Category Archives: Business Tips

Best way to end a business partnership

Breaking a business partnership is hard as it involves additional complications that are financial. However, if you are looking for a few tips to salvage your relationship and still save money, here are a few pointers that will help you end a partnership smoothly.

Start off by looking at your partnership agreement and how it is worded. You may also want to get some help from an attorney who will look into the specifics. In some cases, you may be moving out of the partnership, but your partner(s) may continue to operate the business.

Pierre Zarokian, CEO of SEO company Submit Express, recommends “If you don’t have a partnership agreement, closing your business may take a lot longer and be more costly. In these instances, partners will have to work together to find common ground to dissolve the partnership. I good option in these instances is to hire a neutral mediator who will help all parties to reach an agreement.

The type of partnership will also play a role in how fast and how expensive ending a partnership will be. If your partner has a majority controlling share, the partnership may fail if the other partners cannot do a buyout. However, if only one partner remains in the business, an attorney will have to change the legal status of the business.

I another good option could be to sell the partnership. However, the partner leaving will have to be bought out before the sale.

 

Stay Focused on Your Goals with these 5 tips

Stay Focused on Your GoalsArticle by iclimber.com

Life as a business person isn’t simple, however when you first got into it you ought to have comprehended that it wouldn’t be simple. A business visionary must stay concentrated on the comprehensive view and the objectives set in front of them, notwithstanding when times are troublesome. What are a few approaches to stay concentrated on these objectives?

1. Be Completely Honest About the Situation-Don’t kid yourself about your present circumstance, yet rather be totally fair about where you at and where you need to go. Improving things appear than they are won’t help; rather they will just make you get lethargic.

2. Stay enthusiastic Passion is indispensably imperative to an effective business person. You need to need to be effective gravely with a specific end goal to make it. Understand that your enthusiasm for what you do is a standout amongst the most critical approaches to emerge from whatever remains of the pack.

3. Consider yourself responsible Keep a nearby reputation on how you are getting along with your objectives. Doing something, for example, having an exceed expectations spreadsheet following your outcomes will help you stay responsible and stay spurred. Make it a typical procedure to keep an eye on how you are getting along.

4. Be Specific-Making beyond any doubt that your objectives are concrete and as particular as could be expected under the circumstances will help you have the capacity to look forward. Case in point, as opposed to just expressing you need to expand your deals by a lot, set a particular sum and endeavor to achieve that sum.

5. Keep a long haul viewpoint There are continually going to be mishaps, yet recall to keep a long haul attitude toward your objectives. Remember the 10,000 foot view at all times and it will help you keep your concentrate notwithstanding amid unpleasant times.

Staying concentrated on your objectives can be troublesome, however to be a fruitful business person you must do it!

Article was submitted by iClimber. They provide social media marketing services. They can increase instagram followers and twitter followers.

5 Ways to Become a Better Business Leader

Entrepreneurs need to wear many hats and take on a wide range of responsibilities. Being a good leader is a vital skill that will help a business owner to guide his/her employees in the right direction to achieve business success. Here are five ways to become a better business leader.

Work with your team – Although most business owners will work with their team it is important that business owners sometimes work in each area of the business and take on a hands-on approach. Working on social media, content or answering customer queries will help an entrepreneur understand their business and its shortcomings.

Dr. Jan Zemplenyi, a plastic surgeon from Washington, recommends: “Be humble – Although your achievements are important to you, they may not be important to everyone else. Instead, admit to your employees when you have made a mistake and look at ways to rectify it without sweeping it under the rug.”

Understand that no one is perfect – Although pushing people to reach their full potential is important, remember that no one is perfect and people will make mistakes. When someone makes a mistake, be patient and focus on finding a solution together.

Inspire people – You want people to follow your footsteps because they believe in you and what you are trying to achieve. Make sure that you focus on the company’s mission and strive to be a well-rounded leader who inspires others.

Keep learning – Learning is a great way to stay current and to encourage new ideas that will help your business grow. Always look at new ways to learn new things that will benefit your employees and your business.

