How to use ITEX Currency as PaymentIn our last blog post, we discussed how ITEX members can utilize the ITEX Marketplace to barter a good or service for money that is owed them. In that way, it gave a new way to think about how we can settle debt owed us without losing anything of value in return.

Let’s be honest, capital or lack thereof is a constant concern for many businesses. If there aren’t enough dollars coming in, it could mean that other debts don’t get paid for necessary items or it could mean that necessary improvements, services, or marketing has to be put off until a later date. It can become a vicious cycle of want versus need.

That’s where the ITEX Marketplace really shows how valuable it is. You can pay whomever you need to pay in ITEX Currency by asking them if they would be willing to become members of the ITEX Marketplace. Granted, this probably won’t help when it comes to the mortgage or rent of your current location, but it could potentially free up cash that you would otherwise not have.

Here’s a great example of how you can broach the subject of barter and the ITEX Marketplace with another business owner:

“I would really like to be able to do business with you but I don’t have the available cash on hand. I do have ITEX dollars that I could pay these services with if you were a part of the same barter network as I am. “

Or when talking to a new potential business partner:

“You can pay me in ITEX dollars. Do you know about the ITEX Barter company?”

If they don’t know anything about the ITEX Business place then this is perfect opportunity to share the company with them. You can get them to open up a new ITEX account or you can get them set them up as a “Sub Account” under you. What is nice about a “Sub Account” is that it doesn’t cost your business partner anything to open it or to use it. It costs you an additional $5 dollars in cash plus a $5-dollar ITEX fee every cycle that it’s open. If you need more information about this, contact your local trade director.

It’s very rare that a new business vendor wouldn’t want to find out alternative ways to barter their goods and services with you. If you can get them see clearly that it allows them to get valuable goods and services without spending their capital, they’ll jump right on board.

For most businesses, bartering is not their go-to option and that’s totally understandable – they need capital just as much as the next business. But, if they really want to do business, have a need for your goods or services, or the hope to do business with you in the future, the ITEX Marketplace and ITEX Dollars are a perfectly viable option to do business.

Don’t let lack of capital or available cash prevent you from doing business!