Pinch Dollars Not Dimes
Instinctively we are constantly looking for ways to cut costs, save here and there and run a tighter than tight ship, all the while conducting our business in an effective and professional way. Sometimes it is not easy but if you want to survive as a business and stay in business this is something we all must do.
Have you herd the phrase “stepping over a dollar to pick up a dime”? Well this saying typifies the plight of many small businesses today. I have consulted with many small business owners and have been a small business owner my self and I know how enticing it can be to try and make your customer base conform to your needs instead of vice versa. Let me give you an example I used to work in a large office with many employees. We started the tradition of all going to lunch together, sometimes choosing the location took longer than the actual act of eating. Many times we would vote unanimously for one of the great mom and pop places that had become a great diversion from typical lunch menus, unfortunately most of the time someone in the group would say I can’t go there because all I have is a card, and they don’t accept them. There were 10 to 12 people all ready and willing to spend money at your place but you ran the numbers and decided you did not need credit card revenue.
We would all like to suppose that our products and services are so superior that we can set the rules. Just remember there are hundreds even thousands of businesses competing for that consumer dollar. Plastic has become the preferred form of payment in the United States and is closing in fast in all other parts of the world. Accepting credit/debit cards is not just important for larger businesses it is most important for the small business. You are establishing a client base, you are setting yourself apart from you competitors, and you are telling every patron or perspective patron that you want their business.
Statistics show that the average person has regular contact with 30 people a week, 30 people that they exert some type of influence over. Whether they may be family, friends co-workers or subordinates. An endorsement or a condemnation coming from this person has a much greater propensity to set the consumer’s mine ether for or against you than does untold dollars spent in advertising.
If you follow this rule of thumb you will most likely come out on top, “never turn down a paying customer”.
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