VITALITY EDITION
Powerfully Quiet Dive into the Coral Coast Start with a Strategy
Trends for the Races Conqering the Glass Cliff
Horses for Courses Your Money Wealth & Estate
ISSN: 2653-0317
2021 Issue 5
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IS THIS YOU? Drag yourself to work Irritable and impatient Lack motivation & energy Drink to relieve stress Eat on the run
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Eternal Issue Photography & illustrations: Tourism Western Australia, Wikimedia Commons, Unsplash, Pexels, Neil Churches, Cover Image by Prue Aja Photography
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Hepburn is a fresh approach to a women’s magazine. We celebrate strong, fearless, and ambitious women who are born to lead with power and dignity.
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NEXT ISSUE November 2021
Letter from the Editor Spring, I love this time of year! With the new
growth on the trees, the air freshening up, bulbs bursting through the ground, the snow melting. Longer days, and the flowers all colouring the landscape. I always feel revitalised emerging from those cold wintery days. Spring gives me a sense of new energy and drive. It becomes a time for planning, preparing for the year ahead, revisiting my vision and mission, and preparing the strategies to bring all to fruition. We will be celebrating soon! It is almost one year since we launched and published the Premiere Edition of Hepburn. And I am so proud of the team and what we have achieved, what we have learnt, and where we are heading. We have revitalised our magazine and encourage you to share your thoughts on our new look inside. So as we hit our one year mark, and step into Spring, I welcome you to read the Vitality Issue of Hepburn. In this issue, influenced by the growth and vitality of Spring, we explore the Trends for the Spring Racing Carnival, Conquering the Glass Cliff, How Quiet is a Power Strength, Six Ways to Earn Money From Your Home, and 2022 Start with a Strategy. We introduce our new Business Book Review section featuring Quietly Powerful by Megumi Miki. Our Nouvelle Cuisine section will tempt you with an invigorating Spring inspired mocktail and cocktail and canapes. We also invite you to Dive into WA’s Coral Coast and inspire you to don your boots for some horse riding with our Horses for Courses article.
We also feature women who have inspire us in many ways and hope they will inspire you too! In this issue we feature Katalin Karikó, Özlem Türeci, Anika Chebrolu and Ramida Juenapaisal as our Influential Women in Leadership. These woman are helping save the world from COVID-19. Given it is the start of the Spring Racing Carnival, it would be remiss not to include some horsey women. So we feature in our Inspiring International Women is Anne, Princess Royal, Michelle Payne, as our Amazing Australian Women, and our Gone but Not Forgotten women is Elizabeth Taylor. Each of these women are amazing in their own right and our stories provide a small glimpse into their triumphs, their courage, and their philanthrophic side. We will be sharing these stories on our YouTube and podcast channels shortly. Like any journey, Hepburn is not a solo adventure. It is only achieved through the efforts of an amazing team and our contributors. I personally wish to thank each member for their contribution to make each issue better than the last. And send a special thank you to our puzzle auditors, Chloe Hicks, Xander Thorn, Zara Miller and Bronita Dunn. So as we welcome Spring and the longer days, I encourage you to revitalise, commence planning for 2022 and start with a strategy.
Jacqueline Hodges
Melissa How, who appears on our front cover this issue is an extraordinary Melbourne Woman who shares some thoughts on her business and strategy.
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Featured Women
Contents
12 Influencial Women In Leadership Saving the World
Appetence
Passion
18 Conquering the Glass Cliff
72 When to Stay Quiet
22 Quiet is a Power Strength
76 Exploring Kapa Haka
Abundance
Nouvelle Cuisine
25 Your Money, Wealth, & Estate
88 Mocktail & Cocktail
33 Conversations with Andrew
Ambition 45 2022 - Start with a Strategy 52 Business Book Review
Amour Propre 58 What’s In, What’s Out
37 Inspiring International Women Anne, Princess Royal
90 Infused Spiced Rasberry Gin 92 Canapes - Oysters
Leisure 97 Coming up in Art 99 Dive into the Coral Coast 102 Horses for Courses 113 Brain Challenges
54 Amazing Australian Women Michelle Payne
63 Trends for the Races 66 Bursting with Spring
80 Gone but not forgotten Elizabeth Taylor 8 | Hepburn
Abundance
Ambition
44. Prepare Your Business Strategy for 2022
Passion
Appetence
72. Is it Time to Keep Quiet
Amour Propre
25 Six Ways You can Earn Income from your Home
63. Trends for the Races
18. Conquering Glass Cliffs
Leisure
102. Find your true horse style
Nouvelle Cuisine
88. Spring Inspired Cocktails & Canapes
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Abundance 1. The state or condition of having a copious quantity of something; plentifulness 2. Plentifulness of the good things of life; prosperity 24 | Hepburn
Your Money, Your Wealth, Your Estate Jacqueline Hodges
Six ways to earn income from your home If you are a property owner, you can be almost guaranteed that your personal wealth has grown over the last twelve months. Property prices are trending upwards and economists say that this trend will continue at least for the shortterm. With property prices soaring you might be wondering how you can tap into this wealth. You might wonder If now the right time to sell your property and make the sea change you have dreamed of or to simplydownsize. You might have considered other ways to make money from your property. Short-term accommodation and permanent rentals can yield a nice little profit. So, in this article I will look at some of the various ways you can make money from residential property. We will look at Australia’s biggest tax advantage - sale of the family home, just what is downsizing and how it works, negative gearing versus positive gearing and why positive is always better, permanent rental, short-term accommodation, homestay, and mirorenting.
