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Businesses can always use a little cost-cutting here and there. As a budding business owner, you may have had times when you were REALLY aware of all your costs and have to tighten your belt every now and then to ensure that no cash 'goes out' of your business. One avenue however, that you may not have considered is business bartering.
To 'barter' refers to a process of trading goods, products and services for other items. As such, with business bartering, you can still get that new PC you really need for your business in exchange for products you sell or even for services you provide. For instance, say you are in the business of web site designing.
A former client or even a friend of yours may have been toying with the idea of putting up a website. As such, why not offer setting up a website for him for free in exchange for a PC or other office equipment you need? this is the beauty of business bartering, nobody loses because everybody is exchanging something that both deem to be of value.
Business Bartering Online
When 'bartering' comes to mind, people often have thoughts associated with trade or face-to-face exchange of goods. Fortunately, thanks to the Internet, bartering now has an 'online face'. This is indeed great news to any budding entrepreneur engaged in any online or offline business. Just think about it - anywhere you are in the world, you can exchange your products or offer your services for free in exchange for items or services that you need.
We here at A Touch of Business have taken a quick look online and following are some of the online places where you can start business bartering.
www.e-barter.com
The site is currently being remodeled but once up again, you can easily go to its 'Trade Floor' and see what's up for grabs. Everybody is welcome and there are no online membership fees. Anything from online marketing services to used office furniture can be traded here for a very small transaction fee.
www.itex.com
Formerly known as Ubarter, ITEX proudly calls itself as the 'online cashless marketplace'. At this site, you can post and sell items and services free of charge. Once they are sold, you get paid in 'ITEX dollars', which you can then use to buy other products and services on the site.
www.u-exchange.com
The difference with U-Exchange is that it does NOT get any transaction fees from any bartering conducted and does not issue barter dollars or currency either. This makes it a great site for those of you just starting to get comfortable with business bartering. The only downside we see is that it only currently has 4,500 members which may be small depending on your bartering needs.
Business bartering is a cost-effective yet rarely thought of solution to cash flow problems. As an effective business owner, you should explore ALL the avenues open to you to save on costs especially at the start of your business or during 'crunch' times. So explore business bartering today... before you know it, you just might get hooked!
Action Steps for Business Bartering
1. Make a list of what you NEED for your business. Don't get addicted to online bartering for no reason.
2. Make a list of what you can provide others in return.
3. Don't make quick decisions. Ensure that what you provide and what you get in return match in value.
Important Points to Business Bartering
- Look at various online bartering marketplaces before you join any. Evaluate which one best suits your business and/or your needs.
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