29 episodes

This podcast covers all things bookkeeping, finance and small business. Each episode will leave you feeling more informed and more confident about running your business so that you can make better financial decisions and create the business of your dreams.

Straight Up Small Business Bec Buchanan

    • Business
    • 5.0 • 17 Ratings

This podcast covers all things bookkeeping, finance and small business. Each episode will leave you feeling more informed and more confident about running your business so that you can make better financial decisions and create the business of your dreams.

    Why I don’t skimp on any of my business expenses

    Why I don’t skimp on any of my business expenses

    My main advice for anyone in small business is that they should have a budget and keep a close eye on their finances.
    So, it might surprise you to learn that I spend a whole lot of my business cash on all sorts of expenses - from the best-of-the-best systems, contractors, staff, insurance, and more.
    However - I don’t spend any money that isn’t worth it to do so. In this episode, I’ll take you through the decision making process I run whenever I decide to invest in a new expense. 
    These are a series of checks that help me understand whether the expense will save us time, promote collaboration and elevate the experience for our customers. I also assess whether it’s the right time to invest in the expense and if the business can afford it. And at the end of each financial year, I run what I like to call our Marie Kondo joy test of expenses.
    Having a budget doesn’t mean skimping on things. For us, having a budget means ensuring we are bringing in enough revenue to afford all the things that we need and want in our business, while still being really profitable.
    This episode will help you understand how to ensure your expenses are aligned with your needs and how to review them each year to ensure you’re getting the most out of the money you’re spending on them.


    LINKS: 
    Where to Find Bec:
    Website:https://straightupbookkeeping.com.au/ Instagram: @straightup_bookkeepingFacebook: @straightupbookkeepingLinkedIn: @straight-up-bookkeeping

    • 8 min
    Why you shouldn't choose the cheapest bookkeeper. And other things to look out for

    Why you shouldn't choose the cheapest bookkeeper. And other things to look out for

    This week I have a bit of a different episode for you - it’s based on an article I read in the paper last week outlining how the bookkeeper for the surfing legend family The Wrights is going to jail for extorting $1.5 million from them over ten years.


    I initially didn’t want to talk about this story - I was scared that bringing this to people’s attention would scare people off getting a bookkeeper. But I realised that, given my platform and audience, I  could do more good for the business world by sharing my view instead of pretending it didn’t happen. So I stand in my power as a trustworthy, highly experienced and ethical bookkeeper to share my wisdom around what makes a good bookkeeper and what questions you need to ask when hiring one.


    Bookkeeping, like so many other services, is not something you should skimp on - iIt’s not something you want to entrust to just anyone.


    Of course, while being expensive or at the upper end of the cost spectrum doesn’t automatically make someone a good bookkeeper, it can be a strong indication of experience and of the systems behind the bookkeeping business that make it safe and trustworthy.


    I share the five things you need to look for when choosing a bookkeeper and the controls you need to have in place when you have a bookkeeper helping you with your business.


    I also share my findings around what the right and acceptable price is to pay for bookkeeping, and the reasons behind this price.


    So - go forth and hire a bookkeeper if you need this help in your business. Just hire the right one, and remember you have a role to play in the success of the relationship.


    Where to Find Bec:
    Website:https://straightupbookkeeping.com.au/ Instagram: @straightup_bookkeepingFacebook: @straightupbookkeepingLinkedIn: @straight-up-bookkeeping

    • 14 min
    Straight Up Legal Talk with Riz McDonald from Foundd Legal

    Straight Up Legal Talk with Riz McDonald from Foundd Legal

    I have a treat for you this week, my very own legal guru, the amazing Riz McDonald from Foundd Legal, is on the show to share all of her expertise and experience.

    Riz has been a lawyer for 20 years and an eCommerce entrepreneur for the past 10 years. Riz provides insight and legal knowledge to all of the obstacles and challenges you face as a business owner. Through her own experience as a creative entrepreneur, Riz has first hand knowledge of what creative business owners deal with on a daily basis so she began designing affordable industry-specific templates to help guide and protect clients through their legals.

    I love Riz’s advice that our business may be small but you need to think big!

    In this episode, Riz takes us through the legal side of running a business. There is so much to think about when you’re starting a business but with Riz’s help, we can do a health check and make sure that all of our current processes and documents are up to date.

    Our conversation explores the legal steps that every business needs to take in the start-up phase, business structures, necessary legal documents, legal templates, employee contracts, copyright protection, trademarks and hiring a team.

    One of the most important assets a business has is its intellectual property. All of the course content, copywriting, business name, course name, and slogans can be protected through trademarking and copyrighting. Riz takes us through how important it is to ensure our business is protected from others taking and copying all of our unique intellectual property with clear actionable steps. 

    Riz finishes off with her biggest lessons for businesses that aren’t yet at the 3 year mark. Tune in and write these down because they’re invaluable to growing and building a successful, legally protected and sustainable business.

    LINKS: 

    Where to find Riz McDonald: 
    Website: www.founddlegal.comInstagram: https://www.instagram.com/founddlegal/LinkedIn: https://www.linkedin.com/company/founddlegal/ Facebook: https://www.facebook.com/founddlegal/ 
    Check out Riz’s FREE Business Startup Checklist here! 

