Tony Robbins on the Next Big Disruptor to every Business

Clarke McEwan Accountants

Tony Robbins. CREDIT: Getty Images

"Not since the dawn of the internet has a single technology had the power to fundamentally change every business and industry," says Tony Robbins in his latest podcast, The Next Big Disruptor|NextVR's Brad Allen talks about how virtual reality is about to change everything .

When Tony Robbins first put on a pair of virtual reality goggles, he was transported to a basketball game, courtside. "I have been fortunate enough to sit courtside watching an NBA finals game, and I felt like I was right back there," says Robbins.

I must admit that my first reaction was to be skeptical. Ever since Star Trek's Holodeck, I have wanted to believe that virtual reality would one day change the very fabric of how we consume content and thereby how we do business. I was an early supporter of Linden Lab's Second Life in the late '90s and a huge fan of Neal Stephenson's Snow Crash novel (published in 1992). But for the better part of the past two decades, virtual reality has not seemed to progress very much, until now.

Virtual Reality (Finally) Ready for Prime Time
What has changed is that the technology has finally caught up with the vision of what's possible. And the end-user cost of the technology has dropped below the $1,000 price point, which means that we're about to see massive growth in user adoption. According to research firm Tractia, more than 200 million consumer virtual reality head-mounted displays (HMDs) will be sold worldwide by 2020. The same article states, "The company forecasts that consumer virtual reality hardware and content revenue will increase from $108.8 million in 2014 to $21.8 billion worldwide by 2020, with a compound annual growth rate (CAGR) of 142 percent."

Consumer adoption is fundamentally being driven by three players: (1) Google's Cardboard, (2) Samsung's Gear VR, and (3) Facebook's Oculus Rift.

 

Why Virtual Reality Is the Next Big Disrupter
In Robbins's latest podcast, he and NextVR's executive chairman, Brad Allen, discuss what has fundamentally changed in both virtual reality and augmented reality that has made it ready for prime time. NextVR has invested millions in building the hardware and software technology that allows you to feel like you're right there.

 

"It's as if you are transported," says Allen. "It's the closest thing to teleportation you'll ever experience. You put on the goggles and instantly you're right there. From a courtside seat at the NBA to backstage with your favorite artist." NextVR has cut deals with the NBA, Nascar, Live Nation, PGA, NHL, boxing, NCAA March Madness, and Fox TV (to name just a few). NextVR is actively working to deliver the kinds of experiences you can't even buy in the real world. Not just front-row seats at your next music concert, but onstage, backstage, and the ability to bounce around from multiple perspectives during the live event.

"This is an unfair competitive advantage for businesses in the next 12 to 18 months," says Allen. "Goldman Sachs is predicting virtual reality will become an $80 billion industry." He expects as many as 20 million customers will adopt the technology in 2016, with another 50 million to 70 million in 2017 and hundreds of millions thereafter.

And while the focus of NextVR is currently entertainment, Allen sees applications in every industry. Imagine your child coming home from school and telling you, "We went to the pyramids today and walked around." Or how about using virtual reality for enhanced training programs? These are way better webinars when you can actually attend the live event. Or in the medical profession, why not consult your doctor virtually? And what about all the advertisers who want to tap this medium?

With the technology finally being ready for prime time, there are a slew of applications we are only just beginning to explore that will fundamentally shift your business.

What Business Are You In? What Business Must You Become?
Robbins teaches that every business must know the answers to two fundamental questions: What business are you in? And what business must you become? When you fall in love with your customers (instead of your products), you must build the future of your business for tomorrow while simultaneously delivering the value you've promised today. Regardless of what business you are in today, Robbins is encouraging you to be thinking about what business you need to become so you are not disrupted when the needs of your customers fundamentally shift.

In the podcast, I enjoyed Robbins's hockey analogy: "The best hockey players in the world don't skate to where the puck is, but rather they get to where the puck is going." Google, Facebook, Samsung, and Robbins believe that virtual reality will fundamentally impact every business. It's not a matter of if so much as a matter of when. Strategizing and planning for these shifts today will help ensure you ride the technology wave rather than have the wave of technology crash over you.

