Is being in business like personal development? – Cleo – April 2008

If you’re in your own business you may agree. Business can be like doing a full-time, 24/7 personal development program. Each day you’re confronted with who you are, what you know, how bold you’re willing to be, how much risk you’re willing to take.. all without the safety net of a secure salary.

Cleo magazine asked me for some steps to consider when starting a business. I think they apply regardless if you’re new or experienced.

So, you want to start a business?

Discover what you can do better than others (what is your unique advantage). This can take some digging and thought!

Find Your Passion – What is that you would do even if you were not paid for it? Do what you’re passionate about is a key to the long-term enthusiasm for your business.

Find a Mentor – A mentor can help guide you, keep you accountable on track. Plus their years of business experience means that your own path can be fast-tracked.

Create a business plan – A plan is a must! You need to have a direction in which to go if you’re moving forward. A plan doesn’t have to be complicated… a one-page overview will do, but be sure it tells you where you want to go and how you’re going to get there.

Set goals – Where are you going? What will you achieve? By When?

Get Educated – No matter how well (or badly) you did at school you can still be a successful business owner, but you’ll need to learn about business. When you’re you’re own boss you need to know about more than just the immediate task. You wear many hats as a business owner so find the books, mentors, courses and networks to help you build your business skills.

Get help to get started. Consider joining the Australian Businesswomen’s Network. We help thousands of women to get started and get going, by providing business education (most of which you can take part in without leaving home), mentoring and information. Learn More at our website.

Speak Up – New Women April 2008

In April 2008 New Woman featured five businesswomen and I was lucky enough to be one of them. The photo (below) of me with a megaphone followed closely after a meeting with my coach when I told her my goal was to get out there and share information and knowledge more with other women in business. You’ve heard the saying… be careful what you wish for.

The article shared some of my business background and brought the reader up to today… when my main focus is on supporting women to grow their business by speaking out, and helping them to speak out (to promote and publicise their business).

How Flexible is Your Workplace? – Survey Results

Thank you to everyone who participated in our “How Flexible is Your Business?” survey and congratulations to the winners of our featured book “Flexible Work Solutions”!

Please click here to access the survey results.

How flexible is your business?

Flexible work arrangements – such as job sharing, compressed work-weeks and home offices – are fast gaining popularity in Australia. But how does a small business with limited resources implement solutions that suit both the business and the employees? Have your say: Do our mini-survey now and you’ll also go in the draw to win one of 10 copies of this week’s recommended book “Flexible Work Solutions”.

What’s Your Wealth Plan – Survey Results

Thank you to everyone who participated in our What’s Your Wealth Plan? mini-survey. 63% of you indicated that you have a financial plan. The most popular wealth strategies included business (74%), savings (52%) and investment property (48%). Despite participants reliance on business as their overall primary wealth strategy, 88% indicated that a lack of financial and/or business education was a barrier to financial success. Managing cash flow was the biggest concern amongst women business owners, followed by funding growth and 66.7% of you felt somewhat confident in the current state to today’s economy.

The ABN has taken your responses on board and is currently planning a series of webinars and events to assist members address these barriers, across the areas of financial planning, business development and government resources for small business.

Congratulations to the 10 winners of Mark Bouris’ new book The Yellow Brick Road to Your Financial Security: Loata Brealey, Bianca de Reus, Loueen Goodall, Carrol Jones, Judi McDonald, Rina Lee, Natasha Reynolds, Jane Skamp, Rebecca Woodcock, Daina Peel.

Free financial planning resources and reports

The Australian Securities and Investment Commission offers a “wealth” of free information about managing finances through its consumer watchdog site, Fido,  including financial tips and safety checks, financial turning points, investing, budgeting, dealing with debt, credit cards, protecting yourself, your family and your property, managing loans, socially responsible investment and superannuation.  

It also has a range of resources you can download and a “Pie in the Sky Award” for the most outrageous financial scheme that’s too good to be true.   With previous winners including interest free loans, scams and a slice of Diana, Princess of Wales’ estate “Pie in the Sky” is essential reading!

Another source of free information for women about handling money is provided by “Women Understanding Money“, a joint resource of the Australian Government’s Office for Women and the Financial Literacy Foundation.  Click here to access fourteen information sheets for women who want to build their money skills.

An interesting research report recently released by The Australian Government Financial Literacy Foundation’s is entitled “Financial Literacy – women understanding money“, which  surveyed the attitudes and behaviours of 4138 women across seven areas of financial management – budgeting, saving, investing, credit and debt, planning and retirement, protecting money and information and advice. It also has some interesting comparisons between female and male attitudes and behaviors relating to money.