Financial FOFU
By Sarah Eifermann and Trudi Cowan
*** WARNING... SWEARING INVOLVED***
DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners
Financial FOFUMay 15, 2023
When do I call in the Experts?
No business owner can “do it all”. So when is it time to call in the experts and how do you know which one? Sarah and Trudi unpack this in their latest episode where they talk about the importance of using experts within your business, and making sure you don’t leave it too late to call them in. They discuss some of the reasons you might use an expert and why isn’t not always in your best interests to do everything yourself. And as always, they touch on the importance of planning within your business and how these plans can ensure you get it right when it comes to using the experts.
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Just two industry experts having a friendly chat and sharing our knowledge. We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics. This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you see independent suitable advice that is specific to your unique circumstances
The Better Business Owners Course
You’ve heard us mention it, but this week we dive deep into the Better Business Owners Course. The course designed to build your business confidence and mindset. Sarah and Trudi will take you through the course content and structure (tip, you can just do the modules that suit you best!) as well as who the course is targeted at and why they think all business owners should do it. So, if you are feeling overwhelmed by paperwork, quotes and constant work hours take a little time out to listen to how this course can help you have a business that operates seamlessly, allowing you the chance to enjoy life beyond work!
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Personal Services Income (PSI)
PSI/PSB- professional profits
Personal services income (PSI) is an often misunderstand tax rule requiring individuals that earn more than 50% of their income from personal skill and effort to be taxed as if they were an employee. In this episode we walk through the, sometimes complex, rules around who is subject to the Personal Services Income rules. Sarah and Trudi will take you through the various tests that can exempt you from the PSI to treat you as a Personal Services (PSB) and some of the complexities around applying these tests. If you earn your income from your labour (as opposed to product) this is a must listen to episode to ensure that you are aware of the rules that potentially apply to you.
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Just two industry experts having a friendly chat and sharing our knowledge. We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics. This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Employee Entitlements
Do you have employees? If so, then this is a must listen episode for all things employee entitlements. Sarah and Trudi run through the various types of leave and other entitlements available to employees. They also touch on some tips on keeping up to date with FairWork changes and ensuring your employees have access to the policies applicable to your business.
Email updates: https://www.fairwork.gov.au/about-us/contact-us/subscribe-to-email-updates
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics. This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Managing Tax Debt
Tax debt is one of the biggest cash flow issues that many small businesses face. In this episode Sarah and Trudi talk about the most common types of tax debt that arise in business and work through how you can change your mindset around these taxes. They also take us through the various ways to both prevent having tax debt related cash flow issues and how to deal with it if you find you can’t pay on time. If you have ever had to stop and think “how will I pay the ATO” then this episode is for you!
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Just two industry experts having a friendly chat and sharing our knowledge. We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
What is Poverty Consciousness?
Poverty consciousness is the belief that there isn’t enough of anything to go around: not enough money, not enough time, not enough planning, leaders, clean air, rest, love – just about anything that you want or think you and others need, or that is important to you. So how does this impact you as a business owner? Listen is as Sarah and Trudi discuss Poverty Consciousness and how it can have an impact on how you run your business and how successful you will be in business. Thinking that this doesn’t apply to you? Well if you have ever proclaimed “I just don’t have time for that”, then you very possibly do! Listen in for an interesting discussion of the impact of your mindset in business and how you can improve it.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
How to Network and Build Relationships
We all know how to network right? Or do we? Love it or hate it networking is a part of being a business owner. We all need a network of people around us to help ensure business success – whether they be customer, supplier or biz buddy. In this episode Sarah and Trudi talk about how to (and not to) approach networking and how to get the most out of the networking opportunities available to you. They remind us that networking takes 2 to work properly, but that it can also take persistence and practice. Listen in for a refresher on how to make the most of your networking.
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Just two industry experts having a friendly chat and sharing our knowledge. We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Quality Client Outcomes
We all want our clients to walk about feeling like they have had a good experience, whether with out product or service. In this episode Sarah and Trudi discuss exactly what is a “quality client outcome”, and how it can look different for different types of businesses. They consider the reasons for wanting quality outcome and the difference between referrals and repeat business. This episode links in with episode 2 on the customer journey and is a fantastic continuation of the discussion on understanding our clients/customers' needs and wants, they need for clear communication and the benefit to business of having a strong client focus.
