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Empowering Barter Members

By Sergio Lub

Editor�s Note:

Tom Greco recently sent BarterNews the following article with the suggestion that this strategy would increase the trading base of trade exchanges. It�s a method that�s been used successfully by corporate barter companies.

Barter is older than money and is now experiencing a Renaissance thanks to two factors: One is the increasing scarcity of money due to the global recession, the other is new software that increasingly allows people to earn and spend their trade credits as easily as they use PayPal. Our shopping carts at SergioLub.com and WearCopper.com, for example, accept barter as well as credit and debit cards for the payment of online orders.

Barter will grow even larger if it could overcome the persistent problem members have when most of their suppliers do not belong to the same barter group as they do. Understandably, suppliers do not want to incur the time and expense of joining another system, while trade exchange administrators need filled applications to check references, and the application fees to pay commissions to their recruiters.

This old Catch-22 problem will disappear once exchange administrators allow their trusted members to make barter payment to their suppliers, even when they do not yet belong to the system.

The users could input the needed data to process the online transaction, so there would be no typing work for the barter office. The new account would not need extensive credit checking, since it is known and recommended by a trusted member. It also does not need an initial credit line, since a new account would start by earning barter credits, therefore having a positive balance.

A common objection from new potential barter members is: �What if I cannot find where to use my barter credits?� I suggest addressing this problem by having the present member reassure the (non-member) supplier, maybe by offering a �One Year Money Back Guarantee.�

So, instead of paying the printer cash at 30 days (and then asking for more time a month later because others are not paying you), the printer will be able to spend the trade credits right away. If said printer cannot find anywhere to spend them, then you would buy those credits with cash after a year. Even in the rare case that this happens you would still enjoy extra free financing and the supplier gets a chance to play barter with no costs or risk.

An extra benefit of having members sponsor their suppliers is that these new suppliers will deliver goods and services that we normally consume, thus reducing the present disproportion of luxury items. This should also help with the problem of having members �on reserve,� because they cannot find a suitable place to spend their earned credits.

One last objection may come from the exchange�s sales people that recruit new members for a fee. For exchange administrators to allow free memberships, could be considered unfair competition by the sales department people. The administrator could explain that the free memberships are �gift certificates� that members have traded for or have earned, for example one per year of membership.

Furthermore, the administrator can gradually switch compensation for sales people to a percentage of the transaction fees, so their earnings become proportional to the volume of transactions their customer�s accrue. This in turn will give the sales staff the incentive to visit existing clients, helping them become more knowledgeable and efficient in the barter economy.

As more businesses accept trade credits, it does not take long to see a future in which we could choose to issue trade credits to all our vendors, on a trial basis, during the time it takes for their bills to become due.

In the era of networking, tapping into our established relationships is the viral and sustainable way to go. Imagine what will happen when new suppliers in turn earn the right to invite their suppliers, eventually closing trading loops and making the use of money increasingly optional.

Is Your Trade Exchange Missing Out On Valuable New Business?

If your barter company�s listing on BarterNews.com isn�t current, you are definitely missing out on new business. The web site BarterNews.com receives heavy traffic � with over 150,000 page-views every month. Entrepreneurs and corporate executives check the thousands of articles, the weekly �Tuesday Report,� and the �Contacts Section� of our site. They use the latter to find barter companies with which to do business.

Is your barter company�s listing up-to-date?

To keep your listing current is very easy. See the links below to (A) update any changes to your company�s listing, such as new location, phone number, web site or other information, and (B) if your company has not been listed.

Here�s how to get on board:

To make changes to your listing click here.

For new listings click here.

London Research Study Released

A report commissioned by the City of London Corporation, Recipco, and the Economic and Social Research Council, was released in early December, 2011.  The research study

The report, titled �Capacity Trade and Credit: Emerging Architectures for Commerce and Money,� suggests the development of a global-capacity exchange-hub based in London as a means to increase productivity.

