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12.05.2022 Soft Launch #1 The Modern Accountant

23.04.2022 PRODUCTION: Today we talk about how to get more out of what you do. How to produce more. If you manufacture something then production is the process of taking the raw materials, putting them through some process, packaging them up and then shipping them out to customers. (wow that was easy but I know I missed a bunch of steps!) But we don't really "Manufacture" in this country anymore so more likely you buy a manufactured product from some manufacture and you sell that ...to your customers. Of more likely still, you are in a service based industry and are working out how to get more time sold or more services rendered as that is the only way to growth. Each of these very very broad areas can be significantly influence by Accounting. Manufacturing is all about cost control and process improvement. When I worked as an Internal Auditor for WD & HO Wills, (Now called British American Tobacco) we did many projects on waste management, cost allocation to brands, brand profiability and pricing. Some of these projects lead to big changes in the way things were done. Some resulted in cutting out old products (farewell Craven A). Importer / Wholesaler/ Retailers are all about the cost of their product to selling price that is Margin and we have a raft of things we need to get through in this area. Service providers are about capacity, leveraging staff and overhead cost control. Of course Accounting isn't at the forefront in these businesses, but it is the lifeblood that helps keep the coins in order so that the business can grow and meet its objectives. Next time we will delve into specifics on production. But tomorrow we talk about Protection!

23.01.2022 POWER Oh oh the Power and the passion. I love that Midnight Oil song. Power and passion seem to go hand in hand. If I haved passion for something, I feel a great sense of power to do that thing to get it done. But what about when you don't have passion but you need the power? What can you tap into then to get that power?... Today's discussion is about what I call Power killers. These are Sedation tools. Tools of the devil they used to be called. Sedation is what we use in medical terms to ease the pain. If I have a headache, I can sedate myself with paracetemol to ease the pain. The pain is still there. Whatever caused the the pain still exists. It's just being covered up so that it doesn't bother me anymore. That's why I HATE taking pills. There must be some cause of the pain that I want to deal with, not cover up! But if the pain is too great then sedation might take on a stronger form and that that is where Opioids like morphine come into play. That is in the physical world where we can appreciate what is happening. But in the Psycological world, your pain is a lot more subtle AND your subconsious comes into play so that you end up sedating pain you don't even recognise you have! Sedation tools are TV, Alcohol, Facebook, and anything else that takes power from you instead of enhancing it. So the first step to real power is to recognise where in your life, across Body, Being, Balance and Business (more on these categories later) are you sedating and taking away from your true Power to get things done -without passion?

21.01.2022 Millionaire mindset #16 continued. Did you know your comfort level determines your wealth? If you have a large comfort level, the universe will rush to fill it. Of course the only way to expand your comfort level is to go outside it and push yourself into the uncomfortable. Try new things. Dare yourself to do what your mind tells you that you can't. Be bigger and better. I constantly push against comfort. To me, when I recognise that I'm getting comfortable, that is the time ...to start planning something newer and bigger. Build that container and let the Universe fill it up again. If it feels uncomfortable, do it.

13.01.2022 Millionaire mindset #16: Rich people act in spite of fear. Poor people let fear stop them. Positive affirmations are all well and good, but sooner or later you must take action!... Rich people know you can't eliminate fear but you can tame it! Ask yourself, are you a person who will be stopped or won't be stopped?

11.01.2022 POWER What is it? One of my earliest memories of TV was my mum and dad watching Dallas. I remember not really watching it but hearing JR and thinking that was power. He was a powerful guy. But Power itself was an illusive concept. Does everyone have it? What good is it? Well, I know that everyone has the ability to top into their own Power and without power, nothing would happen. It rarely happens these days but when I was a young lad, the most awesome gift that I would ...ever get was some sort of battery operted toy, either in a box or with that plastic (the type that will still be in the landfill 1,000 years from now, glued onto the cardboard. But the most dreaded words that are sitting on the box, the trap for the unwary gift giver were "batteries not included". Nothing brings a tear to the eye of a child like giving him a shiny new robot soldier only to find out that there was no Power to make it do anything. So yes. Power is important to get anything done and moving. Power in your business really comes down to the things you do to empower that business or more specifically the power you give to people and processes. But it starts with you. If you feel powerless, then you won't be able put that power to use to create, build or service customers. You won't be able to give tremendous value to the world and the world will not reward you. So Personal Power is a vital ingredient. How do you get it if you don't feel you have enough to last you through the day? Well that will be the gist of what I talk about under the heading of power. But as a spoiler alert, I live the Warrior's way. I do this because it gives me power. So I have some direct, relevant and very recent experience of gaining personal power. Stay tuned and all will be revealed.

