Your Mindset and Your Money

Written By: - Date published: 1:29 pm, January 18th, 2023 - 48 comments
Categories: class, Economy, poverty, tax - Tags:

According to massive property owner Graeme Fowler, the world view about money New Zealanders have governs our place in society.

Often, the difference between poor people, rich people and middle-class people isn’t how much money they have, or even how much they make. The difference between these people is what they believe is actually the purpose of money.

One of the most significant distinctions between the poor, middle class, and wealthy is their respective mindsets. The way in which each group views the world, their goals and their aspirations can vary greatly, and these differences can have a significant impact on their overall well-being and success.

The poor also often have a scarcity mindset, where they see the world as a place of limited resources and opportunities. This can lead them to believe that their chances of success are slim, and they may feel that they have little control over their lives.

This can lead to feelings of hopelessness and despair, which can prevent them from taking positive steps to improve their situation”.

But then there’s the middle class, apparently.

They see the world as a place of opportunities, but also recognise that there are limits and obstacles that must be overcome. They are more likely to believe that they have some control over their lives and can take steps to improve their situation,” he said.

“However, they may also feel a sense of stagnation, where they may see they are unable to progress or reach their goals.

“The wealthy, on the other hand, tend to have a growth mindset, where they see the world as a place of endless opportunities and resources. They believe that they have the power to shape their own lives and that their success is not limited by external factors. This mindset can lead them to take risks and pursue their goals with confidence. This can contribute to their overall success and prosperity.”

There are so many ways to mock this kind of nonsense, but let’s just start with Maori and go from there.

It is really clear that European ethnicity people in New Zealand own most of the wealth and Maori and Pasifika own the least, by a very, very long distance.

So do Maori have a bad attitude to money? If they just changed their minds about money could Maori just become more wealthy?

It has long been clear that Maori are on the whole one of the most entrepreneurial people not only in New Zealand but also in the world.

It has also long been clear that New Zealand is one of the most entrepreneurial countries in the world, and has been measured as the easiest to do business in the world.

Our collective mindset about making wealth are on those very concrete measures just fine.

The reality is that in New Zealand you are in the top 10% of wealth if you own a couple of houses, or a whole bunch if you are Mr Fowler.

The top 20% of New Zealand households hold about 69% of New Zealand’s net worth. Europeans as of the last Stats NZ release last year had an individual median net worth at $151,000 and Maori on the same measure $42,000.

That’s why the primary commentary in the Stuff article came from a European guy who owned lots of houses.

Can this degree of inequality be overcome by changing one’s attitude to money?

Perhaps changing one’s attitude to money could also increase one’s chances of making better choices putting items into your charity food parcel.

Or maybe by changing your “money personality” you can make a cornucopia of cash flow into the hands of those lying on our city streets begging.

Which “money personality” demands that over 7% of New Zealander works more than one job?

Liz Koh the money coach believes there is a money personality just for you:

The two key determinants of your money personality are your willingness to take risk and your desire to create wealth. Those who are highly successful at wealth creation are not afraid of risk and have a strong desire to create wealth.”

That’s from the same Stuff article where she agrees with Graeme Fowler the property magnate.

So to summarise, New Zealanders are globally exceptionally entrepreneurial and hard working as a people, are the easiest country in the world to do business, and yet for Mr Fowler the property magnate apparently our “attitude to wealth” and our “money personality” is keeping New Zealand’s poor very poor and the rich very very rich.

New Zealand’s reality, as small state specialist Dr David Skilling reminds us, is one of the smallest, weakest, most distant and least important countries in the world.

Our inventions are agricultural, our thinkers have few followers, our political order and influence miniscule, our corporations don’t grow and conquer. That’s the true “mindset” to address for those property owners who hoard and then preach facile morality.

New Zealand has one of the most unequal economies in the world, its economy reliant on low-value agriculture and real estate and low value tourism. New Zealand’s industries are controlled by a very small set of oligopolies in milk, horticulture, building products, fuel, seafood, ports and airports, shipping, supermarkets, and so much more. The concentration of wealth in New Zealand now is about the same as that of Regency England of the time of Jane Austen. There are pretty sound “money languages” for all of that, none of which are described by Mr Fowler.

The total number of people who control our wealth could fit into the Paeroa Horse Racing stands with several rows left over.

Actual class and economic mobility is decreasing in New Zealand, and it’s under study.

Inequality in wealth in New Zealand is not caused by a ‘mindset’.

They are not going to be cured by changing one’s ‘money personality’.

Though it is quite likely if you are rich enough and stupid enough your mindset and your personality will tell you how much you deserved it no matter what you did.

The people like Graeme Fowler claiming that they are, are simply cynical entitled assholes.

48 comments on “Your Mindset and Your Money ”

  • Comments are now closed

  1. Drowsy M. Kram 1
    18 January 2023 at 2:09 pm

    Thanks for an eye-opening post – it's good that nice Mr Fowler has such laudable goals.

