Author Archives: Sarah Pettiford

The Forecast of Franchising

Franchising has been defined by the Franchise Council of Australia as “an innovative method of distributing goods and services – providing small business with the tools of big business”. So what is the current profile of this business format and where will it lead? A 2016 report conducted by franchising experts sponsored by the Franchise Council of Australia provides us with valuable insight into the future of franchising.

This report highlighted that as of 2016, there were 1120 business format franchisors in Australia employing 470,000 people across 79,000 franchises. The sales turnover for the franchise sector estimated at $146 billion.

To give an insight into the profile of franchising, its performance throughout the past two years can be analysed. Despite being faced with a backdrop of a relatively flat economy and a weakened retail sector, the franchising sector has performed significantly well. Brands have continued to grow and remain sustainable, sales turnover have slightly risen, employment has steadily risen, more permanent full-time jobs have resulted and further growth is predicted for the following 12 months. From the evidence of the report, the Australian franchising sector can be seen as a maturing sector with the capacity to hold its own within a constrained economic climate.

From the consolidation of the sector from 2008-2010 during the global financial crisis, the sector has recovered and since been stabilised due to increasing levels of consumer confidence, low inflation and low interest rates. Therefore a primary area of study was explored focused on the future asking ‘what we can predict for franchise sector growth through 2018 to 2012’?

The following table shows the predictions drawn from the report.

Key findings from the study that are important to note include:

– During the initial years from 2006, the total brand turnover fluctuated within a narrow band of $128 billion and $131 billion but increased with a strong positive trend from 2012 reaching $146 billion in 2016

– Employment data fluctuated the most as it is dependent on economic climate and casual employment fluctuating varying each year

– Franchising is dominated by the retail sector which has faced with intense competition

– Food retailing has become more resilient as consumers are progressively responding to innovation and diverse food concept

– The retail sector is expected to increase further in the future

It is also interesting when looking toward the future at the international markets as well as digital trends. In 2016, 90% of franchise brands operating in Australia were found to have originated here with one third of franchisors having entered international markets. In terms of the digital presence, it was discovered that one third of franchise brands engage with customers through online sales.

The franchise sector is forecasted for overall growth despite the challenges posed by the constantly changing economic conditions.


Report Reference: Frazer, L., Weaven, S., Grace, A. & Selvanathan, S. (2016). Franchising Australia 2016. Griffith University.

What is Vendor Finance for the Sale of a Business?

BY James Douglas

Vendor finance happens when the person selling a business also funds part of the purchase price. The buyer pays an initial amount upon settlement, and the balance (including interest) is met over an agreed period of time with regular repayments. Using vendor finance in the sale of a business can present various risks. It can also present opportunities for buyers and sellers.


When Should You Use Vendor Finance?

Vendor finance may be appropriate when, for example, the purchaser is having problems getting a bank to finance the purchase of the business. While these arrangements are not always the most desirable option for the selling party, sometimes this type of funding allows the vendor to get the price it is looking for.


Risks Related to the Vendor

If the purchaser defaults on its repayments, there is an obvious financial risk to the seller providing vendor finance. There are a number of effective methods for minimising the risk. This includes making sure that:

  • The loan agreement is properly drafted by an experienced commercial lawyer;
  • The ‘repayment’ clause and ‘interest rate’ provision are appropriate for the loan;
  • The loan is secured by the business’ assets;
  • The vendor does not provide too much finance, as this may reduce the buyer commitment to the business based on its investment.

Terms of Vendor Finance Loan Agreement

In a vendor finance arrangement, the parties’ lawyers will usually incorporate the following terms into any loan agreement:

  • How much is being borrowed;
  • What the interest rate will be (typically between 7%-12% annually);
  • The repayment time schedule (e.g. every month, etc.);
  • The term of the Loan Agreement (typically 1-2 years);
  • Form of the loan (e.g. interest-based only, etc.);
  • How financial reports will be provided; and
  • Securities and how they will be provided.

These terms are normally incorporated into a Contract of Sale, or otherwise drafted into a separate loan agreement.

Type of Security the Vendor Should Require

The vendor should make sure that it is adequately protected in the event that the buyer is unable to meet the repayment schedule deadlines and defaults. Security may include things like:

  • A mortgage covering particular business assets (chattel mortgage);
  • A charge over the assets of the buyer’s company (general security agreement); or
  • A mortgage over property owned by the buyer.

