Small businesses often don’t have enough money to pay for all the goods and services they need. So bartering can open up more opportunities for growth.
However, organizing these transactions may be complicated and time consuming for many businesses. But luckily, this is exactly the service that The Barter Company provides. Read about the company’s unique model in this week’s Small Business Spotlight.
What the Business Does
Facilitates barter exchanges between businesses.
CEO Ric Zampatti told Small Business Trends, “Based in Kennesaw, GA, The Barter Company provides businesses with an alternative currency network by using barter dollars instead of cash to handle transactions.”
Business Niche
Personalized service.
Zampatti says, “Our clients tell us regularly that we deliver on our promises of providing exceptional customer service and an excellent barter experience.”
How the Business Got Started
To help small businesses.
Zampatti started The Barter Company in 1996 with a vision of helping small businesses save money on the goods and services they need.
Biggest Win
Becoming a force in the industry.
Through the years, the company has hosted events and participated in industry groups.
Zampatti explains, “Today, The Barter Company is a recognized leader in the barter industry and is the largest, fastest growing barter exchange in the Southeast with more than 2,000 clients.”
Biggest Risk
Investing in new technology.
The tech to facilitate barter transactions improved dramatically a few years after the company started. So Zampatti overhauled the user experience. And luckily, it paid off.
He says, “??Now, barter transactions can be as simple as a card swipe or a tap on our app. Each of our clients has their own individual trade coordinator assigned to them who can assist with trades, answer questions, and find specific items to barter.”
Lesson Learned
Invest in the customer experience.
Zampatti adds, “If I could do it over again, I would invest sooner in the technology we now offer that makes the barter process so easy for clients – from searching for barter opportunities to tracking trades and usage.”
How They’d Spend an Extra $100,000
Expanding their offerings… and the office pet area.
Zampatti says, “I would invest in ways to make it even easier for clients to grow their businesses and customer base through barter. That might include hosting more trade shows or expanding outside the Southeast. I would also expand the current pet area for our adopted office cat Roscoe.”
Philanthropic Mission
Helping shelter animals.
Zampatti explains, “At The Barter Company, we enjoy helping shelter animals find their forever homes. We partner with local and international no-kill animal rescue groups to spread awareness about their organization, mission, and available animals. We have an office cat named Roscoe whom we love to dote on and who welcomes every client.”
Zampatti also adopted two Samoyeds named Jack and Phoenix.
Favorite Quote
After losing a Senate race, Abraham Lincoln said, “The path was worn and slippery. My foot slipped from under me, knocking the other out of the way, but I recovered and said to myself, ‘It’s a slip and not a fall.’”
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Image: The Barter Company, Jack and Phoenix
This article, "Spotlight: The Barter Company Reimagines How Businesses Get the Products and Services They Need" was first published on Small Business Trends
via https://www.aiupnow.com
Annie Pilon, Khareem Sudlow