Being Transported Into the Heart of Incredible Experiences
But hardware is not enough. We've seen massive flops in technology such as 3-D television sets. Why should anyone believe that virtual reality will succeed when other technologies have failed utterly? The answer is in the incredible content that is currently being developed.

This year at Collision , I was consumed by a virtual reality storytelling panel that had David Eun and Marc Mathieu of Samsung Electronics speaking with Jacques Methe of Cirque du Soleil. Eun talked about his own life-changing experience being transported to Africa. "I was fortunate enough to be with Scott Harrison, CEO of Charity: Water, and a small group of benefactors," said Eun. "We put on our VR goggles and were instantly transported to a small village in a third-world country. There we experienced the joy of dozens of children as the water well Charity: Water had drilled went online. I've never experienced anything like it. I was there. We all were there. And yet each of us had a different and unique experience depending on which child's face we chose to focus on. I believe virtual reality will fundamentally change the nature of the charities we support, when you can stand in front of the very people whose lives you are forever changing."

Then, Jacques Methe blew my mind when he described what Cirque du Soleil was doing in partnership with Samsung. "At first, we used virtual reality to capture the front-row-seat viewing experience" he said. "But then we asked ourselves, what if we put you right in the middle of the action? Rather than watch from the audience, what if you could be in the show? With virtual reality, you can now be onstage and part of the story."

 

Imagine experiencing what it feels like to be a Cirque du Soleil acrobat. With the ability to change perspectives, you can be flying on a trapeze, bouncing on a trampoline, or simply look out into the audience as a clown. We are now only scratching the surface of what's possible with virtual reality storytelling. The content creators have an entirely new medium to play with.

 

 

We Must Get Beyond the Novelty
I also had the opportunity to speak with Curtis Evey and Dominic Kurtaz of Dassault Systemes 3DExcite, a leader in virtual reality for the automotive and aerospace industry. "Until you put on a virtual reality headset, you don't understand," says Evey. "Today, retail is primarily an execution of decisions already made digitally before you ever enter the store. But with virtual reality, we can finally experience the product without leaving our homes."

 

"What gets me really excited," says Kurtaz, "is combining 3-D printing capabilities with virtual reality. This is going to completely change the game in so many industries."

And that, my friends is the point of all of this. Virtual reality is (finally) here, and it appears to be gaining traction in all the right places. You can choose to ignore virtual reality and wait for one of your competitors to disrupt you. Or you can take the time to understand what this is all about and find new and interesting applications for your business.

Take Massive Action on Virtual Reality
So, enough of the intellectually interesting information. The time has come to take massive action. If you want the full benefit of this knowledge, you need to do something with it. So here are the three things you must do if you're serious about building the business you must become.

  1. Listen. Hear all of these insights from the very players who are making it happen today. Listen to Tony Robbin's podcast: The Next Big Disruptor|NextVR's Brad Allen talks about how virtual reality is about to change everything.
  2. Put on a damn virtual reality head-mounted display. We can discuss and debate this until we're blue in the face. You're at a massive disadvantage until you adorn a virtual reality headset from Facebook's Oculus Rift or Samsung's Gear VR. Even Google's Cardboard at least gets you a taste of what's possible. But just talking the talk is meaningless. You won't get it until you wear it.
  3. Envision and write down three possible futures. Once you've experienced today's virtual reality, take 30 minutes to brainstorm (by yourself or with your team) how you might use this technology to make your customers' experience 10X better. Don't fall in love with the technology. Instead, fall in love with how you will dramatically improve the lives of the customers you serve. That's the only way to win.

I appreciate your taking the time to read my articles, but if you choose not to take these action steps, then all I've done is bring this technology to your attention. For the full benefit of your business, you need to take the time to do something with this information. Otherwise, there's very little benefit for you or your company.