IRTA�s Executive Director Ron Whitney attended the research roll-out and stated, �The City of London report is a positive step in increasing overall awareness of the power of mutual credit clearinghouse systems to help solve the world�s liquidity and economic problems. The International Reciprocal Trade Association looks forward to working with the City of London and other credible industry players to bring this noble vision to reality.�

Five �Musts� For Creating Great First Impressions For New Employees

By Polly White

Just as you expect a candidate to arrive for the interview dressed and groomed appropriately, to shake your hand with a firm grip and to introduce himself or herself with confidence, you need to present your organization at its best to create a great first impression. While larger organizations often have extensive programs for their new employees, following these few steps outlined below will allow smaller organizations to enjoy the benefits that come from a well thought-out orientation program.

1. Have a plan. The difference between a worker who becomes productive quickly and one who languishes is often how well they are oriented to their new company. The first hours and days of an employee's new career are the time when they become acquainted with the requirements and expectations of their job, the culture of the organization, and where and how they fit into the company.

You can greatly increase the speed at which your employees become fully productive by having a personalized orientation plan in place for their on-boarding. The plan should balance time spent learning about the organization and their coworkers' responsibilities with his or her specific job duties.

It is not necessary that their first hours be spent filling out the myriad of employment-related forms. This may be convenient for HR, payroll or accounting, but does not create the best first impression. While the employee will eventually need to fill out certain forms, most federal and state requirements allow the new employee and your company several days to complete the task. Spending your first hours creating a friendly, comfortable and productive experience for the employee is a better use of time.

2. Have a place for your new employees to call their own. Whether the employee will have a desk, a locker, a workstation, or a peg on the wall, you should have it labeled, clean and stocked with all of the equipment the employee will need to do his or her job. Nothing says, �We really want you to be happy and productive� like a well-appointed workstation.

When desks and workstations are left empty for any length of time, two things happen. First, any useful equipment, office supplies or gadgets seem to walk away. Second, the empty desk becomes a dumping ground for stacks of papers, files and other debris. The day before the new employee is to arrive, take a few minutes to restock the workstation and clean off unnecessary clutter.

My daughter went to work for a very small company. On her first day, she arrived to find a desk stocked with all the supplies she needed to do her job. In the middle of the desk was a placard engraved with her name. She sent me a picture. It made her feel very important and at home.

3. Introduce them to their co-workers. Most businesses provide new employees with the standard tour and introduction. While this is a step in the right direction, there are ways to increase the benefit to the organization. Spend at least part of the first day celebrating the arrival of the new employee. Have coffee with everyone on the team, allowing time for socializing and rapport building. If possible, add bagels or other snacks into the mix. There is nothing like food to help with bonding and creating great memories.

4. Choose carefully when involving others in the on-boarding process. Unless you have worked with me or attended one of my workshops on recruitment and hiring, I am sure you have not heard the term �curmudgeon buzzard.� It is the term I coined to describe the longer-term employee who feels obligated to swoop in on your new employee and explain in great detail why working in your organization may be the biggest mistake of their career.

The curmudgeon buzzard pecks away at the employee�s confidence regaling their new colleague with stories of times when management was unfair or unkind to the rank-and-file. They carry a great deal of baggage with them that must be unloaded on the unsuspecting newbie. However, they are only effective if they can poison the new employee before he or she has fully formed his or her opinion of the company.

Keeping the buzzards away from your new hires during the first few hours or days of their employment will allow the new employee to form a favorable impression of your company � one that will be hard to change. Therefore, choose wisely! Coach the newbies yourself or assign them to employees who will represent your company in its best light. The rewards will be long lasting.

5. Outline what the new employee needs to accomplish to succeed � then set them up for success. Finally, explain to your employee what you want them to accomplish in his or her first days on the job. Understanding exactly what you want them to do and how you will measure their success will increase the new employee's confidence and the likelihood that you will get great performance.

Make sure that the tasks you select are ones that (1) will be part of the employee's routine assignments, and (2) are very do-able. Remember, you want the employee to succeed in the early days so that they will be eager to take on the more difficult work that lies ahead.

To paraphrase an old saying, employees are not your greatest asset � great employees are your greatest asset. Whether your organization is large or small, make sure you set the stage for their success by creating a positive first impression.

Polly White is a principal at Whitestone Partners. She has more than twenty years of experience working with companies to improve the skills, behaviors and attitudes of their workforce. Her career has included roles in administration, human resources, curriculum and employee development. She is a noted author, speaker and instructor and has worked for companies ranging from small start-ups to Fortune 100 corporations.