Australian Business Podcast

In Australia, you now need to get yourself an ATO Director ID number and report it against your name. Here's what you need to know about how to get the Director ID. As I say in the podcast, I did it in 5 minutes but it might take you a little longer. FULL INSTRUCTIONS: How to get a director's ID Note: Owen is not a registered tax accountant or tax lawyer. Just a business owner and investor. Go speak to your accountant before acting on this information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Andrew Henshaw is a founding partner and managing director of Velocity Legal, a legal firm designed to help new and existing business owners manage all of their legal matters -- from complex tax situations, setting up your legal structure (properly!), commercial deals (buying and selling a business), and so much more.Andrew Henshaw sat down with Owen Rask on The Australian Business Podcast, Australia's leading podcast series for business owners, to talk about his business, and the lessons learned from advising hundreds of businesses throughout Australia. SHOW NOTESTopics covered with Andrew Henshaw of Velocity: Andrew's journey starting Velocity Legal with his partners and scaling it to 30 staff When it comes to a business owner thinking about the structure of their business (sole trader, trust, company or partnership) do you have any broad rules of thumb for how people can think about these structures for legal and tax purposes? How hard is it to switch between structures as the need arises? In what circumstances, or when, might someone consider switching from a sole trader to a company structure for tax benefits? When it comes to someone choosing between a trust or a company for risk/legal reasons, how do you make a distinction? Is it possible to use both? Is it possible to protect family/personal assets from a business? Andrew Henshaw's advice for business owners looking to sell their business: From a practical perspective - steps to take From a legal and tax perspective - maximising your sale price What's one thing that separates great business owners from the rest?  This Australian Business Podcast Episode is for founders and investors in private companies. Join 2,200 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.Australian Business Podcast resources Owen Rask’s free business course Ask a question Ladies Finance Club Say G'day to The Australian Business Podcast partnersRumble Coffee Roasters — our first partner!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. They pay farmers fairly so that they can invest in their land, their employees and their communities. You can buy some beans to drink at home or in the office via rumblecoffee.com.au. Alternatively, if you’re a coffee shop owner — get in touch and discover better ways to serve your customers. Tell them Rask sent you. ***The information on this website and in our podcasts is general financial advice 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. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. Please read our Terms & Conditions and Financial Services Guide before using this website. Learn more about your ad choices. Visit megaphone.fm/adchoices

Molly Benjamin is the founder of Ladies Finance Club, an in-person and online platform for connecting women with each other -- and their finances. In this Australian Business Podcast with Molly Benjamin, your host Owen Rask asks Molly how Ladies Finance Club came into existence, why women meeting to talk about money makes sense and how she scales her business.Then, in the second half of the podcast, Molly shares some of the wisdom she has gathered from her community. Things such as money saving tips, what holds women back from investing and so on. There's something for everyone!SHOW NOTES: https://www.raskmedia.com.au/podcastsThis Australian Business Podcast Episode is for founders and investors in private companies. Join 2,200 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.Australian Business Podcast resources Owen Rask’s free business course Ask a question Ladies Finance Club Say G'day to The Australian Business Podcast partnersRumble Coffee Roasters — our first partner!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. They pay farmers fairly so that they can invest in their land, their employees and their communities. You can buy some beans to drink at home or in the office via rumblecoffee.com.au. Alternatively, if you’re a coffee shop owner — get in touch and discover better ways to serve your customers. Tell them Rask sent you. ***The information on this website and in our podcasts is general financial advice 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. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. Please read our Terms & Conditions and Financial Services Guide before using this website. Learn more about your ad choices. Visit megaphone.fm/adchoices

Alisha Henderson is the creative genius and go-getter behind Sweet Bakes cakes, the author and designer of the Storybook Sweets, speaker, Instagramer and so much more.This podcast was recorded mid-2020 and original featured on The Australian Finance Podcast. But it was too good to pass up.Alisha's journey with Sweet Bakes started when she was just 19, it's been profitable since day one and has experienced incredible growth as she meticulously crafted her brand, marketing strategy and lived her life "with total joy".Alisha is one of the highest energy and positive young people I -- Owen -- have come across. It was my pleasure to talk with this inspiring young business person about hustling, online marketing, motivation, mindfulness, sticking your neck out, scaling a business and more. We hope you enjoy it!SHOW NOTES: https://bit.ly/AlishaHendersonThis Australian Business Podcast Episode is for founders and investors in private companies. Matt Vitale & Owen Rask share their journies and lessons learned from being exposed to hundreds of businesses. Join 2,100 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.Australian Business Podcast resources Owen Rask’s free business course Ask a question Sweet Bakes website Sweet Bakes Instagram Alisha’s children’s picture book series – Storybook Sweets Say G'day to The Australian Business Podcast partnersRumble Coffee Roasters — our first partner!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. They pay farmers fairly so that they can invest in their land, their employees and their communities. You can buy some beans to drink at home or in the office via rumblecoffee.com.au. Alternatively, if you’re a coffee shop owner — get in touch and discover better ways to serve your customers. Tell them Rask sent you. ***The information on this website and in our podcasts is general financial advice 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. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. Please read our Terms & Conditions and Financial Services Guide before using this website. Learn more about your ad choices. Visit megaphone.fm/adchoices

