All Time Best F.I.R.E. Recipe Revealed by Award Winning Chef!

Chef

Recently I had a very enlightening conversation with a chef, and discovered why their cakes always win the awards?

Applied the same way I discovered a foolproof process for having your cake (achieving our own financial goals in life) and eating it too.

 

Conversation with an Award Winning Chef.

 

Award Winning Chef: What is the first thing you need to do when you make a cake?

 

Me: Get the ingredients?

 

Award Winning Chef: No!

 

Me: Get the recipe?

 

Award Winning Chef: No!

 

Me: Um.... I don’t know, I give up. What do I need to do?

 

Award Winning Chef: Decide what type of cake you want to bake, and why?

 

Me: Doh! (Of course). Was that a trick question?

 

Award Winning Chef: Before you start anything else you need to “know what you want to make and why”.

 

Knowing what you want and why, befits your inspiration, edification and examination of all that you’re attempting to create. So before you begin baking a cake or anything you want to create in life, your very first essential ingredient is to know what you want to create & why.

 

Me: That’s a great lesson for us all.

 

Award Winning Chef: Ok what do you need to do next?

 

Me: Find the best recipe?

 

Award Winning Chef: Correct. Then?

 

Me: Shop to get your ingredients?

 

Award Winning Chef: Close. You need to find the best ingredients for your unique environment. See here? I use this special flour and local eggs because the humidity is higher here in Cairns than other cities. If we don’t use this local flour and eggs our cakes are likely to be less light and fluffy.

See it’s the collaboration of both science and art that guarantees an award winning cake.

 

Me: Really? I never knew that. I thought all flour was flour and eggs were simply eggs. Good to know chef! What’s next?

 

Award Winning Chef: You need to add your ingredients in the right order. If you add them in the wrong order your cake batter will become lumpy, or worse the batter separate when baking.You also need to have the right skills and tools.

 

Try beating two dozen eggs with a teaspoon. You’ll spend all day beating, early onset RSI and still have a substandard cake batter.

 

The same rule applies with your trays, oven, cooling grill and oven mitts etc.Ok what next?

 

Me: Heat the oven and put in your cake batter?

 

Award Winning Chef: Good but there’s more. Oven's often heat unevenly, therefore you need to know where the best place in your oven to bake. Also knowing if your oven fan forced, or conventional makes a big difference to your cakes success. What’s next?

 

Me: Check it doesn’t burn? The chef rolls eyes!

 

Award Winning Chef: The mistake most people make is they keep checking how their cake is going. They open the oven, give it a poke, fiddle with the temperature and often take the cake out earlier than recommended. The result. An average cake!

 

For the best results follow the recommended instructions. If the method says 40 minutes at 350F/177c.Then follow the instructions.

A light, fluffy, amazingly delicious cake will be the reward for your patience.

 

Applying the chef’s lessons to our own financial goals in the following order for an award winning performance.

 

  • Know specifically what you want to achieve and why.
  • Discover the best method from the super stars in the industry. Just like award winning chef's enjoy sharing their recipes freely successful industry leaders are often happy to impart their life lessons to those interested to learn.
  • Use the right financial vehicles specific to your unique situation. Insurance is a cost but it maybe be less costly than self-insuring. A savings plan is good however an investment plan if you have a longer investment term may deliver higher returns.
  • Implement your strategy in the right order. Over borrowing when cash flow is tight is a recipe for financial disaster. Rather than over borrowing and everything going pear shaped, better to first consider establishing a regular savings habit, then an emergency fund, protect your assets, only then consider leveraging your wealth if appropriate and finally focus on paying down debt. 
  • Use the best financial tools and strategies for your needs. Low cost investment managers, nil fee bank accounts, accountability coaching, suitable asset allocation, equites, property, own business, cash. Choose and implement what’s best for you.
  • Finally patience. If by your projections your financial independence time frame will take fifteen years, then stick with it and be patient. Trying to achieve it to fast is like turning the oven up to high. You’ll only risk getting burnt.Counting your investments is good and interesting, however if you it takes over everything else in your life, maybe ask yourself the real reason why you feel the need to check so often? Hint: It’s not the cake!

 

Let Them Eat Cake!

 

For those who love good food, or even a embarking on a food safari, head to Melbourne Australia this New Year and join in the celebrations of all things food, music and art at the Let Them Eat Cake Festival

 

Otherwise if you are stuck in a funk or you’re lost in a cloud of complexity feel free to contact me. Most often in life we just need someone to talk things through and to lighten our load a little. The following article may also be of help.

