Small businesses need to always be on the lookout for ways to save money.  What we can’t do is cut expenses to the point that it has an effect on our customer’s experience.  We all know doing this will only hurt our business.  So what can we do to save some cash but not effect our customer?

Let’s look back to the days of  the wild wild west.  When town meant a general store, a saloon and a blacksmith.  It meant trappers, seamstresses and farmers.  There were plenty of people to provide goods and services for others but not everyone had cash all the time.  Most could probably count on the general store to carry a tab for them until their next payday.  But, what if what they needed was not at the general store.  They had to find other ways to survive.  A common practice back then was to barter.  They would trade goods and services with each other.  Cash may or may not have been part of the equation but each received something that they needed.

Bartering is a great way to exchange services with another small business to meet a need for both parties involved that doesn’t necessarily require cash.  If the value of the services differs greatly, then at least the cash side of the deal could be reduced.  Steve told me that in his home town, a guy used to trade his services for free meals for him and his wife at their favorite restaurant.  How great is that?

If you have a hair salon and you need electrical work, think about bartering.  Maybe you are a web designer and need some construction done, see if there is something that can be worked out.  The possibilities are endless.  It’s just a matter of finding the right fit.  You have to find the person that provides what you need that has a need for what you provide.

Would you be willing to barter?  Let us know your thoughts or experiences on this.

For information regarding tax reporting for barter exchanges, please read this post.

Photo Credit:  pour paint

Last night I watched a show called “Kitchen Nightmares” with Chef Ramsey. The show was kind of a “then and now” type show. He went to three restaurants that were on the verge of closing their doors. Of course, he offered them his words of wisdom, made several changes and then left them to run their business. After a few months, he returned to see how each was doing. Fortunately, this group of restaurants all took his advice and upon his return were doing well.

What I found interesting though, is that while all of the restaurants had several problems, they all had one in common. They all had one person that was not doing what they were supposed to and it adversely affected the entire operation. So much so, that these businesses were about to close their doors.

Care to take a guess as to who this person was? It was the same person at all three restaurants. Give up? It was the manager and in each case the manager was also part owner. They all were very aware their business was doing badly but the problem, in their mind, was with someone else. In each case, the morale of everyone working in the restaurant was very low and this affected every aspect of the business including the customers. No matter how hard the other owner or owners tried to compensate for this person, they could not change the situation. It took a third-party coming in to evaluate the situation and confronting the people head on before they could see what everyone else in the business already knew.

In a previous post, I spoke about how we could train ourselves to spot quickly things that we are aware are common problems throughout the day. We also have the ability to block out problems. To allow ourselves to get so stressed, so wired up that we really can’t see anything.

In each of these cases, one person forgot that they were part of a team, part of something bigger than themselves. We all need to remember that we are not alone in our businesses. Even if our business is a “one-man operation” so to speak, we are not alone. Each of us has a team. It’s our suppliers, our customers, and our network. They are all part of our team and should be treated as such. Once these three people realized that, their businesses were able to turn around. Everyone’s stress level dropped dramatically and they began to look forward to going to work. That’s getting back to basics.

How’s your team? Is it everything you would like it to be? Maybe it’s time to step back and take a good look around you. Then, go develop the most awesome team you can possibly develop. It will pay off, not only for you but for everyone on your team.

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