As much as I love barter, I’d always rather have cash. Of course I’m not the only person that feels this way. As such, the art and science of turning barter credit into hard cash represents the holy grail of success in the barter world. Within the industry this alchemy is known as “cash conversion.”
In the coming weeks I’m planning on writing a number of articles about cash conversion using this post to over-view the topic and whet your appetite. Here are a few of the many ways that you can turn barter credit into cash. Of course some methods are better than others and some people are more suited to a particular method.
- Buy items on barter that you then sell (on ebay, craigslist, etc.) for cash.
- Purchase items on barter that you would have spent cash on, and keep the cash.
- Purchase items on barter that your friends/relatives would have paid cash for and have them pay you in cash.
- Purchase services/products on barter that you can sell to your regular clients for cash.
- Purchase items on barter that you anticipate will appreciate in cash value like real estate, collectibles, commodities, etc.
- Refunds or reimbursements in cash for purchases that were made on barter.
- Purchase marketing services through barter that will attract cash clients.
I’ll post my thoughts on these different approaches in coming weeks. In the mean time, I’m quite sure I’ve left some other approaches off my list here. Please use the comment area below to share some other ideas.