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Business By Design
Business by Design is the podcast for owners who want to start, scale or exit a business. Each week, Stuart Wemyss and Mena Abraham unpack the four things every business must get right: value, engine, reach and team. Using the VERT flywheel, they show how these fit together to build a business that runs without you, and how the choices you make inside the business flow through to your personal wealth, lifestyle and exit options. Every episode is short and to the point, with no fluff and no sales pitches. Go to https://www.vertflywheel.com
Episodes
204 episodes
Ep 79: Considering financing an asset in your business? Here’s a few considerations
In this episode, Stuart and Mena dive into the different finance solutions available for asset finance and discuss the pros and cons of each option. They start by outlining the main types of asset finance:Chattel Mortgage - ...
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Ep 78: Debunking common tax minimisation myths
In this episode, Stuart and Mena debunk common tax minimisation myths perpetuated by some accountants to attract clients. They delve into strategies often marketed as tax-saving methods but may not necessarily be beneficial in the long run....
Ep 77: Who’s going to look after your business when you die?
In this episode, Stuart and Mena delve into a critical topic: "Who’s going to look after your business when you die?" Tune in as they navigate the complexities of estate planning for business owners, addressing key considerations to ensure the ...
Ep 76: Under what circumstances can businesses borrow?
In this episode, Stuart and Mena delve into the intricate world of business borrowings, offering invaluable insights and strategies to navigate this crucial aspect of entrepreneurship. They shed light on the criteria commercial lenders use, emp...
Ep 75: Powerful business insights – introduction to cost accounting
In this episode, Stuart and Mena dive into the powerful world of cost accounting, unveiling strategies to gain deep insights into your business's profitability at the product or service level. They break down the essentials of cost accounting, ...
Ep 74: Making the most of the 1 July tax cuts
In this insightful episode, Stuart and Mena delve into strategic approaches for maximising the benefits of the 1 July Stage 3 tax cuts. They highlight the advantageous shift in the average tax rate, emphasising that in the financial year 2024, ...
Ep 73: How to minimise land tax
In this episode, Stuart and Mena unravel the intricacies of minimising land tax, a looming concern expected to rise in the foreseeable future. They demystify the concept of land tax, emphasizing its assessment based on property holdings as of D...
Ep 72: Should you own a car through your business?
In this episode, Stuart and Mena dive into a critical question: Should you own a car through your business? Building on a previous discussion from March 2023 (S03-E09), they dissect the pros and cons of business ownership versus person...
Ep 71: Offering customers discounts – should you, when, how and why?
Embark on a strategic journey to business excellence with Stuart and Mena in this enlightening episode, where they unravel the intricacies of understanding and enhancing your business model. Offering a comprehensive breakdown of the nine vital ...
Ep 70: Understanding & improving your business model
Dive into the intricacies of business success with Stuart and Mena in this illuminating episode, where they unravel the importance of understanding and improving your business model. The hosts break down the business model into nine essential c...
Ep 69: Business exit strategy - personal considerations
Join Stuart and Mena in this episode as they unravel the crucial considerations for business owners contemplating retirement. With a treasure trove of insights, the hosts guide listeners through the key factors that shape the decision-making pr...
Ep 68: Do you have too many products and/or services?
In this episode, join Stuart and Mena as they unravel the key strategies for optimising business profitability by streamlining your product suite. The duo delves into the crucial importance of focusing on your customer, emphasising that trying ...
Ep 67: Sub-dividing land – tips and traps
In this episode, Stuart and Mena discuss strategies to sub-divide land and common traps that people fall into, including:Revenue v. capital account – you need to establish what your intention is from the onset.Double duty –...
Ep 66: Getting your business ready for sale
In this episode, Stuart and Mena discuss strategies that can optimise your sale proceeds and the marketability of your business, including:Financials – this is the first component that any prospective purchaser assesses. <...
Ep 65: Tax-effective home repayment case studies
In this episode, Stuart and Mena discuss strategies that optimise your ability to repay your home loan, including:Everyone's situation is different. If you earn business income and you encounter an unexpected tax liabi...
Ep 64: How to receive and leave an inheritance and minimise tax
In this episode, Stuart and Mena discuss tax-related matters that apply to inheritance, includingAustralia doesn’t have an inheritance tax like other countries.Main residence exemption. Pre-CGT assets.
Ep 63: Should you go into business with family or friends? If so, how?
In this episode, Stuart and Mena discuss matters to consider if you plan to employ or go into partnership with family or friends, including Don’t mix business with pleasure.Statistics show that 70% of partnerships fail...
Ep 62: How to unlock the most value from your accountant
In this episode, Stuart and Mena discuss how to proactively manage your accountant to get the most value. Timely and clear lines of communication. Make sure they understand your business goals and financial priorities.
Ep 61: How to read a set of financial statements
In this episode, Stuart and Mena share tips on how to read a set of financial statements. Familiarise yourself with the 2 to 3 main statements being a profit and loss, balance sheet, trading statements. Profit and...
Ep 60: Payroll management: what system to use?
In this episode, Stuart and Mena discuss how to manage your payroll to ensure you comply with employment laws. Key factors that you must consider Options: use a basic system or get a dedicated systemHuman...
Ep 59: Best practice BAS lodgement – who should do what and when
In this episode, Stuart and Mena discuss what is involved in preparing and lodging BAS and common mistakes and pitfalls. What should your bookkeeper doWhat does your accountant do Common mistakes and pitf...
Ep 58: How does the PAYG instalment system work?
In this episode, Stuart and Mena discuss how the PAYG instalment system works for all taxpayers including business owners. What is the PAYG instalment system. How does the ATO work out instalments?Are the...
Ep 57: Getting money out of a bucket company
In this episode, Stuart and Mena discuss what to do with your trapped funds in your corporate beneficiary:Look at your structure of the corporate beneficiary – are your shares individually owned? Is your corporate beneficiary also y...
Ep 56: Mastering the art of delegating so you can grow your business
In this episode, Mena and Stuart discuss how and when to start delegating roles in your business so that its less dependent on you, including: Roles in a business; the technician, the manager and the entrepreneur ...
Ep 55: What can and can’t a SMSF invest in?
In this episode, Mena and Stuart discuss what you can and can’t invest in a Self-Managed Superannuation Fund.Standard investments include direct property, listed shares, ETFs, managed funds, etc.Consider the sole purpose te...