Business planning – the business mind

In business planning, much has been written and said about entrepreneurial thinking and the traits that entrepreneurs have in common.  But not much is said about actually developing the mind set that supports entrepreneurial thinking.

Let’s widen the definition of entrepreneur beyond the person with the big business idea who has the charisma and tenacity to win support for its successful implementation.

Now let’s call them the ‘everyday entrepreneur’ and include anyone who has a dream; has the guts to take a risk and have a go; and who gets a result, either good or bad.  So in my view, that can be:

  • Every business owner
  • Any action-driven risk taker in any context – e.g. business, sport, science
  • Anyone who attempts to network for gain; and
  • Anyone who addresses groups or speaks publicly

That’s a lot of people.  Well that’s my point!

Most heroes go unnoticed in this world, as do most entrepreneurs.  Your name doesn’t have to be Richard Branson, Dick Smith or Donald Trump to take a risk and have a go.

Many people try and many people stumble because they run into problems that they feel ill-equipped to solve.  That’s why it’s a common to hear of entrepreneurs having many failures before finally achieving success.

It is my experience over the past 30 years that all people have dreams; the majority have the entrepreneurial streak (in the wider definition), but most lack the mind skills to see it through to successful implementation.

More on business planning – the business mind in my next blog.

Check out my other blog at http://www.aikido-secrets–

Until next time!


Business planning – beware the borrowing trap

How’s this for poor business planning?  When someone goes completely broke, it’s almost always because they borrowed money.  Ironically, it is not the poor who fall from grace and go broke.  This is because generally the poor can’t borrow money easily.

It is those with higher income and easy access to borrowing who at most at risk.  In many cases, it is also those who should know better, such as financial professionals in large companies.  But there is no accounting for greed!

Borrowing money is also glamorously referred to as ‘leveraging’.  Borrowed money comes in many forms – e.g. personal loans, secured loans, margin loans, mortgages, and credit cards.

Borrowing money to invest instantly puts you at risk to lose more than your original investment.  The recent Global Financial Crisis (GFC) has demonstrated that.  It’s just that when viewed through the rose coloured glasses of a booming economy, it doesn’t look that way.

Borrowing money for personal reasons (non investment) is financial suicide.  The risk is high from the start because whatever it is you buy with the borrowed money (e.g. a car) makes no income and therefore contributes nothing to ease the repayment burden.

It sounds old fashioned but if you handle all your financial affairs and investments on a cash basis, it is almost impossible to lose everything, no matter of what unforeseen event may happen in the world.

Until next time!


If you are looking for a basic book that explains personal finance in a common sense way, you won’t find better value for money than

GET A FINANCIAL LIFE written by Beth Kobliner

available now in the Amazon library → on the right hand side of this page →

It focuses on personal finance into your twenties and thirties but in my opinion, it is a basic handbook for people of all ages.  This book is an investment in itself. It is only USD $10.77 and when you land on Amazon’s site you will see cheaper options.

Business planning – income is the foundation of your wealth

Critical to business planning is the science of financial management.  Financial management is all about the source and use of money.  I refer to it as a science because whether in business or in personal finance, there are certain rules you must observe in every day financial management.

One of the foundation stones of financial management is:

Your career and therefore your income provide your wealth!

Your income is the foundation of all of your wealth building.  Therefore, your prime focus should be on generating income, rather than borrowing money.

Your focus should also be on saving your income instead of spending it.  It is the part of your income that you save that forms the backbone of your future investments.

It is most likely that you will make far more money from your business or profession than you will from your investments.  Your investments can make your future more secure and your retirement more prosperous, but without income, investments alone will not take you from rags to riches.

Only very rarely does someone make a large fortune from investments.  When that happens, it may appear to be a hot tip or good luck but it is generally achieved by someone with a high income and savings potential.

When planning investments, your priority should be to preserve what you have.  Preserving what you have will be an unlikely outcome if you pursue complicated schemes that promise high returns in the short term.

Until next time!


