Small business tips: how to accept debit cards

As an entrepreneur, selling your product or service is a major part of business. Once you have your target’s attention and they agree to buy, one must be able to offer a variety of payment options. Long gone are the days of cash and carry, and some people don’t own any credit cards. Personal checks come with security risks, and take longer to receive the funds. But most people have a checking account, thus they have a debit card linked to that account. A debit card is convenient, because it allows the consumer freedom from carrying cash. It also allows the consumer to make a purchase and have it immediately deducted from their account. So, how does one accept debit cards?

The primary step is to obtain a merchant account. A merchant account is an account that links your business checking account with a debit card processing company. The company processes the purchase from the debit card and transfers the money into the merchant’s business account. The company may charge a transaction fee that can range from 1.5 to 3 percent of the purchase, or a flat fee. Some merchant accounts also charge a monthly fee in addition to transaction fees. Merchant accounts are offered through banks as well as independent providers. Many entrepreneurs employ the merchant account services of their business bank.

Once one has a merchant account established, one will need a debit card terminal. This is the same type of terminal used for processing credit cards. There are two ways of accepting debit cards – online or off line debit card transactions. With offline transactions the merchant swipes the customer’s card through the terminal, just like a credit card, and the customer signs the receipt. For off line processing, the debit card must have a Visa or MasterCard logo on it.

Online transactions require the merchant to swipe the card through the terminal, and the customer must enter their personal identification number on a separate PIN pad. Online processing is more economical because the merchant is charged a flat fee per transaction. Offline processing leads to a percentage charge per transaction. Terminals and PIN pads may be bought or rented from the merchant account provider.

Terminals aren’t the only option for processing debit cards. There are wireless options such as an 800 number verification service. Your merchant account provider may have an 800 number available where one can call in a debit card purchase and receive instant authorization. Only offline processing is available for this option. This option is good for mobile entrepreneurs who have limited or no access to electrical outlets to plug in terminals.

Internet businesses provide for merchant customer transactions where the two never meet. There are merchant account providers who specialize in processing payments over the Internet. An entrepreneur would link his website shopping cart to the merchant account providers system, and the transactions are processed immediately. With Internet processing only offline processing is available.

Today’s consumer has high expectations and demands of the merchants they deal with. They expect a high quality product at a competitive price with fast delivery. They also expect to be accommodated; no matter what payment option they choose. Debit cards are increasingly becoming a primary choice when making purchases. Are you ready for your customers? If not, another merchant is.

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Improve your supervisor skills

The ramifications of being promoted to supervisor is shocking. Your lifelong friends are now your subordinates. Suddenly you realize that "budget" is not really just an excuse to deny requests.

The first day that you're in your new office is most important.

#1. Observe. Now is not the time to say things that you will regret at a later date. Your perspective is going to change as you review your budget and begin to understand the dynamics of interoffice relations.

#2. Take notes. Begin your organizational habits from day one. Buy a yellow legal notepad and begin to make lists of things that are vital to remember. Make a list of equipment that you will need. Make a list of questions that you will need answers to. There will be an overwhelming avalanche of information that you will be responsible for and the fact is that most of us cannot remember every little detail. If you don't write it down, it will be forgotten.

#3. Find a mentor. With a little luck, you can find a mentor that is not in your own chain of command. This will allow you to confide some details and situations that should not land on your own supervisors desk. #4. Think through scenarios. Constantly ask yourself how situations should be handled. If you can decide on a proper course of action prior to actually confronting the problem, it increases the odds of you performing as a respected supervisor.

#5. Leave work at work. A strong work ethic is vital to your success but you must realize that if your not sleeping and taking care of yourself, you will become sick. A sick supervisor is not an effective supervisor. Allow yourself time to relax and refuel your reserves.

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Effective leadership skills: meetings, agendas, minutes

Leadership seems to encapsulate so many different qualities and be a quality of character or style, charisma or indefinable spirit. Even the most powerfully charismatic leader can be unsuccessful unless they have the right tools of leadership at their command. These tools include planning and organization. Knowing how to put together an effective agenda, to plan a productive timely streamlined meeting and how to chair that meeting, directing the flow of information can be the difference between victory or defeat. Understanding the importance of record keeping through minutes to record votes and important information from the meeting is essential to prevent future conflict and preserve the integrity of the organization. Defending the rights of the minority from being overwhelmed by the majority can best be understood through rules of order, more specifically Roberts Rules of Order. Without these tools a leader may be doomed to muddle through in abysmal chaos and confusion. Becoming mired in endless debates without setting solid realistic goals or attaining objectives.

