Tag Archive for tips

Trading Tips

Suitable for Black Friday a few trading tips from the Barter Kings!

Antonio Palazzola’s Tips
1. Scan the trades. Keep an eye on [...] bartering sites for potential solid deals.
2. Always look over your shoulder. There are a lot of scammers out there. If something smells fishy, don’t go fishing.
3. Trading isn’t something you should just dive into. There are a lot of sharks out there that could take advantage of a novice. Start small either with lower cost items, or practice by trading with friends and using local papers.
4. You don’t have to be an appraiser, but you have to know your item. Your best strategy in a trade is your knowledge on the item. If you don’t know about it, don’t trade with it. If you know someone who appraises, bring them to your trade, if not, a smartphone works just as well. Just jump on eBay and you can get your answers. I use the site to check the prices that items are selling at. Retail and wholesale mean nothing in my world. I don’t deal with mall prices.
5. Always keep a good poker face. The less reaction you show in a trade, the more of a chance you have of gaining the upper hand and trading up.
6. Negotiating is learned through practice. Like anything else, the more you do it, the better you will be at it. Books like “The Art of Negotiation” help to get a good grasp on learning how to talk the talk.
7. Never bring cash to a trade.

Steve McHugh’s Tips
1. Decide if you are going to start a trade for a specific goal/item or just to see what you can accomplish. If you are just doing it to see what you can accomplish, than don’t put pressure on yourself and just have fun. You will be amazed at how far you can get.
2. The most popular and effective website is Craigslist. It just reaches more people than other sites. But you can use a search engine to find bartering websites for your location – a lot of these sites are great.
3. People always like to mention what their item sold for when it was brand new. Even if they got 50% off, they only mention what it was selling for at full retail price when it was new. You have to learn to address this issue quickly and effectively. If someone is willing to trade an item, they do not see a value in keeping it. You have to figure out that reason and justify the trade from there. Sometimes it is easy and sometimes not so easy.
4. If you want to take a trade string far, you can’t always worry about the exact value of an item. Trade value is way different than actual value. If I’m planning on making a trade string work, I like to start with items that people can’t shop a value for – unique items, rare items, or hard-to-get items. I want to trade to an item that I know could be hard to move because I can get it easier if the other trader has had a problem trading or selling the item. When I find the right person to trade it to and they can’t put an exact value on the item, it helps me make bigger value jumps and I can do less trades. But it is harder to do fast and takes patience.
5. When I post something for trade, I make sure to take good photos and be specific about details, but I leave out some information so that the person who is interested will call me. Then I can see where I can go with the trade.

Originally at http://www.aetv.com/barter-kings/trading-tips/

Business Finance

Originally posted by John Tomy on http://www.aveic.com/business-finance-tipse/

Business Finance -Tipse
More residential absolute acreage investors are exploring bartering absolute acreage and business accommodation alternatives as a aftereffect of the added anarchic investment ambiance for residential financing. In these affairs -to-be bartering acreage owners, business investors and business owners should brainwash themselves about choices for the business befalling costs and bartering accommodation altitude that currently prevails throughout the United States.

Environmental requirements for business accounts will be a circuitous affair for abundant business investments. Environmental issues complex in a business accommodation will primarily depend aloft the bartering lender as able-bodied as the blazon of business. Added all-encompassing requirements can appulse both the amount and timing for a bartering mortgage loan.

money

Tax allotment and banking statements for a business accommodation are acceptable to be a affair for all bartering borrowers. Whereas residential mortgage costs is acceptable to absorb alone claimed tax returns, a lot of business costs will cover a analysis of business tax allotment as well. Business banking statements and claimed banking statements will be appropriate for assertive kinds of business befalling costs and bartering absolute acreage financing.

Secondary costs will generally be a agency of accepting adapted bartering loans. The use of agent costs or accessory costs is a advisable business costs action to abate basic requirements for the borrower. Accessory costs will not be accustomed by all bartering lenders.

