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Blog: You never fail until you stop trying.
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Do I really need to up-skill in my small business?

As a small business owner, you’re the master of all departments. So where do you start? Here’s our top reasons to consider up-skilling within your small business.

How do I become a BAS agent?

At Monarch Institute, our Accounting and Bookkeeping students often ask how they can formally add ‘BAS Agent Registration’ to their career portfolio. But let’s go back a step – what IS a BAS?

5 tips for studying online courses

Online learning is designed to be inherently flexible. You can study in your own time and in your way. But how do you make sure you actually nail it?
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Running a family business - why is it so hard?

It seems like the perfect partnership – a sibling or relative as your small business partner, similar values, similar enthusiasm, complimentary skill-sets. What could go wrong?
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Lessons from Network Ten’s voluntary administration

It’s common knowledge that Network Ten has been placed into voluntary administration after its billionaire shareholders walked away in June this year.
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Logistical challenges in the Asia Pacific region

As with the rest of the world, Logistics in the Asia Pacific region is undergoing significant investment and infrastructural development.

Employers paying above the award don't have to worry about penalties, right?

In a recent case the court found that Ms Stewarts’ annualised salary of $78,000 failed to meet the requirements of the applicable award...
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Is the customer always right?

In short, yes. I used to think this phrase was overused and outdated. But truth is, regardless of how big or small your business is, customer service needs to be at the core of your model in order to succeed.
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Is bricks and mortar retail dead in Australia?

E-Commerce retailers like Amazon are making inroads in Australia, with many traditional bricks and mortar retailing business models facing disruption. The question is, does this shift represent the start of a terminal death spiral for iconic Aussie retail players, or something else?

Is Online Learning Productive?

"You can't produce a baby in one month by getting nine women pregnant" - Warren Buffett. Productivity is real, it can raise living standards. It can allow consumers to become wealthier and businesses to become more profitable. And it all starts with determining how different factors of production (i.e. inputs) affect the overall output.
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Driverless vehicles - a game changer in Australia

A property developer recently installed a ‘landing pad’ for drone delivery at a new block of flats in Chatswood (Sydney). So when I read self-driving vehicles are arriving in Australia sooner than expected, my anxiety regarding my unhealthy demerit point balance on my drivers licence diminished.
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Why Tesla's management strategy is unique

Unless your ego is huge or you were born like Bill Gates, don't compare yourself to Elon Musk - you'll feel lazy. He is a high achiever on any known metric. His claim to fame initially was he made a fortune out of PayPal. But that only got him started.
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Going Digital: Industry 4.0 and Beyond

The rise of digitisation. Despite Kodak inventing the digital camera, it filed for bankruptcy protection in January 2012! It simply wasn't agile enough to shift it's business model to digital quickly enough.
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Take two on the 'Tax (Financial) Adviser' licensing requirements

Occasionally, you are fortunate enough to land on a table with a bona fide conspiracy theorist at a lunchtime financial advice industry event.
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New Career? New You?

Have you ever woken up and thought “I just can’t do this any more?” I have. You know the feeling, when you are on the brink of something new. You sense you need to step into a new stage in your working life. Follow these steps below to define the new you…
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What you learn at Harvard University

Yesterday I got a call on my mobile phone from a good friend Ceinwen. She is one of those people that is good at everything. It almost makes you jealous. She is 39 years old, smart, career minded, hard working and not surprisingly got snapped up by one of Australia's Top 4 Accounting firms...
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How you can rewire your brain to be more positive and happier

Many students find that getting through their studies takes a lot of energy and they long for the day they complete their course. While that day will surely come, you don’t have to feel negative about the intervening time...
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Small Business: The Australian Necessity

We’ve heard it before – Australia is, by population, a small country. This means we have a small workforce, and a small consumer base. And, in keeping with our small theme, we rely heavily on our small businesses. According to the Australian Securities and Investment Commission (ASIC) approximately 96% of all registered companies and businesses are considered to be small businesses with fewer than 20 employees.

How you can avoid a Dick Smith moment

If you were unlucky enough to receive a Dick Smith Gift Voucher this Christmas, but haven't used it yet, it might well be worthless! Yesterday, Dick Smith the iconic Aussie electronics retailer called in the receivers. The mere fact a business goes bust isn't a big surprise itself, but Dick Smith's story is almost worthy of a movie...
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Get ready for success - The SMART way!

