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Bartering: Never Leave Money (or Expertise) on the Table Again

Bartering: Never Leave Money (or Expertise) on the Table Again

Funding is always a primary objective of the pitchfests, but expertise and advisory services can often be a key need for entrepreneurs...

This month I had the fantastic opportunity to participate in two pitchfests in two days. The first pitchfest focused on apps created by a dozen groups of 9th graders and at the second I judged innovations at #WomenColorTech.

Funding is always a primary objective of the pitchfests, but expertise and advisory services can often be a key need for entrepreneurs.

One person finds it painful and awkward to ask directly for funding or expertise in pitch settings, but another has no issue at all with making the ask.

What’s the difference between those who ask with ease and those who struggle?

 One key advantage for the former is they understand how far bartering can go, especially as it relates to receiving business expertise.

 Barterers enter conversations knowing what a potential advisor’s needs are and are willing to serve those needs.

 For example, barterers offer to serve potential advisors by opening their most powerful and knowledgeable networks to them.

Additionally, barterers may provide technical expertise in exchange for the advisor serving on an advisory board, or providing expertise on a specific project.

 'Barterers enter conversations knowing what a potential advisor’s needs are and are willing to serve those needs.'

 For entrepreneurs looking for expertise for their start up, provide just as much value to the relationship as the person who is investing their time or expertise into your business. Bartering is a powerful tool.

 Share your thoughts on how bartering services resulted in your bringing value to your advisors, while they shared business expertise in return.

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