As an award-winning Financial Advisor and Founder of Endurance Financial, Amanda Thompson has, for the past 17 years, specialised in offering strategic financial guidance for individuals and businesses with complex matters requiring more than textbook advice. She’s also qualified three times for the Ironman World Championships, making her both physically and financially fit.
How do you help business owners develop a positive relationship with money?
A positive relationship with money starts with knowing what’s possible. Many of the female business owners I work with don’t know, for example, how and when to start paying themselves a wage. As soon as they do, their relationship with money changes. They see themselves as the valuable contribution they are. I love watching this transformation happen.
What are your tips to becoming “financially fit”?
The name of my business, Endurance Financial, stems from my passion for pushing through challenges, to reap the long term rewards. Whether you’re pushing yourself physically like I do when training for the Ironman World Championships, or pushing yourself in business as a female founder, it’s all about exchanging hard work for rewards. Becoming financially fit is different for everyone. In some cases, this is making additional superannuation contributions. For others, it’s about bank accounts and business structures. The most important thing about financial fitness is running your own race; and never someone else’s.
Why is it important for small businesses to have a financial plan?
Finance equals freedom. You need to know how much money you have, how much you’ll make and what you should be spending it on. Without a plan, businesses are more likely to fail. Fail in the sense of no longer operating. And fail in the sense of limiting the founder’s potential.
Tell us why you take a generational view of financial prosperity.
I see life (and business) as a journey of growth, as you constantly have to be prepared to adapt and evolve. That’s what keeps it interesting! It’s also the reason why business owners need to take a generational view of financial prosperity. Setting yourself up properly today (Yes! This means knowing
your numbers inside and out and ditching the anxiety) will allow you to take care of yourself and those you love in all the years ahead.
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