WEBVTT - Please Spend Your Money On These Things 0:00:04.160 --> 0:00:07.000 Hi, I'm Britney Saunders and welcome to Big Business, the 0:00:07.000 --> 0:00:09.640 place where business is far from boring. And today I'm 0:00:09.680 --> 0:00:13.240 recording on gadigul Land. Now, I somehow managed to build 0:00:13.320 --> 0:00:16.680 an empire from the garage underneath my house, and I'm 0:00:16.720 --> 0:00:18.720 here to share it all with you, from the winds, 0:00:19.000 --> 0:00:23.200 the mistakes, the challenging times and the funny moments in between. So, 0:00:23.280 --> 0:00:25.959 whether you're in business yourself, perhaps you're not in the 0:00:26.000 --> 0:00:28.400 game at all, maybe you're just looking for some inspiration, 0:00:28.640 --> 0:00:31.080 or you just simply want to hear the tea, this 0:00:31.160 --> 0:00:34.000 is the podcast for you. Coming up on today's episode 0:00:34.000 --> 0:00:36.080 of Big Business, I'm going to be chatting with you 0:00:36.400 --> 0:00:40.199 about the things that I personally believe you should invest 0:00:40.240 --> 0:00:43.199 your money in when starting up a business. 0:00:43.479 --> 0:00:43.760 Now. 0:00:43.880 --> 0:00:46.720 A little while ago, back last year, at some stage, 0:00:46.760 --> 0:00:49.040 we did an episode on the things that I think 0:00:49.640 --> 0:00:52.440 aren't worth spending your money on when you start a business, 0:00:52.440 --> 0:00:53.400 and they are things. 0:00:53.280 --> 0:00:56.360 That people maybe do tend to spend money on. 0:00:56.760 --> 0:00:58.920 So you'll have to go back and find that episode 0:00:58.960 --> 0:01:01.040 if you haven't listened to it, because it's the opposite 0:01:01.080 --> 0:01:04.040 of this one. But today we're talking all things that 0:01:04.160 --> 0:01:08.080 I think are worth investing your money in when starting 0:01:08.160 --> 0:01:08.840 up your business. 0:01:09.720 --> 0:01:12.640 So, without further ado, let's just get straight down to business. 0:01:17.360 --> 0:01:22.440 Bomb boom bomb. Well can you just leave wow? 0:01:22.840 --> 0:01:25.039 Can you just leave that in here instead? Like don't 0:01:25.080 --> 0:01:27.600 put the song? Like just do me good? 0:01:28.120 --> 0:01:30.560 Don't don't don't. 0:01:31.240 --> 0:01:33.840 Okay, So let's get into it. I've actually just written 0:01:33.880 --> 0:01:36.559 down a little note here. When it comes to starting 0:01:36.600 --> 0:01:40.000 a business, there's obviously a lot of costs involved, and 0:01:40.160 --> 0:01:42.680 if anything, I think it can be super overwhelming for 0:01:42.760 --> 0:01:44.560 business owners knowing. 0:01:44.520 --> 0:01:45.720 What to spend your money on. 0:01:46.240 --> 0:01:48.560 So I mean, I could write down a billion things 0:01:48.600 --> 0:01:52.040 that are worth spending your money on. I definitely think 0:01:52.240 --> 0:01:54.400 a lot of people can overdo it and spend money 0:01:54.480 --> 0:01:55.440 on the wrong things. 0:01:56.000 --> 0:01:58.080 But today we're going to focus on things that I 0:01:58.200 --> 0:01:59.280 think are worth it. 0:02:00.120 --> 0:02:03.280 Now, the first one is a super boring one, and 0:02:03.400 --> 0:02:05.920 I think it's one of those things anytime you hear it, 0:02:06.400 --> 0:02:06.600 you go. 0:02:07.880 --> 0:02:09.320 But it's an accountant. 