Tuesday, June 11, 2013
That Ancestral Feeling
In a world in which we are all so socially connected we are loosing the most important ingredient in the recipe to have a good client following. We have forgotten that fuzzy warm feeling that we create when we talk to each other or when we shake hands or just know our customer. We are so involve with our blogs, twitter, Facebook and company that we forget that people still prefer to do business with people they know. When you barter you have that human contact. That ancestral feeling of doing the deal right because it will mean that you are doing business with your neighbor. I know it is old school. But it works.
Tuesday, May 28, 2013
Benefit of Bartering
<h1 style='margin-bottom: 0px;'><a href="http://www.wikihow.com/Benefit-from-Using-Barter">How to Benefit from Using Barter</a></h1>
<b><i>from <a href='http://www.wikihow.com/Main-Page'>wikiHow - The How to Manual That You Can Edit</a></i></b><br/>
I could write a book about this subject. Recently, I was filming an informational and educational package about bartering and I was ask by the director to give the three main benefits of bartering. By the tenth or elevenths take I screamed "THERE IS ONLY ONE BENEFIT TO BARTERING (insert foul language here), MORE SALES". Obviously, I over simplify my answer to the director. So, it got me thinking about this issue.
After some soul searching this is my attempt to codify some of the benefits of using barter or trade.
<ol><li>CONSERVE CASH: Barter helps you and your business conserve cash by using trade dollars to obtain what you want or need. Trade dollars are credited to a trade account in the trade/barter exchange, which can then be spent on any item or service desired from within the network.
</li><li>INCREASE EXISTING BUSINESS: The barter exchange markets your business to other member businesses in your member directory, through weekly email blasts and through their Trade Advisers. Your business gets incremental sales from buyers looking for barter opportunities within the network. You can improve cash flow by increasing sales and reducing costs. Participating in an exchange does both! Trade enables you to pay for the products and services you need with what you have. When you hire a contractor, paint your office, or buy office supplies with Trade Dollars, you conserve your cash to pay for other expenses. And, when you purchase using Trade Dollars, you pay for it with revenue from new sales - sales that you probably would never have had.
</li><li>CREATE NEW BUSINESS: Every business owner has excess inventory, production, capacity or appointment time. That unscheduled appointment today has zero value tomorrow. When you join a exchange, it provides you with new business to put your excess to use in profitable ways. They accomplish this, by matching your product or service with businesses looking to purchase them on trade. “Word of mouth” is the number one source of advertising for small businesses and if you do a good job for a exchange member, they will refer their cash-paying friends, customers, family and other businesses to you. In addition, trade revenue from the incremental sales that the exchange will bring you, will attract more cash customers and build your brand and create new business by allowing you to advertise via television, radio, print, online campaigns, and direct mail.
</li><li>WHOLESALE BUYING POWER: With an exchange, the real cost of the goods you purchase on trade is actually the wholesale cost of your Trade Dollars earned. Making sales with built-in profits makes the cost of your purchases more economical on trade.
</li><li>MOVE INVENTORY AND FILL IDLE INVENTORY TIME: Trade allows you to improve inventory management. By converting excess products into valuable goods and services. If you trade, you avoid having to liquidate excess inventory through drastic discounting. If your small business experiences seasonal markets, trade provides a profitable way to use the inventory on a regular basis. Using a trade exchange provides a system to put that excess to use in profitable ways.
</li><li> EMPLOYEES INCENTIVES: Trading is also a great way to offer bonuses, contest prizes, wellness programs and tickets - all available to you without using cash, and all based on your cost of the incremental business that the exchange has brought you. For example, by using a trade exchange dentists, you can provide a much appreciated benefit to employees without having to pay cash for it.
</li></ol>
<p>
<i>Article provided by <a href="http://www.wikihow.com/Main-Page">wikiHow</a>, a wiki how-to manual. Please edit this article and find author credits at the original wikiHow article on <a href="http://www.wikihow.com/Benefit-from-Using-Barter">How to Benefit from Using Barter</a>. All content on wikiHow can be shared under a <a href="http://creativecommons.org/licenses/by-nc-sa/2.5/">Creative Commons license</a>.</i>
</p>
<b><i>from <a href='http://www.wikihow.com/Main-Page'>wikiHow - The How to Manual That You Can Edit</a></i></b><br/>
I could write a book about this subject. Recently, I was filming an informational and educational package about bartering and I was ask by the director to give the three main benefits of bartering. By the tenth or elevenths take I screamed "THERE IS ONLY ONE BENEFIT TO BARTERING (insert foul language here), MORE SALES". Obviously, I over simplify my answer to the director. So, it got me thinking about this issue.
After some soul searching this is my attempt to codify some of the benefits of using barter or trade.
<ol><li>CONSERVE CASH: Barter helps you and your business conserve cash by using trade dollars to obtain what you want or need. Trade dollars are credited to a trade account in the trade/barter exchange, which can then be spent on any item or service desired from within the network.
</li><li>INCREASE EXISTING BUSINESS: The barter exchange markets your business to other member businesses in your member directory, through weekly email blasts and through their Trade Advisers. Your business gets incremental sales from buyers looking for barter opportunities within the network. You can improve cash flow by increasing sales and reducing costs. Participating in an exchange does both! Trade enables you to pay for the products and services you need with what you have. When you hire a contractor, paint your office, or buy office supplies with Trade Dollars, you conserve your cash to pay for other expenses. And, when you purchase using Trade Dollars, you pay for it with revenue from new sales - sales that you probably would never have had.
