Starting, Building and Exiting Your Business [Video]

In this conversation, Ben Amos interviews Jodie Thompson from Mulcahy and Co Accountants. They discuss various topics related to business growth and development, including the importance of planning, the challenges faced in different stages of business, the role of accountants and bookkeepers, and the options for succession planning and exit strategies. Jodie emphasises the need for business owners to have a clear vision of their goals and to regularly review and adjust their plans. She also highlights the importance of holistic financial management and the role of accountants in helping clients achieve their lifestyle goals.

Takeaways
– Having a clear vision of your goals and regularly reviewing and adjusting your plans is crucial for business growth and development.
– Accountants play a key role in providing guidance, accountability, and advice to business owners.
– Bookkeepers handle data entry and record-keeping, while accountants provide analysis, reporting, and strategic advice.
– Succession planning and exit strategies should be considered at various stages of the business life cycle.
– A successful ending of a business can involve closure or liquidation, and it is important to plan for the financial and legal implications.
– Business owners should ask their accountants about how to achieve their financial goals and what steps to take to ensure the business can run without them.
– Holistic financial management, including accounting, finance, and legal aspects, is essential for business success.
– Mulcahy and Co Accountants offer a range of services to help businesses achieve their financial goals, including financial planning and loan broking.

Chapters
00:00 – Introduction and the Importance of Planning
06:11 – The Role of Accountants and Bookkeepers
14:45 – Succession Planning and Exit Strategies
22:23 – Holistic Financial Management for Business Success
25:44 – Services Offered by Mulcahy and Co Accountants

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