    Assuming all Kiwis want and are to be 'wealthy', where does Fowler imagine the extra 45+ plates, or the tens of millions of rental properties, are going to come from?


    https://thespinoff.co.nz/society/16-08-2022/the-side-eyes-two-new-zealands-the-table

  2. SPC 2
    18 January 2023 at 2:35 pm

    I am not surprised to see such an apologetic, given we have rebuilt the class system down under.

    More people now own their homes in the UK than in New Zealand, and while the rate is rising there, it is still falling here.

  3. bwaghorn 3
    18 January 2023 at 3:06 pm

    I think instead of rubbishong the guy and pulling out the poor Maori card, pick through it for the obvious lessons , educating students on money and finance would help.

    Mindste is part of it, I've missed a couple of opportunities because fear took over, and failed miserable financially due to not being taught basic money sense.

    Thank God for Saint cullens kiwisaver as in 10 years it got me to halfway of the average Joe's wealth.

    • Jimmy 3.1
      18 January 2023 at 4:18 pm

      I definitely think educating school children about money / difference between debit and credit cards and best ways to use them/ budgeting / mortgages / Kiwi saver etc. should be compulsory at school. That way when they go out in to the world they at least have a basic understanding of finance.

    • BAW 3.2
      19 January 2023 at 12:29 pm

      Nat voter here.

      Kiwisaver was the best policy of the 5th Labour Government.

      My wishlist to Labour – change the minimum wage laws so all workers get a payment to Kiwisaver.

      • bwaghorn 3.2.1
        20 January 2023 at 1:29 pm

        Have you ever noticed it usually the left that makes things better,the right being conservative hate it until it sinks in .

  4. tsmithfield 4
    18 January 2023 at 3:18 pm

    A friend of mine (who died a few years back) had made himself extremely wealthy largely through mindset. I will explain how at the end of this post.

    He had a goal to be retired by the age of 30, which he achieved. His definition of retirement was, that retirement means you work because you want to work, not because you have to work.

    He had started doing a computer degree at Uni after leaving school in his teens, but at the same time was working full-time at the freezing works, using notes from friends to do the Uni work (he was extremely bright).

    He built up enough deposit to purchase his first commercial property a year or two later, and then geared up on the existing property to purchase another as the tenant paid off the loan, and the value of the property increased.

    At the time of his death, I think he owned around 10 commercial properties that were paid off. So, he had huge amounts of rent rolling in to his bank account. Plus he had done very well on the share market.

    The sad thing is, he never really enjoyed his wealth. It was almost like he had a mental sickness. For instance, he would walk down to the library to read the paper rather than purchase one, still had his Datsun 120y which he had purchased new back in the 70s, and which he ended up deregistering because he thought he could just bus everywhere. And, he used to wear old jerseys with torn sleaves etc.

    The outward appearance was that he was a bit of a hobo, when in fact he was worth millions.

    When he developed symptoms of his illness, which turned out to be liver cancer, his doctor could have offered him a test that would have uncovered the issue much earlier. But, the doctor didn't offer it because he assumed my friend wouldn't be able to afford it. He was very bitter about that up until the time of his death about 10 years ago.

    The mindset part of how he got wealthy was:

    • He started with a clear vision of where he wanted to get to.
    • He was prepared to do what was necessary to reach his goals.
    • He didn't waste his money on unproductive things.

    He also thought anyone should be able to do what he did. However, I don't think everyone would be willing to live his lifestyle.

    • Jimmy 4.1
      18 January 2023 at 4:06 pm

      Smart man did well for himself. Sad that he did not get to enjoy the fruits of his labor. I can admire a person like that who sets goals and plans to achieve them and takes the initial risk.

      • tsmithfield 4.1.1
        18 January 2023 at 4:55 pm

        Yep, even when he was dying he didn't do anything with his wealth.

        For him, making money was more like a game. He got pleasure from making the money rather than spending it.

    • solkta 4.2
      18 January 2023 at 4:28 pm

      So from savings after living costs from three years working in a freezing works plus a year or two of what ever he did after that he saved enough for a deposit on a commercial property? I call bullshit on that. Did you leave out some of the story?

      • tsmithfield 4.2.1
        18 January 2023 at 4:46 pm

        No. The deposit required back then was only about 10%. It would be much harder to do that with commercial property these days because the banks want about 40% now, mainly due to banks losing money on commercial property due to a sharemarket crash or two in between times.

        But, it would be more doable with residential property.

        And he started with a fairly average property.

        And, as you can see from my first post, he wasn’t prone to spending much money.

        He much preferred commercial property though because the yeild tended to be better, and costs such as rates and insurance are covered by the tenant.

        • solkta 4.2.1.1
          18 January 2023 at 5:10 pm

          I still call bullshit. Did you leave out living at home with wealthy parents? Help with the deposit?

          • tsmithfield 4.2.1.1.1
            18 January 2023 at 5:17 pm

            His parents were average. We all lived in the same town in Rangiora back then. So, I knew them fairly well.

            He was just highly motivated. II don't know if he was paying board to his parents or not.

