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October 10, 2019

These Top 7 Invoicing Tools Are Your Answer To Sending Small Business Invoices

There are lots of tasks you have to perform to keep your business operating. Ordering supplies and inventory, marketing to your customers, and — perhaps most importantly — getting paid. Getting paid for your services or products is critical to keeping your business on track. And to get paid, you have to invoice your clients — a task that’s made simple using invoicing software.

Invoicing software allows you to create and send invoices directly to your customers. But today’s software options take things a little further, providing you with a variety of tools that simplify getting paid and running your business. These options include creating estimates and proposals, tracking time and expenses, and integrating with payment gateways, so you’re no longer waiting on a paper check in the mail.

If you’ve explored invoicing software in the past, the many options out there can be overwhelming. That’s why we’ve created this guide. We’ve narrowed down the choices to seven of the best options on the market today. We’ll dissect each option, giving you the most important information, such as pricing and features. We’ll also look at the factors you should consider when making your choice. Invoicing software simplifies invoicing your clients, and this guide is designed to simplify choosing the best software for your business. Let’s get started!

What To Look For In Good Invoicing Software

The good news is that there are lots of invoicing software options on the market. The bad news? Choosing which one is best for your business can be a challenge. While forever-free options and free trials make it easy to shop around, know what to look for before you sign up by considering these factors.

Price: Nothing in life is free…or is it? Fortunately, there are plenty of invoicing software options available at no cost. What’s the catch? It depends on the software. Some software is ad-supported, while others place limitations on the number of clients you invoice or lacks features found in paid options. While free software may work in the beginning stages of your business, you may need a more robust program as your business grows. In this case, an upgrade may be an order. Be aware, however, that if your subscription costs more than $30 per month, there are more affordable options out there. Or you can use those funds to invest in full accounting software instead.
Strong Features:Â Any software you select should have a strong feature set. Specific features that you need vary based on your preferences and the needs of your business. At a minimum, though, every business should look for software that offers powerful security features, good mobile apps, a user-friendly interface, and a well-organized client portal.
Automations:Â Some invoices will need to be sent manually. Others can be sent automatically with software that offers invoice automation, allowing you to set up recurring invoices, send out reminders, and schedule other tasks. The more automations, the more smoothly your business runs, so you can get back to doing what you love most.
Integrations: The software you choose should integrate with third-party apps and software. For example, if you already use bookkeeping or accounting software, look for an invoicing solution that syncs with this software. It’s also important that your chosen software integrates with multiple payment gateways, allowing your customers to pay their invoices online easily.
Good Customer Support:Â There may come a time when you have a question about your software, need troubleshooting advice, or simply want to upgrade your subscription. All of this is made much easier with strong customer support and good customer service. Look for software that offers multiple ways to get in touch, has fast response times, and provides resources to help you get the most out of your software.

Zoho Invoice

Best overall invoicing software for small businesses. Ideal for businesses needing strong features, great invoicing automations, and international invoicing.

Zoho Invoice, introduced in 2008, has grown to become one of the most popular invoice software options on the market today. This cloud-based software offers some great features ideal for small- to medium-sized businesses and offers multiple pricing options, including a free version for business owners on a budget.

In addition to boasting such features as customizable templates and support for multiple languages, Zoho Invoice goes beyond merely invoicing. Through this program, you can create estimates, track time and expenses, manage contacts, and create and manage projects. Zoho Invoice also has a very user-friendly interface and excellent customer support. It should come as no surprise that Zoho Invoice has gotten overall favorable reviews from its users.

There are, however, a few drawbacks, although these are minimal. If you need an extensive inventory tracking system, look elsewhere, as Zoho Invoice only has a basic item list available. This software also falls a little short in terms of integrations, although that number is on the rise. At this time, Zoho Invoice has ten payment gateways and 14 integrations. For most businesses, though, this shouldn’t pose a problem, and the many positive aspects of this software overshadow the few negatives.

Pros

What makes Zoho Invoice’s offerings stand out from other invoicing software solutions? There are quite a few benefits to selecting this software, including:

Unlimited invoices and estimates
16 customizable invoice templates
Cloud-based
Easy to use
Invoicing in 14 languages
Excellent customer support
Well-designed client portal with real-time notifications
Expense and time tracking
30 reports
Exceptional customer support and resources
Multiple mobile apps

Zoho Invoice offers four pricing plans. The Free Plan allows one user to invoice up to five customers at absolutely no cost. For $9 per month, the Basic Plan gives one user the ability to invoice up to 50 customers. Upgrading to the Standard Plan at $19 per month gives access to three users and allows you to invoice up to 500 customers. The Professional Plan costs $29 per month, can be used by up to ten users, and has no limitations on the number of customers that are invoiced.

Invoice Ninja

Best for small businesses that want to save money with free software.

Small business owners — especially new ones — often look for ways to cut expenses. One way is to take advantage of free software, such as the invoicing software offered by Invoice Ninja. Since 2014, over 90,000 small business owners have signed up with Invoice Ninja for its great features at no cost — and no, there isn’t a catch.

This forever-free software boasts features you would find with paid software, including invoices and estimates, time and expense tracking, item lists, contact management, and project management. An especially unique feature is Invoice Ninja’s voice commands, which allows you to send invoices and perform other tasks using your voice. If you need assistance, Invoice Ninja offers multiple ways to get in touch and exceptional customer support. The software has overall received excellent reviews from past and present users.

The free version of Invoice Ninja is best for small businesses and freelancers that serve 100 or fewer customers. If you have more than 100 customers, you will have to upgrade to one of the paid (but still affordable) software options. If you also have more than one user, you will need to upgrade your subscription, as the free version only allows access to a single user.

Pros

Invoice Ninja is one of the top options for forever-free invoicing software. If you need additional features, you can upgrade to one of the paid subscriptions. However, many small businesses will find everything they need with the no-cost plan. All plans include the following benefits:

Unlimited invoices and estimates
Over 40 payment gateways
Excellent customer support
Cloud-based and self-hosted options
Strong mobile apps
Available in 30 languages
Up to 10 invoice templates
Recurring invoices and payment reminders

The Forever Free Plan is truly free and gives you access to all of the previous benefits. This plan allows one user to send invoices to up to 100 customers. If you have more than 100 customers, you can sign up for the Ninja Pro Plan. At $8 per month, you’ll be able to send invoices to unlimited customers. You’ll also have access to additional features, including 13 reports, proposals, and invoices that don’t feature Invoice Ninja branding. This plan is limited to one user only. Pay for ten months, and you’ll receive two months free. You can also take this plan on a test drive with a free 14-day trial.

If you have multiple users, you can sign up for the Enterprise Plan, which starts at $12 per month. Like Ninja Pro, you can pay for ten months and receive two months free. You’ll also receive a 30-day guarantee. This plan supports up to 20 users and offers additional benefits, such as support for third-party attachments and branded client portal links.

FreshBooks

Best for small businesses seeking an all-in-one invoicing and bookkeeping solution.

Freelancers and small business owners that want an invoicing software with bookkeeping options should look no further than FreshBooks. FreshBooks launched in 2003, but the company kept its software fresh with a revamp in 2017. The new version of FreshBooks offers lots of great accounting features, including double-entry accounting, journal entries, and bank reconciliation.Â If that’s more than you need, don’t worry — the old version is still available. FreshBooks Classic is true invoicing software with a few bookkeeping features. This software is a great choice for businesses that need basic bookkeeping and accounting functions but is not suitable for businesses that have more complex accounting needs.

With FreshBooks, you can send unlimited invoices and estimates to your customers. You’ll also be able to complete other tasks critical to your business, including time management, expense management, and project management tools. Depending on the plan you select, you may also be able to use features, such as bank reconciliation, reports, journal entries, and proposals. Both versions of the software are very easy to use, customer service is excellent, and FreshBooks has received mostly positive reviews from its users.

It’s obvious why over 10 million customers have chosen FreshBooks as an invoicing solution, but what’s the catch? Businesses with multiple users won’t find what they need here, as each plan only supports one user. If you have multiple businesses, another software will be a better fit, as FreshBooks doesn’t offer support for more than one business. While there are numerous integrations, FreshBooks only has two payment gateways.

