Don't fear trade dol­lars

NZ Business - - FINANCE | FEATURE -

Max­imis­ing cash­flow, re­tain­ing cus­tomers and keep­ing stock mov­ing are im­por­tant el­e­ments of any busi­ness. What if we told you there’s a dig­i­tal cur­rency where you can buy and sell prod­ucts and ser­vices us­ing trade dol­lars rather than us­ing cash? That’s where Barter­card can help grow your busi­ness.

Here we fo­cus on five key ar­eas to help busi­ness own­ers get the most from us­ing Barter­card Trade Dol­lars, rather than fear­ing them.

1. TREAT TRADE DOL­LARS AS A SUP­PLE­MENT TO CASH- PAY­ING BUSI­NESS

Op­er­at­ing as a sup­ple­ment to cash busi­ness, the Barter­card mem­ber­ship pro­vides com­plete con­trol over which prod­ucts and ser­vices are sold through the net­work. No mem­ber is ob­li­gated at any time to take on Trade Dol­lar busi­ness over cash-pay­ing busi­ness.

Adding the flex­i­bil­ity of Barter­card to your busi­ness al­lows other mem­bers to utilise your goods and ser­vices with Trade Dol­lars, which can help cre­ate new busi­ness, cus­tomer loy­alty and in­crease prof­its.

2. USE TRADE DOL­LARS TO MOVE IN­VEN­TORY/ FILL OC­CU­PANCY AS BUSI­NESS FLUC­TU­ATES

Spare ca­pac­ity and down­time can be con­verted into new rev­enue by util­is­ing in­ven­tory, equip­ment and em­ploy­ees. Busi­nesses can sell ex­cess stock or slow mov­ing in­ven­tory, with­out the need to dis­count heav­ily. Mem­bers re­ceive Trade Dol­lars as pay­ment, which they then spend on other goods and ser­vices within the Barter­card com­mu­nity which are ben­e­fi­cial to their own busi­ness.

3. TRADE DOL­LARS AS A STAFF RE­TEN­TION/ RE­WARD SYS­TEM

Re­tain­ing good staff is im­por­tant. How­ever, many busi­nesses strug­gle to find ways to re­ward ex­cep­tional staff with­out in­creas­ing wages or salaries. Trade Dol­lars of­fer an easy so­lu­tion: use Trade Dol­lars as em­ployee bonuses, in­cen­tive schemes or gifts. For ex­am­ple, util­is­ing the Barter­card trade ex­change, a busi­ness could gift a staff mem­ber a re­ward such as a din­ner out, us­ing Trade Dol­lars.

4. TAKE AD­VAN­TAGE OF THE VAST MEM­BER BUSI­NESS NET­WORK

Barter­card has a large re­fer­ral net­work that al­lows mem­bers to ex­tend their cus­tomer base and ge­o­graphic reach. This can then trans­late into in­creased busi­ness prof­its. New cus­tomers gen­er­ated by Trade Dol­lars are in ad­di­tion to ex­ist­ing cash busi­ness, so they don’t in­ter­fere with ex­ist­ing busi­ness.

Through re­fer­rals and word-of-mouth mar­ket­ing, mem­bers have an ad­van­tage over their com­peti­tors. Each time a mem­ber spends their Trade Dol­lars, that mem­ber re­ceives new busi­ness from an­other mem­ber’s busi­ness.

5. MAN­AGE CASH­FLOW AND MAKE USE OF IN­TER­EST- FREE CREDIT

Trade Dol­lars are an elec­tronic cur­rency and work in a sim­i­lar way to a credit card or bank ac­count, with the added ad­van­tage that you can con­tinue to make pur­chases even when cash­flow has slowed. Trade Dol­lars can be trans­acted via EFTPOS, on­line over the phone, us­ing the Barter­card app, or by trans­ac­tion vouch­ers.

Barter­card pro­vides the op­por­tu­nity to ex­pose your busi­ness to new cus­tomer mar­kets, im­prove cash­flow, re­duce busi­ness ex­penses and clear idle and ex­cess stock with­out hav­ing to dis­count. It’s sim­ple to use and acts no dif­fer­ently to a nor­mal bank ac­count or line of credit.

Find out more about how Barter­card can work for your busi­ness by down­load­ing their free eBook, ‘How to Use Barter­card to Grow Your Busi­ness’. http://con­tent.barter­card.co.nz/how-to- use-barter­cardto-grow-you-busi­ness- ebook- down­load

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