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Money Matters

Business owners are always great at what they do. They know their business inside and out.

But what happens when it's time to sell your business? Do you have the results you need to justify the price you want?

Most of the time, business owners need to start working on their business instead of in their business. What we are doing to help our business clients is acting as the external adviser to their business, helping them follow the three steps essential to building their business sale value.

1. Find your Purpose

Your business needs desire. You need something that is going to drive your business from now until you sell it. You need purpose.

You find your purpose by asking why? Why do you own a business? Why did you choose this industry?

2. Set your Goals

Once you know your purpose you need a target for the future. Is it your business sale value in 5 years' time? Or is it more personal like days where you don't have to go into work each week? Whatever your goal is you need to set it for a point in the future and work towards it.

3. Monitor your Progress

It is one thing to keep track of where you are compared to your target but what happens when you fall short? How do you stay on track?

Ask your accountant! We can act as the external adviser to your business, running a second set of eyes over the numbers and your business processes to let you know if anything seems abnormal.

The process we take in improving business sale value is allowing our business clients more certainty of what they'll receive when they sell their business. The last thing you want is to have a great business but because you didn't plan ahead, you didn't get as much for it as you needed.

Talk to us today about maximising your businesses sale value – you can't afford not to.

Have you ever felt stressed about money?

Importance of income protection insurance – the value of you

Many people know what it is like to get caught short without enough cash in the bank or to lose sleep over mounting debt.

But imagine if something happened and you couldn't work!!!

  • Your income stops.
  • The mortgage and other debts still need to be paid.
  • Bills continue and actually pile up.
  • Usually more bills to pay for medical treatments.

Imagine the stress then!!

The last thing you want to be thinking about is money when a dreadful illness occurs. You want to focus on getting better.

Income Protection will help keep you afloat financially for as long as it is needed (it can be up to age 65 or 70).

And yes insurance companies do pay claims,providing you use a quality insurer.

Don't just say you have this in your superannuation. Check the waiting period (the period you have to be off work before you get paid) and that the benefit period is for more than 2 years and the amount they will pay (cover) is appropriate to your current salary.

Get personalised advice that's right for you.

We would like to offer you a 90 minute consultation with our insurance specialist, Michael Crowe, to help you find the right insurance solution and discuss the best way for you to protect your most important asset – your income. Click here to book online now. 

Why most business profiles suck

People don't buy your business, they buy you.That's why your story is so important, and why the traditional business profile, 'bio' or 'about us' section of your website just doesn't cut it. At the end they're written to attract your target market, and we know what they want to hear most about – themselves!

So why do most business profiles still sound like a resume of what you've done and how good you are??? It's not effective, and frankly, it's boring.

I guess the answer to that question is that it's the way we were taught, and most people don't know what they don't know.

Fortunately for me, I got some great advice a few years ago from Success Coach Steve Salvia. He told me that whenever we talk about ourselves to our prospects, it should be in the context of how we've earned the right to help them.

Lightbulb moment!!!!

It makes complete sense, but unless someone gives you that great advice, you won't necessarily think to do it.

So now I'm paying it forward. If you'd like a copy of the framework I use with my clients to build your own 'Earn the Right Story', let me know in the comments, or shoot me an email at c.hendrie@hendrie.com.au.

Cheers, Caz

This morning 'my-man-Mick' accused me of not being interested in what he was saying because I was folding washing as he was speaking. Quick as a whippet I explained to him that I was 'multi-tasking'…

Most women (including me) wear their multitasking capability as a badge of honour. Most men on the other hand shake their heads and wonder - not only how, but why??

Did you know there is actually a scientific reason behind this multitasking skill?

Women actually have more connective tissue between the left and right sides of our brain... They also have keener peripheral vision.

This is why when a hunky man walks in the room we can check him out appreciatively without breaking eye contact or conversation with our partner. On the other hand, our male counterpart usually breaks eye contact, stops mid-conversation, and often even physically turns to check-out a lovely lady. Then of course he gets into trouble for doing the exact same thing we've sneakily done ourselves!!!!

Ladies, on this International Women's Day, celebrate your multi-tasking ability but remember there is no substitute for good old-fashioned focus. It will serve you a lot better in achieving your goals, not to mention keeping those stress levels down!

