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Archive for July, 2022

Top 10 Frequently Asked Questions (FAQs) About Barter

1. WHAT IS BARTER?

Barter, also referred to simply as trade, is the oldest form of commerce or business in the world. Barter is simply the exchange of one product or service for another without the exchange of cash. Described another way — barter is using what you have to get what you want or need.

2. WHO CAN BARTER?

Any business owner or professional who has a product or service to offer on trade for which there exists some demand. Obviously, the higher the demand for a product or service and the more limited the supply, the more opportunities you will have to trade for the products and services you want and need. Traders range in size from small sole proprietorships to large international corporations.

3. HOW CAN BARTER INCREASE MY CASH FLOW?

There are several ways in which barter can increase your cash flow. Firstly, normal expenses can be converted from cash to trade transactions, thereby freeing up your cash. Secondly, new customers with whom you do trade business and whom are satisfied with your product or service become great sources of word of mouth advertising – the best kind. Thirdly, you can trade your product or service for all forms of media advertising for more cash business without the out-of-pocket cash costs.

4. HOW DO I KNOW THAT THIS IS LEGITIMATE? / THIS MUST BE ILLEGAL?

The Barter Industry is now officially recognized by the federal government through the “Tax Equity and Financial Responsibility Act (TEFRA) of 1982” as third-party record keepers. Trade/Barter Exchanges now rank on an equal footing with banks, credit card issuers, credit unions, security brokers and others as legitimate custodians in the eyes of the law.

5. WHAT IS A BARTER EXCHANGE?

A Barter (or Trade) Exchange is a business organization engaged in the exchange of products and services without the use of cash. A Trade/Barter Exchange acts in a fiduciary role, facilitating trading between the exchange’s clients via a form of currency, e.g. Trade Dollars (T$), that clients can spend on any of the products and services available on trade from the other clients.

6. WHAT ABOUT TAXES?

There are no tax advantages or disadvantages to barter. The IRS and tax law treats barter identically to cash. Barter sales are treated as taxable income in the year they are credited, just like cash sales. Barter purchases for products and services for your business, including salaries, are tax deductible just like if they were cash purchases. Barter Exchanges report the barter transactions for their clients to the IRS and to the client on a Form 1099-B at the end of the year. You would be responsible for issuing the appropriate Form 1099-B’s for any direct trades in which you participate.

7. WHO ARE THE BEST TRADERS?

Aggressive, intelligent and inventive traders are some of the best. Everyone can learn to be a “mega-trader” by dealing with other traders, watching how they make barter work for them and through creative thinking – “Think Trade First!”, before you spend cash.

8. CAN I GET EVERYTHING I NEED THROUGH BARTER?

No. There are some things that you probably won’t be able to find on trade, including: utilities, parking meters, tips, mortgage payments and money payable to local, state and federal governments( taxes, business licenses, traffic fines). Most everything else can be traded.

9. CAN I AFFORD TO BARTER?

All business owners and professionals can afford to barter. Some can afford to trade more than others, but it can benefit any business. Those who contend that they cannot afford to trade because of cash flow often need the benefits of barter more than anyone.

10. WHEN WOULD I SEE THE BENEFITS?

Each time that you participate in a trade you will realize some of the benefits of barter. When you participate as a seller in a trade you often receive new business from a customer who otherwise would not have purchased your product or service on a cash basis. When you participate as a purchaser in a trade you are acquiring a product or service at a discount equal to your gross profit margin and thereby saving cash. Therefore you will see the benefits whenever you utilize barter to grow your business! So what are you waiting for … ?

If you have any additional questions you would like to see answered, please forward them to me via the contact information below.

© Copyright 1997, 2022 Michael S. DeVries, All Rights Reserved.

This article was originally published on I-Barter.com in 1997 at http://www.i-barter.com/faqs.htm it has been reprinted here in 2022 with appropriate edits and updates with the express permission and approval of the author.

Click Here or at 👉 http://blog.thevcf.com/grow-your-business-through-bartering-with-itex/ to get started Growing Your Business through Bartering with ITEX as soon as possible!

