Over the past six months, one thing that we’ve used to our advantage as a blogger start-up is the “stronger dollar”—getting more bang for your buck through a better currency exchange rate.
As a business, this means you’re able to:
- outsource tasks overseas at a reduced rate
- outsource more tasks/projects
- get better overseas contractors at a better rate
…all of which lead to being able to allocate resources more effectively and get things done more economically.
In practical terms for Blogger Babes, we were able to hire a highly experienced graphic designer at 1/9th of the cost of an equivalent graphic designer in the US. More work was accomplished and we were able to invest our savings into hiring another general VA to increase productivity. This in turn enabled us to concentrate on more high-level strategic marketing work.
Overall, as small a rise in currency value as 5-6% in the last three months has led to more than ten times or 30% increase in revenue for us as small business owners.
And all that just through using our time and energy to grow the business and get new clients instead of doing the day-to-day tasks!
Lesson learned? The minutest of value increases/decreases are significant for small business owners, and something to take advantage of!
Have you noticed changes for your small business because of small value adjustments? Any plans to use this to your advantage, or any questions for us to help you out? Drop us a comment below!