0:02:09.960 --> 0:02:12.679 I think from the get go, investing your money in 0:02:12.800 --> 0:02:16.919 having an accountant is going to pay off tenfold down 0:02:16.960 --> 0:02:18.160 the track. And I've actually got a bit of a 0:02:18.200 --> 0:02:19.639 story that I'm going to share with you today, and 0:02:19.680 --> 0:02:23.120 I'm going to expose myself for what I did in 0:02:23.280 --> 0:02:28.080 my earlier years. Okay, just to give you I might 0:02:28.120 --> 0:02:30.000 have already said this on the pod already. I'm not 0:02:30.040 --> 0:02:32.880 one hundred percent sure. But basically, when I was in 0:02:33.000 --> 0:02:36.919 my early twenties, I became a really famous influencer and 0:02:37.120 --> 0:02:41.040 instagrammer and YouTuber, and I was living in Sydney at 0:02:41.080 --> 0:02:43.920 the time, didn't have anything really to do with my family, 0:02:44.400 --> 0:02:47.760 and growing up, I was never given any guidance when 0:02:47.800 --> 0:02:49.079 it came to finances. 0:02:49.480 --> 0:02:52.200 I knew nothing about how tax worked. 0:02:52.560 --> 0:02:55.400 I had no idea, and when I started my business, 0:02:55.919 --> 0:02:58.520 it was very much yep, I'm going to start this business. 0:02:58.600 --> 0:03:01.000 Like my family had nothing to do with it. You know, 0:03:01.200 --> 0:03:04.399 Dad's not in the picture anyway, Mom's on and off 0:03:04.600 --> 0:03:06.880 kind of thing. So it was just me out there 0:03:07.000 --> 0:03:10.079 just fending for myself. And when I started Fate, I 0:03:10.160 --> 0:03:12.840 had no idea, and I'd never had any idea because 0:03:12.840 --> 0:03:14.120 no one had ever taught me anything. 0:03:14.200 --> 0:03:17.840 But anyway, when I became a really big, popular. 0:03:17.600 --> 0:03:21.919 Famous instagrammer and YouTuber, I was earning a lot of 0:03:22.000 --> 0:03:25.200 money all of a sudden, right and all I was 0:03:25.320 --> 0:03:28.320 used to back in the day, like before I became 0:03:28.360 --> 0:03:32.400 this big, famous influence was getting my pay every week 0:03:32.520 --> 0:03:34.920 from my jobs that I was working, and on my 0:03:35.040 --> 0:03:37.040 pay slip, I would see, you know, the tax had 0:03:37.040 --> 0:03:38.680 already been taken out and done for me. 0:03:39.240 --> 0:03:41.840 I saw my super like it. It's all there on 0:03:41.920 --> 0:03:44.160 your payslip, right, and you don't really think anything of 0:03:44.280 --> 0:03:45.880 it now. 0:03:46.120 --> 0:03:48.960 Because I was all of a sudden self employed at 0:03:49.000 --> 0:03:52.920 the age of twenty one on, I didn't know how 0:03:53.000 --> 0:03:56.920 to do tax because no one had ever taught me. 0:03:57.640 --> 0:03:58.760 I didn't have an accountant. 0:04:00.080 --> 0:04:03.440 So I was doing all these brand deals with all 0:04:03.520 --> 0:04:05.800 these brands, and they were paying me to post their 0:04:05.880 --> 0:04:09.080 products on Instagram. And then I learned how to make 0:04:09.120 --> 0:04:12.320 an invoice like myself, because that's how like when you're 0:04:12.320 --> 0:04:12.960 an influencer. 0:04:13.120 --> 0:04:15.360 You do a job and then you send your invoice 0:04:15.440 --> 0:04:16.720 and you get paid afterwards. 0:04:17.400 --> 0:04:20.760 And so I would send these invoices and the money 0:04:20.800 --> 0:04:24.159 would just go straight into my bank account, right. Another 0:04:24.279 --> 0:04:26.120 mistake that I made back then as well was I 0:04:26.200 --> 0:04:30.679 only had a personal bank account. Set up a business 0:04:30.760 --> 0:04:33.240 bank account when you're doing a business. But again I 0:04:33.320 --> 0:04:35.279 was young, I was twenty one. I had no idea 0:04:35.440 --> 0:04:38.480 about business banking. I just had my bank account and 0:04:38.680 --> 0:04:41.800 that was it. So all these chunks of money, and 0:04:41.800 --> 0:04:43.920 because when you are an influencer, you're not getting paid, 0:04:43.960 --> 0:04:46.640 you know, the same amount every week. Some weeks you 0:04:46.760 --> 0:04:48.800 might not get paid anything, and then the next month 0:04:48.920 --> 0:04:52.120 might be like boom, here's fifteen grand. And so I 0:04:52.240 --> 0:04:54.480 was just getting these chunks of money thrown into my 0:04:54.560 --> 0:04:58.800 bank account, and very quickly I started to, I guess, 0:04:59.000 --> 0:05:00.960 have a lot of money in my bank account. I 0:05:00.960 --> 0:05:03.160 don't know whether to say it was savings, but all 0:05:03.160 --> 0:05:06.200 of a sudden, over these years, in my early twenties, 0:05:06.680 --> 0:05:09.760 you know, I started to have twenty thousand dollars, thirty 0:05:09.800 --> 0:05:12.520 thousand dollars, forty thousand dollars, fifty thousand dollars. 