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Gene Marks

Gene Marks
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Author, business owner and online columnist for Forbes, Business Week and American City Business Journals www.quickerbetterwiser.com

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NOVEMBER 9, 2009 1:33PM

Business Owners: How To Get Some SWAG

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An edited version of this column appeared in American City Business Journals on November 6, 2009

 

What do Keanu Reeves, Leonardo DiCaprio and a small business owner named Jack Fremont all have in common?  Let’s see.  Keanu and Leo are mega rich.  Jack is not.  They’re both very good looking.  Jack has a mole the size of a peach on his forehead.  They both get a lot of action with the ladies.  Jack has a wife named Dolores and a dog named Clete.  But, believe it or not, there really is something in common between these two Hollywood celebs and a penny pinching small business owner. 

All three are experts at getting some SWAG.  And you don’t have to be rich, famous or have a mole the size of a peach on your forehead. Just ask Jack.

 

SWAG means something like “stuff we all get” or “stolen without a gun”.  You know, freebies.  And Keanu, Leo and Jack get a lot of freebies.  Did they save a life?  Help the poor? 

 

Nah.  In the actors’ case, they just presented at the Academy Awards a couple of years ago.  And for their efforts here’s some of the things they got:  A choice between a retreat to the Mayan Riviera or a Canadian ski vacation, (worth $2,500),  a spa day at a resort in Manhattan ($2,500), an espresso machine and cups ($600), a vintage silk kimono ($500) and other stuff.  By the way, I am not kidding here.

 

Jack did not present at any Oscars ceremony.  However, Jack gets his SWAG from consultants and service providers who want to be hired by him.  Oh, it’s no silk kimono I’m sure, but the value of the services that Jack gets for free each year is pretty comparable to those Oscar gifts.

 

Take, for example, Jack’s taxes.  He’s never entirely sure if his accountant is saving him as much as he can.  So every few years Jack calls on some other accounting firms, tells them that he’s considering a change, and asks for their comments on his returns.  He always gets some interesting ideas.  One firm recommended a creative way to save more taxes by deferring income.  When he brought this idea to his current accountant they both agreed that it would be a good thing to do.  He didn’t switch accountants that time, but who knows about the next time?

 

Jack often gets free technology consulting advice too.  Never completely satisfied with the people supporting his computer system, he often invites other competing information technology firms to come in, take a look at his setup, security, etc. and propose how to make it better.  Times are tough and these service guys are hungry.  He’s up for making a change if the proposal makes sense.  But at the very least he’s getting some free advice on how to improve.

 

Is this ethical?  Of course it is.  Jack’s a good penny pincher.  He’s not taking advantage.  He’s trying to keep his current service providers on their toes.  He’s giving an opportunity to another service provider to take the business away.  And no matter what he’s getting good advice.  Everyone’s a grown-up here.  If a competing firm doesn’t want to take Jack up on his offer they’re free to move on.

 

Now take a look at all the people and firms providing services to your business.  Are they doing the best job possible?  Are you getting the best advice out there?  Are your insurance rates as low as they could be?  Is your attorney keeping you up to speed on all the key issues that you should be thinking about?  When was the last time your employee benefits were reviewed?

 

Yes, even YOU can be more like Leonardo DiCaprio!  Get some SWAG in the form of free consulting.  Beat up on your service providers.  Come away with a few more penny pinching ways to save a few bucks.  Who knows, you might save enough to buy one of those vintage silk kimonos yourself.

 

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