Example - LAWYER

Overview:
New clients will travel further to deal with you because you accept their trade credit in payment for your time and expertise. When they use trade credit instead of cash, they're saving money (see your example scenario below).

Some assumptions:
1) You are the business owner.
2) Your office is open, the lights are on and your staff are in attendance.
3) Your overhead expenses are consistent whether you're working or not.
4) You're seeking new clients and you have some uncommitted time in your schedule.
5) You don't know how you will spend trade credit.

The scenario:
A client retains your service to a total price of $1,000.00. They pay 1,000.00 in trade credit.
You then purchase weekend resort accommodations for $1,000.00 and pay with trade credit.
That $1,000.00 purchase cost you only $120.00 (a discount of 88% saving you $880.00).

Here's how we got there:
Your uncommitted time cost you nothing to utilize, and the trade exchange charged you $120.00 when you spent the 1,000.00 in trade credit (a 12% transaction fee).

Summary:
You acquired a new client just by being a member of Island TradeLink, and you finally found a reason to take a little vacation. This was a successful trade of unsold time for accommodations.

In this example we described a purchase almost immediately after you sold your services - but you don't have to spend your trade credit right away, you can save it like cash. And we described a purchase of resort accommodations - but you can buy whatever you want or need.
View our list of recent purchases for other ideas.

Clients paying with trade credit must be considered extra, new customers. You should deal with them only when you have time not otherwise booked by cash-paying clients (cash IS "King"). You can designate certain periods of time when you will accept trade credit.

It is your time and expertise that the client is purchasing with trade credit. Other costs for things like couriers or document production etc. are considered "third-party cash costs" that the client will expect to pay in cash.

Learn more about the benefits.