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Just two industry experts having a friendly chat and sharing our knowledge. We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
The Customer Journey
In this episode, Trudi and Sarah break down what the "Customer Journey” is and why optimising it is important to a business. All businesses rely on their customers/clients to have an ongoing business and understanding the customer journey is an important aspect of this. Sarah and Trudi emphasize the need to improve and refine the customer journey to ensure customer satisfaction and loyalty. They use the example of a bag to explain how to map out the customer journey and consider different outcomes and strategies. This episode is a great starting point for business owners to better map out and understand their customer journey within their own business.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Inefficiencies in your business are draining your profit!
And we are back for Season 5! In the opening episode Sarah and Trudi discuss how inefficiencies within your business can be impacting on business profitability. They consider the different types of inefficiencies such at processes, technology, communication and decision making. As well as talking through the various ways businesses can identify these inefficiencies and put changes in place. The new year is a great type to be reviewing your business and how you can do things better, so this episode is very timely!
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Season 4 - Bonus Episode- a wrap up of 2023!
We are back with a bonus episode to close out 2023! Sarah and Trudi review the year that was - some of the ups and the downs - and try to remember what their word of the year was while announcing new ones for 2-24. Join them to hear their predictions of what is in store for 2024 for the economy and what type of conditions businesses should be aware of. They also share their own plans for 2024 (including a big launch!). As always, they also share some tips to weather the current increasing cost of living and business expenses. Join us for one last listen and an opportunity to review the past year and look forward to the new one
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Matt Wong, Founder at Discernible
For our final episode of season 4 we interview Matt Wong. Matt is the owner of businesses Discernible and Team Human, does regular gigs as an MC/speaker, is a Pilot, is a classically trained musician, teaches courses on Udemy, has an MBA and clearly has a thirst for knowledge and growth.
Trudi and Sarah have a fascinating chat with Matt on how he has evolved in business, what drives him and his desire to continuously grow. He shares what keeps him motivated in business, how his previous experiences have prepared him for being a business owner and provides advise to those just starting out. Listen in and be inspired!
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
To work with or to not work with your Life Partner?
Could you work or run a business with your partner? I think for many the answer would be a firm NO! But there are plenty of couples out there that run businesses together – whether through planned decisions or circumstances. In this episode Trudi and Sarah speak with Ush Danak of the EQ Academy about the pros and cons of running a business with your life partner. They talk through some of the things you need to consider before jumping into this type of work arrangement such as responsibilities, pay and whether each partner actually has the time, focus and desire to contribute to the business. Working with your partner can be an amazing opportunity to spend more time together and grow something as a team but can also be the rod that breaks the camel’s back. Listen in to see if this is right for you, or if you are already working with your partner – whether there are changes you can make to improve your working relationship.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Risk Insurances with Nick Zaras
Nick from Consillium Wealth joins the team once again to talk all things personal insurances. Trudi and Sarah quiz Nick on the ins and outs of obtaining income protection and TPD insurance for business owners. They chat about who should have it and why as well as going through some of the practical aspects of obtaining the insurance - like do your need a DR certificate, how does medical history come into play, and how quick do the policies pay out. Also, did you know that you may have income protection insurance in your super and that Nick could potentially get you a better policy but still have it paid through your super? For more gold nuggets, listen in to this episode. You'll wonder why you haven't had this sorted sooner!
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Contracts in business and other important documents
One thing in business that can often come back to bite is not having the right legal/business documentation in place. We have back lawyer Samir Banga of Banga Legal to talk about some of the important legal documents you should have in place and why you should have them! We are talking contractor/employment agreements, privacy policy, loan documents and more. Do you know where your trust deed and company constitution is located? We also touch on some of the important policy documents you should have in place – in light of recent cyber breaches- do you have an IT policy? Do you employees know what they are allowed to use the work vehicle for? Having the right documents in place can ensure that all members of the team, customers and vendors know where things stand and how you do business. It means that in a dispute you have a document to refer back to. This one is a must listen for all business owners, not just those whose documentation needs a little work.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Why Bookkeeping is so important!