Financial Independence Made Simple

Wholeness vs Happiness. The results are in!

What’s important to You?

Are You a Fearessional?

7 Way to Be Instantly Free & Start Living Your Ideal Life Now!

 

About Peter Horsfield

Peter Horsfield in an Authorised Representative and Investsure Holdings Pty Ltd ABN 16 050 286 630 as trustee for Horsfield Family Trust ABN 55 609 068 513 is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd ABN 47 097 797 049 AFSL and Australian Credit Licence No. 236523.

Add a comment

Finding Your Sweet Spot

ice20kids

“The middle is messy but that’s where the magic happens”  Brene Brown

I love ice cream any time of the day and I especially love an ice-cream on a hot summer day.

Today is one of those days, 31c with 95% humidity, so it feels very hot.

As I sit back and enjoying this simple pleasure of eating an ice-cream my mind wanders back to happy childhood memories and dreaming about what I wanted to be when I grew up. I remember liking trucks; wanting to be rich and become someone important.

Like most people I had no idea what this meant or what I really wanted to do.

After finishing school I held down several casual jobs, travelled and did what I did to make ends meet. Ultimately I found myself in a job that got me onto a career path and I continued that path trying to rise through the ranks.

This was until I found my sweet spot.

The sweet spot being the merging of my passion, talent and money.  All three being essential ingredients in tasting and experiencing success.

Why is finding your sweet spot so important?

Because success in whatever we put our time, money and energy into takes more than just that, it take passion as well.

Our passion is definitely our “secret reserve tank”. It gets us through the impossible, however passion alone is only a “hobby”. Furthermore if we have money and no talent we fail and if we have talent and money but no passion, we lose interest to soon.

So how do we find our sweet spot and how do we know what it is when we’ve found it?

econ-logo

Source: https://execed.economist.com/career-advice/career-hacks/how-find-your-sweet-spot-3-critical-elements-success

Passion

We each have something we are most passionate about and I believe it doesn’t just show up. Rather it’s something that is innate within us and something we’ve always known we’ve had. I’ve also heard our passion described as our core values and principles. Something which remains in our mind even in our natural state of rest.

A simple and effective tool to help discover your passion is asking yourself “What’s important to you and why?" Following you answer by asking that same question based on your last answer. For more see Maslow’s Hierarchy of Needs

Talent

Building on your passion; are you passionate about your talent?

I passionately wanted to be financially independent. I also had a knack for saving money and learning how to grow it.Witnessing my results fuelled my passion and the results were my evidence of my talent. Furthermore I was able to transfer my passion and talent into a career change; from working behind the bar, to working behind a teller at a bank From Little Things Big Things Grow.

Finding what you are good at and what you are passionate about as useful as a two legged chair, we need one more leg to assure our success is well footed.

Money

No Money, No Honey! What?

In my spare time I write this blog, I also research and write about Extraordinary People however even though I have a passion and a talent for this I classify them as my hobby. Why? Because they make minimal/no money.

People do pay me to help better clarify their goals, what’s important to them, help them to implement what’s best for them and help them stay on track; making their goals a reality.

The money they pay me allows me to run a sustainable business model, while continuing to improve, add value, assist, and implement their needs in value adding ways.

Sweeeeet!!!

Discovering our sweet spot requires us to step out of our comfort zone. Most of the time All of the time this is scary, however successful people know that this is where growth and rewards come from. The flipside risk is complacency, ultimately which erodes our passion.

One final insight when your found your sweet spot; remember that just like an ice-cream success tastes sweeter when shared with good friends.

If you are stuck in a funk or you’re lost in a cloud of complexity feel free to contact me. Most often in life we just need someone to talk things through and to lighten our load a little. The following article may also be of help.

Money Free Weekend Challenge

If Not Now? Then When?

How Much Is Your Job Costing You?

Free At Last

 

About Peter Horsfield

Peter Horsfield in an Authorised Representative and Investsure Holdings Pty Ltd ABN 16 050 286 630 as trustee for Horsfield Family Trust ABN 55 609 068 513 is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd ABN 47 097 797 049 AFSL and Australian Credit Licence No. 236523.

Add a comment

My Money Free Weekend Challange

 

Money Free Weekend“We all make choices, but in the end our choices make us”.

Or put another way; our success is dependent on our decision to choose the activities that will propel us towards our goals compared to those that will hinder us.

