The weekly newsletter for everyone interested in barter--the world's most versatile business tool!
November 7 , 2000
iSolve To Work With GoTo Auctions
iSolve has announced an agreement with GoTo Auctions that will drive auction listings and sellers of surplus inventory to the iSolve web site. GoTo Auctions recently launched its ChannelFusion Network partner program, it provides companies with the ability to utilize online auctions to liquidate overstocked inventory or open a new sales channel.
The ChannelFusion technology integrates into a company's back-end inventory system, automating the process and greatly reducing the customary barriers of entry into the online auction channel. (ChannelFusion eliminates the challenges of updating, monitoring, and processing online auctions which prevents many businesses from using dynamic pricing alternatives.)
"This is a win-win for business buyers and sellers worldwide. We're broadening the range of surplus offerings, and at the same time tapping a new sales and distribution channel with online auctions," declared Stuart Kessler, COO at iSolve. "We'll offer sellers and buyers the opportunity to utilize corporate barter as a settlement option, giving them a new tool in their sales kit. At the same time, we're providing a platform for thousands of auction sellers, who will dispose of their excess assets through iSolve."
Bartercard Winner At ANZ Australian Business Awards 2000
Bartercard's new Hong Kong web site has just been launched, www. bartercard.com.hk...and Bartercard Hong Kong Limited was awarded this year's Business Innovation Award by Charles Goode, Chairman of ANZ Bank, in a gala ceremony held at Hong Kong's Grand Hyatt Hotel.
Bartercard was chosen for its recent developments in e-commerce and for continuing to grow its successful business in Hong Kong, with more than 300 businesses now part of the expanding Hong Kong trade exchange network.
ITEX In Turnaround
Doubling of Licensees Company's New Objective
With the closing of the books on fiscal 2000, Collie Christensen, president of ITEX Corporation, reported, "We have shown a complete turnaround and we anticipate profitable operations by the second fiscal quarter of 2001."
Christensen also announced the appointment of Daniela Calvitti as chief financial officer. Calvitti comes to ITEX from Foundation Health Systems, a Fortune 500 company. "Her many years of public company reporting experience will enable our company to meet our goal of being profitable from operations by the end of the second quarter, 2001. She completes the management team which is now focused on expanding our broker network from 72 licensees to 150."
ITEX earned $1.45 million on revenues of $13 million for its fiscal year ended July 31, 2000. That compares to a loss of $10 million on revenues of $19.1 million in fiscal year 1999.
"Get creative...and stop focusing on raising money from banks or venture capitalists."
That's the advice Andrew Sherman is giving to cash-strapped entrepreneurs. Sherman, a senior partner at the law firm of Katten Muchin & Zavis in Washington (DC), is the author of a new book Raising Capital (Kiplinger Books, $34.95).
Sherman says a new mind-set needs to be adopted which centers around managing your company's cash flow and resources.
Start out by clinching strategic partnerships with others that can give you the resources--talent and marketing--that you need. The way to do so, subject to securities laws, Sherman contends, is to pay lawyers, accountants, ad agencies, and other service providers with equity instead of cash.
Another benefit to such bartering efforts is that when these providers are part owners, they will have more loyalty to your company.
Here And There. . .
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