WHEN FAILURE IS NOT AN OPTION
Using Barter to Start, Grow, or Sustain Your Small Business
For millions of laid off, furloughed, outsourced, or otherwise unemployed workers, this current economic climate means making some difficult decisions. Faced with the prospect of retraining for jobs more likely not to be outsourced, depleting your savings while beating the pavement for another job, or trying to make a go of it on your own, this could be just the beginning of what could be a protracted journey. For many however, it is an opportunity to pursue a lifelong goal of owning their own business and for those select few “failure is not an option”. These entrepreneurs need every possible tool in order to get through what is shaping up to become the biggest restructuring of our economy since the industrial revolution. Many are also discovering that much of what was considered traditional financing for business is not nearly as available as it once was. The same can be said for venture capital and other non traditional sources of funding. There is however one method of financing that has proven time after time, since the beginning of time, resilient no matter the state of an economy. That method of financing happens to be barter!
For those individuals seeking a means of financing a new start-up business, in most cases the only true asset they may possess is their skill. Using that skill to acquire the products and services needed to start a business is a valuable commodity. You might consider bartering (trading) your skill for items like a Business Plan, office equipment, legal services, printing and advertising. The same principal applies for existing businesses trying to navigate their way through these economic times. When cash paying customers are at a premium, trading with other businesses for the product and services you need can preserve precious cash resources. It is also an excellent way to market your business and expand your existing customer base through referrals. Likewise established businesses need to continue supporting their current customers, while maintaining as much financial discipline as possible. Bartering can reduce current cash expenditures and preserve cash.
If you are thinking, “what if I don’t know anybody that has what I need”…don’t! Organized barter exchanges have been created to act as a clearing house for everything you might need to enhance your business or personal life. These are groups of likeminded businesses, willing to trade with other businesses and yes entrepreneurs for the thing they may need to start, grow or sustain a business. Businesses are paid using an alternative form of currency that can be spent just like cash with other members of the exchange. The bottom line is you don’t need cash to get the things that you want or need. To learn more about organized bartering and how it could help you start, grow, or sustain a small business please visit www.GoBarterLink.com for more information.
