What happens when business dreams collide with poor planning and the wrong advice? In this powerful episode of Your Director’s Advocate, James Flaherty and Cheryl Stainsby continue the conversation with Brisbane lawyer Bruce Pasetti to uncover why so many partnerships end in bitterness, costly disputes, and broken companies. From shareholder fallouts that mirror messy divorces to small “mum and dad” businesses incurring $100,000 in legal fees, Bruce explains why shareholder agreements are like a prenup for your business - painful to discuss upfront, but essential when things go wrong. The trio expose the dangers of “barbecue advice,” the risks of relying on the wrong lawyer, and why seeking expert guidance early can save you from financial ruin. Packed with real-life stories, legal insights, and practical takeaways, this episode is your must-listen guide to protecting your business, your relationships, and your future.

In this episode of Your Director’s Advocate, James Flaherty and Cheryl Stainsby sit down with Bruce Pasetti, Principal at Stratos Legal, to unpack the traps directors fall into when things go wrong—and why blaming the bookkeeper, accountant, or anyone else won’t hold up when the law comes calling. Bruce brings sharp legal insights into where responsibility truly lies, what directors must do to protect themselves, and the red flags that often go unnoticed until it’s too late. Together, the trio explore real-world scenarios where directors tried to shift blame, the dangers of bad advice, and the critical importance of acting early with the right support. Packed with practical warnings and empowering advice, this episode is a must-listen for company directors, advisors, and anyone navigating business challenges. Don’t miss it; learn how to avoid the blame game before it starts.

In this episode of Your Director’s Advocate, James Flaherty and Cheryl Stainsby sit down with Tammy Haug, General Manager of eCarz Finance, to expose a growing crisis in the business world—high-risk “last chance” loans that quietly destroy companies and personal assets. Tammy explains how easy it is for directors under pressure to click through late-night ads, sign complex contracts, and stack multiple short-term loans—only to wake up months later with crippling daily repayments, caveats on their homes, and every company in their group cross-collateralised. Together, Cheryl and Tammy unpack why embarrassment, pride, and a lack of advice often push directors toward these lenders, and how even well-designed asset protection structures can be undone with a single signature. Packed with real-world stories and urgent warnings, this episode is a must-listen for any director tempted by “quick cash” solutions. Before you scroll and click, press play and get the facts.

In this episode of Your Director’s Advocate, James Flaherty and Cheryl Stainsby sit down with Damien Davis of Robson Cotter Insolvency Group to unpack one of the most common traps directors fall into when the pressure’s on—the blame game. From shifting responsibility onto accountants, bookkeepers, or third parties, Damien explains why excuses don’t erase statutory duties and how silence or delay can turn small problems into catastrophic ones. Listeners get a behind-the-scenes look at day-one letters, asset transfers, and ATO data-matching that can put directors under the microscope. More importantly, Damien shares why early, honest engagement with trusted professionals not only protects your reputation and reduces creditor hostility, but also safeguards your wellbeing during the toughest times. Full of real-world examples, clear insights, and actionable strategies, this episode is essential listening for any director—or advisor—looking to replace denial with preparation and navigate financial challenges head-on.

In this powerful episode of Your Director’s Advocate, James Flaherty and Cheryl Stainsby pull back the curtain on the risky world of loan stacking—and the devastating traps many business owners unknowingly fall into. From slick FinTech ads to non-conforming lenders promising quick fixes, Cheryl explains how short-term, high-interest loans can spiral out of control when piled one on top of another. You’ll hear shocking real-world cases, including a $90,000 bridge loan that doubled to $180,000, and directors juggling millions across multiple stacked facilities. More importantly, Cheryl shares practical steps every business owner should take—reading the fine print, setting aside funds for legal advice, and building a clear exit strategy before signing anything. Whether you’re facing financial strain or simply want to protect your business from future risk, this episode delivers the knowledge and confidence you need to make smarter decisions. A must-listen for any director navigating today’s lending minefield.

