check with the Grey Space Advisory team and tell them Owen sent you.☕️ Rumble Coffee Roasters — our OG sponsor & coffee genius!Rumble Coffee Roasters is dedicated to helping you drink better coffee. Knock-out blends, world-class single origins, bold espressos and flavour-filled filter roasts. Rumble Coffee prides itself on personal relationships with producers and customers alike. Tell them Rask sent you. ***The information on this website and in our podcasts is general financial and tax information only. That means, the advice does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser or tax agent. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Jul 5, 2023 • 27min

Why franchises & "businesses in a box" can be very risky

On The Australian Business Podcast this week (don't forget, we go live twice a week), I -- Owen Rask -- catch up with my co-hosts Danil Goloubev and Jordan Kidis to talk about franchises AKA "businesses in a box".This Australian Business Podcast episode was prompted by a question from a loyal Rask podcast listener, who asked:I am a Physio planning to start my own Clinic (small business). I am torn between joining a Pre existing Physio franchise group (with processes and structures already in place) or starting my own clinic and trying to climb that mountain myself! What factors would you consider when making a decision on this conundrum? Any advice from the Finnies is appreciated!If you agree or disagree, have experience with franchises or if this episode helped you, get in touch with us using the "ask a question" link below.~~ Resources ~~Rask Events Roadshow: https://www.rask.com.au/roadAsk a question: https://bit.ly/3QtiY00Grey Space website: http://bit.ly/3DG5lWSFree business course: https://bit.ly/rask-biz-courseOwen Rask's business coaching (beta): https://bit.ly/coach-owenThis Australian Business Podcast Episode is for founders, business owners and investors in private companies. Join 2,300+ students in our free business course!If you liked this episode, don’t forget to consider taking our free business course and tuning into the Australian Business Podcast episode one, in which I shared my journey.Love the Australian Business Podcast? Let me know about it by leaving a review on Apple or Spotify. If you want to help me out with the course, right now the best thing you can do is subscribe and review this podcast in Apple or Spotify. Please use the “Ask a question” menu link on the Rask websites, or leave your questions in the Apple Reviews.✅ Grey Space Advisory – accounting today for a smarter tomorrowDo you get stuck worrying about your business’ finances? Or what needs to be paid to ATO, employees, Super funds and so on? The Australian Business Podcast is proud to announce that our sponsor, Grey Space Advisory, is offering all business owners a financial health check.Jordan and Danil’s expert team of accountants will conduct a review of your tax structure, bank set-up, ATO obligations and reporting, business insurance and provide some advice on how to manage all of this — for just $99! Book a $99 business health check with the Grey Space Advisory team and tell them Owen sent you.☕️ Rumble Coffee Roasters — our OG sponsor & coffee genius!Rumble Coffee Roasters is dedicated to helping you drink better coffee. Knock-out blends, world-class single origins, bold espressos and flavour-filled filter roasts. Rumble Coffee prides itself on personal relationships with producers and customers alike. Tell them Rask sent you. ***The information on this website and in our podcasts is general financial and tax information only. That means, the advice does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser or tax agent. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Jul 2, 2023 • 25min

Is offshoring REALLY worth it? Degree-qualified & full time for... $1,200 a month? Owen, Jordan & Danil explain

