“Control
your expenses better than your competition. This is where you can
always find the competitive advantage.”
—Sam Walton, founder Wal-Mart stores
Sam Walton’s relentless drive to slash costs led Wal-Mart from a
single store in Arkansas, to over 8,000 stores today. As explained
in his auto-biography, Sam Walton: Made In America, he did it
by understanding that you find your niche by ignoring conventional
wisdom. .
In his book he emphasized that “you can make a lot of different
mistakes and still recover if you run an efficient operation. Or you
can be brilliant and still go out of business if you’re too
inefficient.” Like Walton, an incredible number of today’s
entrepreneurs start out underfinanced and undercapitalized.
In fact, a recent statistic from the U.S. Census and Federal Reserve
Survey shows that “almost half of all new businesses begin with less
than $10,000 in total capital.” Using your trade exchange to make
needed business purchases will enable you to gain that all-important
competitive advantage Walton referred to.
Moreover, your barter sales are all new sales — from an entirely
different source. They provide a young company with a valuable
stabilizer, enabling the time to grow into, and become, a stronger
company.