Pros

FreshBooks stands out from its competitors because of its accounting features that you won’t find with other invoicing software. Other benefits of this all-in-one software include:

Unlimited invoices and estimates
Cloud-based
Support for 14 languages
Excellent customer support
Strong mobile apps
Two customizable templates
Up to 11 reports
Over 80 integrations
Recurring invoices and payment reminders

Unlike many of the other software we’ve recommended, FreshBooks does not offer a free plan. However, there are three pricing tiers available to fit your needs best. The Lite Plan is best for freelancers or microbusinesses with five or fewer customers who don’t need double-entry accounting. This plan’s price is $15 per month. The Plus Plan costs $25 per month and allows you to bill up to 50 customers. As a Plus customer, you’ll get even more features, including unlimited proposals, automated payment reminders, and double-entry accounting reports. The Premium Plan will set you back $50 per month but allows you to bill up to 500 customers. Additional team members can be added as users for $10 per person, and payment processing is also available for an additional fee.

If you need a more customized solution, you can inquire about the Select Plan. This plan is for businesses that need to bill more than 500 customers. This plan — which is custom priced based on the needs of your business — also gives you access to a personal account manager, custom training, and other features.

Bill.com

Best for businesses that want a simple, no-fuss solution for managing bills and invoices.

Software that does it all and comes packed with features is great for some businesses. But what if you’d prefer a hassle-free way to simplify bills and invoices? If this sounds familiar, Bill.com may be the right solution for your business. Since 2006, Bill.com has streamlined the process of paying your bills and invoicing your customers. With this software, you can take control of your accounts payable using tools, such as reviewing and approving bills from any device, sending domestic and international payments to vendors and suppliers, and storing invoices, checks, and receipts.

But that’s not all that Bill.com offers. You can also manage your accounts receivables through this software. With Bill.com, getting paid is faster and easier with features, including automated invoices, automated reminders, contact management, and direct payments with ACH, credit card, or PayPal. Bill.com syncs with your accounting software, simplifying the process of reconciling your bank accounts and keeping your books balanced. There are also some features you won’t find with most other invoicing software, such as a customizable chart of accounts.

This software is best for medium- to large-sized businesses that want a more streamlined way to send invoices and pay bills. Small businesses may also benefit if they have a large number of payments and/or invoices. While this software can be a bit pricey, it’s a fraction of the cost of hiring an employee to handle these tasks. However, keep in mind that if you only want invoicing software and have your accounts payable under control, there are more affordable invoicing software options out there.

Pros

If billing and invoicing are slowing down your business, take advantage of all that Bill.com has to offer, including:

Cloud-based
Unlimited document storage
Unlimited users (for an additional cost)
Strong security features
Up to 30 reports
Recurring invoices and payment reminders

There are four pricing plans available through Bill.com. The Essentials plan is the cheapest at $39 per user per month. With this plan, you can choose to manage payables orÂ receivables but not both. The Team plan costs $49 per user per month. This option also only includes payablesÂ orÂ receivables. The difference is that this plan allows you to sync the software with Xero, QuickBooks Pro, QuickBooks Premier, and QuickBooks Online. The third plan allows you to manage both receivablesÂ andÂ payables at the cost of $69 per user per month. This plan includes additional features, such as invoice and payment automation. Finally, you can get a custom quote for the Enterprise plan. It comes with all the features included in the other plans with the addition of advanced features, such as more integrations and API access.

Square Invoices

Best for product-based small businesses that want an easy way to send invoices on the go.

Square has become known for its payment processing services, but in 2014, the company added Square Invoices to the Square Dashboard. When you sign up for a Square account, you automatically have access to Square Invoices as well as other tools for your small business. One of the best things about Square Invoices is that it’s completely free to send invoices to your customers.

Square Invoices is very easy to use and has a well-organized interface. There is just one template for invoices, but it can be customized by changing the colors and adding your logo. Square Invoices is the perfect software for busy entrepreneurs, making it easy to send invoices right from your smartphone or another connected device. In addition to mobile invoicing, Square Invoices has other tools to help you operate and grow your business, such as estimates, contact management, employee management, advanced inventory features, and sales tracking. You can even create contracts and easily attach them to your invoices.

Square Invoices is best for small- and medium-sized product-based businesses. Because of a lack of project management features and advanced invoicing capabilities, it’s not a good fit for service-based or project-based businesses.

Pros

Square is more than just a payment processor. Its invoicing feature and other tools are also beneficial to many businesses. Why should you choose Square? Consider the following benefits:

Unlimited invoices and estimates
Excellent mobile apps
Cloud-based
An easy three-step process to send custom invoices
Recurring invoices and payment reminders
14 reports plus custom reports
Good customer support
Over 100 integrations

To use Square Invoices, you must sign up for a Square account. The good news is that your Square account is free. Sending invoices to your customers is also free. However, if you want to take advantage of some of Square’s other features — such as payment processing, payroll, or advanced employee management — there are additional fees.

Harvest

Best for small businesses that want to manage time, projects, and invoices in one place.

Harvest launched in 2006 with a focus on time tracking. Since it’s launch, the software has evolved to provide additional tools for small businesses. Though its invoicing features are limited when compared to its competitors, Harvest’s time tracking features, basic invoicing, and project management tools are ideal for service-based and project-based businesses.

You won’t find advanced invoicing features with Harvest, but there’s enough to get the job done. In addition to being able to create and send invoices, you can also create and send estimates, track time, set up recurring invoices, create reminders, and manage your employees. Harvest also offers basic expense tracking as well as project management options that allow you to assign projects, set budgets, and track time and expenses.

There are a few drawbacks to be aware of before you sign up. Harvest isn’t a good fit for product-based businesses or any business that needs advanced invoicing features. If you need more advanced accounting features or don’t have much use for the project management tools offered through Harvest, consider shopping around for another software option.

Pros

Why is Harvest on this list? In addition to being a great choice for project-based and service-based businesses, here are more reasons why you should consider using this software:

Unlimited invoices
Unlimited estimates (paid plan only)
Cloud-based
Unlimited clients
Over 90 integrations
Good customer support
Strong security features

Harvest offers two plans. The first is the Free Plan, which doesn’t cost a dime. This plan allows one user to manage up to two projects and gives access to all of the other great features. If you need to add more users or projects, you can sign up for Harvest Pro, which costs $12 per user per month. With this plan, you can manage unlimited projects as well as take advantage of Harvest’s other features. Harvest offers several discounts for Pro members, including 10% off when you pay annually and 15% off for nonprofits. You can also give Pro a try with a 30-day free trial.

Invoice2go

Best for creating and sending invoices through mobile devices.

Most business owners aren’t just sitting behind a desktop computer anymore. Today’s busy entrepreneurs are relying more and more on mobile devices to keep in contact with vendors and clients, collaborate with team members, and even send invoices. If you’re one of the people that prefers using your smartphone to conduct business, Invoice2go can help simplify sending invoices and getting paid by your customers.

Invoice2go features strong Android and iPhone apps that make it easier than ever to create customized professional invoices on the go. Setting up and using the software is simple, allowing you to send your first invoice in just minutes. Invoice2go offers additional features as well, such as expense tracking, invoice templates, estimates, time tracking, and purchase order management. You can send invoices in a variety of ways, including SMS and mobile apps. Cloud-based desktop software is also available if you prefer to go that route.

On the downside, though, Invoice2go — as the name implies — focuses primarily on invoicing. If you need more advanced bookkeeping and accounting features, another option will better suit your needs. If you don’t primarily use your mobile device for business purposes, Invoice2go likely won’t be a good fit for your business. Another downside is the limitations placed on the less-expensive subscription plans, which we’ll discuss in detail in just a moment.

Pros

Considering Invoice2go as your invoicing software? There are many reasons why you should choose this option, including:

Strong mobile apps
Good customer service
Unlimited storage
Easy to use
13 reports
Good customer service

There are several plans to choose from if you select Invoice2go as your invoicing solution. The Standard Plan allows you to send up to 200 invoices and 200 estimates per month. One user can use the software, and up to 25 clients can be added. The Standard Plan costs $9.99 per month. For $19.99 per month, you can sign up for the Advanced Plan, which allows you to send up to 400 invoices and 400 estimates per month. Two users are included in this plan, and you can add up to 100 clients. This plan also gives you access to appointments. The Unlimited Plan, at the cost of $33.99 per month, lives up to its name by allowing you to send unlimited invoices and estimates and store an unlimited number of clients. This plan gives access to five users and includes recurring invoices and payment receipts. All plans are billed annually. A 14-day free trial is available, and Invoice2go offers a 30-day money-back guarantee.