It is also a good idea to have the buyer (and its directors) provide personal guarantees so that you are not relying solely on the buyer.

Make sure that any potential security has enough equity in case it needs to be used by the vendor.

Other Requirements of a Buyer

A vendor might also require the buyer to do any of the following:

  • Enter a deed of priority, which would give the seller priority against third party lenders. This means the vendor is “first in line” in terms of debt repayment;
  • Have a statement of assets and liabilities drafted by a certified accountant so that the securities attached the vendor finance loan agreement can be verified;
  • Limit the buyer’s ability to share the business’ profits until the seller has received full repayment under the repayment schedule of the Agreement;
  • Require the buyer grant power of attorney to the vendor in the event of a default. This will allow the vendor to regain control over any licences for the business, which the buyer will need to lawfully operate the business.


Under any company charge (when one party has an interest in another party’s assets), a fundamental right of secured creditors is the ability to appoint a receiver. A receiver usually runs a company to try and maximise its assets, but will collect/sell the charged assets to service the debt owed to the seller. This might mean selling off particular assets or the entire business. Either way, the receiver’s primary duty is owed to the secured creditors or the company.


Directors’ Guarantees for Vendor Finance

Obtaining directors’ guarantees allows the vendor to pursue the directors personally if there has been a default.

The seller can only rely on a director’s personal guarantee when he or she has assets to service the debt.


Any proposed vendor finance arrangement should be discussed with your lawyer and accountant to determine the viability of any agreement. Is it financially wise? How likely is a default? What kind of security can the buyer offer? If you are considering entering into a vendor finance arrangement, keep in mind the following:

  • The assets of the business can depreciate if the business is not run effectively;
  • There is always the risk that a guarantor may sell their personal assets.

Any vendor finance arrangement will have its own risks. These risks should be weighed against the potential benefits with legal assistance and financial advice.

To have a sale of business agreement, loan agreement or general security agreement drafted or reviewed by a commercial lawyer, contact LegalVision on 1300 544 755.

LegalVision, a trusted adviser of The Finn Group, is a commercial law firm that provides Australian businesses with cost-effective and high-quality legal services through an innovation model.

LegalVision have a great news page on their website, as well as hosting a range of free logan information.

About the author

James is a Practice Leader at LegalVision with a broad range of legal experience in dispute resolution, M&A and commercial law assisting small, medium and large businesses. Prior to his role at LegalVision, James advised mainly NSW Business Chamber SME members with litigation matters and their general business and commercial law issues.

Getting your business ready for Summer – Applying for finance

BY Thomas Reeh, Director and Founding Partner of Finn Lending Solutions

Small business owners often think about growth as the season of summer approaches. It is often inevitable that a loan is needed to inject additional funds into the business for the sake of growth and expansion. However, most loan applications are foreign territory for small businesses and are often seen as a liability, particularly if interest rates are high and a firm does not have a clear repayment plan. Yet it is crucial to understand how to go about securing a successful loan to avoid falling into a spiral of bad debt that can harm your cash flow cycle.

You may be wondering, “But where do I begin?” and the first step is to identify the need for a business loan. According to the Small Business NSW website, run by the New South Wales Government’s Trade and Investment arm, you should think about how much you need to borrow, the type of loan needed and the time period the loan is needed for.

You should also consider how much you could afford to pay and whether you are prepared to pay for one-off or ongoing fees as well as interest.

After identifying the need for a business loan, there are five steps you should consider before approaching a specialised business finance broker.

  1. Create a business plan and two year cash flow forecast
  2. Do your homework
  3. Get your broker to shop around
  4. Seek advice
  5. Have a Plan B


  1. Create a business plan and two year cash flow forecast

First and foremost, a loan proposal must match up with your goals for the business, both short and long-term. This means you must consider which type of commercial loan you need and how it will aid in the growth or operation of your business – whether it is the purchase of new equipment or increased working capital. The plan should also identify the operations and history of the business, industry information, ownership details, historical financial information as well as forecasts.

According to the Australian Bankers’ Association (ABA), it is important when preparing the application to not mistake cash flow for profit as banks and other credit providers only consider net profit, not revenue from sales or services.

You should also provide clear and concise information about the directors of your business, as the bank will assess this and you may be asked for guarantees if required.

