" In this episode, Brad sits down with a former JP Morgan analyst who traded the corporate world for helping small business owners master their finances. From seven years in investment banking to building a consultancy focused on SMEs, this conversation unpacks the most dangerous financial mistakes entrepreneurs make and why so many are unknowingly spending money that isn't theirs. Discover why tracking your numbers isn't optional, how to avoid the VAT trap that nearly cost Brad £95,000, and the simple system that prevents cash flow crises before they happen. This is a masterclass in financial clarity for business owners who are experts at their craft but struggle to make sense of the numbers behind the scenes. KEY TAKEAWAYS Stop Making Decisions Based on Your Bank Balance: The biggest mistake business owners make is treating their bank account as a reliable indicator of financial health. Without tracking cash flow, upcoming liabilities, and forecasting, you're flying blind and setting yourself up for nasty surprises when tax bills arrive. VAT and Corporation Tax Are Not Your Money: Too many entrepreneurs treat VAT collected from clients as available cash. The moment it hits your account, it should be moved into a separate holding account. You're a tax collector for HMRC, not the owner of that money. Financial Statements Weren't Built for You: Balance sheets, P&Ls, and cash flow statements were designed by accountants for accountants. If you're not from a finance background, it's no wonder you find them confusing. The key is translating jargon into simple, actionable insight. Forecast Beyond This Month: Business owners often only look at what's already happened. Smart operators forecast at least a few months ahead, so they can make proactive decisions instead of reactive ones. Anything beyond a few months is educated guesswork, but short term forecasting is essential. Becoming a Business Owner Means Learning New Skills: Whether you're a builder, dentist, or finance expert, starting a business forces you to learn sales, marketing, operations, and more. Expertise in your trade doesn't automatically translate to business success without mastering the fundamentals. BEST MOMENTS "It's very easy to get into the trap of making decisions based on how much money is in the bank account... and then you spend the money you owe to HMRC, and then you're in a cash flow crisis a few months later." "The cash that we collect from clients in VAT and corporation tax was never really our money in the first place. We're just tax collectors for the government." "Financial statements were designed by accountants for accountants. No wonder it's easier to just look at your bank account." "If you spend that VAT now to fund your operations, you're going to have to find that again by September. It's a very slippery slope once you start doing that." "Business owners are experts at what they do, but they weren't on top of their numbers in a way I took for granted because of my background in finance." HOST BIO Brad Staines is a founder in the thick of it, but by design, not by default. As the face of Aquamark Cleaning, he's built a multi-million-pound operation with 30+ team members, strong systems, and a culture that gives people space to grow. He's still involved in the business a couple of days a week, but only doing the parts he genuinely enjoys: building relationships, growing the brand, spending time with the team, and spotting new opportunities. The day-to-day grind? That's been handed over to a structure that runs without constant firefighting. Brad's also found his rhythm outside of business, with a deep commitment to physical and mental training. Whether it's strength work, early morning runs, or cold plunges, he's a believer that how you show up for yourself shapes how you show up as a leader. Working On It is where he brings it all together: growth, grit, and getting better every week. "
