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One of my favorite ways to save cash for my personal life and business is through barter. It started back in 1994 when I was an intern at a record label in the marketing department. I learned early on that it was about who you knew and I made every little intern errand a [...]

Trading with others is loads of fun and an easy way to save your cash; from one-to-one barters to offering your goods to thousands in a barter exchange. It's true that once you get the hang of it, you can become a bartering machine! But hey … not so fast, Speedy Gonzalez, you might overload yourself if you're not careful. The goal is to create smart barters with balance. Here are some simple tips, so you don't bite of more than you can chew!

Many people barter their services, from consulting, coaching, hairstyling, contracting, plumbing, you name it. We know that time is definitely valuable.

So, before you say yes to a barter, ask yourself the following…

1. How much extra time can I REALISTICALLY offer each week or month without over-extending myself or cutting into my paying client's time?

2. What's my return looking like and when will it be delivered? You want to make sure this is clear. What if you spend five hours a week on a project and they don't fulfill your barter until two months from your date. Get it in writing first!

3. Is the service something that can be delegated to another team member, intern, or volunteer to save me time?

Dig Up Some Products and Perks

Don't have the time? Search for some more buried treasures to offer up.

1. Do you have access to tickets, events, restaurant discounts etc, that your barter client might need instead?

2. Instead of getting you in the flesh, have you duplicated yourself in the form of a book, e-book, CD, DVD, or podcast? Informational products work wonders. You produce it one time and can reach thousands!

3. Do you have extra inventory on a product that you can offer up?
I remember when I first started bartering years ago, I was saying YES to a lot of things, because I wanted what they had. I also remember I went through a period of over-extending myself to the point of working overtime to fulfill the needs of cash-paying and barter paying clients. Remaining a person of my word means a lot to me.

Your reputation as a person who comes from a place of integrity can go a long way and also be a predictor for how long you'll be in business. Needless to say, I kept my word after learning that STRESSFUL lesson of over-doing it. If you learn anything from my mistake, only barter when you absolutely know you have to resources and time to fulfill that order. Bartering should be fun, not a chore!

Keep Livin' Good,

Simone

Would you love to eat at a lavish restaurant at least once a week? Itching to take that dream vacation to an exotic Island? You need to refurnish your home office, but ummmm ... it's not really in the budget right now. The mortgage, sky rocketing gas bills, and your kid's tuition seem to be taking center stage instead. Without taking on the guilt of enjoying life … you CAN get many of these things and live good. I mean really good by finding cool barters. I mean, come on, that's what this is all about, Livin' the Good Life, baby!

A spark of creativity, a great connection, a desire to save, and a buried treasure or talent you possess are all you need. You can get what you desire with just some of those main ingredients to lead you to a trade that can blow your mind. I'll admit, finding good deals isn't always easy, but when you stumble upon someone who has something amazing to offer and is open to trading or, better yet, a member of a trade exchange that you're a member of, then GO FOR IT!

I looked around and found some really interesting deals that others have been able to nail and wanted to share them with you.

In Tallahassee, FL, a photographer traded for:

- A year's lease of office space

- A Jacuzzi tub

- Pavers for landscaping

- Hair, Nails, Massage, Permanent Makeup, and other personal services

- Clothing and Shoes

- Computers - Hardware and Services

- Signage

- Furniture

- Print Advertising

- Hotel Rooms

- Concrete Patio

- Restaurants
In Brooklyn, NY, Publicist Fiona Bloom was able to get a week-long vacation in a luxurious villa in Barbados for publicity work. She did it not only once but two years in a row.

In Boca Raton, FL, an owner of a human resources firm created custom employee handbooks and in exchange was able to rack up on:

- A billiards table

- Office furniture

- Event tickets

- Restaurants

On barternews.com they mentioned a barter and cash mixed that was a great savings for hotel rooms:

- Koh-I-Noor, a manufacturer of artists' instruments in Bloomsbury (NJ), bartered trade credits held in its account with Active Travel for accommodations at a hotel in Woodcliff Lake (NJ) for a four-day meeting. Jeffrey Murray, manager of sales promotion, education, and training, said, "The rate for a single room was $130, but, by bartering, we saved a third off that amount and paid a rate of only $80."

- Hi-tec, a division of a UK-based athletic shoe manufacturer, is getting more than just a reduced room rate when it holds its annual sales meeting for 150 attendees at a Fort Lauderdale resort. Hi-tec paid 35% of the room bill in trade credits along with 25% of its food and beverage costs.

Some of my very own favorites that I've been able to barter are marketing coaching for:

- Web design

- Pampering (massages, manicures, pedicures, and facials)

Ghost Writing for Someone:

- Getting my office, living room, and dining room redecorated and painted.

Team Motivation presentations for a salon's staff:

- My hair done whenever I'd like, on the house!

Now you have an idea of some things that others are doing in the barter world. Pick up your own magic lamp to conjure up your own barters that rock. Who needs a genie?