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Do you have Questions about Barter?

In this Episode / video as part of the [Growing Your Business With Barter] series of videos, we will attempt to answer the [Top 10 FAQs About Barter] to help you to [Conserve Cash] for Your [Virtual Consulting Business] and [Grow Your Business].

The [Frequently Asked Questions (FAQs)] about Bater that we attempt to answer for you in this [Growing Your Business With Barter!] Episode / video include:
✅ What is Barter?
✅ Who can Barter?
✅ How can Barter increase my cash flow?
✅ How do I know that this is legitimate? / This must be illegal?
✅ What is a Barter Exchange?
✅ What about Taxes?
✅ Who are the Best Traders?
✅ Can I get everything I need through Barter?
✅ Can I afford to Barter?
✅ When would I see the Benefits?
✅ How Barter Helps You [Conserve Cash[ for Your [Virtual Consulting Business]
✅ How Barter may be used to [Grow Your Business]

🔴 Please also Join us in the Virtual Consulting Community by Subscribing to the Virtual Consulting YouTube Channel at 👉 https://www.youtube.com/c/VirtualConsulting101?sub_confirmation=1 and Please Click the Bell 🔔 Icon so that You are Notified and Never Miss an Episode, All for FREE.

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📖 CHAPTERS 📖
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00:00 – Introduction
02:08 – (more…)

Would you like to learn how to [Grow Your Business With Barter]?

In this first, [Episode #1] video, as part of the [Growing Your Business With Barter] series of videos, we will introduce you to what Barter is, how Barter works, what a [Barter Exchange] is, which products and services you can Barter and how Barter may be used to help you to [Conserve Cash] for Your [Virtual Consulting Business] and [Grow Your Business].

Some of the Topics discussed in this [Growing Your Business With Barter! – An Overview] video include:
✅ What Barter is
✅ What is a Barter Exchange
✅ How Barter works
✅ Which products and services you can Barter
✅ How Barter Helps You [Conserve Cash[ for Your [Virtual Consulting Business]
✅ How Barter may be used to [Grow Your Business]

🔴 Please also Join us in the Virtual Consulting Community by Subscribing to the Virtual Consulting YouTube Channel at 👉 https://www.youtube.com/c/VirtualConsulting101?sub_confirmation=1 and Please Click the Bell 🔔 Icon so that You are Notified and Never Miss an Episode, All for FREE.

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📖 CHAPTERS 📖
—————————————————————————-
00:00 – Introduction
03:20 – What is Barter?
08:30 – How does Barter Work?
11:16 – What can You Barter?
13:02 – What’s Next?
16:05 – Discord Invite
18:42 – Virtual Consulting Sites

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📝 (more…)

GROWING YOUR BUSINESS WITH BARTER!

– An Overview

• Can you use new business?
• Do you have un/underutilized products or services?
• Do you have products and services you need to purchase for your business?
• Are you finding it difficult to compete with the “big boys”
  with the “deep pockets”?
• Wouldn’t you like to have a competitive edge?

Barter is an excellent way to get the new clients you need to grow your
business. Barter can help you utilize your products and services more fully.
Barter allows you to purchase some of the products and services you need
for your business without spending cash. This article will give you an
overview of how you can use Barter to grow you business.

WHAT IS BARTER?

Barter , also referred to simply as trade, is the oldest form of commerce
or business in the world. Barter is simply the exchange of one product
or service for another without the exchange of cash. Described another
way — barter is using what you have to get what you want or need. Virtually
all of us have experienced barter, particularly in our youth — trading
baseball cards, doll clothes, etc. Business of all kinds and all sizes,
from home-based, self-employed companies to multi-billion dollar corporations,
are trading more than ever for a wide variety of products and services.
Barter is now a multi-billion dollar per year global industry. Herein we
will show you how you can take advantage of the opportunities afforded
by barter to grow your business.

HOW DOES IT WORK?

