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In with the old

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Business Tips

Often, in business we have to throw out old practices and make way for newer, faster, more efficient ways of doing things. As time passes, these old practices are generally pushed aside in favour of new, best-practice models. There is nothing wrong with this in essence, but sometimes, it can be beneficial to go back in time and learn from our predecessors.

With the current economic climate, money is a resource in short supply. People are continually looking for ways to make more money, and place a lot of importance on the actual aspect of making money. What we really need is that which money can buy.  We essentially need products and services, but have become so driven by money, that we often lose sight of what we really need or want with respect to what money normally provides.

So, with money in short supply we need to get back to basics - what did people do before money even existed? They bartered! 

Of course, in a world driven by money, you can’t barter every product or service, but you can most certainly make use of this old concept in modern day business to assist with temporary cash flow problems and/or to preserve working capital.

Bartering is often easier for smaller and home based businesses where contact between owners is easier and there is less red tape to follow. It is a legitimate, effective method to assist in setting up a new business as well.

Think creatively about how you could go about exchanging your services for something you might require but can’t afford right now.  A few examples are listed below, but remember the possibilities are endless.

  • A computer programmer could offer to code a programme in exchange for some computer hardware that might be needed.
  • A web designer could offer to design a website for lawyers, electricians, hobbyists  - almost any profession -  in exchange for any service that might be needed.
  • A technical writer can exchange their writing services to various professions. (An electrician might want to write a manual relating to the profession, but isn’t a good writer and doesn’t have the time).

One of the most important aspects of bartering is to make sure that you trade your services for something you really want and need, and something that you were likely to spend money on in any event.   

The aim is to use bartering as an effective way to get what you need, and to boost your business without parting with any cash.