            But, the Freezing works did pay quite well back then, and I think he paid about $120k for the property. So, at 10% deposit on that would have been about $12k saved over three years.

            I often used to drive past him as he was biking from Rangiora to Kaiapoi each days (probably around 15ks). So, he definitely wasn't spending much of his money.

        • Descendant Of Smith 4.2.1.2
          18 January 2023 at 5:15 pm

          Unless he had a family back then he may not have been able to get residential mortgage. Commercial in fact have been his only option.

  6. Tony Parker 6
    18 January 2023 at 4:23 pm

    I think this response from Emily Writes sums it up.

  7. gsays 7
    18 January 2023 at 4:30 pm

    Mindset, a wonderful euphemism for feeling guilt free for having a bigger share of the pie when others will have to make-do with less.

  8. tsmithfield 8
    18 January 2023 at 5:00 pm

    Rich people who live poor, as I described my friend above, are not particularly unusual.

    A lot of these people get rich by being wise and frugal with their money. I think it can end up becoming a life habit for them, despite the wealth.

  9. Descendant Of Smith 9
    18 January 2023 at 5:12 pm

    You can argue it is true to a small extent. I certainly could have been very wealthy if I had wanted to through generous offers of property in the 80's from neighbours and friends who were selling up. However philosophically I'm committed to the notion that you only need one house to live in and that I will never live off the efforts of someone else's labour through rent and I declined all those offers – and some were very generous.

    So yep that is a mindset.

    I could be earning a lot more, and in fact have done, if I hadn't stood up to injustice in various workplaces that resulted in non-promotion, dismissal and demotion. That is a mindset. Or I could have not had kids, or not wasted my hours playing cricket and rugby, or not get married and so on. Doing those things are too a matter of choice and mindset.

    What he says is a simple truism that is almost sociopathic in nature and conveniently ignores a lot of reality as well.

    I have family members who have done and could be earning a lot more now if they hadn't been raped by men and had to spend – and are spending years in recovering both physically and mentally. Same goes for those that have had serious accidents. I have very well off family who have had seven inheritances including from spinster and war-widowed aunts. I have family who were dispossessed of their land by the state and others who were institutionalised. I have some that were born in isolated areas with few jobs and others born in productive urban areas and others who were left to raise young families after their husbands were killed in car accidents..

    Equally brains are clearly different – some of us are good at maths and language – others struggle with it but can pull a car engine apart and put it back together. Others have intellectual disabilities and mental health issues..

    The reality of peoples lives has had a much greater impact on who in my family is wealthy and who is not compared to the miniscule influence of mindset.

    This without even considering more strongly genetics vs nurture and structural societal systems favouring predominantly white males (past and present).

  10. barry 10
    18 January 2023 at 5:48 pm

    So a rich guy notices, that one's attitude to money is influenced by how much or little of it one has.

    If you have nothing then money is purely a means of getting the necessary for survival.

    If you have enough you might think about saving for retirement.

    If you are rich then naturally money is something you invest.

  11. pat 11
    18 January 2023 at 5:57 pm

    Success to the successful…nothing new there….and nothing permanent either

    • Descendant Of Smith 11.1
      18 January 2023 at 6:09 pm

      Is having lots of money the measure of success?

      • pat 11.1.1
        18 January 2023 at 6:53 pm

        In our current paradigm, yes….whether we agree with the measure or not.

        And we are all inclined to it….we dont deliberately buy products we know are inferior, nor do we engage services we know are substandard….at least we dont after the initial mistake.

        • Descendant Of Smith 11.1.1.1
          18 January 2023 at 7:26 pm

          Most don't have those choices and the market well knows it can make more money off selling inferior product to poor people than it can selling quality product. Many people every day buy inferior goods because it is all than can afford – and well they know it.

          Terry Pratchett's boots theory sums this up perfectly.

          The "boots theory" comes from a simple piece of dialogue in Pratchett’s 1993 novel "Men at Arms." The book features a City Watch commander named Capt. Samuel Vimes. The captain is set to marry one of the richest women in the world, and he often opines about the differences between low-status and high-status spending habits.

          At one point in the story, the captain ruminates:

          The reason that the rich were so rich…was because they managed to spend less money.

          In reference to the captain, the quote continues:

          "Take boots, for example. He earned $38 a month plus allowances. A really good pair of leather boots cost $50. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about $10.

          "Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.

          "But the thing was that good boots lasted for years and years. A man who could afford $50 had a pair of boots that'd still be keeping his feet dry in 10 years' time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet."

          This was Capt. Samuel Vimes' boots theory of socioeconomic unfairness.

          .

        • pat 11.1.1.2
          18 January 2023 at 10:21 pm

          Conversely "boots theory" proves the opposite….the quality goods are not successful (due in the given instance, to price) and therefore do not proliferate.

          The fact they are perceived as unaffordable is the failure….aka unsuccessful,

          • Descendant Of Smith 11.1.1.2.1
            19 January 2023 at 9:29 am

            Yeah because a free and balanced consumer informed supply and demand market rather than conscious deliberate maximum profit making seeking strategy drives pricing.

