Effectively Using Barter for Business

Why I joined a barter system?

•   I needed exposure to a new group of clients.

•   Turbo-boost over the initial start-up

•   Build my portfolio with easy sales

•   Less cash going out of business

Starting out:

•   Didn’t do anything because I didn’t really understand how to get started.

•   First Customer $1000.00 sale – Woohoo!

It was on!:

• I revamped my entire spending for personal and professional –Pharmacy, school supplies, computers, projector, ink, snow board, skateboard, shoes, gps, iPod, gifts, food, office supplies, glasses, dentist, jewelry, gutters, landscaping, mulch, VCR, DVD, guitar, Mary Kay, pampered chef, backpacks, bike, bunk beds…

How to build a successful Trade Business:

• Build relationship, don’t just make transactions

• Treat trade customer the same as cash customers – they can lead to cash customers (only if they would recommend you even if you weren’t on trade)

• Remember you should be treated like any other paying customer – just because they can’t do it right away doesn’t mean its because you are on trade. You may just have to wait your turn.

•  Realize not every trade business is the same. If you have a time service that you can offer 100% on trade it does not mean that everyone else is able to offer 100% on trade. Some businesses have up front $ charges that it just doesn’t make sense that they would be able to offer 100% on trade. Be reasonable in your expectations and you will be treated reasonable as a customer.

• Encourage Trade partners to use your other services and learn about your company. Create ambassadors and repeat business not just one-time customers.

Use tradebank as another marketing outlet for your business.

• Daily emails, classified ads, wants and haves online, run specials, attend Trade U, attend networking and social events.

•   Sponsor events, set up at tradeshows, have events and invite Trade members.

Tell other people about Tradebank:

• More members = more opportunities for sales and options for spending.

Get to know your broker and Regional manager:

•   Every transaction consists of 2 of their clients and it only benefits them if both parties are happy.

•   The more they know about you and what you offer the more they can do for you.

•   Contact them before you BUY anything!

Keep Your Customers, Keep them Happy!

The most important thing you do as a business owner is to make your current customers happy. This is the basis for repeat business, referrals and overall ongoing new business for you company. If you cannot retain your current customers you will have a very short-lived existence in the business world. I wanted to break this down to a step-by-step how-to for not only keeping clients but how to keep them happy and coming back!

1. Show that you Value Your Clients Time and Choice to Work with You! – Your client could have gone with any number of other contractors or consultants and they chose you. Your acknowledgment of that fact will show by how you manage your time for them. If you say you will be there – get there and be prepared – on time and without excuses.
“To be early is to be on time, to be on time is to be late.”

2. Communicate. Communicate. Communicate. – So many times, people get contracts and dig right in and do not let the customer know of progress being made. The customer then either thinks they have been forgotten or that they hired a bad choice and start looking for ways to fix their mistake. It is YOUR job to relay to the customer what progress is being made and what timeline you are on for finishing… but do not make the mistake of over promising. Make your time goals realistic and then add a few days for the unseen circumstances that will undoubtedly arise.

3. Be Flexible, but not a Push-Over – Every client is not the same so be careful at being too tied to your personal communication preference or your timeline. Customers sometimes need to spread out a project for financial reasons or may not be comfortable with certain communication methods (i.e. – texting or email when they prefer phone calls or office visits). If you want to retain their business you must realize that you may have to give on your preference for timing and communication. It is better for you to your methods rather than to put your customer out of their comfort zone and create a stress in the relationship.

4. Avoid Surprising your Customer with Billing – You do not want the end of an otherwise good contract to be filled with any surprise about pricing or how they got their bill. In the beginning, you should make it very clear on what the billing process will look like. From down payment to final installment, they should know what to expect and when. You may think it is not a big deal to send a bill right away but for business owners and home owners, they are looking for that bill and want it off their minds and books. There should be no surprises in what the price is either. All contracts should clearly state pricing and how add-ons work so there are no questions. If something gets changed during the contract it should be in writing with pricing quoted clearly.

5. Continuously ask for Feedback – When you are starting the process of a new contract, ask the customer if there is anything you did not answer for them that they have questions about. During the process, ask them how they believe the process is going. After the job is complete, ask for feedback on your performance and if it is good – GET THE REFERRAL!