Rebecca Kartel from the Kartel Solution joins us today to talk about the importance of bookkeeping. Getting it right is so important to ensure your books are appropriately reflecting your business activity, but also to ensure that your financial and taxation obligations are prepared using accurate information. In this episode Trudi and Sarah with Rebecca talk about some of the reasons why we believe bookkeeping is so important. We discuss some of the things we commonly see go wrong and importantly when is it time to call in the experts. Cloud accounting software has simplified bookkeeper but also to a point that makes it easy to get it wrong. Listen in for some tips and tricks on completing your own books, or if you are on the fence about outsourcing – this episode might just guide you to the right decision.
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Just two industry experts having a friendly chat and sharing our knowledge. We aim to raise your knowledge base and dis-spell any myths surrounding finance, tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Quoting for Profit
The majority of business owners are in it to make a profit. But are you pricing/quoting your jobs to ensure that you will make a profit? Listen in as Sarah and Trudi talk you through how to quote to ensure you are making a profit. They take you one a guided walk using a template worksheet to explain contribution margin, fixed costs, job costs and more. Download the template from Financial FOFU website before you listen in and following along using your own numbers. This exercise can be an eye opener on why your profit margins aren’t what you thought!
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Forward Cash Flow Planning
Our regular listeners will know that this is one of Sarah's favourite topics, and for good reason - in business cash is king! In this episode Sarah and Trudi take us through exactly what cash flow planning is and why it is important to the success of any business. They provide some tips and tools on where to start and how to get it right to ensure a cash flow healthy business.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Depreciation
In this episode Sarah and Trudi talk all things depreciation. They will take you through what it is and the many different types. As well as the difference between depreciation and capital works and why accounting and tax depreciation can be two different things/amounts. They walk through the lending implications of depreciation, limits on how much you can claim and so much more. A short and sweet episode for all business owners purchasing assets within their business.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Buying a Motor Vehicle in your Business
Buying a car in your business is a topic that Sarah and Trudi both discuss with their clients on a very regular basis. Who can buy a car in their business? When can you buy, how do you buy, do you have to use it for work purposes? These are just some of the topics discussed. Trudi and Sarah will also take you through what are the financing options and when is it best to finance or buy outright. They also walk through the income tax and fringe benefits tax implications of owning a car in your business. This is a topic that is necessarily general in nature and a great starting point for anyone considering the purchase of a vehicle in their business.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Director's Duties
Hands up who is a Company Director? This is a MUST listen episode for you. Many people sign on to being a new Company Director because their Accountant/Lawyer/Spouse told them they needed to. But many are unaware of the implications of doing so. In this episode we chat with special guest Harry Croft of Studio Legal on what exactly are the responsibilities of a Company Director, what are the potential liabilities and where it can go wrong. The Director's Duties are enshrined within law and thus not only can there be civil penalties there can also be criminal charges for directors doing the wrong thing. This is a particularly important topic for those who are signing on as a director to an existing business where you may not have the knowledge of the day to day operations of a business.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here and check us out online here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Rewarding your Employees
Yes it's nearly Christmas! Which is a great time of year to review how you are rewarding your staff. Wages are only one component of remunerating your staff, so in this episode Sarah and Trudi discuss what are the other options to reward/thank your team for their work throughout the year. They chat about bonuses and pay rises as well as options. They also talk through Christmas parties and the need to know FBT implications. Employers are in need of new ways to retain their staff, so listen in to pick up a tip or two.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here or hit us up on our socials
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
How to get money from your business- all the different correct ways of paying yourself
You own the business so you can do whatever you like with the cash right?? Wrong! It all depends on the type of business structure you operate and your role within that business. In this episode Sarah and Trudi walk you through the different ways to pay yourself from your business depending on your particular business structure. They talk through options such as wages, loans, owner drawings, distributions and dividends. They also talk through the implications if you get it wrong. If you've had a recent change to your business structure or are not quite sure you are doing it right, then this episode is for you!