A two-year cash flow forecast is also very important. The lender will need to be satisfied that you have a good grasp of the numbers, and that there is enough profit to repay the bank’s interests costs. Most banks have a minimum criterion in this respect call interest cover multiple. So, for example, they might insist on at least 1.5 times interest cover. So if the interest costs were $50K they would need to see a net profit of at least $75K.


  1. Do your homework

The ABA also notes that you should ask for the exact amount you need – no more and no less. Asking for less or more than required results in one of two outcomes: the need to revisit the bank and ask for an additional loan, or the rejection of your application.

Requesting for an overly large loan can result in a rejected application as loan decisions are based on formulas that determine how much a business can afford to borrow and thus you will be required to show proof of making payment deadlines that will fit into the bank’s equation.

Dun & Bradstreet’s Trade Payments Analysis revealed that for the September quarter, small businesses (1 to 20 employees) took around 52 days to pay their company accounts as compared to firms with 50 to 199 staff members, which took three days less to pay their accounts.

This was significantly longer than the standard 30-day repayment period and is a clear example of the consequences of not repaying on time.

It is of the utmost importance to assess the capabilities of your business for growth against company and industry forecasts. By doing this, you can determine how a loan will work in line with this trend and how its application can aid your loan repayments.


  1. Get Your Broker to Shop around

As different lenders will have a suite of different loans on offer, shopping around will allow you to match up the needs of your business to the right loan products.

Lenders generally offer a range of short-term loans such as:

  • Overdrafts
  • Credit cards
  • Cash flow lending
  • Debtor finance


Long-term funding is also available, such as:

  • Full drawn advance
  • Mortgage equity loans
  • Interest only loans
  • Chattel mortgages


The variety of loans on offer makes it difficult to identify the perfect product for your business. It is highly recommended that you familiarise yourself with the products that are offered by different financial institutions (including covenants) and any additional fees.


  1. Seek advice

The breadth of loan services coupled with the complexity of loan applications makes it worthwhile to use the services of specialised business finance brokers as well as government or non-government organisations such as AusIndustry.

Seeking advice from someone who is familiar with the loan process or has undergone it previously will also allow you to closely analyse the appropriateness of the loan products in relation to your business needs.


  1. Have a Plan B

No matter how well you prepare for your application and interview process, sometimes lenders will say no. Obtaining credit, particularly as a first-time borrower, can be a difficult process. Ensure that you check your company’s credit report beforehand to ensure your records are clean and that you are being accurately portrayed to creditors and business customers.

You can receive a copy and update your credit file with Dun & Bradstreet’s free service here.

A comprehensive D&B credit profile can ensure your business has the ability to secure better interest rates and credit terms from banks and lending institutions.

Finn Lending Solutions is a group of finance experts that have access to a competitive range of loan solutions. As full members of the MFAA and with experience across Australia’s loan marketplace, we are in a unique position to help you analyse and compare different loan options and choose the loan that is right for you. We excel in helping clients buy franchises or independent businesses and are always striving to ensure your individual needs are met.

First and foremost, Finn Lending Solutions values integrity and respect. Our goal is to earn our clients’ business by insuring that we treat every client the way we would our closest family member. We believe that by offering a wide variety of loan options and considering your needs as the most important factor, we will provide the best service available in the industry and earn your business the old fashioned way – through results that make customers happy.We’ve structured our business to prevent and avoid favouritism to any institution by not allowing incentives, so that our clients can be sure that they are getting the most advantageous loan available for them. Finn Lending Solutions always offers transparency and fairness and value the relationships that we build with our clients.

Excellence – We set expectations of excellence throughout the Finn Lending Solutions team in order to best serve our clients.

Results – We all contribute to achieving consistently high results through our lending services and investment performance that directly affect the lives of our customers.

Service – When dealing with our customers and each other, our commitment to service sets us apart.

Integrity and Respect – To build trust and ensure transparency, we communicate openly and treat our customers, stakeholders and each other with integrity and respect.


If you are wanting to contact a lending expert or learn more about Finn Lending Solutions, please click here.

Perth Franchise Brokers take out two Franchise Council of Australia Excellence in Franchising Awards

We are thrilled to announce Franchise Brokers Perth North & Regional WA were the recipients of two national awards at the FCA’s Excellence in Franchising Awards held 11th October 2017 on the Gold Coast. This is the first time a member of The Finn Group has received Franchise Council of Australia Excellence in Franchising Award nationally after being finalists several times.

