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November 3,  2009

Written by Bob Meyer, Editor of BarterNews

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From the desk of Bob Meyer...11/03/2009

White Delivers Corporate Overview At Growth Stock Conference

ITEX Chairman and CEO Steven White spoke at the Security Research Associates Growth Stock Conference in New York City recently. The conference was held at the Omni Hotel on October 19. White discussed ITEX’s current operations and the company’s web services strategy.

Don’t Forget To Redeem Your Frequent-Flier Miles

There’s an estimated 12 trillion unused frequent-flier miles in circulation worth an estimated $200 billion. It’s estimated 20% or more of all miles will never be redeemed — in part because of confusing airline policies and scant notice of approaching expirations.

Airlines have been tightening up expiration rules, partly in response to an accounting change last year that made it more onerous to carry these liabilities on their books.

USA A Nation Of Small Businesses

An estimated 90% of U.S. businesses are family-owned or controlled, from traditional small businesses to about 30% of Fortune 500 firms, according to the Small Business Administration.

While it’s difficult to be precise on the number of small businesses that have closed in this recession, experts say the prolonged slump has hurt a significant number. About 4.3 million businesses with 19 or fewer employees closed between the fourth-quarter of 2007 and the fourth-quarter of 2008, according to the Bureau of Labor Statistics.

International Monetary Systems Announces Stock Buyback Effort

International Monetary Systems (OTCBB:ITNM) Board of Directors has approved the repurchase of up to 4% of the firm’s outstanding shares, effective November 9. 

CEO Don Mardak says the current stock price fails to reflect the value of the company, as IMS shares at current prices are trading at about one-half of book value and one-third of net revenue.

ITEX Annual Shareholders Meeting Planned

The ITEX Corporation (OTCBB:ITEX) Annual Stockholders Meeting will be held on Friday December 11, 2009 at 10 a.m. at the company’s offices in Bellevue (WA).

All back issues of "From the Desk...” can be accessed by clicking here.

(Please feel free to forward our newsletter to your friends and colleagues. We have a “box” at the end of the newsletter for your convenience. See you next week. . .)


(The following article was provided to BarterNews by NATE.)

NATE Holds Successful Convention In Las Vegas

Members of the National Association of Trade Exchanges (NATE) came together October 25 - 27 in Las Vegas with a renewed spirit to get the organization relaunched with new vigor.

During the business meeting, the by-laws were changed to increase the NATE board from five to seven members. Maurya Lane of Barter Business Exchange and Kim Ames of TradeAmericanCard were elected to serve on the Board of Directors for three year terms.

The Board of Directors voted to extend the current officers of NATE through the 2010 annual convention.

President - Gary Oshry, New England Trade
Treasurer - Rachel Taylor, Alamo Barter
Secretary - Karen Welch, We Trade Network
Director - Ric Zampatti, The Barter Company
Director - Mary Nove, Executive One
Director - Maurya Lane, Barter Business Exchange
Director - Kim Ames, TradeAmericanCard

The BANC Board of Governors will consist of 5 members:

Ken Flemmons, Southern Barter Exchange
Gary Oshry, New England Trade
Rachel Taylor, Alamo Barter
Fred Detwiler, Trade First
Mary Ellen Rosinski, Tradesource - Arizona

The association membership voted to restructure the Ethics Committee.

Four NATE members will comprise the committee and be responsible to foster fair and equitable business practices among its members, as applicable under the NATE Bylaws and BANC Trading Rules & Procedures.

Paul Richardson, Arizona Trade Exchange
Don Mardak, IMS
Ric Zampatti, The Barter Company
 

BANC board representative (To be determined after first meeting of BANC Board of Governors.)

The following are representative comments by members attending the convention:

“I had a great time at the convention. I liked how you had everyone eating together at the restaurants. It gave me time to mingle and find out what is going on with each other and what is working for them.”

— Mark Tracy, American Commerce Exchange

“Thanks for putting on such a good show! It was fun, the food was good, the interaction was great, the attitudes were very positive.”

— Jeffrey Chamblin, Crescent City Trade

“Hey guys, nice job!”

— Joe Prince, Barter Depot

“Words cannot describe the effort and accomplishment Gary and Rachel have achieved in bringing NATE back to life. In my opinion, THE BEST convention ever! It was fun, everyone was relaxed, and actually enjoyed each others’ company. The staunch boring banquets rewarding and praising the ‘good ole boys’ are finally gone forever!”

