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April 24, 2012

Written by Bob Meyer, Editor of BarterNews

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In-depth Look At U.S. Trade Exchange Industry’s Size

Editor’s Note:

In mid-August of 2011, the most ambitious attempt was made to ascertain the size of the trade exchange industry in the U.S. Steven White, CEO of ITEX, likened the effort to better understand the size of the industry to be very important — similar to that of a Corporate Balance Sheet.

 

Working in conjunction with BarterNews, a member of the ITEX corporate staff contacted each and every trade exchange on the BarterNews website list   http://barternews.com/mappage/default.htm. The goal was to see what exchanges were still in business. If no longer in business, the listing was deleted from the BarterNews trade exchange listings.

 

An exchange was considered no longer in business if: no one answered the phone or the phone was disconnected; their website was non-existent or not working; and no information was found about the exchange on whitepages.com or on Google. After a month of effort over 100 trade exchange deletions were made.

 

Below, in a letter from Steven White, are the conclusions of the trade exchange industry’s size in the United States. Given the continual media questions about the size of the trade exchange industry, this endeavor to ascertain a more realistic figure as well as perspective was important. We welcome your thoughts and feedback.  

April 20, 2011

Mr. Bob Meyer
BarterNews
Laguna Niguel, CA

Re: Barter Industry size

Dear Bob,

The size of the barter industry has been debated for many years and, consequently, has created many opinions. ITEX, in partnership with BarterNews, took on the task of trying to quantify the results for the industry in the United States. Here was the process:

1.    Verified the map of USA barter companies at BarterNews.com was accurate;

2.    Updated the map listings. Since 2005 both ITEX and IMS have acquired dozens of exchanges, which consolidated more than 75 office locations;

3.    Synchronized the map listing with NATE and IRTA membership directories;

4.    Verified every website or business listed at BarterNews.com’s USA map.

Next we utilized ITEX’s internal database for cash revenues, number of members, the average size of an office and the amount of revenue generated per member. We reviewed the public filings for IMS and news releases of TradeBank, and then we averaged all the numbers together to create a benchmark.

Below are our conclusions for the industry size in the United States:
Number of barter business locations: 295
Membership: 88,577
Cash revenues: $56,511,862
Transaction volume: $680,000,000

I understand our methodology is not an exact science, however, I hope its gets us closer to the mark. Accuracy is the goal. We certainly appreciate any positive feedback to further authenticate the facts as we show them.

You may e-mail Bob Meyer at bmeyer@barternews.com, letting him know if ITEX can utilize any statistics you may have or request he keep the information confidential. ITEX will only use any industry information for the statistics and never disclose the source without your expressed permission. We will share the consolidated data, with BarterNews for periodic updates.

Sincerely,

Steven White
ITEX Chief Executive Office


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.


Growth Is Not A Mistake ... It Takes Focus & Understanding

The founder and CEO of Gazelles, Verne Harnish, says companies hit a wall when they reach a certain size and unless they take the right steps they’re doomed to remain small. The biggest challenge for companies with revenues of $1 million to $10 million is often the role of the founder ... for three reasons.

1)    As the business becomes more complex the entrepreneur simply doesn’t have the time to devote to the task he or she has always done best. Subsequently, that task is likely to become a weak link in the organization. A critical decision must then be made to bring in a person to replace you in what has always been your forté. (Often it’s sales and marketing.)

2)    As products and customers are added, the original accounting system likely won’t be robust enough to track all the costs. In short, growth geometrically increases the complexity; without enough detail you may not know where you’re really making the money.

3)    Once you’re above $10 million the gross margins fall apart, because now your company is on the radar screen ... competitors have taken notice. Meanwhile the size of your orders increases, and customers start demanding a discount.

In order to combat this, you have to become laser-focused on your value proposition and know why you’re different than your competitors...so you can hold onto your price. One way to differentiate from your competition is to use barter as a part of your selling effort. Barter is a value proposition your buyers will understand and embrace.

* * ANNOUNCEMENT * *

25 Years Of BarterNews Issues Now In Digital Format

Welcome to the largest repository of barter contacts, strategies, and barter techniques in the world. All 64 issues of BarterNews now available in digital format at http://www.barternews-ezine.com.


Positive Personality Lessens Your Heart Disease Risk!

The American Heart Association says a D personality (D=distressed) is dangerous to your health. Negative thinkers, who worry about small everyday events, for example, are four times more likely to have a heart attack.  On the other hand being an indomitable optimist can lessen a person’s risk of getting coronary heart disease.

So, focus on letting go of those negative feelings and avoid worries about minor problems. Opening up to people also helps as you get some relief, it builds intimacy, and you obtain a sense of  control.


Money-Making Reports Available From BarterNews


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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... www.barternews.com/secondary_capital.htm.


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.


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We welcome your comments, questions, and observations.

© Copyright BarterNews 2012. Redistribution of BarterNews content expressly prohibited without the prior written permission of BarterNews.
 

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