10.01.2022 Today is a quick departure from Millionaire mindset but I will get back to that soon. Today is about breath. Did you know that deep breathing, breath that starts from your belly and goes all the way up to your collar bone, has alkilining ability. It resets your blood PH which is amazing. I'm doing a course in gaining vitality through breath and cold showers! Cold is weird. You add 5 seconds a day to acclimate your body. I'm up to 45 seconds today but after about 30 seconds, ...I could last much longer. I have already seen a boost in my energy and vitality. To think all this time I thought it was about nutrition and it might not have been at all! Stay tunes as I'm on day 9 of 30!

10.01.2022 PROTECTION Ok so to protect something is to put something in place in order ensure that you still have it when something goes wrong. Hmmm. So we all get the concept of insurance. That is a form of protection. In fact, the most boring army course I ever did taught me some very handy life facts about protection and risk.... There are a number of action that you can take to mitigate risk: Transfer - give the risk to somebody else - as in borrow money unsecured. The risk is now your investor or bankers Insure - pay a premium so that if things go wrong, somebody else will bail you out. Mitigate - Understand that there is always risk, but that if you take steps a, b, and c, I can offset most of that risk. Avoid - Some risks you can just sidestep. Just don't take the action. Just don't take the gamble. You can't lose. Of course you can't win either. Exploit - as most people seek to avoid risk, you can step up and realise that great rewards are there were most fear to tread. We will get into each of these areas of the coming weeks from an accountant's perspective. Tomorrow: Back to POWER. How I have put my day into time warp and get more done in a day than I used to in week or more. (PS. It's NOT about time management).

10.01.2022 Millionaire Mindset # 15: Rich people have money work hard from them. Poor people work hard for their money. It's obvious that if you have passive income and don't have to personally exert for income you are better off. But we are told to get a job and work hard and we will get ahead. But we don't get ahead.... You need to change your mindset to that of getting passive income streams.

06.01.2022 PRODUCTION How effective are you at producing value for your customers? That's pretty much it. If you are a retailer, you give value by your customers by them finding what they want and buying it from you! If you are a professional service provider, you give value in your chosen field. Apart from Power and Profit, Production is about doing more, being more effective, reaching more people, giving more and more value. It's about systems and processes. It's about stopping ...and stepping outside of what you do and how things have always been done. At the end of the day, a person is judged on their ability to produce results = money = wealth and more power. Plenty of people get rich this way alone. So this is what we will delve into, from an Accountants perspective moving forwards. Tomorrow we wrap up the opening discussion by taking a look at Protection.

06.01.2022 Millionaire mindset folder #17 Rich people constantly learn & grow, poor people think they already know. Benjamin Franklin said "if you think education is expensive, try ignorance!"... Always be learning. Never stop.

