I’ve seen discussions in quite a few areas about building a business with a small budget. I’d love to talk about that here - because I know what it was like to start out and need to spend almost nothing. I also
talk to many entrepreneurs in this situation.

One option is bartering - now - there are some things with a barter that I think must be taken into account.

First and foremost - make sure you REALLY know the person you’re bartering with. It helps if you already have a relationship of some sort with someone before you enter into the barter.

Also - it’s a good idea to have a written agreement and really go over the details. If you’re going to be exchanging services, you want to make sure that both parties are receiving equal value.

Another good thing to do when approaching bartering is to have a deadline to review the agreement. Maybe barter for 30 days to start and then re-visit the agreement.

I’ve seen a lot of successful bartering - but I’ve also seen it go very wrong and end up hurting both people. So make sure that when you set up an arrangement like that, you have all your ducks in a row and everyone knows the deal.

I would love to hear creative ideas for using money wisely in your business, and also obtaining services on a budget.

This entry was posted on Wednesday, September 5th, 2007 at 11:05 am and is filed under Strategy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.