To make money in your business, sometimes you have to think outside the box. Here is a solution to creating more money in your business that most entrepreneurs do not take advantage of enough. When you have a business, in order for it to grow you don’t have to have lots of money. The way to get more money out of your business is to build relationships. Building relationships is the key in business. Build a relationship, build a business, and build up your money.
The Problem: Most entrepreneurs do not have the resources of the big businesses. We tend not to have a marketing department or even a big enough marketing budget. One way to create more money is your business is by not spending it on some of the resources you need to run your business.
The Hack: Bartering
Bartering is when you swap a trade for a trade. The goal is to find another business or service provider that has something you need and that you can provide something that they need in return. Being sure to make the deal mutually beneficial makes the difference in how long you can benefit from the terms of the deal. No one wants to be taken advantage of, including you. A good way to prevent this is to trade services/products based on the retail price of those services/products. Bartering helps with your business because both parties are getting something out of the transaction but no money is spent. I personally think have exchanged revenue increasing plans to other businesses to obtain knowledge from them to expand my business. I have also given financial coaching to individuals in exchange for testimonials that my methods work.
If you liked this solution, I’m just getting started. Stay tuned next week where I reveal two more hacks!