Fat Kitty Fund

Jess Mujkic

Welcome to The Fat Kitty Fund, the podcast dedicated to helping small business owners make sense of their finances, fuel their growth, and find balance along the way. Hosted by Jess, your friendly financial sidekick, each episode dives into practical strategies, real-life stories, and the latest tools designed to simplify business finances and empower owners like you. Whether you're navigating cash flow challenges, exploring ways to grow, or simply seeking to reclaim some work-life balance, The Fat Kitty Fund is here to provide clear, actionable advice with a friendly, no-nonsense approach. Tune in to learn, get inspired, and take the next steps toward building a thriving business that supports the life you want.

Episodes

  1. How To Unlock Xero's Full Potential And Smash Your Goals

    01/19/2025

    How To Unlock Xero's Full Potential And Smash Your Goals

    Episode Overview:Are you using Xero to its full potential, or are you just scratching the surface? In this episode of The Fat Kitty Fund, we dive into the hidden gems and game-changing features of Xero that can help you streamline your bookkeeping, gain clearer financial insights, and achieve your business goals faster. From automated workflows to advanced reporting tools, we’ll show you how to harness Xero’s capabilities and take your business finances to the next level. What You’ll Learn in This Episode: How to set up Xero correctly for your business. Key features you might not be using, like bank rules, templates, and projects. Integrations and add-ons that can boost productivity and save time. Practical tips for creating a financial dashboard that works for you. Why This Episode is a Must-Listen:Xero isn’t just software—it’s a tool that, when used effectively, can save you hours, reduce errors, and empower you to make smarter financial decisions. Whether you’re a Xero newbie or a seasoned user, you’re bound to discover tips that will make managing your business easier and more efficient. Links & Resources Mentioned: Xero’s App Marketplace Xero Beginners Guide Let’s Connect! Share your favorite Xero tips with me on socials @theluxeadvisory or book in your free discovery call with Luxe Advisory. If you enjoyed this episode, don’t forget to subscribe, leave a review, and share it with other Xero enthusiasts! Your Financial Sidekick,Jess

    8 min
  2. Managing Your GST and BAS Without the Stress

    01/12/2025

    Managing Your GST and BAS Without the Stress

    Feeling overwhelmed by GST and BAS requirements? You’re not alone! In this episode of The Fat Kitty Fund, we’re tackling one of the most daunting parts of running a small business: managing GST and lodging your BAS. But don’t stress—we’ve got your back with simple tips, expert insights, and tools to make it all manageable. We’ll break it all down, from understanding what GST and BAS actually are, to when and how to lodge, and even some game-changing strategies to avoid last-minute panic. Whether you’re new to business or looking to streamline your processes, this episode will leave you feeling empowered and prepared. What You’ll Learn in This Episode: The basics: What GST and BAS are and why they matter. Common GST misconceptions and mistakes to avoid. Simple tips to organise your records and stay compliant. Tools and software that make GST and BAS management a breeze. How to plan ahead to avoid penalties and make BAS time stress-free. Why This Episode is a Must-Listen: GST and BAS compliance are essential for every Australian small business, but they don’t have to cause sleepless nights! Tune in to learn how to simplify the process, save time, and keep your business finances in order. Links & Resources Mentioned: Check out the ATO’s BAS and GST Resources for more details. Tools we love: Xero, QuickBooks, and MYOB. Let’s Connect! Have questions about GST or BAS? Let’s chat! Book your FREE 15 min call now!  Don’t forget to download my free [GST and BAS checklist] to stay organised year-round (link below). Your Financial Sidekick, Jess

    10 min
  3. Drowning In Debt: Secrets To Managing Debt

    01/05/2025

    Drowning In Debt: Secrets To Managing Debt

    Episode Overview:Debt can be a double-edged sword—helpful when managed well, but overwhelming when it spirals out of control. In this episode of The Fat Kitty Fund, we’re diving deep into the world of business debt. Whether you’re dealing with mounting bills or considering taking on new loans, this episode is packed with strategies to help you regain control, make informed decisions, and use debt as a tool for growth. If debt feels like a weight dragging your business down, this episode offers actionable advice to help you rise above it and move toward financial freedom. What You’ll Learn in This Episode: The different types of debt and how they impact your business. How to assess your current debt situation and prioritise repayments. Strategies to negotiate with creditors and reduce debt stress. Smart ways to leverage “good debt” for growth opportunities. Tools and systems to keep your debt under control moving forward. Why This Episode is a Must-Listen:Debt is one of the biggest challenges small business owners face, but it doesn’t have to be a dealbreaker. With the right strategies, you can take charge of your finances, reduce stress, and create a solid plan for managing debt in a way that works for your business goals. Links & Resources Mentioned: Check out ASIC’s MoneySmart Business Debt Resources for budgeting and debt tools. Learn about debt consolidation options and solutions at National Debt Helpline. Let’s Connect! Need support managing your business debt? Book your free 15 min discovery call or connect with me on socials @theluxeadvisory. Don’t forget to subscribe, share this episode, and leave a review! It helps more small business owners like you find The Fat Kitty Fund. Your Financial Sidekick,Jess

