Category: Operations

Signing up with a credit card processor is a big step for small businesses. It allows small business owners to accept more forms of payment, which in turn drives revenue by making it easier and more appealing for customers to shop in the store. Before signing an agreement with a credit card merchant service processor, however, it is important to get all of your questions answered so that you know you are putting your business in the best position moving forward.

Start by inquiring about and understanding any contract requirements, as well as any processing rates as they relate to various types of cards. Get these rates for all cards, including corporate and rewards cards, in writing, so there are no surprise increases down the road. In addition, talk to your processor about American Express transactions, as well as the procedures for fee deductions from your account and if they offer next day funding. Finally, research a potential processor and consult other small businesses about their merchant solutions so you do not get stuck in a situation that does more harm than good.

10 Questions Every Small Business Must Ask Their Credit Card Processor

It’s amazing how many businesses are so adamant about managing everything in-house. It is a common modern-day business dilemma where the need to have someone in house isn’t as necessary as it was previously. This is because there is such a demand for skillsets and the ability to deliver rather than to have a large amount of staff in-house. An organisation can grow to a great size with strong scalability if managed well with an outsourced team. Ideally, the same type of structure should be manageable with an in-house team. There are TAFE courses that discuss the approach to managing both staffing methods in business modules. Below, we take a look at some of the benefits and considerations that business owners should have when they are deciding to outsource or to have in-house team members.

The human resource cost.

It is amazing how much it costs to hire a person into an organization. There are quite a lot of overheads that come into it, along with the salary that is provided to the employee. Businesses need to consider the cost of the equipment for their workstation, the cost of the office space and energy costs per person. Other considerations include loss of business associated with staff holidays and sick days. There is also the time allocated to staff meetings and the need to boost employee morale. Furthermore, should you need to get rid off an unproductive employee, it may prove to be costly with gardening leave wages or the threat of legal action! A good staff member will be valuable and profitable to your business. A bad one can do a lot of harm to your business.

The option to go with a freelancer.

There is a risk with going with a freelancer. However, the financial risk tends to be a lot lower than employing someone in-house. Generally, they are cheaper as they will charge lower rates. The good thing is that if the freelancer isn’t performing, all you need to do is stop your working arrangement with them. Furthermore, the freelancers tend to have higher skillsets from working hands on across projects in their careers. These skills can be leveraged at a fraction of the cost, compared to hiring someone in-house. Since they work for themselves, they set their own wages or fees, so you aren’t subject to meeting minimum award wages for labour in that particular industry. That responsibility is passed onto the freelancer. Another additional benefit is they do the invoicing, bookkeeping and accounting. This saves you managing this process with your own internal accountant.

The option to go with an agency.

Going with an agency can be beneficial, but it all comes down to the account managers and the execution team. Should the account manager do a great job, then you will essentially be gaining access to a productive workforce at the price of hiring and managing one person internally. Typically, the agency will have their own tools, software and hardware to manage and deliver the operations for their clients. If the agency isn’t performing well, you will have the option to dismiss the agency. However, the termination clauses will need to be agreed upon between both parties, prior to the commencement of the working engagement.

The option to go with a licensor or franchisee.

Do you need a working arrangement where another company can manufacture and deliver goods or services under a licensing or franchisee arrangement? This is a good way to expand your businesses services quickly. Furthermore, you can manage the amount of control that you will have with these types of arrangements, without being subject to hiring costs.

While hiring someone can be the optimal option if done well, there are plenty of other solutions that you can take advantage of. You can invest into a process that is already working with an outsourced solution.

There’s a transformation going on in the world of business, and if yours hasn’t yet caught on you’re late for the revolution. It’s all based on the cloud – a term that refers to a new way of utilizing the enhanced connectivity brought about by the maturation of networked services.

The business model of a cloud-based software service utilizes the Software as a Service – or simply SaaS model. Offering centrally hosted software accessible from multiple clients in remote locations, it offers a number of advantages over traditional methods of software deployment.