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Contracting vs Employee and Personal Services Income (PSI)
To staff your business with contractors or employees is a question that many businesses have had to consider. But which is right for you or is a combination best? There are distinct differences between employees and contractors from a legal, taxation and even practical perspective. Understanding these differences is important to enable you to make the right decision for your business so let Sarah and Trudi take you through some of the key factors to consider. They talk through the practical differences between the two, the cost differences and the taxation issues to consider. They also touch on some recent changes on how to determine whether your team are employees or contractors for tax purposes (see also a recent TCK blog post on the topic). Trudi and Sarah also take you through some considerations if you are the individual making the decision as to whether you want to me an employee or contractor – particularly in relation to how the personal services income rules could mean from a taxation perspective it makes no difference.
The contractor v employee distinction is an area where we strongly recommend professional advice as the answer can vary depending on small changes to your factual scenario. This episode is an introduction to the topic only.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here or hit us up on socials.
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
To Scale Up or Scale Down...
Trudi needs help! Should she continue to grow the business or slow down and keep it at its current level? This is a topic that Sarah often assists her Helix planning clients with so Trudi asks all the questions you might be thinking right now. What is the starting point for this decision, what factors should you consider, is there even a right/wrong answer? They talk about determining whether your business model is a sustainable model to grow, business goals, why did you start your business in the first place and is it delivering a liveable wage. They consider how you want your business to feel and what changes will help you get there. If you are also at that recurring crossroads listen in for some valuable tools and tips on where to start in making the important business decision.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here or hit us up on our socials
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
What to do when your business partner (and/or life partner) suddenly passes
Do you have a plan for what would happen if you were no longer able to run your business? How about a plan if your business partner suddenly passes? Or what would happen to your business if your life partner was to pass? These are discussions that many people find uncomfortable and would rather not think about let alone plan for. But consider, would you rather have a plan your spouse can put into action if you were to pass or leave them with a business they know nothing about nor what to do with? In this episode, Sarah and Trudi draw on personal experience to discuss this sensitive topic. The importance of having a plan as well as some factors you may consider in that plan. They touch on wills, life insurance, business succession, and much more. Regardless of what stage of your life this episode will provide you with practical tools and tips to ensure your and/or your loved ones can grieve without added business stress.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here or hit us up on socials
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Photography in your business. How to present your brand to the public with Simon Whittaker from Simon Whittaker photography
Anyone can take a photo right? Sure. But is that photo going to be the best representation of you and your business? In this episode, special guest Simon Whittaker from Simon Whittaker photography talks to Sarah and Trudi about the importance of photography in your business. Simon explains the impact the right photos can have, and the process that he takes his clients through in order to achieve the best possible results. We chat about the location, the wardrobe, the lighting and how to get you relaxed! We also talk about what to look for in a photographer to ensure you walk away with a suit of photos that best highlight your business.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Business Compliance with Adam Wood from Certified By
Every business has some form of government regulation and compliance that it must meet. Whether it be meeting OH&S obligations, WorkCover, HR, licensing obligations, or environmental protection regulations. Complying with government, private sector, and industry regulations can be difficult and expensive. But it is a necessary part of business. In this episode we chat with Adam Wood from Certified By – a business that helps SME's meet their compliance obligations in all aspects of business. We also have a chat about ESG (Environmental, Social, Governance) which is a hot topic right now and is particularly relevant if you work with large or government organisations. Sarah and Trudi ask Adam all the things SME's need to know and where to get starting with ensuring they understand and meet the compliance obligations specific to their business. If you've never really thought about this type of compliance, this episode is a great introduction to what you should be thinking about and doing.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
How to build your business from a Business Owners perspective
