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May 21, 2013

Written by Bob Meyer, Editor of BarterNews

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From the desk of Bob Meyer... 05/21/2013

Here & There In The Barter World …

The International Reciprocal Trade Association (IRTA) has announced the program schedule for their annual convention, coming this September in Las Vegas. For more information and registration, click here.  

International Monetary Systems (ITNM) earnings have been reported for the first quarter of 2013. For more information on the company and earnings, click here.

Monetary expert and barter ambassador Tom Greco continues progressing toward successful funding his coming European effort. With 8 days left he has $2,500 of the needed $4,000. Follow his progress at: http://igg.me/at/tomstour/x/31801 .

NFIB Marks 70 Years As America’s Leading Small Business Advocate

Founded in 1943 (San Mateo, CA), the National Federation of Independent Businesses recognized the need to represent the little guy. Today the NFIB has more members and credibility than any other small group in history. Headquartered in Nashville (TN) since 1992, they continue to work to make America’s entrepreneurs heard in Washington and around the country. Membership now stands at 350,000 small and independent businesses across the nation.

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. . .)



BarterNews.com — World’s Largest Depository Of Barter Information

Hundreds of valuable articles, techniques, and strategies are found in the following various barter categories:

Ø  Entrepreneur’s Corner,

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Ø  Corporate Barter,

Ø  Offset & Countertrade,

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Ø  Restaurant & Entertainment

(The Barter Categories are found on the horizontal bar at the top — 3rd button from right.)


Trade Exchanges Are Powerful Allies For Lowering Business Costs

Every dollar saved is magnified at the bottomline. Here are some ways to save money:

  • Do more business through your trade exchange. Every barter purchase that replaces a cash purchase saves you money.
     

  • Begin negotiating better with your cash vendors. Ask a simple question, “What else can you do for me?” And when you give them “additional” business, do it on a trade basis.
     

  • Focus on performing to the utmost for existing clients. It costs only 20% as much to keep them happy and satisfied, as to find and secure new clients.
     

  • Introduce incentive programs for greater productivity, ones that pay off regularly. Then use barter to fund these programs, whenever possible.


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.


The Worst Thing You Can Do To Employees

By Doug and Polly White of Whitestone Partners

We are, of course, excluding things that are illegal, unethical, immoral or unsafe. That sort of behavior aside, the worst thing that an employer can do to an employee is to pay him or her significantly more than a free-market wage. What? The worst thing you can do is to pay someone too much? We can see people’s hands going up volunteering to receive that type of harsh treatment. But, the results are often devastating for the employee.

We’ll define a free-market wage as the amount of money that the employee could reasonably expect to earn if he or she lost his or her current job and had to find work. It is what the free market would pay a person with the education, experience and skill set of the employee in question.

We are talking about situations where employees are paid 50- or 100-percent more than they could get elsewhere. If you think that doesn’t happen, guess again. We’re aware of a company that has to pay low-skilled employees working on a government job $12.50 per hour, while their other employees, doing exactly the same work for private sector customers, are paid $8.00 per hour. The reason? The government requires that the workers on its jobs be paid on a union wage scale. If the workers making $12.50 per hour were to lose these jobs, could they find jobs paying as much? Not likely. They are making 56-percent more than the free-market wage.

When an employee is significantly overpaid, several things happen. In most cases, the employee does not recognize that they are overpaid. It’s human nature. Most of us believe that we are worth more than we are currently being paid. At most, we think that we are paid fairly. It is a very unusual person who recognizes that his or her compensation is well above what he or she could earn elsewhere and adjusts his or her lifestyle to compensate.

(Continued below.)


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The second thing that happens is that the overcompensated employee, not recognizing the precariousness of his or her situation, builds a lifestyle that cannot be sustained by less than their current income. For most, even if they know they can’t replace their income, they behave as though they can. People stretch to buy the biggest house for which the bank will approve a loan. They buy new cars with debt and leverage themselves to the hilt. Spending on “extras” chews up cash, savings are minimal. Often it takes the current level of income just to service the debt.

Then, the unthinkable happens. The goose that laid the golden eggs is gone. It could be a plant closing, a layoff or perhaps an employer who finally realized he or she could replace the overpaid employee at a substantial savings to the business. For example, a company that operated call centers wanted to be on Fortune magazine’s list of best places to work in America. To achieve this, they offered above-market-rate compensation, extremely generous benefits, three to five weeks of vacation and numerous other perquisites such as fun days.

The company made Fortune’s list. Then, the economy turned down and things got tight. A bright, young analyst figured out that the company could save millions by outsourcing its expensive call center operations? The party was over. Paying significantly above market rates to employees who cannot justify the premium through increased output is not only irresponsible, it’s an abrogation of the company’s fiduciary responsibility to its shareholders.

Most people who find themselves out of work will try to replace the income they have just lost. They believe they can because they think they are worth what they were making. Refusal to accept lower paying jobs lengthens unemployment and makes matters worse. They try to hang on to the lifestyle they built not realizing that they will never again attain their former level of income. We’ve seen cars repossessed and foreclosures on homes. Marriages have broken up under the stress. In one particularly sad case, a person ended up sleeping in his car.

(Continued below.)


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Of course, blue-collar workers are not the only ones subject to this phenomenon. Many white-collar workers and elite athletes have met the same fate. Having worked very hard for years to make it to the pinnacle of their sport? The NBA, the NFL or MLB? Too many elite athletes proceed to build a lifestyle that requires their current level of income to sustain. The minimum salary of an NFL football player is currently about $375,000 per year.

Unfortunately, the average number of seasons that a player spends in the NFL is three and one-half and most have no prospect of making that kind of money once their playing days come to an end. Too often, when the ride is over for these elite athletes, their worlds come crashing down and they find themselves destitute. The list of former star athletes who met with financial ruin includes household names such as Mike Tyson, Scottie Pippen, Lawrence Taylor, Dorothy Hamill, Rollie Fingers, Bjorn Borg and Johnny Unitas.

It may sound odd, but in our years of experience, we have found that the most unfair thing an employer can do is to pay an employee significantly more than a free-market wage. Doing so sets the employee up for financial ruin when the gravy train comes to an end. We’ve seen it time and time again.

(Doug and Polly White are principals at Whitestone Partners, a management-consulting firm that helps small businesses build the infrastructure they need to grow profitably. They are also co-authors of Let Go to GROW, which explains how entrepreneurs can avoid the most common pitfalls when growing a business. It is available at www.WhitestonePartnersInc.com .)


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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.


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