Barter opportunities sometimes occur that are simply staggering–and the resulting payoffs are so incredible exhilarating. Yes, the odds against such success are large, but when everything clicks and falls into place…WOW!

So consider bartering your expertise. As you will see by this example, specialized knowledge is valuable and certainly barterable, as the following story shows.

In 1960 retired Exxon geologist, Lewis Weeks, made the trade of his life with an Australian steel and minerals company, Broken Hill Proprietary (BHP). Weeks was able to trade on his vast knowledge and geological experience, wherein BHP okayed an agreement to pay a 2.5% royalty on everything Weeks found for BHP.

Because Weeks was a geologist and not a lawyer, he called an attorney friend who had worked with him at Exxon. Paul Temple, consequently, drafted a three-page royalty agreement between Weeks and BHP. Weeks “bartered” for Temple’s services, agreeing to give him 20% of any deal. Weeks then went to work.

He subsequently advised BHP to drill in the stormy Bass Strait, between Melbourne and Tasmania. With the first well drilled BHP found the largest oil-field in the Southern Hemisphere!

Both Weeks and Temple have profited handsomely from their barter agreement…the income on that royalty has amassed $40 million a year for thirty-five consecutive years!

To learn how to become a barter expert you will want to get a hold of the BarterNews FastStart Program: FASTSTART

This entry was posted on Saturday, January 19th, 2008 at 9:20 am and is filed under From the Desk of Bob Meyer. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.