Inspired Business Issue 4 December 12

PRIVATE INVESTMENTENTREPRENEURSHIP, THE

INVESTMENT PROCESS AND THE FUNDING MODELS

ISSUE 4DECEMBER 2012

BUSINESS & ACCOUNT

PLANNING

BRANDINGYOUR CRITICAL

SUCCESS FACTOR

BREAKING THE

‘TOMORROW’ ADDICTION

TIPS TO BREAK THE CASH-FLOW

CRISIS

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Inspired Business Issue 4 December 2012 | 5

04 Editor’s Letter

06 ‘Branding’ Your critical success factorByron Marchant unlocks the keys to a successful SME business...

10 15 Powerful success secretsJim Rohn on the 15 challenges that can help you to go further, climb higher and conquer anything you want in business and in Life.

14 Business and Accounting PlanningDavid Lindsay offers some practical advice to effectively manage your cash flow...

18 Breaking the ‘tomorrow’ addiction

Procrastination is a common theme in some business owners, Eugene Moreau reports on this widespread addiction...

22 Women in BusinessWoman have certainly made significant headway in the area of leadership in business but they definitely have a way to go. Amanda Wells...

26 Private Investment Pt 3A three part series on entrepreneurship, the investment process and the funding models. Jane Jeffery MEd

30 5 Marks of Authentic LeadershipMichael Hyatt shares on the 5 keys of authentic leadership...

ContentsISSUE 4

DECEMBER 2012

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mag.com

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Art DirectorNicole [email protected]

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misleading or erroneous material.

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INSPIRED BUSINESS

Managing DirectorMatthew Danswan

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Being able to touch so many people through

my businesses and make money while doing it,

is a huge blessing. – Magic Johnson

EDITOR’S LETTER

Welcome to Issue 4 of Inspired Business. Our last issue for 2012. It’s amazing how quickly the years seem to go by. The busyness of life and work is overwhelming. This time of year is about getting ready to wind up for Christmas and taking those well deserved breaks. During this time of relaxation and reflection we hope you enjoy this issue of Inspired Business. In this issue, Byron Marchant unlocks the keys to a successful SME business. Branding is often clumsy and misunderstood by smaller businesses, but used properly, your business will create a strong imprint in your market.

Also in this issue, Eugene Moreau breaks the

silence on a common addiction... the ‘tomorrow’ addiction. His insight and humour will certainly get you motivated to achieve all those goals you have set out for yourself and your business in the coming new year.

We also feature Jim Rohn and his ‘15 Powerful Success Secrets’. Great food for thought when it comes to your goals for 2013.

We sincerely hope you enjoy this free issue of Inspired Business and invite you to join us online at www.inspiredbusinessmag.com to receive your free subscription and join with us in helping you build a better Godly business.

Have a very merry Christmas and a prosperous, safe and happy New-Year.

Kind Regards,

Lynn GoldsmithEditor

18

06

6 | Inspired Business Issue 4 December 2012

It is well known within my industry [Marketing and Advertising] that a perplexing business challenge

prevalent in New Zealand’s SME sector is ‘Branding’. Companies are outgrowing their brands and not realizing that a poor brand is hampering their relentless sales and marketing efforts. In a desperate bid to stimulate their unproductive sales and marketing efforts business throw money and effort, followed by more money and effort at their target market. The conclusion is then reached that “Marketing does not work…”

There are instances when this type of high cost marketing does pay off. However, the referrals and new business stream-in only as long as your campaign or sales team is on the road. My article will serve to show that there is a better way. That it is possible to increase profitable awareness whilst reducing promotional wastage. It is time that small business NZ realises that our greatest sales agent, the one that works long after you have left the office and in places that you don’t have time and resource to send a sales force, is your ‘Brand’.

Consumers view a brand as an important part of the product, and

Branding

‘BRANDING’YOUR CRITICAL SUCCESS FACTOR!


Companies are outgrowing their brands and not realizing that a

poor brand is hampering their relentless sales and

marketing efforts

therefore a brand can add value to a product. ‘Brand Equity’ is the term we use to describe the value of a brand for both consumers and companies - and we will explore this later in this article.

Let’s define what a brand is. The word brand is derived from the old Norse word brandr, which means “to burn”. Brands were, and still are, the means by which owners mark their animals to identify them. The American Marketing Association (AMA) defines brands as a “name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of a seller and to differentiate them from those of the competition.”

Stephen King (WPP Group, London) follows the same line of reasoning concerning the difference between a brand and a product: “A product is something that is made in a factory; a brand is something that is bought by a customer. A product can be copied by a competitor; a brand is unique. A product can be quickly outdated, a successful brand is timeless.”

As well as the visual elements, a brand also covers the set of expectations associated with a product or service, which typically arise in peoples’ minds. A brand cannot only be seen as an identifier. A memorable name and a good image is not enough; a company has to deliver experiences.

There should be two approaches to branding;1. The first is to see the brand as

an identifier. The names, logos and slogans give the consumers awareness and a specific image.

2. The other approach is to see the brand as an experience provider, where the names, logo’s, slogans, events and other consumer contacts give


the consumers sensory, emotional, creative relations and lifestyles with the brand.

The truth is that every business, whether they realise it or not, has a brand that is shaping consumer perceptions about your product, service or the business as a whole. See your brand as a positive value or a problem to the company. Don’t be mistaken; one of these two realities is true about your brand!

Research shows that consumers are not only uninterested in marketing, but have an active hate towards it and would pay money to avoid marketing. With so many options in every industry and in every product line, consumers have reverted to trusting brands, not marketing messages when making purchase decisions. This is why strong brands win over unknown or poorly constructed brands. The sad reality is that nobody has told small business New Zealand this, so their efforts are still in throwing money at marketing and not on building their branding.

