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I am an interior designer who barters all the time especially when money is tight in the economy as it is now.
I am usually the one giving the service to the home owner and I trade what I need in return.
Most recently I have been helping the family of an Auto mechanic make color selection, decorative paint some walls, select furniture and accessories in exchange for over 1,500. of work my car really needed.
It is important that everyone feels properly compensated. Charles (the mechanic) made sure his base line parts and labor where covered so I paid about 750.00. I kept track of my hours and billed him at 100. per hour which is my lowest going rate. When I reached the even point I sent him an invoice so he would know we are caught up and that additional hours I spent would then be banked, on the record, for future work…you know there will always be more work needed on a car!?!
I have also bartered for chiropractic services for myself and I did a HUGE barter for dental work for my husband last year, about $15,000 of services…
Jana Rosenblatt www.janadesigninteriors.com
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I have and currently used barter.
I love it!
I get my cut and color done and I Coach my stylist on her personal 'stuff'
It is an equal trade. I would have paid $110 for the service and I charge $100 for private coaching
Barter is great! Anything that keeps money in your wallet and allows people to offer something of value- it is a Win-Win
Everyone wins! That's my favorite type of deal!
Dianne Sikel
Life Coach
Phoenix, AZ
www.Life-Love-Money.com
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Speaking as a female entrepreneur, I feel that in this "sink or swim" recession, now truly is the time to be bold and find creative ways to keep businesses afloat. Now more than ever, an increased number of small business owners are relying on bartering techniques for the several benefits they offer. Apart from the tax factors addressed in your query, bartering also builds relationships with other businesses that lay the foundation for a fruitful and successful future. But, bartering is an art and to optimize the use of bartering, there are several techniques that small businesses can use, all of which I outlined in my recent article and would be happy to answer any questions about.
As President of a small business marketing consultancy and active member of the marketing community for over a decade, I understand that, especially during a volatile economic climate, it is absolutely crucial that businesses take full advantage of any and all business tools that are available. This unique opportunity must be seized in order to educate the business community as a whole.
LAUREN PERKINS, Perks Consulting, www.PerksConsulting.com
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I am Dr. Robert Levine, optometrist, with offices in Libertyville and Lake Zurich (IL), and I believe I would be an ideal candidate for the blog on bartering.
I am a member of ITEX, the nationwide barter community that currently has 24,000 members.
My ITEX member patients pay for my services with barter dollars which are put into my barter bank account. I then spend it to pay for products and services I normally would have to pay for with cash. I have conserved perhaps $30,000 to $50,000 in a variety of ways.
I use these barter dollars on hotel rooms, limousine services, and meals when I travel to business conferences and trade shows. I have painted and carpeted my offices. As well, I have conserved thousands of dollars on personal spending such as:
- Remodeling our kitchen, saving around $5,000 in labor (as in most major trade transactions, product and material is paid for with cash).
- Upgrading our bathroom with the installation of granite countertops.
- Repairing the roof on my home.
- Landscaping my yard.
- Taking my family to many restaurants
- Taking my family on vacations and staying at barter hotels and resorts
I use the cash I conserve by bartering to pay my mortgage, utility bills, car payments, etc.
Dr. Robert Levine OD
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As a budding solopreneur, I have found bartering to be a cost-efficient arrangement to give my expertise to someone while getting something I need for my business at the same time.
I used to edit an e-newsletter in exchange for the author’s eBook (very practical information for beginning copywriters).
I am currently bartering some marketing and editing for group strength training classes with a local personal training studio.
I have even partially bartered with my graphic designer in exchange for me baking cookies or a cake for he and his wife.
The best way to get started is to make a list of what you need for your business. Make a list of what you can offer other businesses. Start emailing or calling to get a feel for who is willing to barter. Get it in writing.
Michelle Hill
Winning Proof
www.winningproof.com
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I run a video production company in San Diego and have been bartering quite a bit lately. Currently I am:
- Creating a documentary for my chiropractor in exchange for free treatment twice a week
- I've produced an infomercial for a local health food company that is now providing me with their foods at cost and taking my purchases out of their final bill
- I'm doing reduced-pay work for a local client in exchange for use of their video equipment, studio, and editing suite whenever I want, so I no longer need to pay to rent additional equipment for other projects
- And my latest goal/challenge since my current townhome lease is up at the end of August is to find an apartment complex or a hotel who would like to trade the month of September of free living in exchange for a promotional video. We'll see how that shakes out.