If I haven't convinced you, you can also read Tony Robbin's latest LinkedIn Influencer post on the same topic. Perhaps hearing it from "the Chairman" (i.e., the man whose ownership of multiple businesses is worth more than $5 billion) will inspire you to take massive action. Robbins is, after all, the No. 1 life and business strategist, a New York Times best-selling author, an entrepreneur, and a philanthropist. When he sees something insightful, let alone game-changing, I tend to pay attention.

The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.

Save your business time and money using cloud accounting

By Clarke McEwan • October 28, 2025
Accounting tasks don’t have to eat into your business time. With the right cloud accounting software and setup, you can save time and money – while also getting tighter control over your finances. #accounting #software #finance

Trust Resolutions – Why Timing and Evidence Matter

By Clarke McEwan • October 10, 2025
As the trustee believed the income was classified as interest (this was challenged successfully by the ATO), the trustee assumed that the income would be subject to a final Australian tax at 10%, under the non-resident withholding rules. This was clearly more favourable than having the income taxed in the hands of Australian resident beneficiaries at higher marginal rates. However, the ATO argued that the distribution resolutions were invalid and the Tribunal agreed. Why? The main reason was a lack of evidence to prove that the distribution decisions were made before the end of the relevant financial years. While there were some documents that were purportedly dated and signed “30 June”, the Tribunal wasn’t convinced that the decisions were actually made before year-end and it was more likely that these documents were prepared on a retrospective basis. The evidence suggested the decisions were probably made many months after year-end, once the accountant had finalised the financial statements. The outcome was that default beneficiaries (all Australian residents) were taxed on the income at higher rates. Timing of trust resolution decisions is critical For a trust distribution to be effective for tax purposes, trustees must reach a decision on how income will be allocated by 30 June each year (or sometimes earlier, depending on the trust deed). It might be OK to prepare the formal paperwork later, but those documents must reflect a genuine decision made before year-end. For example, let’s say a trust has a corporate trustee with multiple directors. The directors meet at a particular location on 29 June and make formal decisions about how the income of the trust will be appointed to beneficiaries for that year. Someone keeps handwritten notes of the meeting and the decisions that are made. On 5 July the minutes are typed up and signed. The ATO indicates that this will normally be acceptable, but subject to any specific requirements in the trust deed. If the ATO believes the decision was made after 30 June (or documents were backdated), the resolution can be declared invalid. In that case, you might find that one or more default beneficiaries are taxed on the taxable income of the trust or the trustee is taxed at penalty rates. This could be an unexpected and costly tax outcome and could also lead to other problems in terms of who is really entitled to the cash. Broader lessons – it’s not just about trust distributions The timing issue is not confined just to trust distribution situations. Other areas of the tax system also turn on when a decision or agreement is actually made, not just when it is eventually recorded. For example, if a private company makes a loan to a shareholder in a given year, that loan must be repaid in full or placed under a complying Division 7A loan agreement by the earlier of the due date or lodgement date of the company’s tax return for the year of the loan. If not, a deemed unfranked dividend can be triggered for tax purposes. If a complying loan agreement is put in place then minimum annual repayments normally need to be made to avoid deemed dividends being recognised for tax purposes. A common way to deal with loan repayments is by using a set-off arrangement involving dividends that have been declared by the company. However, in order for the set-off arrangement to be valid there are a number of steps that need to be followed before the relevant deadline. The ATO will typically want to see evidence which proves: · When the dividend was declared; and · When the parties agreed to set-off the dividend against the loan balance. If there isn’t sufficient evidence to prove that these steps were taken by the relevant deadline then you might find that there is a taxable unfranked deemed dividend that needs to be recognised by the borrower in their tax return. Documenting decisions before year-end The key lesson from cases like Goldenville is that documentation shouldn’t be an afterthought — lack of contemporaneous documentation can fundamentally change the tax outcome. What normally matters most is when the relevant decision is actually made, not when the paperwork is drafted. In practice, this often means: · Check relevant deadlines and what needs to occur before that deadline. · If a decision needs to be made before the deadline, ensure that a formal process is followed to do this. For example, determine whether certain individuals need to hold a meeting or whether a circular resolution could be used. · Produce contemporaneous evidence of the fact that the decision has been made. You might consider sending a brief email to your accountant or lawyer explaining the decision that has been made before the relevant deadline , basically providing a time-stamped record of the decision. · Finalise paperwork: formal minutes of meetings can sometimes be prepared after year-end, but they must accurately reflect the earlier decision. Thinking carefully about timing — and building a habit of producing clear evidence of decisions as they are made — is often the difference between a tax planning strategy working as intended and an expensive dispute with the ATO.

