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Casual Articles - Letting Them Use Plastic
Recently a new client came to me in total frustration. She had been working with another coach who had insisted she focus on offering, and aggressively marketing, only one service. Now she was out of energy, out of money, and couldn't understand why she was failing. A great salesperson in her previous work, she was struggling to sell enough of this one service to support herself.This talented and skilled professional was on a slippery slope to a failed business. She was using one of the most enticing and dangerous models for the direction of her business: Offering just one service to just one market.One service, one big client, one product, does not make a one-person business that can thriv
A good bank or ISO should provide reliable and trouble-free process
What is stopping you from really getting what you want from your business? This is a question I ask small business computer consulting company owners on a regular basis. Many times business owners are like waves crashing onto a beach. They approach a project much like a wave does, starting out many miles away from the coast or, in this case, project or idea.A great idea gets started much like a wave does out in the ocean and it starts to gain momentum as it gets closer to the coast as well as rising and showing form. Many business owners follow this same approach to their projects or business needs in general. They start off with a great idea, build its momentum and start to create a swell ri
Consumers are becoming creatures of convenience; when dealing with businesses—large or small—they desire ease of transaction. That most frequently translates into the ability to pay for services rendered or product purchases via credit card.
Small businesses are often denied merchant status because they can’t prove to the bank that they are good risks. You must establish and demonstrate a track record before a bank or independent sales organization (ISO) will agree to back your business. Even today, some banks also hesitate to provide merchant status to companies without storefronts, to mail order firms or to individuals with a past history of personal or business bankruptcy. Although thankfully, it is getting easier today than it was even 15 to 20 years ago.
In this article we will help you to understand the reasons you may not be able to obtain merchant status, so that we can help you find ways to more favorably present yourself and your business as candidates for merchant status.
1. Start with your own bank. When shopping for a merchant account, the first place to stop is your own bank.
When banks look at an application, they consider three critical things: the principals, the product and the process. In other words, they need to know about you, what you are selling and how you are selling it. Be sure to take the time to carefully develop your proposal. It can really pay off. Show your bank that you’re serious about obtaining merchant status and you take your business very seriously.
In spite of your best efforts, the bank may still turn you down. The next step is to approach other banks in your area. If you’re still running into roadblocks, there is another option.
2. Investigate ISOs selling on behalf of other banks. ISOs serve as a liaison between banks and merchants. Your odds of getting merchant status from an ISO may be greater than from a bank, but the costs—and risks—may also be greater.
Most ISOs are legitimate businesses, but it pays to be wary. The first thing you should ask any service provider is what banks they represent. When considering an ISO, a merchant should know which bank they are working for, and should check with MasterCard and Visa to ensure the ISO is properly registered. Keep in mind that this service you are buying can have a significant impact on the cash flow of your business, and don’t be shy about asking for references.
A good bank or ISO should provide reliable and trouble-free processi
In my discussions with many entrepreneurs, the question inevitably arises of ''why should a story on my business in the local media matter?'' It is a valid question. Most think of dealing with the media and public relations as in the realm of big corporations and politicians. The fact is public relations has a very commercial application. When promoting your business, you need to consider all the possible marketing methods and advertising efforts.In any successful organization, PR is in fact an integral part of the marketing mix. Imagine if the local newspaper or radio station offered you a free advertisement or even a series of free advertising. What effect could that have on
In this article we will help you to understand the reasons you may not be able to obtain merchant status, so that we can help you find ways to more favorably present yourself and your business as candidates for merchant status.
1. Start with your own bank. When shopping for a merchant account, the first place to stop is your own bank.
When banks look at an application, they consider three critical things: the principals, the product and the process. In other words, they need to know about you, what you are selling and how you are selling it. Be sure to take the time to carefully develop your proposal. It can really pay off. Show your bank that you’re serious about obtaining merchant status and you take your business very seriously.
In spite of your best efforts, the bank may still turn you down. The next step is to approach other banks in your area. If you’re still running into roadblocks, there is another option.
2. Investigate ISOs selling on behalf of other banks. ISOs serve as a liaison between banks and merchants. Your odds of getting merchant status from an ISO may be greater than from a bank, but the costs—and risks—may also be greater.
Most ISOs are legitimate businesses, but it pays to be wary. The first thing you should ask any service provider is what banks they represent. When considering an ISO, a merchant should know which bank they are working for, and should check with MasterCard and Visa to ensure the ISO is properly registered. Keep in mind that this service you are buying can have a significant impact on the cash flow of your business, and don’t be shy about asking for references.