We've all listed to a podcast from the perspective of a marketing professional who has all the theory and experience on how to market your business. But we also know that most people like to chat with their business besties about what they do to get new business. In this episode Sarah and Trudi take a trip down memory lane and talk about some of the marketing strategies they used and what was successful and what was not to successful. This is a really practical conversation about different strategies you can employ in your own business and the often meandering path many take when starting out. The girls also give some tips on what they would have done differently if starting out again and on where they believe a business should focus their energy when try to stick to a low/no cost marketing strategy.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Defamation and what to do about it in business with special guest Samir Banga of Banga Legal
When we first started working the test was ‘If you didn’t want to see it on the front page of the newspaper, you probably shouldn’t say it’. Yet how many of us stop and think about that before smashing out a new post on Instagram or putting up a blog article or google review? The reality is that these mediums are quickly become a business risk, both if one of your employees says the wrong thing and if a customer doesn’t stop to think. In this episode Sarah and Trudi talk through this business risk with special guest Samir Banga from Banga Legal. We are talking about defamation – where (very very broadly) someone tells untruth and this has a reputational or financial impact on you and/or your business. In a very insightful conversation Samir explains what defamation is and what you can do to protect your business if you have been defamed or if one of your employees does so (whether intentionally or not) while representing your business. Listen in for our biggest tips to protect your business.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Current Environment Update: Borrowing Money, Tax Changes and what's ahead in Season 4
It's the first episode of season 4 and we are excited to be back with lots of updates for you! Sarah and Trudi chat about the current lending environment in light of the recent interest rate rises. Listen is for a few tips and things to be aware of if you either have a mortgage or are trying to get one. They also chat about some recent tax changes around FBT and a few that are coming up - think bonus deduction - (once the legislation is passed!) We check in on words of the year (do you remember what yours was?) and give a preview of what's planned for this season! Looking forward to another fun season!
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
What makes Verity Hare of TradieWives tick!
Here we are again at the last episode of Season 3! In this Season Finale double length episode we interview Verity Hare from Tradie Wives. Verity started a facebook group seeking support for herself and has managed to turn it into her full time gig supporting Tradie Wives across Australia, and now has over 16k in members!!!Listen in for a fun and inspiring chat about how she went from managing her husband's admin to owning/running a successful business herself.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Succession Planning
When you started your business did you think about how you might exit out of the business? Reality is that most of us don't. In this episode Sarah and Trudi have a chat about some of the exit strategy options that are available and why it is important to consider these even if you have no intention of exiting right now (who knows what the future holds, right?). They also have go through some of the things you can do to prepare your business for sale if you know that is the option on the horizon. Whether you are starting out or heading towards the twilight years of running a business, have a listen and start working towards putting a plan in place for your business.
Check out Bsale.com.au
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
How to protect your IP!
Did you know all businesses have some intellectual property (IP)? Did you also know that all business should take steps to protect this valuable asset? Trudi and Sarah talk to Jen, a legal IP lawyer, from Studio Legal about all the things IP related. We will take you through the different types of IP a business may have and the different protections that are available to businesses. Including which protections you need to apply for and which are automatically applied. If you've been following along this season and now have your marketing sorted, you now need to make sure your IP is protected so that all those $$ spent on developing and marketing your brand don't go to waste!
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
How to get more customers?
Following on from last week, Trudi and Sarah continue this discussion on marketing your business with Jessica Campbell from Penguin Wolf. This time the focus is on marketing strategy, branding and how to incorporate video content into your marketing plan. Jessica talks about how to get started with marketing your business and what goes into developing a marketing strategy (hint: it is more than create a cool logo!).
Penguin Wolf focuses on video content so we also chat about some of the different types of video content and how one shoot can be reused on different platforms. Plus Jess introduces us to Google and their marketing tools- some that we had never heard of! Join us for a very information chat around some marketing tools that can help accelerate your growth.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
What Social Media is right for my business?
This week Trudi and Sarah have invited in their own Social Media Manager Camielle Honrade from Follow Me Media to talk about using social media within your business. While they started with a list of questions to fire at Camielle, the three quickly found a topic they could have talked about for much longer! Camielle talks about some of her favourite platforms and why she feels that all businesses can benefit from social media. They will take you through some of the ways businesses can use social media, which platform to use and also briefly touch on the dreaded algorithm. This is a fun relaxed chat all about social media that is a great listen for all business owners.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
Please also leave us a review within your app!
