Learning the Lingo
So you've decided to start bartering and you happen to come across words like, "The Boot" and "Horse Trader." If you're familiar with these terms then you're one step ahead. If they seem a bit confusing, not to worry. Here's a brief explanation.
The Boot is something you throw in to make a trade equal for both parties. Let's say you are trading a $1000 computer and you are willing to do some renovations for it. The renovations are only worth $800. How do you make the deal even so both parties have a fair trade?
Throw in that extra T.V. that you never use or cash to even the trade. "I'll do the renovations for you plus throw in a 28" T.V. or $200 cash to boot," Done Deal!
The Horse Trader
A horse trader is someone who has a real knack for setting up deals with three or more people. Taking into account what people are offering and what they are seeking in return and putting forth a deal that will solve all of their needs.
For example: You have a mechanic, a radio station owner and a website designer. The mechanic is looking to run $2000 worth of radio ads informing customers that he is opening a new garage on the other side of town. The radio station wants someone to update their website and add some new features. The website designer is talented when it comes to computers but has never been very good at fixing cars. He knows that his transmission is slipping and needs to get it fixed soon.
The horse trader then sets up a deal to satisfy all of their needs. He could be the mechanic, the radio station owner or the website designer.
Horse Trading is a real art and if you ever find someone who has that gift, be sure to keep them updated on your needs.