— Tanya Galdamez, Crescent City Trade 

“It was great to see some old faces who have not attended a NATE convention in years.”

— Ric Zampatti, The Barter Company

 “So good to see everyone.”

 — Kim Ames, TradeAmericanCard

“Great conference.”

 — Kraig Bloom, New England Trade

“This convention brought back what I’ve always liked about NATE exchanges...helping each other. The (first day) was all about getting back to the basics, what has made the barter industry work well for thousands of our members. Congrats on a great convention and the ideas that came out of it!”

— Kenn Flemmons, Southern Barter Exchange

“The convention was a huge success.”

 — Maurya Lane, Barter Business Exchange

“It was nice to see a lot of exchanges at the 25th Anniversary of NATE.”

 — Mary Nove, Executive One

or more information on NATE click here.


Attention Trade Exchange Owners. . .It’s GROW OR GO!

The magic bullet for growth is sales, always has been and always will be...yet the industry’s overall growth is anemic. Why? Maybe it’s because we’re not providing on-going education about our unique way of doing business. Knowledge is always a pre-requisite to taking sustained action.

And for those newcomers, the lifeblood of an exchange, awareness of and understanding about the value of trading is even more important.

If you expect prospects to come aboard and your members to be more active traders, but you are perplexed when the results are less than you desire...there’s a good reason. You must continually educate and motivate every month--month after month after month!

Such action is necessary because, let’s face it, more cash business, not trade, is of paramount importance to your members. You must break through this “cash only” focus and redirect their thinking toward barter. Although most exchanges don’t see the importance of doing so, many industry leaders are taking action and so can you.

As the owner of your own operation, there is an easy and inexpensive solution for moving forward...look into using The Competitive Edge newsletter. It’s a camera-ready, 4-page, professionally written, informational marketing tool...available in PDF format as well as print. So regardless of how you reach your prospects and clients, you will have the necessary vehicle.

Written especially for you, the busy trade exchange owner, I am certain it will be the best investment you ever make.

For more information about The Competitive Edge, and how it can benefit you click here.


Steps Leading To Successful Reciprocal Purchases

When vendors call on your company intent on making a sale — to acquire you as a new client — you have the perfect opportunity to form a trading relationship, wherein you will use your products or services as a form of payment.

To maximize your efforts toward this end, here are the suggested steps to follow:

·         Tell them how you will buy from them, and the resulting advantages. Plus, explain that by doing business with you in this reciprocal purchasing manner, they will gain a long-standing customer.

·         Ask, specifically, for what you want or expect from them. And reinforce that the method of payment will be in the form of goods or services, not in cash.

·         Restate the benefits of what you are proposing, and then take the first step to close the arrangement.

·         Continue to practice and refine your presentation. As you improve, you’ll be amazed at how often people will give you exactly what you ask for.

·         Don’t give up after one, or even a few, attempts...realize that success is assured by persevering. (As hockey star Wayne Gretzky says, “You miss 100% of the shots you never take!” Take your shots, ask every vendor to participate with you in the barter arena. However, in many cases there won’t be a “double coincidence of wants,” in that they simply can’t use your product or service even though you want theirs.)

·         Don’t panic when this situation occurs. Instead, tell them you still want them to be your most valuable vendor and show them how they can do so, by introducing them to your trade exchange counselor. Vendors can then get what they want (through the exchange), and you’re able to buy from them on trade. In this sales scenario you both win — which is the way business is supposed to work.


* * 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.


·         International visitors look for BARTER CONTACTS in our Global Barter Section. If YOUR exchange isn’t listed see the forms on the lower left of the page. (Click here.)

·         Attention trade exchange owners...thousands of visitors every month visit our BARTER CONTACTS section on our web site where we have names & addresses of barter companies in the USA. If YOUR exchange isn’t listed, or the information is incorrect, you can correct the situation by using the forms to the lower left of the USA map. (Click here.) 

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By “Paying In Advance” You Can Handle Today’s Dramatic Changes

The digital revolution is steadily driving forward, and the emerging new economy represents a tectonic upheaval. We’re going to see as much change in the next couple of years as our parents saw in their entire lifetime.

What does this mean to you? Just this: every business decision must be given its due in view of lightning-fast change. For instance, every time you now extend credit to someone you are in a precarious situation. Today’s suddenness of change, due to the technological and competitive factors now present in a fast-changing world, is the reason.

So for maximum protection, insist on payment with delivery. Whenever possible, work through your trade exchange, because then you’ll be more secure in your business transactions. After all, payment is always made in advance that way!


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