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January 18, 2011

Written by Bob Meyer, Editor of BarterNews

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From the desk of Bob Meyer... 01/18/2011

City-Run Barter Site Proposed For Bringing Citizens Together

The co-owner of one of Vancouver’s (Canada) internationally acclaimed restaurants wants to create a special network with a social conscience. Meeru Dhalwala’s idea is a city-run web site that connects people and enables them to barter services and favors. People using the site would be clustered together by their postal codes.

Small Business In The USA

More than three quarters of U.S. businesses have no employees, generating only 3.2% of sales nationwide, according to the Census Bureau. Firms without employees average $45,000 in sales.

The average business posts sales of $1.1 million a year and has about four employees.

Thoughts Worthy Of Your Time

“Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved.”  

—William Jennings Bryan, American politician.

“Don’t be afraid that your life will end; be afraid that it will never begin.”

—Grace Hansen, American dance director.

“One of the striking differences between a cat and a lie is that the cat has only nine lives.”

—Mark Twain, American author and humorist.

Mackay Says Success This Year Depends Upon Your Goals

Small business columnist Harvey Mackay stresses that a person needs a specific and clear direction, and understanding of what is wanted, before achievement is attainable. In other words, know what you really want — be very specific. What is your motivation for this accomplishment? Focus on one or two areas, and be willing to take risks.

Make 2011 different by setting reasonable, measurable goals, then take charge and move forward with determination.

All back issues of "From the Desk...” can be accessed by clicking here.

(Please feel free to forward our newsletter to your friends and colleagues. We have a “box” at the end of the newsletter for your convenience. See you next week. . .)


Pricing Mistakes That Many New Entrepreneurs Make

Trying to be the lowest price provider …

One of the most damaging beliefs in business is the idea that the lower price gets the highest volume. However the whole lower price equals higher volume idea, a fundamental law of economics, is for undifferentiated commodities, not your business.

Successful lowest-price strategies are unusual, and they usually take a lot of capital, resources and visibility. What works for Costco and Walmart doesn’t work for the corner store, independent restaurants, various service-oriented businesses and others.

Mixing your pricing message ...

Price is the most powerful marketing message you have. Do you think people don’t buy your work because it’s too expensive? But isn’t it worth it? Don’t you believe in it? It’s about positioning. How are you different from the others? Is what you sell better than the one across the street? Does your price say so?

Would you get a root canal from the cheapest dentist in town? Would you save money by buying two-day-old sushi? And why isn’t the cheapest-made car the most popular?

What would you rather have for dinner: a $1 hamburger or a $30 steak? A restaurant that has really good food and surprisingly low prices no longer exists. (Their profit margins were too thin; by refusing to change their low price policy they went out of business.) Do you think pricing had something to do with that?

Underestimating real costs ...

Businesses go under when they run out of money. The research on how they run out of money is confusing and ambiguous, and there are rarely single identifiable causes. They frequently run out of money because they underestimated real costs.

We talk a lot about gross margin in business analysis. That’s your selling price minus your direct costs. So when you buy that widget for $2 and sell it for $6, then the gross margin is $4, and your gross margin percent is 67-percent.

Unfortunately, focusing just on gross margin isn’t enough. Aside from the $2 you paid for that widget, there are all those other expenditures — including your rent, your payroll, your insurance, your electric and water bill, all of your marketing costs, and lots of hidden costs, plus the computers and software you’ll likely need in the future. We tend to forget this additional overhead …all the way to the business grave. You simply run out of money. So give your pricing considerations the time and study they deserve.


Is Your Trade Exchange Missing Out On Valuable New Business?

If your barter company’s listing on BarterNews.com isn’t current, you are definitely missing out on new business. The web site BarterNews.com receives heavy traffic — with over 150,000 page-views every month. Entrepreneurs and corporate executives check the thousands of articles, the weekly “Tuesday Report,” and the “Contacts Section” of our site. They use the latter to find barter companies with which to do business.

Is your barter company’s listing up-to-date?

To keep your listing current is very easy. See the links below to (A) update any changes to your company’s listing, such as new location, phone number, web site or other information, and (B) if your company has not been listed.

Here’s how to get on board:

To make changes to your listing click here.

For new listings click here.


Use Barter To Build Your Assets In 2011

There are several ways barter can play an important role in the building of your assets … click here to find out how.


* * ANNOUNCEMENT * *

25 Years Of BarterNews Issues Now In Digital Format

Welcome to the largest repository of barter contacts, strategies, and barter techniques in the world. All 64 issues of BarterNews now available in digital format at http://www.barternews-ezine.com.


·         International visitors look for BARTER CONTACTS in our Global Barter Section. If YOUR exchange isn’t listed see the forms on the lower left of the page. (Click here.)

·         Attention trade exchange owners...thousands of visitors every month visit our BARTER CONTACTS section on our web site where we have names & addresses of barter companies in the USA. If YOUR exchange isn’t listed, or the information is incorrect, you can correct the situation by using the forms to the lower left of the USA map. (Click here.) 

Click here www.barternewsblog.com.


Test Your Marketing Know-How

Questions:

1) Having the lowest price is a great marketing tool.

            True                False

2) It’s a bad sign when you constantly change your sales strategies and incentive programs.

            True                False

3) Most sales leads should be coming from your sales staff.

            True                False

4) It’s bad news when your customers say, “I didn’t know you carried that.”

            True                False

Answers:

1) False. You have a serious problem if having the lowest price is your best marketing tool. The lowest price can often make you seem hard pressed. It may also suggest that your product isn’t valuable.

2) True. Having different strategies each month only creates the impression of desperation.

3) False. Yes, salespeople should develop leads. But something is wrong if your marketing program isn’t yielding a constant flow of new customers. Throwing more salespeople into the field is an expensive way to get business.

4) True. Your message isn’t getting out if your customers don’t know everything that is available to them. What’s worse, if they don’t know, you can be sure your targets for new business haven’t heard of it either.


Money-Making Reports Available From BarterNews


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The Growth and Use of Secondary Capital (New Money) Creates Unprecedented Wealth In Today’s New Age Of Possibility

There are many forms of secondary capital—which can be defined as any financial instrument that measures and communicates value in a common language. Would you like to see and learn more about the many forms of secondary capital?

 We have 70 free, informative and inspiring, articles for you in our “Secondary Capital Section.”

Check it out... www.barternews.com/secondary_capital.htm.


Get New Money-Making Ideas And Valuable Contacts!

You can obtain useful, informative ideas and contacts in every available back-issue of BarterNews.


Every barter company in the world is listed on our web site, click through to our Global List of Barter Companies.


Give A Gift To A Friend Or Associate. If you know someone who might benefit from this newsletter, feel free to forward it to them! (See the “box” at the end of the newsletter for the forwarding service.)


We welcome your comments, questions, and observations.

© Copyright BarterNews 2011. Redistribution of BarterNews content expressly prohibited without the prior written permission of BarterNews.
 

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