There are a number of ways and types of barter that you can utilize
to grow your business. We will discuss the various types of barter and
how each works and the advantages and disadvantages of each in more detail
in a future article. The two types of barter that are the most accessible
and easiest to utilize are discussed herein, they are Direct Trade, or
one-on-one trading, and trade via a retail Trade or Barter Exchange.

Direct Trade, or one-on-one trading, is where you offer to trade your
product or service with a business owner or professional who offers a product
or service that you want. An example would be a restaurant owner who offers
to trade a certain number of meals to a printer to have their flyers printed.

A Trade or Barter Exchange is a network of business owners and professionals
who have agreed to offer their products and services on a trade basis to
other clients of the exchange. The exchange markets your products and services
to the other exchange clients. Utilizing a Trade/Barter Exchange is usually
the most efficient manner to maximize the benefits of barter for your business
since you do not have to negotiate and account for each trade yourself.

WHICH PRODUCTS AND SERVICES CAN YOU BARTER?

Anything that can be sold or bought on a cash basis can also be bought
or sold through barter. Many people will buy your product or service, or
more of it, on a trade basis when they would not do so on a cash basis,
due to cash flow, their buying discount with trade, etc.

WHAT’S NEXT?

In the next article in this series, regarding “Growing Your Business
With Barter”, we will discuss the various benefits of barter and their
value to you in growing your business.

I hope that you have found this article informative and beneficial for
your business.

© Copyright 1997, 2022 Michael S. DeVries, All Rights Reserved.

This article was originally published on I-Barter.com in 1997 at http://www.i-barter.com/gybwb1.htm it has been reprinted here in 2022 with appropriate edits and updates with the express permission and approval of the author.

Click Here or at 👉 http://blog.thevcf.com/grow-your-business-through-bartering-with-itex/ to get started Growing Your Business through Bartering with ITEX as soon as possible!

Trade / Barter Links

Frequently Asked Questions

Trade / Barter Articles and News

I-Barter Digest Archives

We welcome your comments!

Thank you for visiting and please come back frequently and Watch Us Grow! 

Develop Your Growing Business in 5 Innovative Steps

Finding success as a business owner is cause for celebration, but “being successful” is not the goal in itself. Being content with the current state of your company will lead to stagnation and ultimately the downfall of your business. If you wish for your enterprise to continue thriving for many years to come, the solution is to continually develop through innovation. In the Internet age, innovating entails utilizing digital advancements and online resources to breathe new life into your company. The sheer possibilities may seem daunting, but you can start growing your business further by following a general roadmap of innovation.

Need help marketing, managing, and growing your business? Learn more about how The Virtual Consulting Firm can help you find success!

1. Adopt Cloud Computing

The best way to expand your business’s capabilities is by adopting cloud-based solutions. Cloud computing is the process of using remote storage or software as a service without maintaining expensive infrastructure within your own office. This makes it possible to complete tasks that are otherwise outside the scope of your budget. Because the cloud can be accessed from anywhere, incorporating cloud services opens up new opportunities for remote work for you and your employees.

Cloud-based accounting software is one example of how this particular frontier of digital innovation can serve you. This software makes it easy to send electronic invoices to clients, which in turn makes it easier for you to get paid on time. Implement accounting software that will provide options for organizing and storing receipts. This functionality will come in handy when applying for tax deductions and striving for legal compliance.

2. Use the Latest Marketing Techniques

Marketing is an essential and constantly-evolving area of business. Social media is at the current forefront of the business marketing field, so you must adapt innovative ways to capitalize on the platform. Instagram is a particularly effective medium for boosting brand awareness and showcasing your business’s values. Create Instagram posts that provide eye-catching visual content that can display the appeal of your products.

3. Prioritize Business Process Management

Many businesses today are turning to business process management (BPM) in order to improve efficiency and better utilize resources. But what exactly is BPM? Business process management is a system that helps businesses to optimize their processes in order to achieve specific goals. This can be done through a variety of methods, such as process mapping, process redesign, and process improvement. By utilizing BPM solutions/technologies, businesses can improve their overall performance by automating processes, reducing errors and waste, and improving communication and collaboration. In addition, BPM can help businesses to better understand their customers and meet their needs more effectively.