</li><li>CREATE NEW BUSINESS: Every business owner has excess inventory, production, capacity or appointment time. That unscheduled appointment today has zero value tomorrow. When you join a exchange, it provides you with new business to put your excess to use in profitable ways. They accomplish this, by matching your product or service with businesses looking to purchase them on trade. “Word of mouth” is the number one source of advertising for small businesses and if you do a good job for a exchange member, they will refer their cash-paying friends, customers, family and other businesses to you. In addition, trade revenue from the incremental sales that the exchange will bring you, will attract more cash customers and build your brand and create new business by allowing you to advertise via television, radio, print, online campaigns, and direct mail.
</li><li>WHOLESALE BUYING POWER: With an exchange, the real cost of the goods you purchase on trade is actually the wholesale cost of your Trade Dollars earned. Making sales with built-in profits makes the cost of your purchases more economical on trade.
</li><li>MOVE INVENTORY AND FILL IDLE INVENTORY TIME: Trade allows you to improve inventory management. By converting excess products into valuable goods and services. If you trade, you avoid having to liquidate excess inventory through drastic discounting. If your small business experiences seasonal markets, trade provides a profitable way to use the inventory on a regular basis. Using a trade exchange provides a system to put that excess to use in profitable ways.
</li><li> EMPLOYEES INCENTIVES: Trading is also a great way to offer bonuses, contest prizes, wellness programs and tickets - all available to you without using cash, and all based on your cost of the incremental business that the exchange has brought you. For example, by using a trade exchange dentists, you can provide a much appreciated benefit to employees without having to pay cash for it.
</li></ol>
<p>
<i>Article provided by <a href="http://www.wikihow.com/Main-Page">wikiHow</a>, a wiki how-to manual. Please edit this article and find author credits at the original wikiHow article on <a href="http://www.wikihow.com/Benefit-from-Using-Barter">How to Benefit from Using Barter</a>. All content on wikiHow can be shared under a <a href="http://creativecommons.org/licenses/by-nc-sa/2.5/">Creative Commons license</a>.</i>
</p>
Monday, May 27, 2013
How to Use Barter to Grow Your Business
from wikiHow - The How to Manual That You Can EditYou do not always need money to get the good and services you need. Organize barter is a new spin to an old concept. Remember trading your peanut butter sandwich for chips in elementary school? Now you can use those innate skills to grow your business.
Steps
- Identify a barter exchange that services your area. Make sure that the exchange has dedicated trade advisers that will manage your account. Don't forget that the trade advisor will be an extention of your bussiness. He or she will be acting as your marketing arm to the greater barter community. Make sure you understand their rules and costs. Usually, you will pay 5 to 6 % of every trade transaction. Also, insure that the exchange you choose has an electronic platform that allows you to create a profile of your business.
- Sign up and start your profile. Make sure the profile is detailed and that you are as descriptive as you can be about you, your business, what you offer and how prospects can contact you.
- Discuss with your trade adviser your profile. Make sure he/she understands what you do and what are the special things that you can offer.
- Negotiate a line of credit so you can start bartering immediately. Depending on your business, the amount of credit that you will receive will be between 2000.00 and 5000.00 trade dollars, although I have seen businesses receive up to 100,000.00 trade dollars.
- Ask that your business be profiled in the exchange's social media and web page. Also, request that it be place on hot flashes and other newsletter and email blast that the exchange may use.
- If your exchange has a social media strategy (you should only sign up with one that has one), get involved. Post and visit their social media pages. The more interaction you have, the more business you will get.
- Through the exchange electronic platform contact other traders that belong to your exchange and offer your services to them.
Tips
- Getting payed with trade dollars is just like getting payed with cash. So audit your monthly statements to make sure your credits and debits are correct
- Use barter for business related expenses, but don't limit your self, and also use it for personal expenses. Its OK to get your hair cut or the dry cleaning done on barter
- Barter should be a part of your retirement strategy. When you retire you will still have to get your hair done or fix the roof or go on vacation
- Think of ways to use barter to incentivize your employees. Perhaps that bonus can be a weekend mini vacation or a couple of tickets to a football game.
- Think trade first. This means that before you spend cash you ask yourself if you can get it on trade. If in doubt, ask your trade adviser.
- Always be nice to your trade adviser. Honey will catch you more flies.
- Use trade for yours and your employees health care needs.
- Your second tip goes here. Add as many tip bullets as you need.
Warnings
- All barter transactions are taxable. They are consider income. If there is sales taxes in your area, then ask that as part of the transaction, that the taxes be paid in cash. (the government does not take trade dollars yet)
- Treat any purchase with trade dollars as if you were paying with cash. Ask about return policies, warranties and check the merchant you are buying from.
Sources and Citations
- http://www.irta.com/ The International Reciprocal Trade Association (IRTA), the world's leading association and advocate for the barter and trade industry
- https://www.facebook.com/TradeInternationalExchange and http://tradeinternationalexchange.net
- http://www.orlandosentinel.com/business/os-cfb-cover-barter-for-health-care-20130324,0,4338092.story
- http://firstbusinessnews.com/
- http://wsau.com/news/articles/2013/mar/20/old-business-solution-helps-solve-health-care-expense-bartering/
- http://www.floridatrend.com/article/15427/mondays-daily-pulse
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