When I first started marketing my services locally through Jamie’s Notebook two years ago, I wasn’t sure of the best way to get the word out. I couldn’t afford traditional advertising and I knew networking, while effective, would take a long time to be fully effective. After all, networking is about relationships and those take time to nurture.
Around this time, I learned about a new organization called Local Trade Partners that was accepting new members. The idea was that you could trade services for a dollar-for-dollar amount, but in trade dollars. There is a small “real money” fee for each transaction, which is not much more than most credit card or PayPal fees.
I joined the Local Trade Partners and in the last two years, have built up to having a decent flow of trade transactions. Being a local trade partner has opened doors for me in two ways: by offering an excellent referral service and by providing a means for trading that is fair and useful.
Referrals
Like a chamber of commerce or other networking organization, Local Trade Partners has a categorized membership list. If you need a product or service, there are more than 400 members from which to choose. The biggest categories seem to be in restaurants, construction and business services. There are also attorneys, accountants, household items, clothing, technology services… and much more.
When someone needs a specific service, all they have to do is call the Local Trade Partners office and ask for a referral. I’ve received several referrals this way, on top of people simply choosing Jamie’s Notebook from the list. Current members must approve potential members before they are allowed to join the list (approval is passive, members are asked to voice any concerns before a potential member is approved). The approval process demonstrates a certain vetting that tells you the businesses are likely to be reputable.
Fair and Easy Trading
What I like most about Local Trade Partners is the ability to barter in a way that offers choices and fairness.
When I first started promoting Jamie’s Notebook locally, I had many requests for trading services and at first, I thought it was a great idea. The idea was that it would give me exposure, local experience and access to the services being offered for trade. The problem, at least for me, was that usually the service that was being offered was one I didn’t need or want. To be blunt, I needed to earn a living. Bills needed to be paid. I found myself spending more time on “trade” accounts that I didn’t have time to earn money that could be used for covering expenses.
While it’s true that Local Trade Dollars don’t work with the utility company or to pay rent, they certainly work for other expenses! Using trade dollars, I’ve been able to purchase signs for my business, get my computer repaired, eat out at restaurants (a luxury we might not do if it was “real” money that was needed elsewhere), receive a therapeutic massage, and pay for auto repairs. I could also pay for some medical expenses with member medical providers, get my house renovated, buy clothes or jewelry, buy gifts or even go on vacation … all using trade dollars.
Trade dollars work just like standard currency. If you charge $100 for a service in cash, you charge $100 in local trade dollars. It’s a dollar-for-dollar trade. You can then take the money you earn as a trade partner and spend it with whichever partner you wish. The only cash that you must pay is the sales tax and tip.
Want to join?
I encourage Northwest Arkansas businesses to look into joining Local Trade Partners. It provides an excellent network for referrals and in an economy where cash is scarce, bartering offers the ability to provide and receive services without affecting cash reserves.
Contact Local Trade Partners today to find out more.
Category : Blog