Real talk about business finances. No jargon overload, no complicated theory—just practical advice from people who've been in the trenches. We share what works, what doesn't, and why it matters for your bottom line.
These pieces caught our attention recently. Each one tackles something specific that business owners are dealing with right now—from cash flow headaches to tax planning that doesn't put you to sleep.
Seasonal businesses know this feeling well. One month you're flush, the next you're scrambling. Here's how three Coffs Harbour retailers restructured their payment terms and built reserves that actually work.
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Most small business owners overlook legitimate write-offs because they seem too simple. We break down the home office deduction with actual numbers from real businesses—including what the ATO actually looks for.
Continue reading →A quick look at topics we've covered recently. Sometimes an idea sparks from a client question, other times from something we noticed in our own finances.
The BAS deadline doesn't have to feel like impending doom. We tested a simple monthly review system with eight businesses—most reduced their prep time by half and caught errors before they became problems.
Balance sheets intimidate people because they're presented badly. We redesigned reporting for a construction company and their management team actually started using the data for decisions. Format matters more than you'd think.
Three cafes in our region grew sales by 30% last year—and two nearly went under. Growth without profit management is just expensive chaos. Here's what the numbers revealed once we looked past the top line.
Most businesses price based on gut feeling or competitor watching. A local tradesman recalculated his hourly rate using real overhead figures—he'd been undercharging by $35 per hour for three years. That's not sustainable.
The envelope system works for businesses too. One account for operating expenses, another for tax obligations, a third for growth investments. Simple separation prevents expensive mistakes.
4 min readYour accountant mentions depreciation every year and your eyes glaze over. But understanding which assets to write off faster can shift your tax timing significantly—especially before major purchases.
6 min readThere's a tipping point where DIY accounting costs more than it saves. For most businesses, it hits around $300k in annual revenue—but the real indicator is how much time you're losing to financial admin.
5 min readFinancial advisors say "save six months of expenses" which sounds impossible when you're starting out. Here's a more realistic approach: start with two weeks, then build from there with automatic transfers.
4 min readNot all customers are equally profitable—some cost you money. A local service business discovered their biggest client by revenue was actually their least profitable once they factored in time and complexity.
7 min readPaying yourself super isn't just a legal requirement—it's one of the most tax-effective ways to extract profit from your company. Yet many directors underfund their own retirement while building business equity.
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I've reviewed hundreds of financial statements over the past decade, and there's a pattern that shows up repeatedly: businesses that looked healthy five years ago now operate on razor-thin margins. They didn't make catastrophic mistakes—their erosion happened gradually through dozens of small decisions.
The most common culprit? Costs that creep up while pricing stays static. A subscription here, a software upgrade there, slightly higher supplier prices. Each change seems minor, but compounded over time they carve away 3-5% of margin annually.
One manufacturing client came to us frustrated—revenue was up, but they felt poorer. We ran the numbers: their gross profit margin had dropped from 42% to 34% over three years. Raw material costs had increased 8%, but they'd only raised prices once by 3%. Simple maths, but they'd never actually calculated it.
The fix isn't complicated, just uncomfortable. Annual pricing reviews need to become standard practice. Not aggressive increases—just adjustments that keep pace with your actual cost structure. Most customers expect it, especially when you explain the reasoning clearly.
And here's something that surprises people: cutting costs isn't always the answer. Sometimes the better move is dropping unprofitable product lines entirely, even if they generate revenue. Freeing up capacity for higher-margin work can transform your whole business model.