Choosing The Best Invoicing Software For Your Business

Choosing the right invoicing software can be a hassle, but there are a few things to keep in mind to help narrow down your choices. Start with the options in this post and compare pricing, features, and other factors to find software that works for your business. Don’t be afraid to shop around and even test out a few options before making your final decision. When testing out software, look for options that offer free plans or free trials, so you can fully explore the software before making an investment. If the software you test lags, is difficult to use, or it doesn’t offer the features you need, move on to another option until you find your perfect match. Your ideal match should have the features you need and make sending your invoices a breeze.

The post These Top 7 Invoicing Tools Are Your Answer To Sending Small Business Invoices appeared first on Merchant Maverick.

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October 8, 2019

The Truth About Third-Party Payment Processing

So, youâre all set to launch your new business and make your fortune (well, hopefully). You realize that it would be nice if your customers could pay you using their credit and debit cards. Okay, âniceâ isnât nearly a strong enough word to describe how desirable this option is. In todayâs increasingly cashless society, itâs flat-out essential for most businesses to be able to accept credit cards. Without that ability, retail companies will lose out on sales, and eCommerce businesses will have a hard time making any sales at all.

You realize that youâre going to need a merchant account to process your credit and debit card transactions. But where do you find one? Every provider you talk to wants a ton of information about your business, tells you that they have the lowest rates (without mentioning what they are), and tries to pressure you into signing a lengthy contract before youâve even had a chance to read it. Then you hear about Square (see our review). No lengthy contracts. No endless forms to fill out. No monthly fees. Rates that are published right on their website. What kind of black magic is this? It all seems too good to be true.

Square â and other companies like it â are what are known as third-party processors. Rather than giving you your own merchant account, they oversee a giant merchant account thatâs shared by all their users. In this article, weâll explain how third-party processors work and how they differ from traditional merchant account providers. Weâll also explain the advantages and disadvantages of using a third-party processor rather than signing up for a full-service merchant account. Finally, weâll give you some examples of popular third-party processors that are helping businesses just like yours every day.

How Third-Party Payment Processing Works

First, letâs discuss nomenclature for a moment. The credit card processing industry is notorious for using different, non-standardized terminology to describe the various entities youâll encounter when you set up a merchant account for your business. While there often isnât a single, âcorrectâ term that must be used, youâll find certain terms are more commonly used than others.

The most broadly-defined term you need to know is merchant services provider. This is any business entity that can help you process credit or debit card transactions â regardless of how they do it. Breaking this down a little more, there are two types of merchant services providers:

Merchant Account Providers (MAPs):Â These companies will set you up with a traditional, full-service merchant account. Your account will include a unique merchant identification number that identifies your business to the payment processing networks. There are dozens â if not hundreds â of merchant account providers on the market, many of whom are resellers for a small group of very large direct processors. Examples include Payment Depot and Fattmerchant.

Payment Depot

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Payment Service Providers (PSPs):Â These companies provide you with the ability to accept credit and debit card payments, but donât offer a true merchant account with a unique merchant identification number. Instead, your account will be aggregated with that of other businesses using their service. Although there are relatively few PSPs in the industry, theyâve garnered a large share of the processing market in recent years by offering a low-cost solution to small business owners. Examples include Square, PayPal, and Stripe Payments.

Square

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While the term merchant account provider is very commonly used, things get a little fuzzy when it comes to payment service providers (PSPs). Although both Visa and Mastercard officially use the term payment service provider, youâll also commonly hear them called third-party processors, aggregators, and even payment facilitators. You just need to understand that all these terms refer to the same thing: a company that can allow you to process credit and debit card transactions without the need for a full-service merchant account. For a more in-depth look at payment service providers and how they operate, check out our article, What Is A Payment Service Provider?.

Third-Party Processors VS Merchant Accounts

Before you decide that a third-party processor is a good choice for your business, you need to understand how they differ from traditional merchant account providers. Hereâs a rundown of the main differences youâll encounter between these two types of business entities:

Simplified Underwriting: Traditional merchant account providers need to collect an extensive amount of information about your business before they can approve you for an account. This process can take several days â or even weeks. Third-party processors already have an aggregated merchant account that you can be added to, so they donât need nearly as much information upfront. They can usually approve you in fewer than 24 hours, and in many cases, the application process can be completed entirely online. For this reason, third-party processors are often a great choice for new businesses that donât have an established processing history yet.
Account Stability:Â The downside to quick and easy approval is that itâs just as easy for your account to be shut down. Square, in particular, has a bad reputation when it comes to account stability. Account holds, freezes, and terminations can happen unexpectedly for a number of reasons. Perhaps the most common cause is when a business attempts to process a single transaction thatâs much larger than what theyâve averaged previously. Similarly, Square will shut you down quickly if they determine that youâre a high-risk merchant.
No Long-Term Contracts: While your relationship with your processor will always be governed by a contract of some type, Square and other third-party processors don’t require you to keep your account open for a specified length of time. Merchant account providers, in contrast, frequently require you to accept a long-term contract (typically for three years) with an automatic renewal clause that extends your contract for one-year periods and an early termination fee (ETF) that youâll have to pay if you break your contract by closing your account early. While these provisions are more or less the industry standard, theyâre very unpopular with merchants. As a result, there is a growing number of merchant account providers who have ditched the long-term contracts and allow you to maintain your account on a month-to-month basis.
Pay-As-You-Go Billing:Â Unlike merchant account providers, who typically charge a number of monthly and annual fees in addition to your processing charges, third-party providers usually only charge you for the cost of processing your transactions. You usually wonât have to pay a monthly account fee, an annual fee, PCI compliance fees, or gateway fees. The tradeoff is that your processing rates will usually be significantly higher overall than what youâd pay under an interchange-plus pricing plan offered by a traditional merchant account provider.
Simplified Processing Rates: Most third-party processors offer simplified,Â flat-rate pricing for processing your transactions. Everyone pays the same rates, and theyâre published right on the providerâs website. This makes it much easier to know in advance what your overall costs will be so that you wonât get hit with any sudden surprises on your monthly billing statement. However, you should be aware that flat-rate pricing rates are notably higher than most interchange-plus rates, particularly for PIN debit transactions. At higher monthly processing volumes, this can actually make using a third-party processor more expensive than a traditional merchant account.
Customer Service Options:Â Third-party processors arenât known for offering a full range of ways to contact customer service. Instead, youâll often find yourself rummaging through an FAQ on their website or trying to contact them via email. This situation is gradually getting better, with some third-party processors now offering telephone-based customer support where you can talk to an actual human being.

As weâve noted previously, both third-party processors (or payment service providers) and traditional merchant account providers fall under the term âmerchant services providers,â as theyâre both able to process your transactions and deliver the funds from those transactions to you. However, itâs essential to consider the differences between these two types of entities and to understand how those differences could affect your particular business.

Can I Really Accept Credit Card Payments Without A Merchant Account?

The upshot of the above discussion is that, yes, you can take credit and debit cards without having to sign up for a full-service merchant account. Third-party processors such as Square or PayPal give you the ability to process these types of transactions without the expense and paperwork of setting up a merchant account. For a new business thatâs just getting off the ground, this can be a great option. Youâll save money on fees, and youâll be able to start taking credit card payments much quicker than if you had to go through the full underwriting process that getting a merchant account requires.

However â and we canât emphasize this point enough â third-party processors are not the best choice for every business. Both third-party processors and full-service merchant accounts have their good and bad points, and you need to understand them and determine how they affect your business before deciding on which type of payment processor to use. Below, weâll discuss the advantages and disadvantages of third-party processors, and how you can evaluate which kind of processor is right for your business.

