International Monetary Systems Bartering for Piece of the Market -BYLN-
An interview with Don Mardak.
Q: Describe your business. What do you do?
A: International Monetary Systems (IMS) is a barter network or trade exchange. We make it possible for business and professional people to trade their goods or services with other members of the exchange, using an electronic currency known as trade dollars. As operators of the trade exchange, IMS functions much like a bank or credit card company, processing the transactions between the members.
Q: What made you start your business?
A: I started the business in 1985, when I learned about the barter industry from a friend. I became very intrigued by the concept and saw it as a way to help other businesses fill their excess capacity and move their unsold inventory.
Q: What has been the most difficult obstacle in running or starting a small business?
A: Early on, the most difficult obstacle was lack of capital. However, IMS became a publicly traded company in 2002 and has raised more than $8 million in a public offering and several private placements.
Q: What do you enjoy most about operating your business? …