Bartering is the New Black
Contributed by Melissa Barker, Opportunity Creator for Women Thought Leaders; Founder and CEO of Women Entrepreneurs Inc.
Do you ever think…
If I had a better website, I could get more clients.
If I had more clients, I could afford to build a better website.
Ah, the entrepreneur dilemma.
You only need to flick your thumb and your Instagram feed will give you whiplash:
“Hire me, I’m an expert!”
Right next to…
“Do it yourself, here’s how!”
So, which one is it? Invest in the experts or do it yourself? What happens if you don’t have the money (literally) or you can’t do it yourself (also literally). Does the world stop? Do you throw in the towel? Better luck next time?! There has to be a better way.
Bartering has gotten a bad wrap, and it’s no secret why.
The biggest fear of bartering can be summed up very simply:
What if I give more than I receive?
I can promise you that if you enter into more than one barter in your lifetime, this WILL happen. In fact, every time I drive through Starbucks and trade my hard-earned cash for a coffee, I can guarantee you who’s getting the better end of the deal. And yet, I’m back a few days later. Why? Because for me, it’s worth it. The exchange doesn’t have to be exact, there are other factors at play (in this case, convenience).
Unlike my Starbucks, there are ways you can get what you need without cash or going at it alone. And for business owners, this is the holy grail.
Here are a few examples:
I’ll trade you 1 hour of marketing advice over Zoom in exchange for a connection to your friend that works at [name of large company here].
I’ll feature you in my email newsletter in exchange for a crash course on QuickBooks.
I’ll post about your event on my LinkedIn account if you’ll share my latest blog post on Facebook.
The truth is, we don’t always need a full-time paid consultant; we just need some bonafide advice which are the best opportunities to barter. Don’t enter into bigger commitments with someone without testing the waters with a small ask first.
But Melissa, how do I know I won’t get taken advantage of??
You don’t. And that’s why it’s important to start small and be strategic about who you barter with. But how do you do that?
I thought you’d never ask!
When bartering, your goal isn’t to trade with every woman you meet that could be of help to you. Your goal is to find women who share your same values. You only need to check out her Instagram to see what she cares about. A Virtual Coffee will give you a good idea of what she’s about. (Check out our Virtual Coffee Agenda for extra help on this topic.)
Could you get burned? Yep. Could you also fill the gaps in your business, increase your professional circle, and get better and better at setting up mutually beneficial trades? 110% yes.
The funny thing, this isn’t new or novel. Bartering and trade have fueled economies for centuries. And, it’s prevalent in the business world too. That last free webinar you attended? Make no mistake, you entered into a trade: her advice for your email address to sell you on services later.
Ever heard of the good ole boy’s network? Do I mean the various groups of men committed to helping each other get ahead? Yep. So, why should they have all the fun? And, like many things that change once women get involved, we can make it better, fairer, and more advantageous to everyone.
So, go ahead! Write a small list of things you need help with. Then look around (why not start with our Directory) and make a list of who can help you. Finally, brainstorm what you can offer in return. Get creative!
Keep in mind that the return may not always be instantly “paybackable.” It may come around later.
The question isn’t, can we afford to barter? The question is, can we afford not to?
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