10 Quotes All Entrepreneurs Should Memorize

Joel Peterson

Chairman, JetBlue Airways. Stanford Business School

Life can be tough. As my mother used to wryly remind me, “No one gets out alive.” We all have plenty of less-than-perfect moments. Not even the most gifted, telegenic and charming people live every day in the sunshine.

The same is true for entrepreneurs. Just as “bad things happen to good people,” every great entrepreneur regularly stares down the barrel of failure.

Graham Weaver, the founder of Alpine Investors and a frequent visitor to my business classes, reminds would-be entrepreneurs that the only failures they should fear are the ones of character and effort. It’s an uncertain world, and there are only so many things you can control. Even when you’re giving 100% and doing your best to be an honorable and ethical leader, things go wrong.

What you can control is how you deal with those setbacks. However stressful failure can be, if you pick yourself up and get back on the horse, you’ve passed the real test.

And when you do, you’ll start to see more silver linings than you expected. In pushing through failure, you’ll learn who your real friends are – the ones who know what you’re made of and believe in what you’ll do next. You’ll discover reserves of energy, persistence and confidence that you didn’t know you had. And you’ll feel a new sense of creativity, the ingenuity to solve hard problems, that might have remained fallow without the challenges.

One way I’ve prepared for my own unanticipated, but nonetheless certain, failures is by memorizing these 10 quotes:

1. "What does not destroy me, makes me stronger." – Friedrich Nietzsche, 1844-1900 (wat ne dood maak, maak vet!)
2. "Great works are performed not by strength but by perseverance." Samuel Johnson 1709-84.
3. "Sweet are the uses of adversity." – William Shakespeare, 1564-1616
4. "When it’s darkest, men see the stars." – Ralph Waldo Emerson, 1803-1882
5. "Success is how high you bounce when you hit bottom." – General George S. Patton, 1885-1945
6. "When the well’s dry, we know the worth of water." – Benjamin Franklin, 1706-1790
7. "A certain amount of opposition is a great help to a man. Kites rise against, not with the wind." – John Neal, 1793-1876
8. "Success is going from failure to failure without a loss of enthusiasm." – Anon
9. "He knows not his own strength that hath not met adversity." – Ben Jonson, c. 1573-1637
10. "Life is not always a matter of holding good cards, but sometimes playing a poor hand well." – Jack London, undated

One last quote I always keep nearby is this one from Theodore Roosevelt -- about the value of “daring greatly”. It's an excerpt of a speech he gave at Paris’s Sorbonne in April, 1910:

It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.

It’s nice to remind yourself that anyone who fails at trying to do something great is in pretty good company. This group knew that the best dreams can often temporarily disguise themselves as nightmares – better to press forward and leave the fear behind.

What to consider when buying a property? - Ark Sydney Seminar - 15 Spots available!

The Ark Team have analysed the key areas to consider when purchasing an investment property and how to stress less at auctions. To compliment this, they will be a hosting a special seminar on 'How to Purchase Property?' which will cover the important research you need to undertake, how to get the best loan and understanding what it will cost you.

