From The Trenches

Best on Ground

David

• Ignore the tech, focus on your business model first: https://hbr.org/2018/12/digital-growth-depends-more-on-business-models-than-technology?utm_source=twitter&utm_campaign=hbr&utm_medium=social

• Best use of management and cost accounting - Hollywood style: https://www.instagram.com/p/BvSsQzZh_rZ/?utm_source=ig_share_sheet&igshid=8w8o9yuh43pi

Paul:

• The profitability of Deliveroo. More great work by Jason Andrew: https://sbo.financial/should-my-restaurant-offer-ubereats/

• Paul’s old mate Gary V - “I’m scared for all the companies these days that are raising money … Many startups today aren’t actual businesses, they’re “financial arbitrage machines” built with the goal of raising the next round of financing.
  
  And what will happen when all that money dries up (like it eventually will)?
  
  We need to collectively begin celebrating that are actually making money over companies that are just "fundraising ' - really hope we start having this conversation more in the tech community.”

  We need more honesty in startups: https://www.linkedin.com/feed/update/urn:li:activity:6513433435393060864

Worst on Ground

• A marketing company preaching the need to be personal but not walking the talk: https://bomamarketing.com/2018/05/08/modern-business-owners-want-an-accountant-who-goes-beyond-the-numbers/amp/#click=https://t.co/oXboXlusiX

• Advice from a ‘’leader’’ in the industry is to drop prices to compete. Bad advice: https://www.autoentry.com/blog/how-to-compete-with-a-200-a-month-bookkeeping-service

• David Ixnay on the Swear Words - Mark Bouris’ millennial appeasing makeover doesn’t need profanity: https://www.linkedin.com/feed/update/urn:li:ugcPost:6514440049436745728/

In-depth

Celebrating 100 shows David and Paul discuss why they do this, Where to from here and what you can do to better our industry.

They also go off on 100 tangents.

100th show in 2 years

Why we still do what we do?

Paul - Support the industry, add a realistic/practical voice for the industry in a sea of marketing

Our challenges over the 2 years.

• Time - PM 2 days per week, plus travel to conferences, plus arranging interviews

• Sponsors (Acast)

• Events

Where to now

• Paul

  • Connect more with listeners. Want to include the voice of the people

  • Want to hear more about the UK and the US

• David

  • We so proud of what people have done based on the show

  • Now it’s time to stop talking and start leading

  • We want you to act on what we say

  • We want you to lead

  • What’s changed in two years? 2 years ago was awareness. I think that at least IPA and CA have listened and i think we need to start engaging and working with the industry.

See omnystudio.com/listener for privacy information.

This week, David is coming straight to you from Accounting Business Expo. He's joined by the biggest and brightest leaders propelling our industry forward for an epic panel discussion.

We are joined by:

Andrew Van De Beek - 2018 Thought Leader of the Year

Lielette Calleja - 2017 Au Firm of the Future Winner and AAT Director

Heather Smith - Literally wrote the book on Xero, Cloud App master mentor and cloud newsletter author

Steph Hinds - One of the first 100% cloud accountants who rivals Paul Meissner for strait talking 

Ron Lesh - The founder of BGL, the tech company who has survived more change than most (and shares amazing insight as an exhibitor at ABE) 

And a special cameo appearance by Sam Rotberg - a recent social media superstar (listen to find out more)

NOTE: Paul couldn't get to Accounting Business Expo but don't worry, he comes up often in this episode!

About Us

From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL. 

See omnystudio.com/listener for privacy information.

Water Cooler Lunch Series

Request your seat to join David and Judo at one of our Melbourne lunches and learn about expanding your network of professionals to include CFO advisers (yes, Sequel CFO works with accountants) and new bank lenders. 

Interview with Joseph Healy

With so much attention on the banking sector both David and Paul are sure that new entrants are going to have an impact. One such entrant is Judo Capital who is going to be able to compete at similar debt pricing to traditional SME lending banks. 

David tracked down Judo Capital's co-founder and joint CEO Joseph Healy for a wide ranging interview. 

The highlight of course, is his envy that bankers don't have the trusted relationship us accountants have with clients.

About Us

From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL. 

See omnystudio.com/listener for privacy information.

Best on Ground 

Worst on Ground 

Indepth: You don't HAVE to do advisory.

Something grinds our gears. And that something is:    Generic conversations about accountants having to do advisory, from people who've never done it.    It comes from this idea that because advanced use of technology means that it takes a lower amount of time to do traditional compliance work. It stems from a line Xero used to tout, 'Compliance is dead, you have to do advisory'.    What's wrong with the way advisory is being spoken about?  

About Us

From the Trenches is brought to you by Paul Meissner from Freedom Mentoring and David Boyar from Sequel CFO. Proudly sponsored by BGL. 

See omnystudio.com/listener for privacy information.

Thanks to MYOB, David got to sit down with some awesome accountants who have kept their firms on MYOB amidst rapid industry change. Their stories are compelling and enthusiastic! 

We speak with:

See omnystudio.com/listener for privacy information.

Best on Ground

Worst on Ground

ATO has put its hand up and enforced the super amnesty despite its botched process into legislation:https://www.theage.com.au/business/workplace/ato-set-to-waive-unpaid-superannuation-penalties-in-wake-of-botched-amnesty-20190305-p511yn.html

Indepth: ATO Scandal Part 3

Following the ATO’s scandal last year a parliamentary committee has made 37 recommendations for changes into the ATO handling of disputes.

See linked episodes:

The recommendations have some good and some bad, so in true FTT style, David and Paul try to work out which ones will work and which won't.

Check our our interview with Debt Commissioner Robert Ravanello here.

You can check the full list of recommendations here.

https://www.aph.gov.au/Parliamentary_Business/Committees/House/Tax_and_Revenue/2016-17AnnualReport/Report/section?id=committees/reportrep/024240/26793&_lrsc=396f93d4-9f23-423f-8f1e-61c0bcc004de&trk=elevate_li

See omnystudio.com/listener for privacy information.