We live in an age of a sophisticated consumer. Branding strategist, like myself depend highly on the psychology that is available about these sophisticated consumers. Allow me to share insights with you, that if carefully and considerately applied, will pull you out of your industry pile and cause you to get noticed!

There are 4 types of consumer behavior that must be considered when developing your brand:

1. Rational behavior: If consumers have a rational behavior, they start

Profile

to get some knowledge about the product and what the market may offer. By evaluating the information they get an attitude towards the product and they act, either buying the product or not. This behavior is more common when consumers are buying expensive products like cars and other high-ticket items. This applies also to companies in the medical industry like general practices, physiotherapists, podiatrists, etc…

(Knowledge > Attitude > Action)

2. Unconscious behavior: When consumers have an unconscious behavior they start with an attitude towards the product and the attitude comes from emotions and feelings. From the attitudes the consumers find information about the product and from that they get knowledge. At last they have the action, their choice. This type of action is common for voting for politics and is also relevant to Churches.

(Attitude > Knowledge > Action)

3. Learned behavior: The

consumers’ impulses settle the choice of product. When the consumers choose a product they do not plan their choice; they do it by habit. This behavior usually occurs when consumers buy newspapers, clothes from clothing stores, food outlets, and other such small ticket purchases.

(Action > Knowledge > Attitude)

4. Social behavior: When consumers have a social behavior they choose the products depending on what social environment they live in. Their lifestyle, status and influence from others decide what product they will buy. Brands play a huge part in this consumer groups buying patterns. These consumers chose brands to reflect their social status, interests, income, passions, etc…

(Action > Attitude > Knowledge)

Building Brand Equity.As I have mentioned earlier in this article, ‘Brand Equity’ is the term we use to describe the value of a brand for both consumers and companies. Brand equity is

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It is sincerely a pleasure to share around one of my passions and specialisms as a business person. My journey in becoming a brand strategist begun out of a desire to better connect with people for the purpose of sharing the Gospel. I realized early in my walk with Christ that if I were to change some very practical things about me and my approach to people, that they were then happy for me to open a conversation about spiritual things. I am bi-vocational. Which means that whilst I have the joy of building a commercial business, I get to Pastor a Christ centered, bible based Church in the most beautiful corner or Auckland, the North Shore. I am a coffee connoisseur (modern vernacular for ‘coffee addict’) and always ready to share a café experience and a chat. So please feel free to contact me soon for a general chat or to dicsuss this article!

Find more resource on this subject on our website www.creativeco.co.nz

Contact Details: Byron Marchantemail: [email protected] | twitter:

creative_savvy skype ID: byronmarchant

therefore, a set of assets. Thus, the charge to build brand equity is an investment into these assets. The major asset categories are:

1. Brand name awareness2. Brand loyalty3. Perceived quality4. Brand associations

You must know by this point of the article that it is no longer enough to have a good-looking corporate or personal image. The question you should ask is; “Are we effectively parading our brand equity?”

You may have invested into marketing in the last 12 months, but can you show how you have invested into the very thing that is affecting peoples buying motivation and choice, Brand Equity?

Take a distinguishable step outside of the growing industry pile that you are in, and do what few others are prepared to do, build your brand!

Byron Marchant

mailto:[email protected]


1. Review Your PerformanceHow much effort are you putting into your actions today? When you take the time to stop and review your performance, you’ll probably realize that you can do better. You can always do better!

Jim Rohn made a good point when he stated to “always do more than you are paid for to make an investment in your future.” This is some of the wisest business (or personal) advice that you may ever hear because when you give more, you are gaining a sense of Universal credit which will eventually be deposited to you at some point time.

So no matter how much you currently give, review your performance and start giving more!

2. Face Your FearsFacing your fears is the only way

to totally guarantee that you finally conquer them. A wise man once gave the instructions to “do the thing that you fear and death of that fear is certain”.

So stop running from the things that you are afraid of and take a stand and look them dead in the eyes. Once you do this, they won’t be that scary anymore.

3. Exercise Your WillpowerI’ve heard some people argue that willpower just doesn’t work. I highly disagree with this because willpower is absolutely essentialfor getting the ball rolling when you’re changing directions in life. As a matter fact, there really isn’t any other method that’s going to work in this scenario.

Think about it for a minute; there isn’t anyone who is going to physically move you and get you going in the right direction but you. And it’s going to take a load of effort too; conscious effort to be exact.

You must consciously think about the change that you want to make in regards to the new direction that you want to go in and then summon up all of the willpower that you can in order to start heading in that direction.

4. Admit Your MistakesThe first step to making lasting changes in your life is to let go of your ego and admit your faults, defeats and errors. So when you screw up, the first thing you need to do is to take full responsibility for

Success

This was a great presentation given by the late JIM ROHN on the 15 challenges that can help you to go further, climb higher and conquer anything you want in business and in Life.


your actions no matter whom or what is involved.

Stop playing the blame game!You and only you are responsible

for everything that happens in your life. So you owe it first to yourself and second to others to admit your mistakes and claim responsibility for them.

Own your mistakes!After that, you’ll find it super easy

to move on in the right direction.

5. Refine Your GoalsNine times out of ten you’ll find that you set goals that just aren’t high enough and don’t force you to stretch to new heights. So sometimes you need to take a step back and set higher goals that force you to get out

...stop running from the things that you are afraid of and take a stand and look them dead in the

eyes. Once you do this, they won’t be that scary anymore.

of your comfort zone and achieve things that you really never thought were possible.

