tag:blogger.com,1999:blog-2302638365868404892024-03-06T12:34:35.476+11:00Money MattersYou don’t need an inner-city address, Caren will help you tackle money matters in the ‘burbs, through a better understanding of all the important issues – investing, superannuation, budgeting, tax, insurance, mortgages, gearing, shares, managed funds, small business, food, home, fashion, travel, and much more.
A fun and entertainingly educational forum, specifically designed for Australian “suburbanites".Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.comBlogger80125tag:blogger.com,1999:blog-230263836586840489.post-88649051489001193952014-10-14T10:46:00.000+11:002014-10-14T10:46:33.698+11:00We have moved!<span style="background-color: white; color: #333333; font-family: arial; line-height: 17px;">Some exciting news! The Hendrie Group are now hosting our blog within our website! This means faster and easier access for our readers. </span><br />
<span style="background-color: white; color: #333333; font-family: arial; line-height: 17px;"><br /></span>
<span style="background-color: white; color: #333333; font-family: arial; line-height: 17px;">To read our newest post <a href="http://www.hendrie.com.au/blog" target="_blank">click here</a> or visit </span><span style="color: #333333; font-family: arial;"><span style="line-height: 17px;">www.hendrie.com.au/blog </span></span><div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-80833881088813168972014-10-13T12:35:00.003+11:002014-10-13T12:35:42.330+11:00What's the deal with housing prices?<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhnvDjkAtVYxKL5L9XSMs37sFV49lHgS2SL6ZHM4EkzBCLQpA2E0IS5j4NPTorzSt36nC5gXoY_ZORbNwvxJZdg0CrfLXmjUklaU_tJ9PC885cnpldZQyysMt8Jnbgssl-3YfbOku8161E/s1600/Tips-on-Joining-a-Real-Estate-Investing-Group-1633+Image+-+Blog+161014.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhnvDjkAtVYxKL5L9XSMs37sFV49lHgS2SL6ZHM4EkzBCLQpA2E0IS5j4NPTorzSt36nC5gXoY_ZORbNwvxJZdg0CrfLXmjUklaU_tJ9PC885cnpldZQyysMt8Jnbgssl-3YfbOku8161E/s1600/Tips-on-Joining-a-Real-Estate-Investing-Group-1633+Image+-+Blog+161014.jpg" height="179" width="200" /></a>For all of you who are sick of the sound of my writing, you're in for a treat today.<br />
<br />
Property is always one of the hottest topics for us Australians, and one of my fave economists Dr Shane Oliver (Felix Stephen is still my number one) has written a terrific - and very reader friendly - article about the current state of play for housing.<br />
<br />
It's not overly long and there's some pretty pictures. Just <a href="http://newsletter.ampcapital.com.au/link/id/zzzz542268c333479865Pf99c590a9a79a2a0a276/page.html" target="_blank"><span style="color: #6aa84f;"><b>click here</b></span></a> for a copy.<br />
<br />
And if you'd like to hear more of what I have to say on the matter, <a href="http://www.hendrie.com.au/free_stuff/radio_program" target="_blank"><span style="color: #6aa84f;"><b>click here</b></span></a> for a recording of my most recent "You & Your Money" radio segment on 98.1FM Radio Eastern.<br />
<br />
Talk soon,<br />
Caren<div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-52648258098442175892014-10-06T14:36:00.001+11:002014-10-06T14:36:51.697+11:00Is your guarantee growing your business?Most business owners guarantee their work in some form or other. I'm sure you do. At the very least, there's legislation in place protecting most consumers and providing a minimum standard of service or product quality.<br />
<br />
<b>The problem is most people don't use their guarantees to best advantage.</b><br />
<br />
Most businesses don't tell you about their guarantees at all let alone promote it. And guess what, a compelling guarantee can be a very powerful marketing tool to increase sales and generate revenue.<br />
<b> </b><br />
But how, I hear you ask? Well just <a href="http://www.hendrie.com.au/free_stuff/fact_sheets" target="_blank"><b><span style="color: #6aa84f;">click here</span></b></a> for my easy-to-read <span style="color: #3d85c6;"><b>"Every Gurantee is a MARKETING Opportunity" </b><span style="color: black;">fact sheet.</span></span><br />
<br />
<span style="color: #3d85c6;"><span style="color: black;">If you'd like to hear more of what I have to say on the matter, <a href="http://www.hendrie.com.au/free_stuff/radio_program" target="_blank"><span style="color: #6aa84f;"><b>click here</b></span></a> for a recording of my most recent "You & Your Business" radio segment on 98.1FM Radio Eastern.</span></span><br />
<br />
<span style="color: #3d85c6;"><span style="color: black;">Talk soon,<br />Caren</span></span><div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-28934253951666006232014-09-15T17:48:00.001+10:002014-09-15T18:00:26.794+10:00Are you protecting your family? 5 myths BUSTED!I'm not very tall.<br />
<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgtzS3Fi-oBgvi0nHNWs20URnM-IMWNBP3OSH8qS2N4V1iZ0DdbdoLqJxLTleqRcq5oMymJ7Vh6F7jXWm0nuksE-01qQtxHvlz6mDw7UmRulvqWiIZuDWJxCimQi4_9sR9cnKGA8vAfeLM/s1600/life-insurance+Image++Blog+150914.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgtzS3Fi-oBgvi0nHNWs20URnM-IMWNBP3OSH8qS2N4V1iZ0DdbdoLqJxLTleqRcq5oMymJ7Vh6F7jXWm0nuksE-01qQtxHvlz6mDw7UmRulvqWiIZuDWJxCimQi4_9sR9cnKGA8vAfeLM/s1600/life-insurance+Image++Blog+150914.jpg" height="132" width="200" /></a>Ok, that's an understatement, I'm pretty short.<br />
<br />
5 foot nothing to be honest (perhaps still being a little dishonest).<br />
<br />
Anyway, that may be the reason I have so many soapboxes (short-girl syndrome!!) and you guessed it, I'm about to share one with you right now.<br />
<br />
For anyone who's been to one of our Family Finance presentations, you'll have heard me waxing lyrical (ok - ranting) about the fact that with everything we're taught in school, basic household financial management is not part of the curriculum.<br />
<br />
Think about it for a moment - who was it that sat you down and taught you step by step how to manage money? Things like:<br />
<ul>
<li>Budgeting</li>
<li>Shopping</li>
<li>Credit cards</li>
<li>Getting a loan</li>
<li>Compound interest</li>
<li>Living out of home</li>
<li>Earning income</li>
<li>Investing</li>
</ul>
If you were lucky your parents trained you, but in most cases no one did. And even if it was your parents, in many cases they were winging it themselves!<br />
<br />
So we're given no formal training, is it any wonder then that we often find managing money complicated, challenging, frustrating? And that it's the cause of many family arguments, not to mention tears?<br />
<br />
And by the way, if you have young children and you think the arguments you have with your partner about money are bad, wait until you have teenagers...(BTW - affordable boarding school options is another one of my soapboxes tee hee).<br />
<br />
Today I want to focus on protecting your family's lifestyle because it's an area that's often neglected and it's really important.<br />
<br />
Insurance tends to have a bad rap for the wrong reasons, mostly being that we'd rather not talk about it. Because let's face it, insurance is something that we're only ever going to get value out of if something pretty bad happens right? The problem is that by not talking about it, or not doing anything about it, we still can't stop that bad stuff from happening - it just means you could be financially devastated if it does.<br />
<br />
Anyway, rather than focus on all the reasons you should have insurance cover, because I think most people know them even if we don't like to talk about them, I thought I'd dispel the top 5 myths instead!<br />
<br />
<a href="http://www.hendrie.com.au/free_stuff/fact_sheets" target="_blank"><b><span style="color: #6aa84f;">Click here</span></b></a> for my top 5 insurance myths - BUSTED.<br />
<br />
And if it's reading that whets your appetite for information, then <a href="http://gallery.mailchimp.com/0d06891a70a523562c0667646/files/CAREN_S_COMPLETE_ARTICLE_SEPTEMBER_2013.pdf" target="_blank"><span style="color: #6aa84f;"><b>click here</b></span></a> for a copy of my article "Is it time to review our dinner time conversation" and/or <a href="http://gallery.mailchimp.com/0d06891a70a523562c0667646/files/84ce8c63-6b72-42f8-8b8b-849290621335.pdf" target="_blank"><span style="color: #6aa84f;"><b>click here</b></span></a> for some VERY interesting facts on critical illnesses...<br />
<br />
Of course, if you'd like to hear more of what I have to say on the matter, <a href="http://www.hendrie.com.au/free_stuff/radio_program" target="_blank"><span style="color: #6aa84f;"><b>click here</b></span></a> for a recording of my most recent "You & Your Money" radio segment on 98.1FM Radio Eastern.<br />
<br />
Talk soon, <br />
Caren<div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-82828642504248072062014-09-09T15:10:00.000+10:002014-09-10T12:20:06.920+10:00One word can make a difference - creating great offers<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhzQIbSkXyPNcSR_3-pqMDjpIabaxiwVnjq0-xeebPUzXXt5BaO1PZP_g1lhkv0i4Hy9P77JE1wA0QlnMyyGYzVccavinepv10oUfCV6eBg6yILQf0MZLnnDPajDaAydxgJexBu058KUPI/s1600/Image4+-+Blog+10.09.14.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhzQIbSkXyPNcSR_3-pqMDjpIabaxiwVnjq0-xeebPUzXXt5BaO1PZP_g1lhkv0i4Hy9P77JE1wA0QlnMyyGYzVccavinepv10oUfCV6eBg6yILQf0MZLnnDPajDaAydxgJexBu058KUPI/s1600/Image4+-+Blog+10.09.14.jpg" height="193" width="200" /></a></div>
<b>What does it take to create a great offer for your clients or customers?</b><br />
<br />
Remember that advertising slogan "oils ain't oils"? Well I'd also like to submit that "offers ain't offers". Most businesses make special offers to their customers or clients at some stage, and of course the objective of doing this is to entice them to buy your product or service. But an offer will only do that successfully if it's constructed properly, and to do that you need to first understand the psychology behind offers.<br />
<br />
You may not consciously realise this, but when you make an offer what you're trying to do is overcome human inertia. You're trying to create a set of circumstances that will motivate your customers or potential customers to take action.<br />
<br />
An offer gives people a reason, an incentive, AND an opportunity to try your product, service, or business for themselves. They no longer have to take your word for it - they can try the product or service or your business as a whole and find out for themselves what it's like to deal with you.<br />
<br />
Better yet, it gives them a reason to act NOW rather than later.<br />
<br />
<a href="http://www.hendrie.com.au/free_stuff/fact_sheets" target="_blank"><b><span style="color: #93c47d;">Click here</span></b></a> to read more, including important factors to understand when creating your offer, and ELEVEN offer types to consider.<br />
<br />
And if you'd like to hear more of what I have to say on the matter, <a href="http://www.hendrie.com.au/free_stuff/radio_program" target="_blank"><b><span style="color: #93c47d;">click here</span></b></a> for a recording of my most recent "You & Your Business" radio segment on 98.1FM Radio Eastern.<br />
<br />
Talk soon,<br />
Caren<br />
<br /><div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-46977719633911141642014-08-19T11:32:00.000+10:002014-08-20T12:39:10.957+10:00It's tax time - now it's a party!!!!We're well into the personal tax season, which means it's party time at The Hendrie Group, as we keep busy during one of our favourite times of year (Christmas comes a close second of course ha ha).<br />
<br />
We're still offering evening appointments through to the end of September, so if you can't come during the day then just call and make a time in the next few weeks. As you can imagine, evenings book up pretty quickly so the sooner you call us the better.<br />
<br />
The ATO's turnaround time for lodged tax returns has been pretty good, with most of them coming back just on two weeks. However, we recommend allowing three weeks as sometimes they take a little longer.<br />
<br />
We appreciate that most people don't find tax time as exciting as we do, but part of our job is to keep you informed, and this year Dean's personal tax newsletter addressed a few issues that you may find of interest including, but not limited to:<br />
<br />
<ul>
<li>A guide to 2014 tax return preparation charges;</li>
<li>How the tax-man helps you protect your family;</li>
<li>New criteria for the net medical expense tax offset;</li>
<li>A simple explanation of the Medicare Levy Surcharge;</li>
<li>Changes to the private health insurance rebate;</li>
<li>The ATO's new stance on claiming travel and overtime meal expenses;</li>
<li>Buying an investment property.</li>
</ul>
<br />
<ul>
</ul>
<a href="http://hendrie.us2.list-manage1.com/track/click?u=0d06891a70a523562c0667646&id=36611c2440&e=71c775fea8" target="_blank"><span style="color: #6aa84f;"><b>Click here</b></span></a> if you hadn't had a chance to read this year's Personal Tax Newsletter for a quick and informative look at some of this year's relevant tax issues.<br />
<br />
If you'd like to hear more of what I have to say on the matter, <a href="http://www.hendrie.com.au/free_stuff/radio_program" target="_blank"><span style="color: #6aa84f;"><b>click here</b></span></a> for a recording of my most recent "You & Your Money" radio segment on 98.1FM Radio Eastern.<br />
<br />
Talk soon,<br />
Caren<div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-77034346440860199362014-08-12T14:46:00.000+10:002014-08-13T15:51:13.729+10:0068% of clients or customers leave you for 1 reason<b>68% of clients or customers leave you for 1 reason</b><br />
<br />
It boils my blood when I hear business coaches claiming that price isn't an issue in business, that's just rubbish! That said, I completely agree that it's not the <i>only</i> issue. In fact in <i>most</i> cases it's not even the most important issue.<br />
<br />
As a Financial Adviser I like to deal with facts, and there's a survey done on a regular basis by the Technical Assistance Research Program in Washington, which addresses why customers <i>don't</i> buy from you or why they leave you and move to a competitor.<br />
<br />
The results are broken into 5 categories:<br />
<br />
<b>Convenience 3%:</b><br />
This means a person would choose not to deal with a business or would leave that business because it's more convenience to buy elsewhere.<b> </b><br />
<br />
<b>Relationship at a high level 9%</b><br />
This means that someone close to your customer opened a new business or moved to another company and they want to deal with that person because of the important relationship. It could be a close friend or a family member.<b> </b><br />
<br />
<b>Miscellaneous 5%</b><br />
This is simply those reasons that couldn't be categorised clearly.<b> </b><br />
<br />
<b>Product/price/time 15%</b><br />
This actually means potential customers want a certain product or service, at a certain price, whenever they want it - for example, right now, next week, or what have you.<b> </b><br />
<br />
<b>______________ ? 68%</b><br />
<br />
<a href="http://www.hendrie.com.au/free_stuff/fact_sheets" target="_blank"><span style="color: #6aa84f;"><b>Click here</b></span></a> to find out "The real reason customers stop doing business with you".<br />
<br />
Talk soon,<br />
Caren<div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-10615324607186934002014-07-07T17:28:00.000+10:002014-07-07T17:28:25.154+10:00A deliveryman told me I was unhealthy - what's your team telling your customers?You may recall that last year I posted about the importance of branding for smaller businesses, and I pointed out that the image, qualities and promises projected by your brand should also be reflected in every aspect of your business performance, from the satisfaction your products or services deliver to the manner in which your phones are answered and the way you deal with queries or problems.<br />
<br />
<i><b>But I missed something HUGE.</b></i><br />
<br />
I forgot to mention that anyone you employ - even on a very casual basis - also represents your brand, and you need to make sure that they're providing the same customer service experience as you do. Something happened to me recently that really drove this point home.<br />
<i><b> </b></i><br />
I do most of my grocery shopping online, and a couple of weeks ago the driver delivering my items pointed to a photo in our entry and asked if that was me. When I told him it was, he immediately asked <i>"what happened?"</i> Obviously I asked him what he meant, to which he replied, <i>"You look healthy there, now you just look skinny and sick".</i><br />
<br />
I was absolutely mortified. And it probably wouldn't surprise you to learn I won't be using the services of that business anytime soon.<br />
<i></i><br />
You see even though the business is incredibly successful and very well-known, they have a staff member who is not representing the values or the customer service of their brand.<br />
<br />
Now my example is extreme, but it raises the issue of how important it is to make sure our clients and customers are receiving the same service from our team as they do from us. And I have 4 tips to help you achieve this:<br />
<br />
<b>1. Hire the right people:</b><br />
<br />
This is obvious but not easy, and I certainly wouldn't presume to tell you what qualifications or experience you should be looking for when you're recruiting. But I will point out that you'd expect someone in a job interview to be on their best behaviour. So if they don't impress you in that first meeting as someone who'll represent your business well, they probably never will.<br />
<b> </b><br />
