Fourth Quarter 2014

            In a recent discussion with a retail business owner he spoke about an issue we all have to face. How to have enough to cover costs, provide an income and provide a return on the money invested into the business.

            Whether your budget is for a home, small business or even a large business there are some keys that are critical to financial survival. In this case it was the cost/overheads of the business. The figures were quite staggering in comparison with size of the business. Larger enterprises having a larger turnover and can more easily absorb these costs.

            What was surprising was the thought and research that had been put into the business to maintain it’s long term viability. Part of that strategy was his wife’s income that supported the family. While they may not have seen it as such they had actually hit on one of the key principles of financial security. That of developing multiple sources of income.

             This highlighted the simple fact that many of us are working in survival mode, whether we like to admit it or not.  Without long term goals and objectives it’s impossible to determine if our day to day actions are leading to a secure future or are we simply surviving from day to day.

            Having a vision and applying goals with steps to their achievement make each action measurable. A positive outcome is built on many small individual steps or actions. Each one leading to a successful day, week, month, year and ultimately lifetime.

            So the question becomes ‘do I know where I want to be three years, five years or even ten years from now’? It shouldn't come as a surprise how many opportunities simply fall into your lap when there’s a ‘destination’ we’re aiming for. You'll immediately recognise it’s relevance to your objectives and it comes with seemingly very little input apart some time and awareness.

            So with the final quarter of 2014 just a few days away there are four important questions that need to be asked;

            What to I want to be, do and have in five years time?.

            Have I made progress towards my primary objectives this year?

            How can I change and improve the outcomes for the final quarter?

            What additional resources are needed to move to the next level?

            Many things are achieved just before the finishing line. Knowing where you’re headed, being able to see it’s progressive development leads to having the feeling of peace and security that comes from knowing you’re on the right track.

             Take some time to lay out your plan for the final quarter of 2014, create steps that can be followed daily and be amazed at how much your life can be changed in the next three months.

A Well Researched Plan.

How many of us have ideals that we want but never get off first base because we feel we don’t know the next step or doubt that have what it takes to get there?

This is where delaying gratification can create lasting results.

In the eighties a single mother had made the difficult choice of leaving her profession while her children were very young. She rationalised that divorce was not going to deprive her children of a sound home and foundation in life.

Part of her strategy was first to ensure that the family home, which she had built in nineteen seventy six, remained just that. Even though funds were low she devised a strategy to not only ensure that the home and family were secure, but also took steps to improve her position.

Her philosophy is very simple and remains to this day, if you don’t have the cash to pay for it then you really can’t afford it.

Starting with pen and paper she identified things that would improve not only the quality of life, but also her financial standing. Some were very simple, some involved doing what needed to be done starting with a small house cleaning business.

In the ten years away from her career she raised her children, kept the home through interest rates of almost twenty per cent, did further studies adding to her professional standing and started two home based businesses. One of which she still operates very successfully today.

Moving forward from the eighties to the present day the same home the children were raised in  has been renovated with the most up to date, energy efficient fittings that you would expect to find in a brand new, upmarket apartment.

She also works part time, has used another very difficult passage in her life as source material for a book* and looks forward to a very secure retirement. Largely because of the vision that came from planning and looking for answers.

All of this has also lead to a vision for projects that will be a significant part of life beyond retirement. It's worthwhile noting here too that the children benefited from her example as well. Her son has his own home and with his partner is building a career of his choice through part time studies. Her daughter works part time while studying for a career that she knows will be fulfilling and provide a good income.

The significance of all of this is that all three have well researched, written goals and plans.

Small Changes, Huge Results.

We're rapidly approaching the middle of 2014 and the end of the Australian financial year. The federal budget was handed down this week and no big surprises that it has been a tough one. But, and this is a very big but, we don't need to be drawn into the shock horror distraction that the budget and the media want us to.

Several years ago at conference in Perth, a highly successful American Dean Kosage spoke about getting left behind with the dramatic changes that are occurring on a global business front.

How's the year looking compared with how you thought it would back in January? Or any of the five years before that. For many of us the picture isn't quite the same. For a fortunate few it is actually much better.

So what is it that these fortunate few are doing that many of us aren't. They are obviously doing something different. They understand that definition of insanity that is doing the same thing over and over again and expecting something different to happen.

Basically something has happened that's caused a shift in thinking, a shift in the way things are seen and done. Imagine that how different your life could be with extra income or more precisely cashflow. For many that means extra work and being already tired from what we're doing now.

Think too about the amount of change in the way thing are done and the regulations that govern our lives. A few years ago a federal politician said that if you have enough money (cashflow) it doesn't matter who's governing the country. In many ways he's right.

There is no formal training in handling our money and usually it's just bits and pieces we pick up along the way that forms our plans and ideas. The best way to succeed at anything is to learn from those who've already succeeded.

Economic Vision was written at the outset of the Global Economic Crisis in 2008 and provides a simple, understandable way of becoming financially secure.

I look forward to meeting with you and your community members in the near future.

Kim Stedman

Learning to Succeed

Writers sometimes experience a thing called 'writers block.' This is that time when you're stuck at a certain point and can't seem to move forward, not even a single step.

