You must check out this website!


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

Business planning – tire kickers & chokers

Met another would-be business planning client the other day!   It’s not a regular occurrence, but an occasional distraction.  Many people like the idea of being in business for themselves but the reality scares the crap out of them.  They get at or near the start line and choke.   My brand of coaching removes all the dreaming right after the ‘vision’ stage.  After that it resembles hard work.  After a long period of procrastination, that can be a harsh reality.  The choke statement was that she couldn’t proceed until she received a tax refund she was waiting on.   If anyone really has to wait for a tax refund to pay a business expense (in this case ‘advice’) then they are in real trouble.  If you are serious you’ve just got to man-up (or woman-up) and take control.  It’s just another reason why you plan first!

To know more about business planning

Email me at

Mobile: 0408756531

In business … or buying yourself a job?

Business planning Australia

You have been recently employed and now you decide to go into business merely to buy yourself a job.  Nothing really changes except you have ditched the old boss and you are free to do as you wish. 

Not only are you the boss, you are probably the only employee – well someone has to do the work!  Unfortunately, it is likely that you are the boss in name only because the employee mindset rarely changes overnight. 

Even though there is a new boss sitting in the big comfy chair, your thinking is still that of an employee.  Old work habits and employee thinking die hard.

If this is you, then expect to struggle unless you have a fast change of mindset.  Not only do you still think like an employee, you now also lack the resources that your old boss once provided and you don’t receive the guaranteed weekly pay packet as you did in the past, even in those weeks when you didn’t earn it. 

Back then you were a small cog in a big wheel, even if you were called ‘a manager’.  Now you have to be the whole wheel as well as the engine that drives it.  It’s not an easy transition to make.

The tasks that you once performed and mistakenly believed to be central to your former employer’s profit will probably not make you a cent in your own business.  Filling up your day with non-core activity will not make you a profit now. 

You must come to the rapid realisation that only ‘high payoff’ or ‘profit’ activities related to ‘customer demand’ will make you money and you need to work out what they are.

You could be a dangerous liability to your new business if you don’t have a complete change of mind and work ethic. 

Until next time


For trusted and respected business planning in Australia call 0408 756 531

Business planning Australia – who gets your business when you die

Gary Weigh

At Gary Weigh & Associates, we are business planning Australia!   That includes the all important and often forgotten issue of succession.  The answer to succession is not simple but the more you plan the simpler it will be.

If you own your business personally as a sole trader, it can be left to a beneficiary of your choice in your Will.  If you are a partner in a partnership with no partnership agreement, the partnership is automatically dissolved and your share can also be passed to your Estate via your Will.

If your business trades as a company, you are not the owner of the business assets and liabilities; your company is.  So you can’t leave the business directly to a beneficiary via your Will.  However, as owner of the company, your shares in the company are personally owned and can therefore the company (and everything in it) can be left to a beneficiary of your choice in your Will.

Your ownership interest in a fixed trust can also be passed to your Estate via your Will, in much the same way as a company, but the succession of a discretionary trust can’t.  It must be dealt with in the trust deed.

So the succession of most simple business structures looks very straight forward, doesn’t it?  However, it is not straight forward and here’s why!

The problem lies not so much in the passing of your business but in the receiving!  The critical issue is who will receive ownership via your Will when you die.   Not everyone is a willing or competent beneficiary.

Despite what they might have said to your face, spouse, friends and family may not want to follow in your footsteps, or may be incapable.  It is for this reason that a business often dies with its owner.

I will let you in on a secret to an alternative and much smarter business succession strategy.  This will be coming up over the next 2 installments of business planning Australia.

For more on business planning Australia read A challenge is looming for financial advisers

Until next time!


Learn The importance of a calm positive mind in business.  Visit my very popular Aikido Secrets website!!

Be a stand-out risk adviser!

Business planning Australia for financial services 

Call Gary direct on 0408 756 531

The majority of advisers are generalists because they tend to write the next person who says yes to an appointment, whoever that may be.  For this reason, risk advisers by and large look the same to the average customer.  Often the winning difference is persistence, professionalism, knowledge or trust.

It is tough to operate as a ‘me-too’.  It is even tougher being a ‘me-too’ trying to be all things to all people.  In a market where clients are becoming more educated and aware, few advisers have the comprehensive technical and product knowledge to do it all and do it well.

For a lot of advisers, the risk insurance appointments that aren’t referrals are the result of cold calling.  However, the anti-hawking provisions and the do-not-call telephone register now make it difficult to directly approach individual householders.  As a result, there has been a shift towards cold-calling business owners, mostly because they are still fair game.

