In the fast-paced world of Australian small business, success is often measured by the bottom line. But if you ask Michael Saade, CA—a two-time winner at the Accountants Daily Awards, including the prestigious Excellence Award—the real secret to a thriving enterprise isn’t just in the ledger; it is in the culture.

Michael sat down on the Latitude Accountants podcast to reflect on his 10-year journey from a 17-year-old “coffee runner” to an award-winning Chartered Accountant. Whether you are a sole trader just starting out or managing a growing team, Michael’s insights into loyalty, discipline, and “boots on the ground” accounting offer a masterclass in building a business that lasts.

The 10-Year Rule: Why Loyalty is a Competitive Advantage

We live in a marketplace where “job hopping” is the norm. Many business owners vent their frustrations about training staff only to see them leave after 12 months. Michael Saade is the exception, celebrating a decade at Latitude Accountants.

What keeps a high performer loyal for 10 years?

• A Painted Future: Michael notes that the “boss man” always painted a clear picture of the future. He was not just doing tax returns; he was building a career with a clear trajectory toward advisory and leadership.
• Meritocracy Over Nepotism: Despite being family-run, Latitude operates on 100% merit. “Someone shouldn’t be excluded from an opportunity because of their relationship, but they shouldn’t be elevated above peers because of it either,” says John Saade.
• The Long Game: Michael admits there were times he could have started his own firm after gaining his CA and tax agent number. However, he saw the benefit of “playing the long game,” learning the complex side of tax advisory and client management before stepping out.

Small Business Tip: To keep your best people, stop treating them like employees and start treating them like future leaders. Show them the path forward, and they will not feel the need to look elsewhere.

Discipline: The Bridge Between the Gym and the ATO

If you walk into the Latitude office, you might mistake the team for gym owners rather than accountants. This “gym culture” is not just about lifting weights; it is about a mindset of discipline that translates directly to financial success.

Michael highlights three habits that built his success:

1. Stay Active: Physical fitness keeps the mind sharp for a job that requires intense mental energy.
2. Be Patient: Success is a “grind”. You must be patient and willing to put in the “hard yards” over a decade.
3. The “Fresh Fade” Philosophy: Looking professional and feeling fresh—symbolised by his weekly haircut habit—builds the confidence needed to perform at your best.

This same discipline applies to your business finances. Michael observes that the most successful clients are those who are disciplined with their cash flow. They set up a separate tax savings account, put 30% of their revenue aside immediately, and never touch it. This ensures they are never “drowning” when the Business Activity Statement (BAS) or end-of-year tax bill arrives.

Understanding the “Boots on the Ground”

A common mistake in the accounting industry is staying behind a desk. At Latitude, the philosophy is different: You cannot truly advise a business you have not seen.

Michael and the team advocate for getting out to client sites—seeing the machinery, meeting the staff, and understanding the “boots on the ground” reality. This context allows an accountant to move from being a “tax specialist” to a “business partner”.

“If you’re not at your business and it’s open… you don’t care about your business,” John Saade notes. Knowing whether a client is based in Sydney or regional Australia, understanding their family dynamics, and seeing their operations first-hand is what allows for truly strategic advice.

Navigating the “Lean Season”

With rising inflation and interest rates, Australia is currently in a “per capita recession”. Consumption is down, and many small businesses are feeling the pinch.

John Saade’s advice for struggling owners is simple but tough: Get lean.

• Review your headcount: If you have extra staff but your revenue is not growing, it might be time to get your own hands dirty again.
• Organise the Chaos: Growth often creates chaos. Your job as a leader is to sequence your efforts—focus on revenue first, then production, then overheads.
• Follow the P&L: Look at your Profit & Loss statement from the top down. If the revenue is not right, nothing else matters.

Frequently Asked Questions (FAQs)

How much should I set aside for my business taxes?

We recommend being disciplined by setting up a separate savings account and depositing 30% of your income into it immediately. This ensures you have the necessary funds for GST, PAYG withholding, and income tax without impacting your daily operating cash flow.

What is the best way to retain staff in a small business?

Retaining staff requires building a clear vision for their future. You must invest in their training, provide a path for progression, and ensure the workplace is a meritocracy where hard work is recognised and rewarded regardless of personal relationships.

Should my accountant visit my business premises?

Absolutely. A “boots on the ground” approach allows your accountant to understand your industry and operational challenges. This context is vital for providing accurate tax advice and strategic business coaching that goes beyond just looking at a spreadsheet.

What should I do if my business is struggling during a recession?

You must understand your numbers immediately. Focus on the top of your P&L (revenue) through sales and marketing, then look at “getting lean” by reducing unnecessary overheads or adjusting your staffing levels to match current demand.

Partner with the Experts at Latitude Accountants

Building a successful business requires more than just a good idea—it requires a disciplined approach to your numbers and a culture that attracts top talent. Whether you need help navigating complex tax structures like Division 7A, managing your Superannuation obligations, or strategic advice to scale your operations, Michael and the award-winning team at Latitude Accountants are here to help.

Contact the expert team at Latitude Accountants today for strategic accounting and business advice tailored to your specific situation.

• Phone: 1300706597
• Email: info@latitudeaccountants.com.au
• Book online via our website.
• Sydney Olympic Park | Marrickville | Melbourne | Loxton

Disclaimer

The information provided in this blog post is general in nature and does not constitute personal financial or tax advice. Australian tax laws, including GST, Payroll Tax, and Stamp Duty, can vary between states and territories and are subject to change. Readers should seek professional advice from a qualified accountant regarding their specific circumstances before making any financial decisions.