03.01.2022 Last day on Millionaire Mindset. Well we have covered off the 17 programs that have been thwarting your ability to be rich. So what now? You must make a choice. Sure it would be nice to be rich but do you chose it. I do! Not because I'm greedy, far from it. In fact in my view, greedy would be to not become rich and then rely on others to take care of me in old age. That would be entitled and I don't believe I'm one bit entitled. But I chose to be rich. For many re...asons including the value I will give along the journey. The good I will do with my money will be impactful. And I will make it my mission to bring anyone who cares to be rich along with me. When I was in my early adult years, I had a friend, who was obsessed with money. He was always talking about it and how he wanted it and would do this and that to get it. He turned me and many others off with his talk of money money money. I programmed myself to say relationships and experiences were more valuable than money. Enjoy the journey. My friend never found his riches either. So that was further vindication that I was right. Money is evil. Money is the route to unhappiness. He split with his wife. He never had kids. He drifted away. THIS IS NOT TRUE! I chose to accept a new reality. You don't hate money just becasue of that experience. It didn't teach you about anything. Don't be fixated about money above all else, but you have to stop confusing the universe by wanting money one minute and rejecting it the next. I open myself to money. I declare to the universe that I am open to receiving as much money and more that I could ever imagine. I don't want win the lottery (although if I did I wouldn't send the money back!). I am building a business that will add massive value and provide me with money. I will manage the hell out of that money and make more with the money I have. I have a millionaire mindset. Do you?

02.01.2022 Now that we have finished up on Millionaire Mindset, it's time to dive into a new series which will become the benchmark of what I will be sharing here. I haven't decided on a name for the program as yet, but it has to have something to do with Accounting for Success. Let me work on that, all suggestings gladly taken. The format of the series is hinged around 4 areas and I will dive deep into each one on a weekly baisis.... They are: Power: - What gives you the power you need to be successful in business and in life in general. What get's you not only motivated, but capable of changing your world. Profit - What is it this illusive thing and how does it relate to your bank account. How can I get more of it. How much is too much? Production - What do you do. Power gives you the momentum to create, but this is how to actually get things done. How can accounting help you drive a truck, or build a kitchen or sell a house? How to do more with less is the focus on Production. Protection: Once you have built it, why are there scores of people linging up with their hands out to take it from you? How can you protect yourself and your family so that you keep what you have. So starting tomorrwo, I will delve into POWER. What gives you the drive and how is an accountant supposed to help? See you then!

01.01.2022 Profit: Ah the sometimes elisive and mystical profit! What is it? How can I get it? Is it as simple as selling something for more than it cost to procure? Yes. And No. In this section we will delve into what profit is, the different definitions that accountants speak about. The different concepts so that you, as a business person, can be more empowered to chase down this beast and so to increase your wealth. ... We will talk about cash as well here. Cashflow is the vital like blood of any business and it's linked to either profit or debt. So we will start out slow, weave some pearls in amongst our learnings and find out what it takes to build this profit and become rich! By the way, if you don't think becomming rich is a good goal, have a look at some of my earlier posts on Milllionaire Mindset. You might need to change yours! I know that I did! First pearl of wisdom: Turnover is Vanity - Profit is Sanity! I will go more into this next time we talk on profit! Tomorrow: Production!

01.01.2022 PROFIT: Ok sorry I got waylaid for a couple of days and you guys have been hanging out to make some of this profit thing? So as an accountant I often had clients come to me and sceptically look at the accounts I had laboriously prepared and announced a grand profit! They said that if they had made such a profit then where is it? Why isn't it in their bank account. Where is the money to even pay the tax on the profit for that matter? Why don't they feel richer if they made ...this profit. Is profit all it's cracked up to be if it causes more problems than it solves. If they make more profit, aren't they just working for the taxman? So I guess that is some of the Frequently Asked Questions about profit so I will tackle them in turn. Some of the answers are easy - No you aren't working for the taxman. The most he takes - ever is half, so you split the extra profit 50/50. Better than the 0% you get if you don't make the profit. But some are more complex - like the answer to where is my profit - that will require a detailed explanation of the Cashflow Statement. If you have any Profit type questions for me, please put them in the comments section. Otherwise I will continue to go through these items and we can all get a better understanding of just what this thing called profit is and why it matters. Remember at the basic level, the definition of profit is what you sell something for, less all the costs associated with making that sale. We as humans (and business people to boot) complicate the notion by adding expenses that might not be directly related to making that specific sale - geared rather for personal or future sales. But at it's core, the notion is an easy enough one to understand. But as an accountant, I have to take you through all the "Accounting" Adjustments so that you can know the magic that we do to produce a number that you can see but can't touch, smell or spend! Tomorrow we are back to Production