Running a business in Australia and feeling out of your depth when it comes to finances? You’re not alone. In this episode of Two Blokes One Business, we sit down with Mitch Calley from Wakefield Pacific Accounting & Business Advisory. Mitch is a top-tier accountant helping small businesses scale with smart financial strategy.This episode is packed with real-world business finance tips and opinions for founders, entrepreneurs, and directors. Whether you're struggling with cash flow, confused about business structures, or finally making enough to consider tax planning - this conversation could save you serious money and headaches.You’ll learn:✅When and how to switch from sole trader to company or trust✅The real reason most profitable businesses still run out of cash✅How to use a self-managed super fund (SMSF) to invest in your business✅Key financial reports every founder must understand✅How to protect your personal assets as a business owner✅When to hire vs. do it yourself (from bookkeeping to tax planning)✅Smart strategies for paying yourself and managing tax like a proThis is a deep dive into the financial foundations that separate successful founders from stressed ones. Key Points00:04:20 Sweet spot clients and service levels00:06:40 High earner tax strategies for employees00:09:00 Self-managed super fund 00:14:00 Employee to business owner mindset shift00:19:20 Research before starting your business00:24:40 Business structures 10100:30:20 Cash flow management 00:36:20 Industry-specific metrics00:43:40 When to outsource vs DIY approach00:54:20 How and when to pay yourself01:01:00 Common accounting myths debunkedIf you're in business, making money, and want to scale profitably and sustainably, this episode is for you.-Connect with Mitch Calley:Whether you're a start-up or industry titan looking to scale - Mitch and the team at Wakefield Pacific can help you navigate and conquer your business landscape.https://www.instagram.com/wakefieldpacific/ https://www.facebook.com/wakefieldpacific/ https://www.linkedin.com/company/wakefield-pacific-accounting-business-advisory https://www.wakpac.au/-*Disclaimer* The information in this episode is general in nature and does not constitute personal financial, legal, or tax advice. Always consult with a qualified professional to assess your individual circumstances and goals before making any financial decisions. - 👉Connect with ushttps://www.instagram.com/twoblokesonebusinesshttps://www.linkedin.com/company/two-blokes-one-business-podcast-Adam Powell & Harvey Rivers are the founders of HARWELL. HARWELL. are renowned in the recruiting space - specialising in finding top talent within the Construction, Accountancy & Finance & Labour Hire sectors. Along with eCommerce.Their award-winning concierge approach is helping companies attract exceptional talent to their team.👉Want help finding exceptional talent for your business? Get in touch with Adam, Harvey, and the team at HARWELL. https://www.harwellconsulting.com.au/

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