Accounting Insider - Property, Wealth, Business Tips & Tricks

Kym works closely with a number of leaders in the medical industry and his longtime friend, John McMahon, is among the best in the business. John has built a thriving medical centre in the southern suburbs of Adelaide, South Australia, which is world class for services provided, design and business model. It’s one of two medical practices owned by John, who for the last 30 years has specialised in development and construction, where he found particularly great success with retirement accommodation. John shares his story, lessons learned from developing medical practices and much more. ALSO: You can now subscribe to the Accounting Insider VLOG on Youtube! https://www.youtube.com/channel/UC9WSkuOVDJsuFWRz832AlUw About Kym, http://accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and busines

“This first drill hole, this beautiful black stuff came up, absolutely unbelieveable.” Kym Nitschke interviews Ernie Kirsten, co-founder of mining company Millennium. Ernie was running his own private practice as a chartered accountant when he started doing the books for a geologist. The duo began looking into coal explorations and, despite seeing a map that marked a North Queensland area as “no coal”, decided to look a little deeper. It was a masterstroke, and Ernie’s geologist became the client that paid off big time. Listen to the interview and get the full story now. You can also watch the video here: https://youtu.be/v_3BsBgT2pc About Kym, http://accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses. Key to Kym’s success has been his ability to provide practical, wealth

Regular Accounting Insider listeners know that Kym Nitschke believes that the business lunch is still hugely important, so in this episode we're bringing you to the table. Kym and regular host Andrew Montesi awkwardly placed their recording gear amongst their plates and wine glasses at Osteria Oggi, one of Adelaide's top CBD restaurants, for a live lunch chat which also included Accounting Insider listener Daniel Franco. Daniel shared his story, which include property, app and business development. Also in discussion - Kym also talks about the continued viral growth of his Porsche Buy and Sell Facebook group and how to potentially monetise it, as well as ideas for global expansion, questioning the value of university education, family and the quest for success. Tune in now. About Kym, http://accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym

Kym strongly believes that you don't need to to hire a property manager to take care of your investment property and tenants. In fact, doing it yourself is the key to keeping long term, reliable tenants and saving money. But if you're going to go it alone, you'll need to know the best way to go about it. In this episode Kym reveals all, including the available tax incentives, vetting tenants, finding the right forms, maintenance and most importantly, how to build lasting relationships. Tune in now. About Kym, http://accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses. Key to Kym’s success has been his ability to provide practical, wealth building solutions for all people and circumstances. Whether it is minimising tax for a multi-million dollar business, a retirement plan fo

Kym's fascination with "squatters" continues with the story of the Adelaide man who was allowed to stay in an abandoned property after a gambler paid his council rates. Kym says there's more to it than simply a bizarre and interesting story. The combination of property, accounting and legal complexities of squatter issues make for interesting case studies with lessons to be learned. It also highlights that property ownership, investment and development is never black and white - which can be a blessing or curse if you're in the market. About Kym, http://accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses. Key to Kym’s success has been his ability to provide practical, wealth building solutions for all people and circumstances. Whether it is minimising tax for a multi-million

A case of mistaken identity has led to the discovery of two homes in Perth, one worth a million dollars, that have been abandoned. One of Kym's colleagues, another accountant, has a client who was mistakenly billed for outstanding council rates on the million dollar property. He dug a little deeper, and it was discovered that the original owner is now living in Fiji and wants nothing to do with the property. Kym shares the details of the fascinating story, and the tricks the client could've pulled to inherit the valuable property for peanuts! ALSO - Accounting Insider receives handwritten fan mail and property tips from Papua New Guinea! About Kym, http://accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses. Key to Kym’s success has been his ability to provide practical, wea

Kym's hunt for a commercial property in one of South Australia's most sought-after suburbs continues. The journey started in episode 32, when Kym revealed plans to buy a commercial property in Kent Town, which is just one kilometre outside of Adelaide's CBD. It seems an impossible task, but Kym is applying every lesson he's learned about property. He continues to go to extraordinary lengths to find the right property with an owner who is willing to sell. And as you'll hear in this episode, Kym's persistence is starting to pay off! He reveals all the tricks and tips, so listen and learn! About Kym, http://accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses. Key to Kym’s success has been his ability to provide practical, wealth building solutions for all people and circumstanc