Happy International Women's day! I hope you get a giggle out of my own favourite multitasking pic.


The power of your “story”

I talk a lot about changing your story and the impact it can have on your life and your business. 

My own life changed exponentially once I stopped telling the story of being too small to be taken seriously! If you know me at all, then you know how laughable that is now!! Imagine The Five Foot Growth Guru lacking confidence...

I came across a great Tony Robbins article today (he may not be your Guru but he is kinda my hero) that deals with this exact topic, in particular:

  • The stories we tell ourselves and the impact it has on your life
  • How to trade your expectations for appreciation
  • Taking back control of your freedom and happiness

I've included an excerpt below. It's a quick but powerful read.




We unconsciously decide what events and experiences in our life mean; we do it all the time, but may not be aware of it.

Take a downturn in the economy, for example. One person could interpret that as, "I'm going to be broke." Another person, though, might say, "This means I'm going to work harder and I'm going to be more creative about saving."

What do you think the outcome of this thought pattern will be for each of these individuals? Pretty different, right? Is it apparent why each will have very different approaches to life, and why each will experience very different emotions? That all comes from the meaning each person assigned to the event.

Now, let's move to something a little more personal. Consider a woman who had been adopted as a baby. One path she could take is to devalue herself, to believe that because she was adopted, that she wasn't good enough to be loved. She could also take the opposite approach, and consider the fact that someone chose her and chose to love her. What's the significance of her decisions over what story to choose? How will this impact her decisions in her daily life? How will it affect her bigger decisions?

The former story creates a sense of loss, while the latter celebrates her life and her worth. And the story she chooses will impact her whole life – because the decisions that control us are the decisions about meaning, and meaning equals emotion.


If choosing the disempowering story sounds familiar, you aren't alone. We all tell ourselves stories that make us miserable when we could be feeling joy. We make ourselves feel sad, worried, anxious, shameful, guilty, fearful and enraged on a consistent basis. Why? Because we are wired that way.

The human mind is always looking for what you could lose, what you could have less of or what you could never have. It might seem counterintuitive, but it's a matter of survival and of protection. You are biologically wired to prepare yourself for the worst at all times. That is why it is up to you to take conscious control over the stories you tell yourself and the resulting emotions you experience.

The secret to doing this is to trade your expectations for appreciation. If you do this, your whole life will change in that moment. And if you keep doing it, your life will change forever.

Go back to the woman who was adopted. She had an expectation that her biological mother and father should have kept her. And that expectation could have tainted her entire life. But if she shifted her expectations to appreciation that somebody picked her consciously and loved her, without the obligation or the biological imperative to do so, her entire life would change. This is the power of trading expectations for appreciation.


The choice is yours. What are you going to focus on? What story are you going to let guide your life? You get to choose what meaning to assign. This is the one power that you have right now in this moment that can change everything.

The only thing keeping you from getting what you want is yourself. The only thing keeping you from the joy you deserve is the disempowering story you keep telling yourself. But what if you decided right now to offer yourself a new core of belief? What if everything in your life, including the most painful and traumatic events, was happening for you, not to you? What if everything was designed for you to actually have a greater life and have more to give and more to enjoy?

If you want real freedom in your life, you must make a decision to stop allowing external events to shape your happiness. And that is only done by becoming the master of meaning and finding the empowering meaning in anything and everything that comes your way.

Team Tony

Team Tony cultivates, curates and shares Tony Robbins' stories and core principles, to help others achieve an extraordinary life.

Budget Update 2017

A continued commitment to growth

The Government has taken a two-prong approach in this year's Federal Budget to stimulate growth in the economy by providing targeted spending and business incentives. 

Regional infrastructure

A key feature of this year's Budget is the commitment to investing in regional growth to better the Australian economy. A $472 million Regional Growth Fund will be set up to invest in regional infrastructure projects.

An additional $8.4 billion will be allocated to fund the Melbourne-to-Brisbane Inland Rail in 2017-18. The Inland Rail will provide significant employment in regional areas as well as increased export opportunities.

Company tax plan 

The Government's promise to small and medium businesses in last year's Budget continues through its Ten Year Enterprise Tax Plan to reduce the company tax rate for all companies to 25 per cent by 2026-27.