When I first began savings I set myself a challenge to have a money free weekend once a month. In fact I found the challenge so addictive and fun I'm still doing it twenty two years later.

Remember the media, marketers and advertises all want one thing. Our money! They do this by selling the perception that you buying what they’re selling will equal’s happiness for you.

The following is a list of activities that require no money to participate in; however they all provide the foundation to experience a higher quality of life; for you and those important to you.

You’re guaranteed to find the experience inspirational and your expense account appreciate it.

$10,000  Money Saving Ideas

  • Instead of buying books join a library. Libraries today are more than books; they have DVD’s, newspapers, free internet, books of course. Free. Savings estimated $250 pa+
  • Make lunch with from previous dinner and bring to work. Savings estimated $2,500 pa+
  • If you live close enough to walk/run/ride to work or public transport, only use the car on weekends or alternatively car share. Savings estimated $1,000 pa+
  • Ensure bank accounts, credit cards have no annual fees or ATM withdrawal fees, only withdraw from Banks ATM or affiliates so not to attract transaction fees. Savings estimated $250 pa+
  • If possible choose public transport over taxi. Savings estimated $500 pa+
  • Wash own car & iron clothes instead of car wash or cleaner. Savings estimated $500 pa+
  • Review/shop insurance premiums annually for savings. Savings estimated $500 pa+
  • Meal coupons, shows, vouchers etc... (dining out regularly). Savings estimated $2,500 pa+
  • Hold off expensive purchase/gifts until sale time and/or shop at outlet or online so to minimise risk of overspending and of unnecessary compulsive purchases Savings estimated $1,000 pa+
  • Buy in bulk cleaning, personal care, staple goods when on sale. Savings estimated $1,000 pa+

$10,000+  Money Making Ideas

  • If you don’t mind branding your car as a moving billboard you can earn approx $5,000 pa
  • In your spare time become a mystery shopper/write product reviews/research market group earn approx $2,500 annually in addition to receiving free products.
  • Start a business aligned to your passion online/markets etc...It’s a great way to meet people of similar interests, make some extra cash, potential tax deductions and learn about biz.
  • While it’s not a guarantee becoming more qualified in your profession. Higher earnings have research to be linked to higher qualification of approx 15%-25%+ more than unskilled roles.
  • Consider ways to maximize your rental return if you have an investment property. Properties furnished white good properties can increase weekly rentals by an additional $50 pw or $2,500 pa and are deductible items for tax.
  • Become an extra for movies, television, commercials and earn up to $500-$1,000 per day.

21 Free Positive Experiences & Activities Challenge

  • Get creative. Write poem, a short story, a song, your memoir, blog, a diary, draw etc
  • Learn a new & interesting skill. An entertaining magic trick, a new language, astronomy etc...
  • Walking tour around your city, learning history and famous historical landmarks and markets
  • Visit parks, forests, gardens, beach get out doors... maybe have a picnic there too.
  • Exercise. Getting fit doesn’t require a gym. Go for a run, bike ride, free weights, yoga etc.
  • Spring clean and sort/donate your old clothes/items. One part chore another you will feel great and de-clutter you environment.
  • Maintain your stuff. Sharpen your knives, weed garden, wash vehicles and fix small things etc before they become bigger problems. Feel great and proud you take care of your things.
  • Get sexy. Candles, flower petals, bath, massage with a partner...
  • Sort your old photo album and label where, when and your feeling at the time.
  • Try solving a crossword puzzle, Sudoku, What’s different in these two pictures? etc...
  • Visit the library, an art gallery, museum in your city. Most, if not all are free entry.
  • Find an inspiring interesting book at the library you would like to read and read it.
  • Grow something from seed. Feel great that with your care, you are encouraging life to grow!
  •  Volunteer for a cause you are passionate about or offer to help out a friend or neighbor. Meet other like minded people, do something nice for someone else and feel great.
  • Get your finances in order, accounts, check correct payments, receipts for tax, write a will, do some goals planning you will fill more confident and have greater peace of mind.
  • Attend a free community class, or concert, a free intro offer class, or religious service.
  • Play a game with family and/or friends, Sherade’s (sounds like?), hangman or a board game/card you have.
  • Catch up with family or old friends for a chat, if they are far away write a letter, card or email
  • Have a nap. Life can get hectic so remember to take care of yourself too, i.e. rest & recovery
  • Mentor someone and be mentored by someone. We stop growing we go backwards in life.
  • Schedule your life and stick to it. Allocating me time (reflection), exercise time, relationship time, career time, self development time, home chores, preparation for next day, and fun experience time. This will help you stay on track with self accountability and the small goal you achieve for yourself will build your confidence to take on bigger goals. 