New Focal Media
www.newfocalmedia.com/blog
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I am a sole proprietor business and help small businesses with the marketing programs. There is a beef farmer at my local farmers market who was sending out emails to her customers about the specials of the week. We struck up a barter deal – I write professional newsletters for her (using Constant Contact) and she “pays” me in beef! I am stocking my freezer and she is increasing her sales and customers.
Sally Berry, CMP
President
Bristol Creek Tourism Consulting
www.bristolcreekconsulting.com
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I barter my PR and radio show services for things I need. e.g. landscaping. painting, driveways, hurricane shutters, etc.
barry r. epstein associates, inc.
public relations * marketing * etc.
web site: www.publicrelations.nu
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I barter my services to a variety of businesses nationwide. Some of the services and products I've bartered for include personal coaching and high-end skincare products.
I got into it through Business Helping Business's Needs & Haves list. I connect with other entrepreneurs to barter with using that list.
Andi Enns
Public Relations & Marketing
Web: http://www.AndiEnns.com
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Hi, we do barter fairly frequently and it has absolutely saved us a ton of money, as well as allowing us to do or get thigns that we would normally haven’t done.
1. We do barter with our mechanic (we were existing customers) and he has taken great care of us and saved us a ton of money as well as generally relieving us of having to worry about things like how much something costs etc.
2. We do barter with a lawn care service in exchange for developing a website and internet marketing help.
3. We are doing barter next week for our vacation in Northern Michigan – doing a website for a week in a condo.
4. We did in the past and are going to do again, barter for SEO work in exchange for the IT person taking care of our server.
James Hills
President and Chief Marketing Officer
mhn PR & Internet Marketing http://www.marketinghelpnet.com
********************************************************************I'm the co-founder of Recessionwire, a site that provides news, advice, humor and perspective about the recession. We launched the business in February, and did some bartering to keep our costs minimal. One partner did some editing in exchange for tech work, I discounted some book editing work for someone who helped us think about our business plan.
Sara Clemence
Co-founder
Recessionwire
www.recessionwire.com
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I am self proclaimed bartering diva. I guess it's because I'm not afraid of the big ask, and know that good value is always worth the trade for good value. When I started my career in advertising, trade was a big part of our compensation package. I got in the habit of eating at the best restaurants for nothing more than a good tip and real value in return.
I am now the publisher of a business magazine and still follow my early penchant for barter. It doesn't always work out the way you had hoped, but in the end it works out fine.
What have I bartered for:
Bookmarks and posters for an event promotion ($225 value); expo exhibit stands ($1000 value); a portable kiosk ($700 value), sponsorships at a green expo ($5000 value), golf tournament ($3,000 value), business expo (#2000 value), event catering ($15000 value); a birthday part at a VIP suites ($600 value) with a limo ride ($200 value) dinner ($500 value); hair styling ($2500 value); massages ($500 value); courier services ($24000 value) ... and that's just the fist six months of the year!
I heard of someone who has bartered cars, homes, vacations, and cruises. Those are my aspirations!
Janie Pritchett-Clark, Publisher
HOO KNOWS® Biz2Biz NWA
http://www.NWAB2B.com
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Chief Stripe Changer (love your title!) and master barterer here. I am a small business owner and a woman on a mission to get America back to work (in a job that's right for them, for Pete's sake! Not just a job!). I have dipped into my life savings to pursue this dream of mine ... And I am shameless about bartering! I am especially well-known to barter with my talents around job hunting. I am doing it right now with a marketing pro. I get him to work, he helps me get my job hunt coaching system out there. I helped an executive director get her dream job. She is going to stand as a testimonial for my program.
Catherine Byers Breet
Chief Stripe Changer | Job Hunt Coach
ARBEZ™
www.jobhuntworkshop.com
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I have a jewelry business www.tumbleweedbeadco.com and I do alot of bartering. I have traded jewlery for web designs, home decor, spa services. Most recently I traded for pre-natal yoga and massage. I was pregnant with twins and put on hospital bed rest at 33 weeks. I was able to trade jewlery with a massage therapist to get massages every other day. They totally saved me!!
Jessica Russell
Tumbleweed Bead Co
www.shoptumbleweed.com
www.tumbleweedbeadco.etsy.com
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I've successfully bartered my PR services in exchange for a new company web site and for hair salon services.
I'm an independent publicist. Here's how I did it:
1. My friend Walt offered to build me a new web site if I'd promote his new novel. We agreed, with no money or values discussed, and our endeavors on each other's behalf are still underway (he has almost completed my new web site, and his book is coming out Sept. 15).