    9 min
  4. Payroll Pitfalls: Avoiding Errors that could cost you

    12/15/2024

    Payroll Pitfalls: Avoiding Errors that could cost you

    Episode Overview:Payroll errors can be costly—not just for your bottom line, but also for employee morale and your business's reputation. In this episode of The Fat Kitty Fund, we’re unpacking the most common payroll mistakes that small business owners make and sharing actionable tips to help you avoid them. From understanding compliance requirements to streamlining payroll processes, this episode equips you with the tools and knowledge to ensure your payroll runs smoothly, accurately, and stress-free. What You’ll Learn in This Episode: The most common payroll mistakes and how they happen. Key compliance rules every business owner needs to know. Practical tips for managing payroll systems and staying organised. How to handle payroll disputes or errors professionally. Tools and software recommendations to simplify payroll processing. Why This Episode is a Must-Listen:Payroll isn’t just about paying employees—it’s about building trust and ensuring your business operates within the law. By addressing these pitfalls, you can save time, money, and headaches while creating a positive experience for your team. Links & Resources Mentioned: Explore payroll software options like Xero Payroll, MYOB, or QuickBooks. Access the Fair Work Ombudsman’s resources: https://smallbusiness.fairwork.gov.au/small-business-checklist  Bussiness.gov.au Hiring Employee Checklist The P.A.C.T FairWorks Pay Calculator  Find my award - Award Finder  Let’s Connect! Have payroll questions? Reach out @theluxeadvisory or book in your free 15 min discovery call  If you found this episode helpful, please subscribe, leave a review, and share it with other small business owners! Your Financial Sidekick,Jess

    12 min
  5. Navigating Tax Season: BAS, Deductions , and compliance simplified

    12/07/2024

    Navigating Tax Season: BAS, Deductions , and compliance simplified

    Episode Overview:Tax season doesn’t have to be stressful! In this episode of The Fat Kitty Fund, we’re diving deep into the essentials of navigating BAS, deductions, and overall tax compliance. Whether you’re new to tax season or a seasoned pro, this episode will give you practical tips to stay on top of your obligations and maximise your deductions. Join me as I break down what you need to know to handle tax season like a pro, without the headaches. What You’ll Learn in This Episode: BAS Made Simple: Understand what BAS (Business Activity Statement) is and why it’s critical for your business. Deductions Demystified: Learn what deductions you might be eligible for and how to maximise your tax savings. Tax Compliance Tips: Simple, actionable steps to stay compliant and avoid common mistakes. Time-Saving Tools: Tools and strategies to streamline your tax process and ensure you’re always prepared for tax time. Why This Episode is a Must-Listen:Tax season is a critical time for small business owners, but it doesn’t have to be overwhelming. By understanding BAS, deductions, and compliance, you’ll save time, money, and stress. In this episode, I simplify everything you need to know to handle tax season with confidence and make sure your business stays on the right side of the ATO. Links & Resources Mentioned: BAS explained: https://www.ato.gov.au/businesses-and-organisations/preparing-lodging-and-paying/business-activity-statements-bas  Let’s Connect! Have any questions or tips about tax season? Reach out to me on @theluxeadvsiory or book your free 15 min discovery call today  If you found this episode valuable, I’d love for you to leave a review and share it with others who could benefit! Your Financial Sidekick,Jess

    9 min
  6. Tech Tools for Business Productivity

    12/03/2024

    Tech Tools for Business Productivity

    Episode Overview:In today’s fast-paced business world, staying productive is key to success. In this episode of The Fat Kitty Fund, I’m diving into the world of tech tools that can help streamline your processes, automate your tasks, and boost your productivity. From project management to accounting, the right tools can make all the difference for small businesses looking to work smarter, not harder. Tune in to learn how to harness technology to optimise your daily operations and make your business run like a well-oiled machine. What You’ll Learn in This Episode: Essential Tech Tools for Business: A breakdown of the must-have tools for small businesses, including project management, time tracking, and accounting software. Automating Tasks: How automation can save you time and reduce the risk of human error. Choosing the Right Tools for Your Business: Key factors to consider when selecting software or apps that fit your unique needs. Integrating Your Tools: How to integrate your tech stack for seamless workflows and better data management. Why This Episode is a Must-Listen:Tech tools are more than just a trend—they’re a game changer for productivity. In this episode, you’ll learn how to use the best tech tools to help you save time, increase efficiency, and stay organised. Whether you’re managing clients, tracking finances, or automating your marketing, I’ve got the tools and tips to help you take your business to the next level. Links & Resources Mentioned: Recommended tools for small businesses: Trello, Asana and Click-up  Free trial offers for top productivity tools: Click - up 10% off! Book a free consultation to discuss productivity strategies: Free15 min Discovery Call  Let’s Connect! Want to share your favourite business productivity tools? Connect with me on @theluxeadvisory. If you found this episode helpful, don’t forget to leave a review and share it with a fellow business owner who could benefit from it! Your Financial Sidekick,Jess

