What’s the Real Problem?
When you spend your days looking for ways to help business owners grow their enterprises, you are always on the look-out for useful tidbits of information, common recurrent problems, and case studies that reveal insights. Here is an important item that has hit my radar screen multiple times this week (and it’s only Wednesday) that reveals a lesson all business owners should consider. It started on Monday when a vendor mentioned that he had recently noticed he was ‘losing money’ by allowing his clients to pay their invoices via Paypal. Later that day I visited a local deli for lunch and was greeted by a newly posted sign on the cash register stating that they now required a minimum purchase of $7.50 for credit/debit card purchases. Then last night on one of the network editions of the evening news there was a story about merchants who have minimum charge policies for credit or debit transactions (despite the fact that this violates their terms of service for their merchant accounts). Don’t get me wrong, Read more