 

6 tips for good business management

Any size company can take advantage of good business practices. Here are 6 tips in relation to business management that will strengthen your business and help it evolve. We spoke to Ted Dhanik, who is an entrepreneur and CEO of Engage:BDR, a digital marketing company specializing in display and video advertising. He provided us some good advice below.

“Know-how is not enough – It is not enough to just be an expert in your field. This will not guarantee you sales or customers. Instead, it is important to include marketing and administration skills into the mix. Make sure your customers know what your business can offer them. Apart from this, to run an efficient business that makes profits, you will need financial experts to understand the financial aspects of your business.

Hire the right people – It is important to hire the right people that match your industry and what you want to offer. Include good recruiting practices into the mix and you will be sure that your hires will be coming back and referring many others.

Don’t hire your friends – Hiring friends can compromise and destroy a friendship and cause problems for your business. If you must hire a friend, ensure that you have clearly communicated what is expected of them and what you can offer in return.

Don’t make snap decisions. – Sometimes small businesses will face hang-ups, but know that this is a rare occurrence. Instead of making snap decisions, think about the implications your decision will bring on your staff and business.

Hiring/promoting from within isn’t always good.- Hiring from within is a good policy but it should be limited to staff that has the personality and the skill set necessary for the role.”

For more info about Ted Dhanik, visit his Facebook page.

Digital Wallet Benefits for Merchants

Article written by Pierre Zarokian.

There’s a lot of news floating around about how important digital wallets will be for consumers, but the part no one talks about is how they’ll affect merchants. For the most part, merchants do what the market dictates, but these big changes in store maybe aren’t so bad. Here’s a look at the benefits merchants will see when they make the switch to accept digital wallets.

Customer Loyalty

Right now, brands need to work hard to push customer loyalty programs with physical cards the customer has to keep. Larger retailers have more options, but the mom and pop shops can only mimic the idea. With digital wallets, it will become easier to get customers into your loyalty program, distribute coupons to them and get them back into your store. Enticing deals can now go directly to your best shoppers.

Faster and Safer Checkout

Everyone loves a faster checkout, but you’ll appreciate speed, efficiency and security all at once. Using special encryption, these wallets can control the data sent to and from banks as the customer completes the transaction. Everything is anonymous, and no information is held. That means once the transaction is done, a receipt can be emailed to the customer and all payment information disappears.

Optimized Shopping

Customers will eventually have more tools to query your shop. In the future, they may be able to check the items you have in stock, or look at wait times in store to figure out when the best time to arrive is for their schedule.


This Article was written and submitted by Pierre Zarokian. Read a recent press about Pierre Zarokian here.

Tips to Help Make Your Small Business Credit Card Processing More Affordable

Small business credit card processing is a necessary challenge to overcome. You need to be able to process payments, and some of the advanced features can be useful to the right business, but they do tend to take away from your bottom line profits. If you’re looking for an opportunity to save on some of those costs, these tips should be able to help you without putting too much of that burden on your customers.

Dr. Sid Solomon, a cosmetic dental specialist, advices:  “When we were initially looking for a merchant account provider, we did not know much about it. We talked to several providers and picked one with the lowest rate, so definitely shop around.”

Pay Attention to the Contract

Before you ever sign up for a merchant account, you should be aware of how transactions are processed and which methods offer the lowest rates. With an interchange plus account, the credit card swipe machine will usually offer a lower rate to you than keying in your account number. This is because the processing companies, or payment gateways, have to take extra precautions handling this information. Since you’re keying in the full card number, thieves can intercept that information over the Internet.

That extra security ends up costing you more per transaction, which is why swiping a card through the credit card machine is the best method for processing a payment.

Be aware of those kinds of contract speed bumps. Make sure you’re not signing onto any volume discounts you can’t meet, and make sure you take the time to understand the rate structure for the transactions you’ll process. It will help you more accurately forecast your costs moving forward.

Set a Minimum

One method to ensure you’ll be able to cover the costs of a transaction without raising prices on your customers is to set a minimum for credit card transactions. Most businesses set this limit fairly low, at $10, but that minimum may have to be higher if you’re a big ticket retailer. That’s because interchange  rates are based on percentages.