    Where to Find Bec:
    Website: https://straightupbookkeeping.com.au/ Instagram: @straightup_bookkeepingFacebook: @straightupbookkeepingLinkedIn: @straight-up-bookkeeping

    • 35 min
    Should you hire a contractor or an employee? And when is the right time?

    Should you hire a contractor or an employee? And when is the right time?

    How do you know when you’re ready to take on paid employees?

    Depending on your business situation, you will be considering either an employee or a contractor, or even a mix of both within your team. There are several decisions you’ll need to make when choosing which path to take but don’t worry I’m here to help!

    In this episode, I’ll cover the important questions surrounding hiring a contractor or an employee and how to decide the right time to bring someone on board.

    When I became overwhelmed with my workload and realised that I would never be able to take any leave, I knew I needed to branch out and seek help from a team. Most business owners will come to this same situation if their business is growing and don’t want to work 24/7!

    I’ll run you through how to learn if you can afford employees in your business with a cash flow forecast, the cash outflow the new resource will cost your business (contractor vs employee), the questions you need to consider, superannuation and tax, and 6 important points to think about when deciding whether to employ a contractor or employee.

    This episode is perfect for you if you’re choosing between hiring a contractor or an employee for your business. It’s jam-packed with everything you need to consider when making your decision and I encourage you to come back again and again when you’re ready to grow your team.

    LINKS:

    Where to Find Bec:

    Jump into my Budgeting and Cash Flow Forecasting Mini Course here!

    Check out my course Bookkeeping it Real here! 
    Website:https://straightupbookkeeping.com.au/ Instagram: @straightup_bookkeepingFacebook: @straightupbookkeepingLinkedIn: @straight-up-bookkeeping

    • 17 min
    Let's talk payroll

    Let's talk payroll

    Payroll is a hot topic at the moment. It’s the end of the financial year and of course, everyone wants their group certificates for tax purposes (even though they don’t exist anymore). We have until the 14th of July to get all of our client's payroll recognised and finalised with the ATO so there are only a few days left. 

    In this episode, I’m taking you through a high-level overview of what payroll is (including superannuation and PAYG information), important notes you need to think about, and, finally, I’ll walk you through 15 points you need to tick off to ensure you’ve got your payroll covered.

    Payroll is one of the most complicated parts of my business. There are challenges for businesses that employ a mix of casual, part-time and full-time staff, include special contractual arrangements (such as allowances, deductions, and salary sacrifices), and must adhere to complex awards.

    The average business owner doesn’t understand the complexity of payroll and often I’ve seen the average bookkeeper struggle. We often hear about payroll underpayments from big companies on the news that extend into the millions so I want to stop any of that happening to you down the road.

    Write down each of these 15 checks to sit down and go through carefully to make sure you’re running your payroll correctly, efficiently and in compliance with the ATO.

    LINKS:

    Where to Find Bec:

    Check out my course Bookkeeping it Real here! 
    Website:https://straightupbookkeeping.com.au/ Instagram: @straightup_bookkeepingFacebook: @straightupbookkeepingLinkedIn: @straight-up-bookkeeping

    • 17 min
    Why it's time to increase your prices

    Why it's time to increase your prices

    It’s the start of a fresh financial year and today I’m going to be talking about why NOW is a good time to increase your prices if you haven’t already. I’ll be sharing from an objective, accounting perspective, not from a money mindset point of view, which many amazing business coaches talk about. 


    In this episode, I specifically talk about how inflation, superannuation and the state of our country right now all factor into why it’s time to raise your prices. 


    I talk about the current high inflation environment and how this impacts the cost of running your business. I also dive into recent changes to superannuation and go into detail about why I’ve increased my prices by 5% this financial year. 


    Inflation, superannuation and world events all factor into why it’s costing you more to do business than it did 6-12 months ago. I explain why your business profit might actually end up going backward this financial year if you don’t increase your prices. 


    Price increase conversations are never easy but I hope this episode helps you become clear on why your prices need to increase. Being profitable means knowing your numbers and knowing when to increase prices to cover your expenses.



    LINKS: 


    Where to Find Bec:


    Check out my course Bookkeeping it Real here! 


    Website: https://straightupbookkeeping.com.au/ Instagram: @straightup_bookkeepingFacebook: @straightupbookkeepingLinkedIn: @straight-up-bookkeeping

    • 11 min

Customer Reviews

5.0 out of 5
17 Ratings

17 Ratings

NathP123445 ,

Great Podcast

Hey. I just listened to the last 26 episodes in less than a week. I think your podcast is great. Direct and to the point. Keep up the great work!

Bella Vie Interiors ,

Bookkeeping made easy

Bookkeeping is perhaps one of my least favourite parts of running a business. Bec makes it easy to understand and bite-size episodes means I can listen in my car on the way to meetings or on the school run.

Jordan Sprigg ,

Easy listen

Short and sweet and to the point. Love it Bec!

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