This podcast answers the following questions:
The text of the podcast:
You would use Goalseeker if you wanted to increase your bottom line profits through increasing cash revenue or by decreasing cash costs.
We don’t get involved at all in your side of the operations, that is, the production of your goods or services. What we do is to take your product and get the best price for it, globally, and the lowest cost for your imports, globally.
We have found that a lot of people are intimidated by foreign exchange itself - and secondly they are intimidated by the people that sell it; the last thing they want to happen is to be ripped off.
We make the global market crystal clear by putting it all in terms of your benchmark such as profit or cash flow. That’s all we do.
It becomes simple because we're able to take our expertise and put it into your language. We are translators.
It therefore it becomes simple. You provide your product and we identify where you should get the best price in the world. We list these locations and we keep this list up to date. You therefore get live prices.
We don’t sell anything except subscriptions. We are purely a producer of information and we only get our returns from your subscriptions.
Great. So if I’m wanting to sell my product to someone overseas you can tell me when and where I can maximise my profits; that is essentially what your product does.
To repeat myself, precisely.
Oh, other people are using it. We have been utilising this profit-oriented approach for over 20 years, with clients including government entities, agribusiness and offshore education, importers and businesses that want to finance their operations, especially through project finance.
The reason no other people appear to be using it is because the last thing they’re going to do is to tell competitors how to make extra profits. They don’t want you to use the same system.
You mention intimidation. One of the chief benefits of Goalseeker is that it removes the fear of foreign exchange because it removes foreign exchange. We can utilise an actual example of a Queensland grower who was almost exactly in the circumstances you outlined.
This Queensland company was getting $20,000 profit from every $100,000 sold in Australia. If they had exported the flowers to Japan, they would have made A$22,000 profit. Slightly better but not a big increase.
Six months later the revenue from the flowers remained unchanged in both Australia and Japan. Everything was the same except that the Australian/Japanese exchange rate had fallen and the foreign exchange-free profit in Japan was now A$66,000 – a big improvement on A$22,000.
Once the flood gate of profits was opened the Queenslanders sought and found other ways to increase cash returns. A good opportunity was the annual English Mother’s Day where premium profits could be made.