An abrupt claim for abounding bartering loans involves sourcing and condiment of funds. When purchasing a business, some lenders will crave that borrowers certificate area the down transaction is advancing from and how continued the funds accept been in that area . If a borrower cannot abundantly accommodate this documentation, the best of bartering lenders will be added restricted.

Bartering Reborn

Originally posted by Ken on http://beforeitsnews.com/news/76/185/Bartering_Reborn.html

Bartering Reborn

Bartering Reborn Due to Recession
In this current recession, we are seeing bartering and the barter system making a comeback. Many people are experiencing great financial difficulties and job losses. Some of these people are getting themselves further into debt to get the items they need, but modern survivalists are turning to the barter system.

Many of us have heard of the term ‘barter’, but if you’re like most people, the image that comes to mind is that of a poor farmer paying the small town doctor for his clinical services with one of the chickens from his farm.

Webster’s dictionary tells us the definition of barter is to trade by exchanging one commodity for another. Bartering systems have been around in most cultures since before money was created. For example, during the colonial era, money was scarce so the colonists used bartering as a primary means of procuring the goods or services they needed. They would trade such items as musket balls, tobacco, beaver pelts and deer skins. By the way, the later is where we derived our modern slang term ‘buck’, meaning ‘dollar’. People who had items or services to sell would exchange them with others for the things they needed.

Bartering allows you to get the items you need without having to part with actual money
It allows you to use the items you no longer need to get the items you do need. A good prepper knows this, and is another reason to store extra items…to use as barter items! Good negotiating makes the barter system work at its best. A good negotiation means both parties feel they have made a good deal and will walk away happy.

barter

Often times ’services’ can be a far more valuable trade commodity than a physical item
One thing to bear in mind concerning the barter system is that you don’t have to be trading items. Perhaps you are a plumber and your neighbor works as an automotive mechanic. Your truck needs a brake job and your neighbor has a dripping water leak somewhere underneath the kitchen sink. After a little chatting and negotiating, you’ve got a fair trade.

Everyone has a service they can barter, just be creative. Ladies, perhaps you are a hair stylist, massage therapist or caterer. These are all services that you can barter. Maybe you are a housewife that loves paper crafting as a hobby. You can make wedding invitations or thank you cards for your neighbor, the hair stylist, who is getting married in exchange for hair cuts, the number of which to be determined during your negotiations. Use your skills. You likely have unique skills that you don’t even realize are of value to others!

Bartering is a natural fit in local communities
Bartering also makes for good neighbors. In our neighborhood, talking with people we already knew, led us to other neighbors with talents we were looking for, but we hadn’t made their acquaintance yet. Word of mouth truly can be the best advertising. When times are difficult, your local community and neighborhood can be your best asset.

Be creative, utilize your talents and items you no longer want or need, to obtain the same from others. BARTER! It’s beneficial for everyone involved!

The Five Most Important Things to Do Before Jumping Into a Bartering Arrangement

Posted on: 29th March, 2010
Originally posted by Alyssa Gregory
http://www.sitepoint.com/blogs/2010/03/29/bartering-considerations/

Bartering is the exchange of goods or services for the goods and services offered by someone else. Money typically doesn’t change hands, provided the value of the exchange is deemed equivalent. Bartering can be a good way to get experience when you’re just starting out, fulfill a need without a financial investment, expand your network and find new business.

While it can seem like an informal situation, there are potential damaging consequences that can occur if you don’t do certain things to protect the bartering arrangement. Here is a checklist of the most important steps you should take before beginning a bartering relationship.

barter-checklist

Evaluate the Value

You want to make sure the arrangement isn’t lopsided, and that both parties are getting what they put into it. A mismatched barter can result in resentment, frustration and potentially even legal issues. To start, assign a dollar value to the goods or services that are to be traded. If there isn’t an even comparison, adjust the trade to make it comparable (i.e. trade 5 hours of a service A for 8 hours of service B).

Check References

Do your research into the person you’re considering bartering with, just as you would if you were hiring them to do something. Ask for references, check past work, dig into who they are and verify they have the skills and experience they are claiming. Just because bartering doesn’t involve money doesn’t mean it should imply discounted or less professional services, and you’ll save yourself a huge headache by verifying this in the early stages.

