Currency Exchange for Small Business
I attend a BNI meeting every week. I'm not going to preach the joys of networking, don't worry. One of the members of my group is a currency exchange and they often transact large international transfers for businesses - usually exporters or importers, sometimes migrants (like me) coming into or leaving this island.
This week, my friend said something interesting. The Aussie dollar has fallen below parity for the first time in like a million years (it seems like that anyway). She said "the Aussie dollar goes up the stairs and down the elevator"
Obviously, I'm easily amused and it appealed to me. She means that those in the game say that it goes up slowly and down quickly.
Now a cheaper dollar is probably better for our exporters but it's worse for importers. But importers can lock in a forward rate for quite a long time and hedge against a falling dollar. I just checked and it's still at 97c or so so it's not zoomed down that elevator yet.
So, if you need to buy some foreign currency and you're nervous about the dollar buying you less foreign money, why not lock in a rate today and give yourself some certainty?
My friend is Kylie from Atlas Currency Exchange, by the way.
Please don't call me or send me any money.
Actually....
Jon Dale
Small Fish Business Coaching Byron Bay
www.smallfish.com.au
Find The Hidden Profits In Your Business - Round Two!
We had so many bookings from our workshop 'Find the Hidden Profits in your Business" that we had to run an additional workshop.
We hate to disappoint people!
If you would like to know where the hidden profits are in your business, why not come along to the offices of Mayberry Meldrum Anderson Accountants in Murwillumbah this Thursday, May 2nd at 6.30.
Contact them by email to RSVP please, or you might find yourself standing up. Or give them a call on 02 6672 4044.
The people who came last week all enjoyed it and they all said they found money they were planning to go and grab.
Download the flyer here for a whole bunch of useful information.
Jon Dale
Small Fish Business Coaching Byron Bay
www.smallfish.com.au
Find The Hidden Profits In Your Business - FREE SEMINAR!
There's a free seminar on Tuesday 23rd April at the offices of Mayberry Meldrum Anderson Accountants in Murwillumbah.
Jon Dale is the guest presenter. The topic is Find the Hidden Profits in your Business.
Jon will help you explore six places where money usually hides in a business - the six places we go looking for the low hanging fruit when we're coaching people.
Seats are limited to 25 and 20 are already booked, so hurry. If we oversubscribe horribly, we'll consider another when Jon has had a rest.
Check out the flier for all of the details.
See you there!
Jon Dale
Small Fish Business Coaching
www.smallfish.com.au
Why Coaching Works
Coaching has grown rapidly over the past few years, and there is a reason... it works! We can tell you this every time we see you... In fact it is listed right on our homepage, about why it works. Let us refresh your memory:
1. Business Coaching helps you make more money (more profit). (Ferrari anyone?)
2. Business Coaching helps you take control of your business. (Who has a tiger by the tail?)
3. A business coach will help you to get some time back for yourself. (Work-life balance anyone?)
4. You and your coach might work on your own time management, people management, sales, marketing, cost reduction or systems. (Who knows where it could end up?)
But the point is, even if you have missed this every time you come to our homepage, we now have even more reason to back up why it works.
The latest copy of the ICF (International Coaching Federation) newsletter included this particular graphic which gives good solid statistics on the benefits that clients get from coaching. (Click on the image to make it bigger).
Now these are some stats to be proud of!
Do you have a success story from business coaching? We would love to hear if you do. Write us your reply on Facebook!
Jon Dale
Small Fish Business Coaching Byron Bay
www.smallfish.com.au
Jeff Banks, Small Fish Client, Interviewed in the Manly Daily
Jon has been working with Jeff Banks, principal of Banks Consultancy, a Belrose accounting firm that provides tax accounting and business consultancy services to local businesses, for ages.
Jeff has recently been elected chairman of Pittwater Business Limited, a post previously held by Jon. The group has gone from success to success while Jeff has been on the board and it looks like Jeff remains committed to its role in supporting local businesses - not just the insular peninsula..
Download the PDF and read the interview by clicking here.
Jon Dale
Small Fish Business Coaching Byron Bay
www.smallfish.com.au
Persistence Pays In Building Up Customers
Jon has been asked to sit on a panel of experts by the Sydney Morning Herald My Small Business section (the bit that goes on the website). He has been asked to respond to his first question and here it is:
Persistence Pays In Building Up Customers
We thought it would be fun if some of you who know him submitted questions. Who's for "How come Jon Dale is such a fabulous business coach?"
(The journalist might actually print it, you know :))
Jon Dale
Small Fish Business Coaching Byron Bay
www.smallfish.com.au
Some Thing Bosses Never Tell Employees
Jon liked this article because he's a business owner and he worries about everything. He thinks he agrees with every single one of the points in it.
Do you? Post your comments below!