            • pat 11.1.1.2.1.1
              19 January 2023 at 9:37 am

              AKA economies of scale.

              • Descendant Of Smith …
                19 January 2023 at 1:22 pm

                lol.

                You know I was referring to this sort of behaviour.

                "Think about pricing. What has every telco in the world done in the past? It's used confusion as its chief marketing tool. And that's fine," said Gattung in a speech recorded on March 20.

                "You could argue that that's how all of us keep calling prices up and get those revenues, high-margin businesses, keep them going for a lot longer than would have been the case.

                "But at some level, whether they consciously articulate or not, customers know that's what the game has been. They know we're not being straight up."

      • tsmithfield 11.1.2
        18 January 2023 at 8:10 pm

        “Is having lots of money the measure of success?”

        I don't think it is the greatest measure of success at all. Wealth is obviously a measure of financial success. But I don't think that is the most important thing in life at all.

        I think the greatest measure of success is how people do in their relationships, how they bring up their children, and what they can input into the lives of others.

        If wealth comes with that, then great. And some people do seem to be gifted in accumulating wealth.

  12. Mike the Lefty 12
    18 January 2023 at 6:27 pm

    My Dad always used to say: "You can't make an honest million".

    Allow for inflation and you could say: "You can't make an honest billion".

    He was right.

    People don't get rich from working hard.

    They get rich by ripping off other people but of course they always deny that they do that.

  13. tWiggle 13
    18 January 2023 at 7:03 pm

    When I was a teenager in Wellie in the 70s, Bob Jones was considered a bit of a cheat as an entrepreneur, as he did nothing concrete or creative to make his pile. He established no factories and opened no new export opportunities, created no new jobs. He just sat on his bum planning his speculation portfolio.

    Somehow since then, speculation has become confused with entrepreneurship. Land speculation sucks capital away from truly entrepreneurial companies and drives rent and land inflation. A loss for creative companies, a loss for the country and a loss for us. Fowler and Bob Jones are no capitalist heroes, just scrooges.

    [Please use the correct e-mail address in your next comment, thanks – Incognito]

  14. tsmithfield 14
    18 January 2023 at 7:27 pm

    People often think that wealthy people have some huge starting advantage over others, such as inherited wealth or whatever.

    However, I think the reason for the mindset suggestion from the rich guy mentioned in the article, is that this often isn't the case.

    I have already pointed out my friend who built up a deposit for his first commercial building by working in the freezing works for three years after leaving school.

    Now I want to talk about one of my sons.

    My son left school quite early as that didn't really suit him. He worked in several jobs, and ended up working for a powder coating firm.

    The guy who was running the business was hopeless at business and should probably have never been a businessman. My son had a number of good ideas that would have helped the guy succeed. But his problem was that he was too far gone at that point, and ended up going bankrupt.

    Another guy had a lease to buy arrangement over the equipment of the business. He could see my son (19 at the time) had some good clues, and was a good worker. So, he offered my son to take over the finance arrangement on the equipment.

    We also knew our son had a lot of great qualities. So, we helped him out with $20k for working capital. Not nearly enough. But, anyway, he launched out in his own business at the age of 19.

    He had a couple of really hard years where he wondered if he was going to make it. But, now, 10 years on, he has an incredibly profitable business, around $750k sitting in his company bank account, is debt free, and a house in a new subdivision.

    One key to his success is that he realised that price wasn't the critical factor in that type of business. The powder coating cost is normally a small fraction of the cost for a customer. Customers tend to be much more concerned that the powder doesn't flake off, and that they can get their work back when they need it.

    So, my son focussed on job quality, and him and his team occasionally worked through the night to get an order out for a customer.

    Now he has major difficulty fitting in all the work. He is taking over the lease on the next door building and is expanding. He pays his staff incredibly well for the industry they are in, and pays them large end of year bonuses.

    In my son's case, admittedly, he did have a small amount of help from us. But, key to his success was a bit of luck, vision, determination and stickability, and a strong focus on customer satisfaction.

    • Muttonbird 14.1
      18 January 2023 at 7:43 pm

      Your whole comment falls to pieces after claiming success is not dependent on starting advantage, then admitting you did provide starting advantage.

      What seems a small amount of help to you is not possible for most of the population, both in terms of "inherited wealth or whatever", and the ability to recognise an opportunity.

      This is an issue of self awareness on your part and the rest is simply virtue signalling. I think awareness is one of the main qualities right wing people seriously lack.

      • tsmithfield 14.1.1
        18 January 2023 at 7:56 pm

        But it wasn't the determining factor of his success. Perhaps he would have found another way if we hadn't helped. Its not like we gave him millions or anything. Most of the success was down to him.

        And, as far as I know, my friend who built up a large property portfolio didn’t have help from anyone.

        I don't think that this sort of outcome is possible for everyone. Some people have so much dysfunction in their lives that it is a major inhibition to their success. Other people just don't have such an opportunity fall in their laps, and others are too cautious to take up the opportunity if it does come along.

