Merchant Account Fees

The first of the year has come and gone. Resolutions made at the beginning of the new year are in progress or possibly already broken. We sometimes only remember to make personal resolutions. However, it’s still not too late to take stock of your business and decide how to make 2018 your best year yet! Below we offer some tips and suggestions on small things you can do to make you’re your business is prepared for success in 2018.

1. Organize – Our list would hardly be complete without including at least one section where we urge you to organize your business from top to bottom. If you don’t have a clear and comprehensive business plan, it’s not too late to start. You can gain some real clarity by knowing the health of your business and well as projections and forecasts for the future. Knowing where you will be most successful in your niche market is another reason to consider creating a business plan. You can identify your niche and create a unique plan to help you target and grow your niche in the new year.

A list on organization should also include getting prepared for tax season by getting your financial books in order. Instead of scrambling to pull together receipts in April, take the time now to organize your books so that you have the pieces you need to take the most deductions possible for your small business.

2. Refresh your website – it is not uncommon for business owners to set up their website and then quickly let it grow stale. If you want your customers to return to your website and engage with your website then you may want to consider a fresh update at the beginning of the year. Use tools like google analytics or paid tools to tell you what items are most popular on your website. You can also use those tools to find the items that are a waste of time and space.

Don’t forget to take a look at your competitors websites. If your competitors websites are generating any type of income, then it is worth it to research what they are doing and learn a lot about the direction they are heading in the new year.

Additionally, your audience is expecting a unique, interactive web experience. If you want to set yourself apart from your competitors, make sure your website is an place that your audience will enjoy so they come back for more.

3. Replace Old Technology with New – Investing in technology can cost a lot of time and money. However, you can also waste a great deal of time trying to keep old technology up and running. Take the time to look at what the real investment into new technology would mean for your company. Does it create efficiencies that will allow you to focus on other business priorities? As your audience becomes more tech savy, they expect and sometimes demand that your technology makes their life much easier. Holding on to old technology to save a buck, may cause you to loose much more in future growth.

4. Audit your Business -The more successful you become in the business world, the harder it can sometimes be to see problems within your business. That is why we recommend that you audit your business once a year to look for weaknesses. Also look at ways that you can improve business processes and solutions. Don’t forget to review customer service to ensure that your customers are having positive interactions with your employees.

5. Review your Merchant Services – Rates can often time change from month to month per your agreement with your current Merchant Services provider. We recommend that you spend some time going through your documentation and making sure that you weren’t subject to a bait and switch type deal with your current merchant processor. Also, we recommend that you check your processing rates to ensure that you are getting the best deal possible on each transaction. Occasionally, a small change in how you process a credit card can affect the fee’s and percentages per transactions.
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