With interest rates at a 20 years low, activity in the property market has increased significantly over the past few months. Last weekend we witnessed record clearance rates in Sydney, with over 80% of the listed auctions selling. In Brisbane, the rate was 65%, which is nearly double the clearance rate this time last year. It is important in times like these to go back to the fundamentals and basics of property and not get caught up in the emotion and media.  We are running a seminar on 'What to consider when buying a property?' and it will cover off the following; - What is the critical research you need to undertake? and how do you do it? - How do you find the right property for you?  - Should you buy a home or investment and what is the difference? - What will a property cost you? - How to stress less at an Auction? - The different tax consequences - including buying in super As an example of some of the content we will cover at the seminar, here are 5 tips on what you need to consider when buying a property; Is it a home or investment? This is the first decision you need to make. Although the purchase might initially be a home and then an investment later it is very rare you find the perfect investment and home in one. You need to understand what your preference is - are you making a lifestyle decision or a financial one? This will help you when you are analysing the property. What can you afford as opposed to what the banks will give you? Yes it is very important to get an approval from the bank about how much you can borrow but it is more important to understand what you can afford. Just because the bank will give you $1million, doesn't mean you can afford that. You need to analyse your cash flow and understand what the cost of the property will be. When calculating the cost of a home, you need to take into account the rent you might be paying. Have you done your research? When we say research, it doesn't just mean the location, amenities and property specifics. You need to make sure you complete your building and strata research to understand if there are any inherent problems in the building such as water leaks, poor strata management etc. You also need to get your solicitor to review the contracts to understand the property in real detail. What structure do you purchase it in? There are several options when purchasing a property - joint names, family trust, super and individually. Each option has pros and cons, and it is dependent on your situation. In some cases, it might be a combination of the above to get the right outcome. The issues you need to consider are tax, estate planning, asset protection and flexibility.  Are you attending Auctions? This can be a very nerve wrecking and stressful time for any purchaser. The key with auctions is to be realistic and be prepared. When you buy at an auction, you need to exchange and pay the deposit on the day of the auction if you are the successful bidder. This means you waive your cooling off period - so there is no going back. This means you need to be prepared well before the auction day. This includes having your solicitor review the contracts, have your building/strata reports completed and have you deposit ready to go. The second part is to be realistic - have your price that you are willing to go up to and if you don't get it then there will be another one. It is disappointing, but unfortunately that is the way auctions operate. Your buying strategy doesn't really matter if someone else is prepared to pay more than what you are.  We hope you can join us for the seminar on Wednesday the 14th of August from 6pm. Click here to regsiter.    Regards, The Ark Team

Ark Informer January 13

Welcome to the first Ark Informer of 2013. The Ark Team are holding a really useful 30 minute webinar on the "top 5 Wealth Tips for 2013" on Wed 23rd Jan @ 6pm and Thurs 24th Jan @ 12:30pm. See below for more details. (Click on dates to register). Join Me on LinkedIn  http://au.linkedin.com/in/ivankayebsi ( I have over 3,500 contacts that I would gladly connect you with!)

January 2013 - A Webinar to kickstart 2013 Welcome to the first of our education webinars for 2013. In this webinar we unveil 5 effective strategies to help you manage and build your wealth in 2013.  In 30 minutes, we will cover the following; 1. Simple tips to help reduce your individual tax 2. A review of Home Loan Structures and a look at what interest rate you should be paying 3. An analysis of where you should invest your super and a look at some of the best funds from 2012 4. Where to put your excess savings? Looking at alternatives to cash.  5. How to organise and manage your finances easily These top 5 tips sound very generic and simple... and they are. They are not designed to be high risk or complex but to help you along your wealth journey.  At the end of the webinar, all participants will receive a copy of our new e-book 'Wealth Planning for Young Accumulators'.  If you can't make the allocated times, just 'click for an advisor' on the right and we can send you the relevant information. Regards, The ARK Total Wealth Team  www.arktotalwealth.com.au | info@arktotalwealth.com.au Webinars Top 5 Wealth tips for 2013 Wed 23rd Jan @ 6pm Thurs 24th Jan @ 12:30pm Duration: 30mins

What is this 10X Growthpac people are talking about?

What is this 10X Growthpac that people are talking about????

WATCH THIS SPACE?

10 Lessons From Black Monday

Tom Stevenson is an investment director at Fidelity Worldwide Investment. article from morningstar 

1. Keep calm and carry on. The FTSE 100 ended 1987 higher than it started and within two years the index had surpassed its pre-crash peak. By the time you have recovered your equilibrium, the moment to sell has very likely passed and by panicking at this stage you will simply miss out on the subsequent recovery.

2. Look through the market gyrations to what is happening in the real world. The 1987 crash was triggered by over-exuberance (the market had risen by nearly 40 per cent in the first nine months of 1987) and was then compounded by automated computer trading. The underlying economy was sound at the time - hence the quick recovery.

3. Take a long-term view. The 1987 crash looks insignificant on a long-term chart today even though, at the time, it felt like the end of the world.

4. Be prepared for the worst and don't put all your eggs in one basket. I was in Hong Kong at the time of the 1987 crash - the market there shut for a week, emphasising the point that emerging markets can sometimes be markets from which it is difficult to emerge in an emergency.