The SME (small to medium enterprise) market segment has become increasingly popular but is still significantly underdone.   There is a tendency to separate the owner from his or her business and insure the individual only; thus ignoring the business itself.

The missed opportunity is not responding to the total needs of both owner and business as a combined unit.  This non-response is generally caused by a lack of knowledge, experience and confidence.  It also takes a little longer to get the job done and this is perceived as time better spent elsewhere.

It is for these reasons that the more complex business issues of equity protection, asset protection, key person protection, business succession and small business CGT rollover are overlooked.

It is the distracted effort to maintain a consistent flow of new business and monthly income that results in the more specific and more valuable market segments being missed by advisers.

Advisers who do specialise do it either by industry or and / or by product.  Over time, they emerge as very successful because they have deep knowledge in a narrow area.  As a result, they become known in an industry and are referred to more often.

Financial services business planning you can trust 

Call Gary direct on0408 756 531 or email

The true value of the specialist risk adviser

For business planning Australia call Gary direct on 0408 756 531

Under the FoFA proposals to ban conflicted remuneration (i.e. product commissions) the specialist risk insurance adviser is looking as though it might emerge unscathed.

While financial planners appear to be headed for an ever deepening mire of ‘nanny-state’ paperwork, added to which will be the administrative task of generating and mailing invoices and / or opt-in renewal notices, it appears as if risk advisers might be left to get on with the job of advising.

With no requirement for holistic plans, doorstop sized SoAs, invoicing and debtors systems, it appears as if the solo risk adviser might continue to operate as they always have.

Yes it is true that the risk insurance commission system doesn’t always reflect the true value of risk advice over time but it does help ensure that at least the client focused adviser will there for the client in the event of a claim.  The proposed opt-in provisions are unlikely to achieve that.

On the plus side, it will certainly be a big help to solo risk advisers to have the life companies and licensees continue to shoulder some of the administrative burden by of commission remuneration.

On the minus side, the commission system has the potential to provide the adviser with a good income regardless of whether they provide a good service or not.   Being paid by the product provider attaches the adviser to the product but does not necessarily attach the adviser to the client over the long term.

Without risk advisers, Australians would be further underinsured and that increased financial burden will eventually transfer to the government welfare system.

The majority of Australians already dismiss the concept of risk insurance as a waste of premiums because they wrongly believe that “it won’t happen to me”.  It is only the life company claims people, medicos and risk advisers who know the reality and see the end result of human fragility.

It is not until you have delivered a cheque to a family torn by tragedy, and seen the expression of relief and gratitude, that you can ever understand the true value of risk insurance and the true value of the client-focused risk adviser.

#1 business planning in Australia

Financial services advice you can trust!

Call Gary direct on0408 756 531 or email

Business planning Australia – a challenge is looming for financial advisers!

Business planning Australia 

Call Gary direct on 0408 756 531

A lot of self employed financial planners are going to have their world turned upside down next year when ongoing commissions will cease as a way of paying for financial advice.

Many financial advisers will have to change the way that they charge for their services.  But that is only the start of it.  The knock-on effects of this change are much more far reaching in terms of business survival.  In financial services business planning Australia will lead the way.

There are many advisers whose entire monthly income is made up of investment and insurance commissions relating to business written in the past.   They will be shaken up the most.  A lack of business planning and management skills will see a lot of advisers leave the industry.

Although it is irrelevant now, some clients love the commission based income system and others hate it.  The problem with this model of pricing financial advice is that it doesn’t relate to the present.  It relates to past business written.   

From the adviser’s point of view, that’s not such a bad thing because it is always a desirable business goal to establish recurring income streams.  In other words, it allows income earning while you sleep.

From the client’s point of view however, one of the disadvantages is that there is no incentive to provide service today.  The adviser only has to do enough so that the client doesn’t change his or her servicing adviser.  So in many cases, a minimum service is provided and the adviser gets paid, no matter what.

With the upcoming change, every adviser will have to provide maximum service (not minimum service) to compete.   It is often said that the price of financial advice will skyrocket as a result of this change, but I don’t think so.  It is more likely that competition will keep fees at a reasonable level.

The changes required to each and every financial adviser’s business will go much further than a mere switch to charging fees.   It will involve a complete restructure of their businesses.  To many, it will feel like starting all over again.

Those who commence business planning now will be well placed when the change comes into effect on 1 July 2012.

#1 Business planning Australia

Call on 0408 756 531 or email

Business planning – Train your reps in business development!

