Dominic Papaluca CPA
Dom Papaluca is a CPA who started his accounting career with some big corporates such as Chamberlain John Deere, Air Liquide, Pennant Holdings and Portman Mining to name a few. He witnessed the ups and downs of the heady 80s where it became clear to him that no matter how big or small the business may be, business owners were continually distracted by the same “background noise” of cash flow problems, surprise tax bills and people management. Dom commenced public practice in 1994 with a mission to reduce the background noise so that business owners could concentrate on what they went into business for in the first place.
As a business-owner himself, he understood how this feeling (out of control) results in a “siege mentality”, where the business owners try to do everything. This usually makes short-cuts look attractive, and decisions are rushed or skewed by fear. Conversely, he knew that business owners would flourish when they let their passion drive them, safe in the knowledge that they have somebody who “has their back” when it comes to the finances.
After all, when you are in control, you are relaxed, creative and have the time to lift your head up and look around. Dom sees himself as a teacher/mentor who keeps his clients focussed on what they should be doing and letting somebody else handle everything else. He would be happy to show you how to take control of your business.
Business tips from Dom
Whether you are farming or selling widgets for a living, always remember the “Three Bs”: Book it, Bill it and Bank it.
- Stay on top of your bookwork daily/weekly;
- Have a system in place which sends your invoices out as close as possible to doing the work (same day preferably);
- Follow up to make sure you get paid asap.
Get to know Dom
Born and raised in Perth to Italian migrant parents, Dom hated school and had plans to be a professional musician when he was in his teens. Instead he ended up coming full circle and studying at night school to get an accounting degree when the music thing didn’t work out (surprisingly, maths and music are very closely related).
He thinks he is a country boy, having lived and worked in Katanning since 1990, and fell in love with all-things agriculture and the farming fraternity. During his time in “KA”, he developed a real sense of community – and enjoys giving back by sitting on club boards and is actively involved in mentoring younger people. He is a past Commodore of Claremont Yacht Club and currently serving on the CYC committee. Dom is back in Perth now, and has three grown-up kids who have all flown the coop. This gives him the chance to spend more time following his passion for cricket, sailing and music.
His heroes are Capt. James Cook, Capt. Matthew Flinders, Dennis Lillee, Terry Alderman, Chad Smith and Stewart Copeland. Alas, he is too old to open the bowling for Australia, but he and his wife Anne are both keen watchers of the game. He plans to do a “Matthew Flinders” and sail around Australia one day, but this will be cancelled immediately should the “Red-Hot Chilli Peppers” or “Sting” put the call out for a new drummer.