Ryan Willsher took out the National Multi-Unit Franchisee of the Year as well as the award for Franchisee Community Responsibility and Contribution alongside Kate Longman who works with Ryan in Western Australia.

After winning the award for Franchisee Community Responsibility and Contribution in Western Australia this year, Ryan & Kate have taken out the national award in this category. This award recognises the commitment they have made to their community by raising funds for local charities, as well as hosting information sessions with their fellow WA Finn Franchise Partners to educate and empower franchisees.

The National Multi-Unit Franchisee of the Year award comes after Ryan won the WA Multi-Unit Franchisee of the Year award this year and Single Unit Franchisee of the Year in 2016.

“Winning these Awards means a lot for both me and my team, but also our brand. We’re still a relatively young brand so to be able to receive an Award like this means a lot for everyone involved. It will definitely help us win business, People will trust us more and it will give us a lot of credibility,” Ryan said upon receiving the award.

It’s been a successful month for Ryan. Earlier in October at The Finn Group National Conference, he was recognised for his efforts winning the award for Finn Franchise Brokers -Franchise Partner of the Year.

We also congratulate Sunshine Coast and North QLD’s Franchise Broker, Dione Mauric, who was also nominated in the Multi-Unit Franchisee of the Year category after taking this award out for QLD earlier this year. Kate Longman is also to be commended on her nomination for Franchise Woman of the Year after winning this award at the Western Australian state awards for the past two years.

“As an organisation, we work really hard and it’s outstanding to see Ryan, one of our top performers, recognised for this award. It’s important to also recognise that our franchise partners don’t have success without a great support structure around them. Their families, team members, colleagues, fellow franchise partners…. and the franchisor a little bit too! I feel that this is going to be the first of many awards for our young group,” said Len Ferguson, Managing Director of The Finn Group.

Many congratulations to all of our winners and nominees – we are very proud of your achievements.

To read more about the FCA awards please click here.

Spotlight on booming small-business industries

One of the biggest financial decisions you make in your life is buying a business. Thus, it is important to understand the trends of different industries if you’re looking to make buying a business the next step in your career.

Research is needed to make an informed decision into which industry is right for you. Knowing which markets are performing well and the various benefits involved in each is important. This will also highlight which industry you’re most likely to find a business for sale in.

To assist in the market research, a ‘top five hottest industries’ list has been compiled by SEEK Business. The list was drawn from the number of ads and the numbers of enquires they receive. To see which industries are trending and the key benefits offered in each for buying a business, see below.


1. Coffee, Cafes & Restaurants
This is consistently the most popular industry on SEEK Business, and for good reason! Owning a business in this category is a great way to have an exciting work life while doing something you can really be passionate about.

The cafe and restaurant industry is always evolving with new trends and products constantly progressing, so every day is different. It’s an inherently social industry, but owning and running one of these businesses is also hard work.

On the plus side it’s a resilient sector that has weathered many financial downturns. So, if you love a fast-paced environment with a diverse set of challenges and learning opportunities, a cafe or restaurant could be for you.

See Finn Business Listings relating to coffee, cafes here & restaurants here.


2. Takeaway & Casual Dining
The takeaway industry shares many qualities with the cafe and restaurant industry in that it can be a great business for anyone to dive into. No set skills are required, except obviously a love of food and drink – and people!

Because many people are very passionate about food, casual dining has retained popularity over time – even increasing with millennials, who choose to eat out more regularly than any other generation. This is a key benefit of buying a business in this industry. So, whether you see yourself slinging fish and chips by the beach or finally having your own bakery, the odds are in your favour that you’ll find a good opportunity.

See Finn Business Listings relating to takeaway here & casual dining here.


3. Business Services
This broad industry includes anything that supports a business but doesn’t produce a tangible commodity. So, anything from financial advice and plumbing to promotion or legal services. Because this sector is so large it’s always popular and has plentiful opportunities.

Business services often involve consulting, so it’s a perfect industry to choose if you have a specialised skill that you want to share by branching off into your own business. Many opportunities include training for specialised skills that may be needed, so it’s also an excellent way to grow or improve on your existing skill set. If you have some business acumen or experience in corporate roles with sales or management, this could be a great match for you.

See Finn Business Listings relating to business/professional services here.