Accessing superannuation funds for medical treatment or financial hardship

By Clarke McEwan • October 10, 2025
Superannuation is one of the largest assets for many Australians and offers significant tax advantages, however, strict rules apply to when it can be accessed. While super is most commonly accessed at retirement, death or disability, there are limited situations where earlier access may be possible. Early access is generally available in two situations: · Financial hardship – where you are receiving a qualifying Centrelink/DVA payment for a minimum period and cannot meet immediate living expenses. · Compassionate grounds – Funding for certain specific scenarios which include preventing a mortgage foreclosure or meeting medical expenses for a life-threatening injury or illness or to alleviate severe chronic pain. Compassionate grounds access requires an application to be made to the ATO which needs to be accompanied by relevant medical certificates or mortgage information. If approved the ATO will provide instructions to the individual’s superannuation fund to release an amount to cover the expense. We have included some ATO links with more detailed information on compassionate grounds and financial hardship below. When accessing superannuation under compassionate grounds you would usually collect the relevant supporting documentation and personally make the application for approval using your MyGov account. It has come to the ATO’s attention that there may be medical and dental providers exploiting this access and assisting super fund members to access amounts for cosmetic reasons (you may have even seen advertisements pop up on your social media showing people with a new sparkling smile – and a lower super balance). The ATO’s concerns are discussed in Separating fact from fiction on accessing your super early. Superannuation fund members and SMSF trustees should be aware that there can be substantial penalties applied when super is accessed outside of the legislated conditions of release. You should never provide another party with access to your MyGov login or allow a third party to make applications on your behalf. Penalties may also apply for making false declarations. Should you have any questions or concerns relating to proposed access to your superannuation please reach out to us. Related links Accessing superannuation under compassionate grounds Accessing superannuation due to financial hardship

Government Review of Supermarket Unit Pricing: What It Could Mean for Your Business

By Clarke McEwan • October 10, 2025
Submissions closed just a few weeks later on 19 September 2025, marking the end of a very short opportunity for stakeholders to have their say. A Quick Recap Unit pricing is what allows shoppers to compare costs per standard measure (e.g. $/100g or $/litre) across different pack sizes and brands. Since 2009, large supermarkets have been required to display this information to help customers spot value. While compliance has been relatively low-cost and penalties limited, the Government’s review signals that much tighter rules could be on the way. Why Now? The ACCC’s recent supermarket inquiry highlighted that while unit pricing helps, there are still gaps. The big concern is shrinkflation—when pack sizes quietly reduce while prices remain the same or higher. With cost-of-living pressures dominating headlines, the Government is looking at clearer, fairer pricing to rebuild consumer trust. What Might Change? Proposals considered in the consultation paper include: · Shrinkflation alerts – supermarkets may need to flag when a product becomes smaller without a matching price cut. · Clearer displays – larger, more prominent unit prices both in-store and online. · Wider coverage – expanding the rules beyond major supermarkets to smaller retailers and online sellers. · Standardised measures – eliminating confusing “per roll” vs “per sheet” comparisons. · Civil penalties – introducing fines for non-compliance. The Commercial Impact For suppliers, packaging decisions could come under closer scrutiny. For retailers, costs might arise from updating shelf labels, software, or e-commerce systems. But there are also opportunities: businesses that embrace transparency could build loyalty and stand out in a competitive market. What You Should Do Now that the consultation period has closed, Treasury will consider submissions and the Government is expected to announce its response later this year. Businesses in food, grocery, and household goods should stay alert—the final shape of the rules could affect pricing, packaging, and compliance obligations across the sector. At Clarke McEwan, we can help you model potential compliance costs, assess financial impacts, and prepare for upcoming regulatory change. Reach out to discuss how this review might affect your business.