Advantages of Third-Party Payment Processing

Hereâs a look at the benefits of using a third-party processor for your business:

Quick Setup:Â Square and other third-party processors allow you to sign up for an account online, and youâll usually be approved in little or no time. Just download the Square app and log in, and you can start accepting cards instantly. (Note that youâll need to wait for your card reader to arrive in the mail before you can accept card-present transactions.) This feature is in marked contrast to the underwriting procedure that a merchant account requires, which can take days or even weeks to complete. The flip side is that your account wonât be as stable as a true merchant account, and youâll have to be very careful to avoid any account holds, freezes, or terminations.
Technology-Driven Platforms: In our experience, there is a fundamental cultural rift between third-party processors and traditional merchant account providers. Third-party processors tend to be established and run by people with computer science degrees and deep tech backgrounds. Merchant account providers, however, are usually run by bankers with business degrees who arenât really experts in modern computer technology. While they offer most of the same software products (such as payment gateways, virtual terminals, etc.) as third-party processors, they often rely on outside contractors to develop them, as they donât have the same level of in-house expertise that youâd find with a third-party processor. This rift is slowly closing, but for now, youâll still find that third-party processors offer products that are more automated, more integrated into cloud-based platforms, and more feature-rich than what most merchant account providers can give you.
Low (Or No) Initial Setup Costs:Â If you just need a payment gateway or a magstripe-only card reader for your smartphone, account setup with Square is essentially free. Although we highly encourage you to part with a few dollars and purchase the companyâs EMV card reader, this cost is still a fraction of what youâll pay to get started with a full-service merchant account. Application fees, account setup fees, and paying for a credit card terminal can all add up to hundreds of dollars, depending on the provider. Fortunately, competition from third-party processors is forcing merchant account providers to lower (or even eliminate) many of the costs associated with establishing a merchant account.
No Monthly Fees:Â Perhaps the most attractive feature of third-party processors to small business owners is that they (usually) donât charge any monthly fees to maintain your account. Monthly account fees, statement fees, PCI compliance fees, and annual fees are all eliminated. You also wonât have a monthly minimum hanging over your head every month. This makes third-party processors particularly affordable to very small businesses that donât have a high monthly processing volume. Also, seasonal companies wonât have to worry about being charged during the months when theyâre not operating at all.
Predictable Flat-Rate Pricing:Â Itâs nice to know in advance what it will cost you to process a transaction, and third-party processors make this easy to do with their simple flat-rate pricing plans. With this type of pricing, you can also more accurately estimate your monthly processing costs, meaning that you shouldnât have any unpleasant surprises waiting for you on your monthly processing statement.
No Long-Term Contracts:Â Third-party processors only charge you for actually using your account, and you wonât be locked into a lengthy contract. You also wonât have to worry about getting hit with an early termination fee if you close your account. Note that an increasing number of traditional merchant account providers are now beginning to offer this feature as well, so you donât necessarily have to sign up with a third-party processor to avoid getting locked into a long-term contract anymore.
Free Hardware: When Square first launched in 2009, one of its most attractive features was that each account came with a free magstripe card reader that plugged into your smartphone or tablet. Together with the Square app (also free), you could log in and start accepting credit card payments right away. In contrast, most merchant account providers at the time would either sell you a credit card terminal for a few hundred dollars or sign you up for an expensive terminal lease that would ultimately cost you even more. While Squareâs magstripe reader is still free, itâs also obsolete. We highly recommend purchasing the companyâs EMV-capable reader, which costs far less than a standalone terminal.

Disadvantages of Third-Party Payment Processing

Okay, if third-party processors are so great, why isnât everyone using them? Why are full-service merchant account providers still in business? The answer, of course, is that third-party processors also come with some significant limitations that make them a poor choice for a lot of businesses. Before you rush out to sign up for your âfreeâ third-party account, consider some of the following disadvantages:

Account Stability Issues:Â Not having to go through the complete underwriting process makes it quicker and easier to get up and running, but it also means that your account isnât as secure as an individual merchant account. While having a full-service merchant account doesnât provide complete protection from account holds, freezes, and terminations, it does make them much less likely. Consider the potential impact of an account freeze on your business before you sign up with a third-party processor. In our experience, these unfortunate incidents usually occur because either (1) the merchant attempted to process a much larger transaction than their average ticket size, or (2) the processor discovered that the merchant was selling something thatâs expressly prohibited by their user agreement. This includes most high-risk businesses, including CBD merchants.
No Specified Processing Limits:Â With a full-service merchant account provider, youâll be required to stay within maximum monthly processing limits and maximum transaction sizes. Third-party processors, unfortunately, tend not to specify what these limits are in advance. Youâll only find out that youâve gone over a limit when you actually exceed it and suddenly have your account shut down. While the majority of merchants using third-party processors never experience this problem, itâs still important to consider it before you sign up.
Limited Acceptance For Specialized Cards:Â Third-party processors generally donât allow you to accept specialized cards such as SNAP/EBT cards or government-issued credit cards. Debit cards are generally accepted, but youâll pay much higher processing rates than you would under an interchange-plus pricing plan offered by a traditional merchant account provider.
Limited Hardware/Software Options:Â With so many credit card terminals, POS systems, payment gateways, and online shopping carts on the market, traditional merchant account providers go to great lengths to ensure that their accounts are compatible with as many of these products as possible. With a third-party processor, youâll usually be limited to using just the hardware and software products that your processor offers â and these are often pretty generic. This might not be much of an issue for a small business owner, but as your business grows, youâll eventually want to add many of the bells and whistles that are available with a full-service merchant account provider.
Expensive Flat-Rate Pricing:Â Wait a minute. Didnât we just say that third-party processors were less costly than full-service merchant accounts? Well, thatâs only true in some circumstances. For a very small business owner, youâll usually save money with a third-party processor because you wonât have to pay all the extra monthly and annual fees that come with a full-service merchant account. However, flat-rate pricing is significantly more expensive than interchange-plus pricing, at least on a per-transaction basis. Debit card transactions, in particular, are dirt cheap under interchange-plus pricing. With a flat-rate pricing plan, however, youâll pay the same high rates for debit cards as you will for credit cards. Youâll want to carefully analyze your overall costs under each type of pricing before deciding which option is best for your business.
Limited Customer Service Options: Square â like many other third-party processors â is notorious for offering limited options for customer support. For a long time, Square didnât even have a phone number that you could call for help! Customer support was often limited to email, which was slow and required a lot of back-and-forth messages to resolve an issue. Merchant account providers, however, usually offer 24/7 telephone support. Unfortunately, the quality of that support can vary widely from one provider to another.

Is Third-Party Payment Processing Right For Me?

By now, it should be quite clear that the choice between a third-party processor and a traditional merchant account will depend on the nature and size of your business. There isnât a single provider on the market that offers a true âone size fits allâ service thatâs suitable for every business. Third-party processors are usually a great choice for very small or seasonal businesses that donât process a lot of credit card transactions, donât have a high monthly processing volume, and donât need any of the fancier bells and whistles that are available with a merchant account.

Ultimately, your overall processing costs will determine whether you should sign up with a third-party processor or go all-in with your own merchant account. Whichever option meets your needs for the lowest cost will, naturally, be the best choice. Unfortunately, it isnât always easy to accurately determine which option will save you the most money. As a very general rule, we usually recommend third-party processors to small businesses and merchants who are just starting out. In contrast, larger, more established businesses will usually save money with a traditional merchant account.

Typically, the single most important factor in making this determination is your monthly processing volume. Unfortunately, there are so many variables involved that we canât provide a specific amount where it makes sense to upgrade to a full-service merchant account. Weâve seen figures from vendors ranging from as low as $1,500 per month to as high as $10,000 per month. The important thing to understand is that this number is highly variable and unique to your business. Youâll have to compare quotes from several merchant account providers and compare them against what youâre currently paying to figure out whoâs offering the best deal. To make this process as simple and accurate as possible, we recommend our Merchant Account Cost Analysis Workbook, which includes spreadsheets to help you automatically compare rate quotes.

Lastly, choosing between a third-party processor and a merchant account isnât entirely a matter of dollars and cents. Sometimes, itâs worth paying a little extra for things like better customer support or more fully featured software. While costs are always going to be important, we recommend that you consider the overall value you receive in choosing a provider. Good luck!

The post The Truth About Third-Party Payment Processing appeared first on Merchant Maverick.

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October 7, 2019

The Complete Guide To Secured Business Lines Of Credit

If you’re like most small business owners, you’ve likely encountered a financial challenge or two. You know how it goes — a slow season has impacted your cash flow, an emergency expense has put you in a bind, or you need some extra cash to expand your business. If this sounds familiar, a flexible form of financing that gives you on-demand access to cash could help you weather through these tough financial times. One option to consider is a secured business line of credit.

Before you apply for a secured line of credit, it’s important to understand exactly what you’re getting into. In this post, we’re going to explore secured lines of credit and how they can benefit your business. We’ll also look at the drawbacks of this type of business funding, what you should know before you apply, and where to find the line of credit that’s right for your business. Read on to find out if a line of credit can help you overcome your capital challenges.