    13 min
  7. More Profits, Financial Metrics: Beyond The Profit And Loss Statement

    11/17/2024

    More Profits, Financial Metrics: Beyond The Profit And Loss Statement

    Is your business’s financial health as strong as you think?Your profit and loss statement might show the numbers, but it doesn’t always tell the whole story about your business’s health. In this episode of The Fat Kitty Fund, we’re diving into the world of financial metrics—the key indicators that go beyond revenue and expenses to reveal the true performance of your business. If you’ve ever wondered how to make sense of terms like “gross profit margin” or “current ratio,” this episode is for you. We’ll uncover why these metrics matter, how to calculate them, and how they can help you make smarter, more profitable decisions. What You’ll Learn in This Episode: What financial metrics are and why they’re essential for business success. Key metrics every small business owner should monitor. Simple, actionable steps to calculate and track these metrics. How to use financial insights to set goals and improve profitability. Ways to benchmark your metrics against industry standards using ATO tools. Why This Episode is a Must-Listen:Understanding your financial metrics can give you clarity, confidence, and control over your business’s future. This episode offers practical advice to help you move beyond just looking at profit and loss and start mastering the numbers that really matter. Links & Resources Mentioned: Download your free Financial Metrics Cheat Sheet to easily calculate and track key metrics. Compare your metrics with industry standards using the ATO’s benchmarking tool. Recommended tools: Xero, QuickBooks, and MYOB. Let’s Connect! Have a financial metric you’re stuck on? Book your free 15 min discovery call today  Don’t forget to subscribe and leave a review to keep The Fat Kitty Fund growing! Your Financial Sidekick,Jess

    9 min
  8. 03/30/2024

    EP3 Choosing the right business structure

    In this episode, Jess discusses the importance of choosing the right business structure and its impact on various aspects of a business. The main business structures covered are sole trader, partnership, and company. Jess explains the advantages and disadvantages of each structure, including liability protection, tax implications, management and control, credibility and perceived stability, scalability and growth potential. The episode concludes by mentioning other business structures such as trust, cooperative, and association, and encourages listeners to seek professional advice when deciding on the most suitable structure for their business. Takeaways Choosing the right business structure is crucial as it determines liability protection, tax implications, management and control, credibility, scalability, and growth potential. The main business structures are sole trader, partnership, and company, each with its own advantages and disadvantages. Sole trader structure offers simplicity, control, and flexibility, but comes with unlimited personal liability and limitations on resources. Partnership structure allows for shared responsibility, complementary skills, and access to more resources, but also has unlimited personal liability and potential for conflicts. Company structure provides limited liability, access to capital, and enhanced credibility, but is complex, subject to more regulations, and may result in double taxation. Other business structures such as trust, cooperative, and association exist, but require professional advice due to their complexity. Chapters 00:00 Introduction and Importance of Choosing the Right Business Structure01:29 Factors Affected by Business Structure03:23 Management and Control03:53 Credibility and Perceived Stability04:23 Scalability and Growth Potential04:52 Sole Trader Structure05:21 Advantages of Sole Trader Structure06:18 Disadvantages of Sole Trader Structure10:05 Partnership Structure10:33 Advantages of Partnership Structure11:31 Disadvantages of Partnership Structure17:35 Advantages of Company Structure19:22 Disadvantages of Company Structure22:48 Other Business Structures23:44 Conclusion

    25 min

About

Welcome to The Fat Kitty Fund, the podcast dedicated to helping small business owners make sense of their finances, fuel their growth, and find balance along the way. Hosted by Jess, your friendly financial sidekick, each episode dives into practical strategies, real-life stories, and the latest tools designed to simplify business finances and empower owners like you. Whether you're navigating cash flow challenges, exploring ways to grow, or simply seeking to reclaim some work-life balance, The Fat Kitty Fund is here to provide clear, actionable advice with a friendly, no-nonsense approach. Tune in to learn, get inspired, and take the next steps toward building a thriving business that supports the life you want.