The standard method for planning a meeting is called an agenda. Basically it is similar to an outline one would create for a term paper. The following is a sample agenda for an organization information in parenthesis is commentary not the agenda itself:

ABC Organization

AGENDA

Date of Meeting

I. Call to Order (The meeting is called to order at a certain time by the President or Chairman or presiding officer/the person running the meeting. Usually the time is announced so the secretary can record it in the minutes.)

II. Reading of the Minutes (The Secretary of the organization reads the minutes which is the record of notes taken at the last meeting and the members of the organization vote on the minutes as correct or ask for changes in the minutes, in wording or content usually through motions called mendments or additions, or deletions.)

III. Reports

A. Officers

(1) President

(2) Vice President

(3) Treasurer

(4) Secretary

(5) Committee Reports

(Reports are usually given by each officer on their work, or the committees they chair or projects, or the amount of money in the treasury etc., also sometimes committee reports are included although they can also be included under their own seperate heading.)

IV. Old Business

A. Confirmation of New Committee Chairman

B. Final Vote on Budget

(Sometimes called Previous Business, referring to anything from a previous meeting that did not get addressed, taken care of or voted on etc., it is handled first to make sure it is not forgotten or ignored.

V. New Business

A. Presentation of Amendments to the By-Laws

(1) Mr. Jones: Amendment 5

(2) Mrs. Smith: Amendment 7

B. Guest Speaker

(1) Dr. Johnson, Public Health Director

C. Fundraising Project

D. Charity Ball

( New proposals or projects or presentations on the agenda for voting or discussion or debate or to be assigned for study to committee, this can also include time for guest speakers or whatever relevant business the organization might have including new elections).

VI. Around the Horn (This is an optional agenda item and is put in many different forms or not at all. It can also be titled final comments. Or it can be titled Announcements. In any case it is used to give members of the organization time to present new subjects, proposals, make announcements or comments. It can get out of control, be used incorrectly to make a meeting too long or to discuss items not on the agenda, this is not the intent of this agenda item and abuse of it should not be allowed.)

VII. Adjournment (This is the final item at which the presiding officer or chair or head of the meeting announces that the meeting is ended and at what time, again for the secretary to record in the minutes.)

There are many variations on agendas, and numbers can used as well as letters. It is like an outline. For effective agenda writing some organizations put times at each agenda number, to help keep the meeting on track, to make sure speakers finish within the assigned times. Sometimes agendas will build in break times and add some extra time at key places near the end to make up for overuns.

While having a plan or outline in place in the form of an agenda gives a leader a very potent tool for chairing the meeting, Roberts Rules of Order is a standard text that explains how to direct the flow of the meeting. It gives examples of motions, amendments, debate, proper order of address, voting and other standard organizational advice. It helps keep things from descending into chaos. It allows everyone the chance to be heard, protects the rights of the minority in any voting debate, and also provides for more efficient meetings.

Minutes are another key part of any organization, as they are the official record of that group. Usually copies of the minutes are provided in writing, which is the record of the previous meetings important votes and usually matches the agenda items. The members vote on the minutes presented making it the official record for legal purposes. This can be important for votes. In some organizations the secretary or an officer might read the minutes aloud in order to bring everyone up to date as well as present them for vote. Members may disagree about the numbers in key votes, or how the record is written, and ask for amendments or changes. The record will be the only thing left to record what actually happened. Minutes are a very important tool for maintaining the integrity of the voting system in an organization. They are also a good refresher and reminder of events. They contain committee reports in many cases as well.

While the character aspects of leaders might vary, the tools for good organization to help a leader maintain order can be very important. Understanding minutes and agendas, and rules of order are key. Using these techniques can help anyone improve the efficiency of their organization as well as sharpen their own leadership skills. These techniques are very practical and while they may not seem glamourous are very effective. Being a true leader takes at least some of the practical foundation to compliment other skills and talents.

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