For an introductory look at Personal Finance it is hard to go past this book.

TURNING MONEY INTO WEALTH (5th Edition) by Arthur J Keown.

available now in the Amazon library → top right on this page →

This is an American introductory finance book written by a Professor of Finance at Virginia Tech Pamplin College of Business.  Although it is primarily a text book, it is a surprisingly easy read.

It has to be said that USA tax laws and other regulations contained in this book are different to those in Australia but the author provides a great presentation of the fundamental principles of personal finance, which are universal foundation principles.   That is valuable information if you are looking to enhance your financial education.

Lightbulb moment 4: Find your opportunity

We continue our business planning odyssey….   Finding opportunity and converting it is the creation of everything.   It is the fun part of business planning because it leads directly to growth and profit.  However, don’t wait for opportunity to fall into your lap.  You must go outside and make it happen.  The most important part of opportunity is your mindset.   Be optimistic and think abundance!

Enjoy light bulb moment 4 – Find your Opportunity

Light bulb moment 3 – Follow demand

We continue business coaching Brisbane style!   Demand for your product or service is a lot more than a one line sales forecast on your budget.  It is dangerous to assume that people will buy whatever you have to offer.   Following your passion or your expertise doesn’t guarantee demand.  So here are a few tips about getting to know and understand demand for what you want to sell.

Enjoy light bulb moment 3.

Business Planning 101 – lightbulb moment 2 – your mind is your most valuable business asset

The Aiki-business Coach

In Business Planning 101 – lesson 2, you will learn that your mind is your best business asset.  It governs everything you do.  To help you I have combined the incredibly powerful principles of Aikido mind development with street smart business basics.  I share these with you online in my Aiki-business self development course.

Email me for more information at

Enjoy lesson 2 below


Why do Business Planning?

The primary job of a business owner is to manage and run a business. Managing is a lot more than telling people what to do.  It means planning, research, executing strategies, making effective use of available resources and protecting the business.

It is not always the case that a business outcome turns out exactly as planned.  Hence the concept of risk!  Put simply, a business is a risky investment like any other.

Being an entrepreneur involves risk taking.  But that doesn’t mean taking unnecessary risks (e.g. speculative risk).  Part of the business planning process should be about minimizing risk.

If you are investing your life savings, borrowing other people’s money, and putting your family’s stability at risk, it is your responsibility as a startup small business owner to not take stupid risks.

Of course there are unavoidable risks involved in a new business venture. These are calculated risks.  The business planning process may not guarantee success but it certainly decreases the chances of failure.

Your business plan also provides all of the stakeholders in your business, including partners, financiers and employees, with a succinct and unambiguous reference of your intentions and strategies.

Until next time!


What is entrepreneurship?

When people think ‘entrepreneur’, many think inventing or dreaming up a new idea.  That’s not entrepreneurship, that’s creativity!  Sure, someone has to come up with the good ideas, but there have been countless good ideas in the world that have gone nowhere.

Entrepreneurship is about getting new business rolling and that means action and implementation.  Unless a new business starts up and becomes profitable, there is no increase in competitive advantage, there are no new jobs, no additional tax revenue available, and no contribution to GDP or the standard of living.

Getting products and services to market is the only thing that matters in the end.  And this can only be achieved by people collaborating and cooperating commercially with each other.  So connections are vital.  Finding people who access the right business channels is an entrepreneurial art in itself.

Commercial innovation is another entrepreneurial art.  This means working with existing technology and know-how and creating new applications.  As Andrew Hargadon, Senior Fellow at the Kansas City based Ewing Marion Kauffman Foundation says,Most innovative leaps come from the collective creativity and entrepreneurial spirit of many businesses actively learning-by-doing and learning-by-using”.

Arguably the real entrepreneurs are the well connected private investors of the world.  These people are experienced business promoters who have access to both money and quality business connections.  Although they fund less than 5% of proposals put to them, they can identify ‘diamonds in the mud’ and get innovation to market.

Until next time!