Episode Transcript
[00:00:00] In this episode, you'll learn what a big New South Wales care provider story can teach every leader about money, trust and systems and the simple steps you can use this week to protect your team and your brand. Welcome to why your business isn't growing and how to fix it, a podcast for business owners who want practical people powered ways to grow your business without burning out. Hey, I'm Brendan Rogers. You may have seen this in the news.
[00:00:26] In New South Wales, a large out of home care provider was named in Parliament. The minister said there was a staff housing scheme where employees bought houses and rented them back to the provider at about 20% above market rates. She called it unacceptable.
[00:00:43] The provider says it's ended the scheme and strongly rejects the claim of misuse of funds. It's all now on the public record.
[00:00:51] Now, I'm not here to judge the case. I'm here. I'm here to ask the question, what can every leader learn from this situation?
[00:00:58] Whether you run a cafe, a tradie crew, a clinic or even a tech shop, money, trust and systems always matter. When they wobble, your brand wobbles. When your brand wobbles, business growth slows.
[00:01:13] Now it doesn't matter if you have five staff or 500, big or small business. These rules protect money, trust and people. If you take payments, sign leases or approve spending, then this is for you. If people look to you for the standard, this is for you. No one is too small for good rules and no one is too big to fail at them. So let's make it real and very simple. There are five lessons I think all of us as business owners and business leaders can take from this situation.
[00:01:49] Lesson one, clear rules beat. Trust me.
[00:01:54] If a deal touches a staff member or an owner, we can check the market and get an outside tick.
[00:02:01] That means two quotes and one independent approval. There should be no exceptions because grey rules become news headlines.
[00:02:10] So today write a one page sheet called Money Rules. Keep it simple. What we allow, what we don't and who signs off.
[00:02:20] Then set a reminder to review it every three months.
[00:02:24] Lesson two, two outsiders are your safety net.
[00:02:29] Pick your accountant and one experienced operator. Any deal over $20,000 as an example or any insider deal goes past them.
[00:02:39] Their job is to ask, where's the risk, where's the proof and who benefits?
[00:02:45] Send them a one page summary before they meet up. If they say wait, we wait. And put their review dates in your calendar right now.
[00:02:55] Lesson three, Conflicts don't vanish, so manage them in daylight. We should declare first, then decide. Start a simple conflict Register.
[00:03:06] Include name, role, the link and how we'll manage it. Log gifts, any side jobs and family leases and update it every quarter.
[00:03:17] If you have a conflict, step out of the decision, say it out loud in the meeting and keep the register in a shared folder.
[00:03:25] Lesson four controls must be boring and regular. Over $5,000 needs two approvers each month. Spot check five invoices at random. Match the invoice to the quote and the work done.
[00:03:40] Using a We trust them system is not a control.
[00:03:44] Book a 30 minute trust check on the last Friday of every month and on that day, ask any payments to staff or owners, any new risks, any odd invoices. If something feels off, pause the payment and go and check it.
[00:03:59] Lesson 5 Make it safe to raise a flag. Create one email inbox that goes to the business owner and one advisor. Tell the team how to use it and thank people when they do. Never ever punish the messenger. Every quarter you can share a short note you said and we did put the email option pathway on a poster in the lunchroom and on the login page. If an issue is big, bring in the advisors and explain the next steps. Do one small step each week. Your team will feel it and your customers will feel it. Acting on the lessons will bring transparency into your business culture. Remember small improvements every day. That's how serious growth happens.
[00:04:45] You might remember this example, and here's why reputation matters. Remember Volkswagen's Dieselgate?
[00:04:53] They used software that tricked emissions tests. What was the result?
[00:04:57] Trust crashed, sales fell in key markets and they paid huge fines. It took years and billions of dollars to rebuild the brand.
[00:05:07] It's a different industry, but the same lesson. When trust breaks, growth breaks. For small business, the numbers are smaller, but the hit can be absolutely fatal. Good rules keep your name clean, your team proud, and your customers coming back. That's how you keep growing your business the right way.
[00:05:28] So let's make it real with a story that you might know.
[00:05:32] You might own a growing trade business.
[00:05:34] A site manager wants to lease a ute to the company.
[00:05:38] Here's what you could do.
[00:05:40] Check your money rules. Staff leasing is allowed, but only with a market check and outside approval. Get two quotes for a similar ute.
[00:05:50] Set the rent at market rate. No extras hidden in the maintenance log. The conflict in the register and your advisor signs off on it.
[00:05:59] Review the deal in six months.
[00:06:02] That's all you have to do. No dramas, no headlines. And you grow your business and keep trust high.
[00:06:10] So it's time to trade this theory for action. Here's your 30 minute plan.
[00:06:14] Now I want you to pause the podcast book in your trust check in your calendar. Now. I'll wait.
[00:06:23] Alright, you're back with me. I hope you've put your trust check in your calendar and in your trust check you need to do these five steps. Draft your one page money rules.
[00:06:35] Second, start your conflict register with today's date. Third, add a two person approval limits to your finance system.
[00:06:44] Fourth, book a monthly trust check for the next six months. And fifth, create your SpeakUp path and tell your team do one today and do another next week. Small improvements every day. That's how serious growth happens.
[00:07:01] This this is how you protect business growth while protecting your people.
[00:07:06] And remember, big business or small business, these are the simple steps you can use right now to protect your team and your brand.
[00:07:16] I'm Brendan Rogers and this is why your business isn't growing and how to fix it. If today's episode helped you, please follow the podcast and share it with a leader who wants to keep growing their business with with less stress and more trust. Until next time, Grow yourself, grow your business.
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