Have a Long Term Outlook
I watched an article this morning about the Woolworths (South African company) take over offer to purchase David Jones. It was presented on the TODAY show by Ross Greenwood and there’s one aspect of it that really resonated with me.
He mentioned that the takeover of David Jones had a very long term view of the direction of the business. The directors of Woolworths had a vision over the next 10-15 years and they’re looking to produce more clothing labels within the David Jones branding. It’s proven to be very successful with other companies but will take a long time to turn around. As Ross mentioned a lot of businesses have a very short term view and this is driven by shareholders that want to see returns this financial year and not the next one. As such it’s our society that drives this short term outlook all the way through companies and even onto politics as they only have a 4 year term to prove themselves. It can be very counter productive to have such a view.
The reason this article appealed to me is because it’s exactly what the great majority of my clients are after. They are searching for short term gains and not really planning for the future. When you purchase a home or car these have very long term effects on your finances and you should be fully aware of the implications. I would highly recommend that you all look to implement a long term plan before making any large financial decisions.
We offer a full financial review and check up for $99, however given the importance of doing this I’ll offer the service at a 50% discount for the month of April. Give is a call today and we’d be delighted to work with you on a long term plan for your future.