Tonight I am delighted to be shining the spotlight on a very important subject for all small business owners, and particularly for female small business owners – financial independence. Taking responsibility for your business and personal finances is something that is so important – yet is something I see so many women feel uncomfortable taking ownership of. As the saying goes, knowledge is power and seeking help from professionals can be one of the best and most freeing decisions you can make. I think this is also particularly important as so many women take time out from work – whether that is from the workplace or their own businesses – to raise children, and this unfortunately can have a pretty significant effect on our superannuation. The time is now ladies – don’t be scared and seek advice from people like Amanda that can truly help you take control and feel confident about your financial future. Read more about Amanda’s journey below x
Owning a business was never something I dreamed about as a girl.
Like many baby boomers, my parents are fairly conservative. They were more about doing well in school to get a good job and don’t take on too much risk. I wasn’t even sure what I wanted to do when I left school, as my friends went off to University to become journalists and lawyers.
One of my father’s friends offered me a job as his secretary after high school and I was happy to accept. I wasn’t sure what else to do then, but earning some money was a good start. He was a life insurance agent and sold superannuation as well – subjects I really didn’t know a lot about! At 18, I probably thought they were for old people!
But 25 years later, I own the business outright, undertook a massive rebrand and have built it up to four times the size is was when I started. Since then, what was a sales based industry has travelled a long way and is on the cusp of being recognized as the financial planning profession.
Over time, I became a Personal Assistant and after returning from my second and last maternity leave, I started studying to be a financial adviser myself. I finally recognized that after years of helping clients and managing the office, it really wasn’t too great a step to be offering advice as well. My ongoing education has always been a priority and I completed my Masters in Financial Planning in 2009.
We’ve always specialised in taking care of those in small business. Many are busy racing around with the kids, making sure debt and school fees are covered and ensuring their business is thriving, but aren’t great at taking care of the financial side of the business. Most people are time poor and not overly financial literate. Financial advisers can be called in as business partners where you can outsource that side of life to a professional or request that you be coached along the way to raise your levels of financial education.
I love that I can be called in to take the complexity out of people’s financial lives and provide strategies so that can ensure they’re protected in the event of the unexpected and make sure that they consider and start investing in their financial futures as well.
Understanding your financials is a great grounding and seeking help is vital. The very best investment you’ll ever make is in good advice. Joining a networking group like Business Chicks has also been rewarding as the connections with others in business and sharing stories of both wins and losses is fantastic.
Aside from Wealth Planning Partners, I’ve also launched a new business called Trusted Aged Care Services. We help the elderly stay at home longer with assistance or transition into a residential aged care facility. It is a highly complex area that again requires a bit of strategy and planning to get right. Most families have their own lives and trying to help mum or dad move and understand the jargon and strategy that goes with aged care is bewildering. Again, we want to make that as easy as possible for our clients.
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