        But I think it is a valid point that it is a lot more to financial success than inherited wealth or whatever. People who start off like that tend to be arseholes, and are often likely to lose it all because they have never had to work for it.

        • roblogic 14.1.1.1
          19 January 2023 at 12:47 pm

          The are other forms of advantage – like a supportive family, good health, socialised in good values, being white, social networks, success in relationships, security from thieves

          • tsmithfield 14.1.1.1.1
            19 January 2023 at 12:58 pm

            You are assuming being white… but that is true.

            As I pointed out below though, people achieve in lots of areas by overcoming all sorts of obstacles, including not being able to read or write as I pointed out below.

            Sure, it is hard, and probably a lot more fail than succeed. But, I guess the point I am trying to make is that we shouldn't place limits on people and end up holding them captive to their disadvantages.

            There is a balance to be struck between that and supporting people in their difficulties.

  15. Sanctuary 15
    19 January 2023 at 8:13 am

    The only thing I would observe is that in my opinion it is a bit of a myth that New Zealand is one of the most entrepreneurial countries in the world. Our regulatory environment might support this view but the reality is most New Zealanders would see Graeme Fowler as the type of "entrepreneur" they would wish to emulate.

    The chief aim of NZ settler capitalism is to be a rent seeker and speculator, make your fortune, then retire to wherever suits your tastes within the rich world to enjoy your rentier income in the style of the absentee landlord and vulgar nouveau aristocratic class everywhere.

    Certainly, going to bank in NZ and asking for an unsecured loan for an idea you have would more likely see the bank calling security to escort you from the premises than them giving you the loan.

    It is a colonial mindset we simply haven't yet escaped in this country – extract wealth, retire to the mother country. Graeme Fowler is an absolute poster child for this new class of parasitic, rent seeking wannabe aristocrats that was spawned by neoliberalism.

  16. Jenny are we there yet 16
    19 January 2023 at 8:26 am

    Man with 80 houses: Capital Gains Tax will hurt renters

    Cos’ he has the mindset and the ‘personality’ and all the power.

    He will make sure it will.

    Bring back the Anti-Eviction League. Get some power back

    https://paperspast.natlib.govt.nz/newspapers/THD19311015.2.78

    • Jenny are we there yet 16.1
      19 January 2023 at 7:30 pm

      EVICTION RESISTANCE – refusing to leave the home when the landlord ends the tenancy – is a strategy used by tenants worldwide both to enable them to keep their housing in the short or long term and to send a message to policymakers about the importance of improving rental conditions. This article chronicles and analyses eviction resistance during the Depression in New Zealand. Eviction resistance ranged from crowds that gathered to support evicted people to carefully organized pickets……

      https://lhp.org.nz/wp-content/uploads/2022/07/03_Chisholm-Article.pdf

      "…..to send a message to policymakers about the importance of improving rental conditions."

      And send a message they did.

  17. Mike the Lefty 17
    19 January 2023 at 9:55 am

    Graham Fowler's mindset is that there is nothing more important than money.

    Sad!

  18. tsmithfield 18
    19 January 2023 at 10:11 am

    Another example is one of our clients who we used to build Sphagnum Moss Packing machines for a number of years ago, Les Sutton. I understand he has died now.

    Les owned his company, and was very proud of the fact that he had made himself rich despite being unable to read or write. He overcame this limitation by employing people who could compensate for his weaknesses.

    This is another example that shows that mindset is a big factor in whether people can achieve financially or in any area. Sometimes people with many serious disadvantages that could undermine their self-belief can actually achieve far higher than what many would expect.

    I am giving these examples as an encouragement more than anything else. Not just in the financial aspect, but for any area people are wanting to achieve in.

    That is, that people shouldn't just accept the die is cast for them, and they have no hope of achieving. People often can achieve a lot more than they think.

  19. Scott 19
    20 January 2023 at 3:55 pm

    I do think that attitude is important to success.

    My father taught me and my brothers to set goal for each area of our lives.

    The best money advice he gave was to say that we had two options

    1) We could trade our time for money, or

    2)We could trade money for time

    • KJT 19.1
      20 January 2023 at 4:25 pm

      True to an extent.

      But the reason most of those who are poor, remain poor is they have neither money, nor time available.

      And for those that have there is still a huge element of luck, unless they have had the, also lucky, benefit of inheriting enough money to have several attempts at a successful business, or to simply collect economic rents.

      Do you think the more than 4 out of 5 attempts at entrepreneurship that fail, are all because they "have the wrong mindset"?

      • Scott 19.1.1
        20 January 2023 at 6:01 pm

        I think that businesses fail through inexperience and a lack of knowledge most often.

        The mindset is to give it a go. Always very positive initially.

        You don't always win but you always learn.

        Most entrepreneurs have failures- I certainly have. But the key is to have a plan and not allow failure to destroy you so you can bounce back.

        • KJT 19.1.1.1
          21 January 2023 at 8:53 pm

          Most people do not have the money or resources to bounce back.

          I did several times. But I was lucky enough to have a good combination of various highly in demand skill sets, courtesy of 1970's education and apprenticeship systems, even though I didn't have much money capital behind me.

