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How Barter Works for Anyone Who Bills Time

How Barter Works for Anyone Who Bills Time

If you bill by the hour, it is very easy to rack up a vanishing inventory – you could lose more than $100,000 a year! Attorneys and many other professionals bill their clients in increments of time. At the end of each day, their unused inventory of time disappears – it’s essentially lost revenue. Conversely, their additional cash cost for servicing one more client is basically zero. Many GBC attorney members allocate $20,000 or more in time or fees that would have otherwise “vanished”—and turn them into dining, luxury trips, retail goods, home furnishings and services from fellow professionals.

Don’t forget, when you purchase goods and services from GBC with your trade dollars, your basis is zero. What is the downtime in your appointment book worth the next day? Zero! When the time has past it is gone forever. So, when you are taking out your client to a restaurant with GBC Trade Dollars it is effectively costing your company zero. The same is true for that new car or furniture.

Who doesn’t want to save cash? Who doesn’t want to purchase goods and services for 30 cents or less on the dollar?  If the outlay is your cost of goods or unused time and labor, but you are trading for full retail price, you are getting a tremendous bargain. Unsellable inventory or unbillable downtime (net losses) is converted into purchase power. It’s not long before you grasp the amazing potential of GBC membership: buying what you need for cents on the dollar, increasing your business exponentially through new customers and conserving your cash resources!

NEXT: How Barter Works for an Advertising Agency


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