How Secured Business Lines Of Credit Work

Unlike a traditional loan that provides you with a lump sum of cash, a business line of credit gives you more flexibility and access to the capital you need when you need it. A lender assigns you a credit limit, similar to a credit card. Instead of swiping a plastic card, though, you make draws from your line of credit. In other words, funds from your assigned credit limit are transferred to your business bank account.

You can draw as much or as little cash as you need. You can also make multiple draws. The only caveat is that you can only draw up to your assigned credit limit.

The funds from your business line of credit can be used for nearly any purpose, from covering operational expenses to purchasing inventory or equipment, hiring employees, or paying an emergency expense. After using your line of credit, you’ll begin to pay the lender back the borrowed funds plus additional fees and/or interest. You only pay interest on the amount that you borrow.

What happens after you begin making payments depends on whether you have a revolving or non-revolving line of credit. If you have a revolving line, funds will be replenished as you pay down your balance. If the line of credit is non-revolving, you’ll be able to draw up to your assigned credit limit. Once that limit is reached, the lender will close your account.

When you apply for a secured line of credit, this means that a specific asset is used as collateral. While we’ll go into more detail about this a little later in this post, this simply means that a business asset is used to secure the loan. If you do not pay back borrowed funds as agreed, the lender has the right to seize the asset in order to recoup the lost funds.

Assets Used To Secure A Line Of Credit

We’ve already established that a secured line of credit is backed by specific collateral. Typically, this is a business asset that can be seized if you default on your agreement with the lender, although personal assets may be acceptable by some lenders. There are a few different types of assets that can be used to secure a business line of credit. This includes:

Accounts receivables
Commercial real estate
Land
Buildings
Equipment
Inventory
Fixtures
Personal real estate & other personal assets

The collateral requirements for a secured line of credit vary by factors including the policies of the lender, your personal credit score, and the maximum borrowing amount.

Secured Or Unsecured: Which Is Better?

When you apply for a line of credit, some lenders offer secured lines, while others offer unsecured lines. An unsecured line does not require specific collateral but typically requires a personal guarantee or UCC blanket lien.

So, which option is the better choice? What may be right for one business might not be the best choice for yours. There are a few factors to take into consideration as to which is the best choice for your specific situation.

First, take your credit score into consideration. If you have a low credit score or negative marks on your credit report, you may not qualify for an unsecured loan. However, by putting up specific collateral to secure your loan, this takes some of the risk off the lender. In turn, you may be more likely to qualify for a secured line of credit.

Because your specific collateral takes some of the risk off the lender, you may also qualify for lower interest rates when receiving a secured line of credit. However, you should note that other factors may affect your interest rate, including your personal credit score, time in business, and annual revenue.

Opening a secured line of credit typically allows you access to a higher credit limit. Again, it all goes back to risk for the borrower. If your line of credit is secured with a tangible asset, lenders feel more confident in setting higher maximum borrowing limits.

Another advantage of secured lines of credit is that the application process is typically fast and easy. You’ll often find that there are fewer documentation and borrowing requirements with a secured line of credit when compared to its unsecured counterpart.

If you have a solid credit score and don’t want to put your assets on the line, an unsecured line of credit may be a better option. This also works for borrowers that do not have assets to secure a line of credit. However, if you do pursue an unsecured line of credit, make sure that you understand the terms of borrowing. As previously mentioned, most lenders require a blanket lien or personal guarantee before issuing an unsecured line of credit.

Is A Secured Line Of Credit Right For Your Business?

If you want continuous access to capital to cover operational expenses or grow your business, a secured line of credit may be right for you. Lines of credit work for nearly any types of business and can be used for nearly any purpose. Lines of credit are specifically useful when it comes to recurring expenses (such as the purchase of inventory or supplies, or for use as working capital) or unexpected emergencies.

Any business that seeks a secured line of credit should have sufficient assets to secure the loan. In addition, the borrower must meet all additional requirements. This includes personal credit score, business credit score, time in business, and annual revenues. Additionally, some lenders also have restrictions against specific industries.

In some cases, you may be able to score a secured line of credit even with a low credit score. However, you may face higher rates and less favorable terms, as well as be required to put up more collateral to secure the funding.

How To Get A Secured Business Line Of Credit

If you’ve made it this far and a secured business line of credit seems like a good fit for your business, the next step is to find your lender. Unsure of where to start? Keep reading to learn more about finding your secured line of credit.

Where To Get A Secured Credit Line

There are three types of lenders that offer secured business lines of credit: banks, credit unions, and alternative lenders.

If you have an existing relationship with a bank, start here when seeking a secured line of credit. Often, banks have the most favorable and flexible terms and offer high credit limits. However, banks also have the strictest borrowing requirements. A solid personal credit history, a longer time in business (typically 2 years or longer), and higher annual revenues may be required for your business to qualify. If you fall short on these requirements, you may still receive funding provided you offer up enough collateral.

Secured lines of credit are also available through many credit unions. Like banks, credit unions typically offer very competitive rates and terms on their lines of credit. However, you must meet all borrowing requirements, which can be quite strict. You also must be a member of the credit union in order to qualify.

Finally, you can turn to an alternative lender to get your line of credit. There are several advantages to using an alternative lender. This includes easy online application processes, fast time to funding (in some cases, just minutes after submitting your application), and fewer borrowing requirements. Some alternative lenders don’t even require a high personal credit score and will offer you a line of credit based on your collateral and the performance of your business. On the downside, though, alternative lenders may have higher interest rates and additional fees that drive up the overall cost of borrowing.

What You Need To Apply

Once you’ve found a lender and have confirmed that you meet all requirements, it’s time to fill out your application and submit supporting documentation. While the application process varies by lender, there are a few general requirements to know that can help you prepare in advance.

When you fill out your application, you will need to provide general information about yourself and your business. This includes but is not limited to:

Your legal name
Name of your business
Personal contact information
Business contact information
Time in business
Annual revenue

You may also be required to provide documentation to your lender before receiving a line of credit. Some common requirements include:

Copy of driver’s license
Articles of incorporation or other proof of ownership
Business bank statements
Voided check
Profit & loss statements
Balance sheets
Business and/or personal tax returns

Finally, you will need to provide information verifying the collateral that will be used to secure the loan. This includes appraisals and proof of ownership. There may be additional requirements based on the policies of your chosen lender.

Final Thoughts

The flexibility and easy access to funding provided through a secured line of credit make it a popular option for business owners that need capital to operate or grow their businesses. However, it is important to remember that there are some drawbacks associated with a secured line of credit — it can be expensive, terms may not be as favorable as long-term financial products, and your assets are at risk if your business goes under.

It is up to you to determine if a secured line of credit is the next step for your business. Evaluate the pros and cons, compare options, and determine how additional capital could boost your business. Ready to take the next step? Check out our post, The Best Business Lines Of Credit For 2019, to start exploring your options. Good luck!

The post The Complete Guide To Secured Business Lines Of Credit appeared first on Merchant Maverick.

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October 5, 2019

Cash VS Accrual Accounting: Which Is Better For Your Business?

When you start your own business, there’s a long checklist of things you have to do in the beginning stages. Business plan written? Check. Advertising to customers? Check. Inventory in stock? Check. Accounting method selected? Wait, stop right there.

Accounting is one of the most important aspects of your business. With good accounting, you’ll be able to track the revenue and expenses of your business. Accounting helps you assess how your business is doing, and it simplifies filing your income taxes each year. In other words, accounting for your business isn’t just an option — it’s a necessity.

But what if you don’t know the first thing about accounting? Luckily, you don’t have to have a degree in accounting hanging on your office wall to get the basics. Even new business owners that don’t have the money to hire a dedicated accountant or bookkeeper can keep up with the books using the latest accounting software.

But before you start shopping for software options, there’s one critical decision you need to make for your business: will you use cash-basis or accrual accounting?

Unsure of what these terms mean? Then you’re in the right place. In this article, we’re going to look at the two major methods of accounting. We’ll dive into the benefits and drawbacks of each, the factors to consider before making your selection, and even a few software recommendations based on the method that you’ve chosen. Read on to find out more about these two methods and which is the right choice for your business.

What Is Cash-Basis Accounting?

The first accounting method we’re going to discuss is cash-basis accounting, also known simply as cash accounting. With cash-basis accounting, transactions are recorded when revenue has been received and expenses have been paid. Cash-basis accounting does not use accounts payable or accounts receivable. Instead, these transactions are only recorded when the cash changes hands.