          I see the the lack of resources, jobs and training, , available to people of moderate to low incomes more recently, and the miserly benefits and the forcing of people into the first low hours, low paid job available. I am not surprised that "bouncing back" is totally out of their reach.

          • Scott 19.1.1.1.1
            24 January 2023 at 12:17 pm

            Yes agree that many people whose plan fails bet the farm and can't try again.

            I have helped (mainly) young people begin over 100 small businesses over the last 30 years and loved it. Many had little education and no financial resource. Some were on the Police diversion scheme.

            I've learned that capitalism does not necessarily require capital

            Some of those businesses have grown into substantial operations.

            My advice to most young people is to get a job in a mid size company and learn how a business works. A couple of promotions and you get to make mistakes with someone elses money.

            Then develop a plan. Test and measure as much as possible.

            Begin slowly and try to keep your paid job for as long as possible.

            Most people thrive in the process of starting, running and growing their own business. The beginning is often the most stressful period and some choose to go back to working for someone else – which is fine.

Recent Comments

Recent Posts

  • PM announces changes to portfolios
    Paul Goldsmith will take on responsibility for the Media and Communications portfolio, while Louise Upston will pick up the Disability Issues portfolio, Prime Minister Christopher Luxon announced today. “Our Government is relentlessly focused on getting New Zealand back on track. As issues change in prominence, I plan to adjust Ministerial ...
    BeehiveBy beehive.govt.nz
    8 hours ago

  • New catch limits for unique fishery areas
    Recreational catch limits will be reduced in areas of Fiordland and the Chatham Islands to help keep those fisheries healthy and sustainable, Oceans and Fisheries Minister Shane Jones says. The lower recreational daily catch limits for a range of finfish and shellfish species caught in the Fiordland Marine Area and ...
    BeehiveBy beehive.govt.nz
    11 hours ago

  • Minister welcomes hydrogen milestone
    Energy Minister Simeon Brown has welcomed an important milestone in New Zealand’s hydrogen future, with the opening of the country’s first network of hydrogen refuelling stations in Wiri. “I want to congratulate the team at Hiringa Energy and its partners K one W one (K1W1), Mitsui & Co New Zealand ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Urgent changes to system through first RMA Amendment Bill
    The coalition Government is delivering on its commitment to improve resource management laws and give greater certainty to consent applicants, with a Bill to amend the Resource Management Act (RMA) expected to be introduced to Parliament next month. RMA Reform Minister Chris Bishop has today outlined the first RMA Amendment ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Overseas decommissioning models considered
    Overseas models for regulating the oil and gas sector, including their decommissioning regimes, are being carefully scrutinised as a potential template for New Zealand’s own sector, Resources Minister Shane Jones says. The Coalition Government is focused on rebuilding investor confidence in New Zealand’s energy sector as it looks to strengthen ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Release of North Island Severe Weather Event Inquiry
    Emergency Management and Recovery Minister Mark Mitchell has today released the Report of the Government Inquiry into the response to the North Island Severe Weather Events. “The report shows that New Zealand’s emergency management system is not fit-for-purpose and there are some significant gaps we need to address,” Mr Mitchell ...
    BeehiveBy beehive.govt.nz
    1 day ago

  • Justice Minister to attend Human Rights Council
    Justice Minister Paul Goldsmith is today travelling to Europe where he’ll update the United Nations Human Rights Council on the Government’s work to restore law and order.  “Attending the Universal Periodic Review in Geneva provides us with an opportunity to present New Zealand’s human rights progress, priorities, and challenges, while ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Patterson reopens world’s largest wool scouring facility
    Associate Agriculture Minister, Mark Patterson, formally reopened the world’s largest wool processing facility today in Awatoto, Napier, following a $50 million rebuild and refurbishment project. “The reopening of this facility will significantly lift the economic opportunities available to New Zealand’s wool sector, which already accounts for 20 per cent of ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Speech to the Southland Otago Regional Engineering Collective Summit, 18 April 2024
    Hon Andrew Bayly, Minister for Small Business and Manufacturing  At the Southland Otago Regional Engineering Collective (SOREC) Summit, 18 April, Dunedin    Ngā mihi nui, Ko Andrew Bayly aho, Ko Whanganui aho    Good Afternoon and thank you for inviting me to open your summit today.    I am delighted ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Government to introduce revised Three Strikes law
    The Government is delivering on its commitment to bring back the Three Strikes legislation, Associate Justice Minister Nicole McKee announced today. “Our Government is committed to restoring law and order and enforcing appropriate consequences on criminals. We are making it clear that repeat serious violent or sexual offending is not ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • New diplomatic appointments
    Foreign Minister Winston Peters has today announced four new diplomatic appointments for New Zealand’s overseas missions.   “Our diplomats have a vital role in maintaining and protecting New Zealand’s interests around the world,” Mr Peters says.    “I am pleased to announce the appointment of these senior diplomats from the ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Humanitarian support for Ethiopia and Somalia
    New Zealand is contributing NZ$7 million to support communities affected by severe food insecurity and other urgent humanitarian needs in Ethiopia and Somalia, Foreign Minister Rt Hon Winston Peters announced today.   “Over 21 million people are in need of humanitarian assistance across Ethiopia, with a further 6.9 million people ...
    BeehiveBy beehive.govt.nz
    2 days ago

