The Site Shed — Matt Jones
Ep 370 – Transforming Business Expenses into Luxury Travel
Overview
In this episode of The Side Shed podcast, Matt welcomes back Steve Hui from iFlyFlat, who is known for his expertise in leveraging reward points to maximise travel benefits.
The discussion centres around the significant opportunities that business owners often overlook when it comes to earning points through everyday expenses, such as paying wages and taxes. Steve shares insights on how to leverage payment aggregators to earn full points on transactions that typically yield none, highlighting the potential to accumulate substantial rewards for travel.
The conversation also delves into the differences between reward points and airline points, the importance of strategic planning for travel, and the various benefits of premium credit cards. Listeners are encouraged to consider the value of Steve's course, which offers a comprehensive guide to optimising points accumulation and utilisation, ultimately enabling them to travel in luxury without the hefty price tag.
Quotes
"85% of the businesses that came to us, with no exaggeration, they did not have the right foundations laid when they came to us looking for marketing-related services." - 00:00:20
"If you currently have a business and your business has expenses, which every business does, chances are, like myself, you are missing out on a huge opportunity." - 00:02:06
"I call it the points generating machine." - 00:05:06
"Once you understand the value of points, no one will be walking past points in the future." - 00:09:25
"If you're not currently generating any reward points for paying yourselves, paying your staff or paying the government, then you are...leaving money on the table." - 00:10:25
"You can literally say bye bye to the economy; they literally do not have to fly economy for the rest of their lives." - 00:05:27
"The numbers don't lie; they literally show that things are so cheap." - 00:24:17
"It's never too late to start." - 00:36:02
Timestamps
00:00:00 - Introduction and Importance of Foundations
Discussion on the importance of having solid foundations for trade businesses before investing in marketing.
00:02:06 - Missed Opportunities for Reward Points
Highlighting the potential rewards points that business owners are missing out on by not leveraging their expenses.
00:03:12 - Welcome Back Steve
Introduction of Steve and a recap of previous discussions on leveraging reward points for travel.
00:04:36 - Transforming Expenses into Reward Points
Steve shares insights on how to turn business expenses into a significant number of reward points.
00:09:05 - Understanding the Value of Points
Discussion on the importance of recognising the value of reward points and how to accumulate them effectively.
00:10:15 - The Points Generating Machine
Exploration of how business owners can maximize their points earning potential.
00:11:00 - Payment Aggregators Explained
Explanation of how payment aggregators work and their benefits for earning points.
00:12:51 - Maximizing Points with the ATO
How to earn full points when paying the ATO through payment aggregators instead of directly.
00:13:38 - Understanding Reward Points vs. Airline Points
Clarification on the difference between reward points and airline points and their respective values.
00:16:06 - The Cost of Points and Value Comparison
Discussion on the cost-effectiveness of using points for flights compared to paying cash.
00:19:26 - Utilising Credit Cards for Maximum Benefits
Exploration of the benefits of upgrading credit cards and utilizing them for business expenses.
00:22:27 - Flying Team Members Business Class
How business owners can use points to enhance their team's travel experiences.
00:24:06 - The Value of Planning for Travel
The importance of planning ahead to maximise the benefits of reward points.
00:30:00 - Choosing the Right Airline Programs
Advice on selecting the best airline programs based on travel needs and point accumulation.
00:32:17 - The Advantage of Being a Business Owner
Discussion on how business owners can leverage their spending to earn more points.
00:35:22 - Conclusion and Call to Action
Encouragement for listeners to take action and explore the course for maximising reward points.