Let’s simplify this concept with an example. Suppose your business has received $5,000 in payments from customers, and you have $2,000 in unpaid invoices. You have already paid $1,000 in expenses for this month. However, you have a bill from your supplier that is $500 that you haven’t yet paid.

Using cash-basis accounting, you would record the transactions for all payments you’ve received ($5,000). You would also record all expenses that have already been paid ($1,000). The unpaid invoices ($2,000) and unpaid expenses ($500) would not be recorded until they were paid. This would show that we had a total profit of $4,000.

A little later in this article, we’ll use this same example to see how the numbers change when using the accrual method.

The Advantages Of Cash-Basis Accounting

When deciding which accounting method to use in your business, you’ll want to fully evaluate the advantages and disadvantages of each. There are several benefits to using cash-basis accounting, including:

Tax Advantages:Â One of the major benefits of using the cash-basis method is that you won’t have to pay taxes on revenue that hasn’t been received by the end of the year. Instead, you would pay taxes on the income the following year after payments have been received.
Simplicity:Â This method of accounting is fairly uncomplicated, which could benefit a small business owner with a lack of accounting experience.
Current Cash Flow: Cash-basis accounting gives you a more accurate picture of your current cash flow. This method allows you to see exactly how much cash you have on-hand at this point in time.

The Disadvantages Of Cash-Basis Accounting

Of course, we can’t talk about the benefits without looking at the drawbacks of cash-basis accounting. The disadvantages of using this accounting method in your business include:

Tracking Accounts Payable/Accounts Receivable:Â The cash-basis method doesn’t track accounts payable and accounts receiveable. While this does save time in recording transactions, it can also be easy to lose track of who you owe money to … and who owes money to you. If you use this accounting method, you have to have some type of system in place to ensure that you’re collecting the money that’s owed to you and paying what you owe in a timely manner.
Higher Risk Of Errors:Â While cash-basis accounting may be easier, there is a higher chance that errors will be made. The double-entry system used with accrual accounting makes it easier to catch and correct errors. Learn more about double-entry accounting and its benefits.
No Long-Term View: Cash-basis accounting gives you an accurate picture of your company’s finances in the here and now, but it doesn’t provide an accurate view of your financial health over the long term. Let’s say you have a lot of cash on hand now. While this looks good for your business, further analysis could show that all of your customers have paid, you have many unpaid expenses, and business has been slow. In other words, things look good now, but they may not stay that way.
IRS Restrictions:Â Not all businesses can use this method of accounting. According to the Internal Revenue Service, businesses with over $25 million in revenue over the last three years must use the accrual method of accounting.

What Is Accrual Accounting?

The other method to consider for your business is accrual accounting, which is the more commonly used accounting method among business owners and is generally more recommended by accountants. When your business uses the accrual method, transactions are recorded when they occur. When a job is completed for a customer, for example, the transaction is recorded whether or not the customer has paid. If your business receives a bill from a vendor, this expense is recorded even if you aren’t paying it immediately.

These transactions are posted as accounts payable and accounts receivable.

Accounts Payable: Accounts payable are expenses that your business owes but hasn’t yet paid.
Accounts Payable: Accounts receivable is revenue that you’ve earned but haven’t yet been paid.

Now, let’s go back to the example we used for cash-basis account to show how accrual accounting works. Your business has received $5,000 from customers this month. You have an additional $2,000 in unpaid customer invoices. Your paid expenses for the month are $1,000. You have unpaid expenses totaling $500.

Unlike cash-basis accounting, if you were using the accrual system, all of these transactions would be recorded right away. If you wanted to calculate your profit or loss for this time period, you would first add all of your earned revenue — whether you’ve received payment or not. Adding the $5,000 you’ve received with the $2,000 in accounts receivable would give you a total of $7,000.

From this number, you would subtract your expenses, whether or not they have been paid. You would subtract $1,000 in paid expenses and $500 in unpaid expenses from your total revenue of $7,000. This would reflect a profit of $5,500 — quite different from the $4,000 profit we calculated using the cash-basis method.

The Advantages Of Accrual Accounting

Why would you choose accrual as the accounting method for your business? There are a number of advantages:

Fewer Errors: The accrual method uses double-entry accounting. This means that every transaction is posted to at least two accounts, keeping your books balanced. While double-entry accounting is more time-consuming, it does make it easier to spot and correct accounting errors.
Long-Term Cash Flow: While cash accounting might be better for gauging your current cash, accrual accounting gives you a clearer picture of the long-term cash flow of your business. This is a tremendous asset for budgeting, planning, and decision-making.
Obtaining & Tracking Funding: Whether you’re seeking investors or a loan from a bank, the accrual method of accounting allows you to run statements that give a better picture of your company’s future, which could improve your chances of getting a loan. For investors and lenders, this shows if your company is a risk and could be a factor in determining if you’re getting funded. After you receive a loan, credit account, or other form of financing, using the accrual method will also make it easier to track these accounts.

The Disadvantages Of Accrual Accounting

Accrual accounting has several big advantages for your businesses, but there are also a few drawbacks to keep in mind:

More Complicated: Accrual accounting uses double-entry accounting, which we’ve already established has its benefits. However, this does make it more complicated and time-consuming than cash-basis accounting. Fortunately, though, there are plenty of good accounting software options available that eliminate the need for manual calculations, in most cases.
Tax Implications: When you use the accrual method, all earned income is recorded. Some of this income may not have been received yet, but it will still be reported on your tax return. For example, if you have $5,000 in unpaid invoices at the end of 2019, these earnings are recorded in your accounting software and reported on your taxes for 2019, even if you don’t actually receive the money until 2020.
Current Cash Flow: Accrual accounting gives you a great overview of your business finances over the long term. However, it doesn’t give you a good picture of your cash flow at this moment. For instance, your books may show that you have quite a bit of money, but some of this could be money that has been earned but not yet received. When using the accrual method, you must keep track of cash to know how much money you have on-hand in the present.

Which Accounting Method Is Right For My Business?

By this point, you should have an understanding of the two accounting methods. Even though we’ve gone over the pros and cons of each, you may still be on the fence when it comes to choosing the right method for your business. If you’re still feeling unsure, consider these factors and situations to help you make the best decision for your business.

Factors To Consider

When determining which method is right for your business, keep the following factors in mind:

Future Funding

If one of the goals of your business this year is to seek funding, investors and lenders generally want to see numbers that reflect the long-term financial health of your business. This is more accurately reflected when the accrual method is used. Furthermore, using the accrual method makes it easier to track what you owe to creditors and lenders.

Customer Credit

If you extend credit to many customers and/or send invoices to customers, the accrual method will help you accurately track what you are owed as accounts receivables.

Filing Tax Returns

Choosing the cash-basis accounting method does have some tax advantages. For example, if you’re a small business with many unpaid invoices at the end of the year and you use the accrual method, having to pay taxes on this income that hasn’t been received could negatively affect your cash flow.

Size Of Your Business

If you own a small and simple business without too many customers, the cash-basis method could work for you. However, if you have a very large business with many customers and complex transactions, the accrual method is typically a better fit for your business.

Monitoring Cash Flow

If one of your most important goals is to monitor how much cash you have on-hand in the present, stick with cash-basis accounting. If you would rather have a long-term overview of the cash flow of your business, choose the accrual method.

When To Use Cash-Basis Accounting

Cash-basis accounting is best for small businesses, sole proprietors, and freelancers that want a simple way to track income and expenses. This type of accounting is best for cash-based businesses, businesses that do not keep inventory, and smaller service companies.

If cash-basis accounting is what you choose for your business, there are plenty of great software options available. One important thing to note, however, is that some software programs may say they offer cash-basis accounting, but in reality, they just offer the ability to run reports as cash-basis. If you want a cloud-based option that allows you to track your finances using the cash-basis system, QuickBooks Online is one of the most popular choices among business owners and entrepreneurs. Want to take your accounting offline? QuickBooks Desktop is another solid option to consider.

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When To Use Accrual Accounting

Most small businesses opt to use accrual accounting — and most accountants recommend accrual over cash accounting. Although it is more time-consuming and complex than cash-basis accounting, the good news is that there are plenty of software options that simplify the process. While you do have to learn and understand the program you choose and manually enter some data, today’s accounting software offers a variety of features, such as automatic bank reconciliation, receipt scanning, recurring invoices, and payment reminders.