Incorporated small businesses with a turnover less than $10 million will have their tax rate reduced to 27.5 per cent in 2016-17. Once legislated, the tax cut will be passed on to companies with an annual turnover less than $50 million by 2018-19.

A lower corporate tax rate will help permanently broaden the economy by just over one per cent in the long term and effectively promote business investment by raising the investment return in Australia.

The Government acknowledges the major role small businesses play in the Australian economy and is committed to supporting small businesses to continue to grow and flourish.

Instant asset write-off 

A further boost will be provided for small businesses as the Government is extending the $20,000 instant asset write-off for a further 12 months until 30 June 2018. Small businesses with an aggregate annual turnover less than $10 million can access the concession to help improve their cash flow and invest in the assets they need to grow. 

Reducing red tape 

The Government will provide $300 million over two years to states to help reduce the red tape for small businesses. The removal of unnecessary restrictions for small businesses will help level the playing field and lessen regulatory burden.

Keeping taxpayers honest

The Budget focuses on maintaining the integrity of Australia's tax system to ensure it is fair and secure to all and covers five key areas. 


The Government will continue to crack down on the cash economy with additional funding for the Tax Office's Black Economy Taskforce extended until 30 June 2018. 

The taxable payments reporting system will be expanded to ensure payments made to contractors in the courier and cleaning industries are reported from 1 July 2018. 

Anti-avoidance tax behaviours will also be targeted as the Government intends on banning technology that modifies or deletes sales records for the purpose of minimising tax. 

Finally, aggressive tax structuring where hybrid instruments are used to exploit the tax differences between countries are on the Government's radar, and the Multinational Anti-Avoidance Law will be strengthened to ensure corporate structures, i.e. foreign partnerships or foreign trusts, are compliant with the law. 

Residential property 

Deductions for travel expenses for a residential investment property will be disallowed. This measure addresses issues with investors that have been claiming travel costs for private purposes or who have not properly apportioned their costs. Additionally, deductions for plant and equipment in residential property investments will be limited to expenses directly incurred by investors. 

Goods and services tax (GST) 

GST law will be strengthened to prevent some property developers from avoiding GST obligations by ensuring GST is paid directly to the ATO when purchasing newly constructed residential properties or new subdivisions. 

Capital gains tax (CGT) 

From 1 July 2017, small business capital gains tax (CGT) concessions will be amended to ensure that concessions can only be accessed in relation to assets used in a small business or ownership interests in a small business. Tighter capital gains tax rules for foreign and temporary residents will deny access to the main residence exemption when they sell Australian property. Furthermore, the foreign resident capital gains tax withholding regime will see the withholding rate rise to 12.5 per cent, and the threshold will reduce from $2 million to $750,000.


The Government intends on bolstering the integrity of the super system by including limited recourse borrowing arrangements (LRBA) in a member's total superannuation balance and transfer balance cap, effective from 1 July 2017. Also, on the cards is the tightening of related party transactions on non-commercial terms to help increase super savings from 1 April 2018.

CGT events affecting shareholders

There are a number of capital gains tax (CGT) events that could affect you as a shareholder. 

Capital gain tax (CGT) events include various transactions resulting in a capital gain or capital loss. CGT is the tax paid on any capital gain made. This is worked out by deducting capital losses and any CGT discounts from the total annual capital gains. 

A CGT event occurs if you have sold (or otherwise disposed of) your share or units or other assets. However, there are a number of other CGT events that can result in capital gains or capital losses. According to the ATO, a CGT event may also occur where an individual: 

• switches units between managed funds to redeem said units 

• attains a distribution from either a managed fund or a unit trust (not including dividends) 

• receives payments from a trust or company that are non-assessable 

• is the owner of shares in a company where shares have been declared worthless 

• owns shares in a company that are cancelled because the company is wound up. 

Individuals must also consider whether they are entitled to any income tax deductions. This occurs when a listed investment company (LIC) pays a dividend where a LIC capital gain amount is indicated. 

There are certain occurrences where special capital gains tax rules apply, including: 

• attaining bonus shares and/or units and rights and/or options to acquire shares or units from a company or trust 

• entering into employee share scheme or dividend reinvestment plan or through buying convertible notes. 

