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Web www.barternews.com
October 15, 2013

Written by Bob Meyer, Editor of BarterNews

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From the desk of Bob Meyer... 10/15/2013

Here's Two More Bootstrapping Techniques For You

Bootstrapping is the art of learning to do more with less. Entrepreneurs across America have repeatedly started successful businesses on a wing and a prayer, and one special ingredient: an understanding of the art of bootstrapping.

Last week we gave you two bootstrapping techniques. Here are two more tried and tested techniques:

  Hire student interns who are willing to forego a salary in exchange for work experience.

  Share office space with (or sublease from) a large company that will offer you access to conference rooms, office equipment, reception or typing services.

(For last weeks techniques, see Tuesday Report dated 10/8/13.)

Small "Mom & Pop" Businesses Spend 3% Online

The Boston Consulting Group reports that from all web companies selling ads to small businesses, the average Mom & Pop is only spending 3-percent of its marketing budget online.

New Book Co-Authored By Former Barter Executive

A unique (fictional) book on networking titled, 21 Days to Success Through Networking: The Life and Times of Gnick Rowten (Gnick Rowten is networking spelled backwards), is now hitting major bookstores as well as Amazon.com. Co-author Ron Sukenick was an executive in the BXI Los Angeles-headquarters office two decades ago.

New Report Shows "Income Inequality" Now An International Crisis

The latest World Wealth Report, compiled by Swiss bank Credit Suisse says the top 1% now control an astounding 46% of the worlds assets and 86% of global wealth is owned by the richest 10%.

Meanwhile the other two-thirds of the worlds adults have wealth of less than $10,000, and Credit Suisse projects wealth for those in this bottom percentile will steadily fall over the next 60 years. Yet overall, global wealth has more than doubled since 2000, reaching a new all-time high of $241 trillion. In short, the rich are getting richer while the poor get poorer.

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


Be Informed, Take Action, Embrace Barter

Times change, and we too must adjust. The good news is that even with economic changes, you can do just fine when youre aware, motivated, and take action. Knowledge is power that can become your ally in achieving greater economic security.

Begin with a greater focus on reduction of debt and lowering overhead. Next, pay attention to cementing those special relationships with your most valued customers the 20% that bring you 80% of your sales, because theyre the backbone of your business.

Moreover, with the power of knowledge, you can be confidently aggressive and pro-active in your strategy. Thus, this would be an excellent time to pursue those prospective clients youve always wanted to do business with. Because of lagging sales in the environment, prospective clients will be more willing to listen to you when you use the greatest closing there is: And remember, you dont have to pay me in all cash!

When economic changes occur, many business owners will lose their bearings. But with knowledge and awareness, you will be different. You can stay focused and be positive about your companys strategy to offset the vicissitudes in the economy. Remember, some of the worlds greatest fortunes have been created in chaotic times.

The good news is that even with the economic changes ahead, you can do just fine when youre aware, motivated, and take action.


Is Your Trade Exchange Missing Out On Valuable New Business?

If your barter companys listing on BarterNews.com isnt 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 companys listing up-to-date?

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

Heres how to get on board:

To make changes to your listing click here.

For new listings click here.


* * ANNOUNCEMENT * *

We have packages of back issues still in print, approximately 30 issues in all.
To order: Click here


Turning $40 Into Millions Good Company Stock + Patience

This is a story from famed Omaha financial guru Warren Buffett when he was asked how people can still become wealthy, starting with very little money. He uses the example of Coca-Cola, affirming that one must focus on investing in a good young company (one with longevity), rather than being concerned about the timing (buying terms) of the stock.

Buffett noted that if one had purchased a single share of Coke in 1919 for $40, holding the stock ever since (enjoying the multiple stock splits) and reinvesting all the dividends, then todays valuation would be $5 million.  (Obviously this is almost one-hundred years, thus would have had to be passed down for generations.)

Another more realistic way to profit would be to follow his advice during the recent financial crisis, by adhering to Buffetts favorite investing maximum:  Be fearful when others are greedy, and be greedy when others are fearful. 

