Running a business takes incredible hard work and grit. Plus talent, experience, salesmanship, an instinct for what the market wants, as well as some luck and “capital!”
Of all the needs listed, the number one reason most businesses fail today is lack of capital. Tragically, most business owners still view “capital” as nothing more than U.S. greenbacks. Sadly, they’re overlooking a powerful financing and marketing tool that would enable them to build greater financial security and eliminate the typical business owner’s number one problem - lack of capital.
You Should Evaluate & Plan Your Barter Efforts Regularly
To incorporate barter into your company’s strategic plan, analyze your current cash and trade expenditures. Do so by filling out a business worksheet. One column will be for purchases paid with cash the second column for those now acquired on trade.
Then, with the help of your IMS trade broker, look for additional ways to substitute barter for the ones now paid with cash. Examine your needs for the entire year so you can plan your marketing efforts to earn a like amount of trade dollars.
A little ingenuity can often be turned into additional trade business (with IMS’ assistance). For example, use a trade purchase request, wherein you provide the exchange with an authorized purchase order for a needed product/service (payable in trade dollars). A salesperson from IMS, with your purchase order in hand, will search for a vendor to fill your request. Extend this thinking. Suggest to your present vendors that any additional business you give them should be considered on a part-trade or all-trade basis.
Work with your “aged” cash receivables when payments aren’t forthcoming by taking their products as payment. Then move them into the IMS Marketplace or Exchange. And, if you have a debt that you can’t pay now suggest to your creditor that they consider taking payment in trade dollars. (Ask them what they need and fulfill their desire through IMS)
Develop a rapport with your trade broker as well as various members of IMS. It’s “strategic time” especially when you’re depending upon them continually for the sourcing of various goods or services.
It’s always good business to spend your trade dollars on the products/services that will enhance your company’s reputation. So concentrate more on the many ways to promote and advertise your company. And, since happy employees make you money, use IMS for employee perks. Give bonuses or a raise in trade dollars.
Another way to save cash is by calling upon the specialized professionals within IMS, i.e., physicians, dentists, CPAs, etc. While “retail sales” are commonplace in our society, how often have you seen your dentist place an ad that reads: “Special this week, 50% off on all bridgework!” They rarely discount so spend trade with them and stretch your cash.
Continue to read and explore. Be creative. Talk with others about the ways they use barter to enhance their business and personal lifestyle.