Does Barter works for every business?

There is an old saying in the world of Barter, “ Barter works for every business but it doesn`t work for every businessperson”. Pretty much a true statement. So how do you become the businessperson where it does work!

The first thing you need to do is change your cheque book attitude and change your thoughts on when and how you want to make purchases. In these times it’s sometimes difficult to plan and so we work on a JIT basis. With Bartercard, you need to think and plan on what you want to spend. Of course, you could just wait till the last minute, find you cannot get what you need on trade and just get your cheque book out……………..

Think ahead, work with your Account Manager, don’t ring on a Friday afternoon at 4 o’clock expecting that you will find 3 colour leaflet print on a Friday afternoon just before the close of business for a printer. It’s not going to happen. What you will have forgotten as you are given the bad news that the print cannot be gained on trade is that you, in fact, knew you had to cross this bridge 3 months ago. Think ahead!

Whilst it may be considered an extreme example, we had a Member who told us that he was looking to buy a new van in two years’ time, and could we help him? Clearly the chances of buying a new van on trade are extremely remote however working with the Member this is what we did.

Over a two year period every time the Member bought something he needed in his business on the trade we said to put the equivalent in cash in your bank account and make is sacrosanct, don`t spend it. Leave it. Believe it or not in the two years prior to him needing the van he saved enough cash to buy that van whilst saving the equivalent in cash. He kept thousands of cash pounds in his business to buy the van by spending trade.