In the best case scenario, your customer meets that threshold and your transaction is worth the cost. Another way of looking at it, is the customer will pay cash for an item worth less than the minimum. If not, you’ll lose money just processing the sale. Most customers understand this today, but a few may raise some objections. Kindly explain the costs of processing plastic, and remind them that respecting your rule is helping an American small business grow. You’re always going to lose grumpy customers, but as long as clearly place signs indicating your minimum charges, you’ll find most people are agreeable to your terms.

How Social Media Affects Reputation

Social-MediaArticle provided by Fix Bad Reputation

Social media is more than just the dumping ground for your thoughts. It’s an engaging tool you can use to connect with fans far outside of your local area. There are more opportunities to gather feedback, and find sales opportunities, than ever before. In order to tap into those streams, you need to have a handle on your brand’s online presence. Here are tips to help you root out the gold and keep your reputation intact.

Build a Community

Building a community means more than just getting fans to like your page, so think beyond the like and get people to communicate with one another on your business page. Asking questions about your products or requesting reviews can help get you started. Consider expanding into industry related content. Write your own blog posts based on customer feedback, and promote those ideas through social channels.

Keep track of how often your messages are shared, and be sure to respond to comments.

Develop a Voice

Authenticity is huge for brands, and it’s easy to miss the mark if you’re not careful. Take time to develop a voice for the brand, and relate your social media efforts back to your company mission statement. Use blogs to support that voice through informative content that resonates with your audience. Also, consider promoting your social-entrepreneurial side. If you’re involved with charities or sponsoring kid’s sports teams, post updates related to their progress.

Consider Goals

Ideally, your customer doesn’t just like your page. He may use you as an informational database, or your site may be the first place he looks before buying. Zero in on what makes your content unique, and drive your customers toward those goals.

Article by Fix Bad Reputation. They provide reputation management services such as thedirty post removal, reportmyex post removal, Complaints Board Removal and more.

Avoid High Risk Status and Accept Credit Cards Online for Less

high-risk-credit-cardsArticle by Credit Card Processing Blog.

Learn more about how to avoid high risk status for your merchant account.

A high risk merchant account can be a costly proposition. High risk accounts signify that your business presents an above-average risk of return for the payment processor. You might be honest, but years of failed and dishonest businesses have created a system for assessing risk that may not agree with you. In this guide, we look at methods you can use to accept credit cards for less money.

Fixing High Risk Status

The first step in paying less to accept credit cards online is to try and fix your high risk status. Usually, it’s an issue with credit or payments. If your payment history is off on bills, for instance, that can hurt your business credit rating. Length of time the business has been open can present an additional hurdle, as new businesses are often viewed with an eye of skepticism.

Talk with your credit card processing company, and find out what the problem is. Once you understand their viewpoint, you can take steps to resolve the issue. You might even try negotiating, which works especially well if you’re bringing high volume sales to the payment processor. They may be able to lower their rates and still make a profit.

Final Thoughts

If you’re assessed as a high risk, it’s not the end of your business. It usually means you will pay higher fees than someone who is not high risk, however. Shop around. Just because you’re high risk doesn’t mean you should settle for the first account that comes your way.

Read more Merchant Account related articles at http://www.creditcardprocessingblog.org/.

The Pros of Accepting Credit Cards, as a Business Owner

Article provided by Credit Card Processing News.

Summary: As a business owner, it would be wise to allow customers to pay with debit and credit cards. Some of the benefits have been explained below.

If you are a business owner who does not accept credit cards, you should strongly reconsider. There are many advantages to allowing customers to use their cards, including the ones outlined below.

Fewer People Carry Cash

Nowadays, fewer people carry cash on them. Credit cards and mobile wallets have made it significantly easier to always have a form of payment with you at all times. Using cash requires people to carry multiple bills with them, and if they end up making a purchase somewhere, there is a good chance they will ultimately have change, in the form of coins, somewhere in their pockets or bags.