4. Food Outlets
This sector differs from the other food categories in that it covers food that’s for sale but not necessarily ready to eat immediately. Butchers, delis, produce stores, fresh fish markets, specialty grocers and liquor stores all fall under this category.

Retail food outlets are great to buy as the products they tend to sell are typically always in demand. These businesses can combine the convivial energy of a neighbourhood cafe with the focus and specialised skill of a business service. If you’ve ever found yourself drawn to a particular type of food or drink, you’re sure to find a retail food outlet specialising in that product very enjoyable to own and run.

See Finn Business Listings relating to food outlets here.


5. Manufacturing, Wholesale & Distribution
This sector comprises a wide range of business opportunities that can include signage, printers, manufacturing warehouses of all kinds, and more in the business-to-business realm. There’s always a need for these services, so it’s generally a financially gratifying experience.

Whether you come from a trade or not, it can be personally rewarding to build a manufacturing, wholesale or distribution business. If you enjoy an unpretentious, active environment, you’re sure to enjoy getting hands-on in this industry.

When it comes to buying a business, passion is important, but so is opportunity. These five industries offer great prospects in terms of return on your investment and potential to purchase. So, take a look and see what they have to offer.

See Finn Business Listings relating to manufacturing here, wholesalers here & distribution here.

How to decide what you want in life (and business)

FEATURE ARTICLE by Allan & Barbara Pease

Most people struggle with questions such as ‘How do you define success?’; ‘Who do I want to become?’; ‘What do I want to experience?’; ‘What assets do I want to accumulate?’

Everyone knows the feeling of having an inner urge to do something that excites you whenever you think of it. But generally, people rarely make that thing happen.

Why most people never do much
When you were born you were absolutely clear on what you wanted in life and you refused to let anyone or anything stand in your way of getting to it. If you were hungry you cried loudly until someone fed you. By the time you could talk you were hammering your parents over and over with your wants until they either gave in to you or they ran away from home.

Overall, you laughed at most things that happened in life and didn’t take yourself too seriously. So what happened between childhood and adulthood? Well, when most kids are young, their brains are being continually programmed with phrases such as:

  • Act your age – grow up
  • You should be ashamed
  • You are selfish
  • Accept what you’ve been given
  • Who do you think you are?
  • No, you don’t feel like that
  • Eat everything on your plate
  • I wish you were more like …
  • You are a bad child!


As a result of this RAS conditioning, most people arrive at puberty being compliant to the demands of others. The spontaneity and dreams they had as children have been suppressed or completely lost. By their late teens they are doing things that adults want them to do and, whether they realise it or not, have been conditioned into making choices such as marrying the ‘right’ person rather than someone they want to marry, they take university courses that their parents want them to take, or they choose a ‘secure’ job instead pursuing an exciting life. They take the safe, ‘sensible’ path in life and many then tiptoe silently through life to retirement and early death.

What’s the point of climbing the ladder of success to discover you’ve leaned it against the wrong wall?
Living up to others’ expectations is futile and will only bring you anxiety and unhappiness. We respect people who are passionate about what they want and who beat their own drum, even when we don’t necessarily agree with what they might want in life. Make a decision now that you will take control and do what you want in life, not what others may demand of you.

How to decide what you want
The starting point is to write down anything you think you may want to do or achieve, regardless of how trivial it may seem to anyone else. Include on your list any dreams you have had as a child that still hold some significance to you. Also, record any idea you may see or hear about that strikes a chord with you. Try to have at least ten to twenty items on this list and include anything that has ever seemed appealing to you. And we mean anything.

Writing something on a list doesn’t mean you are committed to it; it’s just an idea that appeals to you right now or has interested you at some point in the past. When you start your list, keep it to yourself or share it only with someone you completely trust. Do not discuss the list with anyone who may want to manipulate you or may tell you that something on your list is a silly idea or can’t be done. This list is all about you. Do not show it to dream-stealers and never allow yourself to be defined by someone else’s opinion.

Don’t let people who gave up on their dreams talk you out of yours.

Decide what — not how
Most people don’t get the things they want in life because they focus on how they might achieve something. They look at what others
have achieved and think, I wouldn’t know how to do that. So they do nothing. Instead, they should decide what they want to achieve.
The first and most important principle in achieving any goal is to decide what you think you might want, and not focusing your thoughts at this time on how you will actually achieve it.