Refine and reset!Shoot higher and higher and

watch as you soar high above the clouds!

6. Believe in YourselfIn order to achieve a level of greatness in any field, you must believe that you can do it though matter what the circumstances.

You must believe 100% in your product.

You must believe 100% in your service.

You must believe 100% in your ability to overcome and conquer.

YOU MUST BELIEVE 100% IN YOURSELF EVEN IF NO ONE ELSE BELIEVES IN YOU!

It doesn’t really matter if every single person in the world tells you that you can’t; you must believe that you can! Jim Rohn hit the nail on the head when he said that there isn’t a skill that you can’t learn. So no matter what you need to do to keep reaching for higher levels of achievement, there is a way to acquire the skills and knowledge that will get you there.

Believe and Achieve!

7. Ask for WisdomQuit asking for Life to be easier! Instead ask for strength, wisdom, knowledge and everything you need to overcome your adversity.

I love it when Jim Rohn stated “don’t wish it was easier, wish you were better”. This is true wisdom

because asking for life to be easier never made anyone stronger, wise or simply a better person. Instead, ask for the tools, people, guidance, skills and strength to come into your life so you can overcome your obstacles.

You can wish all you want that the mountain in front of you will disappear but it will never happen. Instead gather the tools you need and scale the mountain!

8. Conserve Your TimeOne of the most precious valuables in the world is time. It’s something that’s indispensable because once it’s gone you can never get it back… EVER!

This is why you must make the most of every second of every day and never, ever, ever take one second for granted. When you make time to work,WORK! And when you make time to stop and smell the roses, savor every moment!

Productivity is essential for achievement so plan your work and work your plan swiftly and to the absolute best of your ability.

9. Invest Your ProfitsProfits truly are better than wages and they will make you a fortune. And the only way you can receive profits is by building a business. This is why I am a firm believer in starting up an online business. Practically anyone can learn the skills if they are willing and disciplined and through your online business you can create profits and then INVEST them in your future.

There are no profits in working a


JOB. The only profits that are there to invest are the ones that the company receives that you make for them.

Invest in your business.Invest in your education.Invest in your future.When you invest instead of spend,

you will compound your income.

10. Protect Your FamilyWhen I think of the phrase “protect your family” I don’t always see it as meaning physically protecting them from harm’s way directly. I am a firm believer in protecting your family by instilling knowledge and wisdom which will help them to avoid hardship, heart ache in the true dangers of this world.

Knowledge is Power and it is this same power that will fend off any potential diabolic deeds that lurk in this world.

Remember, give someone a fish and they’ll eat for a day; teach them how to fish and they’ll have food for a lifetime.

11. Live with IntensityThis is one of my favorites because

Success

Jim Rohn was a great motivational speaker and had an amazing ability to grasp opportunities to create wealth. His wealth creation ability was demonstrated when he lost over $2.3 million with the collapsed and subsequently became a multi-millionaire again.

it is a philosophy that I follow 100%. Everything you do, from brushing your teeth to closing a business deal you must do with 100% intensity. This means you put in every ounce of effort into every single action that you take. It means being aggressive by taking life by the horns and wrestling it to the ground.

Bigger!Faster!Stronger!So no matter what you do, do it

with all your heart and soul!

12. Find Your PlaceThe best way out of a situation is through it. So if you want to get out of the current job that you’re in, you have to go through it. This means that you must strive to give everything you’ve got to that job no matter what the circumstances are.

Even if you hate the job, the way “through it” is to view your current place as a stepping stone that will help to get you to wherever it is you want to be. With this type of attitude you’ll find yourself able to tolerate your current place in life because you are absolutely certain that there is a BIGGER and BETTER place for you up ahead in the near future.

Remember, it’s all a stepping stone!

13. Demand Integrity from YourselfAs you sow, so shall you reap.If you expect integrity from other people then you must first live with integrity yourself. This means that you must have integrity in your thoughts, your words and your actions. You must be a leader, always setting the example of what is right and just. Remember, you can’t demand something of someone else if you don’t in fact give it in the first place.

So be the best example of what you would like in return and that’s what you will get.

14. Welcome the DisciplinesDiscipline is the act of carrying out your plan of action precisely and elegantly, when it needs to be done and where it needs to be done. Discipline is what keeps you focused and on track when there are distractions in life. Discipline leads to consistency; and consistency ultimately leads to perpetual progression.

If there is one ingredient that cannot be left out of the recipe for success, it would be discipline.

15. Fight for What’s RightWhat would you do if the whole world was fighting for a cause that you knew 100% in your mind was wrong? This is reality because there are going to be times in your life that feel like this. And you must stand up and fight for what’s right even if you’re going against what seems like an army.

If you fight for what’s right, in the end, you will savor the ultimate victory. Truth, wisdom and integrity will always prevail. And above all, remember to always always, always keep faith and you will see miracles happen in your life!

So be the best example of what you would like in return and that’s what you will get.


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Cash flowFor a business running out of cash is much worse than a car running out of petrol. Even if more cash is obtained later it may be too late: customers may be lost, key staff may have left, the lease may be terminated and equipment may be repossessed.

You need to know the level of working capital required to pay for purchases, stock, wages, taxes, etc until cash is received from customers. The amount required will increase with increases in production and purchases.

An expanding business will be cash hungry. Don’t just plan to finance additional equipment or assets, you should ensure that additional working capital is obtained to cope with the extra operating costs until cash is received from customers.

Do not “steal” from your working capital to pay for long term assets like vehicles or equipment. This mistake has cost many businesses dearly.

