The Business Behind Your Business

In this episode of "The Business Behind Your Business," host Paul Sweeney discusses the concept of "The Great Wealth Transfer" with his guest, Inbam Devadason, a seasoned financial advisor with over 30 years of experience in the financial services industry. Paul and Inbam look at the significant demographic shift in business ownership in Australia, where over 50% of small business owners are over the age of 50, ...

In this episode of "The Business Behind Your Business," we discuss the critical importance of understanding your financial figures as the year comes to a close. With tax season approaching, maximising your returns and profits is crucial, but many business owners often overlook the need to stay on top of their financial data. We highlight the necessity of maintaining accurate and up-to-date financial records to make inform...

In this episode of "The Business Behind Your Business" podcast, host Paul Sweeney interviews Dave Power, the founder of Power Creative, to explore the transformative power of video storytelling for business owners. With over 25 years of experience, Dave shares his insights on how to effectively use video to promote and grow your business by capturing the audience's attention and building trust.

Dave emphasizes the imp...

Do you feel confused about what you should be doing for your business at the end of the financial year? Do you feel pressure to buy, buy, buy with the EOFY sales?

Or do any of these concerns  around business taxes sound familiar?

• Scrambling to find the cash to make your tax payments
• Withholding spending on your business to free up money to pay your taxes
• Confusion and worry over taxes

You aren't alone! These are ...

What should business owners do when new technology threatens to derail their business? Close down or find a new path?

This was the dilemma experienced by professional copywriter Leanne Shelton (Write Time Marketing). With the avalanche of artificial intelligence taking over much of content creation, Leanne made the challenging decision to pivot her business and embrace AI by becoming an expert on ChatGPT and AI. Now, Lean...

There's so much uncertainty in the world and it can feel hard to confidently lead your small business when the path ahead is unclear.

Today we're joined by Jim Mills, the managing director of Merit Planning Hills, to look at some strategies to help guide businesses during difficult times.

Jim looks at some of the factors that affect businesses, including:

• Economic fluctuations
• Interest rates
• Government ...

As a small business owner, do you fall back on your business credit card for everything? While using these credit cards is very popular, it's important to recognise when there are better solutions. 

We are joined by Jason Smith (Capital Plus Finance) for a frank discussion on how credit cards can be misused by businesses, plus learn about some useful options for your funding needs such as non-bank business loans and o...

Does your business struggle with a constant turnover in employees? This is an issue for many businesses and the cost of hiring and onboarding new employees is high.

Or perhaps you have some amazing employees and you want to learn more about how to retain them? 

We are joined by Paul Cripps from PK People Solutions to look at these issues and more.

Paul highlights some of the Key Takeaways from the 2024 HR...

In this episode we'll be exploring the transformative power of Three-Way Forecasting and how it can revolutionize your approach to financial planning and decision-making.

Understanding Three-Way Forecasting:

• What exactly is Three-Way Forecasting? We break down this concept into digestible pieces, explaining how it integrates income statements, balance sheets, and cash flow statements.
• Learn why this holist...

If you watched our last episode, you will have learned that it is never too late to make a business plan. You can also download our Simple  Business Plan Template to get started.

In this episode, we look at some of the common mistakes business owners make when creating and using business plans.

So look out for these 5 common business plan fails:

1. Not actually making a plan
2. Lack specific goals
3. Plan isn't imple...

What are your business and personal goals for the year? What plans have you made? How will you implement these plans? How will you assess if your goals are being met? If these questions leave you feeling overwhelmed, never fear!

It's NEVER too late to make a business plan.

Find out the benefits of making a business plan, plus some simple tips to get you started.

• Learn about the simple framework for assessing your st...

The 2023 calendar year has drawn to a close. For many, it was still a year of hangover effects from covid and poorer economic conditions. For many others, it was a year of substantial growth and increased profits. 

So what set those businesses apart?

In this episode, our host Paul Sweeney reflects on some of the key takeaways from conversations with our guests and business owners.

From all of the team at ...

What do you need to consider when choosing an accountant for your business? It's an important decision -  getting the right accountant for your needs can help you build a profitable and healthy business. 

Here are some key factors to consider:

• What services does your business need? 
• What are your values?
• What are the qualifications and experience of the accountant?

Benefits of using an accountant:

• Improved sys...

One of the accepted risks of running a business is being audited by the tax department. Nowadays, there are multiple government agencies that you and your business  may need to deal with, apart from just the Australian Tax Office and possible income tax audits. With increased data sharing between government organisations, it has become much more common to have audit activity triggered for things like payroll tax issues or not payin...

What can you do to give yourself the best chance of success in your business? Following on from our last episode on business health checks, Paul Sweeney shares the 7 steps you need to take to create some positive changes in your business.

What kinds of outcomes can you expect? Your business will be more profitable, you'll be less stressed, and you'll feel more in control.

It's very normal for small...

In general, small businesses are not healthy. Here are some alarming statistics - Australian Small Business and Family Enterprises Ombudsman (ASBFEO) has found that 49% of small business owners make less than average wages, and two out of 5 micro and small businesses are not profitable.

Interestingly, there are also businesses who are thriving in the current conditions, at the same time these other businesses are failing. ...

Events have long been a go-to strategy for businesses aiming to showcase their products or services. However, it's not uncommon for these efforts to fall flat despite the considerable investments of time, effort, and money.

In this episode we address the questions of: 

1. How can we turn the tide and make our events successful? 
2. How do we extract real value from hosting these gatherings?
3. And most importantly, how can we...

Knowing your business and providing amazing products or services is only part of running a successful venture. Another crucial aspect of business success is building positive relationships.  From fostering business-to-business ties, to encouraging return customers, to keeping fantastic staff - how you manage relationships is integral to your business.

We are joined by Jason Owen, the Managing Director of D2N Technology Sol...

Business owners -  here's an important question to ask yourselves, "Do my customers actually know what I do for them?"

We are joined again by Nathan Williams (Customer Return) to look at this crucial issue - and how the use of storytelling can help bridge the gap in understanding and build your relationship.

You can spend a lot of time and energy providing amazing services or products for your custo...