Each small business has its own financial goals. Still, if you’re like a lot of owners out there (especially if your enterprise is new), your goal is likely summed up by one word: stability. Based on the sheer amount of daily decisions that an owner of a new business faces, “stability” as a concept can feel like a distant myth. What strategies can businesses employ to get financial stability? While getting the best mobile credit card processing helps, strategically, that’s just the tip of the iceberg.
If you ask the average consumer why they might choose to buy from a small business, even if they aren’t the low-price leader, real human interaction will likely be a part of their answer. If you’re going to take on Amazon and the big guys, part of your strategy has to be to emphasize the fact that you’re a human, that you care, and you can develop a relationship with your customers.
Especially if your business model includes regular billing, tech can help solidify that relationship. Payment software can make recurring payments beautifully simple. That doesn’t mean you can “set and forget” your customers; do your best to stay connected with them using quick, well-intentioned email blasts, or even a check-up phone call, when possible.
In the end, profitability is not rocket science; you just have to ensure that more money is coming in than is going out. It’s the easiest way to get in the black and stay out of the red, if only it were as easy to do as it is to say… If this is a constant worry for you, there are tangible ways to better stay on top of it. Going with a credit card processor that comes with robust digital payment tracking features is worth it. Also, a dedicated merchant account (like Moolah) can give you faster payment processing than payment aggregators, like Square. It’s a small difference, but sometimes, when cash is an object, it can be big.
There is a continual lower barrier of entry for businesses that want to benefit from the newest tech. App-based solutions do more each year to offer cool new simplifying solutions to small businesses. Moolah likes to stay at the heart of this continuing renaissance being created by the apps and the best mobile credit card processing companies. Our integrations keep our services on the cutting edge of what’s offered in payment technology.
Keeping your business stable is effected by the technologies and services that are changing the face of the industry. But just as crucial, if not more, is the opportunity new tech gives small businesses to reach their customers in a more connected, human way.