Collecting from CustomersTraining customers to pay on time and follow up of late payers is important. Better still ask for deposits up front and at least one bank allows even smaller businesses to use direct debits to collect cash.

Having “Terms of Trade” contracts in place is like gold. It is difficult enough to collect what you are owed from customers (if selling on credit) so why make it harder by neglecting to put in place a “Terms of Trade” contract specific to your industry.

The Privacy Act can restrict credit checking and the sharing of defaulting customers details with debt collectors can be prohibitive unless the Terms of Trade shift these on to the defaulting customer. To retain title (ownership) of goods that are sold (so that they can be reclaimed in the event of non-payment by a customer) generally requires legal documentation to be in place in advance of the delivery of goods.

Accounting

BUSINESS AND

ACCOUNTING PLANNING

The following are some key areas that can be easily overlooked. They can carry a high price if overlooked ranging from being an underperformer to insolvency. David Lindsay


An expanding business will be cash hungry.

Don’t just plan to finance additional equipment or

assets, you should ensure that additional working

capital is obtained to cope with the extra operating

costs until cash is received from customers.


Accounting

ManagingIf you don’t measure it you can’t manage it, applies to any business. There will be key success factors that can be monitored regularly. Some can be monitored monthly and others daily or to suit.

It’s preferable to prepare financial statements for management reporting on a monthly basis or certainly by more frequently than once per annum.

Sales compared to budget or year to date (YTD) actual sales

versus last YTD giving a good guide as to business trends sales versus last YTD give a good guide as to business trends. Charting a graph to compare these helps to focus attention on fluctuations and provides early warning signs to managers.

Calculating key expenses and gross profit as a percentage of sales helps these to be managed, compared and explained from month to month despite sales fluctuating.

By dividing YTD or annual sales by the total of accounts receivable at any point in time will show on average how quickly collections are being obtained from customers. This product will show as the number of times per annum. Twelve times per annum means that accounts receivable are on average being collected once a month or within 30 days.

A similar calculation for inventory turnover can be made by dividing the YTD or annual cost of

ADVANTAGEOUS DISADVANTAGESS O L E T R A D E R

Losses (if any) easily accessed Simple & inexpensive to set up Private use of business expenses/assets e.g. car

adjusted on cost (lower than market or Fringe Benefit Tax calc). Same applies to partnerships

Blocks tax minimization, cannot easily profit split Lack of protection from creditors Before paying wages to spouse/partner you will need to obtain written

IRD permissionP A R T N E R S H I P

Losses easily accessed Inexpensive to set up Simple suits husband & wife Useful where creditor protection not required

Allows income splitting One partner can be liable for another’s debts Lack of protection from creditors

C O M P A N Y

Income splitting with family may be possible – salary, dividends, interest

Co. shares can be held by Trust for creditor protection Liability limited to company assets. Ideal where

protection is required May be able to avoid giving or limit giving your

personal guarantee Your Funds loaned to the business can be protected

by way of a registered security – see your lawyer

Higher cost of accounting than the above. Need for statutory registers and Companies Act compliance. Co. tax rate at 28% but can route income to individuals if at lower rates

or retain in co if on higher rates Imputation credits on dividends:

Recipients on low tax rates may be denied refunds they will need “other” income to utilise Imputation credits

Income Attribution rules. Look through Company (LTC) in return for shareholders being able to

claim the company’s tax losses they must guarantee any income tax will be paid.

Private use “paid” via FBT on market price, often high cost.

T R U S T

Tax savings can be substantial if trust income is expected to be high

Very flexible for income & asset protection e.g. lease assets to co.

Can offer asset protection from govt asset testing and preserves your estate

Losses locked in not accessible to individuals Trust Deed – to customize to suit specific needs Possible conflict of interest between settlor & trustees must select

trustees carefully Minor beneficiaries watch high tax on distribution if under 16 years of

age. Watch deemed settlors for tax Must distribute annual income by 30/9/xx unless Trust Deed permits

distribution up to 12 months after balance date


goods sold by inventory at any point in time. Because inventory ties up funds until it is sold, this turnover should be as high as possible.

Other liquidity ratios such as the working capital and acid test ratios are useful for identifying trends and as an early warning.

Calculating return on investment will enable the business’ rate of return to be compared with other alternative investments including bank interest rates.

The ratio of debt to total assets shows how high borrowing levels are. You will need to decide what level of debt is acceptable; a worsening trend overtime will require some “hard decisions” to be made, in order to stay in business.

Ownership StructureThe advantages and disadvantages of the four most common types of ownership structure are set out below.

It is best to adopt the required ownership structure from the start of business if possible to save transitional costs and to avert any appearance of tax avoidance (restructuring to avoid or reduce tax liability, the IRD can investigate these situations)

Companies – Legal RequirementsAll companies must be able to calculate their financial position at any point in time and must not distribute funds to “owners” ahead

of creditors. This is a requirement of the Companies Act and associated declarations / documents are required before distributions are made in order to protect creditors e.g. suppliers and lenders.

In addition decisions made by the directors of a company must be recorded by way of a resolution. Failure to do so can for example expose the directors to legal action and even force shareholders to repay salaries to a liquidator (if appointed).

Tax ComplianceBusinesses can face a range of taxes including (most commonly) Income Tax, GST, Fringe Benefit Tax, PAYE, and Withholding Taxes.

It is important to identify the taxes applicable to your business and schedule their due dates.

A very common problem is for a business to overlook paying tax in its first year of business. When the catch up comes, it is often in the second tax year, so it is faced with the second year tax liability also.

