FROM THE EXCESSIVE, CIGAR CHOMPING, “GREED IS GOOD” DAYS OF THE ‘80S, THROUGH THE NICER ‘90S, THE RULES OF ACQUISITION IN THE NOUGHTIES ARE AN ENTIRELY DIFFERENT CURRENCY. BY CHRIS SHEEDY.
Money, what is it good for? Turns out quite a lot, actually. There was a time back in the ‘80s when serious money seemed to go hand-in-hand with pinstriped suits, fat cigars and greedy stockbrokers with Gordon Gecko complexes. Greed was good and the bigger the bank balance the better. Then came the more spiritual ‘90s and faster than you could say self-awareness Zen workshop, money was derided as the root of all evil. But as we welcomed in the new milliennium, a funny thing happened. A sense of pragmatism took hold and suddenly money was seen in a different light – as a device that could be used to create change, a necessary part of modern life and (heaven forbid) something you could actually have fun with!
These days it’s OK to actively seek wealth, but wealth in the noughties doesn’t only refer to money. Sure, making money is fashionable again – all you have to do is take a look at the enormous popularity of TV programs such as The Block, Survivor and Who Wants to Be a Millionaire as evidence of the trend – but the fiscal feeling seems to be that money is now valued for the choices it affords. Feel like volunteering in Africa or sailing around the world? Hard to do without a ready reserve of serious cash.
Today’s heroes are the self-made wealthy – think Dick Smith, Anita Roddick and Richard Branson – but we admire them for many reasons, not simply because they are cashed-up. They’re passionate, motivated individuals who make the most out of their lives in every aspect: financially, socially, physically and emotionally. We raise a glass not only to their success but also for the way they spend and share their wealth. Donating millions each year to charities and needy groups, building businesses with unique values, handsomely rewarding their staff and retaining a fabulous personal lifestyle are all reasons for a big thumbs-up.
Being rich does not automatically mean one is wealthy, argues Hans Jakobi, wealth coach and author of How To Be Rich & Happy On Your Income (Wealth Dynamics International, rrp $24.95). “Dick Smith and Richard Branson are seen as mavericks. They love life. They have attitude in their voice and are passionate about what they do,” he says.
Dick Smith has his own theories on wealth. “I’m very fortunate, I won the lottery of life,” the legendary Australian entrepreneur says. “I was born and bred in Australia after the second World War. I’ve never had to go to war so I’m incredibly fortunate. I’ve always loved the outdoors and my greatest enjoyment is to jump into my helicopter and fly to the Blue Mountains, land in the Megalong Valley and go bushwalking.”
“But I believe I’ll be working until I drop dead. I’m an adventurer and every business I’ve ever run has been a great adventure,” he continues. “I still have more business plans. I’d like to put more back into this country because I’ve done so well out of it.”
Smith’s Australian Geographic business has given away millions to worthy causes, and his Dick Smith Foods business has donated over $2.5 million so far, in addition to supporting Australian farmers. Clearly, Smith’s immense job satisfaction comes not only from his own adventures but also from the knowledge that he’s passing something on to others.
Sean Ashby, 35, echoes this sentiment. As the founder of aussieBum, makers of men’s nylon swimwear, his business has grown to an annual turnover of $3 million per year. He’s thrilled not only by the satisfaction and freedom of owning and growing his own business, but also by the chance to help others.
“I was recently in Queensland photographing a surf lifesaver, Jamie Mitchell, wearing our swimwear,” Ashby explains. “He often travels to national and international events to compete, but has to pay his own way. Because of aussieBum’s success we were able to transfer money into his account to cover a few airfares and help him compete. We now make donations to a few lifesaving clubs around Australia. I’ve got to share the company’s success, because at the end of the day a business has to be, at least in part, about helping others.”
Dr Mariah Evans is a Senior Research Fellow at the Melbourne Institute andco-author of Australian Economy & Society (Federation Press, RRP $75). She has been studying trends and attitudes for almost two decades. Money, she says, has a lot more to do with rank and hierarchy than we realise.
“Humans are extraordinarily hierarchical animals and there are very few ways of showing your place on that social ladder,” she explains. “It used to have to do with strength, size and courage in battle. We don’t have those things any more so wealth is one of the main factors that remain. Wealth is an indicator of security. We believe: ‘I have turned income into possessions – I can rely on them’.”
Money was not the driving force when Sarah Lorden decided to establish her own real estate firm. In 1996, at the age of 29, Lorden and her younger sister Kate went out on their own with the simple desire to work for themselves. With no initial funds to speak of, Sarah Lorden Real Estate now sells over $280 million of property each year. After years of 15-hour days and “constantly running on nervous energy” Lorden now has the lifestyle she’d always hoped for – in the office around four days each week and structuring her days to spend more quality time with her family.
As well as having built an extremely successful organisation and creating jobs for 30 team members, Lorden’s satisfaction comes from the wealth she is able to share with her loved ones. Financial abundance has been a pleasant by-product of business success.
“I’ve just brought my mum and stepdad on holidays with my family to Noosa and we sent mum off to Europe for two months for her 60th birthday. Wealth means you can help people whenever they need it – and even when they don’t.”
So admit it. You’d love to have a fat bank balance and the freedom to live your dreams – and why shouldn’t you? There’s no denying money does make life better in many ways. Just remember that wealth in the noughties is about satisfaction, purpose, lifestyle and security. Enjoy!
WEALTHY & WISE
Founder: Sean Ashby
Company: aussieBum
Business: Men’s swimwear
Value of business at start-up: $20,000 in 2002
Value of business now: Turns over $3 million per year
Greatest moment: “Finally finding time to go to the beach after six months in business and seeing people wearing my swimwear.”
Founder: Dick Smith
Company: Dick Smith Electronics (also owned and sold Australian Geographic and currently owns Dick Smith Foods)
Business: Electronic retail stores
Value of business at start-up: $610 in 1968
Value of business when sold in 1982: $25 million
Greatest moment: “My best adventure was not flying my helicopter solo around the world, but building Dick Smith Electronics.”
Founder: Justin Herald
Company: Attitude Gear
Business: Clothing & licensed brand
Value of business at start-up: $50 in 1995
Value of business now: $15 million
Greatest moment: “Selling my first shirt was the most successful I’ve ever felt. I really wanted to have the time and freedom to drop my daughter off at school and pick her up every day. I wanted my family to benefit from my business.”
Founder: Tim Pethick
Company: Nudie
Business: Fresh fruit juices, smoothies and crushies
Value of business at start-up: The extent of Tim’s credit card limit...
Value of business now: Turns over $1 million per month.
Greatest moment: “I simply get a thrill every time I walk past a shop and see a Nudie on the shelf. I was CEO of BT Looksmart and was doing a lot of travelling. I was under enormous pressure and was very rarely at home. When we had our first child I decided I couldn’t be a father and a corporate executive. I was looking for a way to balance work and time with my family.”
Founders: Sarah & Kate Lorden
Company: Sarah Lorden Real Estate
Business: Real estate
Value of business at start-up: Started with nothing in 1996.
Value of business now: Sells over $280 million worth of real estate every year, in Sydney’s inner-west and beyond.
Lifestyle aim when starting the business: “All we started off wanting to achieve was to be able to support ourselves. We wanted the freedom of not working for somebody else and we needed to be able to pay our mortgages. We had no wish to become extremely wealthy.”
Greatest moment: “Winning the advertising award in 1998 through the Real Estate Institute and the Sydney Morning Herald. We had the best corporate image across Australia and we’d only been in business for two years!”
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