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Should I Worry About Signing A Contract With A Non-Compete Clause?

May 8, 2013

Whether you’re an employee of a company or a business owner finalizing a partnership deal with another company, the non-compete clause is often included in the final contract. Should you be very worried and hesitant in signing a contract with a non-complete clause in it?

The non-compete clause

The textbook definition of a non-compete clause is that it is a form of restrictive covenant that adds limitations to the employment or sale contract. These agreements protect the business by restricting the other party from performing similar work for a specific period of time within a certain geographical area. It’s important to note that the courts do not always uphold them. In fact, the courts evaluate non-compete clause for their reasonableness to determine whether they constitute an unfair restraint on trade. (more…)

How Much Should Business Owners Take As A Salary?

May 8, 2013

Business owners are compensated with equity in the company, but they still need a salary to live on. Setting a salary can be tricky as you’ll want to be compensated for your work, while also not taking away from the future growth of the company. How should you set your salary?

Setting your salary

There are a few different ways to determine the appropriate salary for the business owner. The first and most important method is based on company specific financials. If you’re boot-strapping your business, then you’ll need to determine how much net income is available or cash on the balance sheet. Then, you’ll need to identify the amount of your personal monthly expenses. If the cash flow on your balance sheet and expected monthly cash flow exceed your monthly personal expenses, then you can at least pay yourself some sort of a salary. Still, how much should you be paid in salary? (more…)

PCI Compliance Importance of Staying Compliant

May 8, 2013

The security of cardholder information is important to both your customers and your business. In fact, since 2005, there have more than 1 billion stolen records in over 2,000 separate data breach incidents – with payment card data being the theft target in 48 percent of all breaches in 2011 alone.1 And yet, only 4 percent of all breached organizations were PCI compliant at the time of their data breach.2,3

What Is PCI DSS?

The Payment Card Industry Data Security Standard (PCI DSS) was created by the major credit card companies as a guideline to help business owners implement the necessary hardware, software and other procedures to guard sensitive credit card and personal information.

The object of becoming compliant with PCI security standards is to help protect sensitive cardholder data from data thieves who are shifting their sights to small merchants because they think they are easier targets. If your business fails to become PCI compliant,3 you could be putting your business at greater risk from the growing threat of payment card data breaches and theft, which may result in substantial penalties (such as fines from banks, regulatory agencies, and card organizations), fraud and charge backs, as well as legal costs and lost customers. (more…)

Preventing Chargebacks 16 Tips to Avoid Potential Chargebacks

May 1, 2013

Most chargeback situations arise at the point of transaction—at the time the transaction is completed—and most can be prevented with a little training.

Consider these 16 tips to avoid potential chargebacks.

1. Do not complete a transaction if the authorization request was declined. Do not repeat the authorization request after receiving a decline.

2. If you receive a “Call” message in response to an authorization request, call your authorization center. Be prepared to answer questions. The operator may ask to speak with the cardholder. If approved, write the authorization code on the sales receipt. If declined, ask the cardholder for another Visa card.

3. If an embossed Visa card is presented for payment, make an imprint for all card-present transactions. If you have a point-of-sale terminal with a magnetic-stripe reader, swipe the card through the reader for every face-to-face transaction. (more…)

How to Create Subject Lines that Get Emails Opened

April 29, 2013

With all the work that goes in to creating the perfect email, it’s hard to believe that the effectiveness of your campaign can often come down to a few words in an email subject line. A study conducted by Chadwick Martin Bailey and Constant Contact found that 47% of consumers make their decision about whether or not to open emails from business or nonprofits based on the content of the subject line.

That’s nearly half of your customers, clients, supporters, or volunteers who will choose to either open or trash your email based on the subject line alone. It’s a challenge facing all businesses and organizations, but it isn’t one you need to tackle alone. Here are 5 tips to help you create subject lines that get your emails opened.

Keep it short.

When it comes to your subject line, you have only a few seconds to capture their attention. It’s no surprise then that subject lines with less than 50 characters have open rates 12.5% higher than those with 50 or more, and click-through rates are 75% higher. Keep in mind the typical inbox preview pane will only show 30 to 40 characters (the typical mobile device shows around 15 characters). If possible, shoot for 25 to 40 characters or 5 to 8 words. (more…)