Briefly tell us about your business and how you got started.

The business began in 1994 in Perth,essentially from a desk in the bedroom. We had a desire to see people achieving more financially and a dream to build our ideas into a substantial business. In 1996 we sold everything, carted our 5 children across to NSW and started again. At no time did we ever think we would not make it work.

What have been your major achievements?

In business our major achievement has been to build a network of branches which all enjoy profitability. The franchising norm is to open new branches as quickly as possible. Our model was to open a smaller number of branches which we then concentrated on to get it right before expanding further. We now know that it will be far better for us to assist existing branches to expand than to have too many branches competing with each other for market share.

What have been your major challenges?

I still recall the early days when we had two staff. We would pay wages, have nothing left to pay ourselves, and then call a meeting of the staff to brainstorm money making ideas! Its amazing how creative you can all be when your next week's wages are in doubt!

Who has been your greatest mentor?

Women seem to struggle to find mentors, and I think that is because we are so busy attending to the myriad tasks we have in our lives that there is just no time for a mentor. My father was always a huge influence in my life - both from a personal and a business perspective, and his passing 3 years ago left a giant hole.

Since then I gain great inspiration from two people - Noel Whittaker, who wrote 'Making Money Made Simple', and Neil Jenman, who is a wonderful consumer advocate trying to protect people from spruikers and the nastier side of property investing. Both of them are able to give me a great boost when I need it most.

How do you stand out from your competitors?

Building a great company is not just about having a great product. It is about developing, and then maintaining, core values and an enduring vision. In our case, our vision is to 'change the collective economy by impacting on the financial circumstances of the individual.' This means that our products will be constantly changing in order to fulfil this vision, and we become far more receptive to change. What we offer in 10 years time will probably be something we haven't thought of yet! I think this alone makes us stand out from our competitors, and means that we are always the first with innovative new ideas and products.

Where would you like to see your business five years from now?

Thinking back to our vision, I see our business achieving this over time. It is dangerous to have a concrete view of what we will look like in 5 years as this will then preclude an ability to respond to change as and when it is needed. If you asked 3M, who started as a mining company, where they saw themselves in 5 years, they would never have been able to tell you that they would invent the Post-It note!

In 5 years I see Destiny continuing to lead the market in Property Investing Advice with innovation and a commitment to our clients' successes. We will probably be doing it on a global scale, however!

What are your Top Five Strategies for Success?

1. Have a Big Business Mentality.
2. Develop your corevalues and stick to them.
3. Don't be indispensable - find the right people and let them have the reins.
4. Introduce systems from day 1 and build them before you build your business.
5. Embrace change.

How do you hope winning the NSW Telstra Business Woman of the Year Award will support you/your business and/or other women?

To be perfectly honest,I have always seen this award as recognition for the team. Without the Head Office Staff and the Branch managers, Destiny would not be here. I think we have created a great business from very small beginnings, one which has impacted on the lives of both our staff and managers and their clients. I am keen to share how we did this so that others can benefit too, and this award can give me the chance to do that.

As for women, there are so many pressures today despite the distance the business world has travelled with regard to women. I have 5 children who seem to have grown into pretty great people, despite my constant fears that I was never good enough to be their mother, that my choice to be in business was somehow a choice not to be a good mother. From this I have learned so many things about what is right about choosing the business world, and I hope to be able to share this so that others don't have to go through the same self doubt that I always have.

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Contact Margaret Lomas at Destiny Financial Solutions
02 4351 0380
www.destiny.net.au