Use a Written Agreement

Again, just like any other business relationship, you should have a written agreement that explicitly outlines the terms of the arrangement. This is especially important when there isn’t a clear one-for-one exchange. Your agreement should outline the scope of the work on both sides, identify the deliverables, specify the duration or deadline for the work and spell out what happens if either side wants to end the arrangement before completion.

Keep Open Lines of Communication

Stay in the loop with your bartering partner to ensure that the trade is effective and that both sides are happy with the service they’re getting. If something isn’t working out as expected, or if you’re unhappy with the work you’re receiving, speak up and work toward a resolution. It’s also a good idea to schedule regular check-ins and milestones to make sure the bartered services don’t get dropped below paid work and forgotten.

Don’t Forget About Taxes

The rules for reporting barter transactions may vary depending on which form of bartering takes place and where you are located. According to the IRS, in the U.S. barter dollars are identical to real dollars for tax reporting, so you need to treat barter income as you would any other business activity. Keep good records and consult an accountant if you have questions or need advice.

How to become a smart barterer

Posted on: 26th March, 2010
Originally posted by fred
http://blog.ormitacorporate.com/?p=226

If you were paying any attention to feel-good news stories three years ago, you might remember a guy by the name of Kyle MacDonald. And if his name doesn’t ring a bell, perhaps his ticket to the national spotlight will: one red paperclip. MacDonald first traded the tiny office supply for a pen on Craigslist in 2005, and eventually kept trading until he ended up with a house. (And, as what usually happens in situations like these, a book deal soon followed.)

To be sure, MacDonald is a rare example of extreme success (and, perhaps, extremely good timing) when it comes to online bartering — there’s no telling what his journey would’ve looked like had he tried to trade that red paperclip after the economy started to falter. (For one, the house he ended up with most likely would’ve been a foreclosure.)

These days, though, swapping services in online forums is on the rise. SwapTreasures, an Internet bartering forum, has reported a traffic increase of 40% since the recession took hold, a member of the site’s support team wrote in an e-mail.

draft_lens6068962module47860922photo_1248380776Bartering_Hand_Shake

The bartering section of Craigslist undoubtedly features a wider cross-section of users, but as a result, the listings often come off reading like a virtual scrap heap. Still, students are using the site with varying degrees of success, trading everything from tennis lessons to baby-sitting sessions to get by without things getting too expensive.

Leia MonDragon, a 23-year-old Borough of Manhattan Community College student, began bartering for child services to supplement her freegan lifestyle. She hasn’t ended up with a house quite yet, but MonDragon uses Craigslist to barter for child care while she works or attends classes in the evenings. Since freeganism “is more based on the idea of gifting,” MonDragon said it’s necessary to barter for a service like babysitting.

“There are some beautiful ideas that go along with [freeganism],” MonDragon said, “but I need a baby sitter, so I need to barter.”

For her part, MonDragon offers to provide child care services or music lessons on her end of the barter deal, but since her trades often involve people looking after her child, she said she takes extra precautions when selecting someone for the other end of the trade. Her advice? Take things slow.

“There is no rush,” she said. ” Get references [and] get to know the people you’re working with. If people ever ever want to rush you, don’t trust them.”

Some other tips for mastering the art of the Internet barter:

* Go with your gut. MonDragon drives the point home: “Creeps often come across as creepy.” If someone wants to rush a deal or starts pelting you with off-the-wall demands, you have every right to pull the plug on the transaction. It’s online bartering, not an arranged marriage.

* Do some “freesearch.” Sites such as SwapTreasures and BarterQuest offer barter services in the same manner as Craigslist. Peruse the postings around campus, in local coffee shops and in alternative newspapers. You might be surprised at what you find.

* Tell people where you will be when it comes time to trade. Better yet, bring a friend with you when it comes time to swap, and meet in a public place. “If you have a cell phone, bring it with you when you go to meet people,” MonDragon advises.

* Scour sites for freebies. Craigslist has a robust “free” section on the site, where its denizens give away everything from furniture to old CD’s, and the recession has influenced SwapTreasures to build a “donation” area to its site in order to provide users with items they need. (Spring cleaning, anyone?)