<b>2. Commitment</b><br />
<br />
Many business owners complain that team members 'don't take responsibility, cost too much, don't do any more than they have to, arrive late, go home early, make mistakes all the time, don't take any responsibility, blame each other or the customers, drag their family problems into work, make personal phone calls all day. It would be easier to do it myself.'<br />
<b> </b><br />
<b>If your team members are treating their roles as if it's 'just a job', it's time to get them more involved.</b><br />
<br />
The key is for you to take charge and <i>do</i> something. One strategy that a lot of really successful businesses do that can be incredibly effective is to implement a 'team commitment.'<br />
<b> </b><br />
Call a team meeting - again even if they're casual or contractors, they're part of your team and need to be involved - and explain that you want to get their involvement in more areas of the business. Tell them that you want to make a commitment to them, have them commit to their roles and, together, make some commitments to customers.<br />
<b></b><br />
Then print your team commitments and give everyone a copy - it would be great if you could get them to sign it. This could be a great marketing tool if you frame a large version, including all team members' signatures, and hang it in your reception area or shop. That way, you, your customers, and your team members have a constant reminder of your commitments.<br />
<br />
<b>3. Set expectations</b><br />
<br />
"You don't know what you don't know".<br />
<b> </b><br />
The arch-nemesis of Small business owners is time (or lack thereof) and when we employ people we ideally want them to be able to hit the ground running. We often don't have the time or resources to spend on intensive and time consuming training.<br />
<b></b><br />
The problem with this is that no matter how skilful a person is, they can't possibly meet our expectations if we never articulate them! Think about it, if they knew exactly what to do and how to do it without us, they'd probably be running their own business.<br />
<br />
At a bare minimum set <i>written</i> expectations for all team members around:<br />
<br />
- Their role and responsibilities in the business;<br />
- The flow and quality of work;<br />
- The relationship between customer and business, and their responsibilities.<br />
<br />
<b>4. Systems</b><br />
<br />
And the final step to achieving consistent brand representation from your team is having robust systems in place.<br />
<b> </b><br />
The best and most successful businesses have formal systems to help their team provide a consistent experience to their customers and clients.<br />
<br />
These may include (but are not limited to):<br />
<br />
- Step by step sales systems<br />
- Scripts for handling enquiries<br />
- Scripts for setting up meetings<br />
- Scripts for generating and/or analysing leads<br />
- Email templates<br />
- Letter and other documentation templates<br />
- A position description so that they can describe your business to potential customers in 30 seconds.<br />
<br />
Your business and your business brand is important, so when you relinquish total control of it by hiring staff, you need to make sure you retain control of how it's represented. Don't hire people who from the outset you feel won't be a positive ambassador for your business, encourage commitment from team members, set clear expectations, and put in place robust systems to help your team provide a consistent and terrific experience to your clients and customers.<br />
<br />
If you'd like to hear more of what I have to say on the matter, <a href="http://www.hendrie.com.au/free_stuff/radio_program" target="_blank"><span style="color: #6aa84f;"><b>click here</b></span></a> for a recording of my most recent "You & Your Business" radio segment on 98.1FM Radio Eastern.<br />
<br />
Talk soon,<br />
Caren<br />
<br />
PS. If you or anyone you know of is thinking of buying their first home, <a href="http://www.hendrie.com.au/free_stuff/information_session_upcoming" target="_blank"><span style="color: #6aa84f;"><b>click here</b></span></a> for details on an upcoming FREE session about what's involved in getting that first home-loan now that banks are getting tough...<div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-82257267003003299142014-06-16T16:38:00.001+10:002014-06-18T14:25:37.069+10:00Should you be managing your own super?We recently held an education session on Self Managed Superannuation Funds (SMSF). The feedback was terrific, and whilst I can't fit two hours worth of information into one blog, I can share a few of the salient points, and also extend an offer that we made on the night - not something we do very often.<br />
<br />
A SMSF is quite simply a super fund that is set up by people who want to control their own retirement savings, and has less than 5 members.<br />
<br />
What you find is that your standard super funds can be quite limiting in the types of investments that you can choose from. So for people with reasonably high super balances that can be a real disadvantage, and you find that often those people will prefer the flexibility of a much greater range of investment opportunities, and having complete control over investment decisions.<br />
<br />
The Australian Securities and Investment Commission will tell you that you probably need $200,000 - $250,000 to make it worthwhile, and that's because you need to justify the compliance or accounting costs that are involved.<br />
<br />
It's important to point out that you still pay accounting and compliance costs in a retail or industry super fund, the difference is that they are often percentage based or a combination of fixed and percentage. This means that people with small balances don't pay a lot for the accounting, but people with higher balances are actually often subsiding the costs for other people.<br />
<br />
From the research we've done over the past few years, we'd agree that at $200-$250K it's definitely worth considering, especially if you're going to be making contributions for a while, but it becomes particularly cost effective for balances of $400,000 plus. In many circumstances it will be a cheaper option than retail or industry super!<br />
<br />
Oh and that doesn't mean $400,000 per member, but combined... Just bear in mind that members of a super fund must be family or in business together.<br />
<br />
Perhaps the greatest SMSF misconception is that it is a lot of work for the members, but for the SMSF owner it doesn't need to be any more difficult than being in a standard super fund. Make your Accountant and Financial Planner (ideally under one roof) do all the hard work!<br />
<br />
Our accounting team has a specialisation in this area and we manage about 120 SMSFs and I can tell you right now that very few members want to have involvement in the compliance side of things like preparing the accounts and tax returns, updating trust deeds, writing minutes, arranging actuarial certificates...<br />
<br />
When it comes to the rules, well they're pretty much the same as for any standard super fund - the difference is that you (and your Accountant) are responsible for making sure the fund meets it's obligations.<br />
<br />
One rule that's changed relates to borrowing within a SMSF. Previously no SMSF was permitted to borrow, but now you can - within some pretty tight rules. If you're considering taking advantage of this opportunity you should definitely get advice.<br />
<br />
And finally, within your SMSF you can invest in pretty much anything that constitutes a legitimate investment - shares, property, managed funds, artwork, coin collection, wine collection - as long as it meets all the legal guidelines of the "sole purpose" test which means it MUST be solely invested for your retirement.<br />
<br />
Ok, so that's the "bare bones" summary. At our education session we offered everyone who attended a free 45 minute session to chat about whether or not a SMSF would be worth considering. We don't usually extend these offers to people who didn't attend, but in this case we're making an exception. Do-it-yourself super is an area that's growing and growing <i>fast</i> (there's currently more than 500,000 funds in Australia!!) so we want to make sure you have all the facts to make an informed decision as to whether it might be a worthwhile strategy for your long-term financial security.<br />
<br />
<a href="http://www.hendrie.com.au/free_stuff/fact_sheets" target="_blank"><span style="color: #6aa84f;"><b>Click here</b></span></a> for a copy of the offer - it expires June 30.<br />
<br />
And if you'd like to hear more of what I have to say on the matter, <a href="http://www.hendrie.com.au/free_stuff/radio_program" target="_blank"><b><span style="color: #6aa84f;">click here</span></b></a> for a recording of my most recent "You & Your Money" radio segment on 98.1FM Radio Eastern.<br />
<br />
Talk soon,<br />
Caren<div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-31548973966419698452014-06-11T09:43:00.000+10:002014-06-11T09:43:27.469+10:00Think about it now, not laterI rarely recommend that certain books are a "must" because different people have different taste, and I wouldn't presume to think that just because I like it everyone else will. But the <i>E-Myth</i> by Michael Gerber is different because it revolutionised the way people think about business. In my book (ah c'mon, it's been awhile since I threw in a bad pun), it actually <i>is</i> a must for business owners.<br />
<br />
The crux of Gerber's E-Myth theory is that very few people are "born" entrepreneurs, instead what he suggests happens is that we have an entrepreneurial seizure. One day we decide we don't want to work for anyone and we just <i>have</i> to be our own boss.<br />
<br />
Naturally, most people that go into business are really good at what they do - so a good technician - but not necessarily good at running a business.<br />
<br />
So then it's up to us to <i>develop</i> entrepreneurial skills to GROW our business. Gerber was the one who coined the phrase that you need to work "ON" your business, not just "IN" it.<br />
<br />
Now to truly be an entrepreneur and grow your business, it's critical that you "begin with the end in mind", which is a concept invented by another business brain, Steven Covey. He said, and I love this, "If your ladder is not leaning against the right wall, every step you take gets you to the wrong place faster."<br />
<br />
When we start out in business we expect to be in it for the long-term right? We have goals. Some of them loftier than others. One important goal that's often neglected is how we want it to end.<br />
<br />
If you're planning a trip you need to know where you're going before you can plan the route yeah?<br />
<br />
In order to achieve any goal you need to set it, visualise it, and plan for it. This includes ultimately exiting your business.<br />
<br />
As business owners we take significant risks on board, in anticipation that we'll be duly rewarded in the future. For most of us, we expect the prize to come in retirement (with some lifestyle rewards along the way of course), but it doesn't just magically happen. We plan for it.<br />
<br />
Do you want to sell your business for a profit? Are you hoping to cease the physical work, but remain a shareholder with a regular income? Will you simply wind down the business? Do you want a family member or staff member to succeed you?<br />
<br />
Starting with the end in mind helps you build not only the type of business you want, but also the business you need to reach your ultimate goals. And that's what it's all about - achieving goals you've set for yourself and your family.<br />
<br />
One of the most important roles of a Business Adviser is to help their clients achieve those goals, and this means regularly measuring how you're tracking towards them.<br />
<br />
Note you'll often hear me harping on about how important it is to review your business and I think most business-owners realise this and even agree with it (even if they don't always do it), but not a lot of business owners think about <i>valuing</i> their business to determine how they're tracking towards their goals. In fact, most business owners don't consider doing this unless they're about to sell.<br />
<br />
If you missed Michael Moschetti's article "Why value your business?" in our latest "4 Ways Bulletin" <a href="http://www.hendrie.com.au/free_stuff/fact_sheets" target="_blank"><b><span style="color: #6aa84f;">click here</span></b></a> because it may give you some interesting food for thought.<br />
<br />
If you'd like to hear more of what I have to say on the matter, <a href="http://www.hendrie.com.au/free_stuff/radio_program" target="_blank"><b><span style="color: #6aa84f;">click here</span></b></a> for a recording of my most recent "You & Your Business" radio segment on 98.1FM Radio Eastern.<br />
<br />
Talk soon,<br />Caren<div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-39164357262070197092014-05-15T09:44:00.001+10:002014-05-15T10:51:05.435+10:00Your relevant Budget summary: The short, the long or the video version – your choiceLast year I branded the federal budget as boring, I won’t be doing the same this year! It’s a tough budget with all Australians told to bear the burden.<br />
<br />
Tony Abbot has dubbed it “pain with a purpose” and according to Federal Treasurer Joe Hockey, “the economy is growing at less than normal speed and the time to fix the budget is now.”<br />
<br />
For families, there is a focus on healthcare and education; for high income earners, a new tax just for them; for pensioners – new eligibility rules; and for the rest of us – a little bit of extra super.<br />
<br />
For anyone who just wants an absolute bare bones budget breakdown, I’ve prepared a summary of the main points below. At the very least you can pretend to care if one of your friends or family members raises the matter.<br />
<br />
And for anyone who would like a more comprehensive look at what this year’s Federal Budget involved, I’ve catered for your taste too by including some links to a much longer report and even a video.<br />
<br />
First, the summary.<br />
<br />
Personal Taxation<br />
<ul>
<li>A levy of 2% will apply for three years to incomes over $180,000 pa, starting in 2014/15. It will increase the top marginal tax rate to 49%.</li>
<li>The levy will increase the Fringe Benefits Tax rate to 49% for three years, starting on 1 April 2015.</li>
<li>Tax offsets available for dependent spouses and mature age workers will be abolished on 1 July 2014.</li>
<li>Income thresholds determining the Private Health Insurance Rebate and Medicare Levy Surcharge will not increase for three years, starting in 2015/16.</li>
<li>Interest on HELP debts will increase, with a maximum rate of 6% pa from 1 June 2016.</li>
</ul>
<br />
Superannuation<br />
<ul>
<li>People who make after-tax (non-concessional) super contributions from 1 July 2013 that exceed the cap will have the option to withdraw the excess amount plus earnings on the excess. Currently these excess contributions are taxed at 46.5%.</li>
<li>The timeframe for increasing the Superannuation Guarantee contribution rate to 12% will be amended. The next increase, to 9.5%, will occur on 1 July 2014 where it will remain for four years. From 1 July 2018, the rate will increase by 0.5% pa before reaching 12% on 1 July 2022.</li>
</ul>
<div>
<br /></div>
Social Security<br />
<ul>
<li>The age at which people will be eligible to receive the Age Pension will increase to 70 from 1 July 2035.</li>
<li>From 1 July 2015, Family Tax Benefit – Part B will only be available to families who earn up to $100,000 pa, down from $150,000 pa. This payment will also be limited to families whose youngest child is under 6.</li>
<li>The amount of income earned to be eligible for the Commonwealth Seniors Health Care Card will increase each year in line with inflation from 20 September 2014. However, tax-free payments from superannuation pensions will be included in the income assessment from 1 January 2015 for new applicants.</li>
<li>From 20 September 2014, the Seniors Supplement will no longer be payable to holders of the Commonwealth Seniors Health Care Card. However, cardholders will still receive the Clean Energy Supplement.</li>
<li>People receiving the Disability Support Pension under age 35 may need to undertake a compulsory workforce participation plan.</li>
</ul>
<br />
It’s important to note that at this stage, the measures announced are proposals only and may or may not be made law. So don’t go acting on them just yet…<br />
<br />
If you’d like to hear more of what I have to say on the matter, <a href="http://www.hendrie.com.au/free_stuff/radio_program" target="_blank"><span style="color: #6aa84f;"><b>click here</b></span></a> for a recording of my most recent “You & Your Money” radio segment on 98.1FM Radio Eastern and <b><a href="http://f.datasrvr.com/fr1/314/43558/Tech_update-Federal_budget_Client.pdf" target="_blank"><span style="color: #6aa84f;">click here</span></a></b> for your more detailed Budget report.<br />
<br />
And if you’d prefer to watch a 6 minute youtube budget update, <a href="https://www.youtube.com/watch?v=RPpPza0uXaQ" target="_blank"><span style="color: #6aa84f;"><b>click here</b></span></a>.<br />
<br />
Talk soon,<br />
Caren<br />
<div>
<br /></div>
<div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-89043467132585646992014-05-12T16:29:00.001+10:002014-05-12T16:29:34.469+10:00What if you can't sell your business?As business owners we take significant risks on board, in anticipation that we'll be duly rewarded in the future. One of the traps many business owners fall into is ploughing everything into one asset - their business. But what if something unforeseen happens and your exit strategy doesn't pay off?<br />