5. Don't try and time the market. When your emotions are running high you will make the wrong investment decisions because our brains are hard-wired to run from danger. The best investors do the reverse - they walk towards danger, albeit with their eyes wide open.

    

6. Invest regularly, a little at a time. This way, you will take advantage of market falls like the 1987 crash, picking up a few shares or units in a fund when they are cheap and even though your mind is telling you to put your money under the mattress.

7. Reinvest your dividends. The chart below shows the performance of the UK stockmarket since the 1987 crash - the lower line reflects just the capital growth while the second includes the compounded benefit of putting dividend income back to work in the market.

8. Keep some of your powder dry. Crashes happen, and when they do you want to have some ammunition ready to take advantage of them. It may be frustrating to have even a small proportion of your savings earning next to nothing in cash when shares are rising, but so too is being unable to capitalise on bargain basement prices when periodically they appear.

9. Beware of buying high and selling low. Remember that the stockmarket is the only market in the world in which we prefer to buy when prices are high and are put off by low prices. Think about how you would buy fruit and veg at a street market. You would behave in exactly the opposite way.

                                    

10. Watch costs but worry more about value. The difference between the charges on an actively managed fund and a tracker might be 1 per cent a year. If you back the right manager, however, that might be the best 1 per cent you ever invested.

Property Investing through your Superannuation

November 2012 Purchasing an investment property through your superannuation is one of the most innovative and complex strategies currently available. Ark Total Wealth has been recommending this strategy to its clients since legislation was amended in 2007. At this educational seminar, Ark Total Wealth will share the following with you; - What is a Self Managed Superannuation Fund and the benefits and risks - How to put together the structure to purchase an investment property in your super - How to analyse an investment property - The different loan structures available within super - Costs and Risks of implementing this strategy - How this may fit into your overall wealth creation strategy There is no cost to the seminar and you will have access to qualified advisors throughout the night to answer any questions you might have. If you can't make either seminar, please feel free to 'click for an advisor' to request more information. Regards, The ARK Total Wealth Team Seminar To register just click the link below; Thursday 8th Nov @ 12:15pm for a 12:30pm start  Wednesday 14th Nov @ 5:45pm for a 6:00pm start Duration: 1 hour Location: Suite 702, Level 7, 14 Martin Place (entrance through Pitt Street) Tea, Coffee and Nibbles will be supplied http://arktotalwealth.com.au/email_enquiry.html https://www.facebook.com/arktotalwealth https://www.facebook.com/arktotalwealth

www.arktotalwealth.com.au  | info@arktotalwealth.com.au

October - Educational Webinar Series

Ark Total Wealth are proud to present their SMSF Strategy Series to our subscriber list. I encourage anybody who is interested in wealth creation in Australia to attend this series. 

Self managed super funds (SMSF's) are now one of the largest and fastest growing segments of the super industry having an annualised growth rate of 20%. Education amongst members as to what they can do with their SMSF's and how they can most effectively use them is patchy however, and many are simply not unlocking their SMSF's full potential. The Ark SMSF Strategy series has been created to educate and empower SMSF directors/trustees to get the most out of their retirement funds, increase their wealth and manage their tax. Webinars will be held on the following topics: Personal Insurance inside your SMSF Direct Equities & Managed Funds within an SMSF Transition to Retirement Strategies within an SMSF How to buy property within a SMSF If you can't attend a webinar, or you are not sure how to log on, please 'click for an advisor' on the right and we can provide you with the steps on how to register or a brief run down of the webinar content. At the webinars we will cover off the following; Personal Insurance - The different insurances that can be held within an SMSF and the tax consequences. Direct Equities and Managed Funds - What your investment options are within your fund and how to get access to these investments. Transition to Retirement Strategies - A detailed look at the options when approaching retirement and the benefits of utilising this strategy Property in Super - How to purchase an investment property within your super with borrowing At the conclusion of the webinar, we are happy to provide fact sheets and a short video on each topic, however we will not be sending out the specific  slides. Regards, The ARK Total Wealth Team Please click the links below to register for the webinars: SMSF and Personal Insurance Tues 16th Oct @ 5:30pm Investing within an SMSF Wed 17th Oct @ 5:30pm Retirement Strategies Tues 23rd Oct @ 5:30pm Buying Property in an SMSF Wed 24th Oct @ 5:30pm Each webinar will be 30mins in duration

www.arktotalwealth.com.au | info@arktotalwealth.com.au

Trust

From JM Blog
Steve Jobs - You can't connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something - your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life. Steve Jobs

 Deborah Carey TRUST is expensive. Protect your investment at all times. TRUST is being secure in your own value and having enough "cushion" that protects you when it comes down to the account of trusting someone else. Be honorable. Be valuable. Be TRUST today.

