What’s happening in the forum?

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There’s plenty going on!

  • Kate got a good solution to her product pricing (am I actually making money?) problem
  • Narelle has started saving for a home deposit more because she has a simple budget tool to use
  • Audrey read one of the many insider articles, ‘How much life insurance is enough’ and realised that she was leaving her two kids unprotected
  • In the meet-up room, Narelle asked Kate to give her more information about her natural pain management products

Ask the most basic of business questions or financial planning questions and get a straight answer.  The best part is – it’s not about product, it is only about expert unbiased advice.

Join MyProsperityForum today and boost your money making skill

Follow @MyProsperityFor

Do you attend too many meetings?

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Business management tips Australia

In my view, there is an inverse relationship between number of meetings and increasing profit.  In other words, more meetings less profit!

A lot of time can be wasted each week with so-called business meetings.  I think meetings that don’t have a direct link to key financial objectives are useless.  They serve little purpose other than making participants feel busy and included.

It has been my observation that universities and public service organisations thrive on them.  Quite often an organisation’s entire decision making system can be based in a system of meetings.

Even though these organisations have to operate inside budgets and pay their way, no individual’s income is directly affected by the meeting outcome.  The only purpose seems to be one of accountability and equity.  That is, everyone knowing what’s happening; everyone having their say and keeping as many people as possible happy.

In the real world, a meeting where the underlying purpose is not somehow profit-driven is unproductive.  No innovative and profit-oriented business in the private sector can stand too many meetings.  In fact, most meetings tend to actively stifle innovation and therefore profit.  The larger the group, the less likely is change.  It called the comfort zone.  It is a worrying trend that this tends to happen when small organisations grow larger.

The only worthwhile business meeting is one where the income of one or both participants depends directly on the outcome.  Anything else is pure and unadulterated shooting the breeze and communication alternatives should be considered.

Dinosaur businesses face extinction

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Business planning and management Brisbane

Just as sudden impact and environmental changes killed off the dinosaurs of the past, the GFC has exposed fundamental flaws in outdated business models, and the dinosaur businesses of today continue to reach extinction.   Financial institutions, book stores, property companies, electrical and clothing retailers and department stores (to name a few) are all feeling the squeeze of rapidly changing environment because they are stuck in the past and cater to demands of a bygone era.   They violate one of the fundamental principles of business.

“If you can’t lead the market, at least meet it. If you don’t adapt, you’ll die!”

This is first principles stuff taught in 1st year university business courses.   It’s right up there with revenue being higher than expenses.  It is true that only a few people get to change the world but the rest of us should at least make an effort to keep up.

Are we really connected?

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Business building Australia

When the first black and white television sets appeared in the windows of the local hardware and electrical store, I joined family and neighbours on the footpath after closing time and stared through the shop window in amazement.  Now, in the digital age, there is barely a household in the country that doesn’t have one or two big screen TVs.  The internet, the mobile phone and now the iphone mean that we are connected to the entire world.

But we are not really connected; not in the old fashioned sense.  What we now mean by ‘connected’ is that the whole world and most of the information in it is available to us electronically at the click of a mouse.  Yep! I even remember when the word ‘mouse’ had only one meaning – the little furry animal with a long tail.

Even though a business will not survive in the future without an internet presence, business is still all about people.  There is still a need for human connection.  It’s built into our DNA.

You must check out this website!

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MyProsperityForum is one of the most innovative websites ever.  If you are interested in your own prosperity, you can join the forum and ask questions about anything to do with personal finances or business planning.  This includes budgets, debt, investment, insurance, superannuation, retirement, insurance, or even starting a business income.

The beauty of this forum is there is not the usual product push or pressure to fork out money for a financial plan.  It is a safe place to find out how to get ahead financially; and there is always a financial planning expert on hand to answer your questions and guide you.  This site is perfect if you’re a DIY, don’t want to spend lots of money, or if you just want to learn to be better with money.  There is even a private message service if you want to ask a silly question.

There are heaps of great articles already posted in the forum.  To name just a few:

  • The ugly truth about ‘no medicals’ life insurance
  • Improve your personal finances – 10 ways to get started
  • The power of a good risk insurance adviser
  • Putting money away for the kids
  • My top 10 tips for a prosperous retirement

Just in case you don’t get enough value from having a financial expert to yourself and reading the plain English articles, there is also a 220-page e-book called “Recession Riches and Wealth”.

I strongly recommend you check out this unique forum www.myprosperityforum.com

Open mind and constant learning

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Business planning and management Brisbane

Most people in business weren’t experts, or even experienced, when they started.  They spend the early years learning the basic techniques of business.  They make the same mistakes as everyone else and become distracted putting out fires.  It is the school of hard knocks and there is no safety net. Many survive and some don’t.

Those who survive learn from the early years.  They refine their art over time.  They keep the routines that work and discard those that don’t.   Experience helps them navigate the minefield of adversity, errors and setbacks.  They develop a well practiced way of doing things that can be shared with others.  It may not always the best way but it is a way that works for them.

The best in business are the explorers and the curious; those who keep an open mind and are always willing to learn.

Business building wisdom

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Success, good fortune, flourishing health, wealth and happiness!  That’s prosperity.  It is so much more robust and satisfying than merely being rich.

A true peace of mind product

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Business management tips

Is there really a product or service that offers peace of mind?  In the conventional sense, there are plenty that represent one less thing to worry about.  But actual peace of mind – the type with calmness and peacefulness without dissension, distraction or self conflict?  Not so many!   Martial and meditative arts spring to mind.  Regarded as leisure sports and pastimes by those that don’t practice these arts, I would recommend them as first class ‘mind development products’.

More specifically, their practice actively engages a process of developing a strong and positive mind.  For me, the art is Aikido, a subtle Japanese art commonly referred to as the art of peace.  It is actually the art of not fighting – internally as well as externally.  It is an art so refined that it actually doesn’t work unless the mind is calm like a millpond and the body is relaxed under both stress and movement.  That makes it a hell of an art to master, or even to be reasonably good at, but it has some mind-blowing development aspects (pardon the pun).

Try it sometime and watch your business boom!

Business coaching brisbane

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Business coaching wisdom

“It is hard to be in business today using yesterday’s tools and still expect to be in business tomorrow”

Gary