Thank you for taking time out to read my latest Blog Post.
This blog post forms part of a of a sequence on Starting A Business which I shall be running over the next couple of days.
Please bookmark or feel free to share if you find it useful.
If you missed any of my previous blog posts you can read them at starting-your-business
One thing a lot of business owners overlook is how they will be paid for their products or services. Some think that taking cash and checks is sufficient, but these days people want multiple ways to pay. In fact, many people don’t even carry cash or a cheque book anymore. They may have a few bucks tucked away for ending machines or bus fare, but generally they prefer to pay using credit or debit cards or other methods.
If you’re opening a brick-and-mortar business such as a restaurant or store, you’ll definitely need to take credit and debit cards as a payment method. But even if you’re performing a service or selling online, you’ll need a way to take alternative methods of payment. Even flea market vendors and farmer’s markets are starting to take credit cards!
If you have an android smart phone or a device such as an I-pad or I-Phone, you can use one of the simple card reader billing systems such as Square up. These small readers insert into the headphone jack of your device and allow you to take credit card payments instantly, no matter where you are, as long as you have an internet connection.
You should investigate each company’s operating platforms (such as iOS and Android), their fees, and their terms of service to see which one is the best match for your business. Most of the actual card readers are free or cost $10 or less, but you must pay small processing fees that generally vary between companies.
Additionally, Square has a stand for the iPad that will turn your iPad into an actual point of sale machine, allowing you to use in brick-and-mortar businesses like stores and restaurants. The stand is $99.
If you are doing business solely online, you’ll probably want to use a regular payment processor. The most popular one is PayPal, but there are a few others you could consider if you happen to not like PayPal for whatever reason.
Starting a business requires a lot of careful thought, planning and preparation. If you get started without taking all of these things into consideration, you will likely find the road to profitability a long, bumpy one, if you manage to make it to your destination at all.
If you are averse to risk, you have trouble motivating yourself, or you’re not a very organized person, you may want to reconsider opening your own business, at least until you work on these traits.
But if you’re ready and willing to work hard, you’ve got the drive and determination, and you’ve successfully completed the steps outlined in these Blog posts, you will be well on your way to starting your own profitable business in any field you choose.
Just be sure you follow these steps carefully, especially when it comes to taxes and legal issues such as licensing and zoning. The last thing you want is legal trouble for your new business, as it could close your company before it’s even started!
Good luck with your new business!
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