Podcast Summary
Creativity and persistence led to a meeting with Gary Vee: Using unique strategies and not giving up can lead to unexpected opportunities and successful outcomes.
Persistence and creativity can lead to unexpected opportunities. A man, who is known as Canada's barter guy, shares his story of how he used a barter system to obtain a meeting with Gary Vee. He had previously tried to contact Gary through social media but was unsuccessful. So, he got creative and used his connections to trade a custom horse saddle for the username of someone who had it but couldn't use it. With the obtained username, he was able to make a deal with Gary. This unconventional approach not only worked but also aligned perfectly with his long-term goal of building a barter eBay. The story highlights the importance of not giving up and using unique strategies to achieve goals. It's a reminder that sometimes, the most unconventional paths can lead to the most rewarding outcomes.
Bartering: Trading Goods or Services: Bartering can provide full value and save inventory, but it should make up only 3-10% of a company's sales, and most transactions involve cash.
Bartering is a business strategy used by small to medium sized companies to trade goods or services with one another, often through organized platforms like Trade Bank. The speaker, who has been in the barter business for 20 years, explained how it started for him when he was young and got into sales. He met a man in the barter business in Toronto, and they did retail bartering deals, where one party had unwanted inventory and the other had a need for it. The speaker helped a winery trade their unwanted inventory for construction services and advertising, making both parties happy. While bartering can provide full value for products and help businesses save on inventory, it should only make up 3-10% of a company's annual sales. The speaker emphasized that most transactions involve cash and that their business, Trade Bank, is a small part of the overall bartering ecosystem. A historically funny trade the speaker shared was when a dentist traded dental services for a used piano.
Barter Trade: Exchanging Goods and Services with a Trade Bank Currency: Barter trade is an alternative business model where goods and services are exchanged instead of using money. A trade bank monetizes this process by using a trade bank currency, reducing business waste and capitalizing on downtime and idle inventory.
There exists an unusual yet effective business model called barter trade, where goods and services are exchanged instead of using traditional money. This was illustrated by a Tupperware lady in Saskatoon, Canada, who traded $60,000 worth of Tupperware for her home renovation. This system, called a trade bank, monetizes the bartering process by using a trade bank currency. The passion behind this concept is to reduce business waste and capitalize on downtime and idle inventory. Although it's not yet mainstream and faces skepticism, the speaker aims to promote this concept as an expert in retail barter on the Ask Gary Vee Show. Despite the speaker's initial hesitation, they are open to the idea and plan to work together to make it happen.
Directly reach audience through digital media: Podcasting and social media ads help bypass gatekeepers, engage potential customers, and expand reach. Start a weekly podcast and use Facebook ads targeting large companies' employees to reach B2B decision-makers.
Individuals and businesses can bypass traditional gatekeepers and reach their target audience directly through digital media, specifically podcasting and social media ads. The speaker, who has successfully helped businesses reach a business-to-consumer market, recommends starting a weekly podcast and using Facebook ads targeting employees of large companies to reach decision-makers in the business-to-business market. By creating engaging content that addresses the pain points of potential customers and encouraging employees to share it with their higher-ups, individuals and businesses can effectively leverage social media to expand their reach and grow their network.
Considering a Retail Wine Store Investment in Niagara, Canada: Exploring investment opportunity in Niagara, Canada retail wine store. Importance of understanding complex liquor laws.
An opportunity to invest in or own a large retail wine store has been presented, and the speaker is considering exploring this possibility despite the complex legal liquor laws. The potential business is located in Niagara, Canada, and will not only operate as a winery but also sell retail wine. The speaker plans to arrange a meeting in Toronto in February to further discuss the opportunity and is encouraging listeners to leave a rating on iTunes to help spread the word. Additionally, the speaker emphasizes the importance of understanding and adhering to the legal liquor laws when considering such an investment.
