Barter has an unlikely advocate – Nancy Lublin, the founder of Dress for Success and the current CEO (and as she likes to say, Chief Old Person) of DoSomething.org. In her recent book, Zilch: The Power of Zero in Business, Lublin urges business owners and corporate employees to think with the mindset of those in the non-profit sector – to start with zilch. Whether your business is starting with zero or has revenues with multiple zeros, Lublin believes that companies should think lean and mean, and she suggests that all business should asses their barter potential by asking the following questions:
1. Do you have excess inventory? Instead of marketing it down or warehousing it, is there someone out there who might need it for some other purpose?
2. Do you have extra space you are not using?
3. Are your people ever idle? What skills do they have that might be leveraged?
4. Are there companies nearby – even if they make baked goods and you’re an accounting firm – that you ought to talk to? Just sharing corporate pain points in casual conversation could lead to something.
5. Have you ever reached beyond your neighbors? Have you asked questions of your social networks, like LinkedIn?
When you exchange in business barter without using a network, your business is liable to a variety of challenges that could ultimately backfire. Here’s how a business barter network can make your trade even more valuable:
Solve Your Tax Issues
One of the best benefits of a barter network? Your accumulation of barter dollars and your trades are documented. Your business is invoiced every month, making quarterly tax filing simplified.
Always Get Your Barter Back
Without a barter exchange, you put yourself at risk when you barter with a company that is in trouble financially. If that company goes under, you lose your barter investment. When you barter within a network, no matter what you decide to trade, you have thousands of member businesses where you can use your accumulated barter dollars.
Keep the Value of Your Trade
Your barter dollars are linked to the goods and services you provide. If you’re trading computer repair services for uniforms, how do you know if you’re getting a good deal? With a barter exchange, you name the price of your trade so that you will always get a fair value on the goods and services that you provide.
Expand Your Network
When you join a barter network, your network is instantly expanded. In addition to thousands of businesses that you can barter with, you have instantly expanded your network and have access to marketing opportunities within the network.
Does business barter make sense for your business? Barter with confidence using Global Barter Network.
Ian Kleinfeld of Mishagos Design has always been known as “the creative guy.” No matter what job he has held, he eventually started taking on the creative work around the office, from designing fliers to writing copy. Kleinfeld eventually found himself working full-time in the advertising industry where he perfected his design and copywriting skills. When Kleinfeld was unexpectedly laid off, he saw the situation as a chance to start his own business. His first venture sold Kleinfeld’s original designs on bumper stickers and t-shirts. Eventually, Mishagos Marketing and Design, Kleinfeld’s current business, evolved. Today, Mishagos Marketing and Design offers clients both web and print design and marketing strategy.
As a business owner, Kleinfeld became interested in barter after making a move and he wanted to build up his business in a new location. The timing was also right. The economy was down, and Kleinfeld had more time to work on various projects. He had casually bartered before, but had never used an exchange. Kleinfeld was willing to give GBC membership a try. “It made a lot of business sense to turn his down time into profits,” he says. Kleinfeld started out creating collateral marketing materials for GBC and eventually redesigned the GBC website.
Now a GBC member for a year, Kleinfeld has bartered so many different items, it’s difficult for him to remember all of the trades he has done. He updated his home with a wide screen TV and a home theater system. When he travels, he barters free hotel rooms and meals out at restaurants. And food is his favorite trade. He loves to dine out and says he has spent much of his barter at local restaurants. “It feels like you’re getting a free dinner,” he says.
Often companies wonder “Can bartering really help my business?” Of course it can! Did you know that over 450,000 businesses in the US are using barter not only to gain market share, but generating cash business from it?
How are they doing this? It’s all about your network, and quality of service you perform. For example, when you perform a good job for a client on barter, they are going to be more inclined to refer you to a cash client. It happens all the time.
Additionally, you can spend your bartering dollars on marketing initiatives to are designed to increase cash flow. Marketing efforts available on barter include print advertisements, billboards, search engine optimization, and even radio ad’s!
GBC has the power to:
- Bring you new customers
- Increase your sales
- Preserve your cash and improve your P&L
- Bigger market share with worldwide exposure
- Buy what you need for cents on the dollar
For more information on how to grow your business with Global Barter Corp, contact us today. We are rapidly growing across the United States, with major markets in New York, Chicago, Miami, Atlanta, and many more!