Bartering: Good/Bad?
Barter is the simplest form of commerce and in some cases it can be just as profitable as CASH. Here is a way I have used barter (there are businesses out there that do this as their business, so contacting one of them might be an option also).
I had a friend that needed my counsel on improving his business image; he was a start up and was self funded so there was no budget to do anything until he got a cash flow going. His business was to build web-sites for large corporations. And that was the extent of the technical portion of his business I understood. He wanted to build a web-site for me in exchange of me helping him learn how to play with the big boys.
I didn’t need a web-site at the time, but I took him up on the offer since I did know someone who did. I asked what the exchange rate would be for his service of building a site. We agreed upon the amount and I started to work.
I picked up the phone and told my friend that I had a way for him to get into a web-site and laid on him a cash deal that was an amount a little above the exchange value my new client had agreed upon.
I provided the consulting service to my client and ask my client to provide my friend with a web-site. He did, my friend paid me in CASH. (And yes, for you CPA’s and TAX Lawyers out there, I did report it.) The result was that my client did get out on the golf course with one of the IT manages for a firm he was targeting.
So, in this case bartering worked for me and for him.
But most of the time it doesn’t, so cash works for me also… I am sure others have their experiences to share on Bartering, good or bad.
Scot Duke
President
Innovative Business Golf Solutions, LLC.
scot.duke@innovativebusinessgolf.com
www.innovativebusinessgolf.com
‘My Blog’ http://businessgolf.blogspot.com
Author of: ‘How To Play Business Golf’, From The Boardroom To The Fairways…
The best investment you can make for your business…
http://www.innovativebusinessgolf.com/business_golf/cb_order.html
1 comment:
Hi Duke,
I just found your blog and enjoyed reading several of your posts... especially the one about the "munchkin" trying to close a deal starting at the first tee box! Anyway, I am a realtor and have gotten a lot of business through networking on the golf course. My approach is to build a relationship and be sure they know what business I am in. It takes patience, but it works for me! Although I have other blogs, today I started a golf blog for the purpose of logging one full season of golf game-by-game, course-to-course. Should be fun. Good luck with your blog and I will check back once in a while. My golf blog is at:
www.CarolsGolfSeason.blogspot.com
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