
QFF: Nathan McGrath, Founder of Outside The Square Accounting, Shares How He Left 20 Years in Corporate to Launch His Own Firm, Empowering SMEs with Clarity, Automating Finances and a No-Judgment Approach to Business Advice. (Episode 661 - Nathan McGrath)
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. Do you have 2 minutes every Friday? Sign up to the Weekly Leadership Email. It's free and we can help you to maximize your time. Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their 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
From "Grow A Small Business Podcast"
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