Red Sofa Interviews

Sam Poole Mum 2 Mum

Watch the full interview here

Interviewer: Hi, Sam, from Mum 2 Mum. Welcome to Essendon and thank
you for taking the time to come in for our first Red Sofa interview.

Sam: Thank you for having me. It’s brilliant.

Interviewer: What inspired you to start Mum 2 Mum?

Sam: So, Mum 2 Mum started as just a Facebook group for friends and it was only over time that it developed into a business. But ultimately, it became a business that fitted around the children… working round my children… so that’s why I started to go down that path, rather than be employed.

Interviewer: A successful start-up business often hinges on the early advice they receive. Why did you choose Essendon?

Sam: Because, in my Facebook group, every time somebody asked for an accountant, everybody said, Roger at Essendon. All the girls at Essendon are absolutely brilliant. So, of course, as soon as I needed an accountant, I needed to listen to what my guys said and went to see Roger straight away. And he’s been brilliant.

Interviewer: How will technology and cloud-based systems help you manage the cash flow or financial side of your business?

Sam: Perfectly. Because it’s completely transparent, we can see exactly with the cloud-based access, that it’s real time. We can see what’s coming in, what’s going out; if we’re owed money. We send invoices out as well, with little reminders if people haven’t paid… Which I really like because I hate chasing money. Also, if something is a little bit too much, because I’m not very good at the accounting side, then I can just give Roger and the team a call and they’ll help me out. Which is great!

Interviewer: Where do you see your business in 5 years?

Sam: Roger does laugh when I come in to see him because, literally, I’ll have created another idea and he just goes… right, what bits go in where? We just have to jiggle everything. So at the moment, we’re set to roll out a management model so mums in other areas can do exactly what I do. So we’ve got the online database. We’ve got the magazine. We’ve got networking. And we’ve got a VIP card. And we’ve got pop-ups. And so that’s again where you need a really good accountant to work out how you manage different businesses; because us entrepreneurs … as somebody said… we like shiny marbles… Next time I see him, I’ve got another business idea and he’s like, “Ok, Sam, how do we do this?”

Interviewer: What’s your top tip to other start-ups for finding the right financial advisor/accountant?

Sam: Number one, you’ve got to be able to trust them. They’ve got to be approachable, friendly. I’ve asked probably some of the craziest and silliest of questions, and they don’t mind. They just say, “Yep.” They’ve had to repeat things a few times because I don’t understand what they’re saying. But we all know what we’ve got to do here, and things go in a pile. And the team remind me that you’ve to get a tax return in. You’ve got to be on time with everything. You’ve got to have someone you can trust, because you’ve got to make sure you’re on top of your accounts. Because at the end of the day, it’s make or break for your business. If you don’t get your accounts right, you won’t be getting paid.

Interviewer: Thank you, Sam, for coming in and taking the time. It’s been great to hear about your business and where you’re heading in months to come. And we look forward to working with you in 2019.

Sam: Thank you very much. Thank you for all your support with my selfassessment and also my end of Year And for becoming PR partner with Mum 2 Mum. It’s really appreciated. Thank you.

Watch the full interview here

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