Keep Livin' Good,

Simone

I tell my clients all the time, that your list is GOLD. After years of networking and cultivating my contacts, I've been able to build a nice sized mailing list. I developed my own event and women's network…and although I didn't know it at the time. It was the start of something big.

I started to see a demand to get in touch with my audience of women entrepreneurs and the resources I have access to. I finally realized what my buried treasure was. In addition, I have my marketing background that can help out many of my business partners. My podcast that can give them more exposure is definitely a plus as well. So, when I need something that I might want to spend the cash on, I dig into my pot of buried treasures and see if I can find a match for my prospect.

Now, I've seen many people shy away from the idea of bartering, because they don't realize what their buried treasure is. They don't realize that what they are sitting on is probably worth a lot more than they think. Do you have something that you might not even realize is of value to the next businessperson?

What's your buried treasure that you haven't tapped into?

Contacts: Do you have a healthy mailing list and address book? Do you network a lot and know who's who. From business referrals to cool restaurants to dine in … you never know what you can offer people. If you can be the GO-TO PERSON for many, trust me, you'll be a valuable asset to many!

Skills: What are you trained in? Are you an amazing presenter or chef? Can you design websites, teach Belly Dancing, make handbags? Are you a wiz in Finance, Art, or Producing Commercials? What are some things you do full-time and even in your spare time that is a talent that you can offer to the world?
Knowledge (insider secrets): I'm not talking stock exchange now, I don't want you to get locked up. I don't think you can barter bail. LOL! But maybe you were the first in your industry to do something different. Are you a copywriting pro for e-mail marketing campaigns? Do you know how to beat parking tickets? (True story … a woman at one of my events bartered these tips with another woman for business tips. She used to be a parking attendant.)

Spend a few minutes brainstorming and build up your list of things you have access too and I'm sure you'll be very surprised.

Ask yourself:

What do you have access to, what can you do better than anyone else you know?

Ask yourself, what's your buried treasure? What do you have that's a pot of gold to someone else? What do you have The key is bartering smart is where you don't have to use too much energy or time. It might be something you have right now collecting dust in your garage, something as simple as an overstock of inventory, maybe?

When you're bartering with individuals on a one-to-one barter, here are some tips.

Some guidelines to keep in mind before you get started:

• When working on projects for each other, our goal should be to MEET AND EXCEED the needs of that person.

• We all have expertise in various areas and can do incredible things as long as we see eye-to-eye and are in agreement before we get started.

• The barter can be considered a short-term partnership. You do your part and I'll do mine. Therefore, take the focus off of "me" and put it on "we".

• Don't know the person's work? Ask for up to three referrals of past customers. It's up to YOU and no one else to do the research before you come to an agreement.
• Do your best. Your work and attitude is a reflection of you. People make decisions about you based on your work ethics. Always remember, your reputation is your wealth!

• Be professional. Treat others the way you would like to be treated.

• Be responsible. Manage your time and commitments. Confirm meetings a day before. If you are going to be late or can't make a meeting, please be conscious of each other's time. Missing meetings and being irresponsible doesn't sit well with anyone and quite frankly you might not get a second chance! Don't burn your bridges ... you never know who can help you.

• Pay attention, listen, and take notes, so that "we" understand what the job entails and "we" can deliver on the services. There may be details that are not included in the agreement.

• Professionalism, sensitivity, consideration, respect, and integrity are key attributes to not only operating within a barter network, but in business in general. It's important to be authentic and be true to our word. Our WORD is so important!

How Does It Work?

• Discuss exactly what you are doing for each other. Describe services/products and expectations up front so that there are no surprises in the end.

• Be clear about what you charge. It's hard to barter with someone who doesn't have a set fee structure or who can't tell you how much they charge for specific services. Barter dollar for dollar. I'll give you $500 worth of work for $500 worth of work. When bartering, keep a list of SPECIFIC deliverables for each barter session.

• Put all details IN WRITING. What is the monetary value? What are you both delivering? What's the deadline? Have both parties SIGN the agreement. It doesn't have to be filled with legalese that no one understands! Contracts are highly recommended. If you're not paying cash, that does NOT mean that you don't have expectations of deliverables. Bartering is a valid business deal just like any other. If you start putting things down in a contract, the other person is less likely to behave unprofessionally.

After the Barter is Completed...

Don't just end it there, keep the relationship going:

• Provide each other with testimonials for your website and/or marketing materials

• Refer clients to one another and offer a finders fee of 10-15%

• Exchange website links

• Offer discounts to each other for future cash paying projects

• Do a personal assessment. Provide them with a survey to get feedback on your performance. See where you are doing a great job and where you can use some improvement. You know what you did well and the areas that you need to improve. Make a commitment to do better the next time.

I'm sorry, but I can't end without telling you that Big Brother is watching you. Good Old Uncle Sam does want you to tell him about your barter deals.

In fact, the IRS offers no loophole whatsoever for bartered transactions. According to the IRS, the fair market value of bartered products and services must be included in income during the tax year it is received. Make sure you speak with your accountant to find out how to file.

Keep Livin' Good,

Simone