 Nuel C Ikeakanam · Trust is the concrete that holds relationships at all levels. The more people trust you, the more they allow you into their world. The more a leader is trusted the easier it is to lead his team. Once broken, almost impossible to rebuild.

 Nancy Delfin Amores · TRUST speeds up everything! (by JCM) TRUST is a gentleman's agreement, it is without paper and pen.It is your word and my word, It is your promise and mine.it is your commitment and mine.So, TRUST is believing someone, that what you have agreed upon, YOU WILL CARRY THROUGH BECAUSE YOU BOTH has put in your integrity, your name without the need to go in contract. In any relationships, parents and children, husband and wife, friend to a friend, or between two lovers, TRUST is the most important factor...basically if you do not trust a person, you can not give or show love at all, if you can not trust your child that he can now cross a busy street, you can not leave him and will continue to help him cross..so it limits you or hastens you to do other things..meaning you are slowed down because you do not trust.For friends, you will forever keep or with hold who you are if you do not trust. So for me, TRUST is KNOWING A PERSON WELL FIRST AND FOREMOST, learn of his ways, his character, his capacity, his intention, and maybe his plans...by that you can SLOWLY and CAREFULLY establish your TRUST.i SAID "CAREFULLY, because trust can only be given if you are already seeing that HE IS WORTHY OF YOUR TRUST...and when trust has been established...Faith follows..

Dr Richard Norris Trust is talked about but has generally gone on walk about! As leaders, be that at work, rest and play, trust starts with you. If you cannot trust others then do not be surprised that those who follow do so slowly, poorly or not at all. Note though that you must trust yourself. The level to which you can trust yourself will impact how much you trust others. A healthy trust of self will ensure you trust others healthily. My wife, Nancy, has always said that I tend to trust people too much. I have paid the price for that on several occasions (it has cost me time, energy, money and relationships). As such a caveat on trust surely must be to give trust initially in proportionately to what is being asked of those you are leading. In due time as you increase your trust in others they will increase their trust in you and your leadership will flourish. Trust is a test. My first day as an officer in the army, the experienced soliders tested me. The first game a new quarterback comes off the bench his team will be establishing their level of trust in him. Trust is learned and earned.

 Nilvia Felipe ·Without trust it is nearly impossible to accomplish anything greater than ourselves. We need a team of people that believe in us enough to follow us and trust us enough to help us manifest our vision. Without trust all else fails... love, hope, loyalty, character, etc... Trust is a building block from which all else can then grow from. Gambrill Communications "A man who trusts nobody is apt to be the kind of man nobody trusts." -

Harold MacMillan. Oftentimes in order to establish trust, the leader must go first and set the example. When you begin to trust the people you lead, they will begin to trust you.

How to save between $30,000 and $300,000 without major changes to your lifestyle!

I have been playing around with Liquidity’s mortgage and financial calculators (free online – see 

As I have said before, as people earn more, they spend more.

This is corroborated by an Australian Securities and Investments Commission (ASIC) study that indicates that one in seven Australian families spend more than they earn and  only 54 per cent of Australian householders know exactly what their money is spent on.

ASIC estimates that Australians spend $69,000 per household annually - $1290 a week - on living costs. (based on an article by Mark Bouris in the SMH today)

Paying extra amounts towards our mortgage can save hundreds of thousands of dollars!!

An extra monthly repayment of just $50 a month on  a $400,000, 30-year mortgage paying the average variable rate of 6 per cent could take 1 year and 7 months and $30,000 off your mortgage!

Where can I find savings?

