May 21, 2013
by Bob Meyer, Editor of BarterNews
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From the desk of Bob Meyer...
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
International Monetary Systems (ITNM) earnings have been
reported for the first quarter of 2013. For more information
on the company and earnings,
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:
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.
back issues of "From the Desk...” can be accessed by
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
Hundreds of valuable articles,
techniques, and strategies are found in the following various barter
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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.
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
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?
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.
your barter company’s listing up-to-date?
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:
make changes to your listing
The Worst Thing You Can
Do To Employees
By Doug and Polly
White of Whitestone Partners
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.
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.
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.
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.
Money-Making Reports Available From BarterNews
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.
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
(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
How To Get More Sales In
Our street-smart restaurant
marketing report shows proven ways to rapidly boost your
restaurant’s sales & profits.
The Growth and Use of Secondary
Capital (New Money) Creates Unprecedented Wealth In Today’s New Age
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...
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