Many of us experience something similar at various stages of our lives. Fellow author John White (author of No Bars Hold) is also a counsellor and therapist. His view on things that stop us is generally a lack of skills. Once we have those skills we can overcome most things.

Kathleen O'Dwyer, former teacher and author of 'Stressed, One Woman's Story' says that in her teaching career the first objective would be to instil in students a passion for learning. Then teach them how to access the information.

Occasionally sitting in on classes that she was ran was insightful, often with there being many lessons within lessons.

All the time teaching skills that enhanced the students (5 to 12 year olds) aptitude and attitude. Learning is not a right nor is it something to be taken for granted either.

There is a lot of dialogue over the benefits of schooling in the various systems which are generally either run by government or vested interests, including religious orders.

Both have their place as one size doesn't fit all. One student, having made the transition from a regimented school to a more pastoral one, blossomed at age sixteen to go on to become highly successful in his own business in his chosen field.

Another apparent benefit of the pastoral system became apparent when he became a parent.

One of the greatest skills we can learn is the improvement of our minds.

My passion for learning came later in life and thankfully it was as a result of a dream and vision to lead a better life.

By products of a well rounded formal education, continuing to learn about ourselves, how we operate and interact leads to a much greater self assuredness in both the workplace and in society in general.

Knowledge is not hard to carry. From a pool of knowledge and experience we gain wisdom and eventually become intuitive. The great benefit of this is that it frees up time and thinking space. This in turn can lead to greater inspiration and creativity and ultimately a higher, more satisfying quality of life.

As little as twenty minutes a day means a book a month providing the ability to learn from others knowledge, experience and wisdom.

This is where real lifestyle begins.

Lifestyle, while it means different things to different people has certain elements that mean a richer quality of life. There's a familiar story of families falling apart through neglect brought about by an overemphasis on vocational activities.

Human needs are both broad and diverse and learning what makes us, our partners and families tick really well is largely about balance. Love is spelled 'q-u-l-i-t-y t-i-m-e'. Same goes for fun.

Quality time from the very young to the very old enriches the lives of all concerned. The added benefit is the two way passage of love and affection. It is the setting aside of the contents of our mind

Review Time

       Here we are a quarter of the way through 2014. How's the year looking compared with how you thought it would back in January? Or any of the five years before that. For many of us the picture isn't quite the same. 

       For a fortunate few it is actually much better. 

       So what is it that these fortunate few are doing that many of us aren't. They are obviously doing something different. They understand that definition of insanity that is doing the same thing over and over again and expecting something different to happen.

       Basically something has happened that's caused a shift in thinking, a shift in the way things are seen and done. Imagine that how different your life could be with extra income or more precisely cashflow. For many that means extra work and being already tired from what we're doing now.

       Think too about the amount of change in the way things are done and the regulations that govern our lives. A few years ago a federal politician said that if you have enough money (cashflow) it doesn't matter who's governing the country. In many ways he's right.

       There is no formal training in handling our money and usually it's just bits and pieces we pick up along the way that forms our plans and ideas. The best way to succeed at anything is to learn from those who've already succeeded. 

       Economic Vision was written at the outset of the Global Economic Crisis in late 2009 and provides a simple, understandable way of becoming financially secure.

        One of the seven keys of financial security and freedom is to review your current situation and take a few minutes to consider how you're doing now in comparison to how secure you want to feel and be in the future.

        In the next few months Economic Vision will be in communities around Australia presenting ways to change the financial security for you and your family. A good starting point is to review the basics and see how you can enhance your life from here on. 

        Kathleen O'Dwyers 'Simply Brilliant Budgeting' is based on the practical experience of a teacher who found a better way and became an entrepreneur.

         Economic Vision, the foundation of personal financial freedom' is based on principles that have been used by successful people for generations. It provides the 'how to' build security and success from the ground up.

       I look forward to meeting with you and your community members in the near future.

A New Year

 So 2013 has come and almost gone. In this time between Christmas and New Year many take the time to review the year that was and plan coming year. This is the perfect time as there are generally less demands plus there's that expectancy that the next year will be better than the last.

A few ideas that will help is to firstly start by forgetting the year that was. It's gone and there's nothing you can change about it. What can be changed however are the outcomes you're wanting in your future.

Now with a pen, a pad and a cup or glass of your favourite beverage identify what you would like to see on your list of achievements at the end of 2014. These are not just financial either. Add the things that make life meaningful. Health, love life, travel, personal growth, friends you'd like to visit, places or events you'd like to travel too.

The part that makes it interesting is who you'd like to have involved in these goals and ideals including friends, family, business colleagues. As for the places and events these are virtually limitless, but to make the most of them is to be prepared and have the time and health to enjoy them.

In setting goals it's always good to raise the bar, to be able to see improvement in the end. There's an old say that goes, if you're not moving forward then you're gong backwards. Plan for more happy things and don't forget to add rewards for your achievements. Rewards are a great way to remain motivated.

Have the plans written down somewhere that you can read them regularly as repetition is one of the best ways to convince your mind that they are real and achievable, as well as fun. Having plans is a great way of measuring the progress towards the goals and dreams that, on their achievement, will add significantly to your life.

Finally, be grateful for what you have. Make a list of thing you're grateful for now, read it often and you'll find it becomes a great mood lifter.

I'd like to wish you a happy, prosperous and successful year in 2014.