Every business has to make a profit, however I believe that if you were to survey main street, you would find a perception among the various business owners and people on the street that banks and wall street are typically a group of businesses that have selfish motivations to generate profits even at the expense of their clients.
Businesses and entrepreneurs really need to find advisors and consultants that understand and see their role as one that adds value to their customers. Business owners and management need ensure that those companies and individuals assisting them in important decisions and guiding the company into the future, have not only the businesses management in mind, but the employees and their families futures in mind before advising or making decisions.
I used to work with a treasury outsourced company where I worked as a money market and foreign exchange trader. With all importers and exporters needing to buy foreign currencies for the various transactions, we played a pivotal role in helping our clients buy the foreign currency at the most competitive rates.
The company that I worked with tracked and knew where the market stood every second of the day. When the trade and transaction was booked, we knew exactly what the price was for our customer to buy the foreign currency at that exact time. We could buy the currency at a time of the day where the price was more favorable to our client and not to the bank. The bank would have still made the fees and minimum required profit, however their trader was not going to be able to take advantage of our client. The client before having us watch over the banks actions would not know exactly what fees and commissions that they paid to the bank and trader. The trader may have done really well if they timed the transaction right and included the advantage into their commission pot.
I believe that I should "do unto others as I would want them to do unto me!" I have made it part of the commandments of our company, to ensure that we treat our clients and stand up for them in the areas of expertise that we hold. Before I worked as a foreign exchange trader, I had operated an import and export business, doing some large transactions just accepting what the bank and trader offered as though I had no choice in the matter. I don't think that way any more, I have seen the value of having a "big brother" to fight on my behalf. These consultants are rewarded for their actions on your behalf, making them ever more diligent to obtain the most beneficial outcome for you and them combined!
I believe that it is imperative to employee experts and consultants to assist small businesses. Who knows they might save them from bankruptcy and failure.
Businesses and entrepreneurs really need to find advisors and consultants that understand and see their role as one that adds value to their customers. Business owners and management need ensure that those companies and individuals assisting them in important decisions and guiding the company into the future, have not only the businesses management in mind, but the employees and their families futures in mind before advising or making decisions.
I used to work with a treasury outsourced company where I worked as a money market and foreign exchange trader. With all importers and exporters needing to buy foreign currencies for the various transactions, we played a pivotal role in helping our clients buy the foreign currency at the most competitive rates.
The company that I worked with tracked and knew where the market stood every second of the day. When the trade and transaction was booked, we knew exactly what the price was for our customer to buy the foreign currency at that exact time. We could buy the currency at a time of the day where the price was more favorable to our client and not to the bank. The bank would have still made the fees and minimum required profit, however their trader was not going to be able to take advantage of our client. The client before having us watch over the banks actions would not know exactly what fees and commissions that they paid to the bank and trader. The trader may have done really well if they timed the transaction right and included the advantage into their commission pot.
I believe that I should "do unto others as I would want them to do unto me!" I have made it part of the commandments of our company, to ensure that we treat our clients and stand up for them in the areas of expertise that we hold. Before I worked as a foreign exchange trader, I had operated an import and export business, doing some large transactions just accepting what the bank and trader offered as though I had no choice in the matter. I don't think that way any more, I have seen the value of having a "big brother" to fight on my behalf. These consultants are rewarded for their actions on your behalf, making them ever more diligent to obtain the most beneficial outcome for you and them combined!
I believe that it is imperative to employee experts and consultants to assist small businesses. Who knows they might save them from bankruptcy and failure.
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