<br />
Let's consider the worst case scenario whereby you can't sell your business or can only sell it for a significantly reduced price. Let's face it, that's going to be a fairly devastating situation. Not just from a financial point of view, but personally as well.<br />
<br />
But time and time again this is exactly what happens - business owners are surprised to find themselves being forced to sell their business for a lot less than expected, unable to find a buyer, winding down a business they hoped to sell, or without appropriate succession. It's a reality we can't afford to ignore.<br />
<br />
A serious threat to a lot of industries these days is technology. Consider how technology has and is impacting the following industries:<br />
<br />
Video/DVD rentals<br />
Newspapers<br />
Printing<br />
Retail<br />
Engineering<br />
<br />
I even read a Michael Pascoe article in The Age recently on how internet-enabled "ride sharing" is threatening the taxi industry.<br />
<br />
And it's not just about technology - look at what global competition is doing. We're watching almost entire industries pack up and head overseas!<br />
<br />
Ok, the purpose of today's blog is not actually to scare you, but this is an area where no business owner can afford to be complacent. We've invested too much to "hope for the best".<br />
<br />
So what can you do? Well you probably can't stop change. And you absolutely don't want to put your head in the sand about it. And you most definitely don't want to end up on some current affairs program saying technology changed and now I have to work until I'm 80...<br />
<br />
You need to at least manage some of the risk by diversifying! We all know the cliche - <i>don't put all your eggs in one basket.</i> Well it's a cliche for a reason - it's true. This is one of the fundamental risk management tools for <i>any</i> investment, <i>including your business</i>. You need to have other assets in your portfolio aside from your business - if nothing else it's a plan B.<br />
<br />
It's not going to stop the disappointment that I mentioned earlier and you won't necessarily be looking at the same financial position you'd planned for, but it will look a whole lot better than if you'd simply put everything into the business and didn't have assets elsewhere.<br />
<br />
So where exactly should you diversify?<br />
<br />
This is a question you need to ask us. Our job is to look at your overall financial position, including your business, and identify any risks and how they might be mitigated.<br />
<br />
Some typical diversified assets might include:<br />
<ul>
<li>Property - residential, commercial, business, retail, holiday let etc</li>
<li>Shares</li>
<li>Managed Funds</li>
<li>Cash</li>
<li>Term Deposits</li>
</ul>
Personally, I believe you should have most if not all of these assets in your portfolio so that in the event that your business venture doesn't achieve what's needed to support your personal goals, you have other assets that you can rely upon, not just the business.<br />
<br />
And a great way to achieve this diversification is through superannuation. Super is an absolute monty when it comes to tax savings and I don't know a single business owner that doesn't like to save some tax.<br />
<br />
<b><span style="color: red;">By contributing some of your business income to super, you can mitigate some of that risk and take pressure off your business to provide everything for you in retirement.</span></b><br />
<br />
<b><span style="color: red;"><span style="color: black;">Self Managed</span></span></b><span style="color: red;"><span style="color: black;"> Superannuation can be particularly attractive to business owners and I have a theory that's because most of us are control freaks, or what I prefer to call <i>management enthusiasts</i>. So it stands to reason we'd like to be in control of our retirement savings through super as much as we are through our business.</span></span><br />
<br />
<span style="color: red;"><span style="color: black;">In fact there are 500,000 SMSFs set up in Australia and as far as the money is concerned, we're talking about more than $15 billion. That's billion folks!</span></span><br />
<br />
<span style="color: red;"><span style="color: black;">Anyway, if this is an area of interest to you, I'm running a Q&A session with Taxation specialist <b><span style="color: red;">Michael Moschetti</span></b><span style="color: red;"><span style="color: black;"> and Investment specialist <span style="color: red;"><b>Michael Crowe</b><span style="color: black;">, about Self Managed Super.</span></span></span></span></span></span><br />
<br />
<span style="color: red;"><span style="color: black;"><span style="color: red;"><span style="color: black;"><span style="color: red;"><span style="color: black;">It will be PACKED with education information, including:</span></span></span></span></span></span><br />
<ul>
<li><span style="color: red;"><span style="color: black;"><span style="color: red;"><span style="color: black;"><span style="color: red;"><span style="color: black;"><b>Why Australians have invested more than $15 billion via Self Managed Super;</b></span></span></span></span></span></span></li>
<li><span style="color: red;"><span style="color: black;"><span style="color: red;"><span style="color: black;"><span style="color: red;"><span style="color: black;"><b>How Self Managed Super differs from standard super;</b></span></span></span></span></span></span></li>
<li><span style="color: red;"><span style="color: black;"><span style="color: red;"><span style="color: black;"><span style="color: red;"><span style="color: black;"><b>What's involved in running a fund;</b></span></span></span></span></span></span></li>
<li><span style="color: red;"><span style="color: black;"><span style="color: red;"><span style="color: black;"><span style="color: red;"><span style="color: black;"><b>How much it costs to manage a fund;</b></span></span></span></span></span></span></li>
<li><span style="color: red;"><span style="color: black;"><span style="color: red;"><span style="color: black;"><span style="color: red;"><span style="color: black;"><b>Keeping up with the rules and changes;</b></span></span></span></span></span></span></li>
<li><span style="color: red;"><span style="color: black;"><span style="color: red;"><span style="color: black;"><span style="color: red;"><span style="color: black;"><b>How to make decisions and where to go for advice.</b></span></span></span></span></span></span></li>
</ul>
<span style="color: red;"><span style="color: black;"><span style="color: red;"><span style="color: black;"><span style="color: red;"><span style="color: black;"><a href="http://www.hendrie.com.au/free_stuff/information_session_upcoming" target="_blank"><b><span style="color: #6aa84f;">Click here</span></b></a><span style="color: #6aa84f;"><span style="color: black;"> for more details and to register.</span></span><b> </b> </span></span></span></span> </span></span><br />
<br />
By the way, I read an article in The Age over the weekend about how people should be wary of seminars because the people running them are looking to stitch you up before you leave. That absolutely isn't the case at our education sessions and that's probably the reason they're so popular. Of course we hope you like what we do and will choose us to help you make sensible financial choices, but there is no hard sell, it's an education session open to everyone in the community.<br />
<br />
Ok, so the people I deal with in my work as a business adviser and financial adviser are busy and don't have time to waste, so I have to keep my advice simple and practical. And at the end of the day, it doesn't really get more practical than being prepared - and I didn't even have to go to Scouts to learn that. If you haven't diversified your assets away from just your business, then it's time to do something about that and frankly you should do it fairly urgently.<br />
<br />
<i>Of course, we're here to help!</i><br />
<br />
If you'd like to hear more of what I have to say on the matter, <a href="http://www.hendrie.com.au/free_stuff/radio_program" target="_blank"><span style="color: #6aa84f;"><b>click here<i> </i></b></span></a>for a recording of my most recent "You & Your Business" radio segment on 98.1FM Radio Eastern.<br />
<br />
Talk soon,<br />
Caren<br />
<br />
<!--[if gte mso 9]><xml>
<w:WordDocument>
<w:View>Normal</w:View>
<w:Zoom>0</w:Zoom>
<w:TrackMoves/>
<w:TrackFormatting/>
<w:PunctuationKerning/>
<w:ValidateAgainstSchemas/>
<w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid>
<w:IgnoreMixedContent>false</w:IgnoreMixedContent>
<w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText>
<w:DoNotPromoteQF/>
<w:LidThemeOther>EN-AU</w:LidThemeOther>
<w:LidThemeAsian>X-NONE</w:LidThemeAsian>
<w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript>
<w:Compatibility>
<w:BreakWrappedTables/>
<w:SnapToGridInCell/>
<w:WrapTextWithPunct/>
<w:UseAsianBreakRules/>
<w:DontGrowAutofit/>
<w:SplitPgBreakAndParaMark/>
<w:EnableOpenTypeKerning/>
<w:DontFlipMirrorIndents/>
<w:OverrideTableStyleHps/>
</w:Compatibility>
<w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel>
<m:mathPr>
<m:mathFont m:val="Cambria Math"/>
<m:brkBin m:val="before"/>
<m:brkBinSub m:val="--"/>
<m:smallFrac m:val="off"/>
<m:dispDef/>
<m:lMargin m:val="0"/>
<m:rMargin m:val="0"/>
<m:defJc m:val="centerGroup"/>
<m:wrapIndent m:val="1440"/>
<m:intLim m:val="subSup"/>
<m:naryLim m:val="undOvr"/>
</m:mathPr></w:WordDocument>
</xml><![endif]--><br />
<!--[if gte mso 9]><xml>
<w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true"
DefSemiHidden="true" DefQFormat="false" DefPriority="99"
LatentStyleCount="267">
<w:LsdException Locked="false" Priority="0" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Normal"/>
<w:LsdException Locked="false" Priority="9" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="heading 1"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 2"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 3"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 4"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 5"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 6"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 7"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 8"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 9"/>
<w:LsdException Locked="false" Priority="39" Name="toc 1"/>
<w:LsdException Locked="false" Priority="39" Name="toc 2"/>
<w:LsdException Locked="false" Priority="39" Name="toc 3"/>
<w:LsdException Locked="false" Priority="39" Name="toc 4"/>
<w:LsdException Locked="false" Priority="39" Name="toc 5"/>
<w:LsdException Locked="false" Priority="39" Name="toc 6"/>
<w:LsdException Locked="false" Priority="39" Name="toc 7"/>
<w:LsdException Locked="false" Priority="39" Name="toc 8"/>
<w:LsdException Locked="false" Priority="39" Name="toc 9"/>
<w:LsdException Locked="false" Priority="35" QFormat="true" Name="caption"/>
<w:LsdException Locked="false" Priority="10" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Title"/>
<w:LsdException Locked="false" Priority="1" Name="Default Paragraph Font"/>
<w:LsdException Locked="false" Priority="11" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtitle"/>
<w:LsdException Locked="false" Priority="22" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Strong"/>
<w:LsdException Locked="false" Priority="20" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Emphasis"/>
<w:LsdException Locked="false" Priority="59" SemiHidden="false"
UnhideWhenUsed="false" Name="Table Grid"/>
<w:LsdException Locked="false" UnhideWhenUsed="false" Name="Placeholder Text"/>
<w:LsdException Locked="false" Priority="1" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="No Spacing"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 1"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 1"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 1"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 1"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 1"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 1"/>
<w:LsdException Locked="false" UnhideWhenUsed="false" Name="Revision"/>
<w:LsdException Locked="false" Priority="34" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="List Paragraph"/>
<w:LsdException Locked="false" Priority="29" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Quote"/>
<w:LsdException Locked="false" Priority="30" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Quote"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 1"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 1"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 1"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 1"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 1"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 1"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 1"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 1"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 2"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 2"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 2"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 2"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 2"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 2"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 2"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 2"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 2"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 2"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 2"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 2"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 2"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 2"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 3"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 3"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 3"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 3"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 3"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 3"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 3"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 3"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 3"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 3"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 3"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 3"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 3"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 3"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 4"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 4"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 4"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 4"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 4"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 4"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 4"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 4"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 4"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 4"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 4"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 4"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 4"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 4"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 5"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 5"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 5"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 5"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 5"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 5"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 5"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 5"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 5"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 5"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 5"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 5"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 5"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 5"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 6"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 6"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 6"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 6"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 6"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 6"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 6"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 6"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 6"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 6"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 6"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 6"/>
<w:LsdException Locked="false" Priority="19" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"/>
<w:LsdException Locked="false" Priority="21" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"/>
<w:LsdException Locked="false" Priority="31" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"/>
<w:LsdException Locked="false" Priority="32" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"/>
<w:LsdException Locked="false" Priority="33" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Book Title"/>
<w:LsdException Locked="false" Priority="37" Name="Bibliography"/>
<w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/>
</w:LatentStyles>
</xml><![endif]--><!--[if gte mso 10]>
<style>
