Is it possible to promote and grow your business by bartering?  Of course it is!

Whether you’re just getting started with your creative business or you’re already well established, you’ll likely reach a point when you need something. Maybe it’s a logo or business cards. Maybe it’s some copy to launch a new product, or extra social media exposure. Or maybe it’s someone to walk your dog while you’re busy running your shop. Whatever your need, you know it’s going to come with a cost. Unless, that is, you shift your mindset from a transactional point of view and consider bartering instead.

When I was first transitioning from a full-time corporate communications gig to running my own show as a freelancer, I established a barter to help create my marketing materials—something that could have come at a steep start-up cost. I’d met an incredible designer while attending a creative conference and we stayed in touch after she returned to Chicago and I went back to Seattle. While we were chatting one day about our businesses, she mentioned that she was in need of some copy and asked if I’d be interested in a trade. I would help write and edit her newsletter and she would design my collateral. It was an ideal solution and I’ve been an avid proponent of trades ever since.

Not only is bartering cost-effective, it also gives you the opportunity to forge a productive working relationship that may lead to more work down the line through referrals and word of mouth.

The many benefits of bartering include:

• Cost savings—Although you are investing time, bartering still saves up-front costs. This may also enable you to obtain a product or service you need sooner than your budget would otherwise allow.

• A chance to build your portfolio—Engaging in a trade is essentially like adding a new client to your list. With their permission, you’ll have another stellar piece of work to share in your portfolio. A barter could also be a way “in” with a new client you’ve been targeting.

• Developing a referral network—Trading services or products is a great way to increase word of mouth marketing and referrals. When people complimented the design of my collateral, I was always happy to give credit to my designer and offer to put them in contact.

• The opportunity to be more creative—Working with someone through a trade may provide the opportunity to really extend your creativity. Sometimes a bartering partner is more willing to take a risk on something new and different than a traditional paying client may be.

• Engaging in a mutually rewarding process—Finally, trading is a rewarding process with reciprocal benefits for both parties.

So, what steps can you take to put bartering into action? First, consider your product or service offering. Then, depending on your needs, do some networking to expand your professional circle. Finally, take the initiative! Think creatively about the benefits you can offer to another entrepreneur or businesswoman. If you’re a photographer, offer to take some product shots for a crafter’s Etsy site in exchange for them posting your logo and link. If you’re a blogger in need of a website redesign, write a featured post and promote the designer’s work on social media sites in exchange for a new look. Teach a cooking class? Offer premade meals for a week or free instruction. You get the idea!

Next time you’re taking stock of all your business needs, don’t reach straight for your wallet. Instead, figure out how to leverage your skills by bartering—a cost-efficient (and often fun) way to promote and grow your business.

{Featured image via Bigger Than Giants}