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Bartering During Tough Economic Times-Cabinet Business Benefits Through Exchange

August 15th, 2009 Leave a comment Go to comments

Everyone’s feeling the economic crunch in one way or another. Cabinet company owners can relieve the pain of falling behind on bills by considering the possibilities of bartering. As business owners surviving through tough times, we should never see things as black and white. Especially, if we are falling behind on paying the cabinet companies bills, we must do everything in our power to make things right with those we are indebted to. Here are a few suggestions as to how you can use bartering to your advantage.

Ideas For Exchanging Services

1) Bookkeepers-This is a possible way to exchange services and save a few dollars. Bookkeepers may be willing to trade out cabinetry work for taking care of the corporation’s accounting records.

2) Accountants-On two occasions I have had the privilege of trading cabinetry work in exchange for doing business with my accounting firms.

3) Attorney’s Fees– Successful law firms and lawyers may be willing to trade out expenses in a barter exchange. In exchange for several thousand dollars, our company completely recovered an attorney’s personal kitchen in his home and also re-laminated the law firm’s office bathroom vanity cabinets and countertops. On another occasion we exchanged legal fees for remodeling some bathroom vanities in a different attorney’s house.

4) Physicians and Medical Expenses-No one is immune to having to visit the doctor, dentist, or chiropractor. Think barter and offer the suggestion if you find yourself in the doctor’s office several times due to some unforeseen illness.

5) Auto Mechanics– My jeep broke down at a horrible time, when I did not have two nickels to rub together. I called my mechanic and he came to the location where my car had just stopped working. One quick look and he estimated the job. I told him that I had no money, but wondered if he needed any cabinet work done. Bam, we exchanged the mechanical work on my jeep for re-laminating his kitchen countertops with new plastic laminate.

At every turn as business owners we need to leverage the benefits of doing barter exchanges. Now more so than ever, we must always see if there is an opportunity to trade work for others services.

I recently was able to work out a deal with a home landlord that we fell behind on rent payments. By the time the exchange was finished, they ended up paying me graciously well over and above the amount of rent that was exchanged. Had I never made the suggestion, I would have been evicted. Instead, because of the barter, they got a great deal on cabinets and I was able to pay the money owed for rent.

We must think differently than we have been during this economic crisis that we are going through in the United States. There are plenty of opportunities where we can do business a little differently than submitting an estimate and getting paid. Things are not black and white any more. We must explore the grey areas. Use the beneficial leverage of doing a barter exchange at every opportunity. In the end, you may just discover that your cabinet business will survive the economic slowdown.

Categories: Business Planning
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