Show Notes
Welcome to Tradie Pat, the new series from Latitude Accountants helping tradies understand the business side of going out on their own.If you have ever looked at what your boss charges for your time and thought, “Why am I not doing this myself?”, this series is for you.In episode one, Pat breaks down the first question every tradie needs to ask before starting a business:Are you actually ready to run a business, or do you just want to stop working for someone else?Because those are two very different things.Going out on your own is not just about charging more per hour. That money needs to cover fuel, tools, vehicles, insurance, super, tax, quoting, admin, chasing invoices, mistakes, downtime and all the things most employees do not see.Pat also explains why being good at the trade is not enough. As a tradie business owner, you need to quote, invoice, schedule work, manage cash flow, negotiate supplier terms, chase payments, understand tax, and still actually do the work.This episode covers:Why your boss charging $120 an hour does not mean they keep it allThe difference between sales and profitWhy “I hate my boss” is not a business planThe hidden costs of running a trade businessWhy clients become your new bossCash flow, suppliers and unpaid invoicesTools, utes, startup costs and working capitalThe five questions every tradie should ask before startingWhether you want a real business or just a better jobThe five readiness questions:Am I good enough in my trade to charge for it independently?Do people already want to hire me?Can I survive financially if the first few months are slow?Can I sell, quote, invoice and chase money?Do I want to build a business, or do I just want a better job?In the next episode, Pat will cover business structures and what you need to set up before starting your tradie business.Need an accountant?GET A FREE CONSULTATION FOR ALL ABN HOLDERShttps://forms.zohopublic.com/john205/form/GENERALENQUIRYFORM/formperma/VYEBrsCV_ompEVvnkA0eygWlJxXO5OajFsjjngf_jzwOUR SERVICEShttps://latitudeaccountants.com.au/accounting-services/[email protected]://www.tiktok.com/@latitudeaccountantsInstagramhttps://www.instagram.com/latitudeaccountants/YouTubehttps://www.youtube.com/@LatitudeAccountantsLinkedInhttps://www.linkedin.com/company/latitude-accountants/Facebookhttps://www.facebook.com/latitudeaccountants/Websitehttps://latitudeaccountants.com.au/This content is general information only and does not constitute financial, legal, tax or business advice. Please speak with a qualified adviser about your own circumstances.
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