If an individual has held a share for 12 months or more, they can use the 'CGT discount method' that allows them to reduce their capital gain currently by 50 per cent. In this instance, the cost base is subtracted from capital proceeds, then capital losses are deducted and then reduced by the relevant discount percentage.

Rates increase for fuel tax credits

Fuel tax credit rates increased on 1 February 2017. These rates are indexed twice a year, in February and August, in line with the consumer price index (CPI). 

The rates vary depending on when you acquire the fuel, the type and quantity of fuel you use, and the activity you use it for. Rates may also change for fuel used in a heavy vehicle for travelling on public roads. This is due to changes to the road user charge which is reviewed annually. 

If you claim less than $10,000 in fuel tax credits each year, there are now simpler ways to record and calculate your claim. For the BAS period ending 31 March 2016 and onwards, you can: 

• Use one rate in a BAS period - the rate that applies at the end of the BAS period 

• Work out your litres based on the cost of the fuel you purchased. 

To check which rate applies for your business, visit the Australian Tax Office (ATO) website or contact our office. Remember, there are time limits for claiming fuel tax credits, making adjustments and correcting errors - generally, you must claim or amend your claim within four years.

Building a sustainable lifestyle

While there have been no tax cuts for individuals in the Budget, the Government has introduced concessions in several areas addressing the cost of living.

Downsizing retirees 

From 1 July 2018, Australians over the age of 65 can contribute the proceeds of downsizing into their superannuation. A non-concessional contribution of up to $300,000 can be paid to their super using proceeds from the sale of a principal residence that has been held for a period of at least 10 years. Contributions will not be subject to any age or work tests. 

Affordable housing 

To assist Australian households, in particular first home buyers, the Government will support households building deposits by providing access to their superannuation. This will be implemented from 1 July 2017 and will allow access to voluntary concessional contributions and non-concessional contributions to super of up to $15,000 per annum; $30,000 of which will be concessionally taxed. Withdrawals on these contributions can be made from 1 July 2018. 

The Budget also imposes a $5000 annual levy that must be paid by foreign owners of Australian residential property that is underutilised or not available for rent in an effort to contain the cost of rising rent. 


The establishment of the Medicare Guarantee Fund (MGF) from 1 July 2017 will provide funding to the existing Medicare Benefits Scheme (MBS) and the Pharmaceutical Benefits Scheme to ensure Australians have continued access to affordable health care. The MGF will attain revenue generated from the Medicare levy as well as a small portion of personal income tax. 

The Government will provide $1 billion towards the reintroduction of indexation on specific areas of the MBS, including specialist procedures and diagnostic imaging fees. Bulk billing of under 18-year-olds and concession cardholders will be encouraged through incentives introduced to general practitioners from 1 July 2017. 

Higher Education 

From 2018, fees for university students will increase by 7.5 per cent. More repayment options through the Higher Education Loan Program will be offered to assist students with this. For 2018 and 2019, universities will pay a 2.5 per cent dividend and will also be subject to measures creating greater accountability and transparency. 

National Disability Insurance Scheme (NDIS) 

The Medicare levy will be increased by 0.5 per cent from 1 July 2019 with one-fifth of its revenue going towards the NDIS Savings Fund to ensure all Australians with significant and permanent disability have adequate support and lifetime care. 

An Independent NDIS Quality and Safeguards Commission has been funded through the budget, allowing for improved quality of safe services for those using the NDIS.

ATO to report unpaid debts

The Mid-Year Economic and Fiscal Outlook 2016-17 announced that from 1 July 2017, the ATO will disclose business tax debt information to credit reporting bureaus.

The new measure is geared to enhance the integrity of the tax system and ensure businesses who are not compliant do not gain an unfair competitive advantage over those businesses who are. 

The ATO will initially pass on unpaid debts from businesses with an Australian Business Number and with a tax debt of more than $10,000 which is at least 90 days overdue. Taxpayers will be notified by the ATO before the information is passed on to a credit reporting bureau. 

In addition, a special Taskforce specifically aimed at dealing with the cash economy has been developed as an innovative, whole-of-government policy response to this problem. Activities under scrutiny are those which disadvantage honest taxpayers, undermine the integrity of Australia's tax and welfare systems and reduce the amount of revenue collected by governments.

