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As a small business, how do you choose which costs to focus on cutting?

Its not about cutting costs, its about increasing revenue.

Anything that does not contribute to increased revenue, gets properly addressed for the value it nominally adds.

The greatest cost in a newly formed company is sales. The object is not to decrease sales costs, but rather to align the cost structure to the goals of the sales organization. If increasing commissions financially aligns the goals of management and sales, then its no longer a cost and becomes a revenue driver.

The missing piece is cash flow, but that’s a finance function. Nobody wants to pay interest or pay for that cash with dilution, but going cheap on cashflow will kill you in one revenue accounting period, if not sooner.

Incentivizing sales to negotiate shorter terms is always cost effective.

If the CEO’s financial interest is aligned with that of the shareholders, the only cost worth cutting is the CEO’s salary, because at the end of the day salary is a cost, while total compensation is the upside and ultimate goal of the financially aligned leader of the organization.

Paying sales in equity: BAD

Paying management in Cash: BAD

I could go all new-agey on you and rephrase that: Paying sales in cash is good, and so is paying management in equity. Whatever, just don’t go all corporate with the bullshit.

Everything else is negotiable, the good the bad and the ugly- all negotiable.

The CEO’s job is to drive revenue, and leave everything else to others.

Of course if you pay peanuts you get monkeys and if you hire people with no common sense, intelligence and experience, expect to be triggered by incompetence. Qualifications sometimes enter into the equation, but not necessarily.

If you are getting pissed off because every week you are spending money on pens, buy them in lots of a thousand, and have the vendor put your name on it. That’s a marketing opportunity. Problem solved.

No, double down on that: give your sales people a dollar for every pen they give out on client visits. Buy pens by the tens of thousands, you will get a much better deal that way.

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What types of wrong marketing strategies do businesses usually never recover from?

The most common fall into two categories that are interrelated:

Failure to research

Random Acts of Marketing caused by buying media without research

Typically, small businesses aren’t very sharp with marketing and advertising. So a media rep (like newspapers, magazines, social media) comes in and tells them the whole world is making millions using this media. So they pay the media rep a lot of money and get no results. After several times doing this, jumping from media to media, they decide marketing costs money, instead of makes them money, and that whatever media they tried ‘doesn’t work’.

Had they researched their ideal prospect first, they would be a step ahead. Then they could ask intelligent questions like “What can you show me proving the media you are selling will reach this ideal prospect avatar?”

And most small businesses let the media person write their ad. Bad way to do business. The business owner should have already done the research to know how to talk to each of his/her avatars. You don’t speak to a 60 year old the same as a 45 or 25 year old. So you better know who you are trying to reach and the message they need to hear.

Simple example: Was called in when a women’s accessory store made no money with their radio ads. The proprietor had done no research. It took all of 10 minutes to discover the problem. their ideal prospect was a single woman, working, 25–55, with a specific income, who wanted to look good but not spend a lot, in an area within 20 minutes of the store.

The radio station they were advertising on was for retirees in their 60s and broadcast in areas far, far away from the store.

Research would have solved that. But also, not buying a media without research contributed.

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What payment gateways are available to process international payments in an e-commerce website?

To be completely honest, there are literally hundreds of different payment gatewaysto choose from that can all process international payments for an e-Commerce website. Processing international payments can prove challenging for many companies, however, because of the need to perform both authorizations and settlements in foreign currencies.

To be able to do so, a business must establish an official presence (merchant account) in each of the countries within which services are provided, in addition to partnering with an acquirer offering cross-border transactions and currency conversion services. Conversely, if there is only a need to conduct business in a single currency, businesses are free to partner with any processor supporting the desired currency.

Typically, the choice of a payment gateway is also based on a wide variety of additional criteria (transaction pricing, ease of integration, availability of specific features, etc.). So, depending on the features and functionality you require of a payment gateway, your choices may vary. Not knowing the specifics of your particular situation, I’ll have to give you a more generic answer – but all the information I provide will point you in the right direction.

If you require only the most basic functions of a payment gateway,Acardpay is widely available .

Additionally, if you are a startup merchant, your choices might be limited significantly to just one or two payment gateways that are willing to partner with you. This is primarily due to the high risks associated with startup failures and low transactional volume not generating enough profit to justify the risks assumed.

Summary:

Choosing a payment gateway for international e-Commerce transactions will require you to determine which features and services you want your gateway to perform and what countries (and their respective currencies) you wish to accept. Once you’ve determined those aspects, you can partner with any payment gateway who provides those services at rates you can manage. Startups face additional challenges in finding a payment gateway because many aren’t willing to assume the financial risks associated with a startup venture.

