Get Financially FIT with Debbie Bailey

In this episode of ‘Get Financially Fit,’ Debbie Hancock talks with Alex Cooper from Bibby Foreign Exchange about managing foreign exchange risks for SMEs. They explore how hedging with forward contracts differs from spot trading and how businesses can protect profit margins, reduce costs, and avoid common mistakes with currency management. If your business deals with international payments, this episode offers practical insights to help you improve profitability and cash flow by taking control of foreign exchange.

Takeaways 

• Foreign exchange management is crucial for businesses involved in importing and exporting. 
• Hedging is a strategic decision to protect profit margins, not a gamble. 
• Spot trading is for immediate currency needs, while forward contracts secure future rates. 
• Understanding the spread in foreign exchange can lead to significant cost savings. 
• Many SMEs are unaware of their foreign exchange exposure and potential savings. 
• A 0% deposit forward contract can help businesses manage cash flow better. 
• Regularly reviewing foreign exchange strategies is essential for cost management. 
• Communication between finance and supply chain is vital for effective foreign exchange management. 
• Businesses should not ignore foreign exchange losses; they can be mitigated. 
• Bibby Foreign Exchange offers tailored solutions for businesses of all sizes. 

Sound Bites 

"There are significant savings to make." 

"Do you want to increase prices?" 

"It's a no-brainer, isn't it?" 

"Are you using a budget rate?" 

"Do they know what it's costing them?" 

Alex contact details:

https://www.linkedin.com/in/alex-cooper-95b70525/

[email protected]

07469 088424

Hosted on Acast. See acast.com/privacy for more information.

We don’t talk about money enough — and when we do, it’s often wrapped in guilt, awkwardness, or comparison. In this episode, I’m opening up the conversation about wealth, what it really means, and why it’s not just for 'other people.'

I’ll share how creating personal wealth gives you more freedom, confidence, and choices — whether that’s overpaying your mortgage, investing for the future, or simply spending without guilt on what truly matters to you.

We’ll dive into:

• Why normalising money conversations changes lives
• What wealth looks like for you, not anyone else
• Practical ways to start building financial freedom now
• How money is a tool to open doors, not just pay bills

It’s time to stop playing small with your money conversations — and start creating a future you actually want.

Let’s talk about it.

Hosted on Acast. See acast.com/privacy for more information.

In this episode of Get Financially FIT with Debbie Hancock, we’re diving into one of the most overlooked but critical areas of business finance — cash management. I’ll explain why cash is not profit, and why understanding the difference is essential for the survival and growth of your business.

I’ll be sharing some practical cash management techniques you can start using right away to stay in control of your money, reduce financial stress, and make more confident business decisions. From managing your payment timings to building a cash buffer and getting clear on your numbers, this episode is packed with simple, actionable tips.

Plus, I’ll open up about a few personal experiences around managing cash in both my own business and in working with clients — the lessons learned and the habits I always recommend.

If you’ve ever felt like your business makes good money but there’s never enough in the bank, this one’s for you.

Hosted on Acast. See acast.com/privacy for more information.

Q1 is over—how did it go for your business? In this episode, I take you through a full review of the first quarter, looking at key financials like sales, profit, and loss, as well as the bigger picture—how you feel about your progress. I’ll also share my own Q1 reflections, key takeaways, and how to assess your variances to set yourself up for a strong Q2. Let’s make the next quarter even better!

Tune in for an insightful, practical discussion on reviewing your business finances, tracking your progress, and making data-driven decisions that align with your goals.

If you want to see if you are ready to take more profit from your business, you can take part in this free quiz: https://bit.ly/letsgetfinanciallyfitquiz

Hosted on Acast. See acast.com/privacy for more information.

In this episode, I share my personal struggles with money blocks, including my fear of creating offers and being worthy. I'll discuss how I overcame these challenges by:

• Clearing my mental and physical space: Decluttering my workspace, refreshing my wardrobe, and creating a renewed sense of focus.
• Giving myself the space to create: Stepping back from the pressure and allowing myself the time and mental clarity to develop compelling offers.
• Remembering my worth: Reconnecting with my business vision and remembering that I am running a profitable business.

This episode offers valuable insights and practical strategies for identifying and overcoming your own money blocks.

