The Holistic Accountant
A holistic accountant goes beyond tax returns, aiming to offer proactive advice to maximise clients' wealth after all taxes. Stuart Wemyss and Mena Abraham explore multifaceted considerations weekly, highlighting the need for a holistic approach. Each episode is succinct and to the point with no fluff or sales pitches. For further details, check out www.prosolution.com.au.
The Holistic Accountant
Ep 164: Financial Mistakes Entrepreneurs Make in Their First Three Years
In the early years of running a business, most financial mistakes aren’t dramatic; they’re subtle, common, and quietly destructive. And by the time many entrepreneurs realise something is wrong, the damage is already done.
In this episode, Stuart and Mena break down the most common financial mistakes entrepreneurs make in their first three years and, more importantly, how a CFO would approach them differently.
We cover why mixing personal and business money creates blind spots, why profit does not equal cash, and how underpricing can quietly turn a business into an exhausting hobby. We also unpack the risks of unplanned debt, ignoring tax obligations, and trying to do everything yourself instead of building systems early.
You’ll learn how CFO-style business owners think about cash flow forecasting, pricing, debt, delegation, and financial targets, and why understanding your numbers is not optional if you want sustainable growth. We also explore when and why business structure matters, and how early decisions can either limit or accelerate long-term wealth creation.
If you’re in your first few years of business or planning to start, this episode will help you avoid the mistakes that derail otherwise great ideas, and replace guesswork with clarity, discipline, and control.
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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.
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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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