This week I am talking about one of my favourite topics........My Business Blog 22nd Feb

'Living the Life you Imagine'

Business Advice for the Week

Hi All!.............

Hope you are having a good week. I have to admit the last month since returning from America has been a real struggle as I build an additional new brand – The Young Entrepreneurs Academy - to site alongside my business coaching and training. But I believe when we are really challenged in life and reach out, it is amazing how so many people will support you. I have been overwhelmed by the amount of people who have stepped forward to help both in the schools I am teaching the Academy in Australia and in the focus group I am putting together to help take the Academy online and so hopefully impact many kids around the world – Big dreams come with big challenges! But every day I remember to be grateful for doing what I love to do, surrounded by great people – This is the greatest time ever to be alive.

Have you ever wished your kids learnt more about the life skills needed today rather than what the education system currently teaches in schools. If you are interested then...I putting together a group of people to contribute to the online version of my Young Entrepreneurs Academy program that I am currently teaching in schools in Australia. If you would like to be part of this group that starts next week, please click on the this link for details https://www.jimmibradbury.com/young-entrepreneurs-academy-beta-group

Thank you for your support since I started this weekly blog last year………………                    

As always please share my blog and social media posts with all your friends as that is how we build a community. Also I would love to hear your feedback, comments and suggestions of content for future weeks

Advice on questions that you submitted last week about Business challenges

This week I am talking about one of my favourite topics - International Expansion

For the last 30 years I have lived and worked around the world in great places like London, Hong Kong, Manila, New York, Los Angeles, Mumbai and Australia.

More and more businesses are taking the opportunity to expand overseas, especially with lucrative markets such as China and Southeast Asian countries like Singapore. Entering new markets is always challenging and it requires hard work and a great deal of research.

To make the expansion an easier, smoother process, businesses need to do their research to learn the ins and outs of a specific market, build a team of local experts, and develop a foreign exchange strategy to help them to navigate foreign currency markets.

My 5 tips for businesses to successfully expand overseas are as follows:

• Build the right team. Apart from having a well-thought-out business plan, reach out to local experts that can help your business set up in a particular country. Start by finding the right suppliers, distributors and overseas workers. Business councils and the respective chambers of commerce can help you find trusted contacts overseas. An experienced currency exchange expert can help you set up your finances overseas and advise you on the best time to make transactions to avoid losing thousands in negative currency movements.

• Don’t rely on research methods you use in your home country. Google is usually your best bet as a starting point to research overseas markets, but it may not be the prevalent search engine in other countries. For instance, Naver is South Korea’s answer to Google and is a useful research tool to get local information and find out more about your competitors and potential customers.

• Accept foreign currencies. Not only is repatriating your funds from overseas back to your home country privy to exchange rate fluctuations, businesses that accept foreign currencies are more appealing to international buyers. Accepting US dollars, for example, is very common as it is the most traded currency globally and makes the transaction easier for your customers.

• Educate yourself on the society. Apart from researching business regulations of a particular country, take some time to get to know the local culture and customs. This is important when getting acquainted with any potential local business partners.

• Set a budget. When selling overseas, it is best to prepare for shifting exchange rates by incorporating a budget rate range or contingency in your business forecasts. This allows for a more accurate calculation for expected revenue figures and will minimise the impact on income.

• Avoid the banks. Many businesses do not know that banks often impose a heavy margin above the actual exchange rate in addition to added transfer fees, costing businesses a lot of money on every transfer. Fee-free services can offer exchange rates that are up to seven times cheaper than the big banks.

Remember…..Making the decision to start your own business can be intimidating – but with knowledge, passion, a set plan and good experienced coach to support and guide you and keep you accountable, the sky’s the limit for your dreams. It’s time to stop spinning your wheels in a cubicle and start letting yourself shine as an entrepreneur.

Starting your own business is often a learn-as-you-go process. But, the more smart decisions you make early on, the better chance your company has for success. If you have an entrepreneurial idea, consider the advice and tips mentioned above when starting your own business. I hope you found the advice of value.

And, as always, please give me feedback on

Facebook, LinkedIn, Instagram and YouTube

Which ‘Tip’ above is your favourite? What do you want more or less of?

Other suggestions? Let me know! Just send an email to [email protected].

Some items of news for this month of February……………..

1. Join me every month where I go live into my private online members group and train people in the 'how to' strategies, tools and techniques to deal with the challenges that business people and employees are faced with today. I also do live Q&A and give away prizes. Click on this link https://www.jimmibradbury.com/offers/SUmncTgD

2. I have just launched my 12 week business coaching program for those who want some help and guidance and accountability achieving their 2019 goals. The structured curriculum is for both One on One and Group coaching and is suitable for people from all walks of life; Today, I am blessed to be working with Olympian athletes, Start-ups, families working from home, doctors, school principals and CEOs of multi-million dollar companies. The program is based on a structured curriculum designed to get you results and outcomes over a 12 week period and at a very affordable rate. I am also offering a Free 60 minute strategy session and all you need to do is click on this link to request an appointment. Click here https://www.jimmibradbury.com/pl/64296

3. Also remember I have introduced a weekly competition to receive a bottle of the wine reviewed each week in my blog. To the winner, I will ship a bottle of the same bottle of wine to you anywhere in the world!!

Have a wonderful week!

Live the Life You Imagine!

-  Jimmi

www.jimmibradbury.com