If you’re not quite ready to venture into the world of online trading, another option could be to start a bartering club or meet-up group amongst friends or classmates. Some tips:

* Make your purpose known, then build a community. Start a Meetup group, which would allow people to RSVP, post their needs and network with each other. You can also publicize through Facebook, Twitter and other channels.

* Don’t be afraid to reach out. Maybe your neighbor is fantastic at cutting and coloring hair, and maybe you’re awesome at graphic design. Maybe said neighbor could use a new business card logo as badly as you might need your roots done — do you see where I’m going with this?Don’t be shy.

* Have fun. You might discover new friends, a new lifestyle or a new hobby you never thought you’d develop. “Someone I am working out a barter with wants to teach me fire spinning,” MonDragon said. “That’s pretty awesome.”

5 Tips for Business Owners

Originally posted:
http://myfinanceblog.co.cc/5-creative-tips-for-business-owners-to-obtain-financing

Posted On: February 28, 2010

Capital is the crucial ingredient for any business to grow. This holds true whether you are a one-person firm with minimal revenue or a 100-person company with significant sales. Yet so many entrepreneurs and business owners complain about how difficult it is to attain. Here are just five of the numerous ways to access capital taken from the informative new book, Solving the Capital Equation.

Form strategic partnerships. Consider the following: Who is already reaching your client or customer base? Who offers products or services that may be a great fit for your client or customer base? Who has a skill set or functional expertise that your firm lacks? All of these entities would make great prospective partners. Identify them, then craft a win/win partnership. Why spend money you do not have when you have something else of value to offer them – your firm’s product and services! You can use partners to access the sales force, marketing, IT, accounting, management expertise – to name just a few – of the services you would otherwise have to pay for.

Barter. As a business owner, you have a product or service that someone wants. Otherwise you wouldn’t be in business. You can barter these products or services for those products and services you need to grow your business or service your customer. Or you could barter for personal items that you would typically have to withdraw funds from the company to pay yourself then pay for directly. You can barter for advertising, travel, legal or accounting services, televisions, landscaping, cleaning services. There are a lot of free barter websites, try it you can save a lot of money!

Find a strategic investor. Is there a larger company that would benefit directly from your service or product offering? If so, contact them. If you can convince them that your company can directly or indirectly positively impact their bottom line either through a sales increase or a cost reduction, you are likely to garner financing in the form of direct equity, a loan, use of their credit, prepaid contracts, or payment of development costs. Look around. Potential strategic investors abound.

Tap your suppliers. Are you trying to rapidly expand your business and need money to pay your suppliers? Why not ask your supplier to advance you the money? If your expansion will contribute a sizable portion of your supplier’s annual receipts, you can induce the vendor to provide a 12-18 month loan by promoting how he/she stands to benefit. At the least, negotiate a 90-day payment arrangement.

Seller finance. Who knows the business or asset better than the person or entity selling it? If you are growing your business through acquiring other businesses, seek seller financing. Give them a lien against the business so they get the business back if you default. Suggest it as a way for you to know you are getting what you paid for. Added benefit: reduces risks that the company has hidden problems which greatly decrease its value and that the owner would start another competing business.

Use these ideas to spark your creative thought process and get the money you need to elevate your business. You will see it works!

Who Needs Money? You Can Barter!

Posted on: January 19, 2010
Originally posted by: Kathryn Buschman Vasel, FOXBusiness
http://www.foxsmallbusinesscenter.com/strategy/2010/01/19/small-businesses-need-know-bartering/

The old-fashioned technique that allows busine

When Carrie Kerpen of Buzz Marketing was looking to create the “buzz” needed to get her business off the ground she faced a typical entrepreneur’s dilemma: she didn’t have any extra funds to allocate to the cause. So she took an old-fashioned route: bartering.

Starting out cash-strapped, the company –which today has 8 full-time employees and 30 part-timers in offices in New York City and Boston — worked out a quid-pro-quo relationship with a flower retailer that needed marketing help.

