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March 25, 2014

Written by Bob Meyer, Editor of BarterNews

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From the desk of Bob Meyer... 03/25/2014

NATE Names Platinum Sponsors For 30th Annual Convention

The top Platinum sponsors for the 30th Annual National Association of Trade Exchanges (NATE) Convention, to be held in Orlando May 15 - 18, are Trade First and Trade Studio. (Such sponsorships are an important part of a successful convention, according to convention planners.)

IMS Continues Progress In Building Infrastructure

The nationwide International Monetary Systems, a publicly traded company, has reported quarterly earnings recently and has made additional stock repurchases in addition to reporting higher earnings.

For more info, click here.

ITEX Continues Virtual Barter Focus With Coffee-Sleeves Purchase

Some 700,000 coffee sleeves are in circulation in San Francisco, Seattle and Portland. On the sleeve ITEX asks the question: Virtual currency or barter — who wins?

Meanwhile, CEO Steve White is attending the Coin Summit conference in San Francisco — a two-day event connecting virtual-currency entrepreneurs, angels, VC investors, and others.

IRS Will Tax Bitcoin As Property

The IRS says it will treat and tax bitcoins as property, a decision that s part of wider efforts to bring more oversight to the digital currency. In its first major ruling related to virtual currencies, the agency noted that bitcoin "does not have legal tender status" and will be taxed under codes that apply to property transactions.

That means wages paid to workers in bitcoins will be subject to federal income and payroll taxes. Those who 'mine' virtual currencies — or create new bitcoins by solving complex math problems — will have to report their earnings as taxable income.

Bitcoins can also be treated as capital assets, regulated under the same rules that govern stocks and bonds, the IRS said.

Consumer Confidence Highest Since January 2008

Consumers are more optimistic about the economy than they've been in years, and that could help heat up the recovery after a deep winter chill. And when people are feeling confident, they spend more in supermarkets, restaurants and shopping malls and are more willing to buy new cars and homes.

(Consumer spending accounts for about 70% of all economic activity.)

Buffett Not A Fan Of Bitcoin

Warren Buffett, CEO of Berkshire Hathaway and one of the world's most astute investors, says, "I wouldn't be surprised if Bitcoin is not around in 10 or 20 years." Buffett called the virtual currency very speculative, a Buck Rodgers kind of thing — like the Dutch tulip mania in 1637.

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Prominent Promotional Approaches

To reach your customers effectively, you should become familiar with the distinct and various approaches of marketing, advertising, and public relations.

Marketing encompasses a range of tactics, such as handing out small gifts bearing your logo, maintaining a presence at trade shows or on the Internet, and providing superior customer service and product support.

Advertising, on the other hand, is simply the process of buying time or space in the print media or on the Internet, television, or radio. It lets you say whatever you wish about your product or service.

Public relation's differs from advertising in that you can't always control how or when information about your company will be presented to the public.

But when your product is mentioned in the news media, it is usually perceived as a third-party endorsement — provided the context of the story is positive or at least neutral.

To determine the best form of promotion for your company, you need to define your budget and goals.


Innovation and Leadership Continues at ITEX

Four Watershed Events in Barter's Evolution:

Barter 1.0  An unnamed cave man bartered to make getting stuff from his local friends easier by trading his gatherings for theirs. While it is impossible to go back and determine the true beginning, we'll just say that Barter 1.0 got off to a rocky start; nonetheless, it has endured for centuries.

Barter 2.0  The modern barter industry was founded in 1960 as Business Exchange (BXI) in Los Angeles, California. Mac McConnell, the creator, had a dream to craft a currency outside of the conventional banking channels. The first transactions used 'stamps', modeled loosely around the 'S & H green stamp' catalog. ITEX commenced operations in 1982 and created the ITEX dollar to facilitate transactions.  Over time ITEX acquired a number of its competitors, including BXI in 2005. ITEX is the largest trading community in the USA and Canada.

Barter 3.0 launched the first barter site on the Internet in July 1998, taking the innovative step of consolidating products, services and members into one main, online database. The Internet was expensive and difficult to enter back then but unrelenting entrepreneurial drive prevailed, as did ITEX when they acquired in June 2000.

Barter 4.0  Virtual currencies are hot and gaining acceptance, thanks to Satoshi Nakamoto's release of the Bitcoin open source protocol software, launching an innovative approach to virtual currencies. By early 2014 the total value for all virtual currencies in circulation has risen to $10 Billion; 15 times more than the entire barter industry of $600 million in circulation (which took 54 years to achieve). ITEX seized upon this momentum in two ways:

Became the first barter company to accept Bitcoin as a payment option in February, 2014; and

Announced launch of Virtual Currency Systems in March, 2014 to provide a Cloud based software platform to power virtual currency models worldwide; and

Bottom Line: ITEX leads with its continued innovation and leadership. Stay tuned for Barter 5.0!

Published by ITEX Corporation CEO, Steven White ? 2014 — World's Largest Depository Of Barter Information

Hundreds of valuable articles, techniques, and strategies are found in the following various barter categories:

(The Barter Categories are found on the horizontal bar at the top - 3rd button from right.)

Money-Making Reports Available From BarterNews

Banker Suggests Expenditure Percentages Allocation

Robin C. Paterson, Sr. VP and chief credit officer of the American Business Bank in Los Angeles, suggests the following percentages for business expenditures of a company's revenues:

  • Sales — Marketing and hiring employees, so you can develop your business: 60%.

  • Infrastructure — Customer service and communications, so you can keep your business: 25%.

  • Product development — New products and services, so you can maintain a competitive edge: 8%.

  • Technology — Enhancing what you already have, so you aren't left behind: 5%.

  • Professional services — Legal and accounting, so you can keep everything legal and under control: 2%.

  • Grand Total: 100%.

Is Your Trade Exchange Missing Out On Valuable New Business?

If your barter company's listing on isn't current, you are definitely missing out on new business. The web site 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.


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How To Get More Sales In Hyper-Competitive
Restaurant Industry

Our street-smart restaurant marketing report shows proven ways to rapidly boost your restaurant's sales & profits.

The Growth and Use of Secondary Capital (New Money) Creates Unprecedented Wealth In Today's New Age Of Possibility

There are many forms of secondary capital — which can be defined as any financial instrument that measures and communicates value in a common language. Would you like to see and learn more about the many forms of secondary capital?

 We have 70 free, informative and inspiring, articles for you in our "Secondary Capital Section."

Check it out...

Get New Money-Making Ideas And Valuable Contacts!

You can obtain useful, informative ideas and contacts in every available back-issue of BarterNews.

Every barter company in the world is listed on our web site, click through to our Global List of Barter Companies.

We welcome your comments, questions, and observations.

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