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Consider using barter

At whatever stage your business is in, you might want to join a barter exchange. You join with a group of companies offering a variety of goods & services. But instead of billing in cash, all work is done for what are called trade dollars. You can use trade dollars to purchase all kinds of "perks" for yourself, such as restaurant gift certificates, amusement park admissions, lodging at hotels and resorts near and afar, theater tickets, etc. But you really should use most of your earned trade dollars on goods and services which will help you grow your business.
I use trade dollars for graphic design, web hosting, printing, newspaper and magazine advertising, rewards & incentives for customers, etc.
Today I did a barter job for an inn in Salem, Mass.
It was a combination of guest rooms & suites; carpet in hallways; carpeted stairs, and a few oriental rugs.
I worked there (alone) from 8AM util 1PM, left and measured out a hotel job in another city, then returned to wrap up the inn job from 4PM until 5:45.
Calculating the job at my standard rates (they had never even asked me for a proposal) the job totalled out at 1334.90. Since I spent fewer than 7 hours on the job, on my invoice I showed them the total, then gave them a 15% discount for volume. So my earnings in trade dollars were about $1135, or about $168 per hour. The barter exchange stays in business by charging between 10 and 12% on all deals they put together.

Re: Consider using barter

Hi Mark,

This is a great idea. We are going to have to give this a try as we grow our business.

Thanks for the tip,

Brian and Joline

Re: Consider using barter

Just a thought that some of you may have tried. I ran into a realtor and started talking business. He was not not very receptive,(Already has a company he recommends to clients) until I asked him if I could clean his carpet for free. Whats the catch he asked?
No catch but heres my proposal. I'll clean your carpet and you pay me for the work upon completion. For each referall you send me I'll rebate you 20% per job until you have been payed back.(This way he has incentive to honor his end of the agreement) His reply was, well I need my carpets cleaned anyway so why not.

We will see how it goes! Nothing ventured, nothing gained.
Bill

Re: Consider using barter

Assuming he continues to refer people to you, will you continue to pay him 20%?. It's probably a little higher than necessary. I usually offer somewhere in the range of 10% to 15%.

Re: Consider using barter

Mark
The 20% rebate to the realtor per job referred continues only until the amount he payed me to do his carpets are "Payed Back" so to speak.