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Old September 8, 2020, 11:13 AM
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GordonJ GordonJ is offline
Join Date: Aug 2006
Location: West Palm Beach, FL
Posts: 2,761
Default Question I didn't have time to answer, now I do.

Q. You talk of value, instead of dollars, can you give me some examples, is this like barter?

A. Yes, barter is one form of a TRANSACTION.

I break things down from the transaction back to the first step, sort of a technique I used in social work with Developmentally Challenged people, it is called backward chaining.

In business, I think of the TRANSACTION as the beginning of a beautfiful friendship (like Humphrey Bogart)...

I hope the first TRANSACTION is the start of many, and some of you have made scores of transactions with me these past 30 years.

BUT, you have to get the first one under your belt before you consider the LTV, lifetime value of your relationship.

We all know what cash, credit and debit card buying is, and many of us have used PayPal or other online ways (I like Facebook Messenger for Chatteling locally)...

But those are forms of VALUE in the MONEY lane. You can also exchange goods, services, or even any form of an ASSET can be exchanged.

All it takes is an AGREEMENT, both parties have to agree to the exchange and the value which is within the agreement.

A service provider can trade services, from a web designer to a doctor, from a copywriter to a lawyer, services are great assets to use when money is an inconvenient way to do business.

Now Barter can get complicated, and regulated, here in USA, the IRS wants to know your barter deals, when they go over a certain amount. But for all intents and purposes here, today, we won't worry about that.

So, if you are cash strapped, then you can BARTER, or exchange value to get what you need. And sometimes, an asset can be transferred from one to another so that voucher you got from the dentist for a cleaning and whitening could be used to get that website made.

You can be as creative as you want, as long as there is a mutual AGREEMENT in place; trade, barter, flip, pay, defer...whatever it takes.

But MONEY is only one of the ways to exchange value, thanks for asking.

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