There are two types of barter that a small business can explore: a one-to-one trade or triangulation. One-to-one trades are the simplest form of barter. You simply go to the most suitable business and propose a trade of your product or service for one of theirs. One-to-one trades can also allow small businesses to enjoy significant cash savings, because they can trade something at retail for somet
hing of equal value in the marketplace. The other form of barter is called triangulation. That’s when you involve three or more transactions in a barter deal. This form of barter comes in handy when the straight one-to-one transaction doesn’t work out because your initial partner is not interested in your product or service. In that case, you can find another partner with something your initial partner may want. Get control of that product or service and then go back to the initial partner and complete the trade. If you’re going to try bartering, start with someone with whom you have a level of rapport. Maybe you know Web designers, graphic designers, printers or advertisers who might benefit from your products and services. If not, try out your first triangulation deal. Be flexible and make sure you come up with a win-win proposition. If someone else charges more hourly for their work than you do, you may have to offer more hours of your time for less of theirs. Think about the things that are missing in your business that you can’t afford to pay cash for but that would help your company grow better or stronger. Focus on going after barter deals for them. Whatever you decide to do, start small. It will allow you a chance to refine your pitch, get comfortable with the process and become a seasoned specialist in business barter.