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1. Selling the Family Home
2. From Empty Nester to Downsizer
It has long been the dream of every Australian to own their own home. Just what is a home? For some a home will be a large family house with a big backyard where the children to play, for some it will be a quiet town house with a peaceful and private courtyard, for some it will be a superb inner city unit where it is all happening, and for others it might be a tiny home and a larger block where they can enjoy an off-grid lifestyle.
When the children have grown up and finally left home and you are finally living by yourself, you may start to feel the empty nest pangs of loneliness in a big empty space. Perhaps you are contemplating selling up and downsizing into a smaller home. If you are 65 years or more, you will be pleased to know that some of that extra cash you will have from the gain on selling you home can be used to top your retirement pool. Provided you meet the eligibility rules, you may be able to make a downsizer contribution into your superannuation of up to $300,000 from the proceeds of selling your home.
If you are thinking about selling your home and given the fantastic values at present, this might be a good option, then you might be in for a tax free gain. Special rules in the Australian tax law apply to the family home, exempting any gain on your home from tax. However, there are conditions. If you have always lived in your home and have never used it for income producing purposes such as renting a room, listing on Airbnb, or run a business from home, then you are in for the full windfall. But if you have used your home to earn income in the past you may need to apportion that gain between income producing and non-income producing periods. You will need to pay tax on the portion that relates to the income producing period. You might ask, What if I have only rented the house out for a short time, while I lived somewhere else? Well, there is another exemption, with provisos. If you leave your home to live in another place that you do not own, and you rent your family home out, as long as you return to the ome wihtin six years and do not buy a new home during that period, you will enjoy the gain you make without having to pay any tax. But this is a complex area, so check with your accountant if you do propose to sell your home!
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If you are over 60 you might want tospeak with your accountant or finanical planner to stay informed about any changes to the law. The good news is that your downsizer contribution will not: • Count towards your contribution caps • Affect your total superannuation balance • Count towards your transfer balance cap • Count towards your non-concessional caps Downsizing is a once only opportunity! A downsizer contribution can only be used once, but if you have a partner you both may be able to make a downsizer contribution provided you both meet the eligibility criteria. This mean a married couple may be able to contribute an extra $600,000 into their superannuation fund.
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Speak with Your Financial Adviser Now these strategies are not for everyone, you might just want your home to remain that, your home for life and that is quite alright. But after reading this article you will have a little more understanding about your option. And if you are thinking for selling or even preparing for your future, please seek professional advice from your tax adviser and your financial adviser.
“The best time to start was yesterday. The next best time is now.”
– Unknown
Jacqueline Hodges is a Chartered Accountant, Registered Tax Agent and SMSF Auditor. She is a Financial Adviser and an authorised representative of Wealth Today. She has a wealth of experience having worked in the financial services sector for most of her career. Jacqueline is a firm believer in continuing education and holds a Bachelor of Commerce (UQ), a Master of Taxation (UM), and a Financial Planning Certificate. She established her own accounting firm servicing individuals and small businesses in 2005 and complemented the business in 2015 with the opening of the financial advice division.
Disc pers natu prof
We with
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claimer: The information contained in this article is general in nature and may not be relevant to your sonal circumstance and needs. Taxation, legal and other matters referred to in this article are of a general ure only and are based on laws existing at the time and should not be relied upon in place of appropriate fessional advice.
recommend that you assess whether the information is appropriate to your needs and if appropriate speak h a financial adviser to discuss your needs, financial situation and investment objectives.
