Apr 24, 2025
QFF: Quick Fire Friday – Your 20-Minute Growth Powerhouse!
Welcome to Quick Fire Friday, the Grow A Small Business podcast series that is designed to deliver simple, focused and actionable insights and key takeaways in less than 20 minutes a week.
Every Friday, we bring you business owners and experts who share their top strategies for growing yourself, your team and your small business. Get ready for a dose of inspiration, one action you can implement and quotable quotes that will stick with you long after the episode ends!
In this episode of Quick Fire Friday, host Amanda
Jones interviews Nathan
McGrath, founder of Outside The Square
Accounting, Nathan shares his experience as a small
business owner and highlights the importance of anticipating future
needs and automating finances for success. He advises businesses to
seek the right advice early and focus on forward planning rather
than dwelling on past issues. McGrath also touches upon key
financial documents like the balance sheet and forecast, and the
value of open communication with an accountant without fear of
judgement.
Key Takeaways for Small Business Owners:
Don’t Delay, Get Advice Early: Successful
businesses seek the right advice before making decisions—not after.
Engage your accountant early to help you anticipate challenges and
opportunities.
Automate Your Finances: Save time and reduce errors by automating financial reporting and processes. Let important insights land in your inbox without lifting a finger.
Know Your Numbers Weekly: Spend at
least 15 minutes a week reviewing your financials—especially
actuals vs. forecasts. This keeps you aligned and helps you catch
issues before they escalate.
Our hero crafts outstanding reviews following the experience of
listening to our special guests. Are you the one we've been waiting
for?
Financial Documents That Matter: Focus on the balance sheet (your GPS), a forecast (your roadmap), and track ATO and super obligations. These provide clarity and prevent future surprises.
Your Financial Data is Just Facts – No Shame: Don’t fear judgment over debt or messy records. A great accountant sees these as facts to work with—not flaws to criticize. The goal is solutions, not shame.
Use Tools That Talk to Each Other: When choosing software, ensure it integrates well with your existing systems. Time-saving connections—like syncing customer info across tools—can be game-changers.
One action small business owners can
take:
One action small business owners can take, according to Nathan
McGrath, is to start forecasting now. Rather than only reflecting
on past performance, looking ahead with a simple financial forecast
helps anticipate tax obligations, manage cash flow, and make
smarter business decisions with confidence.
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business growth journey. 👇
Quotable quotes from our special Grow A Small Business podcast guest:
The best business moves come from understanding your
financial forecast – Nathan McGrath
Your numbers aren’t scary—they’re just facts that guide better
decisions – Nathan McGrath
Automation is the accountant’s shortcut to smarter business –
Nathan McGrath