Bartering, or donating?

The concept is as old as trade itself. Rather than paying you in a currency, can we swap something I need for something you need?

Rarely is a complex agreement reached on the basis of currency alone. Currency is only effective at solving one type of problem, but if you think about it, there will be other things you can barter or exchange during your next big pursuit.

Some are obvious, but we tend to give them away for free:
– Time & attention
– Expertise
– Introductions
– Exclusivity
– Proof of success

The others are more obvious, but occasionally forgotten as you get closer to agreement:
– Payment terms
– Risk
– Scope
– Discount

You and your organisation will have your own list of things you can give and things you want. If it’s not written down, it’s worth doing. Expanding the list of things you might barter and collecting them somewhere means you have more value to add when trying to secure an important agreement.

While the things you barter are important, one element of bartering matters most of all. That is to recognise it’s always an equal trade. You should never give away anything, without getting something of similar value in return.

Before your next meeting, take a moment to plan:
– What am I going to ask for, and what can I give in return?
– What are the likely to ask me for, and what will I seek in return?

After all, giving things away for free is called donating, not bartering.