A better workplace

The Budget sees the Government place emphasis on generating ongoing employment opportunities for all Australians. 

A focus on good debt/bad debt allows for investing a sizeable portion of the Budget into infrastructure; creating in excess of 50,000 jobs directly and indirectly from 2017 to 2030 and onwards. Major projects include: 

• Western Sydney Airport 

• Melbourne-to-Brisbane Inland Rail 

• National Rail Program 

Implementation of the Temporary Skill Shortage Visa following the abolishment of the 457 visa will create incentives to prioritise Australian workers. Employers who nominate foreign workers for this visa will pay a levy; generating revenue for the Skilling Australians Fund which will replace the existing unsuccessful training benchmarks. The Skilling Australians Fund assists financing apprenticeships and traineeships while allowing for employers to meet critical needs for their businesses where Australian skill sets are not available. 

The introduction of various reforms will see disadvantaged Australians receive appropriate support to acquire and retain employment. With a focus on indigenous and vulnerable new parents through ParentNext services; appropriate pathways to employment and formal education will be achieved through childcare and preemployment training, literacy and numeracy classes and financial management. 

To improve workforce participation, the Job Seeker Compliance Framework will create stronger penalties for those abusing the Work for the Dole initiative; holding non-compliant job seekers accountable while still providing sufficient support for disadvantaged and vulnerable job seekers. 

A guide to negative gearing

Negative gearing is a common tax strategy used by property investors to offset the costs of owning a property against assessable income. 

The strategy is arguably one of the most generous tax breaks available to Australian property investors. It allows investors to claim the shortfall between a property's associated expenses and its rental income as a deduction against their total taxable income - resulting in a lower annual income tax bill. 

Where the other income is not sufficient to absorb the loss it is carried forward to the next year. 

To access negative gearing on a property, the owner must have borrowed money to purchase the property and the net rental income must be less than the costs of maintaining the property. 

For example, if the rent of a property was $500 per week, and the property was fully tenanted for a full financial year, the rental income would be $26,000. If the deductible expenses for that year were $40,000, the net rental loss would be $14,000. The $14,000 loss can then be applied to reduce the property owner's taxable income. 

Although negative gearing is helpful for those owners experiencing a net rental loss, the strategy is not without flaws. An underperforming property is still making a loss, and ideally, investors would prefer to have a positively geared property where rental income exceeds expenses. 

Investors who have long term negatively geared properties are generally hoping to incur long term profits from capital growth. 

Even if you think that your investment property will be positively geared, understanding the benefits of negative gearing can give you a little peace of mind knowing that if the property does lose money, you will be able to offset the loss against your taxable income. 

When a property is positively geared, the income earned is added to your total taxable income. As such, it is taxed at your marginal tax rate. The same applies to any capital gain that you make from selling a property.

Speed up your BAS refund

As in any business, cash flow is a necessity. Having your business activity statement (BAS) refunded to you quickly is important as a small business owner.

Here are a few tips to follow to help speed up this process: 

• Ensure information is complete and correct; keep personal details, such as postal address, bank details and authorised contacts updated. Having a record keeping system in place is the best way to stay on track. 

• Submit BAS on time. 

• Lodge all outstanding activity statements: the ATO are unable to process the refund until they know the extent of the credit or liability. 

• Check financial institution details are entered correctly. 

• Be careful not to not double up by lodging both online and in person.

Know who you are purchasing your property from

Under new legislation if you are purchasing a property from a non-resident vendor, you will likely be required to withhold 12.5% capital gains withholding tax and forward to the ATO...

Click here for more information.



Well Coca-Cola was definitely my friend last night! After an incredible but intense day with Joseph McCLendon III I was literally swaying with exhaustion by the time I got back to my room. But no rest for the wicked, as our homework was to prepare a presentation to deliver the following morning. I'm feeling pretty happy with what I've put together, and looking forward to the feedback to make it even better. Wish me luck :-)






An update from Caren Hendrie

Feeling excited, nervous, and wildly privileged to be training with Joseph McClendon III for the next two days. He's one of the worlds most renowned presenters who often speaks to crowds of up to 35,000! I know he is going to push me out of my comfort zone to take my own presenting to the next level – BRING IT!!!!!