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:"";
mso-padding-alt:0cm 5.4pt 0cm 5.4pt;
mso-para-margin:0cm;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:"Times New Roman","serif";}
</style>
<![endif]-->
<br />
<div class="MsoNormal">
<i>PS. Please don't keep me a secret. If you know someone who’d
enjoy this or find it useful, pass it on!</i></div>
<div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-60169780438009792832014-04-14T16:34:00.000+10:002014-04-14T16:34:27.706+10:00What to consider when someone wants to borrow money from you.It's a topic I have blogged about before, but it's an important one. A friend of mine was recently burned when a friend of his loaned some money for a business venture that failed and was unable to pay him back. As you can imagine the friendship has seriously soured. I wish he'd chatted to me before he'd generously loaned the money rather than afterward.<br />
<br />
A number of years ago one of my clients came to me to ask my advice about loaning a significant amount of money to her daughter. The first question I asked was whether there was any chance that her daughter might not pay her back, to which she replied "oh there is <i>every </i>change she won't pay me back."<br />
<br />
I knew her financial position and knew that she couldn't afford that risk so told her to explain to her daughter that she wasn't in a position to help out.<br />
<br />
But there are cases where we <i>are</i> in a position to help and at the end of the day, the only person who can decide if you want to loan a friend or family member money is you, but I do have some tips.<br />
<br />
Questions to ask yourself:<br />
<br />
1. Will you suffer financially if the loan isn't repaid? If the answer is yes then my recommendation is to walk away. You don't want to put yourself into financial hardship because of somebody else's money problems.<br />
<br />
2. Will your relationship be damaged beyond repair if the loan isn't repaid? If the answer is yes then, again, I recommend walking away. You don't want to lose your relationship AND your money. In the very few times I've loaned money, I have gone into the arrangement with the attitude that if I never saw the money again, I would live with it. If I can't feel that way then I just don't do it.<br />
<br />
3. How formal do you want the arrangement to be? If someone asks to borrow money from you, particularly if it's what you consider to be a sizeable amount, then you have the right to expect a formalised written agreement. The written agreement should state the amount borrowed, any interest that may apply, payment terms (how much and how often), and the date the loan should be finalised.<br />
<br />
I'd recommend having the agreement drawn up by a solicitor and I personally believe that the person borrowing the money should foot the cost of the fees.<br />
<br />
4. Will you charge interest? And if so, at what rate? Often loans between friends or family members are no interest or low interest and this is of course up to you. You may wish to apply a market rate of interest, particularly if you believe there's a reasonable chance that you might not get your money back. Perhaps it's unlikely that person will be able to get a loan from a bank or other lending institution and would be more than happy to pay the market rate to obtain the capital.<br />
<br />
You do need to be aware that legally you have to declare all interest to the ATO, even if it's a loan between friends or family.<br />
<br />
5. If it's not a formal written agreement, what are your terms? Even if you decide not to formalise the agreement, I do think you need to be clear on the terms. Your terms might include a structured amount to be credited to your account each month or a lump sum to be paid at the end of a certain period.<br />
<br />
6. And once you've decided the terms, what happens if the terms aren't met? At what point are you going to start jumping up and down or at least give a little nudge? That's probably something you should also agree upon from the start. And if the loan is never repaid - what are you going to do? If an agreement is in place, are you going to take legal action?<br />
<br />
Probably the best advice I can offer is to be totally up-front right from the start. You may feel a little awkward, but if someone has had the courage to ask you for a loan, then setting the terms should definitely be your prerogative and should be expected. Some ideas for approaching this might include:<br />
<br />
"This is a lot of money to me and while I'm happy to loan it to you, I will need it to be repaid in monthly instalments by July. Is that going to work for you?"<br />
<br />
"I won't need the money for the next twelve months, but after that I really do have plans for it. Will you be able to pay me back by September next year? And will you do that as a lump sum or regular payments?"<br />
<br />
"I'm happy to loan you some money, but I have to be honest, I've seen some relationships turn really sour when money is involved and I would hate that to happen to us. Would you be agreeable to formalising the arrangement so that we don't have to worry about any of that?"<br />
<br />
"If you happen to miss a payment, do you want me to give you a reminder straight away or give you a few days in case it's just slipped your mind?"<br />
<br />
At the end of the day it comes down to personal circumstances and your relationship with the person needing a loan. Just make sure you consider the risks involved and what you need from the arrangement.<br />
<br />
If you'd like to hear more of what I have to say on the matter, <a href="http://www.hendrie.com.au/free_stuff/radio_program" target="_blank"><span style="color: #6aa84f;"><b>click here</b></span></a> for a recording of my most recent "You & Your Money" radio segment on 98.1FM Radio Eastern.<br />
<br />
Talk soon,<br />
Caren <div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com1tag:blogger.com,1999:blog-230263836586840489.post-42785744982502358672014-04-04T12:39:00.000+11:002014-04-04T13:38:56.733+11:00Should business owners exhibit at events? 8 tips...<div style="text-align: justify;">
<b>To exhibit or not to exhibit...</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
I'm often asked whether exhibiting at an event is a good idea for a business-owner and, as is often the case, the answer is "it depends". Having a stand at an exhibition can be expensive and, even when it's not, it's a big chunk out of your day or weekend, so you need to make sure it's worthwhile.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Here are my 8 top tips to consider before you commit:<span style="color: #3d85c6;"> </span><br />
<br />
<h3>
<span style="color: #3d85c6;">Before the exhibition</span><span style="color: #3d85c6;">:</span><span style="color: #3d85c6;"><b><span style="color: black;"> </span></b></span></h3>
<h3>
<span style="color: #3d85c6;"><b><span style="color: black;"> </span></b></span></h3>
<span style="color: #3d85c6;"><b><span style="color: black;">1. Be selective.</span></b></span><span style="color: #3d85c6;"><span style="color: black;"> </span></span><br />
<br />
<span style="color: #3d85c6;"><span style="color: black;">Don't just take any opportunity to have a stand at an event. You need to do your homework and ask the organiser the following questions (at least):</span></span></div>
<ul style="text-align: justify;">
<li><span style="color: #3d85c6;"><span style="color: black;">Who do they expect the event to appeal to?</span></span></li>
<li><span style="color: #3d85c6;"><span style="color: black;">Who will they be targeting/inviting?</span></span></li>
<li><span style="color: #3d85c6;"><span style="color: black;">How will they be promoting the event - where, when and how often?</span></span></li>
<li><span style="color: #3d85c6;"><span style="color: black;">How many people do they expect to attend?</span></span></li>
<li><span style="color: #3d85c6;"><span style="color: black;">How many exhibitor stands are they offering?</span></span></li>
<li><span style="color: #3d85c6;"><span style="color: black;">What facilities will they have for each stand?</span></span></li>
<li><span style="color: #3d85c6;"><span style="color: black;">Is there an opportunity for you to also present?</span></span></li>
</ul>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;">Unless you're incredibly lucky, expos are pretty hit and miss. Even if people seem really interested on the day, it's unlikely you'll hear from most of them again. So don't waste your valuable time, energy and money on exhibitions that don't specifically cater to your target market and where the organisation of the event isn't top notch.</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><b>2. Be prepared.</b></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;">This may sound obvious but it's surprising how many business owners leave their exhibition planning to the last minute - and not only is it stressful, but it usually shows... You'll have limited space so think about the decoration and props you want to use as part of your display. Set it up at home or in the office to see how it looks - don't just hope for the best on the day. Once it's set up the way you like, take a photo so you can easily replicate it on the day.</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;">Write a comprehensive list of all the things you want to take with you on the day and check it off as you pack your car the night before. Don't forget incidentals like sticky tape, blu-tac, scissors, snacks etc.</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;">Choose the main message about your business that you want to be able to get across to people who visit your stand. In many cases you will only have a few minutes, maybe even seconds, to engage people so you don't have time to fluff around! This is where your positioning statement is really important.</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;">Think carefully about what you want to have as a giveaway at your stand. A gimmicky gift is fun and will often grab attention, but doesn't necessarily make you memorable afterward. You should also make sure you give away something that the attendees will <i>value</i>. Something that makes them think about your business afterward and want to learn more about you. A great idea in this age of information is to actually give away some of your intellectual property. Given you're only exhibiting to your target market and of course you know all the WIIFMs (what's in it for me) your business offers them, you should be able to come up with an article, fact sheet or video that's content driven and valuable to them. This positions you as an expert, which is what they're really looking for.<span style="color: #3d85c6;"> </span></span></span><br />
<br />
<h3>
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;">At the event:</span></span></span><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><b><span style="color: black;"> </span></b></span></span></span><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><b><span style="color: black;"> </span></b></span></span></span></h3>
<br />
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><b><span style="color: black;">3. You are your brand.</span></b></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;">On the day, remember that you're representing your business brand, so make sure you dress and behave in a way that's consistent with your business message.</span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><b>4. Ask questions.</b></span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;">One of the biggest mistakes exhibitors make is talking too much about themselves and their business. This is completely understandable given the financial and time investment you've made for this stand, but is in fact the wrong approach. Remember it's all about the potential client or customer, so you need to be an "information getter" rather than an "information giver". Ask lots of questions and take a genuine interest in the people you're talking to and you won't have to bring up your business at all - they'll ask you about it! And because you've taken a few minutes to get to know them, you'll be able to talk about your business specifically in relation to how it can help them.</span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;">Oh, and don't forget to take the time to talk to other exhibitors. Even if they're not your target market, they're clearly targeting the same market as you are, so there might be some awesome collaboration opportunities you can explore.</span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><b>5. Get details!!!!</b></span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;">I can't stress this enough - you need to make sure you get the details of as many attendees as possible for your database. <b>This is the most important purpose of exhibiting at an event. </b>Opportunities to do business at the actual event are limited and even if you do reasonably well, when offset against the cost of exhibiting (including your time before and during the event) in most cases the result is still fairly minimal.</span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;">The value is in your "follow-up" - a critical point most exhibitors completely miss and then wonder why it "didn't work".</span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;">A great way to get details is to offer a prize. Make it something that's valuable to your target market and don't necessarily make it anything related to your product or service. You may prefer to ask people to join your mailing list, which is fine so long as you let them know exactly what they can expect from this service.<b><span style="color: #3d85c6;"> </span></b></span></span></span></span><br />
<br />
<h3>
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><b><span style="color: #3d85c6;">After the event:</span></b></span></span></span></span><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"> </span></span></span></span></span></span></h3>
<br />
<span style="font-weight: normal;"><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;">The advantage of an exhibition is that you get to put yourself and your "wares" in front of a large group of people. Furthermore, they're often like-minded people. On the negative side, there's a lot of other "stuff" going on so you usually only get a short time with potential customers or clients. There are other shiny things to distract them...</span></span></span></span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><b>6. Keep your promises.</b></span></span></span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;">If you've promised to contact someone personally then you must do that and do it quickly. Most people will give you a grace period of a week, after that they're starting to wonder about your reliability and business efficiency. Not to mention they've started going cold on your product or service anyway.</span></span></span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><b>7. Get in touch but with respect.</b></span></span></span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;">If you collected contact details "in bulk" (ie. business cards, written list) then my strong advice is <i><b>low gradient</b></i> contact. What I mean by that is that you absolutely shouldn't start bombarding people with <b>pushy</b> sales calls, emails or letters. I recommend a series of increasing gradient steps, letting people progress along at their own pace. You need to sell philosophy and methodology before you engage a new client or customer.</span></span></span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;">Take it easy. If there's mutual benefit and the fit is right, it'll happen. If you're contacting someone that hasn't specifically asked you to call/email/mail them, you need to respect their boundaries.</span></span></span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><b>8. Don't waste the opportunity.</b></span></span></span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;">Many years ago I attended an expo that I spent a lot of time preparing for and then worked hard over two days to meet people and to build our database with their details. The prize was terrific and expensive - a weekend away at Heritage Golf Course - and I collected hundreds of attendee details. I was so pleased with myself. But guess what I did when I got back to the office? Ummmmmm - nothing! I never followed up! After all that hard work and great result, I never added the names to our database and I never got in touch with any of those potential clients. What a complete waste of time and money. It was about 15 years ago, but I'm still kicking myself.</span></span></span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><b>Whatever you do, make sure you add the details to your database and make contact within a week.</b> Don't miss or waste a great opportunity by procrastinating. And of course, if you're using email (a nice inexpensive option) don't forget to include the unsubscribe option (and don't feel bad when anyone <i>does</i> unsubscribe, it just means your information is not for them and they're cleaning up your database for you).</span></span></span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;">Hopefully that gives you some direction for when you're next presented with an opportunity to exhibit at an event. Follow my 8 tips and you'll be able to make sensible decisions about where you choose to exhibit and make it a super success when you do!</span></span></span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;">If you'd like to hear more of what I have to say on the matter, <a href="http://www.hendrie.com.au/free_stuff/radio_program" target="_blank"><span style="color: #6aa84f;"><b>click here</b></span></a> for a recording of my most recent "You & Your Business" radio segment on 98.1FM Radio Eastern.</span></span></span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;">Talk soon,</span></span></span></span></span></span></div>
