“Form of Value #7: Agency”

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What is “Agency”? (Form of Value #7 of 12)

“I wish to be cremated. One tenth of my ashes shall be given to my agent, as written in our contract.” — Groucho Marx, comedian

Key Points:

• The agency focuses on marketing and selling an asset you don’t own. By establishing a new relationship between a source and a buyer, you earn a commission.
• The keys to success in this form of value are:
  
  
  
  • Find a seller with a valuable asset.
  • Establish contact and trust with potential buyers of that asset.
  • Negotiate the terms of sale until an agreement is reached.
  • Collect the agreed-upon commission from the seller.
• The benefit for sellers is generating sales that without an agency might not happen.
• Buyers benefit by finding assets to buy that the agent, whom they trust, filters for them.
• It’s critical to keep a high enough commission to make the effort worth it.

Questions for Consideration:

• Does delivering value via acting as an agent or affiliate make sense for your business idea?
• If so, what do you need to plan for to make it successful?

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