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Michael Frenkel was sitting in the midtown Manhattan office of a non-profit he hoped to snare as his second client when they dropped the bomb: His PR skills were just what they needed, but … they had no money.
Out of the corner of his eye, Frenkel saw an unused space. He turned to the executive director and said, “You do have something I could really use:� Office space. To Frenkel, if you’re in PR you have to be in New York, in the thick of the action. But as a nascent startup in 1999, he couldn’t afford the cost of midtown real estate.
The non-profit agency gave him a chi-chi address to legitimately print on business cards, and in return Frenkel did their PR and marketing. It was a mutually beneficial swap, and it happens in business all the time, even when cash isn’t an issue.
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