As a business owner you want to make it as easy as possible for whoever walks through your door to make a purchase, right then and there. If a customer wanted to purchase a good or service from your business, only to find out that they would have to step out to look for an ATM, he or she likely would reconsider the purchase. Look into a merchant service provider to add that level of convenience to your business.

Customers Will Spend More

Another reason why you should accept credit cards is that customers will spend more. Not actually seeing the money that will be spent could result in more impulse purchases. A recent study showed that, on average, customers who pay with their credit or debit cards spend 12 – 18% more than those who pay with cash. This could be because customers do not actually have to count their money out.

Easier to Prevent Stealing

An additional advantage of accepting credit cards at your business is that it makes it more difficult for employees to steal. Although it is unfortunate, stealing takes place around the world. By using a card terminal, the money received from transactions will get deposited automatically.

For more articles about merchant processing visit http://www.creditcardprocessingnews.org/

Just How Safe are Digital Wallets? We Find Out

Digital wallets show a lot of promise, but there are still some small concerns that prevent the public from fully embracing this new technology. Some of these concerns are overhyped by the media, but many come down to a lack of understanding. In this article, we’ll look at some of the common questions regarding consumer safety and see how digital wallets overcome those challenges.

Open Doors

The first thing to straighten out is that a digital wallet isn’t very easy for outside parties to gain access to. Nothing is completely immune to hacking, but there are some important precautions taken when using a digital wallet.

For one, retailers never have access to an account number. Everything is “tokenized”, which is another way of saying that it all takes place within a single session. Because each transaction number is unique, with no account data attached to it, thieves can’t snatch all of the data tied to your account. Without that data, they won’t be able to easily gain access.

Access

The entire key to security really lies in your mobile device. Password or fingerprint protecting your device will help stop thieves from entering a device they have access to. Keeping your phone on your person at all times is the safest method you have to protect your account, but password protection is also a must.

If you misplace or lose the phone, you’ve got one final option. You can reset your account remotely by logging into the app from your desktop.

How to Solidify a Business Agreement Properly

Article submitted by Barry K Rothman.

An enforceable business contract plays an integral role in defining your business. Follow these tips to see why.

Document the Agreement

Although a simple handshake and promise might be binding in many situations, know that if somehow you were to end up in court, there’s no way to enforce any part of it. Even if the law does not require it, always be sure to document every agreement that you make with a client. It’s generally less risky than an oral agreement because you’ll have a written consensus that spells out each party’s rights and obligations in the case of a disagreement.

“Short and Sweet”

Rather than focusing on creating a complex document, keep it short and sweet. Contrary to what most lawyers say, you don’t need a stuffed, legal-laden contract to make it enforceable. Instead, keep it simple with numbered paragraph headings that tell the reader what’s in the paragraph. Just because you’re simplifying the contract, doesn’t mean you’re skimping out on any details.

Speak to an Authoritative Figure

Just like you’d want your clients to deal with you as opposed to a junior at your business, you’ll want the exact same thing during the negotiation process. During a business agreement, politely request to be in touch with the individual in charge. This is important because he or she must have the authority to bind the business and perform its obligations under the agreement. By playing “telephone” with another company, you’ll only make things more difficult in the future if issues were to arise.

Article submitted by Barry K Rothman. For all your business and entertainment legal needs, visit Barry K. Rothman today. Take one look at the many positive Barry K. Rothman reviews online and you’ll see why he and his firm have taken the legal field over by storm.

5 Small Business Ideas To Make Money Online

The internet has totally pervaded our modern lifestyle and has become a major influence in the daily running of our lives. This is increasingly apparent when it comes to online commerce, with the internet contributing to over $2.2 trillion in annual retail sales alone. With such a powerful tool at your disposal, you’d expect that making money online should be a walk in the park; there’s nothing further from the truth. Unlike what the get rich schemes you find online want you to believe, finding and implementing an authentic business idea is not easy. So many people are trying to avoid the dreaded office set-up by finding work online so you’re guaranteed to have enormous competition. Additionally, navigating and finding reputable sources of adequate income without falling prey to pyramid schemes and other marketing scams is no mean feat.

What’s a small business idea?

A small business idea requires relatively little in the way of capital to get started and therefore much easier to implement.