Success is a subjective measurement – it’s up to each individual to define what they consider to be successful achievements. Success is also fluid, in that your definition of success can change over time and be re-evaluated. So how do we decide what success means to us and how can we achieve it?

Want to get smart quicker? ....then learn how you learn, with style.

Being enrolled as an adult student in any course of study is a big undertaking. It demands your time, it demands your commitment and foremost it demands that you learn, and usually it’s a large amount of information within a condensed period of time.
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Is it sound financial advice to tell a client to buy a boat?

Ok before my “conservative” financial planning colleagues shake their head in despair, I have a confession to make. I understand the difference between a lifestyle asset (…aka a boat) and an investment asset like shares...

MYOB cloud makes for a bright future

Bookkeeping and accounting professionals have for decades worked in a manually intensive process environment, highly dependent on working under torrents of paper and being physically on-site.

Can you seriously learn from fellow students?

Well we are going to test the theory…so we hope so!...But before we explain how we are going to get students to collaborate via our Online community forums, let me first explain the back story...
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5 ways to invest in YOURSELF

While Australia has had an extraordinary run of good economic times, when it comes to employment the market is becoming more competitive, with unemployment trending upwards and wages flatlining. It's an environment where everyone – young, old, self-employed or rusted-on staffer – can benefit from an active approach to professional development.
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Bitcoins – fad or the real thing?

In a ground breaking deal last week Westpac Banking Corporation’s venture capital fund, Reinventure Group has invested in Coinbase, a Bitcoin company based in San Francisco. This is the first time a deal has been made between an Australian bank and Bitcoin putting Westpac at the forefront of cryptocurrency investment in Australia...
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How much is MYOB worth? Try 2 Billion Dollars.

MYOB listed on the stock exchange in May 2015 at a commanding 2 Billion dollar price tag! If there was ever a question about precisely how valuable this accounting software company was, the share market debut confirmed it.
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2015 Federal Budget Snapshot

Another year and another Federal Budget. Apart from being very tired...the good news is Monarch's financial planning course writers are feverishly updating the course materials to take account of all the changes for both the Diploma of Financial Planning and Advanced Diploma of Financial Planning post Budget. Wow...there's a few!

Learn about annuities in our Diploma of Financial Planning. A good option?

Investing in cash is simple right? Well in the most part yes. However, different investment options do exist when it comes to deciding how to invest in cash or fixed interest investment options. But first let’s get a little perspective.

Accounting software package review

With numerous software packages out in the accounting and bookkeeping arenas, choosing the best one for your business needs can be confusing.

Learn and listen up, ...TED's talking

If you are in need of a little inspiration, knowledge and ideas from time to time and you DON’T want to study within a 'paid' course, are there other options? In short yes. But first, a confession.
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Are you looking for an RG146 specific Online Insurance course?

When talking about life insurance it's certainly not one-size fits all. Whoever said, ‘the more things change, the more they stay the same’, was dead wrong when it comes to life insurance.

Is debt good or bad?

It’s no surprise people try to enjoy the present day, but at the same time also want to invest for their future (…including retirement). Often debt plays a pivotal role along this journey. Whether studying our financial planning course or our bookkeeping and accounting courses, you will be addressing the concept of debt in a lot of detail.

ASIC have changes in store for Accountants!

Most people are pretty clear that Accountants and Financial Planners provide different services ( the most part). Accountants specialise in providing tax advice and managing their client's tax obligations with the ATO.

A new SALES course coming in 2015

Did you know nearly 12% of ALL jobs are full times sales positions? A world class sales benchmarking study revealed that the calibre of the salesperson is the most important factor influencing a prospect's decision to buy. In many companies, 20% of the sales force delivers 80% of the revenue!
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How do I become a BAS Agent?

At Monarch Institute we get many enquiries about becoming a BAS agent. Students undertaking Accounting and Bookkeeping courses want to know how they can formally add this important role to their career portfolio.

Millionaires entitled to Centrelink? You bet!

If you thought providing Centrelink advice was exclusively for the disadvantaged and destitute, think again! Did you know millionaires in Australia are eligible for part Age Pensions?

Looking to career change into Bookkeeping or Financial Planning?

Changing your career at any age need not be a daunting prospect, it can be a fun and stimulating process. There are many reasons why people choose to career change at some point in their lives.