On The Australian Business Podcast this week (don't forget, we go live twice a week), I -- Owen Rask -- catch up with my co-hosts Danil Goloubev and Jordan Kidis about: How to outsource What you can outsource What to watch out for when you outsource Risks of outsourcing Jobs that should be outsourced ~~ Resources ~~Rask Events Roadshow: https://www.rask.com.au/roadATO page on electric vehicles: https://www.ato.gov.au/Business/Fringe-benefits-tax/Types-of-fringe-benefits/fbt-on-cars,-other-vehicles,-parking-and-tolls/electric-cars-exemption/Ask a question: https://bit.ly/3QtiY00Grey Space website: http://bit.ly/3DG5lWSFree business course: https://bit.ly/rask-biz-courseOwen Rask's business coaching (beta): https://bit.ly/coach-owenThis Australian Business Podcast Episode is for founders, business owners and investors in private companies. Join 2,300+ students in our free business course!If you liked this episode, don’t forget to consider taking our free business course and tuning into the Australian Business Podcast episode one, in which I shared my journey.Love the Australian Business Podcast? Let me know about it by leaving a review on Apple or Spotify. If you want to help me out with the course, right now the best thing you can do is subscribe and review this podcast in Apple or Spotify. Please use the “Ask a question” menu link on the Rask websites, or leave your questions in the Apple Reviews.✅ Grey Space Advisory – accounting today for a smarter tomorrowDo you get stuck worrying about your business’ finances? Or what needs to be paid to ATO, employees, Super funds and so on? The Australian Business Podcast is proud to announce that our sponsor, Grey Space Advisory, is offering all business owners a financial health check.Jordan and Danil’s expert team of accountants will conduct a review of your tax structure, bank set-up, ATO obligations and reporting, business insurance and provide some advice on how to manage all of this — for just $99! Book a $99 business health check with the Grey Space Advisory team and tell them Owen sent you.☕️ Rumble Coffee Roasters — our OG sponsor & coffee genius!Rumble Coffee Roasters is dedicated to helping you drink better coffee. Knock-out blends, world-class single origins, bold espressos and flavour-filled filter roasts. Rumble Coffee prides itself on personal relationships with producers and customers alike. Tell them Rask sent you. ***The information on this website and in our podcasts is general financial and tax information only. That means, the advice does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser or tax agent. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Jun 27, 2023 • 38min

A new Xero? The rise of Hnry: a one-stop shop for sole traders? Ft. Managing Director Karan Anand

Hnry is a super-fast-growing Kiwi financial technology company that claims to do everything finance and tax related for sole traders... for a 1% fee.Take note: it's Henry -- but without the 'e'.WATCH THE VIDEO: https://www.raskmedia.com.au/2023/06/27/xero-risk-hnry-accounting-karan-anandIn this FILMED episode of The Australian Business Podcast, Karan Anand, Australia CEO of Hnry and Chief Strategy Officer, joins Owen Rask for a deep dive into the platform, his impressive background the problems with big finance.In this episode, Owen and Karan discuss: Does Hnry manage your finances and do your tax return for just 1%? Why most small businesses fail Karan's background before Hnry The story behind Hnry and how it rose rapidly despite Xero, Quickbooks and others Does Hnry work for tax questions? Does Hnry work for companies? Why would someone chose Hnry over Xero, Thriday or MYOB? Save $25 on Hnry with coupon code "Rask": https://bit.ly/hnryWatch a demo: https://youtu.be/mjEIQJwy4ScKaran's award: https://www.linkedin.com/posts/karanviranand_great-to-be-in-melbourne-last-night-at-the-activity-7066886071652913152-Sjyj~~ Series resources ~~Rask Events Roadshow: https://www.rask.com.au/roadAsk a question: https://bit.ly/3QtiY00Grey Space website: http://bit.ly/3DG5lWSFree business course: https://bit.ly/rask-biz-courseOwen Rask's business coaching (beta): https://bit.ly/coach-owenThis Australian Business Podcast Episode is for founders, business owners and investors in private companies. Join 2,300+ students in our free business course!If you liked this episode, don’t forget to consider taking our free business course and tuning into the Australian Business Podcast episode one, in which I shared my journey.Love the Australian Business Podcast? Let me know about it by leaving a review on Apple or Spotify. If you want to help me out with the course, right now the best thing you can do is subscribe and review this podcast in Apple or Spotify. Please use the “Ask a question” menu link on the Rask websites, or leave your questions in the Apple Reviews.✅ Grey Space Advisory – accounting today for a smarter tomorrowDo you get stuck worrying about your business’ finances? Or what needs to be paid to ATO, employees, Super funds and so on? The Australian Business Podcast is proud to announce that our sponsor, Grey Space Advisory, is offering all business owners a financial health check.Jordan and Danil’s expert team of accountants will conduct a review of your tax structure, bank set-up, ATO obligations and reporting, business insurance and provide some advice on how to manage all of this — for just $99! Book a $99 business health check with the Grey Space Advisory team and tell them Owen sent you.☕️ Rumble Coffee Roasters — our OG sponsor & coffee genius!Rumble Coffee Roasters is dedicated to helping you drink better coffee. Knock-out blends, world-class single origins, bold espressos and flavour-filled filter roasts. Rumble Coffee prides itself on personal relationships with producers and customers alike. Tell them Rask sent you. ***The information on this website and in our podcasts is general financial and tax information only. That means, the advice does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser or tax agent. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Jun 20, 2023 • 31min

