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Welcome to the 2008/09 financial year! It’s hard to believe that another year has come and gone and we are again faced with new challenges and excitement for the year ahead. Over the past year, we have seen our GPL Network firms produce amazing results, not just financially but a number have completely changed the way they are doing business and have shifted from the partner doing everything, to seeing and experiencing firsthand the next generation of leaders taking the bull by the horn. We also saw a number of milestones for the GPL team in the 07/08 financial year. Firstly, the 6th Annual Leadership conference at Hamilton Island was attended by more than 120 people with all feedback suggesting it was our best event so far. We also saw record numbers of team members attending the Getting The Right Team on the Bus and Manager Development series of workshops held throughout the year. We had the introduction of the Growth workshops and the new HR, Marketing and Growth CD’s & DVD’s that have enabled accounting firms Australia wide to take advantage of proven systems to improve their GROWTH, PROFIT, and LIQUIDITY. In 2009, our plan is to “Do it better than the Year before”. Stay tuned, as over the next quarter we will introduce you to GPL’s TOP 5 Accounting firms for 2007, upcoming workshops and ongoing tips, systems and resources to help you plan and manage your business for greater success in 2008. Please enjoy our first edition newsletter for 09 financial year as one of our team members (Chanelle Stewart) takes you through the importance of developing your Financial IQ while also familiarising yourself on the latest workshops and products available from GPL! By the way, if you feel you know someone who would be interested in receiving this newsletter, please let us know or simple direct them to the GPL Network website www.gplnetwork.com to register their details. Wishing you all the success for the 2009 FY and enjoy the read!
Andrew Oldham Rich Dad Poor Dad by Robert Kiyosaki In today’s contemporary society the main obstacle for well educated professionals to overcome is the realisation that they might not be financially literate. We as business people know how to count money and work for money but we have not mastered the art of making money work for us! This is the fundamental principle that Kiyosaki preaches “You must develop your financial IQ in order to be RICH”. Why develop your Financial IQ? It is simple… The quicker you can train yourself and those you love to be masters of money, the better! Money is a powerful force and unfortunately people use the power of money against them instead of for them. If your financial intelligence is low, money will run all over you, it will be smarter than you. If money is smarter than you, you will work for it all your life. In order to be the master of money, you need to be smarter than it. Then money will do as it is told. It will obey you. Therefore instead of being a slave TO IT, you will be the MASTER OF IT, this is what is known as Financial Intelligence or Financial Literacy – a powerful and essential tool for anyone to learn and yet a tool that is presently not taught in schools worldwide (as schools focus on scholastic skills not financial skills). Another advantage of financial intelligence is that it can help overcome change and risk barriers. As quoted by Kiyosaki, “I find so many people struggling often working harder, simply because they cling to old ideas. They want things to be the way they were; they resist change. I know people who are damaging their companies or losing their jobs or houses, and they blame technology or the economy or their boss. Sadly they fail to realise that they might be the problem. Old ideas are their biggest liability. It is a liability simply because they fail to realise that while that idea or way of doing something was an asset yesterday, yesterday is gone”. So why develop your Financial IQ? Because if you do, you will prosper greatly and if you don’t this period of time will be a frustrating one. It will be a time of watching people moving boldly forward while others cling to decaying life rings. Therefore wouldn’t you rather welcome change than dread change!
1. The poor and the middle class work for money. The rich have money work for them. 2. Financial intelligence is learning about money, and how money works. Financial literacy or financial intelligence is the key to success. Money without financial intelligence is money soon gone. There is one skill that keeps people away from great wealth; its financial intelligence. 3. Keep your day-time job and mind your own business in order to become financially secure. Minding your own business means, building and keeping your asset column strong, and keeping your expense column as low as possible. One important distinction between the rich and the poor is that the rich buy luxuries last, while the poor and the middle class buy luxuries first. 4. The history of taxes and the power of corporations. With money comes great power that requires right knowledge to keep it and multiply it. Thus, you need to develop financial IQ i.e., accounting, investing, understanding markets, and the law. It is advisable that you find out more about the benefits and protection offered by a corporation (by law) as soon as possible. 5. The rich invent money and have more options. 6. The rich work to learn and not for money. The ability to sell and market is very important to get rich. Every person wants to become rich. But the reason why they don’t win financially is because the pain of losing money is far greater than the joy of being rich. As stated by Kiyosaki, “Everyone wants to go to heaven, but no one wants to die”. Failure inspires winners, and defeats losers. One has to come out of that fear. One needs to take a few risks in order to get rich. Of course these risks can be minimized by increasing your financial literacy. Thus it is not gambling if you know what you are doing. It is gambling if you just throwing money into a deal and pray. The idea in anything is to use your technical knowledge, wisdom and love for the game to cut the odds down, to lower the risk. It is financial intelligence that improves the odds and this is the primary reason Kiyosaki constantly encourages people to invest more in their financial education than in the stock, real estate, or other markets. The smarter you are the better chance you have of beating the odds. Kiyosaki’s Rich Dad Poor Dad
teaches those things that are not taught at school by our teachers',
and not even by most of our parents; because they themselves are not
aware of it. The knowledge of how money works in this world, where
spending is emphasized over savings. It provides valuable insights
into the way true investors analyse their investment decisions.
Basically it is a MUST READ for anyone wanting to get out of the rat
race and into a different playing field! It is a must read for those
who want to attain financial independence! Quotations “Physical exercise improves health, mental exercise improves wealth, laziness destroys both.” “A true luxury is a reward for investing in and developing a real asset.” “The only way to get out of the "Rat Race" is to prove your proficiency at both accounting and investing, arguably two of the most difficult subjects to master.” “I have mentioned before that financial intelligence is a synergy of accounting, investing, marketing and law. Combine those four technical skills and making money with money is easier.” “Most people are poor because when it comes to investing, the world is filled with Chicken Little’s running around yelling, ‘The sky is falling. The sky is falling.” “The poor and middle class work for money. The rich have money work for them.” Leadership09 Advanced Practice Managementis heading to Fiji from the 6th – 8th April 2009. Leadership09 is Australasia’s only 3 day workshop solely focused on how your accounting firm can increase Growth, Profit and Cash Flow through Advanced Practice Management Techniques. It is the only Leadership workshop in the country where you will get to learn leadership soft skills, listen firsthand to how firms have revolutionised their businesses, network with successful firms and their team members and enjoy the paradise of Fiji while mapping out the new financial year. Manager Development workshops are back by popular demand in November 2008! There is no doubt the role of the Manager in an accounting firm is changing. The role is more about managing than ever before. Today a Manager needs to be a leader, a mentor and a trainer of his/her team, highly skilled in both technical and non-technical abilities to achieve financial objectives. Learn more at our workshop what you need to do the business and your people for greater success… For further information please visit our website www.gplnetwork.com
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