Wayne Hooper is the CEO of Laserbond Ltd (ASX: LBL), a $90 million business listed on the ASX that performs surface engineering. This episode first appeared on The Australian Investors Podcast.Wayne Hooper sat down with Owen Rask on The Australian Investors Podcast at Laserbond's Sydney-based factory in Smeaton Grange.Full show notes: https://www.raskmedia.com.au/2022/10/26/laserbond-lbl-wayne-hooper/Video version: https://youtu.be/1Sr2c07Z0HA This Australian Business Podcast Episode is for founders and investors in private companies. Matt Vitale & Owen Rask share their journies and lessons learned from being exposed to hundreds of businesses. Join 2,100 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.Australian Business Podcast resources Owen Rask’s free business course Laserbond Ltd website Ask a question Email Owen Say G'day to The Australian Business Podcast partnersRumble Coffee Roasters — our first partner!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. They pay farmers fairly so that they can invest in their land, their employees and their communities. You can buy some beans to drink at home or in the office via rumblecoffee.com.au. Alternatively, if you’re a coffee shop owner — get in touch and discover better ways to serve your customers. Tell them Rask sent you. ***The information on this website and in our podcasts is general financial advice 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. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. Please read our Terms & Conditions and Financial Services Guide before using this website. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Australian Business Podcast welcomes Matt Vitale, co-founder of Birchal — one of Australia’s best crowdfunding platforms. Matt Vitale talks with Owen Rask about his journey in building Birchal, the lessons learned from helping over 100 founders and why selling shares to raise capital can unlock growth.VIDEO VERSION: https://youtu.be/1Sr2c07Z0HAPlease note: Matt is uniquely positioned to talk about small businesses, how crowdfunding works, how to attract investors into your business and the opportunities for growth. However, it’s important to understand that investing in private companies can be very risky. Nothing in this top Australian Business Podcast episode said by Owen or Matt should be considered as financial or legal advice, and The Rask Group Pty Ltd strongly encourages all founders to get expert advice before raising capital — and for investors to speak with a financial adviser.This Australian Business Podcast Episode is for founders and investors in private companies. Matt Vitale & Owen Rask share their journies and lessons learned from being exposed to hundreds of businesses. Join 2,100 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.Australian Business Podcast resources Owen Rask’s free business course Sell part of your business on Birchal Invest in a private company Know of the risks of crowdfunding Ask a question Email Owen Say G'day to The Australian Business Podcast partnersRumble Coffee Roasters — our first partner!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. They pay farmers fairly so that they can invest in their land, their employees and their communities. You can buy some beans to drink at home or in the office via rumblecoffee.com.au. Alternatively, if you’re a coffee shop owner — get in touch and discover better ways to serve your customers. Tell them Rask sent you. ***The information on this website and in our podcasts is general financial advice 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. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. Please read our Terms & Conditions and Financial Services Guide before using this website. Learn more about your ad choices. Visit megaphone.fm/adchoices

Australian Business Podcast, Australia’s newest top business podcast welcomes Joe Molloy, co-founder of Rumble Coffee Roasters in Melbourne, to walk us through: How coffee is made Who makes money in cafes Finding great baristas and staff How a cafe can make bigger profits – Joe estimates the best cafes could turn over $1 million per year! Common mistakes to avoid in building a cafe The best tools and software to build a cafe from scratch Joe’s advice for all cafe owners Podcast video: https://www.raskmedia.com.au/2022/10/11/1-million-cafes/ Site tour video: https://youtu.be/z_mAkzrTREc Want to learn more? Take our free business courseIf 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.Australian Business Podcast resources Rumble Coffee Roasters tour: how coffee is made Rumble Coffee Roasters Owen Rask’s free business course Ask a question Email Owen Say G'day to The Australian Business Podcast partnersRask – Get Owen’s best investing researchThe Australian Business Podcast’s official sponsor is Rask, our very own company. We empower hundreds of thousands of investors around Australia, whether you’re new or have been investing for 40 years. You can take an investing course on Rask Education to discover how Owen carefully researches small or blue chip companies, or become a premium Rask member today to speak directly with Owen and see what he is investing in.As Warren Buffett famously said, “I am a better investor because I am a businessman, and a better businessman because I am no investor.” Rumble Coffee Roasters — our first partner!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. They pay farmers fairly so that they can invest in their land, their employees and their communities. You can buy some beans to drink at home or in the office via rumblecoffee.com.au. Alternatively, if you’re a coffee shop owner — get in touch and discover better ways to serve your customers. Tell them Rask sent you.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Australian Business Podcast episode #12 is now live on the Rask network: when you get paid.Many Australian small business owners will work months at a time, without a day off.Many of us do 10-12 hour days, sacrificing time with family and friends.Most of us will work for weeks, months or years — without taking a salary.All of us take our work home, whether we show it or not.This is normal.As a result, I often see many of us going a long time without putting ourselves first.In part 12 of The Australian Business Podcast I simply want to remind you that it's okay to pay yourself -- and to pay yourself well. What's your ramen number? As my shareholder told me, your 'ramen number' is the absolute minimum amount of money it takes to keep your business running -- the bare essentials. Calculating your ramen number means stripping your business back to only the absolute essentials.Every business should know their ramen number -- because it'll help you prioritise your spending, make bigger profits and discover new ways to be profitable.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.Podcast resources Owen Rask’s free business course Ask a question Email Owen Business Podcast show notes Say G'day to The Australian Business Podcast partners Rask – Get Owen’s best investing researchThe Australian Business Podcast’s official sponsor is Rask, our very own company. We empower hundreds of thousands of investors around Australia, whether you’re new or have been investing for 40 years. You can take an investing course on Rask Education to discover how Owen carefully researches small or blue chip companies, or become a premium Rask member today to speak directly with Owen and see what he is investing in. Rumble Coffee Roasters — our first partner!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.They pay farmers fairly so that they can invest in their land, their employees and their communities. You can buy some beans to drink at home or in the office via rumblecoffee.com.au. Alternatively, if you’re a coffee shop owner — get in touch and discover better ways to serve your customers. Tell them Rask sent you.***The information on this website and in our podcasts is general financial advice 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. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. Please read our Terms & Conditions and Financial Services Guide before using this website. Learn more about your ad choices. Visit megaphone.fm/adchoices