Is my Tesla tax deductible? Buying a car for work, giving yourself a "pay rise" & FBT explained

Danil just had a baby (congrats!), Jordan just bought a Tesla, and Owen... also placed an order for a Tesla (even though he LOVES his banged-up old Subaru).Almost every person or business owns a vehicle for business and private use. And too many think a car is 100% tax deductible - which is not often the right answer.In this episode, Owen, Danil and Jordan explain: How to work out if your car is tax deductible Why does it make sense to buy a base model Tesla with ATO rules? (Check Luxury Car Tax) What does Fringe Benefits Tax (FBT) means and how to calculate it How to calculate depreciation on your car using the logbook How to do a logbook and remind yourself How much can tradies claim on their car? Can office workers claim the cost of a car? ~~ Resources ~~Rask Events Roadshow: https://www.rask.com.au/roadATO page on electric vehicles: https://www.ato.gov.au/Business/Fringe-benefits-tax/Types-of-fringe-benefits/fbt-on-cars,-other-vehicles,-parking-and-tolls/electric-cars-exemption/Ask a question: https://bit.ly/3QtiY00Grey Space website: http://bit.ly/3DG5lWSFree business course: https://bit.ly/rask-biz-courseOwen Rask's business coaching (beta): https://bit.ly/coach-owenThis Australian Business Podcast Episode is for founders, business owners and investors in private companies. Join 2,300+ students in our free business course!If you liked this episode, don’t forget to consider taking our free business course and tuning into the Australian Business Podcast episode one, in which I shared my journey.Love the Australian Business Podcast? Let me know about it by leaving a review on Apple or Spotify. If you want to help me out with the course, right now the best thing you can do is subscribe and review this podcast in Apple or Spotify. Please use the “Ask a question” menu link on the Rask websites, or leave your questions in the Apple Reviews.✅ Grey Space Advisory – accounting today for a smarter tomorrowDo you get stuck worrying about your business’ finances? Or what needs to be paid to ATO, employees, Super funds and so on? The Australian Business Podcast is proud to announce that our sponsor, Grey Space Advisory, is offering all business owners a financial health check.Jordan and Danil’s expert team of accountants will conduct a review of your tax structure, bank set-up, ATO obligations and reporting, business insurance and provide some advice on how to manage all of this — for just $99! Book a $99 business health check with the Grey Space Advisory team and tell them Owen sent you.☕️ Rumble Coffee Roasters — our OG sponsor & coffee genius!Rumble Coffee Roasters is dedicated to helping you drink better coffee. Knock-out blends, world-class single origins, bold espressos and flavour-filled filter roasts. Rumble Coffee prides itself on personal relationships with producers and customers alike. Tell them Rask sent you. ***The information on this website and in our podcasts is general financial and tax information only. That means, the advice does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser or tax agent. Learn more about your ad choices. Visit megaphone.fm/adchoices
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Jun 15, 2023 • 1h 8min

Rush Gold: how Jodi built a golden fintech business from scratch [CROSS POST]

