How to Spot (and Solve) What You Can’t See in Your Business

As EOFY looms, many business owners find themselves knee-deep in receipts, chasing invoices, and wondering: 

“How did things get this messy again?”

You're not alone. Even as a CPA, I’ve found myself in this position at times.

But, here’s what I’ve learned: EOFY isn’t just a compliance deadline, it’s a golden opportunity for a 'systems check'.

You probably wouldn't drive your car all year long without at least one major service and a regular tyre pressure check. 

Consider the EOFY your business' major service. It’s the perfect time to uncover hidden inefficiencies and blind spots that have been costing your business time, energy, and profit. 

(And, unfortunatley, your accountant is often too busy handling the "rego compliance" to give you a full strategic service package.)

So, let’s explore what those blind spots look like and how to identify and tackle them before June 30 rolls around.

What Are Business Blind Spots?

Blind spots are the areas of your business that go unnoticed in the day-to-day chaos. They’re not always obvious but they’re almost always expensive.

Here are some of the most common:

• Outdated or manual systems that cause double-handling and wasted time
• Inaccurate or delayed financial reports (seriously -  what’s the point of looking at historical reports without also looking at a forecast?)
• “Set and forget” subscriptions for products you’ve long stopped using
• Poor visibility of team performance, productivity or ROI
• Strategy driven by stress or survival - not sustainable growth

1. Profit & People: Your Hidden Growth Levers

If your business is constantly busy but the bank account doesn’t reflect it, you’re not alone. This is often a sign of hidden profitability and team structure issues.

Profit Blind Spots:

• Are your most profitable services clearly separated in your reporting?
• Do you know your break-even point and are you actually hitting it?
• Are you pricing based on value, or guessing based on what others charge?

People Blind Spots:

• Are your team members playing to their strengths, or spread too thin?
• Are you DIY-ing things a specialist could do faster and better?  (Goodness knows as a small business owner myself I know the pitfalls of this one!)
• Are roles, responsibilities, and workflows clear or do things fall through the cracks because no one knows exactly who is accountable for what?  
  

EOFY is a great time to zoom out and ask:

Does your current team structure still support your business goals - or is it time to realign?

2. Cash Flow, Debt & Financial Discipline: The Unseen Drains

Some blind spots creep in slowly, then hit hard:

• Poor cash flow management – Revenue might be steady, but if timing is off, you’ll feel the pinch. I've written about cash flow issues in a previous blog here
• Hidden profitability issues – Are you unknowingly absorbing costs or over-servicing clients?
• Unmanaged debt – ATO payments, loans, and overdue suppliers can snowball quickly if not tracked and planned for.
• Out-of-control spending – Are all your business expenses pulling their weight and providing good ROI?
• Lack of financial planning – Making decisions without a forecast is seriously like driving without a map!

EOFY is your moment to reset. By creating a clear plan for how money flows in, out, and around your business, you can set yourself up for smarter decisions and sustainable growth.

3. GST & Tax Payable: The False Sense of Profit

Another major blind spot? GST and tax obligations that creep up and take you by surprise.

Here are a few questions to reflect on:

• Do you know your true cash position, excluding what’s owed to the ATO?
• Are you setting aside GST and tax every month or just handling it when the BAS is due?
• Is your Chart of Accounts set up to code GST correctly?

Unmanaged tax liabilities can give you a false sense of security. And at EOFY, surprises like that are the last thing you need.

EOFY is a Strategic Opportunity - If You Use It Right

The lead-up to June 30 shouldn’t just be about compliance. It’s a chance to reset, realign, and refocus on what’s really driving value in your business.

Here’s how to start:

1. Step Back – Ask yourself: Is the way we’re operating actually working?
2. Review Systems & Software – Are your tools helping or hindering?
3. Check Your Numbers – Are your reports timely, accurate and useful for decisions?
4. Zoom in on Profit, People & Payables – Align your strategy with where your business truly thrives.

💡 How Mayday Consulting Can Help

At Mayday Consulting Services, we help uncover the blind spots holding your business back.

Our Strategic Finance & Systems Audits are built for businesses who are ready to stop winging it and start building momentum.

We help you:

✅ Systemise inefficient processes

✅ Optimise team roles, profit levers, and software

✅ Succeed with clear data and confident strategy

Whether you’re feeling behind or ready to grow, EOFY is the perfect time to take action.

Ready to uncover your blind spots?

Let’s chat. Book your free strategy call here: Bookings

Or, join the chat over on LinkedIn via Mayday Consulting Services for practical EOFY tips and insights.

Let’s make this EOFY your most strategic yet.

EOFY shouldn’t just be stressful. It should be strategic.

Need help making that shift? You know where to find us.