If you’re trying to work a business angle, that means you’re trying to get paid. But one of the things that can get in the way of a successful business endeavor is if you don’t have convenient ways for clients to give you money for your services rendered. You have to try to make it as easy as possible for clients to provide you with payment. That’s when you have to start looking into options.
You can accept cold hard cash. Maybe you have an electronic payment system set up. You can always get direct PayPal transfers if they have an account. And if you choose to, you can accept checks or money orders. Each of those options has pros and cons as far as set up and convenience go.
Cold Hard Cash
Accepting cash as a business has certain advantages. You don’t have to be connected to the Internet or Wi-Fi to have it work. And some people only do financial transactions with cash. The main difficulties come with the fact that you have to be able to make change, so you have to have dollars and cents on you. And, there’s always the chance that you could lose the money, it can become misplaced somehow, or you can be targeted because people know you have it on you.
Electronic Payment Systems
Many vendors are now using electronic payment systems. These are hardware, software, and application combinations that mean that you can do all sorts of transactions at your point of sale. This is great for mobile vendors. Or, if you have limited space at your shop, you can hook it up to your mobile phone or tablet and have instant and secure financial transaction ability as well. There are several different styles of electronic payment systems available, so pick the one that makes the most sense for your particular situation. You can also use a vendor management software to manage your relationships with vendors, contracts and payments.
Direct PayPal Transfers
If you have a business PayPal account, then you can accept PayPal payments from anyone who has an account set up on their end. This has been the preferred method for lots of vendors over time because it is safe, secure, immediate, and very convenient. After accepting credit cards, the next thing that many businesses do is figure out how to receive PayPal payments for their items.
Check or Money Order
Often, it’s inconvenient for you as a business person to accept a check or money order, but sometimes that’s the only option that certain people have. Though it’s less common to use these two options, by flatly saying that you will not accept these methods of payments, you may be selling yourself short when it comes to getting paid. As a business, you never want to leave money on the table, so recognize that this is a valid option for some people.