<div style="text-align: justify;">
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;">Caren</span></span></span></span></span></span><br />
<br />
<span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><span style="color: #3d85c6;"><span style="color: black;"><i>PS. Please don't keep me a secret. If you know someone who'd enjoy this</i> <i>or find it useful, pass it on!</i></span></span></span></span></span><b><span style="color: black;"> </span></b></span></div>
<span style="color: #3d85c6;"><b><span style="color: black;"> </span></b> </span><div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-87080041516830884882014-03-17T15:15:00.000+11:002014-03-20T16:06:10.361+11:00New Credit Rating rules you need to understand<div style="text-align: justify;">
Any time you apply for a loan, your information is shared by lenders for the purpose of assessing what sort of credit risk you pose. This obviously helps them determine whether or not they're prepared to loan you money or not.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
New <b>Comprehensive Credit Reporting</b> changes the way credit information can be shared by lenders and will have a significant impact on whether or not your application for financial credit will be approved.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Up until recently, you really only received a negative credit score if you defaulted on a loan or didn't pay a bill. But as of 12 March 2014, loan and credit repayment details are just one of the additional pieces of information that lenders can pass on to credit bureaus as part of a new more comprehensive credit reporting regime.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Under the new rules, there'll be a lot more data sharing and a lot more information available to your financial institution. In fact, every time someone misses paying a bill or loan re-payment of more than $150 by more than five days, <b>their credit file is marked and their credit rating is affected.</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
On the flipside, under the new regulations, the data provided will also include positive information such as how often repayments have been made on time, so you can actually be <i>rewarded</i> for your years of good behaviour.<br />
<br />
The type of information your financial institution will be able to obtain as part the new credit checks include:</div>
<ul style="text-align: justify;">
<li>If repayments have been made on time over a two-year period;</li>
<li>If payment of a bill over $150 is more than 60 days late, it will be listed as a default;</li>
<li>The limit on credit cards that you have applied for;</li>
<li>The date your credit account was opened, type of account, and when it was closed; and</li>
<li>If, because of a default, someone has entered into a new varied arrangement for repayments.</li>
</ul>
<div style="text-align: justify;">
For more information on the new regulations, what it will mean for you and other ways you can take control of your credit history, <a href="http://www.creditsmart.org.au/" target="_blank"><b><span style="color: #6aa84f;">click here</span></b></a>.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
In the meantime<span style="color: #6aa84f;"><span style="color: black;">, <a href="http://www.hendrie.com.au/free_stuff/fact_sheets" target="_blank"><span style="color: #6aa84f;"><b>click here</b></span></a> for our brochure on Protecting Your Credit Reputation, which includes more details on the new rules, as well as handy tips for getting yourself a good credit rating, and avoiding a poor rating.</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #6aa84f;"><span style="color: black;">Of course if you'd like to hear more of what I have to say on the matter<span style="color: #6aa84f;"><span style="color: black;">, <a href="http://www.hendrie.com.au/free_stuff/radio_program" target="_blank"><span style="color: #6aa84f;"><b>click here</b></span></a> for a recording of my most recent "You & Your Money" radio segment on 98.1FM Radio Eastern.</span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">Talk soon,</span></span></span></span></div>
<div style="text-align: justify;">
<span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">Caren</span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">PS. Special thanks to our Senior Financial Adviser Michael Crowe from whom I pinched a lot of this information!</span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">PPS<i>. Please don't keep me a secret! If you know someone who'd enjoy this or find it useful, pass it on!</i> </span></span> </span></span></div>
<br /><div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-69731151719118357592014-03-12T13:47:00.000+11:002014-03-12T13:59:47.031+11:00Hate bookkeeping? Some handy tips.<b><span style="font-size: large;">Do what you do best, and that's <i>not</i> bookkeeping (unless you <i>are</i> a bookkeeper)!</span></b><br />
<br />
<b><span style="font-size: large;"><span style="font-size: small;">Read to the end for details on our free education session for local business owners.</span></span></b><br />
<br />
<span style="font-size: large;"><span style="font-size: small;">I'm always telling business owners they should be spending their time doing what they do best, and frankly - unless you are a bookkeeper - that's NOT bookkeeping. But it's vital for all businesses to know how they're doing.</span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;">You need to know if you're actually making money and whether you are in a position to grow and improve your business. To do this you need to have accurate financial records. Not to mention that it's a legal obligation and if you don't get it right it can be very expensive.</span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;">A lot of this can depend upon the software you use. And just because one package is good for one business owner doesn't mean it's the best one for you. Often the cheapest option is not the best, and while it may save you in the initial outlay it will cost you in time and efficiency. You need to consider:</span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;"><b>Who is doing the bookkeeping?</b></span></span><br />
<span style="font-size: large;"><span style="font-size: small;">If you have a spouse or qualified bookkeeper maintaining the records for you then having quality software to work with means there's less likely to be errors.</span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;">And if you're the bookkeeper, <i>as well</i> as the business owner, <i>as well</i> as the business manager, <i>as well</i> as the key worker, then your time is precious and you definitely don't want to be wasting valuable chargeable time fighting outdated or inappropriate software.</span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;">Don't stick with a particular software just because it's what you've always used - explore your options. You might be surprised by what's available, and the small amount of training required might be nothing compared to the time you'll free up to do what you do best, not to mention less stress.</span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;">One of the options that is worth exploring is cloud based accounting software, especially if you move around a bit in your working day. Cloud accounting software allows you to work anywhere, anytime, on any device. Invoice on the spot with your smart phone, and thereby improve your cashflow. And we all know cashflow is still king.</span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;">Software aside, unless you have a specific expertise in bookkeeping then we always recommend getting good advice for your business. Yes, you will need to pay for it - but perhaps not as much as you think. And the cost is usually negligible compared to what you save by getting it right the first time. Perhaps even more importantly, it gives you time to spend building your business rather than the compliance work, which someone else can probably do faster and more accurately than you anyway.</span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;">At the very least, you should consider having an expert look at your processes to make sure you're doing everything correctly and as efficiently as possible. That way even if you do wish to do your own book work, you know you're on the right track.</span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;">Last year we published an article by expert Jenny Edwards "5 Bookkeeping Pitfalls for Business Owners" that received lots of great feedback from our business clients. If you missed it, just<span style="color: #6aa84f;"> <span style="color: black;"><a href="http://www.hendrie.com.au/free_stuff/fact_sheets" target="_blank"><span style="color: #6aa84f;"><b>click here</b></span></a><a href="http://www.hendrie.com.au/free_stuff/fact_sheets" target="_blank"></a></span></span></span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;"><span style="color: #6aa84f;"><b><span style="color: black;">And finally, on Tuesday 25 March at 5.45pm, The Hendrie Group is hosting a <span style="color: #6aa84f;">FREE education session <span style="color: black;">about Xero Cloud Accounting software for all local business owners.</span></span></span></b></span></span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;"><span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">We have no ties with Xero, but as an Accounting firm we want to keep you up-to-date with your options and Xero is a pretty good offering for many business owners. Most importantly, we feel it can save you time and stress so that you can focus on what you do best. <b>After all, you probably didn't go into business to be a bookkeeper...</b></span></span></span></span></span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;"><span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">At our own cost, we've engaged an expert to give you a live demonstration of the benefits of Xero cloud software.</span></span></span></span></span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;"><span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">We want to help you decide if moving to Xero is appropriate for your business, and if you're already using the software - we want to help you make the most of it.</span></span></span></span></span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;"><span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">Drinks and nibbles provided from 5.45pm with the presentation starting at 6pm and running for 60 minutes.</span></span></span></span></span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;"><span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;"><a href="http://www.hendrie.eventbrite.com.au/" target="_blank"><b><span style="color: #6aa84f;">Click here</span></b></a><span style="color: #6aa84f;"><span style="color: black;"> to register online of call us on <b>9725 2533.</b></span></span></span></span></span></span></span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;"><span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">If you'd like to hear more of what I have to say on the matter, <a href="http://www.hendrie.com.au/free_stuff/radio_program" target="_blank"><b><span style="color: #6aa84f;">click here</span></b></a><span style="color: #6aa84f;"><span style="color: black;"> for a recording of my most recent "You &Your Business" radio segment on 98.1 FM Radio Eastern.</span></span></span></span></span></span></span></span></span></span><br />
<br />
<span style="font-size: large;"><span style="font-size: small;"><span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">Talk soon,<br />Caren </span></span><b> </b></span></span><b> </b></span></span></span></span></span></span><b><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;"> </span></span></span> </b><br />
<br />
<!--[if gte mso 9]><xml>
<w:WordDocument>
<w:View>Normal</w:View>
<w:Zoom>0</w:Zoom>
<w:TrackMoves/>
<w:TrackFormatting/>
<w:PunctuationKerning/>
<w:ValidateAgainstSchemas/>
<w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid>
<w:IgnoreMixedContent>false</w:IgnoreMixedContent>
<w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText>
<w:DoNotPromoteQF/>
<w:LidThemeOther>EN-AU</w:LidThemeOther>
<w:LidThemeAsian>X-NONE</w:LidThemeAsian>
<w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript>
<w:Compatibility>
<w:BreakWrappedTables/>
<w:SnapToGridInCell/>
<w:WrapTextWithPunct/>
<w:UseAsianBreakRules/>
<w:DontGrowAutofit/>
<w:SplitPgBreakAndParaMark/>
<w:EnableOpenTypeKerning/>
<w:DontFlipMirrorIndents/>
<w:OverrideTableStyleHps/>
</w:Compatibility>
<w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel>
<m:mathPr>
<m:mathFont m:val="Cambria Math"/>
<m:brkBin m:val="before"/>
<m:brkBinSub m:val="--"/>
<m:smallFrac m:val="off"/>
<m:dispDef/>
<m:lMargin m:val="0"/>
<m:rMargin m:val="0"/>
<m:defJc m:val="centerGroup"/>
<m:wrapIndent m:val="1440"/>
<m:intLim m:val="subSup"/>
<m:naryLim m:val="undOvr"/>
</m:mathPr></w:WordDocument>
</xml><![endif]--><br />
<!--[if gte mso 9]><xml>
<w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true"
DefSemiHidden="true" DefQFormat="false" DefPriority="99"
LatentStyleCount="267">
<w:LsdException Locked="false" Priority="0" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Normal"/>
<w:LsdException Locked="false" Priority="9" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="heading 1"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 2"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 3"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 4"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 5"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 6"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 7"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 8"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 9"/>
<w:LsdException Locked="false" Priority="39" Name="toc 1"/>
<w:LsdException Locked="false" Priority="39" Name="toc 2"/>
<w:LsdException Locked="false" Priority="39" Name="toc 3"/>
<w:LsdException Locked="false" Priority="39" Name="toc 4"/>
<w:LsdException Locked="false" Priority="39" Name="toc 5"/>
<w:LsdException Locked="false" Priority="39" Name="toc 6"/>
<w:LsdException Locked="false" Priority="39" Name="toc 7"/>
<w:LsdException Locked="false" Priority="39" Name="toc 8"/>
<w:LsdException Locked="false" Priority="39" Name="toc 9"/>
<w:LsdException Locked="false" Priority="35" QFormat="true" Name="caption"/>
<w:LsdException Locked="false" Priority="10" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Title"/>
<w:LsdException Locked="false" Priority="1" Name="Default Paragraph Font"/>
<w:LsdException Locked="false" Priority="11" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtitle"/>
<w:LsdException Locked="false" Priority="22" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Strong"/>
<w:LsdException Locked="false" Priority="20" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Emphasis"/>
<w:LsdException Locked="false" Priority="59" SemiHidden="false"
UnhideWhenUsed="false" Name="Table Grid"/>
<w:LsdException Locked="false" UnhideWhenUsed="false" Name="Placeholder Text"/>
<w:LsdException Locked="false" Priority="1" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="No Spacing"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 1"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 1"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 1"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 1"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 1"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 1"/>
<w:LsdException Locked="false" UnhideWhenUsed="false" Name="Revision"/>
<w:LsdException Locked="false" Priority="34" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="List Paragraph"/>
<w:LsdException Locked="false" Priority="29" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Quote"/>