  • Arts Minister congratulates Mataaho Collective
    Minister for Arts, Culture and Heritage Paul Goldsmith is congratulating Mataaho Collective for winning the Golden Lion for best participant in the main exhibition at the Venice Biennale. "Congratulations to the Mataaho Collective for winning one of the world's most prestigious art prizes at the Venice Biennale.  “It is good ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Supporting better financial outcomes for Kiwis
    The Government is reforming financial services to improve access to home loans and other lending, and strengthen customer protections, Commerce and Consumer Affairs Minister Andrew Bayly and Housing Minister Chris Bishop announced today. “Our coalition Government is committed to rebuilding the economy and making life simpler by cutting red tape. We are ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • Trade relationship with China remains strong
    “China remains a strong commercial opportunity for Kiwi exporters as Chinese businesses and consumers continue to value our high-quality safe produce,” Trade and Agriculture Minister Todd McClay says.   Mr McClay has returned to New Zealand following visits to Beijing, Harbin and Shanghai where he met ministers, governors and mayors and engaged in trade and agricultural events with the New ...
    BeehiveBy beehive.govt.nz
    3 days ago

  • PM’s South East Asia mission does the business
    Prime Minister Christopher Luxon has completed a successful trip to Singapore, Thailand and the Philippines, deepening relationships and capitalising on opportunities. Mr Luxon was accompanied by a business delegation and says the choice of countries represents the priority the New Zealand Government places on South East Asia, and our relationships in ...
    BeehiveBy beehive.govt.nz
    4 days ago

  • $41m to support clean energy in South East Asia
    New Zealand is demonstrating its commitment to reducing global greenhouse emissions, and supporting clean energy transition in South East Asia, through a contribution of NZ$41 million (US$25 million) in climate finance to the Asian Development Bank (ADB)-led Energy Transition Mechanism (ETM). Prime Minister Christopher Luxon and Climate Change Minister Simon Watts announced ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Minister releases Fast-track stakeholder list
    The Government is today releasing a list of organisations who received letters about the Fast-track applications process, says RMA Reform Minister Chris Bishop. “Recently Ministers and agencies have received a series of OIA requests for a list of organisations to whom I wrote with information on applying to have a ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Judicial appointments announced
    Attorney-General Judith Collins today announced the appointment of Wellington Barrister David Jonathan Boldt as a Judge of the High Court, and the Honourable Justice Matthew Palmer as a Judge of the Court of Appeal. Justice Boldt graduated with an LLB from Victoria University of Wellington in 1990, and also holds ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Education Minister heads to major teaching summit in Singapore
    Education Minister Erica Stanford will lead the New Zealand delegation at the 2024 International Summit on the Teaching Profession (ISTP) held in Singapore. The delegation includes representatives from the Post Primary Teachers’ Association (PPTA) Te Wehengarua and the New Zealand Educational Institute (NZEI) Te Riu Roa.  The summit is co-hosted ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Value of stopbank project proven during cyclone
    A stopbank upgrade project in Tairawhiti partly funded by the Government has increased flood resilience for around 7000ha of residential and horticultural land so far, Regional Development Minister Shane Jones says. Mr Jones today attended a dawn service in Gisborne to mark the end of the first stage of the ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Anzac commemorations, Türkiye relationship focus of visit
    Foreign Affairs Minister Winston Peters will represent the Government at Anzac Day commemorations on the Gallipoli Peninsula next week and engage with senior representatives of the Turkish government in Istanbul.    “The Gallipoli campaign is a defining event in our history. It will be a privilege to share the occasion ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Minister to Europe for OECD meeting, Anzac Day
    Science, Innovation and Technology and Defence Minister Judith Collins will next week attend the OECD Science and Technology Ministerial conference in Paris and Anzac Day commemorations in Belgium. “Science, innovation and technology have a major role to play in rebuilding our economy and achieving better health, environmental and social outcomes ...
    BeehiveBy beehive.govt.nz
    5 days ago

