Small business owners get real about money in this episode. We break down profit margins, the true cost to deliver, cash flow forecasting and late-paying clients, plus simple steps to protect your cash.
We also cover HMRC basics like “duality of purpose” and the claims that trip people up, in plain English.
Ellis shares his journey from almost getting sacked to building a 380–400 client firm, the flexible culture he runs, and the habits that keep him sane.
Plus why “keeping up with the Joneses” can quietly drain your bank balance.

00:00 Trailer and intro
01:36 The biggest money mistake: misunderstanding margins
03:29 The shock of break-even and take-home reality
06:20 Cash is king and why profit ≠ cash
07:39 Late invoices, contracts and chasing to protect cash flow
10:22 The bad cycle of quick-cash clients
11:27 Getting pricing right as a new business
12:35 Intro offers, then raising rates with proof
13:23 Firing clients and dealing with non-payers
15:38 HMRC basics and “duality of purpose” explained
17:31 Travel, masterminds and what’s actually allowable
19:13 Why an accountant reduces stress and risk
20:04 Ellis’s journey and the early grind
21:51 Young manager, pushback and proving it at 23
26:52 Building a flexible, remote-friendly culture
29:34 Work-life balance as a founder
31:22 The glamorised entrepreneur myth
32:12 Fitness as a pressure release
33:05 What’s next: splitting services and outsourced CFO
35:24 Why most businesses fail: skill, cash flow, lifestyle creep
36:54 Keeping up with the Joneses hurts your bank balance
38:27 Startup advice that actually works
40:33 Ask for feedback, not flattery
41:08 Take criticism to level up delivery
42:38 Wrap-up and thanks