Wealth Pty Ltd as trustee for HQ Wealth (CAR 1238791) and Jacqueline Hodges (AR 1238790) are horised Representatives of Wealth Today Pty Ltd (ABN 62 133 393 263), AFSL 340289. Hepburn Hepburn | | 31 31
Speak to us if you are: Buying or Selling Property Buying or Selling Your Business MAXJRE is all about personalised service, community and helping guide our customers to a solution that builds trust, long term relationships and generates referrals for sustainable growth.
Mobile 0473 207 988 Email andrew@maxjre.com LinkedIn http://linkedin.com/in/andrew-johnson-8435092 Company Maxwell Johnson Real Estate Pty Ltd Address 9 Gracefield Road, Brown Hill, VIC 3350 www.maxjre.com
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Conversations with Andrew Andrew Johnson
Preparing your business for sale It’s exciting, challenging and time consuming to buy a business and run it yourself. Beyond immersing yourself, in the starting and running of your business it’s just as important to plan for the future. Your exit from the business in the future, and preparing your business for sale is an important section of your ongoing business plan and strategy.
Planning and taking the time to prepare for this future event is not only wise, but will provide the best chance for you to realise the best return and sales price for your going concern, no matter when that may be.
We never know what the future may bring, but we can prepare and consider our options beforehand providing a framework and safety net to protect our interests in the future and best position your business for life’s eventualities.
So many business owners may rush into a sale and do not take the time to position themselves for best results, which at a minimum is 12 months beforehand. Being so involved in the business, dealing with the daily running, challenges, obstacles it’s like being too close to the trees to see the forest.
No one wants to be in a position in the future when a fire sale is required or the selling price for your business is not the strongest it could be. For those that start a business and enjoy the adventure at some time in the future there comes a time when it needs to be sold.
So, look at all the requirements needed to sell your business in the future and research all the angles to best position the business for a strong result.
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Section 52 Disclosure Statement A Section 52 which is a disclosure statement that the owner of a small business must provide to a prospective purchaser, and this statement follows the legal requirements set out in Section 52 of the Estate Agents Act 1980 for Victoria. Check your own State in Australia to confirm the local requirements and reach out to a professional and expert for assistance. This statement is required for the sale of a small business in Victoria at a price of up to $450,000. It is usually completed by the seller and their accountant using the form prescribed under the Estate Agents (General, Accounts and Audit) Regulations 2018. The statement is part of the buyer’s due diligence and sets out the financial performance of the business over the last two years. The statement must also provide the financial performance for the current financial year up to the most recent quarter. Beware: If you don’t provide the statement to the buyer, the contract can be voided.
When to Start Many people have a love hate relationship with Tax and the ATO, but when selling your business telling a buyer you make extra income through cash is not something they can generally verify. Engaging an expert and professional accountant for your business and making sure all your income is demonstrated in your tax returns is really beneficial. At least two years before you intend to sell is an ideal planning window in my view, but consider your own thinking on the matter and get professional advice. When you are ready to sell your business, put together an itemised list of everything included in the sale, write in your own words the story of the business and how a new buyer can be successful as you have been. Think about the advice would you offer them with respect to scalability, your customers, suppliers list and how the business has been run.
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Prepare, Position, Organize Prepare, position and organise everything for a successful sale does not happen overnight, make it easier for a buyer to engage with your story and get excited about owning a business that helps them avoid failure and provides a roadmap for the future. Selling your business should provide you with the best return possible for all the hard work and effort you have put into it, and it is in your hands to prepare and position your business for a successful sale for your future.
Andrew is a licensed real estate agent based in Victoria who has enjoyed a long business career in Australia and overseas providing solutions and building a referral business.
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2022 Start with a Strategy Jacqueline Hodges
Making a profit is a mark of your business’ success. You’re riding well, hitting the finish line, supporting your team, and bringing home the gold cup. But are you really successful? Are there elements in your business that are holding the reins back on your business, pulling profits down? Understanding whether your business is successful and really finishing well is determined by reviewing your strategies and objectives. Having strategies is where you start. ButIrina a good leaderisunderstands to Designer Mazalova a qualified Interior and new owner of Line Studio. Irina need to develop strategies. And as weoffers advice and planning for residential anticipate population immunity it is timeand to commercial projects. Her portfolio covers a variety of review your business strategies. styles and colour palettes.