To avoid this tax can be paid voluntarily to IRD, paid on the shareholders salary via PAYE or saved in a separate bank account.

It is important to have an approximate idea of how the business profit / loss are progressing during the year and how much should be set aside to pay income tax. Profit / loss and GST can be calculated after business transactions have been processed using in house, cloud

software or by your Accountant.Taxes can be one of the larger

costs of business and the most difficult to calculate. Deciding on who should process business transactions and calculate the tax should be made when the business starts.

Choosing an Accountant who you can communicate with comfortably is important in this complex area. A proactive Accountant will bring to your attention tax planning and minimise the amount of tax that needs to be paid.

ConclusionTo manage a business involves balancing a variety of responsibilities. It takes time over and above working on the usual production and sales functions that can be all too absorbing.

Managing requires planning for the future and identifying the important aspects that should not be left to chance.

Fortunately help is at hand. Much can be delegated and professionals are on hand to provide guidance.

Seeking advice early will avoid legal, accounting and tax pit falls and maximise benefits for business owners.

Choosing an Accountant who you can COMMUNICATE with comfortably is important in this complex area. A PROACTIVE ACCOUNTANT will bring to your attention tax planning and MINIMISE the amount of TAX that needs to be PAID.


Breaking The

Let me introduce you to Emma Hooked. Maybe you know her yourself. Of course Emma’s

not a real person, but what Emma is addicted to is very real.

Emma is addicted to tomorrow. Let me give you a typical day in

the life of Emma.

Emma feels herself coming out of the shallow, restless night’s sleep and for a brief moment she experiences a surge of hope and exhilaration. That inner voice she converses with every day says to her, “Tomorrow is here!”

All day yesterday she’d been looking forward to ‘tomorrow’ and now; at last, it was here! For over 15 years Emma has lived in the hope that each tomorrow would be the day that she would feel fulfilled and her dream would be a reality! Emma has held on to this promise of tomorrow for years and every day, one after another she has been let down.

Emma is addicted to tomorrow. She goes through every day living and dreaming that tomorrow her life will change.

So, as Emma wakes up on this fresh, brand new tomorrow, she opens her eyes with the same hopeful expectation she’s had for a thousand yesterdays.

She goes through the morning routine and enters the rat race called ‘making a living’ and after a day of ‘sameness’ - evening turns into night.

Once again she begins to prepare for another tomorrow. As she goes to sleep she tells herself, “Maybe tomorrow things will change. Maybe tomorrow my boss will change and maybe tomorrow I’ll start to feel I’m living my dream - instead of simply surviving. Maybe tomorrow I’ll wake up and find that somehow, some miraculous way, all my debts, relationship, and identity problems will be solved. Maybe tomorrow I’ll have a sense of living a life of fulfillment and purpose.”

Do you see the pattern… Emma is addicted to tomorrow.

How does Emma break this addiction to tomorrow?

There are four steps to breaking the tomorrow addiction and in this article I’m going to share them with you.

Step One: Clarify Your DreamThe first step in unlocking a fresh, exciting dream for your life is to clarify your dream. This means you need to get it out of the domain of your imagination and declared in a succinct, written statement.

Without this statement your dream simply remains a fantasy, an abstract in your mind. The ‘Tomorrow Addiction’ is fueled by a lack of commitment to a written, clarified dream.

Here’s a profound question you

can to consider as you begin to clarify your dream: If I knew it would not fail, what would I set out to accomplish in the next 24 months?

Take a moment and reflect on these questions as you consider it.• Is there a latent talent you want

to develop and have never really taken that step?

• Maybe you’ve wanted to turn your creativity into a business for the last three years but you haven’t felt confident in doing so?

• What would you love to do with your life if you had the time and resources? Travel? Volunteer work? A craft or hobby?

• Is your dream to work in a certain profession or live in a particular place?

• Does your dream involve simple things like having more time to work in your garden, spend more time with family or friends, or have time for walks or to read books?

• Is your dream an event to help you reach your life’s purpose, one that may be completed in a few months, or it can be a lifelong pursuit?

Overcoming the Tomorrow Addiction starts with this step: clarifying your dream. And clarifying means writing it down, getting it out of your imagination.

When you clarify the dream you have a unleashed a powerful

Motivation

‘Tomorrow’ ADDICTION


The ‘Tomorrow Addiction’ is fueled by a lack

of commitment to a written, clarified dream.

motivator, which enables you to start making changes in your life – today!

Step Two: Think Small Steps Rather Than LargeSo, you’ve clarified your dream and you want to get started pursuing it but don’t know how? The most common mistake is thinking that only large steps and big actions is the only way to break the addiction to tomorrow.

Think again! 1. The most effective way

to break the addiction to tomorrow is to think small steps. In other words, once you have clarified the dream then you sit and answer four questions:

2. What are the three most important things I ‘must’ start doing that I am not doing now – so I can start pursuing my clarified dream today?

3. What is stopping me (obstacles) from doing these three things?

4. What must I start or stop doing in order for me to overcome these obstacles?

5. Who do I need to connect with, as a support companion, to help me overcome these obstacles and start pursuing my clarified dream?


Answering these four questions starts the dream pursuit process and helps you begin the process of narrowing the focus even further.

Step Three: Narrow the FocusWhen you narrow your focus you enable yourself to dwell on what you want rather than on what you don’t want. The more you think about what you want the more of your mental capacity is assigned to ‘get what you want!

If you think about something long and often enough it eventually dominates your thinking and affects your behavior.

Let me give you a personal example. Recently I’ve come face to face with a particular issue that has been both perplexing and potentially destructive to me for some time. In fact, I will go so far as to say that unless this issue is resolved – rather smartly – then I will be a position of devastating damage in a very short time.