“The company provided us flowers and gifts that we sent to potential clients after meetings.  It really added that extra ‘Wow’ factor,” said Kerpen, who founded the company with her husband in 2006. “It definitely made us look more creditable and helped us snag clients.”

Bartering allows businesses to exchange goods and services without hurting cash flow, which can be especially tight in today’s economy. Business-to-business barter transactions generate $12 billion annually, according to the International Reciprocal Trade Association Last year, more than 250,000 businesses engaged in bartering to help boost revenue. In these days the people come back to the old way of trading and if you need theirs and they need yours who needs money anymore?

To get off on the right foot here are five tips to keep in mind when bartering.

No. 1: Start Small

If it’s your first time bartering, don’t jump in head first, said Danielle McCormick, founder and CEO of MyCubi.com.

“If it’s a big project start with the person doing a small task to make sure the long-term relationship is going to work,” she said.

No. 2: Don’t Sell Yourself Short

If you are using an online bartering site make sure to really sell your qualities—treat it like a dating service.

“If you are an electrician include your experience, number of clients, a list of skills, recommendations and before-and-after pictures,” said John Moore, founder of the online bartering site U-Exchange.

Moore said businesses that are interested in bartering should go for it.

“Don’t just sit back and wait for people to come to you—make the initial contact to see what is out there,” he said.

No. 3: Keep it Professional

Treat a barter client like any other client, said Kerpen.

“Compare prices with others in the industry to make sure you are getting a fair deal and put everything in writing,” she said. When drawing up the contract, be sure to include a deadline for the services or goods to be delivered.

No. 4: Stay in Contact

It’s a good idea to check in with the barter client to make sure the exchange is on track.

“Have a monthly status meeting if the deal is long term. Communication is key, and you want to make sure everyone is happy,” Kerpen said.

No. 5: Don’t Forget Uncle Sam

There is no loophole for bartered transactions and trades are taxable in the year it is performed, according to the IRS.

The fair market value of the goods and services being exchanged should be declared as tax income.

Profit Rescue – 7 Tips to Improve Cashflow

tips

Posted on December 14th, 2009

http://hotkeys.typepad.com/developing_people/2009/12/profit-rescue-7-tips-to-improve-cashflow.html

Staying profitable can be a challenge for any business, even in the best of times. In a tough economy like this, it’s even harder. But there are several ways to keep profits flowing in, whatever the economy is doing. Here are seven creative ways you can build and maintain positive cash flow:

1. Reconnect with past customers or clients. Every company loses a certain number of customers over time, for no particular reason. Some people will just drift away or forget about you. If you contact them (either in person, or by phone, mail or email) and tell them that you’ve missed them, then offer them a special deal to reactivate the relationship, many of them will take you up on it.

2. Dedicated referral systems. Most business owners cross their fingers and hope their customers will recommend them to friends and family. Smart business owners make it easy for them to do so by giving them a self-serving reason to, such as discounts, bonuses and referral fees.

3. Make irresistible offers. Contact everyone who does business with you and tell them that, in honor of a special occasion, you’re making them a limited-time special offer. If you don’t have such an occasion, make something up. Just be sure to give a plausible reason for the offer.

4. Raise your prices. This sounds scary, but it doesn’t have to be. You can test a different price point on a small segment of your customer base to see how it goes over. If you get a positive response, you can safely expand it to the rest of your list.

5. Get other businesses to endorse your products or services. Find businesses related to, but not in direct competition with yours. Convince them to endorse you to their client list in exchange for either a percentage of profits or a flat fee. They should be agreeable to this because you’re opening up a new profit center for them, at no cost and with very little effort. Who wouldn’t like the sound of that?

6. Exploit your underutilized assets. Do you have equipment, office or warehouse space, or employee man hours that you’re not using to their full capacity? If so, there are probably a lot of companies out there that would be happy to pay you to rent them from you.

7. Barter. Bartering your products or services can benefit you in two ways: One, you can barter for essential services, thus cutting your overhead; and two, you may be able to barter for products that you can then turn around and sell. Just remember, though, that the IRS regards barter arrangements as taxable income.