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Interest rates, and their impact on, well, everything
If you haven’t had a conversation about interest rates or increase cost of….well anything – then you having been living under the proverbial rock! With the Reserve Bank of Australia increasing the cash rate for the first time in over 10 years it is a popular topic right now. Sarah and Trudi break down some of the factors that have caused the increase in interest rates in laymen’s terms everyone can understand. We’re not economists so they chat on the bits that are most relevant to you. They also talk about why it is relevant to you and take you through some useful tips on some of the things you should be doing right now to minimise the impact the rate rise has on your business/personal cash flow. Interest rates impact us all, so this is an episode for anyone who needs a breakdown in a fun chat that is easy to understand.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Asset Finance 101
It’s a common issue that when you’re growing your business you often need finance to assist. In today’s episode we break down the most common types of Asset Finance, and how they apply to what you are trying to achieve. We discuss the different types of loans including Chattel or Commercial Mortgages, Hire Purchases, Leases and Novated Leases as well as Standard/Full Documented or Express Loan Applications. Sometimes overlooked in the excitement to obtain your new goods, the length of term vs asset retention or lifespan of the asset aren’t considered and so we also break this down too plus chat about comparing Repayments and Directors Guarantees and their impact on your personal position.
If you have any questions regarding this type of finance, please feel free to reach out to Sarah at SFE Loans
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here and we'd really love it if you could leave us a rating!
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
ASIC and what you need to know!
If you have a company or a registered business name then you should be familiar with ASIC otherwise known as the Australian Securities and Investments Commission. In this episode Trudi and Sarah talk about ASIC as a regulator and some of the areas they are responsible for. We also talk about the companies register and the current project to merge more than 30 registers into one to improve reporting and efficiencies. In closing Sarah and Trudi detail the new requirement for Directors to obtain a Director Identification Number. If you have a company, this is a great episode to update your knowledge on the latest info you need to know.
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A short episode that really sets the scene on what Financial Fofu is and how it impacts you in your life
Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message hit us up on socials, and please leave us a review within your listening app!
Lesser Known Taxes
We all know what income tax is, and have some idea how GST works (it’s just 10% right?) but do you know about some of the smaller taxes that apply to businesses? In this episode Trudi walks us through some of the lesser known (but no less important) taxes that exist in Australia. We talk about the what and when of Fringe Benefits Tax, who needs to be aware of Payroll Tax and when Land Tax applies. We also touch on the reporting requirements under the Taxable Payments Annual Report. Think your business is on top of all of the relevant taxes? Listen in and make sure one of these smaller taxes hasn’t slipped through unconsidered.
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Just two industry experts (and guests) having a friendly chat and sharing our knowledge. We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, as always if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances.
Who do you get advice from?
If you talk to any advisor they will have a story about a client who came to them wanting to follow some advice they have received at the pub/bbq/park. While you might receive some advice that is appropriate, if you are not talking to a qualified advisor they may not have taken into account all of your specific circumstances that are so relevant to any piece of advice (whether accounting, legal, finance etc.). Sarah and Trudi in this episode not only talk about why they believe obtaining advice from the right place is so important, but also why it is so important to obtain timely advice. To demonstrate, they walk through various examples of when things have gone right for their clients and where they could have improved with earlier/better advice. This is an interesting episode that may make you re-think how and when you obtain professional advice.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, hit us up on socials, and PLEASE LEAVE US A REVIEW IN YOUR APP.
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Protecting your business
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, hit us up on socials, and PLEASE LEAVE US A REVIEW IN YOUR APP.
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
How to save EVEN MORE MONEY!
Our previous episode on saving money (you can click here to listen) has been one of our most popular episodes to date. So Sarah and Trudi revisit the topic to run through some more tips on how to save money and how to properly manage your cash flow so that you can save your money. From separate savings accounts, to reducing spending to shopping around, the girls break it down it to useful usable steps to ensure you have more money in the bank. The Government's Moneysmart website also has some really great tips and tools that we reference and highly recommend you check out.
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A short episode that really sets the scene on what Financial Fofu is and how it impacts you in your life
Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, hit us up on socials and PLEASE LEAVE US A REVIEW
The ins and outs of Self Managed Super Funds
Nick joins us once again for the 3 and final in a mini series to talk about SMSFs or Self Managed Superannuation Funds. These are very common among those who run their own business and those who want to have more control over how their superannuation is invested. Trudi, Sarah and Nick take you through why, why and when you should consider a SMSF and the upfront and ongoing costs of having an SMSF. They also talk about some of the special rules and restrictions that apply to SMSFs as they are a highly regulated product. If you ever wanted to know more about SMSFs or have considered setting one up, this is a great episode to start with on your learning journey.