For quality business training call Gary direct 0408 756 531

Business development is a lot more than increasing your sales strike rate.  It is about helping your sales people and / or your self employed reps to build a long term business – theirs and yours!

Include it as part of your annual business planning!

If you can train your reps to look beyond the next sale, towards building a long term asset for themselves (and in turn for you) they will be on a winner and so will you!

Your licensees might be:

  • Financial planning authorised reps
  • Insurance authorised reps
  • Credit & lending authorised reps
  • Commission based real estate agents
  • New franchisees
  • Commission based product sellers.

Even if you have employed sales reps, it can only help your business growth to apply sensible business principles to their activities.

One way or another, business development training is a valuable long term investment in your own business.

Train your reps individually, in group sessions or at your next conference!

Call or email now! 0408 756 531



You have come to a crossroad! 

It's time to act!


You are sick of being someone else’s lackey and pursuing someone else’s dream.

You wish for change in your life!

It seems that everyone around you has more money, a bigger house, a nicer car and a better relationship.

Your job sucks!

You are tired of the daily commute and the weekly drudgery of work.  You only do it to pay the bills, but there is never enough time for yourself. 

You feel like you are on a treadmill and that you will never get ahead in life!

The boss expects perfection 24/7 but is far from perfect himself!  You bust your hump with honest, loyal service.  But you know it means nothing on corporate judgment day!

You want another shot at life!

This time you know what you want.  You see what others have!   A good life!

The desire for change has been growing inside.  You are frustrated and dissatisfied!

You know you can do better and you know deep down you can make it!

You just need a chance to realise your potential!

If dummies can do it, then you can do it in half the time!

Why? Because you have stood by and watched so many dummies around you become wealthy, buy nice things and have a lifestyle of pleasure!

So why is it difficult to change?

Because you are comfortable in your routine!  You hate it but it is a comfort zone.  You know that your daily routine of long hours, stress on the road, stress in the office, little leisure time, is all to build someone else’s dream, but you can’t quite crack the inertia.

You are a little fearful that if you go out on a limb, the branch will break and you will fall.  You fear something will go wrong and you will be worse off!

Relax!  You need someone to watch over you!

I have done it and it’s not that hard.  All it takes is self belief and a can-do attitude.

If you take a little time to plan, the risk is quite low. 

Let me assure you that your fear and self doubt is all in your head.

Do something for yourself! 

Write to me ( and tell me the following!

  • 3 things you most hate about your life

  • Your 3 greatest passions

  • The barriers you believe are stopping you from moving up in life


I will respond to every email personally.  I will show you how to take your first business planning steps towards financial independence!

Business planning – a template is only half the story!


Most business plans simply follow a template that ensures all the boxes are ticked and every aspect of the new venture has been addressed, e.g. structure, people, product, manufacture, marketing, etc.

However, the business planning template alone fails to match the person to the business; it fails to develop and grow the owner into the business; and it fails to show a person how to grow the business into a valuable asset.

You can have the best business plan in the world but still be at a complete loss to know how to successfully operate a business.  People who are new to business must consider more than just the words on the pages of a business plan. 

Here is what people really struggle with in business planning:

1.      Being in the right business head space

Some people have a mind for business and others don’t.  Coming from an employee background into business is a big leap because there is more to business than showing up for work each day and doing routine tasks.  It is important to approach business with an attitude of self belief and self reliance, with a willingness to do whatever it takes.  For most people, it means loneliness, difficult decisions, and being stretched a long way out of their comfort zone.

2.      Having sufficient business skills

The most common profile of the new business starter is someone who is skilled in a trade, a profession or other personal service and decides to become self employed.  The other common profile is the person who has a skill in making something.  What they all have in common is the technical skills to perform a service or make a product.  Many have no selling skills and most lack the wide range of other skills (including financial management) required to grow their business and build a valuable long term asset.

3.      How to take the first step

You only have to visit the ‘Starting a Business’ forum on Flying Solo to see the inordinate number of questions people ask about getting an ABN, registering a business name, being a sole trader, setting up a company, trademarks, registering for GST, employing a person on PAYG, and getting a website.   For many it is a struggle just to get through that part; and the real business hasn’t even begun yet.

4.      How to be action-oriented

A lot of people struggle when the theorising stops and decisive action is required.  As an owner, ‘action’ usually means contacting people, forming relationships and performing those tasks that directly relate to building sales and profit.  Initial enthusiasm can quickly turn to disheartenment after a few knock-backs or when thing don’t go as planned.  It can be a difficult challenge to keep moving forward under pressure of dwindling cash flow.

For more reading on business planning check out my Business Planning 101 Introduction at

Until next time!