Trade, also known as barter, is one of many tools in the entrepreneur toolbox of success. As a member of a trade or barter organization such as Tradesource, Inc., your business will build profits by conserving cash while covering expenses with trade dollars and expanding the customer base.
Because you will be interacting with customers who may not have ever used your goods or services, you are creating new lines of businesses. Trade clients often lead to cash clients. Whether you supply or demand goods and services, you will complete transactions with trade dollars, saving cash for non-trade goods and services.
When researching trade organizations such as Tradesource, Inc. ask questions.
- Not all barter associations are the same.
- Do they offer scrip for restaurants in their barter network? Scrip is the industry term for the barter bucks or currency that can be used within the barter network.
- Do they have trade brokers that work with businesses to expand through trade?
- Are there a variety of business professionals in the association? This is important for the growth potential of your business through trade as well as for your own trade purchases.
- Do they offer member networking events? Events are a great way to mix and mingle with like-minded business people and a great way to gauge the need for the goods and services your business offers.
- Are there joining fees? Ongoing monthly fees? If fees, what do they go toward? How are fees charged?
- What information do you offer to prospective members new to the trade industry? Good communication is key; if they aren’t offering information then consider other options.
Whichever trade association you decide to join, remember to ask questions, network and treat trade and cash customers with the highest customer service. Being a reasonable business person, whether trade or cash, is a key to referrals and success.