5 Tips for study success!

Studying online offers flexibility for people with busy lifestyles. Students find they can combine family, work and social commitments more effectively when they are able to self-pace their learning rate.
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Visit us at the Career Expo - FREE entry tickets.

Looking for a new career? Come down to the Melbourne Career Expo between August 15th - August 17th and meet our friendly course consultants at stand 121.
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End of financial year investment review and outlook

Winter is setting in and another financial year has drawn to a close. There is no better time to rug up, take stock and consider enrolling in Monarch's Diploma of Financial Planning if you want to learn the key principles around wealth creation.

Why is June 30th such a big issue for Financial Advisers?

Forget the winter football fever, the big challenge facing financial advisers is how to legally help their clients reduce their tax bill before the financial year.

Free membership to the Institute of Certified Bookkeepers

Yes correct....for a limited time, you will receive a FREE 12 month student membership into the Institute of Certified Bookkeepers (ICB) when enrolling in either the Certificate IV in Bookkeeping, Certificate IV in Accounting or Dual Qualification.

Our 2014 Federal Budget analysis - Winners and losers.

Wow...what a big Federal budget night! Joe Hockey's maiden budget certainly delivered some bitter medicine in an effort to shrink the budget deficit.

Study Online, learn MYOB the right way and prosper!

Real world bet. Whoever said studying accounting and bookkeeping wouldn't give you "real life" experience! Did you know when studying our Online Certificate IV in Accounting or Certificate IV in Bookkeeping, Monarch provides you access to a state-of-the-art learning management system?

Soft skills – an important ingredient in your success.

Many students studying financial planning and accounting and bookkeeping with us are naturally focussed on becoming technically proficient with the subject matter at hand. This is of course a very good thing!
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The monk who sold his Ferrari....

We hope you have a fantastic forthcoming year...we can't believe it is already the start of February! As always we want to make sure our Blogs are timely, relevant and make you think.
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Our Administration head office is moving

Whilst we must say we loved being close to the groovy Smith Street Collingwood shops, and some amazing food outlets along Gertrude Street Collingwood, the CBD beckons! For any homesick staff, it is comforting to know it is only a leisurely 3 kilometres walk from where we currently are.
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Is money the best reward?

The truth is, money is the most expensive and least motivating currency circulating in the 21st century workplace. When trying to motivate staff, many managers think “reward” and automatically jump to “money” alone. But though money can rent loyalty, it can’t buy it.
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How market "disruptions" allow businesses to survive and thrive....

All business sectors go through challenges at some point in their life cycle. Just ask Apple. Can you believe there was talk about Apple moving into bankruptcy prior to the introduction of the iPod in 2001.
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Studying online - the 'NEW' normal

Things are moving quickly in the education space, and Monarch not surprisingly has chosen to be a forerunner. What does that mean for you, our valued students? A better experience. After all that is what we obsess about. And who said being obsessive is always a bad thing :)
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New Horizons

As a specialist financial services training provider, we often get asked about programs sponsored by companies working within the financial planing industry. The AMP Horizons program is one of those programs we frequently get asked about. As the name suggests, it is run by AMP and offers candidates anywhere in Australia the opportunity to get into the financial planning sector via a unique pathway.

About the Association of Financial Advisers (AFA)

When entering a new industry like financial planning, it is important to ask as many questions and to gain as much valuable wisdom from successful professionals that have "been there and done that" before you. Success is something that doesn't happen over night, but it certainly can be learnt.

Federal Budget Analysis 2013

This year’s budget reveals a deficit of $19.4 billion this financial year followed by $18 billion in 2013–14. This is in stark contrast to last year’s projected surplus of $1 billion. The reason behind the rapid increase in the budget deficit was essentially a shortfall in revenues.
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The social media revolution in financial services

A recent article in the Financial Planning online insurance journal 'Riskinfo' outlines how social media programs are being launched by large financial planning dealer groups to help improve the engagement of financial planners with their clients and the community.
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Our Superannuation course materials are .... super!

If you are on this blog, you are probably aware that being RG146 accredited in superannuation (either being able to provide personal and/or general advice) is a pre-requisite to working in most job roles in superannuation within the financial services industry.

Socially responsible investing is back!

Ethical, socially responsible, sustainable.... call it what you like, however investing with a conscience has moved to centre stage since the Global Financial Crisis (GFC) as returns of the top responsible funds have outpaced the market.

