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In this episode, Stuart and Mena uncover the most common accounting errors that can quietly cost business owners thousands in tax, compliance issues, or poor financial decisions. They begin by highlighting why your accountant plays a critical role as your de facto CFO, and how to spot red flags if things aren’t quite right. One of the biggest warning signs? A bank reconciliation that doesn’t match your records. Mena explains how overlooked discrepancies here can lead to under-reported profits, incorrect GST, or even missed fraud.

From there, Stuart and Mena alternate through a list of common accounting mistakes they frequently see, including poorly recorded director loans, unreconciled GST, misclassified expenses, inconsistent bookkeeping, and journal entries that go unreviewed. They also flag year-end issues like unadjusted stock levels or bad debts that can distort your true profit and tax position.

Mena wraps up with practical advice: if something feels off, ask questions, get a second opinion, or consider switching accountants. A short review could save tens of thousands in future headaches. Stuart closes with a reminder—your accountant should simplify decision-making, not make it harder. If they’re not adding value, it’s time to dig deeper. A must-listen for business owners who want more control over their financial outcomes.

If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!

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SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.

Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.

Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.

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In this episode, Stuart and Mena take a deep dive into the world of small-scale property development, highlighting both the potential rewards and the very real risks involved. Off the back of recent episodes about property spruikers selling uneconomical "development sites," they clarify what genuine small-scale development looks like, who it's suited to, and where it fits into a broader investment strategy.

Mena explains the typical scope of a small-scale project, think two to four dwellings, and outlines the knowledge, financial strength, and risk appetite required to execute one successfully. They discuss how to assess feasibility, the importance of zoning and council regulations, and how to target the right locations. Stuart and Mena also cover common red flags that indicate a project should be avoided entirely.

From financing and structuring to managing construction timelines, servicing loans, and avoiding costly mistakes, the episode offers practical advice for first-time developers. Stuart shares real-world insights on how to balance risk with potential returns, and Mena outlines actionable steps for those curious about getting started.

Whether you're seriously considering a small development or just want to understand the mechanics, this episode offers a grounded, evidence-based view on how to approach small-scale projects the right way.

If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!

Click here to subscribe to our weekly email.

SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.

Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.

Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.

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In this follow-up episode on succession planning, Stuart and Mena explore the second path: selling your business to an external buyer. Unlike a transition strategy, this approach involves a clean break, often preferred by owners seeking speed, lifestyle change, risk reduction, or when no internal successors are available. Mena begins by outlining the different types of buyers: strategic buyers (such as competitors looking to scale), financial buyers (like private investors or P/E firms), and the key distinctions between industry insiders and outsiders. Stuart then breaks down what buyers are actually purchasing, whether assets or shares, and explains why this matters for both tax outcomes and deal structure.

Next, Mena shares what makes a business attractive to buyers, including having strong systems, clear profitability trends, clean structures, and staff retention strategies. These elements take time to build, which is why business owners should begin preparing 2–3 years in advance. Stuart closes with a look at common pitfalls, like poor planning, unrealistic earn-out clauses, and lack of professional advice, and highlights how communication with staff and clients can make or break a successful sale.

This episode is essential listening for business owners considering an exit. Whether it’s a transition or sale, early planning gives you the power to choose the best path forward.

If this episode resonated with you, please leave a rating on your favourite podcast platform. It helps us reach more incredible listeners like you. Thank you for being a part of the journey!

Click here to subscribe to our weekly email.

SPECIAL OFFER: Buy a one of Stuart's books for ONLY $20 including delivery. Use the discount code blog here.

Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.

Follow us: Stuart: Twitter/X and LinkedIn. Mena: LinkedIn

IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.