The other day – while focusing on this ‘problem’ – I came to this I realization: I am actually getting the right answers to the questions I am asking! The problem was not the answer!

The problem was the questions I was asking. I was not asking the right questions and as a result my ‘problem’ was not being solved – no matter how hard I worked at it and how right I was.

When I took the time to go back and clarify my dream and start thinking small steps rather than large and then narrowed my focus by asking different questions I was able to see that I was simply going about the achievement of my dream in the wrong way.

This leads us to the final step in overcoming the Tomorrow Addiction.

Step Four: Work on Your Dream

A dream is like a garden. It needs to be nurtured for growth. Very few gardens produce their true potential and worth without this nurturing.

There are two essential nurturing tips I will leave with you here.

1. Ban The Word ‘should’ From Your Vocabulary.

For many of us, the word should is one of the most commonly used words in our vocabulary. “I should do this, or I should do that” “I should have gone to the gym” - or “I should really take this trip.”

For those addicted to tomorrow the word ‘should’ plays a controlling role in everyday life.

In fact, it becomes so normal that it become invisible. ‘Should’ exists in the background of the mind, directing choices and decisions.

Saying the word ‘should’ can make a person feel miserable and guilty. It stops a person from focusing on the clarified dream by imposing an outside set of priorities.

So, use this simple two-step model to help you ban the word ‘should’ from your vocabulary very time you catch yourself saying the word ‘should’.

Step One: Every time you catch yourself saying the word ‘should’ – STOP!

Step Two: REPLACE with either I WILL or I WILL NOT.

By following this process, you will notice that you will stop saying should and will or will not do what you need to do to break the Tomorrow Addiction.

2. Eliminate Defeating BeliefsWhat you think either propels you forward or keeps you stuck. Limiting and negative thoughts, about you, your abilities and the possibilities open to you - are best described as defeating beliefs. They are often very simple, even simplistic, yet they can

have a profound effect on your life. To liberate yourself from defeating

beliefs you must first identify them and this means to pay attention to the rods you speak.

Often a defeating belief lurks behind an excuse or a fear-particularly concerning the things you are most passionate about. “I’m too old to start this now.” “I won’t be able to make any money doing that.” “I have to be in much better shape.” “I don’t have time.” “It will never work.”

When you explore your excuses and fears, you will discover your defeating beliefs and be able to create a plan to eliminate them.

In closing...Don’t let tomorrow lure you into its addictive habit. Start today and clarify the dream, then think small steps not large ones and follow that up by narrowing the focus and finally work everyday on your dream.

Motivation

Eugene Moreau has over 22 years experience of helping people unlock vision, inspire passion and achieve significant corporate and personal transition. He is a Certified Master Coach (CMC) from the Behavioral Coaching Institute of Australia and an author of three books, as well as being respected and sought after conference and motivational speaker. You can subscribe to the Dare To Dream Again Blog, and read more from Eugene when you visit his website: www.unlockvision.moreaucommunications.com

http://www.unlockvision.moreaucommunications.com

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We are in an incredible hour in history which is especially

significant for women! In this hour women will find favor and have great influence in places such as the corporate, governmental, business and entrepreneurial marketplace. This is the era in which God is visiting women with a freshness, and empowering them for new assignments.

Women were created to be unique carriers of God’s Presence and influence wherever they are; at home, church or in the marketplace, and since the beginning of time, have had the ability to attract people and resources and have tremendous influence in any given sphere, so as to release His Kingdom.

Unfortunately in modern times they are the most overlooked, but have always been the most

Women

Woman have certainly made significant headway in the area of leadership in business but they definitely have a way to go. AMANDA WELLS investigates...

powerful component of every revival, transformation or reformation.

Throughout history, even dating back to Bible times we can see where women have been the catalyst for financial and ethnic rescue of many nations, but sadly they still remain the unrecognised quality, that has improved the economic strength of nations, and increased resource and trade in nations.

If we look at the statistics today we see a great need for a reformation in the marketplace for women. Though women have gained much ground we are still not seeing the progress we should. In Australia women have held only 8 per cent of key executive management positions. South Africa leads here with 21% of women in executive positions, but this then falls as we see women who sit as CEO’s and in corporate leadership drop to 3% in South Africa and in Australia. Israel leads with 5% of women as CEO’s, and a huge 30% of the 47% women in the workplace are in executive positions!

If we look back at history in the Renaissance and the Protestant Reformations it shows us that it was the women who took advantage of the new found political and religious freedom. As they became aware that Europe needed an alternative economy to replace feudalism, they created a new one through capitalism and trade. It was the Jewish women in this era whose economic power sparked the reformatory change.

Luther, who is largely hailed as the leader of the Reformation, preached that women should be uneducated and in the home. The Jewish women who had listened to their fathers read the Torah every night, knew the story of Zelophehad’s daughters, who had argued the law

of inheritance for women if there was no male heir. They also knew of Deborah, Esther, Junia and others, and therefore could see there was no religious reason why they could not run a business and have commercial dealings. These Jewish women as they became astute in their dealings, soon began to loan their Christian women counterparts money for businesses, real estate and trade. As a result of the increase in these business activities, Jewish women became educated and held a strong presence in the legal system to become Europe’s strongest moneylenders so as to allow fairness in a feminine economy, as women had less access than men to productive resources, services and opportunities, and the failure to value their work limited their bargaining power in economic transactions.