There’s so much noise online that it’s hard to be heard. But Kym is finding a way to cut through. This podcast has been key, of course, but there’s been a social media surprise of late - Facebook buy and sell groups. After benefiting from a Boosted Board group (AI subscribers will remember Kym talking about Boosted Boards ..), Kym has set up a Porsche Buy and Sell group, learning that the thing about social media and online content is finding your niche. Tune in. About Kym, http://accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses. Key to Kym’s success has been his ability to provide practical, wealth building solutions for all people and circumstances. Whether it is minimising tax for a multi-million dollar business, a retirement plan for a high net worth individual, or bu

Kym has begun the hunt for another commercial property, and it is testing his patience, resilience and big picture property plan. Kym will share his insights and learnings every step along this property purchase journey on Accounting Insider. He is eyeing one of South Australia's most sought after suburbs, Kent Town, which is one kilometre outside of Adelaide's CBD. Prices are sky high, and very few properties are on the market. Kym is doing extensive research, meeting all of the influential property players and even making some unwelcome phone calls. He is learning more about the properties than the owners themselves. Find out Kym's plan of attack for breaking into this seemingly impenetrable suburb. About Kym, http://accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses.

If you're a regular Accounting Insider listener, you'll know that Kym can find himself in the occasional sticky situation. When things get complex the guy Kym calls is lawyer Andrew Andreyev (https://andreyev.com.au/). Andrew works with entrepreneurs, investors and their families in Adelaide and Sydney. Andrew holds Bachelor degrees in Commerce and Law from Adelaide University, as well as a Masters of Law (in Taxation and International Law) from Melbourne University. He is admitted to practice law in Australia and the United Kingdom. Andrew is a Chartered Tax Adviser with the Taxation Institute of Australia (TIA), a Fellow (and a founding member of the Adelaide Chapter) of the Society of Trust & Estate Practitioners (STEP), and a member of the Law Societies of NSW and SA. Andrew is a prolific blogger and regularly writes and presents on issues facing entrepreneurs and their businesses. Kym sits down with Andrew to find out his story, insights and how he helps business owners come over their complex chal

Outsourcing is a growing phenomenon for many companies large and small, especially accounting firms, but finding the right outsourcing solution is easier said than done. Poor systems and technology, choosing the wrong support person and paying too much are just a few of the barriers that exist for business owners. Kym Nitschke has begun outsourcing at his accounting firm, and shares what he has learned so far. This episode is aligned with other Accounting Insider episodes about the evolution of Kym's accounting practice into an innovative firm - Also see Eps 27, 26, 25, 22 and 21. About Kym, http://accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses. Key to Kym’s success has been his ability to provide practical, wealth building solutions for all people and circumstances. Whe

Kym Nitschke has detailed his highly effective property investment strategies throughout Accounting Insider and in this episode he puts the plan into action. Kym is often advises on investment property purchases, and was engaged by a client, a high net worth doctor, to find and buy a property. Kym talks about: - Identifying the right property - Playing the long game - Uncovering key details (not known by other potential buyers) - Pricing and negotiation - Dealing with the real estate agent - Much more! The end result was a great result for Kym's client, and he explains the entire process in full. About Kym, http://accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses. Key to Kym’s success has been his ability to provide practical, wealth building solutions for all people and

People make all kinds of excuses about why they can't launch their business idea but cost shouldn't be one of them, Kym Nitschke says. Anyone can start a business, any time, and it is surprisingly cheap to launch. The key is knowing how to do it in the smartest, most efficient way possible. Kym explains how in this episode of Accounting Insider. About Kym, http://accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses. Key to Kym’s success has been his ability to provide practical, wealth building solutions for all people and circumstances. Whether it is minimising tax for a multi-million dollar business, a retirement plan for a high net worth individual, or business structure advice for a tradesman, Kym uses his decades of experience to develop plans for prosperity. As a Fellow C

