Q&A: How Zac Hayes defied expectations to grow four practices across Australia

Zac Hayes is a country boy at heart. Having grown up in Bowral and Deniliquin, he brings a deep understanding of regional life to his work in Albury and Tocumwal – including some of the challenges it has for both small businesses and local people.

“People talk about doing a time warp when you go to the country and that’s very much the case when it comes to education about finances and technology in business. I wanted to be an advocate for change and innovation in that space,” Zac says.

He also saw family members experience near-constant financial pressures – another reason why Zac became an accountant and financial planner.

“I understood that there were financial difficulties but I wondered if there was a better way to plan for the stresses, and to forecast how you needed to adapt and change,” he says.

Zac’s first clients were family members. He helped them, they referred their friends, and a small practice grew organically.

Just seven years later, he now has practices in Albury and Tocumwal, as well as a business in Sydney. Just this week, he launched a new firm in Queensland.

Public Accountant sat down with Zac to talk about how he’s grown these businesses, what inspires him, and what he’s learnt along the way.

Q: You’re young to have grown four practices – has your confidence in your ability to do so much wavered along the way?

I'm on the neurodiversity spectrum and people used to say to me, because of my lack of eye contact and some of my social skills, that I would never be able to do what I'm doing today. I love the fact that I'm continually learning and as I've been doing so, the inner child in me says that I proved them wrong. Today I am a nationally recognised multi-award winning business leader and accountant, helping other business owners recognise their worth, create goals and achieve them.

People can put up so many roadblocks and place you in a box. Part of what I do, particularly with regional businesses, is helping people get out of that box and prove themselves wrong. If they’re thinking in a negative way, I’m there to go on this journey with them. I say, ‘Let’s kick those goals that you didn't think you'd be able to achieve.’

Q: It sounds like the opportunity to say ‘I told you so’ played a part in your decision to start your first practice in 2016. What else inspired you?

I’d worked at a few different firms at the time and I could also see a big push forward with technology. I thought there must be a better, more efficient and effective way of doing business and accounting. The firm I was at didn’t necessarily want to go in that direction, so I bit the bullet, started a firm and jumped on social media. Within a year, we had more than 1,000 clients. I had to hire very quickly!

The community really got behind me; I think only being in my early 20s when I started out and having a new way of doing business, particularly in regional areas, resonated with people.

We went from strength to strength. I brought on my business partner, Laura, in HA Accounting, and then an opportunity came up to launch in Albury. Within two years we were operating in Albury and Tocumwal.

Then two years ago I started Ignite Strategy & Tax with another business partner, Sarah, in Sydney. Going into the Sydney market has given me the opportunity to meet with creatives – many in digital and talent agency management – and bring them on as clients. Today we are working with thousands of clients both nationally and internationally to structure their businesses and build wealth by design.

Q: Working with people in creative industries and supporting younger clients to reach their financial goals is a key focus of your business. What do you find rewarding about working with the next generation?

I went out on my own when I was 23 or 24 years old. Seven years have passed and I’m now talking to 16-year-olds who are running e-commerce platforms in the social media influencer world. That’s a really exciting space to be jumping into. I’m guiding the next generation of business owners who are being really fiscally responsible.

For me it’s not just about the operational efficiency or the tax position of a client. I want to make a difference to their business efficiency and stress levels. I take a proactive business adviser approach and understand how we can put strategies in place, whether it’s using technology and AI or something else, to alleviate their stress.

Q: That work – advising and introducing a client to new technology tools and new processes – can be more challenging than dealing with the numbers. How do you and your team help clients adopt new ways of working?

Accountants are generally very good at projects. We understand the task and we create a checklist so we think we’re good to go. But when there are people involved there’s a change management aspect. You can hit so many roadblocks because people don’t like change. We’ll often tell people directly they should do something because it’s more efficient rather than getting their buy-in and understanding the problem through their lens.

As a leader, I don’t pick technicians and operators because they’re great with numbers, efficiencies and checklists. I need people that care. When I’m throwing them roadblocks and I say, ‘We need to change a core process or procedure for a client’, I need people who think, ‘I need to bring that client along the journey’.

Q: The last question’s a tough one: What are you most passionate about and what has that taught you about accounting?

Being able to explore, constantly learn and see different cultures is why I get out of bed in the morning. Travelling has taught me that everyone’s journey is unique. Having the awareness that other people have different mindsets, cultures, customs and ways of doing things is the biggest reason I’ve been able to excel. If you approach people from a place of understanding, you don’t mind repeating yourself four or five times.

I also met my partner in Brazil and he ended up coming back to Australia with me. He didn’t know English when we first met so that’s been an evolving process. It’s taught me that when you’re exhausted and the last thing you want to do is repeat yourself multiple times over and over, to have that awareness and communicate that you’re really tired, but remember it’s not their fault that you’ve had a big day. I think it’s made me more patient and understanding with my clients too.