Phil McGilvray | Finance

Phil McGilvray

Phone: +61 401 675 127

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• Businesses
• Education
• Financial service
• Personal coach
• Finance
• Financial consultant

11.01.2022 It Would Be An Understatement To Say I Was Angry... But in every horrible situation there are lessons to be learnt, I just wish it didn't have to happen to my beautiful daughter... My Holly has always been interested in Gardening, she loves being our doors and is an incredibly hard worker.... So when the opportunity came to earn some money doing some basic gardening she jumped at it... On getting to the house it was clear the garden had been attended to for years. The weeds were thick and well entrenched in all the garden beds, but undeterred Holly got stuck in... As she had been taught, she spent two hours digging the weeds out being careful to get the roots not just the plant... But it turns out her thoroughness wasn't appreciated!! Despite making good progress the owner simply told her it wasn't good enough... She hadn't cleared enough... And despite agreeing to $80 she gave Holly $20 and told her she should think about Baby Sitting instead!! For a young lady who puts her heart and soul into her work this was a devastating slap in the face. I was so so angry that someone would treat my little girl this way But as I thought on it, I could see three really valuable lessons in it that every aspiring entrepreneur would benefit from: 1) Set the expectations up front, what is the client expecting in return for the fee you are charging. Be clear and where possible document it, and 2) If the client has unrealistic expectations or are in any way difficult to deal with walk away. There will always be other opportunities, you get to choose who you want to work with, so chose carefully 3) Sadly the world is full of unhappy people who aren’t always nice, while you can and should learn from negative experiences, you mustn’t take what they say to heart While as a Dad I sometimes wish I could protect my kids from this kind of experience, I also know that great strength and resilience come through disappointment. So we pick our kids up, dust them off, hug them, cry with them and encourage them to try again

05.01.2022 More Sales and Revenue Will NOT Fix An Unhealthy Business... A couple of months ago I had back-to-back meetings with two ‘amazing entrepreneurs’ And I remember telling myself halfway through the second meeting I absolutely have to share this in a post... Why? Well, for 2 reasons Firstly the difference in their financial situations couldn’t have been more different, and Secondly if you were using their public success as a guide you would have incorrectly assumed their financial situations were the opposite way around While the different scenarios experienced by each of these entrepreneurs are not uncommon, I rarely see the two extremes in back-to-back meetings. One was an incredible example of what can happen when you purposefully build your business to a proven plan and chase PROFIT not revenue. The other is an all-too-common example of what can happen when we grow, scale and chase revenue at the expense of financial stability. Now please don’t think that I am in anyway being critical here, I am definitely not... Both of these entrepreneurs are absolutely beautiful people, with a passion for what they do and an incredible heart for the people they serve And I am incredibly blessed to be working with both of them The point I am trying to highlight here is that you CAN NOT out earn an unhealthy business. Our entrepreneurial community will tell you that once you have a proven viable offer you should immediately focus on growing and scaling your business Shoot for the stars, chase those 6 and 7 figure awards so you have authority and respect While I am a big fan of growing and scaling You need to be purposeful in the way you go about it. If you want a business that allows you to: Pay yourself the Salary you deserve Spend more quality time with your family Have complete peace of mind that you can cover the unexpected Take time off from the business Give generously to causes you care about, and Have a huge impact on your clients and customers Then you need to be intentional about building financial strength and stability into your business as you grow and scale The good news is: I have no doubt that with a financial road map in place both these entrepreneurs will ultimately hit 7 figures but this time it will on the back of sustainable growth and increasing profit margins

02.01.2022 Why Successful Businesses Ultimately Fail And how to ensure it isn't you! It can be such a humbling experience to have experienced success as an entrepreneur only to watch it all fall apart...Continue reading

01.01.2022 Join The Financially Fit Entrepreneurs https://www.facebook.com/groups/financiallyfitentrepreneur/ Imagine breaking free of the financial roller coaster that robs you of the freedom to give generously and live life on your terms... Imagine if the money side of business was really easy to understand and only took you a few minutes a day to manage If this sounds good to you Click the link below to join the Financially Fit Entrepreneurs Facebook Group... Where I will show you how simplify your finances so you can: - Build a truly profitable business - Eliminate the financial worries from your life - Smooth your cash flow - Create freedom in your business and personal life - Eliminate Debt - Achieve life goals that are important to you - Give generously to causes you care about. Click the here to join the Financial Fit Entrepreneurs https://www.facebook.com/groups/financiallyfitentrepreneur/