0:05:12.360 --> 0:05:14.800 Just in my bank account. And I was like, wow, like, 0:05:14.920 --> 0:05:19.080 this money is mine. I didn't know that I. 0:05:19.200 --> 0:05:22.160 Had to pay some of it for tax, which is 0:05:22.279 --> 0:05:24.560 so stupid, I know, but again, like no one had 0:05:24.640 --> 0:05:28.000 ever taught me about anything. So here I was thinking, wow, 0:05:28.160 --> 0:05:30.200 like I'm just absolutely loaded. 0:05:30.279 --> 0:05:31.520 This is fantastic. 0:05:32.160 --> 0:05:33.520 And I remember in the back of my head I 0:05:33.600 --> 0:05:35.640 was like, wait, like I should be somehow paying tax 0:05:35.720 --> 0:05:38.320 on this, but I don't know how, And I guess 0:05:38.360 --> 0:05:40.720 I just kind of brushed it to the side and 0:05:41.520 --> 0:05:43.520 it bit me in the ass later down the track, 0:05:44.279 --> 0:05:49.400 and lucky, okay, lucky. So maybe two years into like 0:05:49.560 --> 0:05:53.000 working for myself full time and being an influencer, I 0:05:53.120 --> 0:05:56.080 hadn't done my tax for about two years. And it'll 0:05:56.120 --> 0:05:58.320 eventually catch up on you if you're not doing your tax, 0:05:58.360 --> 0:06:00.920 because the ATO will like see that you're not paying 0:06:01.000 --> 0:06:02.800 any tax and they'll reach out and be like, hey, 0:06:02.839 --> 0:06:05.560 what's going on. So that's exactly what happened to me. 0:06:06.320 --> 0:06:09.520 The ATO gave me a call, and I thought I 0:06:09.680 --> 0:06:14.040 was going to jail, Like I thought, I've committed tax fraud. 0:06:14.279 --> 0:06:17.480 I'm going to jail because I owe the ATO, Like 0:06:17.560 --> 0:06:18.440 I was just so scared. 0:06:18.440 --> 0:06:20.960 And again I'm like twenty three years old or something 0:06:21.080 --> 0:06:22.560 like that, and I'm like, oh my god, I owe 0:06:22.600 --> 0:06:25.840 the money. And I don't remember the exact figure, but 0:06:25.920 --> 0:06:29.119 it was around one hundred thousand dollars that I owed 0:06:29.160 --> 0:06:31.960 the ATO, and I thought I was going to jail, 0:06:34.200 --> 0:06:36.719 Like I thought I was going to jail, but I didn't. 0:06:37.400 --> 0:06:38.440 But I was freaking out. 0:06:39.680 --> 0:06:44.720 But luckily, like luckily, okay, I'd not gone crazy and 0:06:44.880 --> 0:06:47.080 spent that money that was sitting in my bank account 0:06:47.160 --> 0:06:49.559 like it was sitting there kind of as savings or whatever. 0:06:50.279 --> 0:06:53.280 And so what I did anyway, was then I got 0:06:53.320 --> 0:06:57.000 an accountant. Finally, that was like my trigger to go 0:06:57.160 --> 0:07:01.360 get an accountant. And then with the ATO, I set 0:07:01.440 --> 0:07:04.240 myself up on a payment plan just so that I 0:07:04.360 --> 0:07:07.039 didn't have to pay you know, one hundred thousand dollars 0:07:07.640 --> 0:07:09.560 in one payment. So I set myself up on a 0:07:09.640 --> 0:07:12.080 payment plan, and I think I spent the next like 0:07:12.200 --> 0:07:14.920 six to twelve months paying it off, just month by month. 