As previously mentioned, there are some businesses that don’t need to use accrual accounting. Small service-based businesses, businesses that primarily operate on a cash-basis, businesses that don’t have inventory or extend credit to customers, freelancers, and independent contractors may find that cash-basis accounting best suits their needs.

Even if this sounds like you, as your business grows, you’ll want to consider the benefits of accrual accounting. Or maybe you’re already there. If so, your next step is to find the right software for your business. Some of the most popular options include Wave, Xero, Zoho Books, and QuickBooks Online.

The Bottom Line

When you’re an entrepreneur or business owner, one thing that should never be overlooked is accounting. Whether you plan to hire a bookkeeper or you’re simply going to take this task on yourself, it’s extremely important to choose the method that will work best for your business. If you’re still unsure of which is the right choice, you can always talk to an accountant to learn more about the pros and cons of each method. If you have made a decision, you can get started by checking out our software recommendations above or comparing some of the best software options on the market.

The post Cash VS Accrual Accounting: Which Is Better For Your Business? appeared first on Merchant Maverick.

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October 4, 2019

The Best Free Credit Card Readers For Small Businesses

There’s no such thing as a free lunch.

People like to say that, but if you get a literal lunch for listening to a sales pitch on something you’ve already decided to buy, then that lunch is free. The mobile processing industry, though, typically doesn’t offer free lunches. Instead, they offer free credit card readers. These readers are usually simple swipe card readers or maybe EMV readers if you’re lucky.

Card readers used in mobile processing are typically inexpensive to make, so they are perfect candidates for free giveaways to entice new merchants to sign up. For a small business just getting started, anything free is usually good, especially after looking at the retail price of some of the high-end readers in the market (or even a conventional credit card machine). However, mobile processing isn’t just about the reader. It’s about the suite of services and credit card processing.

So if you are looking for a mobile credit card processing app, don’t make your decision based just on a free reader. Take a look at the app and the extra services provided as well as any upgraded card readers offered by the processor. Compare pricing and features to see if everything truly fits your needs. Even if you do not need any additional services right now, you might need them in the future, so make a plan if you can. Only after you’ve looked at the software and extra features should you take the free card reader into account and make your final decision.

Below, we give an introduction to how these mobile readers work and then talk about some commonly offered free readers. Hopefully, the information will help you make an informed decision for your business.

What Does A Swipe Card Reader Do?

Most people have used magnetic stripe, or magstripe, card readers before. They’re the readers with a slot that you move a card quickly through. This movement allows the device to read the data from the magnetic stripe on the back of the card.

With mobile processing, quite a few of the free readers are magstripe only readers. You may already have seen some around — little white squares attached to phones, popularized by the third-party processor Square, who gives them out for free. To read payment card information, the reader gets inserted into a headphone jack or a Lightning port of a phone or tablet.

There are some disadvantages to using only a magstripe reader. To understand why lets first look at the technology of magstripe readers.

How Swipe Card Readers Work

Not everyone is hungry to learn the science behind every technology. For instance, you the merchant probably don’t care that the magnetic stripe on a payment card has millions of tiny magnets in it. Or that each magnet is affixed in a north or south pole direction so that they can correspond to a zero or a one to make up a binary code to store data. You probably have no desire to learn that there are three strips of information stored in every magstripe. But so you know, the first and second strips store cardholder data, such as the primary card number, country code, cardholder’s name, and expiration date. The third strip stores an encrypted PIN, the country code, currency unit, and the amount authorized.

What you care about is whether the card reader is connected to your mobile device correctly so that the card information gets sent to your card processor. It doesn’t matter to you that a magstripe reader reads information off a credit card much like an old cassette player reads information from a cassette tape. (That’s about how long we’ve been swiping credit cards if it’s any indication.)

You might care, though, that this means that the credit card information on the magstripe can be easily stolen. Under some circumstances, you might get stuck with the loss on purchases made with that stolen card.

Credit Card Swipers Don’t Protect You From Fraud

Back in 2015, to get merchants to adopt the more secure EMV (Europay, Mastercard, and Visa) technology (i.e., chip on the card), the credit card companies decided to shift some fraud liability onto those merchants who hadn’t adopted the technology.

As of October 1, 2015, if a merchant only has a magstripe reader and a customer presents a stolen or fraudulent card with both a magstripe and a chip, the merchant would be responsible for the loss on the purchase. To shift the liability back to the credit card companies, the merchant need only have an EMV card reader.

Admittedly, if you’re just starting your business and do not expect to take a high volume in credit card sales or if you only sell smaller ticket items, assuming liability for taking a fraudulent card might be a risk you’re willing to take. That’s fine, but we at Merchant Maverick do encourage you to upgrade to an EMV reader sometime in the future for your protection. There’s little reason to delay upgrading because some free card readers in this article are combination EMV and magstripe readers, so you can eliminate the risk at no cost to you.

How Do You Get A Free Credit Card Reader?

A free credit card reader is not very difficult to find. Both merchant account providers and third-party processors will sometimes offer a free card reader to entice you to sign up for their mobile processing service.

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We’ve done in-depth research on each and confidently recommend them.

A lot of third-party processors are also mobile processors. Their primary offering is usually the mobile app and card reader. Sometimes, they make money not only on processing cards but also on other value-added services related to running a business in general, services such as invoicing and payroll processing. (Yeah, we’re looking at you, Square.) Once a merchant signs up, the processor will try to upsell and cross-sell these services to the merchant. It makes sense for some merchants — the centralized management of their business is an advantage.

Since an expensive reader can discourage signup, third-party processors often offer readers for free. They make it very obvious on their website that you can get a free reader. However, keep in mind that these services are designed for small businesses — they don’t expect you to need a lot of equipment. Your first reader might be free, but you will typically have to pay for any additional readers.

As to merchant account providers, they typically work with more established businesses that can afford (sometimes expensive) countertop registers and credit card terminals. It’s pretty rare to see credit card terminals given away for free. When they are, it’s usually only a “rental,” and you’ll have to return the equipment when you leave the processor. However, as mobile processing becomes more and more popular, many merchant account providers are starting to offer mobile processing services as a convenience to their existing customers. With these mobile processing services, the merchant account providers do tend to give away free mobile credit card readers. Sometimes the information is clearly advertised but not always. You might need to contact your payment processor and ask if you’re interested in adding on a mobile POS and card reader.

Let’s be clear: Just because you’ll get something for free doesn’t mean that you should immediately sign up with a particular processor. There are some negative issues you might wish to consider.

Why You Should Be Wary Of Free Credit Card Reader Offers

As already alluded to earlier, free card readers are generally provided as loss leaders — something provided for free or at a drastically reduced cost to bring in a new long-term customer. Often, this means that the reader will be a lower-cost magstripe reader, with no EMV capability. If that is the case, then you might not be able to recover losses from purchases made with cards using stolen credit card numbers. At this late date, there is very little reason to settle for a reader that doesn’t support chip cards, and doing so can make your business look a bit antiquated.

If you are getting a free mobile card reader (or a “free” device of any kind) from a merchant account provider, be aware that there could be a tradeoff. Of course, a top-rated merchant account provider such as Payment Depot will deal with their customers honestly and fairly and will give a free reader under their usual no-contract deal. Other merchant account providers, however, might require you to sign a contract to tie yourself to them for a more extended period. Read your contract carefully, so you understand which services you’ve signed up for and for how long. You should also understand how to get out of the contract if you’re not happy with the provider.

Despite the negatives and our caveats, all of these free readers will be serviceable. If you need one of these devices to get your business off the ground or for occasional off-premises use (e.g., trade shows), then these free readers should fit the bill.

How To Find The Best Free Credit Card Reader

Below, we will highlight four free readers currently available in the market. But, before we delve into the specifics of each, we want to point out a few benchmarks you should think about when considering any free reader.