If you are stuck in a funk or you’re lost in a cloud of complexity feel free to contact me. Most often in life we just need someone to talk things through and to lighten our load a little. The following article may also be of help.

Are you in the way of your own success?

Financial independence made simple

From little tings big things grow

The story of 4 horses

Live your ideal life without financial concern

About Peter Horsfield

Peter Horsfield in an Authorised Representative and Investsure Holdings Pty Ltd ABN 16 050 286 630 as trustee for Horsfield Family Trust ABN 55 609 068 513 is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd ABN 47 097 797 049 AFSL and Australian Credit Licence No. 236523.

 

Add a comment

If You Were a Listed on the Share Market Would You Buy Your Stock?

Invest in You

Part of my day to day routine is meeting with BDM’s (business development managers). As you can imagine like any meetings some are zzzzz! and some are great.

One of the best questions a BDM has ever asked me was, If You Were a Listed on the Share Market, Would You Buy Your Stock?”

I remember staring back blankly as I began imagining a bunch of long faced sceptical analysists pouring over my life, benchmarking me as a business, my personal and financial growth, pulling out a slide rule to measure my routines, efficiencies, asking about my life’s back up plans, satisfaction and plans for growth.

“Sure I would” I replied but the question was so great that I continued to ponder it throughout the rest of the meeting.

So given we’ve just finished reporting season here in Australia I thought it timely to review my own performance through the lens of You Inc.

  1. Income & Expenses: Am I spending more than I’m earning?
  2. Assets & Liabilities: Are my current debt to asset ratio to high?
  3. Cash flow certainty: Am I able to comfortably fund my fixed and variable expenses?
  4. Remuneration: Am I paying myself enough or to much?
  5. Risk Management: What safety measures do I have in place to ensure unforeseeable events can be contained?
  6. Growth: How much am I reinvesting back into myself to supporting future earnings?
  7. Process: Do I have a documented plan to support my daily activities and achieve my future projections?
  8. Culture: How inspired and motivated am I and do I enjoy what I do?
  9. Performance: Am I more valuable in my and others eyes than previously?
  10. Projections: What are my expectations and ability to achieve them?
  11. Competitive Advantage: What makes me unique and what are my plans to maintain my uniqueness?

I’m confident that there’s pages and pages more questions analysts ask CEO’s and CFO’s when interviewing them to make their recommendations however I wonder how many and how often of the above questions we ask ourselves?

And before you go jumping all over me, I’m human too. Life is messy and I understand that.

Sometimes instead of going to the gym, which is literally next door to my office, I walk myself over to the supermarket and go consume me some sugar! Some days I begin the day with a long list of to do’s and I never complete one of them. Other days I kick arse!

The bottom line is how confident are you in your abilities and what evidence can you produce to back it up?

So would you and others rate you as a Buy recommendation or a Sell recommendation?

Or would you only take a buy option or worse short you?

Finally how capable are you and can you deliver to your investors within an expected time frame?

If the answer is yes? then congratulations. Not only do you know what you’re worth your odds of becoming more valuable are likely to increase every day. Additionally knowing you have a benchmarking process that holds yourself accountable underscores a culture and mindset of improvement, efficiency, uniqueness and growth.

If however the analyst’s questions made you squirm a little then maybe you’ve got some work to do. It’s not the end of the world, as there’s plenty of listed company turn around stories. Maybe the market is just out of love with you at the moment and with some sweat equity you’ll rise to become the next market darling.

My hope is that you see this little blog as a call to action or even better a report card that’s beaten the analysts’ expectations.

Just remember the best investment is always the one that invests in yourself.

If you are stuck in a funk or you’re lost in a cloud of complexity feel free to contact me. Most often in life we just need someone to talk things through and to lighten our load a little. The following article may also be of help.

Are You in The Way of Your Own Success?

If Not Now Then When?

Benchmarking Success

Are You a Fearessional?

How Much More Are You Worth?

About Peter Horsfield

Peter Horsfield in an Authorised Representative and Investsure Holdings Pty Ltd ABN 16 050 286 630 as trustee for Horsfield Family Trust ABN 55 609 068 513 is a Corporate Authorised Representative of Infocus Securities Australia Pty Ltd ABN 47 097 797 049 AFSL and Australian Credit Licence No. 236523.

Add a comment

Login Form