This is my third post on Moving Forward and Accepting Change.
If you missed the first two that set the scene for this one you can find them at
When I wrote the first post I had no thought of writing a series but it sort of evolved.
The more I wrote the more I realized the changes and lessons in my life around my business that I thought others could benefit by me sharing. So here is my next adventure.
Moving Forward : Accepting Change – part 3
In my last “chapter” we had just walked away from our farm machinery dealership and I went back to working in an accounting practice with Ivan (my hubby) becoming a financial planner.
He was working and studying and we were getting back on our feet.
Our two year old daughter had half the week in daycare and half with my mother.
My mother wanted to take care of her full time but I would not hear of it as it seemed too much to ask. My Mum actually loved these years and says they were the happiest of her life. I guess she gave her back to us at the end of the day 🙂
Also my Dad was a tradesman and had a big workshop at the back of their house. Shannon, our daughter spent a lot of time out there with Dad too.
Becoming Business Owners Again – Moving Forward and Accepting Change
Over the next couple of years Ivan and I managed to buy our way into the Financial Planning business he was running. We bought out one partner and had half of the business with the remaining partner.
I made the switch from accounting to becoming a financial planner. More moving forward and accepting change.
My timing was not the best as it was early in 1988 and right on the back of the Stock Market crash of 1987. Many people thought I was mad giving up a “respectable” profession like Accounting to be a Financial Planner (sales person really).
For a while there I thought they were right. It was not an easy transition for me.
I had new skills to learn and some to unlearn. Accountants get paid to “tell” (called giving advice). Try that in a sales world when you are being remunerated the same as the people you employ – on commission.
This was a far cry for me from being an accountant and charging for every question I was asked.
Learning New Skills
So I learned the art of fact finding, asking questions and proposing solutions. In all honesty this was not difficult for me as I do love people .
I also learned to do joint ventures and build centers of influence.
I learned to present at seminars, write ads and do a radio spot.
I learned many many things during this time.
Building and Expanding
Over an eight year period we had ups and downs.
We had some great times , built an amazing team of people and had a lot of fun as well as hard work.
It was early in this business we first worked with Robert Kiyosaki. Most of our team also did his courses that were available then. These were good times and the culture we built in this business still makes my heart sing.
We also did team building activities like abseiling, rock climbing and caving. All way out of my comfort zone given I used to be terrified of heights. Conquering your fears is a big part of moving forward and accepting change.
We were building a residual income with trail commissions and our products were diversified . We felt we were on track again.
We also had many people around the state we lived in that were licensed to us and so our little company was growing.
Finding a Point of Difference
The early 90’s were tough economically and we were looking for a point of difference as a business. We found this sort of by default .
As myself and our other business partner were both accountants we had lot of joint ventures with accountants.
In Australia at that time there were several investment types around where people received tax reductions for investing in them. Some of the accountants we worked with were keen for us to pursue these.
We did this and it gave us our point of difference.
Over the next 5 years we moved more and more into this area. The commission were very good but there were no ongoing or residual income.
We were seduced by instant gratification. Forgetting our Farm Machinery story and our vow to be doing a business with a recurring income.
And the success continues
By the mid nineties we literally earned more than 80% of our annual income in the last month of the financial year, which is June in Australia. It did not mean our income for the rest of the year was too shabby it just meant it was amazing for one month. The lead up to June was also very busy and we worked 80 hour weeks.
The highs were addictive and we lived on adrenalin.
But we always celebrated at the end of June.
Towards the end of 1995 we were asked to partner with another company and take these products Australia wide. This meant Ivan and I with our daughter would move to Sydney. By this stage my step daughter was working for us as was the girlfriend of my step son. They were to remain in our Perth office.
We were about to have the greatest highs and lows of our life which I will share in my next post.
Lessons from Moving Forward and Accepting Change – part 3
- You can learn new skills and move on to another profession
- Building a business that is a leader means looking for a point of difference – stand out from the crowd
- Doing personal development with your team builds great cultures
- Joint ventures work
- You can conquer your fears
The dumb things we did
- Forgetting our basic rule to build a recurring income
- Putting all our eggs in one basket yet again – in this case it was not just one investment but one investment type
- Believing tax laws stay the same (more about that next time)
- Working too much without enough balance in our lives
The next post on moving forward and accepting change will be my last in this series. It was by far the most painful for me.
I hope you have enjoyed knowing more about my journey. Please leave me your comments below.
Make it a great day.
FREE! The “Secret Formula” That Took Adam From Being Over $40,000 in Debt, to Traveling Around The World and Making
a 6-Figure Income From his Computer. You can get it at prosperity formula.