Managing a small business within itself is a hard task, but add financial responsibilities into the mix and it's a whole other beast. Money management is one of the areas that most businesses struggle with the most.
A smart merchant will accept a chargeback as what it is: a learning opportunity. It is a chance to evaluate and enhance your customer service.
When was the last time you had cash in your wallet? If you're like most people, the answer is you can't even remember having more than a negligible amount in there at any given time.
"It was OK, except for the ending." Have you ever heard that said about a movie? It's a common review of movies that have great special effects, an outstanding cast and good action scenes, but mediocre endings. The last five percent of a movie can completely change a viewer's entire experience.
Gift cards are extremely popular at large, corporately-owned, big-box stores. But if you proudly own a local small business, there is absolutely no reason you shouldn't explore the possibility of offering gift cards to customers this holiday shopping season. Here's why:
Your POS system is one of the most important parts of your business. With today's technology, it is your tool for completing transactions, managing/updating your inventory, and keeping track of your employee hours and productivity.
There's no doubt that your business should be diving into the world of universal payments. I want to take a little step back this time out and look at the broader issue of "universal payments," which for my purposes will be mobile card readers and mobile wallets.
The next time you're out shopping and supporting the economy, take a quick look at the front door of the store you're about to enter. There's a good chance you will see a sign showing customers which forms of payment the business accepts, typically credit card logos.
Taking a spin through the roster of partnerships announced in the US alone, it's clear Apple is going all in on Apple Pay. Where Google struggled to ink deals with major banks and card carriers, Apple has secured agreements with the big three credit cards.
Like most small business owners, you're willing to try anything that will help you increase sales and help make your company a success. You may have tried new marketing tactics, networking, and even advertising. But have you considered mobile payments as a tool to help grow your business?