If you concentrate on how something could be done, you can become discouraged because, right now, you either don’t know a way of
doing it or you don’t have the skills or circumstances that are required to achieve it. And so nothing happens — you never get started. The most important lesson right now is to think about what you want and don’t, under any circumstances, think about how you will do it – not yet. We’ll get to this later.

First decide what you want. Your RAS will then search for the answers to how to achieve it and the ways will begin to appear.

Create a goals book
Collect pictures, images, and text that describe or illustrate your goals. Put them in a book, and read it everyday. Our personal lists are wide and varied and include things that often just seemed like an interesting idea at the time. But, either individually or together, we have started and mostly achieved over 90 percent of the items we wrote on these lists.

Why writing a list works
Have you ever noticed that when you read a newspaper or magazine, you see some articles but not others? You may feel that you’ve read everything in that paper until someone asks if you read a particular article and you can’t recall seeing it. You then re-read the paper and discover that the article fills an entire page! But you didn’t see it. This is because your RAS is a target-seeking mechanism that only lets you see things related to the thoughts and ideas you’ve put into it.

Your RAS only seeks out things relative to what has been programmed into it and ignores the rest. If, for example, you decide to think only about tigers, everywhere you look you’ll see stories, movies and information about tigers. You’ll see tigers on the television, on the Internet, in magazines, on cereal packets, and on advertising billboards, and you’ll hear people talking about tigers. Yet prior to deciding to think about tigers, you probably never saw anything about them.

Why handwriting your list is so important
Studies show that you are 42 percent more likely to achieve your goals just by handwriting them. When you use a keyboard to type, it only involves eight different movements of your fingers and this uses only a small number neural connections in your brain. Handwriting can involve a range of up to 10,000 movements and creates thousands of neural paths in your brain. Writing your goals activates your RAS and instructs your subconscious to work on them, whether you are thinking about them or not.
When you decide exactly what you want to do, have, or become, your RAS will begin to seek out the ways to do it. Once you put the thought into your mind, you’ll begin to see, read and hear things about it. It’s that simple. And this is what very few people ever do.

Constantly re-reading your written list of goals will soon clarify how important or unimportant each item really is to you. Keep adding to your list, modifying it, and subtracting from it. After a while, some of the items will keep re-appearing on it because these are the ones that will have the most meaning for you. Put a copy in any location where you can always see it. As you think of new things, add them to the list. The longer your list, the better.

The difference between millionaires and billionaires
A study of wealthy people in the 1970s was conducted to determine the main differences between millionaires and billionaires. While both groups were wealthy, the researchers wanted to know why one group was so dramatically wealthier than the other. After three years of research, the one point that was the most similar between the two was that both groups knew exactly what they wanted. But the billionaires had clearly written lists of their ideas, goals, and objectives. While the millionaires were equally passionate about their goals and knew exactly what they wanted, they had a significantly lower incidence of written plans than did the billionaires.

The message here is clear. Make a list of your goals – in handwriting.

How to discover your true business, career path or life mission
How you spend your working life is usually one of the top priorities on most people’s lists, yet studies show that more than eight out of ten people don’t like what they do for a living.

Here is the answer to finding your life’s mission – what is it in your past that you enjoyed doing more than anything, and that you loved so much that you’d do it for free if given the opportunity? Think back to the things in your life that gave you the most joy and happiness, and made you feel the best. These are the areas in which you will find your life’s mission, business or true career.

Find something you love to do and you will never work another day in your life.
Maybe you enjoy eating out at nice restaurants, reading books and magazines, going to parties and dance clubs, watching movies, listening to or playing music, meeting new people, surfing the net, playing sports and shopping. Well, thousands of people get paid to do those things. By producing things for other people to enjoy or use in their lives you convert a passion into a sustainable income.

The things you are passionate about are not random. They are your calling.
You can make a great living out of doing anything that really turns you on. But you first need to decide exactly what you love and then write it down.

The definition of a ‘job’ – Just Over Broke
Millions of people are making successful careers right now from the things that turn them on. They wake up every day full of excitement about going to do more of it. This is what you need to do too if you want to live a fulfilling life. Starting in a venture or career purely to make money does not stand the test of time, and it can make you cynical and unhappy. Do what your heart says you were meant to do and the money will eventually follow.

Don’t be pushed by your problems. Be led by your dreams.