Costs during the working Week

• ·         I generally spend $12 a day on a takeaway lunch and drink. By bringing  a packed lunch from home twice a week (from the previous nights dinner) , I save $24, or $96 a month -
• ·         Cutting just one cup of takeaway coffee at $3.20 a day equates to $69 in savings a month.

Saving = $165 per month

• ·         Taking the train ($130 per month) vs taking my car (garage $500, tolls $80, petrol and maintenance $200)

Saving  =  $650 per month (I would save more if I sold my car – but let’s not get carried away!!)

An extra $650 per month towards your mortgage will save you $210,950.73 abd 12 years and 1 month off your mortgage

Home Cost Savings

• ·         phone costs and internet plan -  We have just signed up to the Telstra Bundle – Saving $150 per month
• ·         Foxtel – we have 2 foxtel lines in 2 rooms, we only really need 1 – Saving $50 per month
• ·         reduce the number of times we eat out from, say, twice to once a week and we could save $300 a month;
• ·         time our petrol refills to the cheapest days,
• ·         shop for groceries at lower-cost supermarket and look for specials

Saving – say  $500 per month

•  Reviewing our insurance costs and funding our life insurance from our Superannuation saved $1,000 per month from our operating cash flow

Saving $1,000 per month

If I achieve this each month, we will go for an amazing meal for 2 at a cost of $165!

Cumulative Monthly Savings – say  $2130 per month.

Investing this in a $400,000  mortgage  will save  $334,210.66 in interest payments and 20 years off our mortgage!

A key to wealth creation is understanding what you are spending and preparing a budget and a financial plan. 

Its about cutting small costs that will probably not make a difference to our lifestyle  so we can save thousands of dollars off our mortgage.

Have a look at liquidity’s mortgage and financial calculators to show you how much you can save by paying extra off your mortgage!!

If you are interested in getting a quote on your mortgage - click here

Money and the Value of Coaching

Inspiration from Hanna Clements-Hart, JD, CPCC

Many  people say that they cannot afford coaching?

The question of what one can afford is highly subjective … look at how you spend your money compared to others   – and you will find a wide variety of choices and priorities based on implicit or explicit values. 

My experience is that as ones income goes up… so does their expenses !!

Some people spend 50% more on organic products, but can’t afford a $100/month gym membership. Some people buy fancy coffees ($3.50 per cup)  and $10 a day for lunch, while others travel at every opportunity. Some buy expensive gifts for others but never treat themselves. Many of us place such a high value on home-ownership, invest in property because we see them as an investment in the future, and we actually borrow most of the money required to pay for them.

Most of us  pay 9% of our salary into superannuation, and many of us  spend copious amounts of money on their children’s education.  

When someone tells me they “can’t afford” coaching, it is because they cannot see the value of what coaching will bring to them.

Can you “afford” coaching? Before you answer, consider what purpose the coaching serves, and what personal or family values it supports.

Is the coaching directed at career or leadership skills, personal development, sustainability, balance, happiness, family harmony, financial security? Are these areas worth investing in?

·         Can you measure the benefit you will get from an improvement in the above -  what is your return on investment (ROI). 

• ·         What if investing in leadership coaching meant that you got a job that paid $5000-20,000 more than you would otherwise have gotten? or helped you get a job (and a paycheck) a month or more sooner than you would have on your own?  Leadership coaching offers a clear potential return on investment, and it is tied to your financial security.
• ·         What if investing in a business coach for your SME could add 20% more sales and a 10% improvement on your gross profit? Could this ROI be measured?
• ·         It is harder to quantify the ROI on personal development coaching, but it is there — reduced stress, happier children, better relationships, healthier habits, better sustainability, more joy. Do you regard these as luxury items or necessities? What are they worth to you?
• ·         A fitness coach – you would live longer, feel better, look better and have more energy. Would this generate an ROI? What is this worth to you?

·         What is the cost of not making a change   — financially?  Personally?   Or in terms of your health or relationships?  Do you have life balance?  You will not find a successful athlete, sportsman, actor, investor or businessman without a coach.

Coaching is an investment in yourself, and in order to make that investment, you have to believe that you are worth it. 

I refuse to believe it is a function of affordability! 

What is the 10X GrowthPac?