Bloomberg News Fabulously Successful
Michael Bloomberg, the founder of Bloomberg
News, a New York financial news and information provider, has
been pushing his $1,225-a-month data terminal to the financial
industry for almost a decade.
The current NYC major is fabulously successful,
but Bloomberg candidly admits that it was his pro-active use of
barter that enabled him to build his “brand” within the financial
community.
He did so by feeding newspapers and magazines
his data and news in exchange for publicity. Every news outlet that
used a story acknowledged and credited Bloomberg. Consequently, his
name and reputation appeared everywhere ... because of the trading
arrangement.
Virgin Label Also Built On Barter
Richard Branson, the flamboyant English showman
and Europe’s best-known entrepreneur, has built an empire of some
200 companies. With an estimated worth of $2 billion, according to
London’s Sunday Times, Branson harnessed a barter strategy
that enabled him to launch a myriad of businesses with minimal
investment.
He calls it “branded venture capital,” whereby
he essentially agrees to manage a new venture and puts up the Virgin
name — usually in exchange for a controlling interest — while his
wealthy partners put up most of the cash. This barter strategy has
helped Branson rapidly expand his brand name on a worldwide basis.
