Women in FOCUS - An Interview with Tania Magon

As founder of Maven Accounting with more than 30 years of experience in taxation and accounting services, what do you enjoy most about your business?

Having started my first job as admin assistant at a tax practice in Sydney over 32 years ago, tax is all I’ve ever done.  I decided to start my own practice 8 years ago.  I can honestly say, no two days are ever the same, every client is different with different family dynamics & investment risks.  Legislation constantly changes which 9 times out of 10 makes you reset and shift strategies for your clients.

I’m solution focused and love saving clients’ money!!!  I enjoy keeping up to date with the ever changing tax and SMSF landscape making sure clients aren’t missing out on strategies that will save money today and in the future.

As a long-time member of HBWN, how has the network supported you and your business?

The network has and continues to provide a great place for me to connect with likeminded women and share experiences.  When you are a sole practitioner in business, you rely on resonating with other women in similar situations.  The HBWN also provides access to a great resource of women in business and professionals in the region.

I’ve met some of the most admirable women through the network which I know I’ll continue to grow in life and business together.  The networking events are a great opportunity for women to relax, connect and just take some time for ourselves.

What are some tips for other women trying to grow a business in regional areas?

 Get yourself out there! Regional business grows through connection and word of mouth.  That’s why joining the HBWN was one of the first things I did when starting my business.  The network provided a great platform to get the business out in the community.  Talk to your accountant or other financial professional you trust regarding structure of the business, cashflow and any other legislative requirements.

What are the biggest challenges you have faced and what did you do to overcome them?

Starting, it’s a scary step to leave the security of employment with the uncertainty of business on your own.

Then further changing the direction of the business to specialise in SMSF. I remember being told by a more mature accountant that I was crazy specialising as it will box you in.  That just gave me more determination to forge ahead, believing in myself to provide the specialised services I saw was needed to those that wish to control their superannuation interests. 

What do you want to achieve next?

Financial Mediation – I’ve seen financial tragedy when it comes to a breakdown in a relationship simply due to not getting the right advice and seeing the long game.  I help by mediating (whilst understanding the tax implications) couples to identify a solution before the expensive legal route in relation to financial separation of assets they have accumulated overtime together.

It’s also important when you are starting a new relationship after a breakdown.  Relationships are hard enough with blended families and no one wants to go through the financial split nightmare again.

I help couples, again by financial mediation, review their current financial position, identify how they want to grow together and mediate some solutions that offer protecting what they already have whilst going forward and building their new lives together.

Final thoughts for other women in business?

Try to overcome the fear and engage your reason for going out in business. No one I talk to ever does it for the money!!!  It’s always to service something or someone. Surround yourself with others supporting you, stay away from the naysayers and recognise that all women in business are experiencing the same challenges, just in different ways.

 ne of my favourite quotes by Grace Hopper, who was before her time, a brilliant mathematician and computer scientist said “probably the most dangerous phrase that anyone could use in the world today is the dreadful; “But we’ve always done it that way”. 

So go ahead and do it your way, there is no set or hard-and-fast rule.

We appreciate you sharing your insight with us Tania, thank you!