In this episode of Your Director’s Advocate, James Flaherty and Cheryl Stainsby welcome back bookkeeper Kirsten Carter from Mello Bookkeeping to tackle one of the most common headaches for small businesses: director loans. Why do they happen so often, and why do they create such massive problems down the track? From directors accidentally using company funds for personal expenses to ignoring their bookkeeper’s emails, this conversation dives into how simple oversights can snowball into tax liabilities, cash shortages, and compliance issues. Kirsten shares first-hand insights into how bookkeepers handle missing receipts, misclassified expenses, and cash flow mismanagement—and why communication is the key to avoiding disaster. If you’re a director who’s ever “borrowed” from your business without thinking about the consequences, this episode is a must-listen. Packed with practical advice, real-world examples, and candid humour, it’s your roadmap to keeping your business—and your cash flow—on track.

In this insightful episode of Your Director’s Advocate, James Flaherty and Cheryl Stainsby sit down with bookkeeper Kirsten Carter to unpack one of the most common frustrations in business—the blame game. Why do business owners so often point the finger at their accountant or bookkeeper when things go wrong? Kirsten sheds light on the challenges faced by bookkeepers, from inconsistent communication and missing documents to delayed payments and resistance to technology. With real stories and practical examples, the discussion highlights how avoiding responsibility can derail compliance, delay restructures, and even cost businesses thousands in penalties. Most importantly, listeners learn why valuing professional services—and working with them, not against them—is essential for long-term success. Whether you’re a director, business owner, or advisor, this episode will change the way you see the role of bookkeepers and inspire you to rethink the importance of communication, collaboration, and accountability.

Join us for the second episode featuring our special guest, Duncan Perkins, from Tax Time! This insightful discussion dives deep into the complexities of Division 7A loans (what are those!?) and directors' loans, offering valuable advice for business owners and their advisors. Key Points:

1. Understanding Division 7A: Duncan explains the basics of Division 7A and its implications for directors' loans.
2. Common Pitfalls: Learn about the frequent mistakes business owners make with directors' loans and how to avoid them.
3. Tax Implications: Discover the tax consequences of mismanaging company funds and how to stay compliant.
4. Practical Advice: Get actionable tips on managing company finances effectively.
5. Real-Life Examples: Hear real stories of businesses navigating these challenges and the lessons learned.

Don't miss out on this entertaining and informative discussion. Tune in and encourage those in your network to listen in.

In the third ep of the YDA Podcast, hosts Cheryl Stainsby and James Flaherty are joined by Duncan Perkins from TaxTime to discuss some pressing issues faced by business owners.

In "None So Blind," the get deep into the common pitfalls and challenges that entrepreneurs encounter, especially when they fail to heed professional advice. Key Issues Discussed:

• Blame Game: Business owners often look for someone to blame when things go wrong, whether it's their accountant, bookkeeper, or even external circumstances.
• Undercapitalization: Many entrepreneurs start their ventures without adequate resources, not just financially but also in terms of human resources and industry knowledge.
• Ignoring Advice: A recurring theme is the reluctance of business owners to listen to their advisors, leading to repeated mistakes and missed opportunities.
• Franchise Pitfalls: The episode also touches on the challenges of buying into franchises and the unrealistic expectations set by franchisors.

So why Tune In? Business owners (and their advisors) will find this episode particularly insightful as it highlights the importance of listening to professional advice and being adequately prepared before diving into new ventures. Cheryl, James, and Duncan provide valuable perspectives and practical advice that can help avoid common mistakes and set businesses on the path to success. Don't miss out on this engaging and informative discussion! 

So let's start with who gets the blame when the business goes bust. All too often, people are quick to blame others. Who gets the grief? And who should?

Cheryl’s doing this series to reach out to small business owners who are currently facing challenges, especially having survived covid and its impact on various industries like construction, hospitality and retail. We've seen many failures, price increases, and interest rate hikes.  Cheryl will share her extensive experience in dealing with similar stories of directors and business models that often fail, as well as those that succeed.