If your business still does not have a merchant account that allows you to offer full credit card services, you are turning your back on profits. Just take a look at all of your competitors. All of those that pose serious competition accept credit card payments. Those that do not have credit card services do not have great sales figures to show, either. Even statistics point to the fact that companies that have credit card services earn much more than companies that do not have credit card services. The average credit card sale is $40 while the average cash sale is only $9. That means you are losing potentially $31 per sale.

You may also be spending more by accepting only cash and check payments in your business. The processing of cash and checks has been found to be more costly, requiring more manpower in handling. Studies have shown that the average processing cost of credit card payments is only 2.7% of a transaction while the average processing cost of checks is 4% of a transaction and the average processing cost of cash is 4.8% of a transaction. Once again, you are leaking profits by refusing to accept credit card payments.

So how do you accept credit card payments in your business? This is where credit card services come in. The old route is to apply for a merchant account in a bank. You will then have to lease the software and equipment necessary to actually process payments and send the data to your account. If you want to accept credit card payments online, you need to apply to a payment gateway that allows real time credit card authorization for online transactions. You should ensure that your payment gateway is compatible with the bank or financial institution where you have your merchant account, and with the software and equipment you have leased.

In choosing the bank or financial institution for your merchant account, consider their expertise in combating fraud and reducing chargebacks. Also make sure that they are experienced in handling merchant accounts with online transactions.

If you are a small business owner, stick to a bank or financial institution that caters to small businesses rather than large companies. You may be able to get better rates and packages designed for your specific niche.

There are options for credit card services that offer everything you need in one easy package. You will not have to deal with various entities or go through various procedures. Often, these options also have added benefits, among them, quick reporting on your credit card sales figures. They may also offer interest on your credit card sales income, even up to money market rates.

One very important feature of your credit card services that you may not know of is that it can automatically qualify you to avail of small business loans. Once you have established a record of sales through credit, most credit card services will allow you to make cash advances that are practically like getting previously approved small business loans without having to put up any required collateral. The credit card services consider your future income through credit card sales as your collateral. This can go a long way in further growing your business.

Payment will not be a problem, either. For as long as you have sales through credit payments, you automatically get to pay your small business loans. It does not matter how much your sales are. Your payments are automatically deducted as a percentage of your sales. You are always covered.

Now do you still need further convincing on the benefits of credit card services for your business?

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It’s surprising that a lot of business owners have never had proper branding done for their businesses. Starting with their company name. Many simply name their companies after themselves (ex. John’s Accounting Service, THM Enterprises, etc.) or just a name that they pull out of the air. What’s in a name? A rose by any other name would smell just as sweet. Right?…Wrong! Not if we called it a stinkweed! 

Your company name is everything. It’s a crucial part of your marketing and your brand. At the mere mention of your business’s name, clients and prospective clients should experience an emotional reaction. Your business name serves as an emotional anchor for your brand. So it should not be taken lightly. It’s ideal if your company name tells people what you do. Unlike the home improvement company that we came across named XRM Technologies. They actually install gutters, windows and vinyl siding believe it or not. 

So how do you come up with the right name for your company? For our clients, we use an exercise that we call the ‘name game’. Here’s how you “play it”. On a piece of paper, draw a line down the middle of the page, dividing the page into two columns. On the left side of the page, write down all of the problems or “pain points” that your prospect feels. I mean everything (ex. They have bad credit, can’t get credit cards, can’t get loans, have to pay higher interest rates, can’t get a mortgage or car loan, have to pay cash for everything, are embarrassed by their bad credit, etc.). Be very thorough and leave nothing out. 

Next, on the right side of the page, write all of the solutions to the problems and “pain points”. For example: problem – they have bad credit; solution– raise their credit score to a good score; problem – they are embarrassed by their bad credit; solution – instill in them a sense of pride from having an improved credit score. After you finish listing all of the solutions to the problems, look at all of your solution words and phrases and then piece them together to come up different names for your business. 

So, a real estate management company could be ‘Worry Free Property Management”. A florist could be ‘Last Minute Florists’. A dentist could be ‘Your Beautiful Smile Dental’. An insurance agency could be ‘Peace Of Mind Financial Services’. A fitness center could be “New You Fitness’. A green janitorial company could be ‘Clean, Quick & Green Janitorial’. A home improvement company could be ‘24 Hour Windows & Doors’. You get the idea. From your list, choose 6 – 10 of your best choices. Write them down on a piece of paper in column formation. 

Lastly, you want to do some surveys. Go to the local mall, bookstore or whatever place your industry prospects gather (the business district at lunchtime, supermarkets, seminars, hardware stores, hospitals, etc.) and get their input on your name selections. Perform at least 10 – 20 surveys. Tell them what you want your prospective customers to feel and think when they hear your company name (ex. trust your company, be relaxed, be excited, laugh, want to make money, become hungry, want to eat healthily, etc.). Ask them to listen to your choices and rank them each from 1 to 10 (1 being the worst and 10 being the best). Lastly, ask them if they didn’t like your name selections, are there any names that they’d recommend. This is powerful because your actual market tells you the name that appeals to them the most. 

The outcome of the ‘name game’ is a business name that appeals directly to your market. You effectively eliminate the possibility of having a non-compelling name that simply sounds catchy or flashy. Instead, you get a name that when your prospective and existing clients speak it, it instantly solves their problems.

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If you are a stay at home dad, and are trying to find the best ways to manage your time with a busy schedule, or if you are working and need to find the time to take care of your kids and balance a heavy load of work each day, you are also probably looking for advice to manage your time the best. There are tips and advice available online for you to use to learn how to manage the time you need to spend at work, or at home, with your kids and still manage to find time for yourself.

Many busy dads, who are full time guardians for their children, need to try to find the balance for work and time with their kids. It is not always easy to find time to get to all the kids activities and do all of the work. If you are looking for some of the best tips to help you get start managing your time the best and have the time that you need to spend with your kids, check out busydaddy.com. This web site is a great place for busy dads to get some great advice on managing time. There are other dads who offer tips and ideas on what has worked for them in managing their own time, and you can read what others have to say.

You can learn how to make the most out of your work schedule, time off and busy days to get in all of the activities that you want to do with your kids. This web site is great if you are a dad who works outside of the home, or if you are a dad that stays at home with your kids. You can find a lot of great information that will help you learn the skills to manage your time and get a chance to be a part of all of the activities that your kids are a part of. When you are needing help to organize your time and schedule and want to get the most time in with your kids as you can, while still having some time for yourself, check out the web site and learn effective ways that you can manage your time.

When you learn how to save time with planning ahead for activities, meals and other schedules for your kids, you can learn how to enjoy the time that you spend with your kids and with work. You can find ways to manage your time and enjoy all of the things that you enjoy doing with your children by going online and learning tools to help you get organized.

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Darin Persinger of www.productivityjunkies.com talks with Ian Watt about what the future of business development looks like for a real estate agent.

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