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The Benefits of Bartering

Originally posted on http://tinyurl.com/2alytab

The Benefits of Bartering Goods and Services Between Private Individuals
Bartering is not a new concept. It’s been around probably for as long as man has walked the earth. In fact, long before money existed people traded goods for services or services for other services. That’s how commerce took place. Today, bartering is as popular as it has ever been, particularly among small businesses that are often strapped for cash. The internet features hundreds, perhaps even thousands, of barter exchange websites that have been set up to help small, struggling businesses survive and even thrive by providing a way for them to access needed goods or services they might not otherwise be able to afford. The owner of a shoe store may trade a pair of loafers to the dentist for a check-up and a teeth whitening treatment if both are members of the same barter exchange and have access to one another. An interior decorator may barter her professional service for a pair of stylish earrings and the transaction, without the exchange of any money, will be helpful to both businesses. But bartering is not exclusive to small businesses. It is also commonplace today among ordinary consumers – private citizens. That’s because the depressed economic climate has left many people short of funds, without employment or facing other hardships. Many regular folks just don’t have the money needed to buy the goods or services they want or need. But, they often have something they can trade. Barter exchange websites exist for consumers, too. And every day more and more people with access to computers are joining these websites and taking full advantage of the opportunities that exist on them. In fact, online communities like barterquest provide environments that encourage members to trade goods and services without any movement of money. Not a single dime changes hands. These websites are adding members daily … lots of them.

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Does it really work for people who commit themselves to the idea? The answer is a resounding yes, particularly in these economically-depressed times when money problems are common in many households. Consider the case of a woman I will call Rachel (not her real name). She and her husband Ted (not his real name, either) live in a Midwestern city and have always dreamed of vacationing in Cape Cod. For Rachel, in particular, it’s been a lifelong dream. And Rachel and Ted were finally going to realize that dream … until they found out that decent lodging in the area would cost about $200 a night, somewhat beyond their vacation budget. In most cases, that shortness of available cash would absolutely squelch any chance of the vacation becoming a reality. However, given the current proliferation of barter exchange websites for consumers, Rachel seized upon an idea. She advertised her husband Ted’s professional accounting services in exchange for lodging for 3 or 4 nights in a Cape Cod hotel, motel or similar kind of lodging. There are, of course, thousands of other examples of successful swaps or barter exchanges between consumers in which each party to the exchange ended up a winner. In fact, each year, as summer ends and fall arrives – along with the beginning of a new school year — many hard-pressed moms are able to trade a coveted service for school uniforms for their school-age kids. That, of course, saves a costly trip to the clothing store. Parents and older kids, especially those already in college, enjoy trading for school textbooks which any advanced student knows tends to be alarmingly expensive. Clearly, barter works as well for individual consumers as it does for small businesses. And, as is true for small businesses, the consumer who engages in bartering meets many new friends (businesspeople meet and get many new customers) … enjoys a transaction in which he or she almost always wins … and develops a pastime (or habit) that often turns into a compelling passion. There is more for ordinary consumers to like about bartering, as well. It provides a real opportunity to move and rid yourself of old, dust-collecting items (just as would happen if you conducted a yard sale) … enjoy the true fun that comes from trading (you’ll be like a “kid in a candy store”) … and, of course, when you trade or barter, you save money. That is particularly meaningful now, in these difficult economic times. What’s more, you may also be able to acquire goods that you’ve always wanted, but could never afford (such as expensive, if slightly-used, luxury items, including clothing and jewelry, exotic vacations or great electronic merchandise for your home)… or services, including health or cosmetic care and treatment … or professional services, such as accounting, tax returns, even legal advice just because you’re a member of a website exchange community and you’re willing to give up something to get something in return – with absolutely no exchange of cash. So now you need to ask yourself: is bartering something that I can enjoy and profit from? If you’re like millions of other people, the answer is probably yes. And even if you are someone who stands apart from the crowd, the answer is still likely to be yes. Bartering is a social experience … and generally quite enjoyable for those who participate in it. In all likelihood, it is something you will enjoy for its social aspects and profit from, as well, because it will enable you to acquire needed goods and services without the use of your hard-earned money.