ATO Interest Charges Are No Longer Deductible – What You Can Do

By Clarke McEwan • October 10, 2025
Leaving debts outstanding with the ATO is now more expensive for many taxpayers. As we explained in the July edition of our newsletter, general interest charge (GIC) and shortfall interest charge (SIC) imposed by the ATO is no longer tax-deductible from 1 July 2025. This applies regardless of whether the underlying tax debt relates to past or future income years. With GIC currently at 11.17%, this is now one of the most expensive forms of finance in the market — and unlike in the past, you won’t get a deduction to offset the cost. For many taxpayers, this makes relying on an ATO payment plan a costly strategy. Refinancing ATO debt Businesses can sometimes refinance tax debts with a bank or other lender. Unlike GIC and SIC amounts, interest on these loans might be deductible for tax purposes, provided the borrowing is connected to business activities. While tax debts will sometimes relate to income tax or CGT liabilities, remember that interest could also be deductible where money is borrowed to pay other tax debts relating to a business, such as: · GST · PAYG instalments · PAYG withholding for employees · FBT However, before taking any action to refinance ATO debt it is important to carefully consider whether you will be able to deduct the interest expenses or not. Individuals If you are an individual with a tax debt, the treatment of interest expenses incurred on a loan used to pay that tax debt really depends on the extent to which the tax debt arose from a business activity: · Sole traders: If you are genuinely carrying on a business, interest on borrowings used to pay tax debts from that business is generally deductible. · Employees or investors: If your tax debt relates to salary, wages, rental income, dividends, or other investment income, the interest is not deductible. Refinancing may still reduce overall interest costs depending on the interest rate on the new loan, but it won’t generate a tax deduction. Example: Sam is a sole trader who runs a café. He borrows $30,000 to pay his tax debt, which arose entirely from his café profits. The interest should be fully deductible. However, if Sam also earns salary or wages from a part-time job and some of his tax debt relates to the employment income, only a portion of the interest on the loan used to pay the tax debt would be deductible. If $20,000 of the tax debt relates to his business and $10,000 relates to employment activities, then only 2/3rds of the interest expenses would be deductible. Companies and trusts If a company or trust borrows to pay its own tax debts (income tax, GST, PAYG withholding, FBT), the interest will usually be deductible if it can be traced back to a debt that arose from carrying on a business. However, if a director or beneficiary borrows money personally to cover those debts, the interest would not normally be deductible to them. Partnerships The position is more complex when it comes to partnership arrangements. If the borrowing is at the partnership level and it relates to a tax debt that arose from a business carried on by the partnership then the interest should normally be deductible. For example, this could include interest on money borrowed to pay business tax obligations such as GST or PAYG withholding amounts. However, the ATO takes the view that if an individual who is a partner in a partnership borrows money personally to pay a tax debt relating to their share of the profits of the partnership, the interest isn’t deductible. The ATO treats this as a personal expense, even if the partnership is carrying on a business activity. Practical takeaway Leaving debts outstanding with the ATO is now more expensive than ever because GIC and SIC are no longer deductible. Refinancing the tax debt with an external lender might provide you with a tax deduction and might also enable you to access lower interest rates. The key is to distinguish between tax debts that relate to a business activity and other tax debts. For mixed situations, you may need to apportion the deduction. If you’re unsure how this applies to you, talk to us before arranging finance. With the right strategy, you can manage tax debts more effectively and avoid costly surprises.

Measuring the health of your business with ratio measures

By Clarke McEwan • October 3, 2025
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