Cutting Costs in the Cloud

You’re undoubtedly familiar with these traditional deployments. They require businesses to license pre-packaged enterprise solutions and rely upon the in-house IT department to deploy and maintain the software. There are a number of drawbacks to this model, virtually all of which are addressed by adopting a cloud-based service.

Traditional software licensing involves a lump sum paid for software that may include components your business doesn’t even need. Alternatively, cloud-based services typically employ demand-based subscription pricing models that ensure you only pay for what you need and use.

There’s tons of examples and Praktika is one of them. This cloud-based dental practice management suite, offers expandable storage and reporting on a month-to-month basis depending upon the needs of the practice. As such, a small practice with fewer clients will pay less than a larger client with more substantial storage needs. This flexibility is simply not possible in traditional software delivery models.

These subscription fees also include software updates and upgrades. This task traditionally fell upon a company’s in-house IT department, adding hours to the payroll as each instance of the software was individually maintained.

Safety and Security in the Cloud

The guaranteed security and integrity of a client’s data could be added to the list of cost-cutting benefits offered by cloud services, but the most significant advantages of shifting these responsibilities to a third-party provider outweigh even the substantial savings that come with them. Put simply, many cloud-based service providers offer better data security than all but the largest companies can afford to offer.

Protecting clients’ data is among the highest of priorities for any respectable cloud service. As such, the subscription fees typically include automated backups that protect against the damage or loss of your data. This alone is less costly and time-consuming than performing and storing your company’s data on local servers, but it’s just the beginning when it comes to cloud security.

Cloud services often employ hardened data centres that virtually guarantee your company won’t be the next headline associated with a data breach. These data centres utilize the latest encryption techniques, monitored firewalls and even armed guards, all of which provide a level of shared security that any one company would find it hard to match on a limited budget.

The Efficiency of the Cloud

While all of the advantages mentioned above offer ample encouragement for any company considering a move to the cloud, they all exist in the budget and behind the scenes. While the enhanced productivity offered by cloud services will find representation in your company’s performance metrics, it will also be the most tangible benefit from the first day forward.

Cloud-based services, by their very nature, allow multiple team members to simultaneously access the same information at the same time from any location (within their allowed access levels, of course). This not only allows employees to work remotely with ease, but also provides a platform for modes of real-time communication like instant messaging and VoIP – Voice over IP – calls and conferences.

Such accessibility and communicability creates a space for remote collaboration that eliminates the need for board rooms and conference tables. Real-time meetings can occur across time zones, and evolving projects can develop as information is acquired.

While the cloud may seem to be a relatively new concept, the principles and technologies upon which it is based have been in development since as far back as 1969. Indeed, the early adopter phase has long been over, and the explosion of successful cloud-based services is evidence that the cloud is here to stay.

More and more businesses are adapting their strategies to include the cloud, and your competitors are sure to be among them. The emergence of the cloud is more than just a trend – it is the beginning of a sweeping change in the way that businesses handle their software and networking needs. The advantages are clear, and there’s never been a better time to consider your company’s future in the cloud.

Article Contributed by Cameron Johnson

According to the U.S. Small Business Association 9SBA), small businesses provide over half of all American jobs. However, according to the U.S. International Trade Administration (ITA), less than one percent of America’s 30 million companies export products abroad. The good news is that there are great opportunities for exporting, importing and expanding your business abroad. Below explains five tips for making your international transition smooth and trouble free.

Get Free Help

International business may sound daunting, but there are many excellent resources available to help you through the process. For example, the U.S. Small business Association (SBA) offers a variety of assistance programs to businesses. For example, there are online tutorials, counseling sessions and even the SBA Loan Program. Free, local assistance is available through the SCORE program, which involves experienced or retired business experts mentoring small business owners.

Supply Chain Secrets

All imported items into the U.S. must be cleared through U.S. Customs and Border Protection (CPB) by a licensed Customers Broker. Therefore, you can outsource your import needs to a professional. For exports, any business person can book an export container through one of the major shipping lines online and clear customs through CPB’s free, online Automated Export System (AES). As a result, you can save thousands of dollars every year by taking care of your export logistics yourself. Keep in mind that there may be transportation or supply chain restrictions in your target country.

