Are you wasting your time with Empty Opportunities?
Posted by Teresa | Under Finding your Target Market Wednesday Nov 7, 2007Do you recognize this scenario?
Friend/Business Acquintance/Fellow Entrepreneur: Hi! Teresa, thank you for taking the time to meet with me today.
You: Sure, I was glad to take the time to help you. So, how am I able to help you?
Friend/Business Acquintance/Fellow Entrepreneur: Well, you see, Teresa, what I really need help is with my <task> but I don’t have any money to pay you right now. However I am willing to barter my services for yours.
OK…hold the presses! This is where things can be a bit tricky. Especially if you don’t have the money to pay the other person for their services either.
And that is where this very important, often neglected, phrase comes into play–> you can barter ONLY if there is a WIN-WIN situation for BOTH parties involved.
Because if you go into expecting something to happen after you have done some work and then you don’t receive anything in return…that is not a good place to be in. The business relationship becomes strained and then neither of you are happy.
Here are a few rules to use so you don’t waste your time with EMPTY opportunities:
1) If this situation comes about–make sure there are NOT any empty opportunities for either party.
2) Have the conditions in writing, either by email or contract.
3) This way everyone is aware of their tasks and expectations are in writing so there are no surprises.
4) Just be sure that you don’t sacrifice too much of your time for this barter and be sure to record your time so when the barter is done, it is done.
Now, I know we all wish to help each other out with their businesses and we have probably done this more than once ourselves when we first started out, however, don’t let this get out of control, where you are not receiving equal or fair return on your barter.
Teresa,
I so agree with you!
And the part about putting it in writing is perhaps the one aspect of Bartering that most people don’t do. While we want to trust one another, having the understanding in writing gives the agreement legs so that each party understands what the other is willing and able to do in regards to the transaction. If you forget this aspect, everyone looses.
People have short memories and this can lead to hurt feelings or worse, litigation.
Great post, Teresa! I really enjoy reading your blog. You are an inspiration.
Warmest regards,
Heidi Richards, Founder & CEO, The WECAI Network™
http://www.wecai.org
Thank you for your kind words Heidi! I just really try to post things that I think my subscribers will like to read and it is nice to know that I am doing that.
Awesome post, Teresa. I can SOOOO relate to this. I get bartering propositions all the time for my coaching.
Things get even stickier when you have a need for the service, but you don’t want to be serviced by the person who approached you.
Keep it professional and don’t accept anything you wouldn’t normally pay for, just for the sake of bartering. You’ll end up resenting the other person and do shoddy work.