Australian Business Podcast episode #11 is now live on the Rask network: the 6 ways your business will definitely die ☠️.Remember, at least 40% of Australian small businesses fail within 5 years.So, yes, this is as scary as it sounds. Your business will definitely die if you do these 6 things. I all but guarantee it.You: “Owen, this business thing is daunting enough as it is, why on earth are we talking about this stuff now?”Queue a Charlie Munger quote…It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.Charlie Munger, billionaire investing partner of Warren BuffettThere are two reasons we should talk about business failure right now: As Charlie says (above) it’s often easier to avoid doing something dumb than it is to be perfect — so let’s avoid doing something dumb before we try to be brilliant little business owners. Around half of businesses started today won’t be alive in 5 years — let’s focus on surviving to the finish line. Put another way, instead of trying to finish first, let’s first finish. My six reasons your business will die include: You fail to plan 🤪 (remember to use our free business course workbook) You overcapitalise 💰 (spend before you need it) You take on expensive leases ✍️ You avoid looking at your finances 🙈 You fail to market… aggressively 📈 You burn out 🥵 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.Podcast resources Owen Rask’s free business course Ask a question Email Owen Business Podcast show notes Say G'day to The Australian Business Podcast partners Rask – Get Owen’s best investing researchThe Australian Business Podcast’s official sponsor is Rask, our very own company. We empower hundreds of thousands of investors around Australia, whether you’re new or have been investing for 40 years. You can take an investing course on Rask Education to discover how Owen carefully researches small or blue chip companies, or become a premium Rask member today to speak directly with Owen and see what he is investing in. Rumble Coffee Roasters — our first partner!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.They pay farmers fairly so that they can invest in their land, their employees and their communities. You can buy some beans to drink at home or in the office via rumblecoffee.com.au. Alternatively, if you’re a coffee shop owner — get in touch and discover better ways to serve your customers. Tell them Rask sent you.***The information on this website and in our podcasts is general financial advice 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. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. Please read our Terms & Conditions and Financial Services Guide before using this website. Learn more about your ad choices. Visit megaphone.fm/adchoices

Australian Business Podcast episode #10 is now live on the Rask network: my best software, apps and tools for small business owners.In this episode, I -- Owen Rask, founder of The Rask Group -- dive into my favourite tools for small business owners. 1. Design – Canva – Link 🎨 2. Xero – accounting, HR, Super & Tax 🧮 3. WordPress – More advanced website builds 👩‍💻 4. Google Workspace 👨‍💻 5. Payment terminals – Smartpay or Square 🧾 You can download our business plan template on Rask Education. 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.Podcast resources Owen Rask’s free business course Ask a question Email Owen Business Podcast show notes Say G'day to The Australian Business Podcast partners Rask – Get Owen’s best investing researchThe Australian Business Podcast’s official sponsor is Rask, our very own company. We empower hundreds of thousands of investors around Australia, whether you’re new or have been investing for 40 years. You can take an investing course on Rask Education to discover how Owen carefully researches small or blue chip companies, or become a premium Rask member today to speak directly with Owen and see what he is investing in. Rumble Coffee Roasters — our first partner!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.They pay farmers fairly so that they can invest in their land, their employees and their communities. You can buy some beans to drink at home or in the office via rumblecoffee.com.au. Alternatively, if you’re a coffee shop owner — get in touch and discover better ways to serve your customers. Tell them Rask sent you.***The information on this website and in our podcasts is general financial advice 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. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. Please read our Terms & Conditions and Financial Services Guide before using this website. Learn more about your ad choices. Visit megaphone.fm/adchoices