5 Ways Small Business Owners Can Network, Barter, Share, Exchange, Joint Venture, and More
Small Business Owners: Who Do You Know?
Some days I sit staring at a blank computer screen and wonder, “What do I know?” What expertise do I have that I can share with small business owners? What would actually help?
Some days this question just stumps me because some days my brain is filled with nothing more than the equivalent of a fart (hence, the brain farts). That’s it, nothing more, just hot stinky air. Then it occurs to me that I’m asking the wrong question. I should be asking,
“Who do I know?”
That’s a good question for any small business owner on any given day. Who do you know?
On days when business sucks, your brain is stuck in park, or you otherwise have no other good ideas, ask yourself this questions and let it rattle around in your brain for a while, like a big shiny marble.
5 Ways to Partner with People You Know in Small Business
Who do you know who can help your small business? You know lots of people, you just don’t remember who they are. Or you’re not thinking about them in the right context. Here are five examples of how small business owners have called on me in the last week to network, barter, share, exchange, joint venture, or buy. Who do you know who you could call on for these things?
1. Go Ahead, Ask Me!
I know this one is obvious, but it remains one of the most effective ways to get business. I was chatting on the phone recently with Rick at the local smoke shop. At the end of our conversation, he said to me, “We just got some new cigars in. Stop by let’s take a look at them.” Guess what? It’s on my list. I like the guy, I like the occasional cigar, and I trust him. He asks, I go.
2. Trade Tiddlywinks
On one of my business networking sites, an enterprising entrepreneur advertised a very specific offer. He offered to promote a one-sheet about your business at an upcoming fair in giveaway bags if small business owners in his network signed up for his upcoming event. The barter offer was very clear with no hidden agendas. A lot of people took him up on his offer.
3. What’s Up, Doc?
If your brain isn’t working, maybe someone else’s is. A business buddy of mine recently called up and said, “I need 30 minutes. I’ll give it back to you when you need it.” He needed some new marketing ideas to jump start his small business. He wondered if I had heard or read anything nifty lately. His offer? If he could pick my brain for 30 minutes now, he would act as a sounding board for me later. This only works, of course, if you like the other person’s brain, but sometimes beggars can’t be choosers.
4. The Medusa Approach to Business Development
A few years ago, a business gal pal of mine called me up. She proposed that we form a little local business gal pal network to brainstorm business development. Once a year, we four gals get together and brainstorm about business development. We each come prepared with the business plans for our small businesses, as well as the biggest challenges and questions we face. We spend four hours focusing on each person’s small business. We offer solutions, tips, resources, support, and a lot of laughter. We come away ideas, inspiration, hope, and creativity for our small businesses. Can you think of a few business pals you could grab to form this kind of mastermind group?
5. Friend of a Friend
There’s only six degrees of separation between you and anyone you want to meet. Really. Studies have been done (”Six Degrees: The Science of a Connected Age” by Duncan Watts is a fascinating read on this). So if there’s someone you really want to meet, who could really help your small business, find out if that person is a friend of a friend. Or a friend of a friend of a friend of a friend. It’s all good. Just keep goin’ down the line until you hit that sixth degree. You’ll meet that person, even if it is Clint Eastwood or Barack Obama.
Bonus Round: Karma Points
As always, for those who love extra credit, there is a bonus round. If you’re really, really bored, you could always build up Karma Points. Yup, you could do a good deed for a business pal just because you have a heart the size of Chicago. Will you get paid back this lifetime? Maybe, maybe not. But all good karma comes around. Who knows, maybe in your next lifetime you’ll be Bill Gates. You never know!
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Ormita has a website with the history of barter on it which I found interesting - http://www.ormita.com/history-of-barter.html
I saw a timeline that they also published on money and barter but I cannot find it any more. Either way we have considered using them because they seem to know a bit about bartering.
The risks I see with barter exchanges are:
inflation (exchange owners spending barter dollars they dont have)
the wrong mix of members (everyone wanting my product/service but me having nothing to buy)
poor credit control (creating more inflation)
the only reason I liked the Ormita guys was that they let me join and trade but didnt let me sell until I had things to buy. I had ot fill out a buying schedule of everything I currently spent cash on and then they went away and 30 days later they came back with those things and THEN i started buying and selling. The risks seemed lower to me.
I flirted with ITEX and other barter systems but i always ended up selling more than I could ever buy. Like I said - barter can be useful but watch out. I think Ormita don’t consider themselves a “barter” system as such - but more an excess capacity exchange or commodity exchange or something. I heard the sales pitch and the difference was a little outside my scope but maybe its just that the trades take place in a relatively short time (both buy and sell) so Im always close to $0 in my account because i spend everything I earn? Anyway if someone has a copy of their “timeline” of barter I’d be interested in getting one. I know I saw it somewhere on the web from Ormita but I cant seem to locate it again. It would be useful to take another look at.