Barter is a type of trade in which goods or services are directly exchanged for other goods and/or services, without the use of money. It can be bilateral or multilateral, and usually exists parallel to monetary systems in most developed countries, though to a very limited extent. Barter usually replaces money as the method of exchange in times of monetary crisis, when the currency is unstable and devalued by hyperinflation.
I’m thinking about bartering today because I actually just completed a barter deal and it is fresh on my mind. It’s been around since the beginning of time, so it must have some creditability, right? I think bartering is good deal for business when it benefits business both ways. I have bartered my services on occasion for cleaning supplies, bath products, other services. I barter for goods or services that I would need to buy with cash anyway. I am very picky about who I barter with and when and for what. I mean, sure there are lots of things I would love to barter for, but in today’s economy I always have to think “would I buy it if I had the cash in hand.” if the answer is no, I have to take my own advice. To date, I have been successful with the bartering I have done.
Sometimes, the offer bartered is simply not a fair trade. I often see people trying to barter a service they seek in exchange for ad space on their site. Unfortunately, some people do not know enough about the online world and see this as an opportunity to get their name on another site. However, if the person offering the space has low rankings, the chances of someone seeing your ad is slim, so you may as well be offering your product or service for free.
So, my thoughts on bartering in today’s economy. Make sure it is equaly beneficial for both parties. Barter for what you need not what you want. (Afterall, your utility companies will not understand that you cannot pay your bill because you gave up paid services for a trinket you wouldn’t normally buy anyway, right?). Finally, offer a service that is of value. In my opinion, offering ad space that has not made a blip on the internet yet is a scam. I hate to say it harshly, but you know your stats and if no one is visiting work on that before you offer advertising as payment.
That’s my thought for the day. What do you think about bartering in business? Have you done it? Has it been sucessful for both parties? Share your thought!
All the Best,