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May 22, 2012

Written by Bob Meyer, Editor of BarterNews

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Organized Barter Systems Growing To Alleviate Financial Stress

The current global recession has placed enormous financial pressure on every business sector, every level of government, and virtually every individual on the planet. The prolonged economic downturn has tested peoples� confidence in once-respected financial institutions and government-managed monetary systems.

The recent proliferation of barter exchanges, community currency systems, online barter sites, government sponsored trade systems and mutual peer-to-peer credit clearinghouses are proof of the validity of alternative capital systems� ability to provide meaningful alternative markets to allow businesses and individuals to maintain their status quo and even prosper.

China, France, Ireland and other countries are seriously examining the feasibility of launching their own government sponsored barter systems. On December 8, 2011, the City of London released a report titled �Capacity Trade and Credit: Emerging Architectures for Commerce and Money� with the goal of creating a barter hub of sorts for Europe in London. In the U.S. more than twelve states have legislation pending to create state currencies to serve as an alternative to the currency distributed by the Federal Reserve and commercial banking system.

�The barter and trade industry is justifiably receiving an enormous amount of attention now from both the public and private sectors as a viable solution to replace lost business activity caused by the recession,� says Michael Mercier, President of the International Reciprocal Trade Association (IRTA), the thirty-three-year-old advocate for the global barter and trade industry. IRTA (www.irta.com) anticipates a continued sharp increase in new private, quasi public/private and government backed trading systems in the next decade.

The U.S. government officially recognized organized barter via the Tax Equity and fiscal Responsibility Act (TEFRA) of 1982, which categorized barter exchanges as third party record-keepers and mandated that all barter sales were taxable events requiring the submission of 1099B forms to the IRS. Many other countries are now using the same approach towards organized barter for their taxation model, as they move towards final approval of their own barter and trade systems.

As the global recession continues, and with little optimism about a meaningful recovery happening anytime in the near future, all types of barter and trade systems will continue to flourish and provide much needed long-term financial relief to business owners and individuals alike. And when the global economy does finally take a turn for the better, organized barter and alternative currency systems will continue to play a meaningful role in increasing commerce and improving the bottom lines of businesses and consumers worldwide.

For more information please contact IRTA Executive Director Ron Whitney at 757-393-2292 or ron@irta.com.


Is Your Trade Exchange Missing Out On Valuable New Business?

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Tap Into The Power Of Thanks To Improve Morale & Motivation

In most organizations, daily operations are so busy and stressful that showing gratitude is fairly low on the list of priorities. But according to Todd Patkin, cultivating an organizational culture of appreciation can be the best possible strategy for growing your business.

Most of us are grateful for our family, our friends, our homes, and our possessions, for example. We might also list our jobs � after all, they allow us to put food on the table. And in this economy, we�re lucky to be drawing a steady paycheck in the first place. But does your organization inspire its employees to add anything else to that gratitude list? Are your people thankful for each other, for their leaders, and for the actual work they do? If not (and odds are, that�s the case), you�re risking low morale, a negative culture, and less-than-optimal productivity.

�If your organization hasn�t made a conscious effort to instill an �attitude of gratitude� into your organization, you�re ignoring one of your most useful and lucrative tools,� says Todd Patkin, author of the book Finding Happiness: One Man�s Quest To Beat Depression And Anxiety And�Finally�Let The Sunshine In. �The good news is, there�s no better time than right now to start showing your employees or coworkers that you appreciate their efforts and care about them as individuals.�

Patkin speaks from years of experience. For nearly two decades, he was instrumental in leading his family�s auto parts business, Autopart International, to new heights until it was finally bought by Advance Auto Parts in 2005. During that time, Patkin learned just how valuable a culture of gratitude can be, and he made it his number-one priority to always put his people and their happiness first. (Incidentally, even when his company had to stop throwing big holiday parties, it always gave a free turkey to each employee at Thanksgiving.)

�In so many organizations, employees go through their days assuming that their coworkers, and especially their bosses, don�t notice or appreciate all of the hard work that they do,� Patkin explains. �And if that�s the way you feel, you will just go through the motions. You won�t have any true motivation or dedication, and your productivity will be mediocre at best.�

In the midst of an already-tough economy, Patkin points out, this is the absolute last thing you want for your organization. In a very real way, he insists, tapping into the spirit of thanks-giving can tip the balance between success and growth or stagnation and failure.

�Meaningful workplace gratitude is easiest to spark when it comes from leaders, but eventually that attitude will start to also spread between employees; from there, it�ll even trickle down to customers. All of that is great for business. In other words, gratitude is a motivator and catalyst for growth that money can�t buy.�

If you�re a leader who wants to tap into the power of thanks (or even an employee who wants to start a grassroots movement), read on for Patkin�s how-to tips:

Always say �thank you.� If you have a job that allows you to twiddle your thumbs, you�re definitely in the minority. Most of us have a deskful of things that should have been done yesterday, and it�s easy to use the excuse that we don�t have time to hand out compliments and thanks like candy. According to Patkin, though, there�s no better way to use your time. By taking just thirty seconds longer to get back to your office, you have improved another person�s mood, day, and productivity level. You�ll also be making yourself more approachable and likable, and over time your team will begin to relate to you more positively.

�Always, always recognize it when someone does something well or does something nice for you,� Patkin advises. �No one ever gets tired of hearing compliments about themselves. In fact, I have found that consistent and heartfelt recognition � when it is deserved, of course � is a better long-term motivator than money. Even something as small as, �Thanks for always showing up on time,� can make someone feel great all day long.