Jon Dale
Small Fish Business Coaching Byron Bay
www.smallfish.com.au
Economic Disaster My Arse, We'll Be OK
Seth Godin recommended his book, I just watched it on TED (there's a theme here, isn't there?) and it involves a discussion of abundance, which we state as one of our values - we come from a mentality that there's there's enough to go around so we'll share and be generous and we won't feel impoverished if we give stuff away.
Peter Diamandis (Abundance is our Future) talks about how the new and emerging technologies and the population shifts and other factors actually make it likely that we won't all collapse in a heap but that we'll overcome our hurdles and have a fun next decade.
In particular, this applies to our economy (watch for it, it's near the end) - there are some billions of people emerging from the third world into the information world and they'll be our consumers - there will be a huge fill up to the global economy, enough to counteract the global crisis that's with us now. So don't despair.
Watch the video here. It is quite interesting.
Jon Dale
Small Fish Business Coaching Northern Rivers
www.smallfish.com.au
KER-ching! Truth About Banks
Just as Aussie Home Loans and Wizard changed the way we borrowed money to buy houses (and kept the banks slightly more honest than they used to be) now the world of foreign exchange is a target. Jon works with Atlas Currency Exchange in Byron Bay. They can help you save money on international money transfers - check out their bold claim and enjoy the passion in Kylie's writing. She studied journalism at uni and you can tell. Might ask her to write more stuff for us.
So banks are going it alone, increasing interest rates regardless of the RBA ? They’re, *cough, ‘hurting financially’. Those $24b annual profits musn’t be in term deposit. It highlights their confidence in an economic climate where no-one else is.
How far can they ‘push’? Our love-hate relationship with banks means not many of us are impressed by their gall yet the majority, clearly, still walk through their doors for our financial product. When will we seek the alternatives ? Are there alternatives ?
As far as foreign currency product and services go there are. Operators with the same licences, but not the advertising budget or the captive account holders.
If you’re purchasing your fx cash, travel card product or performing your international money transfers (into Australia or out of) through your bank you are, without a doubt .. that’s right, without a doubt .. not getting the best deal.
Cash : banks rarely have cash in stock, you will have to order it and wait. Then the rate, whilst better than the airports (not hard when airports have 10c spreads on majors), won’t be negotiated regardless of whether you’re buying US$100 or US$10000. If you bought 20 cars you’d get fleet rate right?
Global Travel Cards : Careful. You may think you’re doing the smart thing buying a travel card, but wait .. Purchase fee, load fee, reload fee, unload fee, monthly account keeping ‘activity’ fee, expires after ‘x’ months and, wait for it, any funds still on the card at expiry are RETAINED by the provider. That’s like withdrawing money from your account, going home and putting it under your mattress and then 18 months later your bank manager knocks on your door and says ‘Have you still got that money under your mattress? We’re going to have to get that back because you didn’t spend it in the time allocated.’
Multi-currency cards are deceiving. Sounds like a great idea, one card/multiple currencies. Is the card pulling funds out of another currency if your first currency runs out? Are you aware of when this occurs? Do you have to pay for a sms to let you know when it is ? So you’re in the UK and you think those Pounds coming out of the ATM are coming from your Pound account but they’re really coming from the Euro fund portion. What’s the cross-currency conversion being applied (can be up to 8.45%)? If lost or stolen will they be replaced or are you going to get slugged $60 to replace a card that’s going to expire ? Phew, might as well have copped the 4 lots of fees on your Aussie funds out of your keycard.
IMTs/TTs : Oh my .. here we go. Examples speak best. To purchase and transfer US$50,000 to the US (or increasingly China) today, at time of writing you would pay AU$47,959.04 at the best of the major banks, AU$48,199.19 at the worst and AU$46,974.82 across the road at a local FX provider. Simple as that, AU$984 to $1224 more in your hand/wallet/mortgage/shoe fund for EXACTLY the same product.
If your money doesn’t matter enough to check it out then really, stop complaining about ‘The Banks’.
Guest Writer: Kylie Ryan-Miloy
Atlas Currency Exchange
Jon Dale (Kylie's Business Coach)
Small Fish Business Coaching Byron Bay
www.smallfish.com.au
Australia's $15m e-commerce king says "get a Business Coach"
Our friends at Reid-McGill sent us this article. It's good advice, we reckon (well, we would wouldn't we?)
Eddie Machaalani, of BigCommerce gives one great piece of advice of how his start-up rose to success. He lists many more, but of course we found this one the most important.
Quoted from Smh.com.au:
"3. Call a coach
Behind every successful athlete lies a good coach. A business owner can benefit equally from a coach, who need not be incredibly successful running a business or have the skills you do.
Instead, the coach should have good systems and processes to teach and help keep your emotional rollercoaster under control.
A good business coach is worth their weight in gold.
"
You can read the rest of the article here.
So, maybe it is time you really do think about picking up the phone?
Jon Dale
Small Fish Business Coaching Byron Bay
www.smallfish.com.au