Jodi Stanton is the co-founder of Rush Gold, an Australian platform enabling people to buy, hold, sell, invest and transact in gold 24/7. From as little as a couple of dollars to $10,000 or up to a million, Rush Gold helps investors get direct exposure to gold for as little as 1% with capped fees.This podcast takes you along the journey of how Jodi Stanton navigated her life from a super-entrepreneur to Yale University to a Wall Street actuary testifying before courts. Jodi explains how a trip around the world on a bike and a move to Australia led to the re-birth of a 'gold standard' style financial services platform, Rush.Please note this podcast with Rush Gold is a sponsored episode.~~ Resources ~~ Rask Events Roadshow: https://www.rask.com.au/road Rush Gold free investing report: https://bit.ly/r-gold Jodi's LinkedIn: https://www.linkedin.com/in/jodistanton Take Owen’s brand new Value Investor Program, which gives you all the tools and knowledge you need to invest successfully in companies, including valuation spreadsheets, investing checklists and ASX company case studies. Alternatively, why not take Owen’s FREE investor bootcamp: bit.ly/rask-analystMake Owen smile 😊If you want to thank us for putting this show together, please give The Australian Investors Podcast a 5-star review on Apple Podcasts or Spotify - it’s a 5-second task that really helps support the show (and puts a big smile on Owen's face).~~ Our amazing partners ~~👑 Download the free Investing in Gold report from Rush Gold 👑Download here: https://bit.ly/r-goldJ.P. Morgan Asset ManagementThe Australian Investors Podcast series is proudly supported by J.P. Morgan Asset Management. J.P. Morgan Asset Management provides opportunities to strengthen and diversify investment portfolios through alternative income strategies with the JPMorgan Equity Premium Income ETF (ASX: JEPI), currently the world’s largest active ETF with assets under management of USD25.49 billion (as at 16th May 2023). For more information, visit their website.Join The Intelligent Investor & saveThis podcast is brought to you by The Intelligent Investor, Australia's premier investment research membership service. Use the code "RASK", to get $100 off your annual membership or get a free 15-day trial (no credit card details required):📈 Click here for a free 15-day trial💸 Click here to join today ($100 off)DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg Learn more about your ad choices. Visit megaphone.fm/adchoices
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Jun 11, 2023 • 24min

Make more profit from July 1st: Owen & Jordan's top 8 ways to crush your business financials and make more profit

The economy is on the rocks. Your business could be about to get knocked. Don't leave your business strategy to chance!The Australian Business Podcast is back and your host Owen Rask speaks with Jordan Kidis, co-founder of Grey Space Advisory, about their 8 best tips for managing your business in the new financial year.These business tips are simple, effective and can be implemented right now.Owen & Jordan's tips for the new FY: Get the optimal number of bank accounts: how to manage your finances day-to-day. Jordan suggests two bank accounts. Use software (use Xero for good sized businesses, and perhaps Hnry for tiny businesses). Know how much cash to put aside for tax. Scott Pape recently said he puts 35% away. Is that too much? Automation - tradies and self-employed - get the ATO app. Everyone: take photos of every receipt and upload to Xero. Use e-commerce tools (even if you're not in ecom). If you sell a product or service, ask yourself, can it be done online via a website? Think courses, consulting packages, memberships, etc. or even merch? Have a centralised planner for content and your team's resources. Put 3 hours aside every month, same day, same time, to retro (look back on the month) and look forward. We're biased but get an expert: the cost of good accounting and bookkeeping isn't much when you consider the return from great advice. If your accountant isn't pulling their weight, shop around now! ~~ Resources ~~Ask a question: https://bit.ly/3QtiY00Grey Space website: http://bit.ly/3DG5lWSFree business course: https://bit.ly/rask-biz-courseOwen Rask's business coaching (beta): https://bit.ly/coach-owenThis Australian Business Podcast Episode is for founders, business owners and investors in private companies. Join 2,300+ students in our free business course!If you liked this episode, don’t forget to consider taking our free business course and tuning into the Australian Business Podcast episode one, in which I shared my journey.Love the Australian Business Podcast? Let me know about it by leaving a review on Apple or Spotify. If you want to help me out with the course, right now the best thing you can do is subscribe and review this podcast in Apple or Spotify. Please use the “Ask a question” menu link on the Rask websites, or leave your questions in the Apple Reviews.✅ Grey Space Advisory – accounting today for a smarter tomorrowDo you get stuck worrying about your business’ finances? Or what needs to be paid to ATO, employees, Super funds and so on? The Australian Business Podcast is proud to announce that our sponsor, Grey Space Advisory, is offering all business owners a financial health check.Jordan and Danil’s expert team of accountants will conduct a review of your tax structure, bank set-up, ATO obligations and reporting, business insurance and provide some advice on how to manage all of this — for just $99! Book a $99 business health check with the Grey Space Advisory team and tell them Owen sent you.☕️ Rumble Coffee Roasters — our OG sponsor & coffee genius!Rumble Coffee Roasters is dedicated to helping you drink better coffee. Knock-out blends, world-class single origins, bold espressos and flavour-filled filter roasts. Rumble Coffee prides itself on personal relationships with producers and customers alike. Tell them Rask sent you. ***The information on this website and in our podcasts is general financial and tax information only. That means, the advice does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser or tax agent. Learn more about your ad choices. Visit megaphone.fm/adchoices

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