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GET CONNECTED TIPS
Nifty ideas you can use to build a better
business
Get Paid Faster
A little incentive can be a big boost to your small-business cash flow. When you send invoices or bills, offer a discount to customers who pay within 10 days. Giving a 1-percent or 2-percent discount for early payment might not sound like much. But you may be surprised at the number of clients who will jump on the chance to save a little moolah. And you’ll get your money faster.
Prepare For Micropayments
Last year a survey from market research group Ipsos Insight found that more consumers are using credit and debit cards for purchases of less than $5. An estimated 45 million Americans would whip out the plastic for such purchases, and not just online. Kiosks, coffee houses and other brick-and-mortar shops are also seeing an increase in plastic micropayments. Convenience is the driving factor for consumers. For merchants, the issue is how to make a profit from micropayments. Two ideas:
Offer prepaid cards that customers can use exclusively at your shop Look for card-processing and payment vendors that can help you reduce costs and increase profits on small transactions
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