Manage Your Booking Don’t Just Be Another Brick In The Wall

Towards the end of 2003, I went to a number of different countries, and one of the countries that I visited was Australia. But while I was going to another country, it wouldn’t be completely accurate to say that I was going on holiday.The reason I was going away was to mark the first anniversary of the Bali bombings, which was to be held at the Parliament House in Canberra. Along with going there, I would also be going to Bali for another ceremony.The Year BeforeWhat connected me to all this was that my uncle was one of the people was killed at the Sari Club. Before this took place, he had been the manager of two hotels In Bali.So, while I would be getting on a plane and travelling somewhere I had never been before, I wasn’t going there to enjoy myself. If I remember rightly, I was still trying to come to terms with what had happened.

CanberraWhen my family and I arrived at the ceremony in Canberra, a number people who knew my uncle were there. Some of these people had worked with him when he managed different hotels in Australia.And there was one person who stood out during this time, perhaps because he had quite a forceful personality. Not only did he have a lot to say about what had taken place, he also expressed his views on other things.Back To the HotelAfter the ceremony had come to an end, we spent more time with this person at our hotel. Here, he spoke about the kind of things that the people at the top had done in the past, and let’s just say that he wasn’t talking about the ways in which they had helped humanity.I was completely absorbed in what he had to say; I thought that this was one of the most interesting people I had ever met. Through being incredibly curious, it was like food for my mind.A MessageAfter he had been talking about what goes on behind the scenes, he looked at me and said ‘”don’t just be another brick in the wall Oliver!”. And hearing these words still has a big effect on me to this day.

When I heard this, the part of me that didn’t want to fit in was being validated. This is not to say that my whole changed after I heard this; it was as if a seed had been planted in my mind.Looking BackWhat I believe he was saying is that it is easy to go along with the crowd and to simply fit in. The trouble is that when we do this it causes us to disconnect from who we really are and to become a copy of someone else.All that is within us is then going to be overlooked, and what we express is going to be nothing more than what other people have expressed. Our need for approval is going to be one of the things that make it harder for us to be ourselves.

A Latin Impact on the Finance Industry

Financial Institutions are a fantastic business model to learn from when considering ever changing market conditions. Their traditional target markets are stable, but, the needs of an emerging market, the Latino market is extremely underserved. It is certainly not for lack of money. Many Latinos have zero debt and healthy saving habits. The question arises, are financial institutions doing enough to serve this population? Are they adapting to the Latino needs? The answer is complicated.

There are two types of Latinos in the USA. One is the immigrant seeking a better life and wanting the American dream, whether they came through the proper channels or not it is irrelevant. The second, are the Latinos that are born here. These are two very different groups of people with different needs and goals. Most immigrants bring their culture, traditions, and customs with them to the US. Those born here develop a blended culture that is both Latino and American.

Financial Institutions are taking notice and making strides to accommodate this very economically influential population. The main reason is that there is a lot of investment in education and developing trust. An untold detail is that in Latino countries, people do not trust banks and financial institution because of corruption. Everything is paid in cash and there are no debt or traditional credit scores. This means that the Latino community have cash, probably stored under their mattress or in a shoe box. This is very dangerous considering that a house fire could burn an entire life savings. Another scenario is they could become a target for robbery. This is a foreign concept for Americans. What is happening is a huge learning curve, educating them on the process of building credit, saving their money in a financial institution, getting loans (mortgage, car, etc.), and most important having trust in the financial institutions.

The younger generations that are born here learn from their parents and surroundings. There is still a disconnect from the importance of financial products, building credit, and how that process works. Many of these young people are just translating for their parents, explaining financial products, and become an intermediary for conducting business. You will notice an increase in bilingual support at many financial institutions for this reason. There is still a lot of work to do in this regard, and this process will take time.

However, more and more financial institutions are offering products specific to Latinos. Information is becoming available in Spanish and more financial institutions are hiring bilingual and multi-lingual speakers. It will be interesting to see how we as a country adapt to this important demographic. It is truly an untapped market that has an important function in our economy for growth and stability.