Get All Access for $5/mo

Try Bartering It may be possible to spend less and get more.

Swapping one product or service for another is a great way toavoid cash outlays and unload slow-moving inventory. Setting upbarter relationships is easy. You can directly approach anotherbusiness owner, or you can hire a commissioned barter broker-lookin the Yellow Pages under "Barter" for leads. Or join abarter club or exchange.

Bartering can be particularly useful for service entrepreneurs,who can easily swap their skills with other service providers. Oryou can barter for benefits with a local dentist or doctor.Remember, though, that the IRS considers bartered good and servicestaxable, so keep track of everything you do.

Excerpted from Get Smart: 365 Tips To Boost Your EntrepreneurialIQ

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Most Popular

See all
Fundraising

Working Remote? These Are the Biggest Dos and Don'ts of Video Conferencing

As more and more businesses go remote, these are ways to be more effective and efficient on conference calls.

By Bryan Lovgren
Growing a Business

The Best Way to Run a Business Meeting

All too often, meetings run longer than they should and fail to keep attendees engaged. Here's how to run a meeting the right way.

By Jacqueline Whitmore
Business News

Some Costco Items Might Be More Expensive If You're Buying Online Rather Than in Store — Here's Why

Shoppers noticed a price difference on some big-ticket items.

By Emily Rella
Science & Technology

AI Marketing vs. Human Expertise: Who Wins the Battle and Who Wins the War?

Uncover the truth about AI in marketing and why it's a ticking time bomb for unprepared businesses! As AI revolutionizes the marketing landscape, understanding its long-term impact is crucial.

By Ben Angel
Starting a Business

How to Find the Right Programmers: A Brief Guideline for Startup Founders

For startup founders under a plethora of challenges like timing, investors and changing market demand, it is extremely hard to hire programmers who can deliver.

By Vasily Voropaev
By Emily Rella