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August 9, 2011

Written by Bob Meyer, Editor of BarterNews

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IMS Files Second Quarter 2011 Report

International Monetary Systems (OTCBB:ITNM) announced that it has filed its second quarter report on Form 10-Q.

Operations

Cash provided by operations was $567,946 in 2011, compared to $183,410 in the first six months of 2010, a 210% increase.

The company completed the purchase of a trade exchange in Peterborough Ontario at a cost of $61,325, adding approximately 450 members. It is expected that the added office will be immediately accretive.

Selling, general and administrative costs were reduced by $396,015, or 18.6%.

Return to Shareholders

Management and the board of directors feel that the stock of the company is significantly undervalued and presents an attractive opportunity to reinvest. In the first six months of 2011, the following steps were taken to position the company to take advantage of this opportunity:

·         At its April 26 and June 14 meetings, the board of directors approved increases in the amount of stock authorized to be repurchased: up to 15% of the company’s outstanding shares.

·         Financing was secured at attractive, flexible terms to allow for repurchase of shares without hindering operating cash flow.

·         To date 764,017 shares of the company’s stock have been repurchased this year.

·         In June, 1,648,064 shares of Treasury stock were retired, reducing the number of outstanding shares to 8,911,736.

Current Quarter

During the quarter ended June 30, 2011, International Monetary Systems generated revenues of $3,333,139, a decrease of $304,894 or 8%, compared to the second quarter of 2010. This decrease is almost entirely due to a large non-recurring transaction in its media/corporate barter division, which provided approximately $298,000 in trade dollar revenue in 2010.

Operating expenses in the quarter were $3,150,727, a decrease of $50,544 or 1.6% compared to the second quarter of 2010. This decrease is primarily due to decreased occupancy, professional fees, and investor relations costs. The savings in these areas are partially offset by an increase in employee costs, resulting from higher health insurance costs, higher state unemployment rates, and continued investment in our tele-selling marketing model.

The net operating income was $182,412 for the quarter, compared to net operating income of $436,762 in the second quarter of 2010. After adjusting for interest and income taxes, there was net income for the current period of $77,196 compared to net income of $222,717 in the second quarter of 2010.


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Big Names Are Bartering

Charlie Sheen: “Bartered ownership for Charlie.” He’s moving on from his prior hit sitcom with a new sitcom called “Anger Management.” (It’s based on a 2003 movie of the same name.) In the new project he will have an ownership position on the series as well as a certain amount of creative control.

Amar Stoudemire: The 6’10” power forward of the New York Knicks basketball team has two passions in life — basketball and fashion. He recently agreed to provide exclusive content to a 5-year-old sports blog (BigLeadSports.com) in exchange for an equity stake and a revenue sharing agreement in the company. “I’ll provide you with my expertise on my passions for a part of your operation.”

Michael Vick: “Use my name and endorsement for part ownership of your company.”  Vick, the Philadelphia Eagles quarterback, became an equity partner in Double Eagle Holdings — the parent company of Fuse Science. Vick will endorse its line of sports nutrition vitamins and minerals.


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.


Time’s Up! What Do You Really Want?

If you are like most sales people, when it comes down to it, you are downright scared of being direct, to the point, and telling people in no uncertain terms, “Here’s what I want!”

Think about it. There’s a conspiracy that encourages people to bury their most important wants and desires. Marketing trainers use consultative selling to draw people out. Social media consultants say “Selling directly is suicide!” People hem and haw, they’re even afraid to ask you what they want to ask you the most. They feel vulnerable about being honest and up-front. It petrifies even the best of us!

Yet when it comes to being successful in business, being frank, open and clearly asking people to give you what you want is what wins the day.

John Baker, a veteran Fortune 25 management and leadership consultant and author of the new book The Asking Formula — Ask For What You Want And Get It, says the world would be a better place if marketers were totally up front and said, “I’m selling windows today; are you buying?”

Baker spent several years studying the fears and trepidation people demonstrate in situations across the whole spectrum of human interactions. He concluded that people do not know the best way to get what they want. He then documented the simplest tactics and strategies that he observed in the people who were getting exactly what they were after.

Very simply, his discovery was the most successful people ask for what they want. Then they give the three very best reasons that explain why it makes perfect sense to say yes.

Here’s an example. A sales person has met with the client, properly identified the needs and tailored a solution that meets the clients’ needs as well as budget. After the meeting is complete the sales person thanks the client and says that he will follow up with him in a few days.

Even experienced sales people, young and old are often stumped over asking someone for the order. They stumble and bumble their way through touchy feely talk about their hobbies, the weather, their pets, family or weekend plans, anything but what they are really after.

Oh sure, all sorts of experts tell you that it’s important to build a relationship, or you have to draw out the prospect, or listen for buying clues, and any number of other items, but the crucial, bottomline issue is that they never get around to asking the big question.

“It is crucial,” Baker says, “to identify the exact most important request, and brainstorm before you decide on the best reasons. Each reason needs to be carefully selected from a larger number of options, and then be backed by three important facts.”

It’s about that easy, and the power of this strategy is more than amazing. Baker has shown that this method can be successfully used to penetrate difficult accounts, close difficult sales calls, shorten a sales cycle, protect price margins, reduce meeting time, speed up Powerpoint presentations, structure personnel reviews, sales letters, company communications with suppliers, corporate memos and even e-mail messages.

What’s more it is proven to be quite helpful in corporate and business personal interactions with personnel, especially with supervisors and staff. Conversations are clearer, there is less misunderstanding and you come across as being thoughtful.

Baker’s formula has three key rules:

  • Only offer information that is meaningful. (The rest is trivial.)

  • Get to the point and ask for what it is you want.

  • Be quick about it.

Building a relationship is great, but over-doing it turns you into a nuisance. The biggest problem with being consultative, for example, is that it gets in the way of the selling. It’s technique overload. It targets intimacy over decorum. It allows for procrastination. It enables salespeople to avoid rejection. After all, if you are busy probing the needs of the prospect you don’t have to risk asking for the sale.

Can you image a vendor at a ballpark consultatively selling you a hot dog? “On a 1-to-10 scale, rate the level of discomfort with your hunger?” “Tell me your main objective with the hot dog?” “When you had a hot dog before, how satisfied were you with the mustard and ketchup ratio?”

Isn’t he more effective when he just yells: “Hot dogs, hot dogs, come and get your hot dogs!” Just give me the darn wiener!

For more information on John Baker’s book, The Asking Formula – Ask For What You Want And Get It, go to www.theaskingformula.com.

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Give Yourself A Break

If you’re burning a lot of energy and concentration on a task, you should take more breaks not fewer. Because even a few minutes away from the task will increase your overall productivity by easing tension — keeping you upbeat, and refocusing your mind.

If you find that hard to accept, consider this: You can work for two hours at an unfocused 75% to 80%, but a 15-minute break will allow you to work for an hour and 45 minutes at 100%.


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

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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.


Company Mottos That Encourage Innovation

The following slogans show innovation is valued over possible mistakes:

1.    We reserve the right to make mistakes. (Hewlett-Packard)

2.    Use your good judgment at all times. There will be no other rules. (Nordstrom department stores)

3.    We don’t shoot managers that err; we shoot managers who do not take risks. (MCI)


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