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Yesterday, Today, Tomorrow Your business survives by adapting in a world of constant change and continuous improvement. And the business environment can change unexpectedly. What you did yesterday, may not help your business survive today; think pre-Covid. Today, we have become accustomed to living within the confines of our own home, and shopping online: think living in uncertainty. And what you are doing today may not be profitable tomorrow. What happens next; think herd immunity. As we start to come out of this bubble with population immunity, how will your business change?
After starting The Cocktail Shop as a side-hustle in late 2018, entrepreneur Melissa How had all but given up when it had failed to fire 12 months later. But she found it difficult to give up entirely. After all The Cocktail Shop was her idea, her concept and her baby. Then came Covid-19. Melissa saw an opportunity to grow her idea into a true business and turned her mind to reengineering the marketing strategy. People are creative adaptors who need to socialise. Melissa recognised that virtual happy hours and virtual cocktail parties would become popular during the lockdowns. By May 2020, sales on The Cockail Shop begin to take off. As a result, Melissa saw an opportunity to exploit the ways in which corporates needed to creatively engage with their staff, customers and investors. Sales soared. So much so, that the business has grown from that humble side-hustle to a team of five that is still growing to meet the increasing customer demand. But once we have herd immunity, will that same online sales strategy be viable? Given the business’ reputation and Melissa’s commitment to product quality, customer service, and the relationships formed, those loyal customers will probably remain loyal. However, she may need to consider other sales strategies to continue to grow the business. An experienced and serious business owner, Melissa is already turning her mind to tomorrow and developing new strategies to lay the foundations for the future success of the business.
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7. Collaboration Collaboration can lead to a beautiful partnering for events, improve sales, and even share costs. Look for partners that will fill a gap in your business offering. Find mentors for yourself and the team to expand your business capabilities and the team’s knowledge. Your strategy might be to find the right mentors.
8. Operations You have got to understand the numbers, and the timing of the cash flows. When does the money come in and when does it go out. Establish operational policies, procedure and processes to ensure consistency across the business. Your strategy might be to learn some accounting fundamentals.
9. Innovation Continuous improvement to stay ahead and relevant. When developing your product or service consider how it can be improved in the future and whether it should be scrapped after a certain time. Its no use making parts for X if X no longer exists. Your strategy might be to hold a weekly meeting address continuous improvement.
10. Technology We are all in the cloud today and it is convenient. Focus on using current technology and analyse what’s in the market. The software you use today make not be the best option as the business grows. Develop and understand cybersecurity relevant to your business. Your strategy might be to conduct a six0monthly review on software requirements.
Off course these are broad concepts to get you started. You can drill down on each area to develop strategies that specifically align to your business. Following are some sales strategy examples that may be used to help start the thought processes. • WIIFM Understand the What’s in it for me • Use social media to Increase online sales • Become a thought leader • Offer a product demonstration • Become a storyteller • Start with a small niche • Define the problem and outline the solution • Ask for referrals • Use free trials • Develop an Email Direct Marketing ampaign Do not forget you. As the leader of the business your personal welfare and satisfaction is paramount to the business success. So add yourself to the strategy planning and always ask does this strategy feel right to you? For your business to grow and be successful, you need to be happy. Happy with the business, where it is and where it is going. Finally, be nimble. Remember the old saying “The early bird gets the worm”. Well that is true in business too! While you need a strategy, if you spend too much time developing it, you may lose the opportunity and competitive advantage.
Be ready to pivot for 2022.
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Horses for Courses Spring Racing Carnival season 2021 opens in September and unless you are a jockey is an exciting spectator sport. However, if you are looking for a little more adventure, seek the etiquette of dressage, the thrill of the rodeo, or a simple pleasure ride you’ll enjoy our pick of seven horse riding pursuits.
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In Conversations Hepburn Series
We have an great lineup of Amazing and Aspiring women this year. If you are a business woman with a story to share, please email the editor on submissions@10ellenmedia.com
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About 10Ellen 10 Ellen Media is a privately owned, vibrant and youthful company that includes a portfolio of print and digital content. Based in Ipswich, Queensland, 10 Ellen Media reaches to national and international readers of all life stages. Our work reflects our values of living in total harmony with ourselves and those around us while indulging in pleasures every now and then. We inspire our readers to seize the little moments of joy while working, cooking, traveling, creating, and just being. Our creative teams collaborate with the readers and industry professionals to share their stories, creations, and beautiful ways of living and learning. The readers enjoy access to our work in their preferred channels that include print and digital articles, podcasts, social media groups, and video content. We welcome the experiences of our readers to create a community of like-minded people who share common interests and goals. Our portfolio includes print and digital content inspired by the simple pleasures of life, wellbeing, travel, food, creativity, and community-building.
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