When we look at today’s statics of women in the marketplace we have to ask; is there something we’ve missed? Have we overlooked the huge influence of women during the Reformation and the changes they brought to Europe in economy and trade, while we have have majored on the religious and piety side of the Reformation?

Does the Bible hold the key to the true place of women in politics, trade and societal change? I believe it does, and perhaps in our quest to findthe ‘spiritual or religious’ side of the stories in the Bible, we missed how women and men not only understood their assignments, but also shaped spheres of influence, and brought societal transformation!

By seeing Deborah as just a prophetess, we missed the fact that Barak (not the coward he was made out to be) inducted her into the army and the political sphere and


then she fought alongside him. As a prophetess she had no legal ground to fight in the army, therefore she submitted to Barak as her general. Esther, a young orphan, entered the palace and was able to influence the king in saving the Jews and inheriting part of the Kingdom. All these women, Zelophehad’s daughters, Deborah, Esther and others, did not just pray for change, they understood an amazing principle - that to penetrate a sphere of influence you have to have a position in that sphere, and be authorised to rule in that sphere.

God has given us the ability to solve problems and the anointing to deal with problems but we must have the position to apply both. David understood this as he did not take out Goliath as either a shepherd boy or a king, but as a newly inducted soldier in Saul’s army! He was authorised by Saul to enter the governmental sphere. He could have used his slingshot on Goliath when he was delivering sandwiches to his brothers, but to have power you need the authority of position.

Proximity is power, and the power to access can become the power to influence. Deborah had to ask Barak to go with her, because he was the general, and she needed to be inducted into the army and under the authority of the army’s general to have the power to influence. When the enemy met Deborah, Esther, and David, he met God in a suit or a dress. You cannot bind the strongman from around the corner – you have to go into the strongman’s house to plunder his goods and divide his armour. It is a spiritual law that the lesser authority must yield to

the greater authority.However, until the greater

authority shows up and presses the issue, the lesser authority will dominate.The Jewish women in the Reformation understood this principle and knew if they wanted to change the nation then they had to be on the front lines in the spheres of government and business, not where religion and culture had tried to keep them locked in.

A Christianised city or nation doesn’t necessarily mean a transformed nation. If you were to take the key indicators of sociological change, i.e. divorce rate, alcoholism, juvenile delinquency, the ability of the poor to get into the middle class etc., it tells you that the church is not utilising it’s power to transform the city at this point, and certainly the women are not being unleashed.

The leverage to change the world isn’t in the church. It’s POTENTIALLY in the church, but it doesn’t show up unless the church is unleashed in all the spheres of influence. The Deborahs, Esthers, and Davids need to engage the enemy in the spheres where God has ordained an assignment for them, and the only way to do this is to have the power of proximity within them.

The question today is not can we as women rise up and transform our economies but will we? Will we accept the assignment God has given us and break through the barriers set upon us, and like Deborah, like Esther and like Zelophehad’s daughters, access God’s agenda, strategy, and authority to administrate more territory and release His Kingdom wherever we are.

Amanda lives in Australia with her husband Roger. She is a life coach with three tiers of coaching and has her own business. Amanda has joined with Caroline Marsh and created GEM WOMEN which is dedicated to inspiring, educating, and empowering aspiring entrepreneurs, and showing women who have the drive and hunger to change their lives for the better, that the power to achieve that goal lies within them. www.gemwomen.comwww.amandawellsministries.com

Women

THE QUESTION TODAY IS NOT CAN

WE AS WOMEN RISE UP AND

TRANSFORM OUR ECONOMIES BUT

WILL WE?


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There are every few enterprises that can be developed to their full potential without funding from outside sources. Cash flow savings and loans from friends and family are limited and may not be available at critical times

The various sources of funding have been discussed in previous articles. These are funds available through well established networks. The conditions for the allocation for these fund and repayment where required are well documented. The conditions are clear to both sides of the investment process. Contracts are signed and both side of the agreement know what to expect and what is required of them.

However, less clear and more risky are investments made by individuals to an entrepreneur who may be a friend or acquaintance. All too often a situation arises where funds are needed quickly. A friend may be approached and an attractive proposition made. Because the funds are needed quickly terms and conditions may not be clearly established. A lack of financial literacy may cause confusion as well as not fully understanding the legal responsibilities.

For many the prospect of running their own business is a dream, it may even be a God given dream. They commence the process expecting an easy ride and ill prepared for the difficult times. Others may see the potential of the proposed business and the business owner and have a desire to help. They may be so excited by the prospects that there is a desire to invest in the proposed business venture. There is also as expectation of financial return. The term investment carries with it the expectation that funds will not only be returned but that there will also be an increase.

At this point let me sound a word of caution not to say “don’t do it”, but do it with your eyes open. Fully understand the risks and establishing legally binding conditions

All too often as Christian we do not look carefully enough at the details and end up in situation which spoil the reputation of the church and dishonour God. Money payments, rights and responsibilities can bring out the worst in people. Even those we know well and worship with on a regular basis can show an unknown side of their character when there is a feeling that some thing is owed.

PRIVATE INVESTMENT

A three part series on entrepreneurship, the investment process and the funding models.

… JANE JEFFERY MEd

Investment

PART THREE


Freindship can be damaged beyond repair.

As Christians every activity we are involved in every action we take must give glory to God. This is also applies to our funding. How we use it and how we use other peoples property.

This is not to say that we should not help others financially, but should do it knowing fully what we are committing to and what is expected by each side of the agreement

When considering the use of our funds let me make one thing very clear. The first 10%, the tithe belongs to God. The more I have learnt and experienced tells me that this means it goes to the fellowship we worship with. There are no excuses; we can make no conditions with God. The tithe goes into the storehouse of God, the place where we worship Him.