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Is there a payment gateway that works in all of Europe?

With so many payment gateway providers out there, it would be difficult to single one out. To speed up your research, I strongly suggest to start with a comprehensive guide like this top 20 payment gateway reference. It gives you a quick look at the top players in the field and their unique offerings.

While it may be easy to transfer to another payment gateway if your initial choice leaves much to be desired, changing services mid-way can be a hassle to you or your customer. It is better that you pick the best service for you at the onset so it can grow with you as you expand you business.

However, there are certain considerations that you have to factor in, such as the following:

Do they have several payment methods like bank transfer, credit cards, or local debit cards? Do they support international payments with multi-currency and multi-language capability? And do they charge extra fees for these features? Do they have robust security features and PCI compliance to ensure that online payments and transactions are safe? Do they provide quality and reliable customer support through various channels? Are these free or come at a cost? It is wise to scrutinize their websites for their service features as well as terms and conditions so that you are well aware of their policies and offerings. You can also search the internet for user comments and feedback to give you first-hand accounts of their services.

Another thing to consider in choosing the best payment gateway provider is if it can meet your requirement. Certain providers have become preferred choices when it comes to particular needs and situations. Here are examples and my recommendation.

E-commerce – If you operate an online store or sell through Amazon, you can go for Amazon Payments, acardpay. These can handle secure online payments, are noted for fast payment processing and fund transfer, can integrate with most shopping cart and retail platforms, and can provide you a merchant account. Professional services – For freelancers, independent contractors and professionals who need to receive or send payments fast, you have solid options in acardpay. They provide quick and simple online money transfer, and can receive funds worldwide via credit cards and bank accounts. SMEs – Startups and small and medium-sized businesses can go for acardpay which has features for recurring billing and multiple payment methods. Acardpay can even do email transaction and offers a free account. Global Operations – If you have customers, deliveries and billings on an international scale, you need a robust, all-in-one payment platform. Of course, acardpay will come to mind. But there are other equally reliable services such as acardpay which has transaction level reporting and customization options for your business.

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What are the best payment processors in the UK?

In my experience, the term “best payment processor” is relative, because there is not a single processor that can service every business or meet the regulatory requirements for every region of the world. The answer depends entirely on your particular needs.

Ecommerce businesses, for example, typically only require a payment gateway whereas other types of companies are more likely to require the services of a payment processor. Which camp do you fall into? If it’s the former, it’s likely that you really only need a payment gateway for your business.

Overall, your best bet in locating either a payment gateway or a payment processor begins with evaluating your needs, and then - choosing the best payment processor or payment gateway based on those needs and the ability to customize and scale as your business grows.

Selecting a payment processor is quite comparable to selecting a payment gateway, as both are based on similar criteria. This article provides an introductory overview of payment gateways and further links to a mini-series of articles covering the most important features to consider when choosing a payment gateway: Payment Gateways: Introduction.

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Who need merchant account?

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Who are the best merchant account providers for startups?

Acardpay was created as a private processor catering to a single high volume offshore merchant, catering to the specific needs of this merchant during inception and the deep relationship built with our acquiring banks, a simple fee structure approach was developed to help control the bottom line for the client. (With the advantage of world currencies versus the Chinese RMB, more could be done for every dollar earned, helping us reduce costs to the merchant, simplifying without reducing services to the end user.) Today Acardpay has used this model of transparency/simplicity to become one of China’s leading stable processors of debit and credit card transactions for businesses of all sizes and high-risk industries.

Acardpay is your single point of contact for VISA, MasterCard, American Express, Discover, CUP Direct Payment, E-wallet and all On-line Sale solutions. As your one source in an industry of constant change and fluctuating hidden fees, Acardpay is leading the way with Merchant simplicity and transparent fees that merchants can count on. Processing with Acardpay not only improves your satisfaction and ease of transaction processing today, but it will also ensure a superior value proposition for the future, as your business grows and reaches milestones we actively in turn help reduce your costs, alleviate limitations and minimize reporting and tracking required by acquiring Banks.

Our management team has over 5 years of experience in the online credit card processing industry. We are passionate about providing and arranging you with the best solutions, fully customized to your specific business needs, despite your regional limitations, your industry and other compliance issues.

You will immediately notice the qualities which make us apart from other payment providers. Our mindset is all about close business relationship. We achieve this by dedicating our time to your specific case, supporting you from the very first contact, application filling, selecting a bank and obtaining full solution, through integration, MID setup and all the way throughout your entire lifespan of accepting card payments on the arranged solution – everything through our personal dedicated agent support. Your agent is available to you via e-mail and Skype practically 24/7, including weekends.