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3 Tips to Collect Payments Online – Get Paid Like a Pro

April 17, 2017
By RuthAnn Hogue

Get paid onlineYou know you need a website, but you’re not sure whether you want to take the next step to make it capable of accepting payments online. After all, potential customers can fill out your contact form. Then you can call them back or send an email with a link or any other number of options other than closing the sale by collecting immediately.

Such an arrangement would never fly in a brick-and-mortar store. Intuitively, you know this is not the best option in the virtual world. In an era of instant gratification, businesses need to be able to serve up what’s on the menu before customers leave your store.

True enough, but doesn’t one need a merchant account to take online payments?

The all-in-one option

Let’s say you sell tech-related gadgets such as cell phones, chargers and accessories. They come in various brands, models, colors and sizes. Posting an information-only catalogue detailing what’s trendy and for sale can certainly pique consumer interest, but it can’t provide immediate results. For that, you’ll need to add a payment gateway.

Fortunately, many ready-made online store options are available, including GoDaddy’s Online Store. In addition to providing an online space to promote your gadgets, it will allow you to immediately close the sale by collecting online payment with PayPal and all major credits cards. By using this type of all-in-one eCommerce solution, you get a seamless way to collect payment. The funds you collect are transferred directly into your designated bank account.  (more…)

Small Business Payments Toolkit – A Free, Informative Resource for Small Businesses and their Advisors

April 12, 2017
By Mary Hughes
Senior Payments Consultant, Federal Reserve Bank of Minneapolis

Small Business Payments Toolkit

The Business Payments Coalition recently released the third version of its Small Business Payments Toolkit. The Toolkit provides education about payments and encourages the adoption of electronic business-to-business (B2B) payments by small businesses.

Visit this link to download this free resource:
https://fedpaymentsimprovement.org/wp-content/uploads/small-business-toolkit.pdf

Breaking Up (with Checks) is Hard to Do!

Checks are the main way many small businesses make B2B payments. Checks are popular because you don’t need to know the account information of the person or business you want to pay. However, the Toolkit points out that small businesses should try to reduce their reliance on checks because they are expensive, labor-intensive and expose a small business to fraud.  (more…)

Mapping Their Way to Business Success

April 10, 2017
Success Story: Colorado

North Line GISNorth Line GIS was founded by Mike George and Trip McLaughlin, after seeing a need for a GIS business to service the needs of the local community as well as the western slope of Colorado. Both Mike and Trip were employed full-time by others at the time of the start-up, so they were able to start the company with personal funds while building the business.

Although both founders have extensive experience as geographers, they needed assistance with ideas for managing and growing the business. After researching available resources, they contacted the SBDC to help them strategize about growing the company. (more…)

Veteran Turns to Entrepreneurship as Retirement Approaches

April 3, 2017
Success Story: Vermont

Veteran turns to entrepreneurshipAs our nation’s military fighting men and women finish their tours overseas or approach retirement from a career defending our country, many are now turning to entrepreneurship as a way to bridge the gap to full-fledged retirement. Kristine and Chad Jenkins, owners of Georgia Self Storage LLC in Georgia, Vermont are a fine example.

Chad recently began approaching his retirement from the military after many years in uniform, and knew he was ready for a new challenge. The recently opened rental storage facility located not far from Interstate 89 Exit 18 at 198 Morse Drive was the answer.

“We are veteran-owned, and family-run,” Chad said. We provide safe and secure storage options. We have 24-hour gated access and many different sized units,” he said.

But before he could get the storage facility up and running, Chad knew he needed some assistance and began researching online for what resources are available to Vermont entrepreneurs. He soon came across Vermont Small Business Development Center (VtSBDC) Area Advisor Steve Densham.  (more…)

The Free Resource Your Business Is Overlooking

March 28, 2017
By Gerri Detweiler
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Free ResourceAmy Cantin and Larinda Rainwater had been travel agents for over 20 years. They loved helping their clients and were successful, but were finding themselves increasingly dissatisfied with their jobs at the travel agency where they were both employed. They knew the logical next step would be to open their own travel agency, but that prospect was intimidating.

“We knew how to sell travel but we didn’t know how to run a business,” says Cantin, echoing a common dilemma many would-be entrepreneurs face. “It was scary,” Rainwater adds.

Fortunately, a friend referred them to the Arkansas Small Business and Technology Development Center, where, for nearly a year, they worked with business consultant Robert Bahn to develop a plan for their business and prepare to go out on their own. They also hired an attorney who, among other things, made sure they didn’t take any client information with them, which could open them to legal action by their former employer.  (more…)