2. Joey, my longtime hair stylist, asked me for promotion/marketing advice when he opened his own salon earlier this year. I offered to trade my services in exchange for his services: haircuts, styling and coloring. He opened his new salon in March, and my PR work on his behalf resulted in him being awarded the "Best of Philly 2009" award for "Best Stylist - Long Hair" just yesterday. For that arrangement, we did discuss how much my services would normally cost him, in order for him to gauge how many visits to his salon would be covered.
Elise Brown - Drummer PR LLC
elise@drummerpr.com
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My being a prenatal massage therapist has proven to be a great exchange for barter. I am currently working on putting together a website all about pregnancy and postpartum. There was no way at this time i could afford to pay for someone to put the site together for me, with all the ideas i had in mind, including videos, estimates were in the thousands!
I was introduced to Dominic through a friend, Dominic not only is helping me put the site together but also doing the filming and editing of the videos. Dominic's wife just happened to be pregnant, perfect timing; Naomi, Dominic's wife received weekly prenatal massages while i had another therapist who works for me massage Dominic every week. The baby is now 5 months old and Dom and Naomi are still getting their weekly massages. My baby the web site massageamom.com is still in the works, but i am close to pushing it out so to speak.
My next concern was how to market the site? I surely did not have the budget for marketing. Low and behold a former prenatal client who was trying to get pregnant again came back into the picture. Maria called all stressed out, she was trying to get pregnant, she had a miscarriage in Dec. and knew her stress level would just make the process even harder. She told me she had quit her high paying job and went into business for herself, adding more stress. When i asked her what she was doing i swear my knees almost collasped! She started her own on-line marketing firm! Talk about Divine Timing!!
Anyway happy to report Maria is almost four months pregnant, and every week i massage the crazy right out of her in exchange for her time in promoting my web site. I have a feeling i will be bartering massage for along time with these folks and happy to do it. Now if only i could find someone to barter with to clean my house and cook my meals i would be set! MaryLou aka Massageamom
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I am an entrepreneurial PR maven who works full-time at a radio PR firm, but aspires to go independent with my business, Mpact Communications, by 2011. I currently moonlight as a PR consultant for Mpact Communications, and have been bartering services with Julian B. Kiganda, President of Vibrant Design Group (VDG) (www.vibrantdesigngroup.com).
We were introduced by a mutual friend through LinkedIn. I make sure to include my maiden name --Batambuze-- on my LinkedIn page, so my profile caught Julian's attention for two reasons: 1) she recognized that my last name was Ugandan like hers and 2) she'd been seeking out PR professionals for her marketing design firm, VDG, which specializes in branding for culturally diverse audiences.
After a few email exchanges, we had a lunch meeting and hit it off! She immediately hired me to run a focus group for one of her clients, and after successfully completing this project; we were set on developing a relationship where we could barter services.
Julian's focus was on having someone who could dedicate themselves to doing on-going PR for her company. She founded VDG in 2000, but so much of her efforts focus on client-work, that self promotion for her company has always taken a backseat. Whereas in my case, I have gotten my feet wet doing PR and marketing consulting jobs, but needed a real designer who could create an entire brand for Mpact Communications from soup to nuts, including a logo, tagline, web site, business cards and letterhead. We drafted bartering contract agreements for each other and have begun work. And, as I continue to draft my business plan, Julian has pointed me toward resource centers and programs that she utilized when she launched VDG, as well as offering to review/provide guidance on my plan.
Furthermore, I recently returned to work after being on maternity leave for nearly three and a half months. Mid-way through my leave, after getting a handle on motherhood, I began to dedicate time to working on my business plan and Mpact projects. I wrote a press release for VDG, positioning Julian as a multicultural marketing expert, because she had recently been featured on a panel discussing a study entitled, "U.S. African Consumer Segment." I secured interviews with American Urban Radio Networks, which has 300 affiliates nationwide, a local newspaper, an African monthly publication and an online social media company that prides themselves on being the "black youtube." Additionally, a strategic partnership was formed with the founder of the "black youtube" who would like to utilize both of our services.
I am very excited about receiving a professional image for Mpact in exchange for my services-it is not cheap to develop branding materials. As I mentioned before, I'd like to be independent by 2011, and I can better attract clients when I have a professional company image that matches the quality services that I provide. And, with the state of the economy and the expenses of a newborn child, I am able to supplement my income when I take on paid projects with VDG's clients. We have also benefited from each other's encouragement and networks and constantly look for ways to improve our respective crafts.