The part that is available for investment is the part that is set for discretionary activities. However, even this must be used wisely and that is the whole purpose of saving and investing is to increase the funds we have available. To give a bigger tithe to give, a better lifestyle, more opportunities and security for the future.

If after careful and prayerful considering the decision is made to make a private investment some point need to be considered. This is by no means a complete list and legal advice should be sought before

making the commitments.1. Obtain a clear and accurate

picture of what the funds are for and how they will be used and accounted for. The investment in the business, to grow the business. It is not to fund the lifestyle of the entrepreneur or business owner.

2. Gain a clear understanding of what the business is. The products or services, the risks, competition how long until cash flow starts or increases

3. How does the business operate, who are the employees, what are their responsibilities what expenses and debt does the business have. Do not invest in a business if the taxman or creditors are knocking at the door.

4. Establish how you will be repaid for your investment, will you be a share holder and will this entail further funding as the company grows. Is it a loan that will be repaid with or without interest and when. Other forms or payment may be available however it is important to have a legally binding contract.

5. Where do you stand in the line of creditors? Should the business fail and the assets are sold to repay creditors where do you stand, Remember banks, taxes and creditors have priority over you.

6. If IP Intellectual property is involved is this secure and owned by the business owner or

Investment

Private investments have the

potential to be one of the most

exciting adventures you have ever

embarked on or your worst nightmare

the company7. Does the business owner have

business skills or are they willing to attend courses and seminars to gain these skills

8. Is there a business mentor in place or could you act in this capacity. Remember that just because a person has worked in a large corporation they may not actually know how to help in the start-up phase. The above points are just a few

of the many questions that must be asked before making a private investment. Every investor must clearly understand what they are committing to and what they want in return for the investment. Be very clear before getting involved and ensure that there is a legally binding contract in place.

Private investments have the potential to be one of the most exciting adventures you have ever embarked on or your worst nightmare. Like any adventure it is all in the planning, understanding and minimising the risks and knowing what you are doing.

Jane Jeffery MEdCIB Ventures may be able to

assist in the connection and due diligence process for the private equity investors. Jane Jeffery M

0400955104 email [email protected]


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Through practical advice and inspirational examples, this book will help you grow your business and brand to heights you may never have thought possible. But the man who helped steer the phenomenal growth of Gloria Jean’s Coffees in Australia warns that success is not just about being the best and making the most profit. It’s also about taking the people around you--your family, staff, customers and community--on the journey with you.

Peter Irvine integrates deep life truths with personally-proven business principles to enrich your business, your people and your life. Peter unravels the myth that business and family don’t mix. He challenges you to a more rewarding life by involving your family in your business and vice versa.

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Many people have written on what it means to be a leader. Almost everyone identifies influence as the primary characteristic. By definition, this means that leadership and position are two different things. You can have a title, and a position of power, but this does not mean that you are a leader. Even people without these things can exert influence and thus leadership.

But leadership is more than influence. It certainly includes influence, but it is more. I believe it includes at least five characteristics. When I speak on this topic, I call these “the five marks of authentic leadership”:

Authentic leaders have insight. Sometimes we refer to this as vision, but that usually has exclusive reference to the future. While leaders must have vision, they need more. They need wisdom and discernment.

They need to be able to look at complex situations, gain clarity, and determine a course of action. In the Bible, “[The] men of Issachar ... understood the times and knew what Israel should do” (1 Chronicles 12:32). This is what I mean by insight.

Authentic leaders demonstrate initiative. They go first. They don’t sit on the sidelines. They don’t ask

others to do what they are unwilling to do themselves. Instead, they lead by example. Lt. Col. Hal Moore is a great example of this. Famously depicted by Mel Gibson in the movie, We Were Soldiers, Lt. Moore told his troops, before leaving for Vietnam.

We are going into battle against a tough and determined enemy. I can’t promise you that I will bring you all home alive. But this I swear, before you and before Almighty God: that when we go into battle, I will be the first to set foot on the field, and I’ll be the last to step off. And I will leave no one behind. Dead or alive, we will all come home together, so help me God.”

Authentic leaders exert influence. It’s no coincidence that influence and influenza (the flu) come from the same root word. Real leaders are contagious. People “catch” what they have. People are drawn to their vision and their values. They are able to gather a following and move people to act. To change metaphors, they are like human wave pools, creating a ripple effect wherever they go.

Authentic leaders have impact. At the end of the day, leaders make a difference. The world is changed because of their leadership. They

are able to create real and lasting change. Unless something has shifted, they aren’t leaders. They are only entertainers. There is a big difference. The measure of leadership cannot be found in the leader; it is found in the impact the leader has on his or her followers.

Authentic leaders exercise integrity. Not every leader is benevolent. Adolf Hitler was a leader, as was Mao Zedong and Josef Stalin. They had insight, initiative, influence, and impact. Yet their lives were not integrated with the highest values. Integrity—or the lack thereof—ultimately determines the quality of a person’s impact. In a sense, this is the foundation of authentic leadership.

Leaders must be deliberate and intentional if they are to be successful. These five qualities can guide us as we grow in our ability to lead.

Michael Hyatt shares on the 5 keys of authentic

leadership...

Flexibility


Michael Hyatt is the author of the New York Times bestseller, Platform: Get Noticed in a Noisy World. It is also a Wall Street Journal, USA Today, and Amazon bestseller. He is also the former Chairman and CEO

of Thomas Nelson Publishers. www.michaelhyatt.com

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Inspired Business Issue 4 December 12

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Transcript of Inspired Business Issue 4 December 12