However, as with all good things, you need to work for it. While it’s possible to make adequate quick cash in the short term, most small business ideas need requires a lot of effort and building a strong reputation over time for success. Here are some ideas that could work for you.

  1. Sell private label products online

Private labelling is one of the most lucrative small business ideas you can invest in. A private labelled product is a product that you can acquire by a contract or a third-party manufacturer then resell under your own brand. Here’s how it works, you get a product from a manufacturer then alter it according to your own specifications to create your own brand. It’s a great time to get into the private labelling arena as more and more people are opening up to the idea of using such products. The fact that more than 80% of customers believe that private label products are equally as good or even better that their national brand counterparts.

You can sell products that are actually of the same quality as leading national brands, without spending hundreds of thousands of dollars. To start off, check out the five steps about how to sell private labels that customer will want to buy by Patrick Foster. Once you have a product idea in mind, find suitable private label manufacturers to make your product after which you can apply any necessary tweaks and labelling to create your final brand. There are various online commerce platforms you can use to sell your product but Amazon definitely stands out due to its FBA (Fulfillment by Amazon) program. As long as you do it right, private labelling is guaranteed to rake in a lot of money.

  1. Create a blog.

Practically everyone has thought about writing a blog to make money. Those who’ve actually tried know it’s not as easy as some popular bloggers make it seem. Even though blogging requires little or no capital, building a successful blog needs persistence, discipline and patience. It isn’t a quick fix, you could literally write every day for months before seeing any sort of returns.

First, focus on getting a lot of web traffic by consistently posting high quality content. Once you have enough traffic on your blog, you can start to monetize it in a number of ways. You could sign up with a company like Google Adsense and start advertising on your blog. Alternatively, you could publish sponsored posts about products or services on behalf of a company. Other ways include setting up membership and subscription fees or working with an affiliate network. You’ll find that blogging is a small business idea that’s difficult to start out but will effortlessly earn you money once it gains momentum.

  1. Sell your professional services online

Another small business idea you could consider is providing services such as freelance writing, programming or graphic design, for a price. If you are particularly gifted at a certain field, don’t hesitate to sell your services through sites like Upwork, Fiverr, Listverse and many more. Small business ideas such as this require practically no capital, unfortunately, starting out can be pretty difficult and time consuming. These platforms are all highly competitive so finding clients won’t be easy till you get a good track record and accumulate numerous positive reviews. You could have a successful freelancer show you the ropes and help you figure out what to do to succeed faster. Alternatively, you could try to find the most successful people in your particular kind of work and see how they do things, from their online profile to their approach. Doing this can give you much needed inspiration.

  1. Create an app

The number of people using smartphones is simply staggering. In fact, according to Techcrunch, there will be a whopping 6.1 billion smartphone users globally by 2020. With that many users, the demand for new and innovative smartphone apps is ever on the rise, making apps a business opportunity ripe for the picking. However, unlike many other small business ideas, creating an app requires a fair bit of technical knowhow to accomplish. Lacking such skills isn’t an excuse to give up; you can always hire someone else to do it for you as long as you have a good idea for an app. The good thing about creating apps is that you don’t really need a huge capital base while starting out and unlike physical goods, you don’t have to worry about storage or transportation costs. Take your time and do proper market research and analytics to find an app that will sell then you can sit back and watch your app earn you loads of money.

  1. Become a virtual assistant

Virtual assistant perform the jobs that any assistant or secretary would do for small businesses that are reluctant to hire an in-house employee. Such duties include making travel arrangements, paying bills, making appointments and many more. As a virtual assistant, you have the benefit of working from the comfort of your home and only interacting with your clients online. How much you are paid depends on your overall expertise and experience as well as the number of clients you can comfortably handle.


Author Bio

Sarah Kaiser is a digital marketing manager at a French retailer’s sourcing division, which specializes in private labeling, Asian supplier audit and customized product sourcing. She’s a fan of water sports and has studied business management in France. Her works have been published on dozens of websites and blogs. If you are interested in starting your private label business, you can contact her at info@godirek.com or follow @Godirek on twitter.

