There’s something compelling about bartering – potentially saving costs, quickly acquiring new customers and eliminating unwanted inventory.
But, as we’ve explored in “Trade Your Business” (show # 60), each entrepreneur needs to consider several items before they begin bartering, such as:
Establishing a barter-specific rate card
How to report barter activity in your annual taxes
Implications that bartering can have on your brand
As a business owners/manager, you also need to determine how much you are prepared to trade and accept in barter. As Robert quite rightly pointed out, “you can’t pay your mortgage with barter!”
If you find that bartering does work for you, here are a few barter networks that you may want to explore:
Finally, review the New York Times article on online bartering networks.