How to Be Successful In Business – Leading Financial Planning Company Reveals ‘Building Wealth’ Secrets

VICTORIA, Australia November 2014 – The small business sector is the fastest growing division in the Australian economy. But it also has the highest failure rate with an average of 44 small businesses closing their doors every day.*

According to leading Melbourne financial services company, The Hendrie Group, one of the most common mistakes small business owners keep making is to focus on the day to day operations within the business, instead of working on the business’s future success. Even though owners are generally the trained expert in their company’s field, they’re usually not given formal training on managing finances or building wealth and as a result, can struggle to achieve their goals. www.hendrie.com.au

A multitude of run-off problems can occur when businesses do not focus on the fundamentals - such as finance, system and marketing - including weakening strengths in the business, and family stress and tension. Often people go into business for themselves to create more quality family time, but financial business stresses commonly lead to more time away from the family. These stresses can also nurture anxiety and disparity between expected and achieved financial reward.

The Hendrie Group specialises in business advice, tax and financial planning, and formally trains people on how to be successful in business to secure their financial future. They help with financial, operational and personal aspects to identify opportunities and ensure business and personal goals are achieved. www.hendrie.com.au

Company director Caren Hendrie, believes that no person is born an entrepreneur and building wealth and success is a learned skill, in the same way people are formally trained to become industry experts. “When a person works on building their business and its success, instead of just working in the day to day operations, they sharpen their entrepreneurial skills and ultimately improve the profit of the business,” Caren says. “A great way to start is to create a list of business goals and a professional value system to guide the decision making process.” www.hendrie.com.au

The Hendrie Group specialises in supporting family run businesses, particularly in the building and construction industry. They are committed to building wealth for their clients, by helping to tap in to business opportunities, and show clients simple rules around personal financial planning and how to save tax in Australia.

Discover more about how to be successful in business through building wealth and value-based business decisions at www.hendrie.com.au.

Source:

*Australian Bureau of Statistics

Material contained in this article is a summary only and is based on information believed to be reliable at the date of publication. Suggestions made in this article are not recommendations or offers to act as they are of a general nature only and may not be appropriate to your specific circumstances. They should not be acted upon without first consulting Hendrie Financial Strategies Pty Ltd, as representatives of Madison Financial Group Pty Ltd AFSL No 246679.

Contact Information

Caren Hendrie

Financial & Small Business Adviser (BA Hons; CFP)

The Hendrie Group

(61) (03) 9725 2533

support@hendrie.com.au