If you’re new to business, then you’re probably working with a limited budget.
There’s no shame at all in that……..we ALL started there are one point.
I remember when I left my last job, I was determined to make my business a household name but with bills piling up and not much income coming in, it was really difficult to move my company forward. So I did what most persons do in that situation……..I bartered.
There’s nothing wrong with a tradeoff of products and services, as long as both parties get extreme value with the exchange. Honestly, collaborating with other business owners to grow your own can be done at any stage of entrepreneurial journey, however, it is not to only be used as a way to continuously get free stuff but as a stepping stone to bigger better things.
So if you truly want to move forward, here are some tips to help you barter like a bad ass
TIP ONE: MAKE SURE IT MAKES SENSE FOR BOTH PARTIES
This may seem pretty straight forward but I have seen persons approach others for bartering with items that just do not make sense. This requires some research on your part to determine what can you offer that can actually help the other person in exchange for what they have. So don’t, for example, approach someone with your landscaping services for what they offer if they live in an apartment, it’s just not going to work. Instead, call the company you’re interested in and have a conversation. Figure out what you both can come up with and allow the ideas to flow from there.
TIP TWO: PUT A VALUE TO THE EXCHANGE
Once you’ve decided on who you’re collaborating with, put a monetary value to the services. Although there’s no actual cash, this is to ensure that the value of the exchange is equal.
TIP THREE: PUT IT IN WRITING
Make it official by drafting a contract which states what both parties are responsible for, the value of the exchange, the deliverables (and deadline dates for each if necessary) and the duration of the partnership. Have all parties sign in agreement to make sure everyone is on the same page with no room for error or miscommunication.
TIP FOUR: LIVE UP TO YOUR END OF THE BARGAIN
So both parties have agreed to work together and the terms and conditions have all been drafted up and you’re ready to begin so here’s the easy part……make sure to keep your word. Nothing will hurt you or the reputation of your business more that not fulfilling your end of the deal, and trust me; you do not want that negativity following you around. Now we know that ‘life happens’ and while you may be willing, the powers that be may seem to conspire against you so speak up and have a conversation as soon as possible. Nothing is wrong with renegotiating. From the moment you realize that there’s no way you will be able to keep your word, have an open, honest conversation with your collaborator to decide on a mutually beneficial solution forward
My mentor says ‘Collaboration is the currency of Entrepreneurship’ and she’s right because partnering with other business owners is really one of the best ways to get you noticed sooner, quicker and faster. Pool your resources and continue to look for innovative ways to grow your business.
Get started thinking about what you need right now and who can help you achieve your goals. I will be happy to assist where I can by offering free marketing training and advice in my business Facebook business page at Carli Communications. Be sure to like and follow the page.
Also, if you’re looking to take your business to the next level, let me invite you to sign up at Strategic Marketing Coaching with Carli where I assist you in fleshing out marketing strategies and tactics specific to your business. For 90days I will tell you exactly what you need to do and when, all with your budget in mind. Simply click the link for more information.
And, as always, feel free to like, comment and share with your business bestie as we continue to build our brands and #crushit in business.