0:07:15.640 --> 0:07:17.520 And then I eventually got to the point where I 0:07:17.720 --> 0:07:18.240 was all up. 0:07:18.200 --> 0:07:21.200 To date on my taxes, and then I had the 0:07:21.320 --> 0:07:25.440 accountant so that moving forward, he could you know, help 0:07:25.520 --> 0:07:28.920 me in paying my tax off as the years went by, 0:07:29.960 --> 0:07:31.800 because if you don't, like it's just gonna rack up 0:07:31.840 --> 0:07:34.520 and you're gonna get slapped with a massive tax bill. 0:07:34.560 --> 0:07:36.560 And that's a big lesson that I learned in my 0:07:36.640 --> 0:07:37.360 early twenties. 0:07:37.840 --> 0:07:41.440 And now anytime someone says to me like, oh, is 0:07:41.480 --> 0:07:45.080 it worth getting an accountant, Absolutely, And even if you're 0:07:45.240 --> 0:07:48.440 just starting your business and you know that the business 0:07:48.520 --> 0:07:51.080 isn't going to be making that much money, like you're 0:07:51.200 --> 0:07:54.200 just getting started, I would get an accountant from the start, 0:07:54.600 --> 0:07:57.880 have the accountant, help you set up your ABN, and 0:07:58.480 --> 0:08:00.920 like they'll they can be with you from the beginning. 0:08:01.320 --> 0:08:04.720 Hello, it is producer. I'm a producer. X Now keep 0:08:04.760 --> 0:08:06.320 it getting to just say, okay. 0:08:06.160 --> 0:08:08.880 We're quickly just changing the topic for one second. You 0:08:09.000 --> 0:08:11.160 all want to know something really funny. On the weekend, 0:08:11.280 --> 0:08:14.520 we went to Kylie Minou together and I put Xander 0:08:14.760 --> 0:08:17.560 on my Instagram story, which I've done before. 0:08:17.720 --> 0:08:19.640 Yeah, but maybe we've got new listeners. 0:08:20.240 --> 0:08:20.680 Yeah, but you. 0:08:20.880 --> 0:08:23.200 I don't think you ever referenced me as the producer this. 0:08:23.360 --> 0:08:25.280 People just thought you're my friend. 0:08:25.440 --> 0:08:25.640 Yeah. 0:08:25.920 --> 0:08:26.400 Oh nah. 0:08:30.680 --> 0:08:33.439 And it's so funny because so many people were replying, God, 0:08:33.520 --> 0:08:36.520 oh my god, this is not what I thought Sander 0:08:36.559 --> 0:08:37.240 would look like. 0:08:37.800 --> 0:08:39.240 I hope it's good, though. I hope people are like, 0:08:39.280 --> 0:08:41.920 oh my god, he's the most hideous producers. 0:08:42.200 --> 0:08:44.200 Funny, like people know you in the pod and they 0:08:44.240 --> 0:08:46.559 know your voice and your personality, but then they see that, 0:08:46.679 --> 0:08:49.280 oh my god, that's what Sander was like. Someone's like 0:08:49.559 --> 0:08:51.640 I was picturing to have long, surfy hair. 0:08:52.400 --> 0:08:54.440 I had long surfy hair at one point. I used 0:08:54.440 --> 0:08:56.000 to have a bleach blond mullets. 0:08:56.120 --> 0:08:56.680 O nice. 0:08:56.800 --> 0:08:59.720 So I think I think the voice would suit that, yep. 0:09:00.320 --> 0:09:02.360 But we had a Britney Spears moment last year and 0:09:02.360 --> 0:09:03.160 we shaved it all off. 0:09:03.400 --> 0:09:04.240 Oh yeah, yeah. 0:09:04.760 --> 0:09:07.280 But anyway back to business, you're going to ask me, 0:09:07.679 --> 0:09:09.679 I was going to ask you. So when you get 0:09:09.760 --> 0:09:12.959 your you've got your accountant. I don't know if this 0:09:13.080 --> 0:09:16.200 is a silly question, but does your accountant do they 0:09:16.360 --> 0:09:18.120 do your tax for you or do you still go 0:09:18.200 --> 0:09:20.120 to it like a tax agent to do that a 0:09:20.200 --> 0:09:20.679 separate one. 0:09:20.880 --> 0:09:23.120 Yeah, so they do it for you the same way 0:09:23.240 --> 0:09:25.559 like if you were going to a tax place to 0:09:25.600 --> 0:09:27.319 get your tax down to their accountants. 0:09:27.400 --> 0:09:31.120 That's very handy to have someone who completely understands your 0:09:31.160 --> 0:09:32.040 business doing that though. 