<w:LsdException Locked="false" Priority="30" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Quote"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 1"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 1"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 1"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 1"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 1"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 1"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 1"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 1"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 2"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 2"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 2"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 2"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 2"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 2"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 2"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 2"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 2"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 2"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 2"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 2"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 2"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 2"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 3"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 3"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 3"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 3"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 3"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 3"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 3"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 3"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 3"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 3"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 3"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 3"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 3"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 3"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 4"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 4"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 4"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 4"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 4"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 4"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 4"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 4"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 4"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 4"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 4"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 4"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 4"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 4"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 5"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 5"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 5"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 5"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 5"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 5"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 5"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 5"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 5"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 5"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 5"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 5"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 5"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 5"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 6"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 6"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 6"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 6"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 6"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 6"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 6"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 6"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 6"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 6"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 6"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 6"/>
<w:LsdException Locked="false" Priority="19" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"/>
<w:LsdException Locked="false" Priority="21" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"/>
<w:LsdException Locked="false" Priority="31" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"/>
<w:LsdException Locked="false" Priority="32" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"/>
<w:LsdException Locked="false" Priority="33" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Book Title"/>
<w:LsdException Locked="false" Priority="37" Name="Bibliography"/>
<w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/>
</w:LatentStyles>
</xml><![endif]--><!--[if gte mso 10]>
<style>
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:"";
mso-padding-alt:0cm 5.4pt 0cm 5.4pt;
mso-para-margin:0cm;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:"Times New Roman","serif";}
</style>
<![endif]--><i>
</i><br />
<div class="MsoNormal">
<i>PS. Please don't keep me a secret. If you know someone who’d
enjoy this or find it useful, pass it on!</i></div>
<b><span style="font-size: large;"><span style="font-size: small;"> </span> </span></b><div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-54130841983343171052014-02-19T16:47:00.000+11:002014-02-20T12:46:07.047+11:00Guest blogger John Hendrie talks about 2014<div style="text-align: justify;">
This is my first blog, so thanks to Caren for the opportunity.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
I was going to promise to be shorter than Caren usually is, but given she's 5ft nothing that would be difficult for anyone...</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Enough with the bad jokes, I want to give you a wrap up of investment markets in 2013 as well as a quick outlook for 2014.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Finally, I have a special offer if you're quick.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>2013 wrap up</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
2013 turned out to be another good year for investors. The sharemarket responded well to various threats fading, and the global economy looking much healthier with improving growth, low inflation and low interest rates. So we had some solid overall sharemarket returns, and for many investors it translated to often significantly higher than average returns for their portfolios. And of course property continued to also do very well despite lots of talk of a bubble.<br />
<br /></div>
<div style="text-align: justify;">
<b> </b></div>
<div style="text-align: justify;">
Caren and I are both strong advocates for taking care not to believe everything you read or hear, and to that end, it's interesting that some of the newsworthy predictions didn't come true:</div>
<div style="text-align: justify;">
<br /></div>
<ul style="text-align: justify;">
<li>The US did not go off the fiscal cliff or default on its debt and the much feared inflation lift off failed to materilise;</li>
<li>The Euro did not fall apart despite a few scares involving Italy, Cyprus, etc;</li>
<li>China did not hard land despite reports of "ghost cities" and claims of massive debt;</li>
<li>and Australia did not have a recession despite the mining slowdown.</li>
</ul>
<div style="text-align: justify;">
In fact - and this can be hard for the media - most of the news for 2013 was good. We even saw Japanese shares return 49% for the period January to November.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Probably the worst sharemarket news that came out of 2013 was that emerging market countries didn't perform as expected - particularly Brazil, India and Indonesia.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>So what can we expect for 2014?</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Earlier this month I was reading a report by Dr Shane Oliver, who I know is one of Caren's favourite economists and I'm sure she often shares his views with listeners. He commented that he was "cautiously optimistic" about the outlook for 2014 and I thought this was a pretty fair way of putting it.<br />
<br /></div>
<div style="text-align: justify;">
<b> </b></div>
<div style="text-align: justify;">
All current signs point towards another good year, in fact another good few years.</div>
<ul style="text-align: justify;">
<li>Historically we're still in the positive part of the market cycle</li>
<li>Inflation remains low, and likely to stay this way for awhile</li>
<li>Global growth looks positive</li>
<li>US interest rates look to remain low, although this may change towards the end of the year.</li>
</ul>
<div style="text-align: justify;">
<b>Domestically</b> we have an environment of rising profits and low inflation which bodes well for the sharemarket. Coming back to Shane Oliver's report, he is forecasting that the ASX 200 will rise to around 5800 by end of 2014 - still not quite back to the heady days of 6,800 in November 2007, but at least moving in the right direction. It also seems likely that resources and industrials that underperformed over the last year are likely to outperform this year.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>Globally, </b>Oliver favours Europe, Japan and parts of North Asia including China (which are also cheap) over the US and emerging markets generally. All these regions have had messy histories over the past few years, and should benefit from much more favourable circumstances and in many cases offer shares that are excellent value for money - even cheap.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Of course investor sentiment is one the great drivers of sharemarket behaviour, so along with the growth will come volatility. We've gone through a number of years where uncertainty was a major influence in investor behaviour, and whilst that might be easing, it hasn't gone away. In fact Oliver predicts a correction in the next few months, and then a continued rising trend.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Now there are always risks and uncertainty when it comes to sharemarket investing - and that's ok, because if there wasn't then you wouldn't get the corresponding reward. But based on where things stand at the moment, and the most likely economic scenarios, I think, like Dr Shane Oliver, we can be <b>"cautiously optimistic".</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
And on that note, I've mentioned Dr Shane Oliver's paper a few times today, so please <b><span style="color: #6aa84f;"><a href="http://www.hendrie.com.au/free_stuff/fact_sheets" target="_blank">click here</a></span> </b>if you'd like to read it in its entirety.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b><span style="color: red;">Special offer</span></b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;">For a much more detailed look at the outlook for the next few years, I'd like to invite you along to our special market update on Tuesday night at 7pm at our business and training room at 23 Lacey Street, Croydon.</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;">We have Felix Stephen, one of Australia's most reputable economic historians coming down from Sydney to present exclusively for The Hendrie Group. We won't be trying to sell you anything, but it's a great way for us to showcase what we do and the pretty amazing people we have access to. Not only has Felix got it right most of the time - which is unusual for an economist, but he also has a sense of humour and his presentations are highly entertaining. The positive feedback whenever we have Felix present is overwhelming.</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;">We only have a few places left, so if you'd like to come along I'd encourage you to register as soon as possible to secure your place. <b><span style="color: #6aa84f;"><a href="http://www.hendrie.com.au/free_stuff/information_session_upcoming" target="_blank">Click here</a></span></b><span style="color: #6aa84f;"> <span style="color: black;">for more information and to register online, or call us on 9725 2533.</span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">Again, that's <b>7pm on Tuesday 25th at The Hendrie Group business and training centre at 23 Lacey Street, Croydon.</b></span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">Thanks for having me, if you'd like to hear more of what I have to say on the matter, <b><span style="color: #6aa84f;"><a href="http://www.hendrie.com.au/free_stuff/radio_program" target="_blank">click here</a></span></b><span style="color: #6aa84f;"><span style="color: black;"> for a recording of my recent "You & Your Money" radio segment on 98.1FM Radio Eastern.</span></span></span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">Best regards,</span></span></span></span></span></span></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">John </span></span><b> </b> </span></span> </span></span><b><span style="color: red;"> </span></b></div>
<div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-38917878134437377862014-01-31T15:59:00.002+11:002014-02-12T17:11:48.667+11:00The telephone and fingernails - a timely reminder for any business owner<div style="text-align: justify;">
Remember the days when your telephone was plugged into the wall and if you weren't in the office or at home - the phone didn't get answered?</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Those days are loooooooooooong gone!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
As business owners, we are rarely more than a metre away from our mobile phone and it seems there are very few no-go zones when it comes to where we're prepared to take a call.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
When it comes to business, most of us are highly dependent on our telephone but I believe it's an area a lot of businesses take for granted BUT an area that if used properly could lead to making more money.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
One of the disadvantages of dealing with our clients or customers over the telephone rather than face to face is that we don't have the benefit of facial expressions and physical gestures.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
So we need to employ our people skills even more over the phone than when we meet with someone.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b><span style="color: red;">A personal example</span></b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Last year my wonderful nail technician was going away on holiday and I needed to find someone else to do my nails for me. So I telephoned a salon that was local and provided the service I was after.</div>
<div style="text-align: justify;">
<b><span style="color: red;"> </span></b></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;">The lady who answered the phone did so in a very cold and unfriendly tone, perhaps she may have been trying to be professional, but remember without facial expressions I could only go by the sound of her voice.</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;">When I gave her the date I wanted to come in, she audibly huffed down the phone and said "the only time I can give you is 3.15pm". First, 3.15pm was perfectly fine with me but the way she spoke made it sound like a problem. And there were so many better ways she could have addressed the issue, she could have even turned it into a positive with a quick "you're lucky we have one spot available...."</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;">It wasn't as if I was asking her to do it for free. Anyway I told her 3.15pm was fine.</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;">Her next question was "So who am I talking to?" and then in the middle of taking down my details, she interrupted and said in a clipped tone "now you do realise that we only use biosculpture gel?" And waited for me to answer.</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;">I didn't know what to say because I honestly didn't know the purpose of the comment so eventually I said to her "No, but it's what I'm used to, is that a problem?" To which she replied "No just want to make sure you understood." I was starting to feel like a naughty school girl...</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;">She asked where I heard of them and I explained the internet to which she <i><b>sniggered</b></i>. When I asked what was funny she said "well it's just we don't have a website so it's interesting you found us on the internet."</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;">Again, I didn't know what to say. Clearly she didn't understand that you can find a business on the internet even if they don't have a website, yet somehow I ended up being made to feel the fool. So I just confirmed the date and the time of 3.15pm and she huffed again and said "No you better make it 3pm." As it turns out, I was available at 3pm but there was no consideration for what I wanted at all.</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;">By the time I got off the phone I felt very flat and it probably comes as no surprise to learn that I cancelled the appointment. Instead of taking the opportunity to make a potential new client feel welcome and appreciated, she made me feel like I was putting her out and frankly I don't need to pay someone to make me feel that way.</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;"><b><span style="color: red;">The real value of information</span></b></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The phone shouldn't be a selling tool or an information tool - it's a help tool. It's a way for you to help your clients or customers determine whether they can benefit from your services.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Actually, it can be an information tool BUT it's an information <i>getting</i> tool, not an information giving tool. The more information that you can get from the caller, the better you can help them, the more likely they are to buy your product or engage your services.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
As much as we might hate to admit it, people rarely ring us to find out how smart we are, they ring because they have a problem they need solved. It's like when I have a client come in to see me about retirement projections, they don't want to see all my calculations, they want the end figure and what it means for them and their lifestyle.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
