A client of almost 18 years, Rocklea Truck Electrical began as a small business focusing on the supply and fitment of chrome truck accessories. Today, the business has more than 30 employees, operates out of its third location, and has a solid track record of profitability.

Owners Kim and Brock Macdonald have turned their budding operation into a thriving business, but their success didn’t happen overnight. They’ve reached their destination through hard work and ambition, helped along with the support and dedication of Ulton’s team.

Kim and Brock were introduced to our firm in 2007 through Brock’s brother Jason Macdonald, who was an existing Ulton client.

With 22 months of business under their belts, they had recently prepared their first tax return with another accountant and were knocked for six when they were hit with a tax bill that they hadn’t provisioned for. With a big bill and no spare cash to pay for it, cashflow became a problem. The Macdonalds were stressed—worried about the future of their business and the impact on their family.

“Like so many other business owners, they didn’t get the right advice to start with,” said Mark McLean.

Bundaberg natives, the Macdonalds were residing in Brisbane but made the journey back up north to meet Mark in the office and talk through their situation: what happened and more importantly, what to do now.

“It was clear that they were very good at what they did—very good tradespeople—but they didn’t have any budgets in place. They weren’t looking at their debtors. They weren’t looking at the things they needed to,” Mark said.

With no existing processes in place, the Insights team implemented a budgeting and cashflow management system using Castaway, along with monthly meetings aimed at instilling financial discipline.

“Since that first day I met them in May 2007, I have met with them for at least an hour, every month since,” Mark said.

“We do their budgets. We do their cashflows. And we talk business with them,” he said.

Reflecting back on those formative years with them, Mark acknowledges the work it took to turn their situation around.

“Back then, it was definitely hard yards for them,” he said.

“So it really was a matter every month, going through their debtors with them and reminding them to follow people up, looking at their productivity and their pricing (are they actually pricing their jobs correctly?), and being involved in any big decision they make—like moving from their first small premise to a much larger one,” said Mark.

From where the Macdonalds were when they first visited our Bundaberg office, to where they are now—the transformation is dizzying.

RockleaImage: The Rocklea Truck Electrical team are celebrating two decades in operation in 2023.

They’re operating out of their third location and have grown their staff from three to 30. They have gone from facing significant cashflow issues to running a highly profitable business and having substantial off-business assets.

“So many of Ulton’s people have worked with them along the way, which has contributed to helping them get to this point,” Mark said.

“We’ve supported them with handling HR issues from time to time. Their wills, estate planning, insurance reviews—all of that. Investments, too. They now invest through Karl Brosnan at Morgans as well,” said Mark.

There are many Ulton staff who have had a hand in the Macdonalds’ journey, but Mark also reiterates that it’s the attitude and outlook of the family that has enabled them to truly shift the dial.

“I’d call them an ideal client, in that they have embraced and acted upon every piece of advice we’ve given them,” Mark said.

“They are great at what they do and they really listen. They have followed their budgets and cashflows and they’re always learning from that,” he said.

“They have also embraced the value of a plan—which is the biggest single driver of success. They were prepared to really put savings and investment plans in place along the way.”

“All our most successful clients have a plan and something to work towards,” said Mark.

“It’s really rewarding to look back on where they’ve come from and see where they are now,” said Mark.

Mark adds that the satisfaction doesn’t just come from witnessing the financial success of the family business, but also bearing witness to how the Macdonalds have grown professionally, personally, and as a family unit.

“It’s great to see the involvement their two boys are now having in the business, and how close they are as a family. It’s also just great to see them enjoying themselves and the sense of pride they have,” he said.

133 RaceHaving worked closely for almost 18 years, Mark has developed a close friendship with the family.

“They’re great clients, and they have become great friends—the kind you have for life,” said Mark.

“We’re at their kids’ milestone birthday parties—the 18ths, the 21sts. We race horses together, we travel together. My wife Jane and Kim have become great friends too.”

“With relationships like these, you do become a part of the family,” he said.

“They know that they can talk to me about anything. They can ring me at night to talk through an issue. It really is that role of a trusted advisor—it’s a great friendship, but it’s all been founded on that business relationship and the trust that we have built over such a long time,” Mark said.

The Macdonalds’ story shows what’s possible when great work has the right guidance; when a business and its advisor work arm-in-arm and set their sights on the same vision for the future.

As a firm, we are filled with pride for what the Macdonalds have achieved and for the commitment of our people, who have helped them to achieve it.

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