0:09:32.160 --> 0:09:32.360 Yeah. 0:09:32.440 --> 0:09:35.600 So when you're starting out like it's it's I think 0:09:35.640 --> 0:09:39.319 when people here getting an accountant for my business, I 0:09:39.520 --> 0:09:41.760 think they think, oh, that's going to cost tens of 0:09:41.840 --> 0:09:44.960 thousands of dollars, Like it sounds like an expensive thing. 0:09:45.360 --> 0:09:47.720 But much like when it comes to doing your personal 0:09:47.840 --> 0:09:49.240 tax and how you just go and see them once 0:09:49.280 --> 0:09:50.640 a year and you pay them. 0:09:50.960 --> 0:09:52.440 Oh, I don't know how much it is these days, 0:09:52.480 --> 0:09:54.360 three hundred dollars like I. 0:09:54.360 --> 0:09:57.240 Think it depends on what you get back, yeah, or 0:09:57.320 --> 0:09:57.880 the place you. 0:09:57.920 --> 0:10:00.319 See, okay, like starting at eighty nine and you get 0:10:00.400 --> 0:10:05.800 charged x Y variables on it. 0:10:06.640 --> 0:10:08.679 So when you're doing it for your business, especially in 0:10:08.720 --> 0:10:10.400 the start, it can very much be like that where 0:10:10.400 --> 0:10:13.280 you're just going to see them once a year or 0:10:13.360 --> 0:10:16.400 whatever or once a quarter or whatever, and like you're 0:10:16.400 --> 0:10:17.920 just paying them the one off feet, like you're not 0:10:18.240 --> 0:10:20.360 signing them up as like an employee and paying them 0:10:20.440 --> 0:10:24.240 constantly and with an accountant for example, like they can 0:10:24.360 --> 0:10:28.199 do as much or as little as you want them to. 0:10:28.840 --> 0:10:32.439 So one thing that we do is because when you 0:10:32.600 --> 0:10:35.000 own a business, you've got money going in and out 0:10:35.360 --> 0:10:39.559 constantly all day. Like our bank statement is just like 0:10:39.840 --> 0:10:43.160 there's so many transactions every day, like in and out 0:10:43.200 --> 0:10:45.240 because we've got a website and rent coming out and 0:10:45.360 --> 0:10:47.880 this that and the other end suppliers and invoices and everything. 0:10:48.320 --> 0:10:50.720 So what you have to do is have a software, 0:10:50.920 --> 0:10:54.719 so we use zero and every day you kind of 0:10:55.160 --> 0:10:59.679 go through your transactions and then you like consolidate them 0:11:00.120 --> 0:11:02.400 and put them into all different categories. And so that's 0:11:02.480 --> 0:11:05.959 AJ's job at Fate every day or every second day 0:11:06.160 --> 0:11:07.960 or however often you can do it. Once a week, 0:11:08.280 --> 0:11:10.839 he goes through all of our transactions and puts them 0:11:10.920 --> 0:11:14.000 in their categories, like in the back end of zero, 0:11:14.280 --> 0:11:16.880 and then that links over to our accountant so that 0:11:17.160 --> 0:11:19.679 our accountant can log in and see AJ's already done 0:11:19.720 --> 0:11:21.520 it all for him kind of thing, which then makes 0:11:21.880 --> 0:11:25.160 doing our taxes a lot easier for our accountant. But 0:11:25.320 --> 0:11:29.040 it's really simple and straightforward, and it's just something that's 0:11:29.120 --> 0:11:33.520 worth your investment absolutely. You know, if you have an accountant, 0:11:33.559 --> 0:11:35.679 you're going to be doing your tax right. You know 0:11:35.800 --> 0:11:37.440 they're going to be trying to get you the most 0:11:37.480 --> 0:11:40.720 amount of money back when it comes to claiming things 0:11:41.080 --> 0:11:44.800 through your business expenses like stationary you know, all that stuff, 0:11:44.880 --> 0:11:46.719 the same way that you do with your personal You know, 0:11:47.000 --> 0:11:50.920 you can claim certain things, and it's just it's just 0:11:51.160 --> 0:11:53.760 a no brainer. Get an accountant from the get go, 0:11:54.080 --> 0:11:56.319 even if it's just helping to set you up, and 0:11:56.640 --> 0:11:58.360 they