�I will say that as a leader, I was somewhat unique in my company because I was a big hugger. Once my people recognized this as a sign of my appreciation and esteem, they would start to worry if I saw them and didn�t end our conversation with a hug! Yes, it�s somewhat counter-cultural, but I encourage you to incorporate hugs or literal pats on the back into your own repertoire, assuming you can do so safely and comfortably. Lastly, remember to acknowledge it when someone else gives you a compliment or a thank you � it�s important for others to know that their gratitude is noticed and appreciated in order for it to continue.�

Take intent into account. The fact is, when you�re in a position to make a grand gesture of gratitude, your intentions may be consistently good � but your plans might not always be as successful as you�d hoped. Patkin recalls that as he tried to show his employees just how much he appreciated them, he came up with many show-the-love schemes. Sometimes those plans were well received; other times they weren�t.

�I�m bringing this up because you need to remember that despite negative feedback, showing gratitude is always the right thing � plus the majority of non-complainers probably loved your gesture. Also, if the shoe is on the other foot and an expression of gratitude that�s aimed at you misses the mark, express your thanks for the thought and go on about your day.�

Start being more open. In your average office, communication is far from completely open. No one wants to bug the boss unnecessarily or meddle in a coworker�s projects (unless, perhaps, that person�s intent is negative). This sort of �keep-to-yourself� culture doesn�t tend to foster total understanding or genuine gratitude. Think about it this way: If a leader is dissatisfied with an employee�s performance, that employee will probably sense that he�s not highly appreciated, and he�ll have no reason to work any harder than necessary. The leader�s bad opinion of the employee will continue and grow worse, further eroding the employee�s motivation. It�s a negative cycle, but according to Patkin, it can be easily broken with a little openness and honesty.

�If you�re a leader, constructively tell your people how they can improve their performances,� he says. �If you�re a team member, be proactive about asking your coworkers and boss how you�re doing and how you can get better at your job. And no matter where you fall on your company�s hierarchy, learn how to receive constructive criticism. I have seen this at all levels � if you don�t accept advice and requests well, you�ll stop getting them and you�ll stop improving. Then you�ll essentially be stuck right where you are.

�However, when everyone is committed to openness and to sparking growth, there will be more improvements, more success, and more opportunities to show genuine gratitude. Plus, showing others that you care enough to either help them or to improve yourself is a form of gratitude in and of itself, because you�re demonstrating that your team is worth the investment of your time, energy, and advice.�

Learn to graciously accept thanks. As Patkin has alluded to before, how you respond to appreciation is also important. If you brush off compliments or ignore expressions of gratitude, even if it�s because you�d rather stay out of the spotlight, you�ll eventually stop hearing �thanks!� altogether � you�ll be discouraging the person complimenting you from reaching out to others in the same way.

�Accepting compliments for my own performance isn�t as easy as showing gratitude,� reflects Patkin. �Over the years, though, I have learned that a response like �Oh, it was nothing,� tends to make the person thanking you feel foolish. This is especially true when a team member reaches out to a leader who�s higher in the organizational pecking order. Whenever someone thanks you or notices something positive about you, try to truly engage with them and let them know that their words have been meaningful.�

Keep the gratitude going outside of your organization. Thank your customers or the people you serve for choosing your organization, and for trusting your team with their money, health, products, or publicity. �Just as employees respond well to gratitude, so do customers and clients,� Patkin confirms. �Especially in a tough economy, it�s vital to let those whom you serve know how much they mean to you so that they don�t take their business elsewhere. I used to encourage my store managers to treat their clients like kings � I�d ask them to write thank-you notes after big sales and to send birthday cards to loyal customers, for example.

�Autopart International also frequently sent drivers with coolers full of sodas around to our accounts when it was especially warm out. One year, we even rented an ice cream truck to visit all of our best customers so that they could have a free frozen-treat on a hot day. Over time, this strategy of appreciation brought us more business and it caused our customers to be less price-conscious.�

Using gratitude to shape your team�s habits and priorities can be every bit as valuable as training programs and industry conferences�at a fraction of the time and cost. �Whenever I saw an employee going out of her way to make sure that the product a client purchased was the best possible value, I thanked her for doing it,� Patkin recalls. �If a store manager made a mistake and came clean to me about it, I thanked him for that, too. Never forget that whatever you acknowledge positively will be repeated.�

�Throughout my years of leadership, I became more and more amazed by just how strong the power of thanks really is,� Patkin concludes. �Gratitude is an amazing motivator, it strengthens employee and customer loyalty, and it can allow you to see a positive change in your company�s bottom line. And especially in today�s not-so-stellar economic environment, it�s extra-important to give your people something to be positive about and thankful for.�

Todd Patkin, author of the book Finding Happiness: One Man�s Quest To Beat Depression And Anxiety And�Finally�Let The Sunshine In, grew up in Needham, Massachusetts. After graduating from Tufts University, he joined the family business and spent the next eighteen years helping to grow it to new heights. After it was purchased by Advance Auto Parts in 2005, he was free to focus on his main passions: philanthropy, giving back to the community, and helping more people learn how to be happy.

Money-Making Reports Available From BarterNews


To Gain Trust ... Be Yourself

People don�t leave companies, they leave managers ... so the saying goes. To start on the right foot with new employees, spend time with them individually.

Spell out what�s important to you, why you do the things you do, and what you believe in. In other words, tell them what they can measure you by in the future.

In turn, they will begin to reveal themselves to you. In the process, you�ve established a basis for trust.

(From Living the 7 Habits, by Stephen R. Covey.)


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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?

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