Business and making it easy for people to trade with you


You know how it is, you want to buy something but they do not take credit cards, or you have no cash and they only take cash. Infuriating and you feel let down, and dissatisfied with the service. You do not go back!
In Business we need people to find us easy to trade with. A pleasant stress free way to purchase something. So how can we help our customers?
Offer different payment methods:-
Cash. Obviously the easiest, and for you instantly accessible for your needs.
Credit Card. Just about every bank can provide a card service machine/ reader. Yes it costs to set up, and yes you do pay commission on each transaction. Most people pay by card these days, so build the cost into your pricing, either in overall pricing or do what the big boys do put a small cost for the card transaction in your terms and conditions. I prefer to build into price, but no reason why you should not be upfront about a cost. You can even get an app these days!
Debit cards. As above, but next best thing to cash!
BACS transfer. More and more companies are requesting this method as money goes straight to your account, instant!
Standing orders/ direct debits. If you are trading over a period, where you are supplying continuous goods or a service contract, offer the customer the chance to spread the costs. Better to get regular cash flow than wait 3 months or more for the payment. Explain most people pay household bills this way and that way even the pain, plan cash flow better.
New businesses are afraid to go for tenders where it may require, 30, 60 or even 90 days payment terms, but if it is a reputable firm, local authority etc. you could obtain finance on the back of the contract and once first cycle done, you are ok. Simply work out the cost to finance the terms you need to offer.
Hope this helps?
Be flexible. I will write a blog on credit terms and how to manage later in week
To attend one of our Road to Business courses, pleas ring Orvia Group on 01772422242 or ring FYCreatives on 01253 477147. The course is held at FYC 154 Church Street, Blackpool. We do 3 at a day each.
Kind thoughts, Geoff Reeves

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