Tips to Open a Net Cafe Business

The Net Café went through a short period of obscurity, but seems to be on the rise again. While not the gaming-centric beast that it used to be for American audiences, the Internet café still acts as a place for locals to gather and use the Internet. It leads to interesting interactions, fun scenarios, and it can be  a profitable business. Before you get started, read these tips.

Use Rentals to Launch

Before you can accurately anticipate demand for your business, use computer rentals. Why pay for a dozen high-powered PCs when you can pay a fraction of the cost for a computer rental in Santa Ana? Your community might not need that power, they may require a place to hang out and check email or write. Before you sink money into building a high-end net café, figure out if your customer base even wants one.

Sell More than WiFi

People aren’t going to come for your WiFi when there is a McDonald’s down the street offering free WiFi. You need something else to hook them. You could offer a laptop rental from Santa Ana, some baked goods, drinks or access to specialty software.

If you offered a laptop rental from Anaheim to someone looking to do video or audio editing, for example, your space becomes a lot more attractive. You can take that one step further and offer a podcasting space, with a soundproofed and neat-looking interior.

Advertise

You won’t get many customers if you don’t put some effort into things like your Yelp page, your home page and your search results. Do a bit of SEO work, pay attention to your reputation online, and actively engage customers via social media.
—————————————————————————————————————————-
Based in Santa Ana, Advantage Computer Resources is a full service rental company for AV and computing equipment. To secure a laptop rental in Anaheim, visit OCComputerRentals.com.

The Best Questions to Ask Before You Open a Merchant Account

open-a-merchant-accountIf you want to use a merchant service provider, you’re eventually going to need to speak with a merchant service provider. These calls can be intimidating for newbies who are more interested in selling a product than finding a mechanism to accept payment. This guide will help you direct some pointed questions at your representative.

After reading this guide, you’ll be able to choose the best payment gateway for your business based on the benefits that directly help you the most.

 Ask About Pricing

One way to tell you’re working with a good company is to ask about pricing structures, which is a fairly common question. Your rep should be able to clearly explain the differences between the different payment structures (flat rate, tiered pricing and interchange).  If the rep doesn’t understand these differences, or doesn’t have a good explanation for why one is better for your business than another, then you should pass.

Ask the Right Questions

Contracts are fairly standard, but it’s best to get month-to-month service so you have the freedom you need as a business owner to choose whichever payment processors work best for you. You should also ask about funding times, which ideally should be no longer than about 48 hours. Other questions to ask include online reporting, setup fees (which shouldn’t exist without software or hardware to incorporate), and any questions you may have regarding Amex.

With mobile wallets catching on, mobile credit card processing might be another concern you’ll have during this process. If you’re planning to accept Google Wallet, Apple Pay or any of the other services that utilize mobile devices, be sure to inquire about fees and implementation for that technology as well.

 

Tips on Becoming an Effective Young Leader

Effective Young LeaderAge shouldn’t be a factor when it comes to the success of a business or company.

If you believe that your age is a setback to becoming a great leader, then you’ve already lost half the battle.

There are numerous young leaders that are finding success way beyond their years. They’re molded into a great leader through their successes and their failures. Every leader must go through these life pains, and only through these events can there be a better sense of clarity. Here are some points that you can emphasize in your workplace to make you stand out.

Promote Communication

“Talented people want to learn,” says Richard Davis, Chief Financial Officer of Rogers & Cowan, “they want to be trained, coached, listened to, and most importantly, they come to work happy and ready to do their very best every day.”

Do more listening than talking. If you maintain a strong social presence with your team, they’ll be more likely, and more willing, to communicate with you on an active basis. This could be something simple as to drop by their desk every now and then and making sure they’re doing alright. You’re their go-to when it comes to the company. If you want your company to succeed, then you’re going to have to create that sense of success in the environment.

Development is Crucial

As a young leader, you may reach a point where certain individuals are flourishing more than others, climbing the ranks to where there’s nothing more that you can teach them. It’s important to not to let your own fear of job security get in the way developing your team. In the long run, it can be detrimental to your company’s success.