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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 29: How can you tell if your accountant is doing a good job or not
This week, Mena and Stuart discuss how to tell whether your accountant is doing a good job or not. We discuss: The fact that fees tend to be either end of the spectrum I.e., too cheap or too expensive. Some sign...
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Ep 28: Start-ups: what are blockhole expenses and how to treat them
This week, Mena and Stuart discuss: What is blackhole expenditureTypes of expenses included under blackhole expensesHow to treat these types of expenses in your tax accounts.If you would like us t...
Ep 27: How to build a consulting/professional services business
This week, Mena and Stuart discuss how to build a consulting/professional services businesses, including Rule of One ThirdExpense management strategies You can’t build a great business without a great tea...
Ep 26: What costs are deductible when you buy an investment property
This week, Mena and Stuart discuss what costs are deductible when you buy an investment property including How to treat all capital costs Improvements made to the property prior to renting it to a tenant
Ep 25: How to manage your stock on hand to maximise profit
This week Mena and Stuart discuss tips on how to manage your stock on hand to maximise your business’ profitability, including: Why stock takes are important Why to analysis your stock turn-over (by category and i...
Ep 24: What you must know about trust distributions
This week Mena and Stuart what you must know about trust distributions. Main points include: Not presently entitled to income is taxed at 45%, so it’s best to make a distribution. Trustee minutes must be completed...
Ep 23: Intersection of investment and taxation advice (case study)
This week Mena and Stuart discuss how investment and taxation advice intersect using a real client as a case study. Main points include: How we eliminated Div. 7A issues saving the client $30k p.a. in tax Making s...
Ep 22: Should you pay yourself a salary?
This week Mena and Stuart discuss the common factors that business owners should consider when deciding whether to pay themselves a salary including: Payroll tax and work cover considerations Easier to manage ta...
Ep 21: Great Xero apps that will streamline your business
This week Mena and Stuart discuss some of the most popular apps that plug into Xero that help business owners optimise and streamline with business. We discuss: Xero projectsHubDoc/Dext - paperless payablesPay...
Ep 20: Tax-free capital growth: Make the most of your main residence CGT exemption
This week, Mena and I discuss rules in relation to the main residence CGT exemption. There aren’t many things that are tax free, so you should make the most of this exemption. Difference between residing in the property when fi...
Ep 19: What to look for in a bookkeeper (and how to find a good one)?
This week, Mena and I discuss how to choose a bookkeeper, including: When you should be doing your own bookkeeping?If your business as some complexity, look for experience in your industryFunctions they should...
Ep 18: Does becoming self-employed help me pay less tax?
This week, Mena and I discuss whether becoming self-employed helps you reduce the amount of income tax you pay. We discuss: The Personal Services Income (PSI) rules and how they apply. Flexibility to distribute b...
Ep 17: How do franking credits work?
This week, Mena and I discuss how franking credits (aka imputation credits) work and how integral they are when it comes to tax planning including: · Their aim is to avoids double taxation. · &n...
Ep 16: How do I maximise negative gearing tax benefits from investing in property?
Mena and I discuss how to: · Maximise your interest tax deductions and ensure your loans are structured in a way that ensures the ATO cannot successfully challenge this deduction. · ...
Ep 15: How do you buy a business?
This week Stuart & Mena discuss how to buy a business including: How to find a good business to buyNegotiating a fair price How to finance the acquisition Completing due diligence (also...
Ep 14: What is due diligence?
This week Stuart & Mena discuss due diligence. Due diligence includes the process to assess the assets, cash flows and risks associated with a business which is usually undertaken before you buy a business What information ...
Ep 13: How much super do you need to have to justify setting up a Self Managed Super Fund?
This week Stuart & Mena discuss what super balance you need to have to justify setting up a SMSF. This discussing includes: Be clear on reasons why and consider if there are more cost-effective alternatives. If it’s ...
Ep 12: What is a dump company
This week Stuart & Mena discuss what is a dump company – also referred to as a corporate beneficiary or non-trading investment company. This discussing includes: What is a corporate beneficiary and how is it used?
Ep 11: Can I use my super to invest in property?
This week Stuart & Mena discuss the key factors that people must consider when contemplating investing their super in direct residential or commercial property. Including: Why you need a SMSF to do that Borro...
Ep 10: How do you value a business?
Mena and Stuart discuss how a business is valued: The value of a business is equal to the present value of its future cash flows. Therefore, we must ask (1) what cash profit will it generate and (2) what are the risks associate...
Ep 9: What are the top three reasons accountants recommend establishing a SMSF?
Mena Abraham and Stuart Wemyss discuss the top 3 reasons that we think accountants recommend setting up a Self Managed Super Fund (SMSF) and whether they have merit.
Ep 8: How to prepare your business for sale and maximise your after-tax proceeds
There are many reasons to improve the saleability of your business, including if it’s your plan to sell your business in the future, of course. Other reasons can include succession planning, to raise capital, reduce your working hours and so on...
Ep 7: How to scale your business to multiply your profits
Knowing how to scale your business is the fastest and most successful way to multiple your business’ profitability. That is why it’s important to consider if your business lends itself to scaling and if so, how to do it. In this episode, Mena a...
Ep 6: How to prepare a practical and actionable business plan - and why it's so important
Many business owners prepare a business plan when they first start their business. But this document is never looked at again. We encourage our clients to invest one day every two to three years to draft a practical and actionable business plan...
Ep 5: A business owners most important decision is setting the price of their product or service
If your net profit margin is 20% and you increase your price by 10%, you will increase your profit by 50%! That is why pricing is probably the most important decision that a business owner makes. However, most business owners ...