Are you disturbed by this billboard...we are!

A student of ours took a photo of this billboard yesterday located on an intersection in Kew, Melbourne. It's still there apparently.....

The year of the snake

We were fortunate to hear from ANZ Bank CEO, Mike Smith last night at their Chinese New Year function that we were kindly invited to. Mike Smith discussed China mainly (...given the theme) and how important China's economy is to Australia's continued prosperity.
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Monarch wins marketing agency mandate

Ok, we admit it, we are not a marketing agency and we haven't had a car company engage us to write amazing press ads or create an amazing TV commercial. But we have just landed a contract role with marketing agency Advant Group to review their financial planning content that they publish each month for hundreds of financial planning firms across Australia!

Run your own business and start growing a nest egg

I read with interest an article the other day in Money Management that said there has been a significant increase in financial planners over the last 3 months who have chosen to list their practice for sale with specialist brokers.
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Unfunded superannuation liabilities - what are they?

Did you know that not everyone's superannuation money is sitting in their account ready to be taken at retirement? Some people's super money is merely 'synthetic' meaning an amount of money exists that the policyholder is entitled to, yet its in the form of an IOU!

Road merging ahead

The inevitable consolidation between accounting practices and financial planning practices is not a new concept. However, the timing is gathering pace according to many well known industry sources leading many to speculate the next 5 years will see a dramatic merging of traditional financial advice and tax accounting business models into a 'one stop' financial advice shop.

Insurance providers claw back more commissions

The 'modern' financial planning industry now only allows commission to be paid to financial advisers on the sale of life insurance products. All other income must be generated via a fee for service arrangement with a client. Now getting back to insurance, these products can include a variety of policy types including Income Protection, Trauma, TPD and Life insurance.

Our Diploma of Financial Planning course is now Online!

We know many of you dream about the possibility of the leading industry experts in financial planning, coming into YOUR lounge room, bedroom or study and WOWing you ( that a word?) with their amazing stories and anecdotes via cutting edge video technology. Please wake up.... Monarch's Diploma of Financial Planning course is now online and ready!

What does Pacman and the financial planning industry have in common?

They both are gobbling up anything in sight, that's the commonality! In the last 12 months, participants in the financial planning industry have increased their appetite for acquisitions - you might want to call it a feeding frenzy. You only need to look at some of the deals of late.

New superannuation changes as we usher in a new financial year

A few changes have occurred this new financial year (...and we are only 2 days in) in the superannuation area impacting many people, particularly older Australians nearing retirement. These changes have forced financial advisers to re-assess investment and broader super strategies with their clients - a good thing because client reviews on a regular basis are crucial to good long term financial planning.

New online assessment tool gets a big tick

Monarch recently launched a new online assessment tool for students. The student feedback has been overwhelming, instant and very positive - a fantastic result for all staff that worked hard on getting it 'right' first time around. The main student comments have been that the new tool is intuitive, easy to use and ultra efficient.
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Superannuation no longer sacred

The only certainty in life - death and taxes won't change anytime soon. But whilst we are on the subject of the latter, the Financial Services Minister Bill Shorten's announcement on 27th April 2012 that the superannuation tax is changing effective July 1st 2012 for people earning $300,000 may be just the start of the government tinkering more with super going forward.

Monarch refreshes its website

Monarch Institute are happy to showcase a new and refreshed website look and feel. Hope you like it, and please navigate around and provide us with any feedback (good or bad) on how it may be improved. Thank you to all of our staff who have helped with the testing and content....a job well done!
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Anti-financial planner advertising must stop

Ok, you have heard the joke about the lawyer. "How can you tell when a lawyer is lying? Answer: His lips are moving." Stereotypes are born over time, and like any stereotype it pays to be careful not to label or pre-judge prematurely. The same applies to financial planners.

Student testimonials now on Youtube

Monarch is pleased to announce that we have just uploaded a number of student testimonials, completed last month at the Monarch head office. Thank you to all of the financial planning students who participated - we hope you enjoyed the pizza and the experience of being "on camera".
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Financial Planners that don't follow the rules risk losing their career

First cab off the rank for 2012 It seems the FPA is getting tough these days with members who don’t follow the rules. The FPA has ...

‘Bad adviser behaviour’ is back in the headlines

Most natural disasters – which you can confidently categorise the Storm financial debacle fitting snuggly into, run a routine path.