Licensing and Certification

U.S. import and export laws and controls are not only complex, but also confusing. Small importers and exporters face the daunting task of dealing with not just international shipments, but a host of state and federal regulations. For example, the Dept. of Commerce may require an export license, depending on your product’s Export Control Classification Number (ECCN). In addition to these, certain industries also have required certification. For example, the USDA must inspect and certify many different agricultural and wood products for export. Always check with your Customs Broker for the necessary licensing and certification requirements at home and in your target country. Keep in mind that almost all U.S. business related bureaus and departments provide limited customer service support for businesses.

An American Abroad

Many Americans avoid traveling abroad based on what they see in films or the news. Contrary to common perception, traveling abroad is quite safe and easy to do. Keep in mind that your international business success depends on your ability to develop and maintain professional relationships. Therefore, setting up a business abroad will eventually require you to travel abroad to meet with your overseas business partners or customers face to face. This will be both an enjoyable and challenging experience. Consider learning a little about the culture and language. Be patient, friendly and outgoing. A successful trip abroad will solidify your business relationships and increase your chances of long term, international commercial success.

Universal Content Marketing

When it comes to marketing, experts often focus on being culturally specific with in-depth local market research. For example, Microsoft’s famous search engine Bing actually means ‘sickness’ in Mandarin Chinese. This is exactly the kind of marketing blunder that you want to avoid with one of the largest potential markets in the world. However, most marketing content isn’t about slogans or catchphrases. In fact, you can save money and time through designing universal content which can be easily adapted for different countries and languages. Multi-purpose content will increase your efficiency and marketing effectiveness. If needed, consider using professional subtitling services. Keep in mind that one study found that over 60 percent of companies outsource their content marketing.

In conclusion, small businesses can successfully expand internationally through getting free help from the SBA, making smart supply chain choices and always verifying the necessary licensing and certifications. Connecting with partners and customers abroad and creating universal content marketing are also excellent ways to be internationally successful.

About the author:

Cameron Johnson is a business consultant and entrepreneur. Over the course of his career he has conducted case studies on both social media optimization and non-profit marketing. Cameron has also had the opportunity to speak at international business conferences and was recently recognized as one of the world’s top 100 advertising experts to follow on social media.

Document storage can be the perfect tool for any small to medium sized business, hugely boosting your productivity and lowering your carbon footprint. But, sadly, many SME owners and young entrepreneurs are unaware of what document storage actually is, as well as how it can help their business. In this blog post, we look at what business storage is, where you can get it from and why you need it.

What is Document Storage?

Document storage is perfect for those who are struggling to focus on their core business. Simple tasks like document storage, document archiving and records management may be straightforward, but they’re also time consuming, draining the time that your employees can spend focusing on their jobs that generate profit for your business.

Of course, it is vitally important that these tasks are done correctly and accurately, and corners certainly cannot be cut. But, by outsourcing your document storage, you’re able to increase the productivity and efficiency of the day-to-day running of your business.

Who Offers Document Storage if I Outsource?

If you do opt to outsource your document storage and upkeep then there are a number of skilled companies you can offload it to. Take TNT Business Solutions, for example. They currently manage over 300 million physical and digital records, proving that they have a service you can trust.

Of course, TNT aren’t the only option that you can utilise, and they’re merely one example. However, the amount of documents they’re currently in care of shows you the scale of the number of businesses using document storage solutions – make sure your business isn’t missing out.

Why Use Document Storage Solutions?

As well as increasing your productivity, outsourcing your document storage solutions will also provide other key business benefits such as:

• Reducing your business footprint
• Saving your business space
• Creating an effective supply chain
• Increase hop floor presence of staff (if you work in retail)
• Save time.

With particularly innovative storage solutions now available, much of your paperwork can also be digitised, giving you and any of your colleagues instant access to any of the materials they may need for their jobs. When you think of it like this, outsourcing your document storage seems a no-brainer.

So, there we have it, just a couple of reasons why you should seriously consider outsourcing your document storage solutions to an external company., By increasing productivity, saving time and reducing your business’s carbon footprint, there are certainly a number of great reasons to consider it.