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Easy Money Saving Tips for Merchant Processing!

April 18, 2013

The first thing you should know is that there are a series of what are called interchange levels which affect the cost of a charge at every stage, depending on a number of factors—including the type of card presented, specific information contained in the transaction and how/when the transaction is processed.

Here are tips on how you can prevent being assessed higher processing fees: 

1. Swipe the card, key-entered transactions are charged higher rates

2. Obtain a valid authorization from the terminal/register

3. Provide all original electronic authorization information at the time of settlement

4. Settle transactions daily (more…)

Tips For Financing Your Business

April 17, 2013

Tips and strategies for business financing as we move forward in the 2013 economy.

Q: What skills will entrepreneurs need to make the most of the credit environment?

Many more businesses are learning the value of expanding into the world market, but lenders need a higher comfort level to help them with these plans. Entrepreneurs have to be visionaries who are able to clearly project future revenue streams, understand what infrastructure is necessary to support those streams and how to develop it, and what the net results of putting that structure into place will be.

Then, they need to be able to communicate that clearly with strongly supported assumptions to their lender. The business owner capable of doing that will continue to grow no matter what the economy at large may do. (more…)

How To Shorten The Sales Cycle

April 17, 2013

Definition: Closing the business as quickly as possible after 1st initial contact.

Whether you’re a hunter sales rep, a farmer sales rep, inside sales or outside sales, having the ability to control and at times shorten the sales process is a powerful tool to have in your arsenal. Throughout my sales career, the most common obstacles and stalls that lengthen the sales process have been: “Send me a proposal…. Call me tomorrow/next week/next month…. I need to think about this more…. I really don’t have the time to do all of this right now…. I need to check on my other options…. I need to check with my partner”

There are 5 areas to focus on that will help your control and shorten your sales process. Those areas are:

(1) Your confidence and mindset
(2) Attempt to close business on the spot
(3) Setting clear next steps
(4) Creating urgency and,
(5) Asking the tough questions. (more…)

Franchising: Franchise Disclosure Documents

April 11, 2013

With over 3,000 choices of franchise concepts in the marketplace today, your options for owning your own business are limitless. But not all franchises are created equally. So, how will you be able to gain the necessary piece of mind that the opportunity you intend to pursue is legitimate?

Say hello to the Franchise Disclosure Document, or FDD for short. Quite simply, it’s a legal document mandated by the Federal Trade Commission (FTC) designed to assist the potential franchisee through the due diligence process. The FDD offers incredible access and insight into a franchise and its operations. Every legitimate franchise must produce one. If a company doesn’t, remove yourself from discussions as quickly as possible. At its core, the FDD removes any emotion from the process. It’s required to be presented to you and once it’s been produced, spend careful and considerable time reviewing it.

Under FTC guidelines, the FDD must be presented to the potential buyer in the pre-sales process no less than 10-14 days prior to entering a contract or paying any amount of money for a franchise. And as you’ll see, it may be the single most important document you’ll review during the entire procedure. (more…)

Traditional Crowdfunding Can Help Vets Start Businesses

April 11, 2013
Veteran crowdfunds for franchise, hires six employees 

Many veterans come home to a persistent high unemployment rate and a mountain of debt. They’re not welcomed by banks for small business loans because of their bad credit, their lack of assets and at the beginning, no cash flow. However, certain franchises are inexpensive to get into, and finding the kind of money that veteran Larry Colley needed to acquire an air conditioning service business can be relatively easy via crowdfunding.

Through the veteran themed crowdfund platform Sprigster, Colley found $4000, and soon after hired six people. This is surely one of the best ROI for jobs on record.

For determined veterans seeking to start a small business in a local setting, the help of friends, neighbors, veterans groups and eager consumers can quickly turn a well conceived dream into reality, with a built-in fan base. (more…)