can educate you and what you need to do, 0:11:58.679 --> 0:12:00.800 like they're there to teach you, and then you can 0:12:00.880 --> 0:12:03.000 either have them doing everything or you can kind of 0:12:03.040 --> 0:12:05.520 take over yourself and just go to them when you need. 0:12:10.120 --> 0:12:13.520 The second one that I think is worth your. 0:12:14.840 --> 0:12:18.880 Money is only if you need it, but it's having 0:12:18.920 --> 0:12:21.640 a solicitor or lawyer that is going to draft up 0:12:21.720 --> 0:12:24.720 any contracts that you may have in your business. Now. 0:12:24.800 --> 0:12:26.480 I know a lot of people when you're starting out, 0:12:26.800 --> 0:12:30.160 you're probably not going to have contracts and all this 0:12:30.320 --> 0:12:32.520 kind of stuff. But when you're getting to the point 0:12:32.720 --> 0:12:37.400 of maybe signing a commercial lease or maybe you're starting 0:12:37.440 --> 0:12:41.640 to hire staff, I think it's worth your money having 0:12:41.679 --> 0:12:45.840 a professional look over a contract. Let's say you're going 0:12:45.880 --> 0:12:48.680 to hire your first employee, and you just and again, 0:12:49.080 --> 0:12:52.559 when you are hiring your first employee, your employment contract 0:12:52.640 --> 0:12:55.400 is going to look extremely different compared to a company 0:12:55.480 --> 0:12:58.559 that's got fifty staff, right, Like, the contract's going to 0:12:58.600 --> 0:13:00.880 be super simple if it's just you and one other person, 0:13:01.120 --> 0:13:02.439 But if you got fifty people, it's going to be 0:13:02.480 --> 0:13:04.480 a massive contract because you probably need a lot of 0:13:04.480 --> 0:13:07.640 shit in there. And even if you're let's say hiring 0:13:07.679 --> 0:13:10.480 your first employee, put them on a contract. 0:13:10.520 --> 0:13:13.600 I think it's just so important to have everything in writing. 0:13:14.200 --> 0:13:16.440 And when I started Fate and was hiring my first 0:13:16.480 --> 0:13:18.840 few employees, like for a while, they're like, we didn't 0:13:18.840 --> 0:13:20.920 have an employee contract because I just had no idea 0:13:21.320 --> 0:13:23.200 that I needed that, you know, I was like, Yeah, 0:13:23.240 --> 0:13:26.000 come work with me you start tomorrow like, that's very 0:13:26.080 --> 0:13:26.880 much what it was like. 0:13:27.240 --> 0:13:29.319 But then eventually I was like, wait, I need something 0:13:29.360 --> 0:13:29.640 to say. 0:13:29.720 --> 0:13:31.839 This person does work for me, and this is what 0:13:32.000 --> 0:13:34.839 their job outline is, and this is what they're getting 0:13:34.840 --> 0:13:37.959 paid per hour or whatever. So if you're going to 0:13:38.200 --> 0:13:41.920 be making contracts of any kind in your business, you know, 0:13:42.040 --> 0:13:44.600 maybe once it grows a little bit, have a professional 0:13:44.679 --> 0:13:46.800 look over your contract, even if you've made it up 0:13:46.840 --> 0:13:49.960 yourself for whatever reason. If you're confident enough to make 0:13:50.040 --> 0:13:52.040 up your own contracts that your staff are going to sign, 0:13:52.440 --> 0:13:55.839 pay someone external to look over it because you just 0:13:55.920 --> 0:13:58.400 don't ever want to get yourself in shit. And I 0:13:58.520 --> 0:14:01.000 just think again, it's just like a little one off 0:14:01.160 --> 0:14:05.720 expense to have you know, an employment lawyer look over 0:14:05.960 --> 0:14:08.280 your employee contract that you've made up or that you've 0:14:08.360 --> 0:14:12.199 pulled from a draft online somewhere. I think it's just 0:14:12.320 --> 0:14:13.959 one of those things that's really worth paying for. 0:14:15.120 --> 0:14:17.640 When you've had your contracts looked over, what are some 0:14:17.880 --> 0:14:20.280 things that have been flagged in the past that you 0:14:20.400 --> 0:14:23.840 think are probably important like to maybe include in those contracts. 