Much like he was inspired by Dr. Martin Luther King, I must first share that this information is inspired by the book Kingonomics: Twelve Innovative Currencies for Transforming Your Business and Life Inspired by Dr. Martin Luther King written by Rodney Sampson. The twelve currencies he shared were service, connectivity, positivity, personal responsibility, self-image, diversity, character, dreaming, openness, creativity, and courage. As you can see when reviewing these 12 items, it is no doubt that they are all assets of value to have. However, I found that they aren’t assets easily traded or bartered in the way we think of currency. So I created my own list of non-monetary currencies you can barter for things of value for your business.
Your Knowledge. I was once told that my brain was bankable. What you know has value to someone who doesn’t know it but can benefit from it once they do. A great example is to give content based on your expertise to your audience in exchange for their attention that deeps the “like, know, and trust” needed for them to buy from you later. However, you can also use your expert content to drive up the value of another business’ offerings. You can also share knowledge with other business owners in circles where you mentor each other in a mastermind. Of course, you can always use your expertise to perform the service that you sell in trade for something that you need.
Your Resources. Any resources of value can be exchanged or used as payment for something else of value. What tech platforms or software services or equipment can you access to another business in need to receive something that your business needs? How can you use the contacts in your network to benefit another business owner as a resource or a referral for business? How can your influence with your community drive value to another business? And last but not least, what can your team do to support another business in exchange for value that you need? Resources are valuable and every business needs them. Figure out what you need, who has it, and what resources you can supply in lieu of monetary payment.
Your Assistance. Small businesses are always in need of assistance with something and lending a helping hand can be met with great reward. Testimonials are huge for helping would-be customers make a buying decision. You can assist by experiencing a beta offer and leaving a review or recording a testimonial video to be used for that business’ marketing. You can assist each other by creating a joint offer and cross-selling it to both of your audiences. This cannot only bring more sales from an otherwise cold audience, but it also introduces fresh leads into your tribe to be nurtured for future sales.
Your Time. Small business owners often have more time and flexibility to invest in tasks that might otherwise require financial resources, such as marketing, research, and development in their own businesses. However, you can fill gaps in another business to complete the same type of tasks even if this isn’t the expertise that you sell as a business. You can also use your time to volunteer for charities that can push traffic or other value your way.
What to know what you have of value that you can barter for what and with whom? Let’s talk. It’s FREE. ShaCannon.info/talk