BARTERING – Why Now?
Bartering has been with us for thousands of years and has remained a popular tactic in business. We can define bartering as the act of trading a service or product without the exchange of money. In today’s Covid-19 environment bartering is something that small business owners should consider and actively pursue. No, it is not a substitute for a cash deal, rather, it can and should be used to complement cash business during challenging times.
The Why & the How:
- As small business owners we each have our own special product or service. There are people that need us, and there are people whose gifts we can use but can’t afford.
- Selectively reach out a people in your data base and suggest a bartering possibility. Make sure you have a clear statement of what you are willing to barter and its fair market value. In other words, put the word out that you want to barter and state your product or service.
- As both businesses grow the barter system may change to cash.
- Friendships and strategic alliances can be powerful results of this form of business growth.
- Long term results can be the sharing of data bases and creating a support system that benefits everyone involved.
This is just another form of marketing which you have to initiate; there is no limit to the goods or services that you can obtain through the bartering process.
Marketing is always in a state of flux and sometimes old and proved methods need to be re-used. This is the case with bartering.
Yes, I am always receptive to learning what you have to offer, and to share my offer in exchange. Looking forward to hearing from you.
Comments are closed