HOW  THEY DO IT . . .

“Necessity is

the mother of invention.” 

—PLATO (Between 427BC and 347BC)

This quote drives every entrepreneur, scientific explorer and creative mind on Earth.  It of course holds true as well for military and quasi-military operations, cornered criminals and animals, and most homeless and foodless victims in society.

TODAY, the notion of necessity prompting inventiveness has great significance as a universal entrepreneurial hedge against economic downturn.  Businesses that will survive the existing economic traumas are those that can throw off the cloak of dismay and depression, shake themselves off, and charge forward with positive attitudes that are hell-bent on making the most of every opportunity.

WORKING TOGETHER with other businesses is a major step in that direction.  Networking with others to Barter goods and services should be a first and foremost thought for guiding daily travels. 

SHARING REFERRALS, common space, facilities, equipment, vehicles, furnishings, personnel, training, purchases and purchase discounts, databases, charity leadership roles, advertising, promotion, news release and blog site development and writing, website and online network development and content, are just some of the areas to consider negotiating.

LOOK TO BUSINESSES that are compatible and supportive to yours, or that your business serves.  Check out possible cooperative arrangements with businesses on the same floor, or in the same building, ir same cluster of buildings, or same neighborhood or town, or in the same industry, or that share some common characteristics (online retail as one example, or professional services as another).

TAKE ADVANTAGE of the opportunities to make and save money by working together.  Even competitive businesses can sometimes do this more effectively than standing defiantly alone.  Consider geographical clusterings of antique stores, for instance. 

CONSIDER New York City’s diamond and fashion districts!  Their competition alone in shared physical space/areas serves to boost business for all by bringing customers to centralized, more convenient and more price and quality sensitive shopping areas. 

CAN YOU EXCHANGE SALES LEADS?  Have you considered combining insurance coverage and benefit plans with another business?  Can the neighboring business receptionist do phone or clerical work for you during slow periods (instead of reading paperbacks?)?  Can you combine advertising time and space purchases to qualify for bigger discounts?  Maintenance services?  Supplies?  Conference rooms?

THE SHARED RESOURCES popularized by the old new business “Incubator” and “Conglomerate” concepts still work.  The only problem in realizing true economies of scale and values of barter may be YOU.  If you start with the attitude that it won’t work, it won’t. 

IF YOU START out discounting the ideas, they’ll never be more than ideas.  If you initiate discussions with others, you might surprise yourself with new-found sales and savings that could help you rise above the economic rubble. 

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Hal@Businessworks.US     302.933.0116

Open  Minds  Open  Doors

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