Made popular by The E-Myth Revisited author Michael Gerber, it's advice I'm sure you've heard dozens of times over the years (I certainly have). But despite being told over and over again, many small business owners still don't seem to truly understand what it means.

Let's look at a common scenario.

Bill is into making things out of wood. He loved woodwork at high school, and was pretty good at it too. And while Bill has a 'regular' job during the week, he also does quite well selling his wares at the weekend markets.

In fact, he's been thinking about making a career of it for a while. And after a particularly bad day at work (which ends with him giving his boss some directions about "where he should go"), Bill decides to give it a go. He finds a place to set up shop, hires someone to deal with all the paperwork and other business stuff, and soon after Good with Wood is open for business.

At last Bill is 'living the dream' and 'following his passion'. He's earning a living doing something he enjoys and gets to be his own boss, which he loves. He doesn't have to fill out timesheets or attend boring meetings. He can just spend his days sawing, hammering, planing and sanding to his heart's content.

It's perfect, right?

Unfortunately, no.

Bill's situation is a classic example of what Gerber calls 'an entrepreneurial seizure'. Someone gets the urge to 'be their own boss' but then (to quote Gerber) "goes to work for a maniac"-themselves.

The business owner ends up spending all their time working in their business. Now in Bill's case he gets to do what he loves. But it isn't long before he realises there's a lot more to business than just making and selling products.

And unless Bill effectively deals with those other aspects of running a business as well, he won't have a business for much longer.

In his classic book The E-Myth Revisited (the 'E' stands for 'Entrepreneurial'), Gerber describes this type of person as the technician of the business. They're an expert in their craft, and love doing what they do. Unfortunately, it's often at the expense of everything else associated with running a business.

Gerber describes three prototypes when it comes to business owners:

  • Technicians love doing the technical work.
  • Managers manage the technicians to ensure the work gets done.
  • Entrepreneurs design a business that can work without them, and then hire managers to run it, who in turn hire technicians to deliver the work.

In Bill's Good with Wood scenario:

  • The Technician does the woodwork to create the products.
  • The Manager does all the 'stuff' the technician sees as 'necessary evils', such as:

o   ordering materials

o   entering orders and doing the bookkeeping

o   tracking the work-in-progress

o   handling customer payments and banking

o   paying the bills

o   ensuring they comply with tax and other compliance matters.

  • The Entrepreneur looks at the big picture, and makes strategic decisions about things such as:

o   what the business should sell

o   who they should target as customers

o   how they should price their products

o   what their business model should be

o   how the business should be structured.

As you can see, technicians and managers work in the business and an entrepreneur works on the business.

An entrepreneur's focus is to design a business that can work without their own personal exertion on a daily basis. Their objective is not to be 'self-employed', or to create a job for themselves. They think of a business as a machine that can be designed, built and eventually sold.

That doesn't mean all entrepreneurs aim to sell their business in the short term. Some like to build and then hold onto their 'cash cow' businesses over the long term.

Two critical questions to ask yourself:

  • Does your business rely on your personal daily work at the technician and/or manager level?
  • Do you believe only you are capable of doing that work to the level required?

If so, you're chained to your business. And it's unlikely to become one you can sell when it comes time to move on or retire.

Let's think about Bill's Good with Wood business. What happens if he's sick or injured for a month or more? Sure, some insurances will replace income and pay lump sums in certain circumstances. But what about the business? Orders need to be delivered. Customers need to be satisfied. The business would grind to a halt, and its reputation would be tarnished.

Clearly, being your business' operational linchpin isn't so great.

In fact, it's the opposite of what you want. You want a business that isn't 'key person dependent'. You don't want your business to rely on any one person- especially not you.

In Bill's case, he needs to step away from the hands-on work. (He can still do some of it, but the business shouldn't rely on him as a key technician.)

What are some of the things Bill could do?

  • He could bring an apprentice on board, and get them up to speed on how everything is made.
  • He could write procedures manuals and create training videos to explain the details of every item the business produces.
  • He could document all the processes for managing the business.

By doing these things, Bill could get to a point where his business produces the same goods to the same quality whether he's there or not. And quite profitably.

Bill would be working on his business, not just in it. He'd be an entrepreneur.

