For most people, contradealing represents a new way to do business, and therefore a new skill to master. You might be unsure about making your first such arrangement, so keep the following in mind to help your first efforts run smoothly.
Understand Your Value
One of the biggest advantages of contradealing is the fact that you can leverage deals of greater value than the amount you’d be given in cash. However, you should still maintain a grasp of the basic value of your services. Use a bartering website to assess the worth of those services, or ask people within the industry if there’s any set standard. You don’t want to risk either under or overvaluing yourself.
Assess Each Potential Client
As well as gauging the value of your own skills and products, it’s worth taking a look at the business you’re hoping to deal with. If they’re a large company with several different departments, you might need a very specialised service in order to attract their attention. If they’re currently advertising for new staff members in an area where you can help out, you might find yourself in a stronger position. If you want to be introduced to a network, look for a larger business which has been established for some time.
Avoid Offering or Taking Cash
Some business owners who are new to contradealing often attempt to use cash as part of a deal, whether that means trying to get more out of a certain client or simply making their own offer more tempting. However, making a straight trade is easier, and offering or demanding money can make it seem as if you’re undervaluing the worth of the service or product itself.
Deal with the Details
Cash might not be involved, but you’ll still want to create a contract and ensure that each party understands what they need to provide and when it needs to be delivered. Try to hammer out timeframes and other details as soon as possible to make certain that the contradeal runs smoothly, and that nobody takes advantage of you.
When you’re making your first contradeal, keep this information in mind to make sure you stay professional, and get the most out of the arrangement.