Little things can make a big difference.
About 4 years ago my brother-in-law gave me a little device called Square that plugs into your smart phone and allows you to accept credit cards. It was a thoughtful little gift. I doubt that I would have tried it out on my own, at least not at that time. Since he bought it for me I felt obligated to set it up.
Turns out it was very easy to set up, the device is free to obtain and it is a huge asset to your business if you don't currently accept credit cards.
Accepting credit cards helps your business look more professional. Being more profssional leads to closing more deals, at higher margins. Accepting credit cards will help your sales and your cash flow...
I remember one Friday where the bank account was dry, the gas tank on low, and the fridge empty. On my way home I received a call for an estimate from a new prospect that was referred to me by an interior designer. Feeling down and not in my optimal Sales Mode, I made the stop at 5:30 more out of desperation than anything else. I had work but my cash flow was in a serious crunch. Long story short...I left that prospect's home 1 hour later with a $4200 deposit for a sweet job. Their preferred method of payment was by credit card as they wouldn't be able to move money around on the weekend. My first use of the Square device was a life saver. I have gone on to use the device to sell more than $25000 worth of work, including some impulse sales where the client only purchased because they could charge.
More and more people want to pay with credit cards for various reasons. One reason is the points they accumulate...our generation is rewarded for and incentivized to spend, unlike the previous generation that was rewarded for saving.
I can't think of one good reason not to accept cards in today's market - there are tools out there to support micro-businesses and level the playing field. Sure, there is a 2.75% fee, but you can find a way to to incorporate that into your business model.
Square is a simple and effective business building tool for micro-business owners.
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It's true - I've had a few customers pay by credit card, and having the Square in my pocket (literally) is very handy. You usually get the money in your account within a day, and like the author says, it can be a huge asset to your business. No monthly fees, either.
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