There's no reason why you can't hit $1 million in annual revenue with just two staff members, Kym says. However, most solo operators get stuck at $200,000 in revenue. Kym explains why, and how to break the barrier. Among the key tips, Kym says it is crucial to hire great staff to free to up for much more marketing and networking - bringing new clients through your doors. Kym also deals with the common excuses made by business owners, and reveals his solutions. About Kym, http://accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses. Key to Kym’s success has been his ability to provide practical, wealth building solutions for all people and circumstances. Whether it is minimising tax for a multi-million dollar business, a retirement plan for a high net worth individual, or busine

Kym has parted ways with a longtime staff member. It was a huge decision with both commercial and personal implications. He could see his accounting firm's company culture starting to fray. In a small business, there’s no where to hide even though, by Kym’s own admission, he tried to put his head in the sand for some time. “Hiring and firing” means so much to a small business. Right and wrong decisions have an enormous impact. True to the Accounting Insider theme, Kym bares all about the process, what went right and what went wrong, the reasoning behind the decisions made and the end result. While it is a touchy subject, we believe there’s important lessons to learn from this story. About Kym, accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses. Key to Kym’s success has been h

Your customer is worth a hell of a lot more than you think. After winning a client, some business owners won't consider much more about that client's value. Or they might look at the client's value narrowly - how much am I invoicing this client, or how much did that client pay me last financial year? Fewer business owners look at the client's value for the entire period that they remain a client. Kym has recently gone through this process, and was surprised about the true value of his clients and the impact of that on the value of his overall business. This leads to cost per customer acquisition. When you know a client's true worth, you have a better idea about what you should be spending to acquire that client. Kym explains the importance of these critical metrics and how to crunch these numbers to gain a true understanding of your business. About Kym, accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Sinc

It was a "one in 50 year storm" and it cast an entire state into darkness. Power lines were wiped out, shutting down South Australia's power source for hours. In some regional centres the lights didn't come on for days. The cost to business is enormous, and it exposes key holes in risk management and backup plans. Kym talks about how his business was affected, what he learned and what you need to do to ensure that inevitable natural disasters do not shut you down. About Kym, accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses. Key to Kym’s success has been his ability to provide practical, wealth building solutions for all people and circumstances. Whether it is minimising tax for a multi-million dollar business, a retirement plan for a high net worth individual, or business

Some people will try and tell you the long lunch is dead, but Kym scoffs at this suggestion(as he finishes off his second helping of dessert). For Kym, business lunches are a key part of his marketing and business development success. He spares no expense, from the restaurant choice, to the wine and the number of courses. It is all about the experience. It sounds lavish and expensive but it pays off, if you're wining and dining with a plan. Kym reveals his "lunch strategy", ensuring that you'll be left with much more than just a hefty bill! About Kym, accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses. Key to Kym’s success has been his ability to provide practical, wealth building solutions for all people and circumstances. Whether it is minimising tax for a multi-million

In the midst of the digital revolution, most companies aspire to be paperless. It is easier said than done. It involves technical change; migrating systems to the cloud, utilising software, scanning documents and much more. It also involves cultural change; changing the way “things have always been done” in the office and, as Accounting Insider’s Kym says, “declaring war on paper”. Kym’s accounting practice is now 99% paperless. It has revolutionised his business with cost savings, efficiency gains and a greater experience for clients and staff. But Kym explains that the process was a challenge. There was a failed attempt at going paperless and other complications. Kym talks about how he did it, the lessons learned, and why you should not wait any longer! About Kym, accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client

For most people, creating a monthly budget is hard enough, let alone 10 years! But work with us here. Kym's 10 year budget is really just a process to outline your wealth goals, the the road map to achieve them. For Kym, a 10 year budget is a retirement plan, and it has enabled him to work out if he is on track, or if he needs to make some corrections. What do you need to do to reach your financial aspirations? Tune in now! About Kym, accountinginsider.net : Kym Nitschke is an accountant, financial adviser and entrepreneur who lives and breathes the advice he gives his clients. Since taking charge of Nitschke Nancarrow Accountants in 2007, Kym has grown the firm’s client base to 1200 individuals and businesses. Key to Kym’s success has been his ability to provide practical, wealth building solutions for all people and circumstances. Whether it is minimising tax for a multi-million dollar business, a retirement plan for a high net worth individual, or business structure advice for a tradesman, Kym use