He pointed out that during a months long stretch in the fall of 2008 the average investor could have done extremely well in the stock market, if they had bought during the panic period; once again reiterating, You make your best buys when people are overwhelmingly fearful.


Money-Making Reports Available From BarterNews


INTRODUCTION: Baseball, as a metaphor or analogy, can teach us about many things. Hitting a home run, could mean making a big sale in the business world. Reach for the fences, inspires people to achieve their dreams. A ballpark figure, allows for a broad area of approximation. But can baseball really be used as an analogy for the retail industry?

 

Industry thought leader Mark Ryski shares new and innovative techniques for extracting powerful insights from basic store traffic and customer conversion data, delivering a game-changing look at this crucial retail information.

The Trouble with Traffic What Retailers Can Learn from Baseball

By Mark Ryski

When a retailer is asked if traffic is up or down, theres a very good chance that the answer provided actually refers to the stores transaction count or what is sometimes ambiguously referred to as customer count. No one seems to probe on this, so by default transaction count has become an acceptable proxy for store traffic count. But theres another rub: transaction count is not the same as traffic count.

Transaction Counts Vs. Traffic
Counts Hits Vs. At-Bats

To say that transaction count represents a reliable proxy for store traffic is analogous to saying that hits are a reliable substitute for at-bats in baseball. Yes, the two stats are related, but they are not interchangeable not even close.

If baseball statisticians only tracked hits, without considering at-bats and batting average, how much less would we understand about the greatness of players like Ty Cobb or Babe Ruth? A lot less. The same is true for retailers. Transaction counts (hits) may be up, but knowing if it was a result of an increase in store traffic (at-bats), or that the retailer was more effective at converting the store traffic is an important distinction. This is not a subtle point. Heres why.

Why Store Traffic Matters

Store traffic is a measure of all the people who visit the store, including buyers and non-buyers. Traffic is a leading indicator that tells us something about a chains sales opportunity more traffic, more opportunity. If traffic is trending up, this is clearly a positive sign. It suggests that the brand is in favor and opportunities abound. The converse is also true. If store traffic is waning, this is disconcerting and it could indicate that the banner is falling out of favor. The number of sales opportunities is decreasing.

The problem with relying on transaction counts as a proxy for traffic is that they could be going up regardless of whether actual store traffic is going up or down. To understand this apparent paradox, you need to consider the retailers batting average.

Conversion Rate Retail Batting Average

As mentioned, store traffic count defines the sales opportunity and is analogous to at-bats. Transaction count represents buyers only and is analogous to hits. Therefore a retailers batting average, or conversion rate, is calculated by dividing the transaction count by the store traffic count just like in calculating batting average.

Store traffic and conversion rates tend to be inversely related. When store traffic falls, associates are able to deliver a higher level of service, check-out lines are shorter, and generally its easier to buy. The transaction count often goes up, despite the fact that there is actually less traffic in the store.

In this case store traffic didnt increase, but if the retailer only has transaction counts to rely upon, then he reports traffic is up. But its not. And yet all parties, the retailers and the inquisitive analysts, seem to tolerate the ambiguity.

Dont Ask, Dont Tell

One Wall Streeter told me that you cannot ask a retailer about traffic counts, if they dont track traffic in their stores. True, but you also cant have two definitions for this basic metric either. If you want to ask about transaction counts then ask for transaction counts, and if you want to ask about store traffic, then ask for store traffic. This shouldnt be open to interpretation.

There is a simple way to inject clarity into what has become a convoluted question. Instead of asking retailers if it was ticket or traffic that drove results, analysts should ask if it was ticket, traffic or conversion. Most retailers dont track store traffic and so wont be able to answer. But at least it will be clear that they dont, and you will know they mean transaction count which on its own tells us little about what drove results.

As for the retailers who do track store traffic and measure conversion rates, you will have a much deeper insight into what actually drove sales results. Maybe retailers, and Wall Street, need to take a page out of the baseball playbook.

(Mark Ryski is the founder of HeadCount.com and author of Conversion: The Last Great Retail Metric and When Retail Customers Count.)


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

There are many forms of secondary capitalwhich 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.


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