  • Comprehensive Partnership the goal for NZ and the Philippines
    Prime Minister Christopher Luxon held a bilateral meeting today with the President of the Philippines, Ferdinand Marcos Jr.  The Prime Minister was accompanied by MP Paulo Garcia, the first Filipino to be elected to a legislature outside the Philippines. During today’s meeting, Prime Minister Luxon and President Marcos Jr discussed opportunities to ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Government commits $20m to Westport flood protection
    The Government has announced that $20 million in funding will be made available to Westport to fund much needed flood protection around the town. This measure will significantly improve the resilience of the community, says Local Government Minister Simeon Brown. “The Westport community has already been allocated almost $3 million ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Taupō takes pole position
    The Government is proud to support the first ever Repco Supercars Championship event in Taupō as up to 70,000 motorsport fans attend the Taupō International Motorsport Park this weekend, says Economic Development Minister Melissa Lee. “Anticipation for the ITM Taupō Super400 is huge, with tickets and accommodation selling out weeks ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Cost of living support for low-income homeowners
    Local Government Minister Simeon Brown has announced an increase to the Rates Rebate Scheme, putting money back into the pockets of low-income homeowners.  “The coalition Government is committed to bringing down the cost of living for New Zealanders. That includes targeted support for those Kiwis who are doing things tough, such ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Government backing mussel spat project
    The Coalition Government is investing in a project to boost survival rates of New Zealand mussels and grow the industry, Oceans and Fisheries Minister Shane Jones has announced. “This project seeks to increase the resilience of our mussels and significantly boost the sector’s productivity,” Mr Jones says. “The project - ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Government focused on getting people into work
    Benefit figures released today underscore the importance of the Government’s plan to rebuild the economy and have 50,000 fewer people on Jobseeker Support, Social Development and Employment Minister Louise Upston says. “Benefit numbers are still significantly higher than when National was last in government, when there was about 70,000 fewer ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Clean energy key driver to reducing emissions
    The Government’s commitment to doubling New Zealand’s renewable energy capacity is backed by new data showing that clean energy has helped the country reach its lowest annual gross emissions since 1999, Climate Change Minister Simon Watts says. New Zealand’s latest Greenhouse Gas Inventory (1990-2022) published today, shows gross emissions fell ...
    BeehiveBy beehive.govt.nz
    6 days ago

  • Earthquake-prone buildings review brought forward
    The Government is bringing the earthquake-prone building review forward, with work to start immediately, and extending the deadline for remediations by four years, Building and Construction Minister Chris Penk says. “Our Government is focused on rebuilding the economy. A key part of our plan is to cut red tape that ...
    BeehiveBy beehive.govt.nz
    7 days ago

  • Thailand and NZ to agree to Strategic Partnership
    Prime Minister Christopher Luxon and his Thai counterpart, Prime Minister Srettha Thavisin, have today agreed that New Zealand and the Kingdom of Thailand will upgrade the bilateral relationship to a Strategic Partnership by 2026. “New Zealand and Thailand have a lot to offer each other. We have a strong mutual desire to build ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Government consults on extending coastal permits for ports
    RMA Reform Minister Chris Bishop and Transport Minister Simeon Brown have today announced the Coalition Government’s intention to extend port coastal permits for a further 20 years, providing port operators with certainty to continue their operations. “The introduction of the Resource Management Act in 1991 required ports to obtain coastal ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Inflation coming down, but more work to do
    Today’s announcement that inflation is down to 4 per cent is encouraging news for Kiwis, but there is more work to be done - underlining the importance of the Government’s plan to get the economy back on track, acting Finance Minister Chris Bishop says. “Inflation is now at 4 per ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • School attendance restored as a priority in health advice
    Refreshed health guidance released today will help parents and schools make informed decisions about whether their child needs to be in school, addressing one of the key issues affecting school attendance, says Associate Education Minister David Seymour. In recent years, consistently across all school terms, short-term illness or medical reasons ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Unnecessary bureaucracy cut in oceans sector
    Oceans and Fisheries Minister Shane Jones is streamlining high-level oceans management while maintaining a focus on supporting the sector’s role in the export-led recovery of the economy. “I am working to realise the untapped potential of our fishing and aquaculture sector. To achieve that we need to be smarter with ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Patterson promoting NZ’s wool sector at International Congress
    Associate Agriculture Minister Mark Patterson is speaking at the International Wool Textile Organisation Congress in Adelaide, promoting New Zealand wool, and outlining the coalition Government’s support for the revitalisation the sector.    "New Zealand’s wool exports reached $400 million in the year to 30 June 2023, and the coalition Government ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • Removing red tape to help early learners thrive
    The Government is making legislative changes to make it easier for new early learning services to be established, and for existing services to operate, Associate Education Minister David Seymour says. The changes involve repealing the network approval provisions that apply when someone wants to establish a new early learning service, ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • RMA changes to cut coal mining consent red tape
    Changes to the Resource Management Act will align consenting for coal mining to other forms of mining to reduce barriers that are holding back economic development, Resources Minister Shane Jones says. “The inconsistent treatment of coal mining compared with other extractive activities is burdensome red tape that fails to acknowledge ...
    BeehiveBy beehive.govt.nz
    1 week ago

  • McClay reaffirms strong NZ-China trade relationship
    Trade, Agriculture and Forestry Minister Todd McClay has concluded productive discussions with ministerial counterparts in Beijing today, in support of the New Zealand-China trade and economic relationship. “My meeting with Commerce Minister Wang Wentao reaffirmed the complementary nature of the bilateral trade relationship, with our Free Trade Agreement at its ...
    BeehiveBy beehive.govt.nz
    1 week ago

Page generated in The Standard by Wordpress at 2024-04-24T08:16:35+00:00