0:14:24.080 --> 0:14:26.840 Yeah, I mean I think ours have always been pretty good. 0:14:27.000 --> 0:14:29.280 They might make some suggestions or they might say, oh, 0:14:29.400 --> 0:14:33.800 you might be wary of this line here. Another benefit 0:14:34.400 --> 0:14:37.400 that we've seen by having like lawyers and solicitors look 0:14:37.440 --> 0:14:40.680 over contracts is especially when we've been going to sign 0:14:40.760 --> 0:14:44.200 a commercial lease, So you send that commercial lease to 0:14:44.560 --> 0:14:49.560 a solicitor who might specialize in commercial lease contracts, and 0:14:49.640 --> 0:14:51.720 then they'll go through it with a fine tooth comb 0:14:51.800 --> 0:14:54.760 and go section forty five B. It says this like 0:14:54.920 --> 0:14:58.080 are you happy with that? If not, I suggest you 0:14:58.200 --> 0:15:01.040 go back and ask them x Y. Like they'll just 0:15:01.080 --> 0:15:03.680 pick up on stuff that we would normally just read 0:15:03.720 --> 0:15:06.120 over and think, oh, yeah, that's fine. And because contracts 0:15:06.160 --> 0:15:09.280 can be very tricky and things can be worded a 0:15:09.360 --> 0:15:11.840 certain way and it can sound like something, but it 0:15:11.920 --> 0:15:15.440 can mean something else. So every like commercial lease that 0:15:15.520 --> 0:15:17.480 we've done for all of our stores and our office 0:15:17.480 --> 0:15:19.720 in our warehouse, like I always get our solicitor to 0:15:19.840 --> 0:15:22.080 look over it. And again it's as easy as hey, 0:15:22.760 --> 0:15:25.680 XYZ person, here's a lease that I'm thinking of signing. 0:15:25.840 --> 0:15:27.720 Would you mind spending some time looking over it? And 0:15:27.760 --> 0:15:30.440 they'll get back to you in a few days and go, yep, 0:15:30.560 --> 0:15:32.360 here's all my comments. And it might be five or 0:15:32.360 --> 0:15:36.280 it might be fifty things, and they can also suggest 0:15:36.360 --> 0:15:40.080 things for you to then ask for in a contract 0:15:40.280 --> 0:15:41.840 or a lease, like I think you should ask for 0:15:41.960 --> 0:15:46.000 this because you're paying this much whatever. It's just worth 0:15:46.120 --> 0:15:50.920 getting professional opinions for certain things. So yep, accountant and 0:15:51.680 --> 0:15:55.120 lawyers or solicitors if you need them for contracts. Thing 0:15:55.280 --> 0:15:57.560 number three that I think is worth your money if 0:15:57.640 --> 0:16:01.400 you are setting up a e commerce e commerce store, 0:16:01.760 --> 0:16:06.600 I can't talk today. It's investing in having a Shopify store. Now, 0:16:06.640 --> 0:16:09.680 this is not sponsored. I know sometimes when I'm making 0:16:09.760 --> 0:16:12.080 recommendations on here, it can sound like I'm doing like 0:16:12.160 --> 0:16:14.080 a subtle sponsorship. 0:16:14.280 --> 0:16:15.920 Well Spotify Spotify. 0:16:16.360 --> 0:16:20.520 AJ always says Spotify as well. All the time. AJ 0:16:20.680 --> 0:16:22.720 goes look it up on Spotify and I'm like, you 0:16:22.840 --> 0:16:25.560 mean Shopify, Yeah, I meant shop Well. 0:16:25.600 --> 0:16:28.000 Shopify has sponsored the pot a few times, so this 0:16:28.160 --> 0:16:29.840 is a double win for them. 0:16:30.000 --> 0:16:32.400 Ye send this to them sponsoring us. 0:16:32.440 --> 0:16:37.160 Anyway, I think it's very worth your money to set 0:16:37.240 --> 0:16:39.520 up your store with Shopify. This is if you're going 0:16:39.560 --> 0:16:43.320 to be selling products. All these massive celebrities use Shopify 0:16:43.440 --> 0:16:46.400 because it's the best platform. You can take it from me, 0:16:46.560 --> 0:16:49.080 we are a Shopify store. There are a lot of 0:16:49.240 --> 0:16:52.520 other platforms out there, but there's a reason why Shopify 0:16:52.680 --> 0:16:54.800 is the number one. It is so easy to use. 0:16:55.240 --> 0:16:56.920 At the beginning, you're going to be like it's a 0:16:57.000 --> 0:16:59.800 bit of figuring out, but it is so easy once 0:16:59.840 --> 0:17:01.560 you get the hang of it, and it kind of 0:17:01.680 --> 0:17:03.840 reminds me of remember back in the day when we 0:17:03.920 --> 0:17:07.600 would like customize our MySpace profiles. 0:17:07.960 --> 0:17:10.840 It's giving that but as an adult. 0:17:11.359 --> 0:17:14.240 So yeah, if you're looking at doing a product based 0:17:14.280 --> 0:17:17.080 business and you're going to be selling stuff on your website, 0:17:17.480 --> 0:17:21.760 Shopify is worth every single penny because it's just the best. 0:17:21.800 --> 0:17:25.159 And I know so many people that start out with 0:17:25.400 --> 0:17:28.000 something else for whatever reason, like they've found another one, 0:17:28.040 --> 0:17:30.480 and then they always make the switch over to Shopify. 0:17:30.760 --> 0:17:33.639 So save yourself the time and effort of having to 0:17:33.800 --> 0:17:36.639 change and just start with Shopify. I know this sounds 0:17:36.680 --> 0:17:38.800 like an ad, but I swear it's not. I just 0:17:38.960 --> 0:17:39.480 really love it. 0:17:39.800 --> 0:17:40.639 The next thing that I. 0:17:41.080 --> 0:17:44.680 Believe is a great investment for your business if you're 0:17:44.680 --> 0:17:47.800 starting out and if you need staff, it's investing your 0:17:47.880 --> 0:17:51.440 money in the right staff from the beginning. We talk 0:17:51.560 --> 0:17:54.200 a lot about staff here on Big Business, and I've 0:17:54.240 --> 0:17:57.119 said it a billion times. Staff can either make or 0:17:57.240 --> 0:17:59.800 break your business. Now, staff are going to cost you 0:18:00.000 --> 0:18:04.600 money regardless, like paying someone is an expense. If you're 0:18:04.680 --> 0:18:07.359 hiring people, you're definitely going to be paying them. But 0:18:08.040 --> 0:18:11.520 it can either be an amazing investment if you have 0:18:11.840 --> 0:18:15.919 a great staff member, or you can be absolutely pissing 0:18:16.000 --> 0:18:18.960 your money down the drain if you have made a 0:18:19.080 --> 0:18:21.240 bad hire. And it's not to say that if you 0:18:21.280 --> 0:18:23.080 make a bad hire it's your fault. I know it 0:18:23.119 --> 0:18:26.840 can be really tricky, but investing money into the right 0:18:26.960 --> 0:18:30.320 people and your time as well having the right people 0:18:30.400 --> 0:18:35.080 come in can do absolute wonders for your business. So 0:18:35.280 --> 0:18:37.920 if you're in that position where you're ready to hire, 0:18:38.560 --> 0:18:42.520 take your time and invest your money into the right people, 0:18:42.760 --> 0:18:44.879 because amazing staff. 0:18:44.960 --> 0:18:47.880 Can do absolute wonders for your business. 0:18:48.440 --> 0:18:50.480 And I know we speak about this all the time 0:18:50.560 --> 0:18:53.800 on the pod, but when it comes to staff, you 0:18:54.000 --> 0:18:57.640 can't see it as an expense and like ugh, it's 0:18:57.800 --> 0:19:01.800 an investment because those people will end up becoming an 0:19:01.960 --> 0:19:05.120 asset to your business and they can make your business grow. 0:19:05.600 --> 0:19:13.679 So hiring good staff is an amazing investment. Another thing 0:19:13.840 --> 0:19:16.679 that I think is worth spending money on, and people 0:19:17.000 --> 0:19:21.359 may not spend it because they think that they can 0:19:21.400 --> 0:19:25.440 get away with not doing so. Is sampling again and 0:19:25.560 --> 0:19:29.800