A good bank or ISO should provide reliable and trouble-free process
You may be thinking what does this have to do with jobseeking or finding my dream job. Well, i will tell you. I have always been of the opinion that into today's world or indeed if you are going to be successful in your career you you need to think like a business person. Gone are the days when every aspect of our lives were centralised, in the olden days our forefathers thought like business people. They went out to the farm and had to be independent, catering for themselves and their family.It was later on that we saw the advent of the social state where people became more dependent, and this in some ways has led to people not being able to look after themselves or their families, always looking
1. Start with your own bank. When shopping for a merchant account, the first place to stop is your own bank.
When banks look at an application, they consider three critical things: the principals, the product and the process. In other words, they need to know about you, what you are selling and how you are selling it. Be sure to take the time to carefully develop your proposal. It can really pay off. Show your bank that you’re serious about obtaining merchant status and you take your business very seriously.
In spite of your best efforts, the bank may still turn you down. The next step is to approach other banks in your area. If you’re still running into roadblocks, there is another option.
2. Investigate ISOs selling on behalf of other banks. ISOs serve as a liaison between banks and merchants. Your odds of getting merchant status from an ISO may be greater than from a bank, but the costs—and risks—may also be greater.
Most ISOs are legitimate businesses, but it pays to be wary. The first thing you should ask any service provider is what banks they represent. When considering an ISO, a merchant should know which bank they are working for, and should check with MasterCard and Visa to ensure the ISO is properly registered. Keep in mind that this service you are buying can have a significant impact on the cash flow of your business, and don’t be shy about asking for references.
A good bank or ISO should provide reliable and trouble-free process
Have you established yourself as an Expert in your field? If not, this is a great way to get added exposure, publicity and credibility for you and your business which will ultimately bring you more sales and more money!!Many business professionals I know are so good at what they do but the problem is that everyone else doesn't know that about them. When you think about what kind of image you want to present to the public and business community - what is that? What do you look like (in your mind)?Do you think everyone else sees you the same way or do you suppose they might have a different impression of you? My friends at Y2Marketing call this your “Inside Reality” vs. your “Outside Perc
In spite of your best efforts, the bank may still turn you down. The next step is to approach other banks in your area. If you’re still running into roadblocks, there is another option.
2. Investigate ISOs selling on behalf of other banks. ISOs serve as a liaison between banks and merchants. Your odds of getting merchant status from an ISO may be greater than from a bank, but the costs—and risks—may also be greater.
Most ISOs are legitimate businesses, but it pays to be wary. The first thing you should ask any service provider is what banks they represent. When considering an ISO, a merchant should know which bank they are working for, and should check with MasterCard and Visa to ensure the ISO is properly registered. Keep in mind that this service you are buying can have a significant impact on the cash flow of your business, and don’t be shy about asking for references.
A good bank or ISO should provide reliable and trouble-free process
I recently stayed at a major hotel in Perth, Australia. On the telephone in my room was a small card indicating the phone and fax numbers of the hotel.The phone number was listed as (09)225-1234.Clients around the world intended to call me during my stay, so I gave them the hotel number.Not a single person was able to reach me by phone. One sent e-mail complaining I had given him a wrong number.I called the hotel operator to check the telephone number and told her about the small card in my room.‘Oh,’ she replied, ‘the local code is not (09) anymore, now it’s (08).’‘When did that change?’ I asked.‘About four years ago,’ she replied, ‘but everyone knows abo
A good bank or ISO should provide reliable and trouble-free processing, with responsive customer service whenever you have a problem, all at a fair price. What’s fair depends on the risk level of your business and the terms being offered by competing ISOs. Make sure the merchant bankcard provider you choose fully supports you as a merchant with a variety of services, like check guarantee, acceptance of all major credit cards, debit cards, etc. Also make sure they fully support the equipment or software they sell you. If they don’t, ask them who does and how much extra this costs. Some programs may be appealing, but require hidden costs for assistance.
3. Clearly understand the costs involved. To better grasp the issue of costs, you must understand how credit card sales are processed. Simply stated, when you conduct a charge transaction, you will receive the cost of that sale, less a previously agreed-upon discount (from two to more than five percent), from the bank or service company. The more stable your business is, the lower your discount rate will be.
Fees are a substantial cost: ISOs typically charge fees for minimum activity, if yours doesn’t reach a pre-determined amount; fees for each transaction made, above and beyond the two to five percent discount; and fees for processing customer statements. Another cost is that of equipment. Most merchants today use an electronic draft capture terminal to process sales, which you can lease or purchase. It is more economical to purchase the equipment, but your choices will be limited by the ISO you choose. You might be able to purchase a used terminal from your ISO or buy a new or used terminal from another source. Check with your ISO first!
If you have a personal computer and a modem, there are several software packages currently on the market that perform authorization and draft capture. Make sure that any software you buy is compatible with the system used by your ISO.
4. Caveat emptor. As with any other business decision, carefully consider your options and shop around. Research the requirements, costs and services of bank
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