4. Invest in Big Data Analysis

Research is crucial for staying ahead of the curve, but many small businesses neglect to acknowledge the power of big data. Experts explain that analyzing big data can reveal hidden patterns or trends within an entire market.

Equipped with this information, you can optimize your processes according to your informed projections of consumer demand. This can help you hone in on effective marketing strategies and strategic release windows for new products.

5. Seek Strategic Acquisitions

Your business can enjoy lucrative growth through the power of effective marketing and data analytics. Coupled with the money-saving benefits of cloud computing and other efficient solutions, you may eventually have more cash flow than you know what to do with.

When you reach this point, you will have the opportunity to make huge expansions to your company in one fell swoop through mergers and acquisitions. Combining new teams and companies under your umbrella is an unparalleled way of introducing innovative new ideas to your overall business.

Every business starts out small, but it can work its way up in the world through innovation-driven leadership. Early success leads to opportunities for investing in technology and new techniques. When you adopt cloud software, invest in BPM and data analysis, market on social media, and look for strategic acquisitions, your company can become a powerhouse that leads its industry with bold ideas for the future.

Image via Pexels

This article was written by a guest writer, Adam Evans. 

Adam Evans has worked in a variety of educational roles, from substitution to full-time teaching to administration positions. Currently a full-time private tutor, he likes to spend his free time exploring museums and natural wonders of the West Coast with his wife and their sons.

Would you like to learn [How To Use Google Sheets For Business]?

In this first video in our [Google Sheets Tutorial] series of videos, we provide you with a brief [Introduction to Google Sheets].

The ability to [Use Google Sheets For Business], helps you be more productive, efficient and effective and saves you, and your [Virtual Consulting] clients, Time = Money 💰 !

Some of the Topics discussed in this [How To Use Google Sheets For Business | Google Sheets Tutorial | #1 | Introduction to Google Sheets] video include:
✅ What is [Google Sheets]?
✅ What can you do with [Google Sheets]?
✅ What is available in [Google Sheets] for Developers
✅ How to [Create a Google Sheet] directly via [Google Apps] Menu
✅ How to [Create a Google Sheet] from [Google Drive] – [My Drive] – page
✅ Some of the Benefits of using [Google Sheets For Business]
✅ How [Google Sheets] may be used for Your [Virtual Consulting] Business and with/for your [Virtual Consulting] clients
✅ How you may offer and sell your [Virtual Consulting Services] using [Google Sheets], as additional Value and Benefits, to your [Virtual Consulting] clients

🔴 Please also Join us in the Virtual Consulting Community by Subscribing to the [Virtual Consulting] YouTube (more…)

Would you like to learn [How to Use Zapier Filters Effectively]?

In this video, as part of the [Zapier Tutorial] within our [How To Automate Your Business] series of videos, we show you step by step how to [How to Use Zapier Filters Effectively].

The ability to [Automate Your Workflows using Google Sheets & Zapier], helps you to be more productive, efficient and effective and saves you, and your [Virtual Consulting] clients, Time = Money 💰 !

Some of the Topics discussed in this [How To Automate Your Business] | [Zapier Tutorial] | [How To Automate Your Workflows using Google Sheets & Zapier] video include:
✅ [Lessons Learned] and [Best Practices] for using [Zapier Filters] Effectively
✅ How to Filter out Google Calendar Updates
✅ How to Filter out Twitter Tweets and ReTweets (RTs)
✅ How to Filter out non-existent data in the [Trigger Column] of a [Google Sheet]
✅ How to Filter out specific values in the [Trigger Column] of a [Google Sheet]
✅ How to Filter out Discord Postings
✅ How to review Filtered Tasks in the Zap runs | Zap history
✅ [How to Use Zapier Filters Effectively ]
✅ Some of the Benefits of using [Zapier Filters Effectively ]
✅ How Zapier may (more…)