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June 7, 2011

Written by Bob Meyer, Editor of BarterNews

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From the desk of Bob Meyer... 06/07/2011

Business Jets In China Versus USA

Almost daily, the newspapers have stories relating how the gap is closing between China and the United States. Here’s a statistic that we came across recently that was quite revealing, given that China’s population is four times as large as that of America. In China there are 130 executive business jets … in the U.S. there are 15,000 executive jets.

Pointer Sisters Charity Event Supports Battered Women

A very rare and special live charity-event for Friendly House LA (helping women since 1951) will be held by the famed Pointer Sisters on Monday June 27 at 7 PM at the world-famous Roxy.

Tickets are $50, for details call 213-389-9964.

Another Reason For Wearing Your Barter Hat

The National Federation of Independent Businesses recent report foresees a tightening for small business. It suggests that small business credit will become harder to get once again. The report says we are closer to very negative levels of expectations about future credit availability, similar to levels seen at the depths of the recession. Now’s the time to contact your local trade exchange for credit extension to grow your business.

Father’s Day — An Opportunity For Sales

Just a few days away, on June 19 (Father’s Day), there will be a $10 billion business opportunity. The average shopper will spend $100 on this day, according to BigResearch.

Huge Atlantic City Casino Development Uses Barter To Move Forward

The Revel casino development in Atlantic City (NJ) is nearing completion of a deal with the aid of barter. The 1,900-room resort with 19 restaurants received a commitment from a Chinese bank for an additional $1 billion, in exchange for using a Chinese construction company and Chinese materials.

Notable Quotes …

“A man with a surplus can control circumstances, but a man without a surplus is controlled by them, and often has no opportunity to exercise judgment.”

—Harvey S. Firestone, American Entrepreneur & Industrialist

“Our greatest weariness comes from work undone.”

—Eric Hopper, American Writer & Philosopher

“It’s more important to know where you are going than to get there quickly. Do not mistake activity for achievement.”

—Mabel Newcomer, American Economist

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. . .)


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Making Things Happen, One Of The Secrets To Wealth

According to a survey of more than 1,400 people around the world with an average net worth of $2 million, the wealthiest respondents had 80% more energy than those at the bottom of the sample.

Energy, of course, is a subjective quality. In the survey, respondents were asked to use a scale from 1 to 10, asking them how much energy they put into certain tasks, with 10 being the highest.

The survey found that the wealthiest of the group devoted 60% of their energy toward focused goals like “making things happen” and “hunting out new opportunities.” They not only focused their energy but they also devoted more total energy (80% more) to all of these goals than the lower samplers.

(The report was done by Scorpio Partnership, Standard Charter Private Bank and SEI.)

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.


Your Idea Alone Has No Value

By Wil Schroter

Contrary to popular belief, great companies are not born from great ideas alone. We’d all love to think that if we could simply invent the next sticky-note, we could sit back and watch the cash tumble in.

But if great ideas don’t spawn great companies, what does?

The short answer is: you. The longer, and far more complicated, answer is how you specifically position yourself and your company to execute on an idea.

Anyone who overhears your idea, or has the same idea at the same time, or basically plans on doing anything similar is already on the same playing field as you are.

In order to differentiate yourself and your idea, you don’t need a patent or some proprietary method. You need a focused plan that allows you to execute above and beyond your competition every day of the week.

Think of your competition like your favorite professional sports league. There are dozens of teams which have talented players on them, but only one team is going to perform better than everyone else. Your goal is to build that team.

Focus On Execution

There is a massive chasm between having a great idea and executing flawlessly on a business model for a great idea. Lots of people have great ideas, but very few people ever execute well on them.

Execution isn’t just about showing up for work every day and punching a clock. For the team that wins, execution is about going above and beyond the call of duty each and every day.

It’s about reaching out to your customer when there are no problems just to see how they are doing. It’s about releasing a product feature faster than your competitor even when you’re already ahead.

It’s being the first car in the parking lot in the morning and the last one to leave at night. It’s doing what the guy next to you isn’t willing to do.

Service The Heck Out Of Your Customer

Even a product that’s a total commodity, like food, can take on an entirely new meaning when you compare the service that comes with it. In your city there may be a hundred places where you can order a filet mignon, but only a handful that are considered top notch. The difference is that the elite restaurants understand that in order to differentiate their product, they need to rely on better service.

They pay attention to every detail of your experience, from the greeting you get from the host/ess to whether you’re given a white or black napkin based on your pant color.

Exceptional service is by no means a commodity. It’s a rare and unusual thing that very few companies can deliver. Chances are your competition isn’t going to go the extra mile to service the heck out of your customer, which creates an incredibly powerful competitive advantage for you.

Determine Weak Spots

It’s not uncommon for a startup company to go toe-to-toe with a much larger company offering a very similar product. On its face, it looks like the startup is at a severe disadvantage. Surely the behemoth megacorp can provide better execution and better service with its vast resources than a scrappy little startup can.

If you were to try to compete against the behemoth on their own terms you’d get crushed. That’s why startups tend to look for the weak spots in larger companies and exploit them. You can easily differentiate your product from a larger company by focusing on stuff large companies tend to fall short on.

Unlike a large company, you can offer the personal service and attention your customers love that they’re probably missing from your bigger competitor.

You can leverage your speed by releasing new versions of your product faster and responding to market conditions more quickly. You can offer talented managers founder’s stock, while a big company can only offer another bonus plan.

Every weak spot that you can exploit is another way to add value to your idea. Once you’ve identified the points, the more pressure you put on those weak spots, the more value you’ll build for your own product.

Tying It Together

Outmaneuvering your competition isn’t about doing any one of these things – it’s about doing all of them consistently. If your idea is great and novel, the only guarantee is that it will be copied. If it’s not, you have to wonder how great of an idea it really is.

When your idea does get copied, the only thing you’ll be able to rely on is your team and your execution. All of the points about going above and beyond the call of duty, servicing your customer, and exploiting the weak spots will soon be used against you.

The only defense against the next up-and-comer, and the only way to consistently create value around your idea is to stick to fundamental execution. Nothing else has value.

(Wil Schroter is founder and CEO of the Go BIG Network, the largest network of startup companies and entrepreneurs at goBIGnetwork.com. He is also the author of the book Go BIG or Go HOME.)

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Customers Versus Rules

“No employee will ever be punished for using good judgment and good old common-sense when trying to accommodate a customer — no matter what the rules are.”

—From memo to employees of Southwest Airlines.


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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.


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