I believe there are a lot of missed money making opportunities when it comes to the phone. There are the obvious extreme examples like the one I mentioned, but by far the biggest is from people who use the telephone to impart information not realising that their time would be so much better spent getting information from the caller and then once you feel confident you know exactly what they need, provide them with a specific solution. Then they're much more likely to buy your product or engage your service.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Research that's been updated regularly since World War II shows that only about 15% of the market genuinely shop on price. Yet, when a potential new customer or client calls it's almost always the first question they ask. Why is this? Simply that most people don't know the right questions to ask so they start with the easy one - price.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
I often joke to my clients that no one wakes up in the morning and randomly decides to telephone businesses in their industry to find out their charges. They call because they have a problem they need solved - they need your service or product. However, the only question they know to distinguish one business from another, or simply to get the ball rolling, is your price.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
So here are my tips for improving your telephone technique.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b><span style="color: red;">Terrific Telephone Tips</span></b></div>
<ul style="text-align: justify;">
<li><b><span style="color: red;"> </span></b><span style="color: red;"><span style="color: black;">Physically smile before you answer the phone. This may sound trite but it's amazingly powerful. People can hear the smile in your voice and trust me they can hear when you're not smiling! </span></span></li>
</ul>
<ul style="text-align: justify;">
<li><span style="color: red;"><span style="color: black;">Answer on the 2nd ring. If you answer on the first ring it often hasn't rung on the other end and you can startle the caller, which starts the conversation off on the wrong foot.</span></span> </li>
</ul>
<ul style="text-align: justify;">
<li><span style="color: red;"><span style="color: black;">Treat every caller as a visitor, imagine they are in front of you rather than on the other end of the call.</span></span> </li>
</ul>
<ul style="text-align: justify;">
<li><span style="color: red;"><span style="color: black;">Become "information getters" (but NOT interrogators). Don't fall into the trap of giving out information, step outside your comfort zone and find out exactly what the client or customer is looking for - gives them confidence and also sets the tone for the rest of their experience with you. They WANT a solution otherwise they wouldn't have called.</span></span> </li>
</ul>
<ul style="text-align: justify;">
<li><span style="color: red;"><span style="color: black;">Set service standards that everyone on your team knows and adheres to.</span></span> </li>
</ul>
<ul style="text-align: justify;">
<li><span style="color: red;"><span style="color: black;">Listen - even if you know the answer, let the caller finish talking.</span></span> </li>
</ul>
<ul style="text-align: justify;">
<li><span style="color: red;"><span style="color: black;">Communicate positive feedback to the caller - let them know they are in good hands and set them at ease. This might be as simple as a "yes I understand where you're coming from" or "that makes sense" or "of course you should expect that type of service". Feedback reassures people you're listening and that you understand them in the absence of body language. Of course if you're not sure you completely understand, then say something like "Let me just check I understand you properly so I can give you the right advice".</span></span> </li>
</ul>
<ul style="text-align: justify;">
<li><span style="color: red;"><span style="color: black;">Hang up last so you don't "clunk" in a customer's ear!</span></span><span style="color: red;"><span style="color: black;"> </span></span></li>
</ul>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;">Some very simple tips but extremely powerful if implemented. Even if you implement just one of them where you're not already doing it or not doing it particularly well, then start today. Hopefully it will help you increase profitability of your business.</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;">I run some great phone training sessions if you want to make it really easy - either one on one or with a team, so just let me know if I can help. And if you'd like to hear more of what I have to say on the matter, <a href="http://www.hendrie.com.au/free_stuff/radio_program" target="_blank"><b><span style="color: #6aa84f;">click here</span></b></a><span style="color: #6aa84f;"><span style="color: black;"> for a recording of my most recent "You & Your Business" radio segment on 98.1FM Radio Eastern.</span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: red;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">Talk soon,</span></span></span></span></div>
<span style="color: red;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">Caren</span></span></span></span><br />
<br />
<span style="color: red;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;"><!--[if gte mso 9]><xml>
<w:WordDocument>
<w:View>Normal</w:View>
<w:Zoom>0</w:Zoom>
<w:TrackMoves/>
<w:TrackFormatting/>
<w:PunctuationKerning/>
<w:ValidateAgainstSchemas/>
<w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid>
<w:IgnoreMixedContent>false</w:IgnoreMixedContent>
<w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText>
<w:DoNotPromoteQF/>
<w:LidThemeOther>EN-AU</w:LidThemeOther>
<w:LidThemeAsian>X-NONE</w:LidThemeAsian>
<w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript>
<w:Compatibility>
<w:BreakWrappedTables/>
<w:SnapToGridInCell/>
<w:WrapTextWithPunct/>
<w:UseAsianBreakRules/>
<w:DontGrowAutofit/>
<w:SplitPgBreakAndParaMark/>
<w:EnableOpenTypeKerning/>
<w:DontFlipMirrorIndents/>
<w:OverrideTableStyleHps/>
</w:Compatibility>
<w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel>
<m:mathPr>
<m:mathFont m:val="Cambria Math"/>
<m:brkBin m:val="before"/>
<m:brkBinSub m:val="--"/>
<m:smallFrac m:val="off"/>
<m:dispDef/>
<m:lMargin m:val="0"/>
<m:rMargin m:val="0"/>
<m:defJc m:val="centerGroup"/>
<m:wrapIndent m:val="1440"/>
<m:intLim m:val="subSup"/>
<m:naryLim m:val="undOvr"/>
</m:mathPr></w:WordDocument>
</xml><![endif]--></span></span></span></span><br />
<span style="color: red;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;"><!--[if gte mso 9]><xml>
<w:LatentStyles DefLockedState="false" DefUnhideWhenUsed="true"
DefSemiHidden="true" DefQFormat="false" DefPriority="99"
LatentStyleCount="267">
<w:LsdException Locked="false" Priority="0" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Normal"/>
<w:LsdException Locked="false" Priority="9" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="heading 1"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 2"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 3"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 4"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 5"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 6"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 7"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 8"/>
<w:LsdException Locked="false" Priority="9" QFormat="true" Name="heading 9"/>
<w:LsdException Locked="false" Priority="39" Name="toc 1"/>
<w:LsdException Locked="false" Priority="39" Name="toc 2"/>
<w:LsdException Locked="false" Priority="39" Name="toc 3"/>
<w:LsdException Locked="false" Priority="39" Name="toc 4"/>
<w:LsdException Locked="false" Priority="39" Name="toc 5"/>
<w:LsdException Locked="false" Priority="39" Name="toc 6"/>
<w:LsdException Locked="false" Priority="39" Name="toc 7"/>
<w:LsdException Locked="false" Priority="39" Name="toc 8"/>
<w:LsdException Locked="false" Priority="39" Name="toc 9"/>
<w:LsdException Locked="false" Priority="35" QFormat="true" Name="caption"/>
<w:LsdException Locked="false" Priority="10" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Title"/>
<w:LsdException Locked="false" Priority="1" Name="Default Paragraph Font"/>
<w:LsdException Locked="false" Priority="11" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtitle"/>
<w:LsdException Locked="false" Priority="22" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Strong"/>
<w:LsdException Locked="false" Priority="20" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Emphasis"/>
<w:LsdException Locked="false" Priority="59" SemiHidden="false"
UnhideWhenUsed="false" Name="Table Grid"/>
<w:LsdException Locked="false" UnhideWhenUsed="false" Name="Placeholder Text"/>
<w:LsdException Locked="false" Priority="1" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="No Spacing"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 1"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 1"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 1"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 1"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 1"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 1"/>
<w:LsdException Locked="false" UnhideWhenUsed="false" Name="Revision"/>
<w:LsdException Locked="false" Priority="34" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="List Paragraph"/>
<w:LsdException Locked="false" Priority="29" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Quote"/>
<w:LsdException Locked="false" Priority="30" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Quote"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 1"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 1"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 1"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 1"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 1"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 1"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 1"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 1"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 2"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 2"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 2"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 2"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 2"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 2"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 2"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 2"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 2"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 2"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 2"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 2"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 2"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 2"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 3"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 3"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 3"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 3"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 3"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 3"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 3"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 3"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 3"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 3"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 3"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 3"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 3"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 3"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 4"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 4"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 4"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 4"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 4"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 4"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 4"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 4"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 4"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 4"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 4"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 4"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 4"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 4"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 5"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 5"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 5"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 5"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 5"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 5"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 5"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 5"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 5"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 5"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 5"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 5"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 5"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 5"/>
<w:LsdException Locked="false" Priority="60" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Shading Accent 6"/>
<w:LsdException Locked="false" Priority="61" SemiHidden="false"
UnhideWhenUsed="false" Name="Light List Accent 6"/>
<w:LsdException Locked="false" Priority="62" SemiHidden="false"
UnhideWhenUsed="false" Name="Light Grid Accent 6"/>
<w:LsdException Locked="false" Priority="63" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 1 Accent 6"/>
<w:LsdException Locked="false" Priority="64" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Shading 2 Accent 6"/>
<w:LsdException Locked="false" Priority="65" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 1 Accent 6"/>
<w:LsdException Locked="false" Priority="66" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium List 2 Accent 6"/>
<w:LsdException Locked="false" Priority="67" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 1 Accent 6"/>
<w:LsdException Locked="false" Priority="68" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 2 Accent 6"/>
<w:LsdException Locked="false" Priority="69" SemiHidden="false"
UnhideWhenUsed="false" Name="Medium Grid 3 Accent 6"/>
<w:LsdException Locked="false" Priority="70" SemiHidden="false"
UnhideWhenUsed="false" Name="Dark List Accent 6"/>
<w:LsdException Locked="false" Priority="71" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Shading Accent 6"/>
<w:LsdException Locked="false" Priority="72" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful List Accent 6"/>
<w:LsdException Locked="false" Priority="73" SemiHidden="false"
UnhideWhenUsed="false" Name="Colorful Grid Accent 6"/>
<w:LsdException Locked="false" Priority="19" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtle Emphasis"/>
<w:LsdException Locked="false" Priority="21" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Emphasis"/>
<w:LsdException Locked="false" Priority="31" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Subtle Reference"/>
<w:LsdException Locked="false" Priority="32" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Intense Reference"/>
<w:LsdException Locked="false" Priority="33" SemiHidden="false"
UnhideWhenUsed="false" QFormat="true" Name="Book Title"/>
<w:LsdException Locked="false" Priority="37" Name="Bibliography"/>
<w:LsdException Locked="false" Priority="39" QFormat="true" Name="TOC Heading"/>
</w:LatentStyles>
</xml><![endif]--><!--[if gte mso 10]>
<style>
/* Style Definitions */
table.MsoNormalTable
{mso-style-name:"Table Normal";
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:"";
mso-padding-alt:0cm 5.4pt 0cm 5.4pt;
mso-para-margin:0cm;
mso-para-margin-bottom:.0001pt;
mso-pagination:widow-orphan;
font-size:10.0pt;
font-family:"Times New Roman","serif";}
</style>
<![endif]-->
</span></span></span></span><br />
<div class="MsoNormal">
<span style="color: red;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;"><i>PS. Please don't keep me a secret. If you know someone who’d
enjoy this or find it useful, pass it on!</i></span></span></span></span></div>
<span style="color: red;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">
</span></span> </span></span><div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-35231453241529827072013-12-16T14:06:00.001+11:002013-12-16T14:18:17.930+11:00Christmas budget tips - you know you need them<div style="text-align: justify;">
I have to be honest, I was pretty happy with myself for having most of my Christmas shopping done by the end of October this year. Let's face it, if we're not super organised, Christmas can be pretty stressful instead of the fun and happy time that it should be.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
I'll never forget my brother ringing me in total panic about 10 years ago because he hadn't bought a present for his then girlfriend (now wife) Jenny. The reason he was panicking was that it was 7pm on Christmas Eve and he'd mistakenly thought the shops were open until midnight. D'OH!!!!!!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Funny now, but at the time...</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
If you didn't catch my recent newsletter article then just <a href="http://www.hendrie.com.au/free_stuff/fact_sheets" target="_blank"><b><span style="color: #6aa84f;">click here</span></b></a> for my easy and practical tips for Christmas spending. It may be a little too late this year for some of the tips, so feel free to make use of them in 2014!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Talk soon,</div>
<div style="text-align: justify;">
Caren<br />
<br />
PS. Please don't keep me a secret. If you know someone who'd enjoy this or find it useful, pass it on! </div>
