Business

Business Tips & Info


Debit Card

Debit cards are great form of payment and every business should accept them, because they have so many advantages.

Debit cards transfer funds from customer's bank account to the business's bank account. The customer gives the card and the business person enters the amount of sale and runs the cards magnetic stripe through the terminal. The customer verifies amount of sale by his/her PIN (Personal Identification Number), same as is used at an banking machine. The amount come out of the customer's account immediately and are credited to the business's account usually at the end of the business day. The business and the customer receive a record of the transaction.

NOTE: Some debit card terminals handle both debit card and credit card transactions. Ask your banker about that.

DEBIT CARD ADVANTAGES:

Reduces business's cost for handling cash.

All transactions are automatically recorded for both the customer and the business.

Reduces risks of robbery, shortages, counterfeit.

Business have same-day credit.

Customers are not limited by amount of cash they are carrying, and that can boost sales.

There's no risk (like with bad cheque or credit card), because funds are guaranteed.


DISADVANTAGES:

Rental fees for equipment (terminal and your electronic equipment) .

Transaction fee, depending on the equipment and bank you use.


Related Links:

Business Guide

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Your Product or Service

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Glossary of Business & Financial Terms

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Defusing Difficult Relationships

Being a business owner can sometimes test you patience. Cranky employees and difficult customers can sometimes make you feel like you are a magnet for attracting frustrated people and problems. In order to survive and keep your sanity in going forward, address all factors that affect your business with a strategic and patient approach. Remember the first golden rule of conflict resolution: "LISTEN AND KEEP YOUR COOL." The second rule is: "BE PLEASANT AND KEEP AN OPEN MIND." The third rule is: "ACCEPT RESPONSIBILITY, SHOW EMPATHY AND OFFER APOLOGY IF YOU MADE MISTAKE OR CONTRIBUTED TO THE PROBLEM." How you respond can make the difference between solving the problem or losing.



Accept responsibility
rather than blaming someone else
Let difficult people know
you can see their perspective
Keep your cool
show empathy and apologize

Did You Know?

It doesn't take a fortune to sell your products and services on the Internet. It just takes some knowledge of what your customers want and how to find a way to present your sales solution to them.

For business people either selling products or promoting their services on the Internet, the importance of attractive, fast, usable sites can't be overstressed. Much like a counter person or storefront, the appearance and function of a business' website conveys an image of the company to the customer.

Your website is your image on the Internet. That image can either be good or bad, and bad images don't sell. Adhering to a few common sense web design rules can help with the public's perception of your company and increase your sales. Find out more...