The “Complete Idiot’s Guide To Barter & Trade Exchanges”

Posted on November 25th, 2009

http://leconomistamascherato.blogspot.com/2009/11/complete-idiots-guide-to-barter-trade.html

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Jerry Howell, Founder & President of the Midwest Business Exchange, has written a book which will be released December 1 at Barnes & Noble, Amazon, and other independent book sellers nationwide.

Jerry Howell is President and Founder of Midwest Business Exchange, which facilitates cashless transactions. Howell serves on the Board of the National Association of Trade Exchanges and runs two philanthropic organizations. Tom Chmielewski is a writer and editor for newspapers, magazines and the Internet, and founder of a digital book publishing company.

It’s titled the Complete Idiot’s Guide to Barter & Trade Exchanges and is published by Penguin Books. The book is aimed at businesses that are either members of trade exchanges, or considering joining one.

Topics include a history of barter, alternative currencies, and how trade exchanges work. The book challenges the reader to learn strategies, both basic and advanced, as they make their memberships work for them. In doing so, it also offers valuable insight to brokers of trade exchanges.

Howell is an excellent writer with a well-known sense of humor. Given these attributes, along with having a major publisher and national distribution, should provide significant exposure and opportunities for the commercial barter industry.

JPM Global Selects the Center for Advanced Technology in Telecommunications and Distributed Information Systems (CATT) at Polytechnic University to Provide Engineering Services in Connection with the Development of JPM Global’s BarterQuest Web Site

February 02, 2007

Search, Data and Information Extraction, and Natural Language Processing Tools for Unique Service Offering.

BROOKLYN, NY – February 01, 2007 – The Center for Advanced Technology in Telecommunications and Distributed Information Systems (CATT) at Polytechnic University today announced that it had entered into a twelve (12) month Master Relationship Agreement with JPM Global, Inc. (the “Company”) to provide engineering services and research in the areas of search engines, data and information extraction, and natural language processing. These technologies will be used in support of the Company’s BarterQuest Web site to uniquely facilitate the cashless exchange of goods and services between individual consumers.

“CATT is very excited about the opportunity to provide research and engineering services to JPM Global in support of their product evolution and service offerings in their market segment,” said Dr. Shivendra Panwar, Director, CATT.

Dr. Paul Bocheck, the President of the Company, stated that he “greatly anticipates JPM Global’s relationship with CATT. Polytechnic University has earned a reputation over the past 150 years as one of New York’s leading research centers and engineering schools. CATT’s state-of-the-art facilities and teams of experts understand how to turn technological breakthroughs into commercially promising products and services. Our partnership with CATT should accelerate the development of software that will differentiate our site from other trading sites that are no more than electronic bulletin boards. The current market for barter between individuals is huge but highly fragmented and inefficient. By applying proprietary technologies, BarterQuest will allow this market to realize its true potential.

Dr. Torsten Suel, Associate Professor of Computer and Information Science at Polytechnic University, will be the Principal Technical Investigator for CATT throughout this project; his main research areas are web search technology, algorithms, databases, distributed computation and peer-to-peer networks.

JPM Global, Inc is a Delaware corporation that was formed in 2006 to develop, own, and operate BarterQuest. The Company is principally owned by its management team which, other than Dr. Bocheck, consists of Michael Satz, CEO, and Bianca Han, Executive Vice President.

Since its inception in 1982, CATT’s mission has been to stimulate the growth of New York’s information technology business. As a New York State Office of Science, Technology, and Academic Research (NYSTAR) designated Center of Advanced Technology, our research focuses on key areas critical to today’s businesses: networking, networking applications, wireless communications, multimedia, and cyber security. (http://catt.poly.edu)

NYSTAR’s innovative programs and initiatives provide the critical continuum to translate cutting edge research into economic development. A central element of NYSTAR’s mission is the recognition that New York’s world-class public and private universities and academic centers are powerful economic development engines that can create high-tech jobs and opportunity in New York. By creating new technologies and new innovations, New York looks to build a stronger economic future. (http://www.nystar.state.ny.us)

Except for the historical information contained herein, this news release may contain forward-looking statements that are subject to risks and uncertainties.