Jacqueline Lara Mpact Communications www.mpactpr.com
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My name is Jordan Mallah and I am a full time yoga teacher in NYC. I barter for everything, from my dentist, to haircut, to web design, to concert tickets. You name it, I am up to trade! I also trade one of my yoga students fresh organic produce from my garden for a green vegetable juice that she makes every week for me. I also give the local pizza place fresh organic produce and they make me special pizzas for free. Oh yea, and I barter with the manicure place where I get my nails done. I trade them plants to make there shop pretty for manicures.
Trade is the best way! I lived in third world countries for many years as a Peace Corps volunteer, and that’s how I survived.
Jordan Mallah www.steadfastfreedomyoga.com
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My bank account and network of providers/vendors would not be where it is today without having included the art of bartering for services. While I've always been a fan, I found that it moved from the category of "sort of fun to do" to "essential" when I launched my own communications and media firm. I've bartered for a professional headshot, leadership training, business cards, web site and logo development and about everything in between.
At first blush, it may feel desperate, but I view bartering as quite the opposite; when two businesses (or individuals) are both getting something they need, that is of high value, and are able to select the resource to pay for it (in this case a service in return rather then money) it is a win for both parties. And the bonus? If you do it right, both businesses can gain valuable reputation and exposure for their own business or line of service. Desperate? No way! Savvy? Yes!!
Some rules of engagement to ensure your success:
- Put the other party first; what do they need? (get specific on this step) Can you really deliver it, and is the cost of doing so (in terms of your time, or other resources) feasible for you?
- Understand clearly what you want/need in return, and are they capable and willing to deliver it to you? (check their work product - a terrible web site that is "free" is still terrible and will end up costing you in the long run.)
- Do you trust this person or business enough to work on a handshake, or should you consider a MOU (memorandum of understanding) or even a legal document for the barter?
- Finally, set clear expectations at the start so no one gets their tail feathers in a ruffle. Remember that reputation is still at stake here, even if you are trading your services for free.
Mary-Claire Burick
MC Strategy, Inc.
Media. Communication. Strategy.
www.mcstrategy.net
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Some time ago, I owned a much larger consulting firm with headquarters in a Chicago suburb. When a neighborhood print shop came on the market, and since my consulting work required a lot of printing, I snapped it up.
Between walk-in traffic and the work my consulting firm gave it, the print shop was occupied perhaps 80% of the time. Having spare capacity, I joined a barter association, bartering printing for barter credit (bartered printing at regular price but it only cost me about 35% of that out-of-pocket, primarily for paper). I used the barter credit to have both buildings repainted and reroofed, two air conditioners replaced, and two furnaces replaced.
However, when I sold the consulting firm and print shop, I had barter credit of over $95,000 left. Since then, I have used barter credit
1. stay at hotels in Colorado while looking for a new home;
2. pay for one-fourth of the cost of relocating to Colorado;
3. pay for many restaurant bills (including four family dinners with 10
- 15 in attendance at each);
4. buy an Amish-built oak computer desk;
5. buy an Amish built-to-order china/crystal cabinet;
6. have living room curtains cleaned, resized, and hung;
7. pay dental bills;
8. pay acupuncture bills;
9. buy eyeglasses;
10. buy some Italian sport shirts for myself;
11. buy some birthday and Xmas presents;
12. buy a used car for my daughter; and
13. tree trimming.
I still have about $38,000 in barter credit remaining. I'll probably use a large part of that paying for:
1. having a brick wall built at my new home;
2. having my attic reinsulated; and
3. taking a family cruise next summer.
Steven Langer, Ph.D., SPHR, President
Langer Human Resources Group, LLC
www.langerHR.com
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My business associate (and now friend) Joanne Wills and I have been bartering back and forth since both of us went solo. Joanne is a telephone sales expert, adept at making phone calls and getting results. I work with businesses, non-profits, and solopreneurs to set up telesales solutions. What do we barter? The obvious: I match Joanne up with businesses that can use her services and, in exchange, she makes calls for my business. The key to this relationship is that I prequalify everything I send her. I want the company to be satisfied with the referral and I want Joanne to know that the business is worth pursuing. There are many telemarketing companies that I can and do recommend clients, Joanne is not a fit for all. I prequalify what I send to her because we want to make this easier for all parties: the customer, Joanne, and me.
How do we make the bartering relationship work? We have found in each other a partnership that we trust, we are upfront about the value of the exchange, we track it (albeit informally), we make sure you set up a few times each year to plan the ‘settling up’, and we always ask the questions ‘Is this still working for me? and ‘Is this still working for you?’
Denise Clancey
Teledirect Partners
www.teledirectpartners.com
READ MORE SUCCESSFUL BARTERING STORIES AND SUGGESTIONS!
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