In event planning and being an entrepreneur in general, I've learned 5 Forms of currency every business person should know especially in the creative industries. Here they are....
Although the bartering system isn't mainstream like years ago, it still exists today. The act of giving up one item or service to receive another of equal or lessor value pays. For example, a photographer may takes pictures for a lawyer's wedding in exchange for legal services like forming an LLC. I've had panelists reach out to work on future events. In exchange for their expertise, I am willing to make their seminars and gatherings a success. The great thing about bartering is that it can lead to exposure.
Bruno Mars didn't get directly paid for his appearance at the Super Bowl. What Mars did get was exposure which led to something over 300% increase in album sales. Taking on projects like this whether big or small allows you to reach an audience who otherwise would never be reached.
Closely related to exposure is Social Media. While the number of likes, retweets, pins, and favorites don't tell the true quality of your product or service having a large following counts towards the idea that "numbers don't lie". With that, your online presence and audience is linked to your power to influence.
It's exciting to hear about the connections made at the networking events I create. Some have gone on to make films with reality TV personalities, be accessorized by celebrity stylists and even speak at National Action Network in Harlem, NYC. Making the right connections takes you places you want to and never imagined you would go. Opportunities come in the form of human beings. When we see the value of a person including our personal network and ourselves we gain tremendously.
The old fashion form of currency and the most sort after is the dollar. Freelancers, independents, and entrepreneurs in all industries essentially have an idea they are passionate about and seek to monetize it.
So which form of currency is best? All of them. Choosing is based on intuition. Most of the Connects I've made including VH1, Hot 97, and BET were all from walking down the right block at the right time; attending a free event; or through one of my events. Regardless of which is chosen remember pro-bono never ends, know your worth,
and you never know who you are standing next too.