If you're looking to improve your financial fitness and take control of your business finances, take the Financial FITness Quiz to assess where you stand and receive personalized recommendations for financial success.

Click here to take the quiz: https://financiallyfitquiz.scoreapp.com

Hosted on Acast. See acast.com/privacy for more information.

How to Prepare for Your Best Year Yet: A 4-Question Guide

In this episode, I share my personal reflections on 2024, reflecting on what I loved, loathed, longed for, and the valuable lessons I learned.

• What I Loved: I loved spending time with my family, adventures and visiting my grandparents and friends.
• What I Loathed: I loathed someone close passing away, not trusting myself to make a decision.
• What I Longed For: I longed to run!! My foot is getting there.
• Lessons Learned: I learned the importance of self belief.

By reflecting on these four key areas, you can gain valuable insights and use them to forecast a successful 2025. This episode will guide you through a powerful reflection process, helping you identify your wins, challenges, and desires for the future.

If you're looking to improve your financial fitness and take control of your business finances, take the Financial FITness Quiz to assess where you stand and receive personalized recommendations for financial success.

Click here to take the quiz: https://financiallyfitquiz.scoreapp.com

Hosted on Acast. See acast.com/privacy for more information.

In this episode, we dive into the 10 essential financial metrics that every business owner should know. From revenue and profit margins to customer acquisition costs and lifetime value, these numbers provide a comprehensive view of your business's health. By understanding and tracking these metrics, you can make data-driven decisions to optimise your business, increase profitability, and achieve long-term success.

If you're looking to improve your financial fitness and take control of your business finances, take the Financial FITness Quiz to assess where you stand and receive personalized recommendations for financial success.

Click here to take the quiz: https://financiallyfitquiz.scoreapp.com

Hosted on Acast. See acast.com/privacy for more information.

Learn how to supercharge your business's growth with powerful money habits. In this episode, Debbie Hancock shares strategic tips to boost your profitability, including:

• Tracking Income: Gain insights into your revenue streams.
• Mindful Spending: Optimise your expenses for maximum impact.
• Strategic Saving: Build a financial safety net and fund future growth.
• Investing in the Business: Fuel your business's potential with smart investments.
• Tax Efficiency: Minimise your tax burden and maximise your profits.
• Financial Coaching: Unlock your full financial potential with expert guidance.

Tune in to discover how to cultivate a thriving financial future for your business.

If you're looking to improve your financial fitness and take control of your business finances, take the Financial FITness Quiz to assess where you stand and receive personalized recommendations for financial success.

Click here to take the quiz: https://financiallyfitquiz.scoreapp.com

Hosted on Acast. See acast.com/privacy for more information.

Join me as I explore the often-overlooked aspect of business success: money mindset. In this episode, I'll delve into the fundamentals of financial coaching and how it can help you and your business:

• Overcome Limiting Beliefs: Break free from negative financial patterns and embrace a growth mindset.
• Cultivate a Wealth Mindset: Learn how to attract abundance and create a thriving business.
• Implement Practical Strategies: Discover actionable steps to improve your money habits and achieve financial freedom.

Whether you're a seasoned entrepreneur or just starting out, this episode will equip you with the tools and knowledge to unlock your full financial potential.

If you're looking to improve your financial fitness and take control of your business finances, take the Financial FITness Quiz to assess where you stand and receive personalized recommendations for financial success.

Click here to take the quiz: https://financiallyfitquiz.scoreapp.com

Hosted on Acast. See acast.com/privacy for more information.

In this episode of Get Financially FIT with Debbie Hancock I am going to show you three money myths that are stunting your business growth and how to change them.

Money myths can come from our parents, family, friends, films, schools etc. When people share their habits, stories and beliefs, it isn't to be unkind but usually they are trying to be helpful. Are these stories really benefitting you now? I am here to talk through 3 big myths – debt, rich people and financial strategy, sharing with you why I believe they are stunting your growth and how to begin to change them. 

If you're looking to improve your financial fitness and take control of your business finances, take the Financial FITness Quiz to assess where you stand and receive personalized recommendations for financial success.

Click here to take the quiz: https://financiallyfitquiz.scoreapp.com

Hosted on Acast. See acast.com/privacy for more information.