There’s a reason why those ‘habits of successful people’ listicles are so popular. And why the biographies of successful people become best sellers. We look up to these role models, and we want to learn their secrets. Yes, a lot goes into growing a billion-dollar business. Some of it has to do with background, upbringing, legacy, location, and timing. It’s easy to default to privilege or class wars.
But the truth is – at some point – practically every company was once a small business, from Gates’ and Wozniak’s garage to Warren Buffets eggs and acorns. And by watching these success stories unfold (even if it’s only in retrospect, via articles and biopics), we’re hoping to glean tips and tricks we can apply in our own business endeavors. That said, business faces similar challenges.
One recurring issue in almost every success story is the availability of capital. It can be hard to expand when you don’t have the resources or the funds. Closely related are running costs. Many young businesses make the common mistake of confusing income for profit. They spend before covering their business costs.
The secret ingredient
If there’s one thing that can save your little enterprise and help it get big, its credit card processing. First, if you sign up with the right processor, it fixes your books. Payment processors produce detailed records of transactions, including sales, purchases, income, and transaction charges. You can review cash-flow at a glance, and some merchant processors can even merge your cash, check, and bank-to-bank payments within the same platform.
This isn’t magic. It’s just that these processors accept all those payment modes in addition to cards, and they link your till directly to your bank. This way, you know where your money is at all times. These detailed systems make it easier to track expenses, revenues, and tariffs, so you can keep up with business budgets and stay out of trouble with vendors, landlords, and other creditors.
Even better, you can find a merchant processor with integrated mobile payment apps. Clients can pay you straight from their phones, and you can review, initiate, and verify transactions right on your smartphone. It’s even better than online banking, because you can access your records anytime, anywhere. This can be especially helpful for avoiding problems, because you can spot and resolve refund and/or delivery matters in real-time.
The biggest benefit of credit card processing for your small business is cost. Some merchant processors offer bonus items like free apps, shopping carts, electronic keypads, card programing, and account opening.
For more information on how credit card processing can help your small businesses, or to sign up for a merchant account, please call (888) 924-2743 or go to Charge.com.