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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.
�
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!