Other things Bill could focus on to build his business include:

  • Marketing: Researching trends, looking at what competitors are doing, attending trade shows, speaking with customers and prospective customers, exploring ideas for new markets and new products.
  • Operations: Looking at ways processes could be made more efficient, negotiating deals with suppliers, researching new technology, looking at what can be eliminated, automated or further delegated.
  • Leadership: Mentoring the technicians and managers within the business, attracting high-quality employees to the business, ensuring new staff members are inducted and well trained, making sure team members have career paths and incentives that retain them long term.
  • Financial Control: Understanding the business' cash cycle, knowing which are the most profitable products and areas of the business, understanding which expenses are worthwhile and produce a worthwhile return, identifying areas of waste to be reduced or eliminated, managing debtors and improving processes for collecting payments.

As you can see, the things Good with Wood needs to do as a business go far beyond 'making things out of wood'-the thing that motivated Bill to start his business in the first place.

This entrepreneurial perspective doesn't mean Bill won't get to enjoy the sweet smell of sawdust. On the contrary, by learning how to build a business-and a team-to create his products, he'll enjoy success and satisfaction on a scale far more rewarding than (to quote Gerber again) simply "doing it, doing it, doing it" as the business' main technician.

So, what about you? Are you still 'on the tools'? Or are you designing and building a business that can eventually work without you so you don't have to keep "doing it, doing it, doing it"?

If you want to build something great with your business, let's talk. Make a time to sit down with us to map out your plan for working on your business so you don't get trapped in it.

And if you're local to the Croydon area, why don't you join us for the:

'Prime Your Prospects'™ ½ Day Workshop for Business Owners

The step-by-step system to get prospects salivating for 'what you've got' before you even meet them!

Click here for details on how I personally doubled my conversion rate, as well as full workshop details.


Caz Hendrie

The Five Foot Growth Guru


I LOVE what I do! In fact, one of the reasons I enjoy being a business owner is having almost complete control over the work I do and how I do it.
BUT... Even I have to admit that sometimes I'm faced with tasks that just don't juice me. That the mere thought of doing them makes me want to do pretty much anything else – clear out the linen press, clean the ceiling fans, drink mud...

Take today. I have a report I need to write. It's important for my business, but... YAWWWWWWWN!

So whenever this happens I have a simple three step process that really helps and that I hope might be useful for you too.

1)     Act now. If you have a boring, difficult, or unpleasant job that needs to be done, in most cases, putting it off isn't going to make it exciting, easy, or agreeable. On the other hand, getting it done always brings a feeling of satisfaction – even if it's only that you don't have to think about it anymore!

2)     Change your setting. 
Personally I find a change in geography can make a huge difference. It's my take on the old cliché that a change is as good as a holiday. Don't sit down and try to do the task at your usual workspace, find somewhere different. For example, it's a beautiful day today so I've chosen my folks' pool for the setting to write my boring report. But it doesn't have to be a pool, it may be a park, your back deck, even just a different room of your home or office. Give it a try and see what a difference it makes.

3)     Change your mood.
 Although it doesn't always feel like it, we are actually in control of our mood and emotional state. Quite simply, what you choose to focus on is what you will feel. So acknowledge the mood your feeling in response to the task – bored, confused, grudging etc, but don't stay there!! Decide how you would prefer to feel about the task. Once you've decided, totally focus on how you can achieve that feeling instead. So for example instead of feeling bored about writing my report, I'd like to feel excited. So I'm focussing on ways that I can look at the report, and the outcomes from it, that could be exciting. This involves changing the language I'm using to describe the task. I'm also focussing on and even visualising how good it's going to feel when the report is done. You only need to take a few minutes doing this and I can promise you they'll be very productive minutes compared to the time you're wasting complaining, procrastinating and slogging through. Just make sure it's high quality focus!

Next time you're faced with a work task that in totally uninspiring, follow my 3 step process and see if it works for you.  It's super easy. It's fast. It doesn't cost anything. And it works!

Ok, I had better get cracking on this awesome report I'm looking forward to preparing. I'm actually really excited to share these results with my fellow shareholders, so I'll smash it out quickly and reward myself with a nice dip in the pool!

Stay fabulous,


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