<div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-67719540090257073202013-12-04T13:01:00.000+11:002013-12-11T17:05:48.420+11:00How to improve your business over the Christmas break<div style="text-align: justify;">
It's almost Christmas, which is pretty exciting. I'm unashamedly obsessed with Christmas - I had most of my Christmas shopping done by the end of October and my tree and decorations were up by 9 November!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
I love the feel of this time of year, I love the Carols and I love the Christmas parties. I love the way everyone talks about Christmas. Mick proposed to me on Christmas Eve - 4 years ago mind you!!! - and we go back to the same restaurant every Christmas Eve. So there's a lot about Christmas I love but most of all I love the holiday!!!!!!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The thing about being a business owner though is that even if we're on holiday we don't stop being business owners. Even if we're not actually working - we're often still thinking about the business. If you're in business with your spouse then often you're talking about business on your holiday as well.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>So don't fight it - make it effective.</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The Christmas break can be a great time to review your business and set goals for the next 12 months.<br />
<br />
In our own business we're constantly setting short-term and long-term goals. The reason we do this is because if you don't have goals it's pretty hard to achieve anything concrete. You may have heard the saying <i>most people aim at nothing...and they hit it with amazing accuracy.</i></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
To ensure that our strategy remains appropriate through different economic climates, industry fluctuations, tax and legislative, changing lifestyles and financial needs, you need to review your business and your short and long-term goals on a regular basis.<br />
<br />
Once you've chosen the goals you want to focus on for the next twelve months you need to prepare a plan for each goal and set sub-goals. What are the things that need to be done to make sure you achieve each goal?</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
It's really important that you're able to visualise each goal and its purpose and most importantly each goal needs to be <b>achievable.</b> There's no point setting yourself up for failure - that's never fun.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
So there you go, I've just given you some Christmas homework! If you're like me and your business brain doesn't necessarily shut down for Christmas when the business does, then reviewing and resetting your goals can be an effective use of your holiday time.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
But of course it's only worthwhile if you then go back to work and move your ideas into the real world and start making them happen.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #6aa84f;"><span style="color: black;"><a href="http://www.hendrie.com.au/free_stuff/fact_sheets" target="_blank"><span style="color: #6aa84f;"><b>Click here</b></span></a> for a paper that Mick and I wrote earlier this year about making sure your business and personal goals are in alignment. Not only does it give you a step by step example of how to go about setting your goals but also highlights why you need to also consider your personal goals when setting your business goals.</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #6aa84f;"><span style="color: black;">Talk soon,<br />Caren</span></span><br />
<br />
<span style="color: #6aa84f;"><span style="color: black;"><!--[if gte mso 9]><xml>
<w:WordDocument>
<w:View>Normal</w:View>
<w:Zoom>0</w:Zoom>
<w:TrackMoves/>
<w:TrackFormatting/>
<w:PunctuationKerning/>
<w:ValidateAgainstSchemas/>
<w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid>
<w:IgnoreMixedContent>false</w:IgnoreMixedContent>
<w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText>
<w:DoNotPromoteQF/>
<w:LidThemeOther>EN-AU</w:LidThemeOther>
<w:LidThemeAsian>X-NONE</w:LidThemeAsian>
<w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript>
<w:Compatibility>
<w:BreakWrappedTables/>
<w:SnapToGridInCell/>
<w:WrapTextWithPunct/>
<w:UseAsianBreakRules/>
<w:DontGrowAutofit/>
<w:SplitPgBreakAndParaMark/>
<w:EnableOpenTypeKerning/>
<w:DontFlipMirrorIndents/>
<w:OverrideTableStyleHps/>
</w:Compatibility>
<w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel>
<m:mathPr>
<m:mathFont m:val="Cambria Math"/>
<m:brkBin m:val="before"/>
<m:brkBinSub m:val="--"/>
<m:smallFrac m:val="off"/>
<m:dispDef/>
<m:lMargin m:val="0"/>
<m:rMargin m:val="0"/>
<m:defJc m:val="centerGroup"/>
<m:wrapIndent m:val="1440"/>
<m:intLim m:val="subSup"/>
<m:naryLim m:val="undOvr"/>
</m:mathPr></w:WordDocument>
</xml><![endif]--></span></span><br />
PS. Please don't keep me a secret. If you know someone who’d
enjoy this or find it useful, pass it on!<span style="color: #6aa84f;"><span style="color: black;">
</span></span></div>
<div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-78807510541233970722013-11-20T12:44:00.002+11:002013-11-20T13:00:18.159+11:00Gearing explained in plain English<div style="text-align: justify;">
I have a client who is a really smart guy. He has a list of qualifications as long as your arm (not my arm coz that would be pretty short) and he's one of the best in his field. But when I told him that gearing involved borrowing he was positively stunned. No one had ever told him that before.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
What's the point of telling you this story? Simply that gearing isn't necessarily a straightforward investment concept and if it's a subject you find confusing - well, you're in good company!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
We've prepared a simple fact sheet that explains all the important points about gearing in plain English!<a href="http://www.hendrie.com.au/free_stuff/fact_sheets" target="_blank"><b><span style="color: #6aa84f;"> Click here</span></b></a> to read it, and if it's something you'd like to explore further, just give us a call.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
By the way, my client told me I should tell as many people as possible his story in the spirit of financial eduction.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Talk soon,</div>
<div style="text-align: justify;">
Caren<br />
<br />
PS. Please don't keep me a secret. If you know someone who'd enjoy this or find it useful, pass it on! </div>
<div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-51116533339247411062013-11-13T15:53:00.001+11:002013-11-13T16:26:53.032+11:00How to write "right" in business<div class="MsoNormal">
As business owners, we also need to be reasonably competent
“writers”.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
It’s always been important, but in this new age of the
internet and social media, we’ve kinda been foisted into the world of
publishing whether we like it or not.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
And let’s be honest – most business owners <i>don’t</i> like it!<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
I’m lucky because I have had training in writing, and have a
degree in literature BUT as I’m about to explain, even that doesn’t mean I get
it right all of the time.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><a href="http://www.hendrie.com.au/free_stuff/fact_sheets" target="_blank">Click here</a></b> to
find out how I got it so wrong, and how you can get it so right! (<i>write</i>… love a pun…)<o:p></o:p></div>
<div class="MsoNormal">
<br />
Talk soon,<br />
Caren</div>
<div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-47773244218578857302013-10-16T12:14:00.000+11:002013-10-16T12:14:24.405+11:00We have a new Government, but what does that mean for investment markets?<div style="text-align: justify;">
The simple fact is our elections
don't generally move markets as they do in some other countries. The
reason for this is that our major parties (Liberal/National and Labour)
just don't differ enough in policy to have a huge impact.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
But
of course there have been some unique circumstances in the years
leading up to this particular election, which may have greater impact
than usual in a few key areas:</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
A few points which seem worthy of raising include:</div>
<ul style="text-align: justify;">
<li>The policies of the new Government if implemented are likely to lead
to smaller government, less regulation and over time improved
productivity and economic growth.</li>
<li>Expect a mini-budget around November that may contain more aggressive budget savings.</li>
<li>The historical experience combined with the more business friendly
approach of the Coalition suggests a positive share market response over
time.</li>
<li>The key uncertainty relates to the new Senate.</li>
</ul>
<div style="text-align: justify;">
For more on how we're likely
to be effected, especially with regards to investment markets, I
recommend taking a look at economist Dr Shane Oliver's latest article.
As always, he cuts to the chase and is an interesting read.<span style="color: #6aa84f;"><span style="color: black;"> <b><a href="http://www.hendrie.com.au/free_stuff/fact_sheets" target="_blank"><span style="color: #6aa84f;">Click here</span></a></b> to read Dr Oliver's insights.</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
If you'd like to hear more of what I have to say on the matter, <span style="color: #6aa84f;"><b>click here</b><span style="color: black;"> for a recording of my most recent "You & Your Money" radio segment on 98.1FM Radio Eastern.</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #6aa84f;"><span style="color: black;">Talk soon,<br />Caren </span></span><br />
<br />
<span style="color: #6aa84f;"><span style="color: black;">PS. Please don't keep me a secret. If you'd know someone who'd enjoy this or find it useful, pass it on! </span></span> </div>
<div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-46171660442201854472013-10-07T13:49:00.000+11:002013-10-09T16:58:19.828+11:00Do you remember "New Coke"? A lesson for every business.<div style="text-align: justify;">
Can you guess the most recognised brand in the world? If you guessed Coca-Cola, you'd be right. </div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
But does anyone remember "New Coke"?</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
In 1985 the Coca-Cola Company tested a new formulation. This formulation was largely perceived to be better than Coke and Pepsi in the "blind" taste tests. However, five years and millions of dollars later, the product refused to sell.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
In fact, consumers <b>demanded</b> that the "old" Coke be brought back!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
This was despite the fact that market research showed that the vast majority of people either preferred the taste of New Coke or couldn't tell the difference. So what's all that about?</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Loyalty to the brand name folks.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<b>Believe it or not, the value of Coke's brand name is about 100 times more than its actual product!</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
I often get asked about the importance of branding for smaller businesses compared to big companies. Frankly, your branding is crucial regardless of size.<br />
<br />
<a href="http://www.hendrie.com.au/free_stuff/fact_sheets" target="_blank"><b><span style="color: #6aa84f;">Click here</span></b></a><span style="color: #6aa84f;"><span style="color: black;"> to find out what you should be considering for your brand!</span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #6aa84f;"><span style="color: black;">And if you'd like to hear more of what I have to say on the matter <a href="http://www.hendrie.com.au/free_stuff/radio_program" target="_blank"><b><span style="color: #6aa84f;">click here</span></b></a><span style="color: #6aa84f;"><a href="http://www.blogger.com/"><span style="color: black;"><span id="goog_636030108"></span><span id="goog_636030109"></span></span></a> <span style="color: black;">for a recording of my most recent "You & Your Business" radio segment on 98.1FM Radio Eastern.</span></span></span></span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;">Talk soon,<br />Caren </span></span> </span></span></div>
<div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0tag:blogger.com,1999:blog-230263836586840489.post-29350529406064203602013-09-20T10:09:00.000+10:002013-09-20T11:27:12.931+10:00We know what you really want to hear about - PROPERTY!<div style="text-align: justify;">
<span style="color: #6aa84f;"><span style="color: black;"><span style="color: #6aa84f;"><span style="color: black;"><a href="http://www.hendrie.com.au/free_stuff/information_session_upcoming" target="_blank"><span style="color: #6aa84f;"><b><u>Click here</u><span style="color: black;"> </span></b></span></a></span></span></span><b><span style="color: black;">for your invitation to our FIRST EVER PROPERTY SYMPOSIUM.</span></b></span> <br />
<br />
What a month - a 5 year record high for the Australian sharemarket, the US market keeps going gangbusters, and we have a new Government <i>(more on that next month)!</i></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
So what about our property market?<br />
<br />
It was only twelve months ago that we were worrying about a major fall in house prices, but now everyone's talking about another housing bubble!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The annual capital city average house price growth is running around 5%, and property is still a HOT topic.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
As a Financial Planner I'm often accused of a bias to shares and of not liking property, which is simply untrue - I've owned investment properties in my portfolio since my early 30s.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
However, my experience as both a Financial Planner and a Landlord has taught me that there are risks involved in property investment and you can get it wrong.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
So what do you do? Your homework of course!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
In particular, we always recommend giving particular consideration to:</div>
<ol style="text-align: justify;">
<li>Which property you should buy - type, location, age, growth potential, income potential.</li>
<li>The best way to finance your property - institution, interest rate, type of loan, term, repayments.</li>
<li>Managing and renting the property - self-manage vs an agent, rent, tenants, maintenance.</li>
<li>Tax - avoiding paying more tax than you have to, what's deductible, negative vs positive gearing, capital items vs income items, after-tax cashflow.</li>
</ol>
<div style="text-align: justify;">
Get expert advice in all four areas <i>before</i> you sign the contract. It may seem time consuming BUT it may save you a lot of time in the long-run. Let's face it, spending a bit of time with a few experts is negligible compared to the cost of a poor decision...</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
And if you <i>are</i> thinking about buying a property, we've made it really easy for you by getting the experts in one room and one time at our FIRST EVER <b>Property Symposium - "Buying your next property - the full story."</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
We've sourced four experienced specialists for an enlightening and content-driven evening to help you make informed decisions about your next property purchase. You'll hear educational presentations about buying your property, financing your property, managing and renting your property and the tax tips you need <i>before</i> you sign a contract. This is your chance to hear what the experts have to say and ask all your questions about buying your next property.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The symposium is aimed at people who already have at least one property, but if you're buying your first and would like some extra information you're very welcome.<b> </b><br />
<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgFRUhRreZ2j6fcFyeSz4-q3xFtGc93-2XIoATVe26PNSm8U_x2fma9hyphenhyphen3wrFZ-zPVEdUxj7A1NtRAAEfQUy-OqLm0xZ1A6CB0YguHQA8TMSdNBxKmeV-4r2HjpqLhQ2tpcMTS3cwOSIoQ/s1600/Caren+House.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgFRUhRreZ2j6fcFyeSz4-q3xFtGc93-2XIoATVe26PNSm8U_x2fma9hyphenhyphen3wrFZ-zPVEdUxj7A1NtRAAEfQUy-OqLm0xZ1A6CB0YguHQA8TMSdNBxKmeV-4r2HjpqLhQ2tpcMTS3cwOSIoQ/s200/Caren+House.jpg" width="150" /></a><b>The symposium will be held on Tuesday 15th October at 7pm, and it's just $25 per ticket (and you'll receive a free ticket so that you can bring along a partner, friend, colleague or family member).</b></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<a href="http://www.hendrie.com.au/free_stuff/information_session_upcoming" target="_blank"><u><b><span style="color: #6aa84f;">Click here</span></b></u></a> for full details including how to register.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Talk soon,</div>
<div style="text-align: justify;">
Caren<b> </b> </div>
<div class="blogger-post-footer">Melbourne bloggers, don't forget to tune into my weekly program You & Your Money on Radio Eastern (98.1FM) every Thursday after the 9am news.</div>Caren Hendrie:http://www.blogger.com/profile/05617378663423787741noreply@blogger.com0