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A short episode that really sets the scene on what Financial Fofu is and how it impacts you in your life
Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Everything you've wanted to know about Superannuation!
Nick Zara from Consilium Wealth again joins us to explain to us the ins and outs of Superannuation...you know that 10% your employer puts away for your retirement? Trudi and Sarah fire all the questions at Nick such as what is Super, how is it invested, can you choose your investment options, insurance and so much more. We talk about how to get more money into Super and when and how can you take money out. We also run through some government incentives that you may not be aware of such as the government co-contribution and the First Home Saver Super Scheme. So for all things super, this is the place to start in understanding your own retirement savings.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, hit us up on our socials and PLEASE LEAVE US A REVIEW!
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Where to start with Investing Money?
This week we invite back Nick Zara from Consilium Wealth to talk to us about investing. Nick helps us to debunk common myths about investing and the stock market. As well as talking through just exactly how to navigate stock market as a first-time investor, how to choose what to invest in, the importance of diversification and how to level up as an investor. Investing can seem like a whole new language at times, and this episode aims to break down and explain Shares, Managed Funds, ETFs and a whole host of other investment types as well as which types of investments work well to match to different types of goals. If you have some cash to invest but not sure where to start, this is the episode for you.
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Just two industry experts having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here and please feel free to give us a review!
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Healthy Cashflow Management
Our previous episode on saving money (which can be found here) has been one of our most popular episodes to date. So Sarah and Trudi revisit the topic to run through some more tips on how to save money and how to properly manage your cash flow so that you can save your money. From separate savings accounts, to reducing spending to shopping around the girls break it down it to useful usable steps to ensure you have more money in the bank. The Government's Moneysmart website also has some really great tips and tools that we reference and highly recommend you check out.
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Just two industry experts (and guests) having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here. We'd also love it if you could leave a rating on your preferred podcast platform.
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Are you pricing for a Toyota or Ferrari?
Noticing a theme this season? If you haven’t yet listened to the previous episode on break even analysis- STOP WHAT YOU ARE DOING- and listen to that one first. This is a follow on episode that works through how to price your product/service. The break-even point is a large part of this, however, given it's IWD, Trudi and Sarah also talk about why women often under price/value themselves, the importance of research and making sure you factor your own wage into the pricing of your products. After this episode you should have a good understand of whether you have gotten your pricing right, or whether it is time for a review to make sure you are charging your worth.
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Just two industry experts (and guests) having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here. We'd also love it if you could leave a rating on your preferred podcast platform.
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Break Even Analysis
This is a short but important episode where Sarah and Trudi take you through what is break even analysis and how it should be used when pricing your products or services. Download the free example spreadsheet here and follow along with two examples of break even calculations and then have a go at calculating the break even point in your own business. Understanding your break even point is a really important aspect of your business finances, as if you get it wrong it will flow through to pricing that may not be earning a profit!
Downloads from this episode are available at www.financialfofu.com.au
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Just two industry experts (and guests) having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here. We'd also love it if you could leave a rating on your preferred podcast platform
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances
Understanding Your Books
In this episode Sarah and Trudi talk about the importance of understanding your businesses financial books. They talk through some of the terminology and explain what the reports are for, but most importantly explain why each report is important and how it can help you in your business. If you want to learn more about your business finances this is the episode for you. We also highly recommend the Helix Planning course.
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Just two industry experts (and guests) having a friendly chat and sharing our knowledge.
We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
This is a safe space to ask questions and hear useful info on financial matters.
Read more about FOFU here
And, if you'd like to leave us a message, or suggest a topic, you can do so here. We'd also love it if you could leave a rating on your preferred podcast platform.
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DISCLAIMER- The information and material in this podcast, and supplementary and associated information available, is for general information only. It should not be taken as constituting professional advice from the podcast owners, and we recommend you seek independent suitable advice that is specific to your unique circumstances