Reader Type: Typically, these readers will read magstripe and potentially EMV cards. It’s unusual to get a contactless (i.e., NFC) reader for free. Keep in mind that a magstripe reader could create a liability issue for you under some circumstances, so it is better to have a reader that can take both magstripe and EMV.
Connection: There are two types of connections — physical connection or Bluetooth. The physical connectors can break off if you’re not careful, and a reader that uses a Bluetooth connection still needs to be periodically charged. We typically recommend a Bluetooth connection over a physical one since smartphones and tablets seem to be phasing out the headphone jack. For example, all the recent iPhones and the Samsung Galaxy Note 10 do not have headphone jacks.
Software: A card reader is just a piece of hardware. Without its supporting software, the reader is useless. Each business is different, however, so its software needs are different. Some businesses will prefer a no-nonsense basic mobile processing app. Others might want additional functionalities, such as inventory tracking. Be sure to think through your software needs before you decide on a free reader.
Battery Life: Battery life applies to Bluetooth and/or EMV readers. Ideally, you want something that can last you at least one day, so you can process credit card charges without interruption.
Peripherals: A basic, pocketable magstripe reader that plugs into a headphone jack or Lightning connector won’t have any peripherals, but Bluetooth and/or EMV readers need cables to charge them up. Other nice-to-have items include carrying cases, docks, clips, and even lanyards that allow the user to carry the reader without losing or damaging it.

Now, let’s look at four simple readers that are available for free. For ease of reference, we’ve put the card reader comparison information into a table:

	Payment Depot Swift B200	Square Magstripe Reader	Shopify Chip & Swipe Reader	PayPal Chip & Swipe Reader
Reader Type	EMV, Magstripe	Magstripe	EMV, Magstripe	EMV, Magstripe
Connection Type	Bluetooth	Headphone jack (for Android) or Lighting connector (for Apple devices)	Bluetooth	Bluetooth
Processing Software	SimpleSwipe	Square Point of Sale	Shopify Lite or Shopify POS	PayPal Here
Battery Life	420 transactions	Not applicable	400 chip or 700 swipe transactions	“all day”
Peripherals	Micro USB charging cable; mounting sticker	None	Stand, micro USB charging cable, mounting sticker, travel case	Device clip, micro USB charging cable

There are plusses and minuses to any free card reader. Ultimately, the “best reader” is the one that fits with the specific needs of your business.

Swift B200 From SwipeSimple

The Swift B200 from SwipeSimple is a Bluetooth magstripe and EMV reader. The parent company, CardFlight, makes two models of readers: the B200 and the B250 (which we review here). The B200 is the less expensive of the two readers, and it lacks the NFC card reader function in the B250.

The B200 can pair with both iOS and Android devices. It uses a rechargeable battery that lasts about 420 transactions. There’s a battery indicator LED light on the device, and the box includes a USB cable. You also get a lanyard and a carrying case.

SwipeSimple’s mobile processing app is available through several providers, but we recommend Payment Depot. Payment Depot is one of our top-rated providers because of its great customer service and fair, transparent pricing. The company also offers a mobile processing plan exclusive to Merchant Maverick readers, which includes the B200 reader for free (you can upgrade to the B250 for $25). You’ll pay $10/month plus 2.6% + $0.10 per transaction with no monthly minimums or additional fees.

We like the SwipeSimple app, and you can find more details about the app in our review. The app takes care of all your credit card processing needs without the clutter of too many extra features. If you’re a no-nonsense kind of person, this might be the app for you.

SwipeSimple Swift B200 Fast Facts

Reader Cost: Free (when you sign up through Payment Depot)
Payment Types Supported: magstripe, EMV
Companion Software: SwipeSimple
Connection: Bluetooth

Square Magstripe Reader

The Square Magstripe Reader is, as its name says, just a magstripe reader. This reader has been Square’s trusty free reader for many years, and it hasn’t evolved much. Of course, when Apple stopped providing headphone jacks on its phones, Square had to adapt to come up with the Lightning connector for its reader. (Soon, it will have to adapt again for Android phones, as Samsung seems to be phasing out headphone jacks too.)

Square

Visit Site

Read our Review

The Square Magstripe Reader does not need charging, and it’s small enough to fit in your pocket to be carried around. There’s a certain elegance in that sort of simplicity, even though it’s only a magstripe reader that can open the merchant up to liability from fraudulent cards.

Square does offer a tradeoff for that liability, and, for some, the risk might be worth it. The Square magstripe reader works with the very robust (and free) Point of Sale app as well as opening up the rest of Square’s highly-rated (and value-added) services to you. In addition to processing cards at 2.75% per transactions, the Point of Sale app can also track inventory, manage employee hours, keep track of appointments, and do much more. So before you rule Square out based solely on its magstripe reader, we encourage you to think about your company’s future needs and see if Square might be a fit for you after all. Here are our full Square review and our Point of Sale app review to help you make a better-informed decision.

If you decide you want to upgrade to one of Square’s other devices later, Square offers financing for all hardware purchases starting at $49 — conveniently, the price of its Contactless + Chip card reader.

Square Magstripe Reader Fast Facts

Reader Cost: Free (additional readers $10)
Payment Types Supported: magstripe
Companion Software: Square Point of Sale
Connection: headphone jack or Lightning connector

Shopify Chip & Swipe Reader

Shopify is better known as an online shopping cart and eCommerce platform. With its free POS software and credit card reader, though, it appears to be branching into stores with physical locations. The Shopify reader is of a proprietary design. It’s a magstripe and EMV reader that comes with a charging cradle. Packaged in a neat little carrying case, you’ll also find a micro USB charging cable, mounting hardware, and everything else you need.

Shopify Lite

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Read our Review

Shopify’s Chip & Swipe Reader connects to a mobile device through Bluetooth. The reader can process 400 chip transactions or 700 swipe transactions on one charge. It works with Shopify POS, which runs on both iOS and Android devices. If you subscribe to any of Shopify’s eCommerce plans, the POS app and hardware are included as part of your service. However, if you’re just interested in the mobile app and some tangential eCommerce features, you can opt for the Shopify Lite plan, which goes for $9/month and 2.7% per transaction. It doesn’t include access to all of the advanced features, but as a mobile offering, it’s quite serviceable.

Be sure to check out our detailed review of the Shopify Chip & Swipe Reader. We have reviewed Shopify’s eCommerce plansÂ as well as its Shopify Lite plan and Shopify POS software. Take a quick look at the reviews and see if Shopify is a good fit for you.

Shopify Chip & Swipe Reader Fast Facts

Reader Cost: Free
Payment Types Supported: magstripe, EMV
Companion Software: Shopify POS (with eCommerce plan or Shopify Lite)
Connection: Bluetooth

PayPal Chip & Swipe Reader

PayPal first made its name as an online payments processor. These days it’s more of an all-in-one solution for businesses, including its free mobile software, PayPal Here, and the free card reader that comes with it. Like most other free readers in this article, the PayPal Chip & Swipe Reader is a magstripe and EMV reader that connects to a mobile device via Bluetooth. The reader comes with a micro USB charger and a clip for attaching the reader to the mobile device.

PayPal Here

Compare

Read our Review

According to PayPal, the reader has enough battery to last all day. However, a little digging in the comments section of reviews and tech support messages suggests that some people have issues with the battery life. So you might want to proceed with caution if long battery life is important to you.

PayPal, like its closest competitor, Square, used to offer a free basic card reader. However, it discontinued that offer and implemented account restrictions on merchants who use the basic magstripe reader (see our PayPal Here review for more information on that). The free Chip & Swipe reader is a nice alternative to this policy. The mobile app is free to use, with transactions processing at 2.7%.

Signing up with PayPal gives you access to all its payment-related services. Make sure you understand the full scope of PayPal’s business as you consider whether or not to get the PayPal Chip & Swipe Reader. And if you do want a mobile card reader with contactless support, check out the PayPal Chip & Tap reader.

PayPal Chip & Swipe Reader Fast Facts

Reader Cost: Free
Payment Types Supported: magstripe, EMV
Companion Software: PayPal Here
Connection: Bluetooth

As you look through the reviews, don’t forget to look at the upgraded readers available from each provider. You might wish to take these readers into account, so you’ll know how much more it might cost you in the future to upgrade.

Don’t Be Fooled By The Promise Of A Free Card Reader

Mobile card readers are usually loss leaders used to entice merchants to sign up with a particular card processor. The free readers tend to be a simple piece of hardware without a lot of extras, and they tend not to be able to read NFC signals, so customers won’t be able to tap to pay. For the card processors, free readers are merely a way to introduce you to their other services.

Before you sign up, it’s important to research the processing company to make sure the mobile software and other features are worthwhile and that the pricing works for you. Otherwise, while you might get your free card reader, you will suffer the administrative headaches or reduced profits that come with choosing the wrong credit card processing company.

Lastly, don’t forget to read our article, The Best Credit Card Readers For Your Small Business,Â for a truly comprehensive discussion on the best card readers in the marketplace today.

Have you used any of these free readers? If so, what’s your experience with them?

The post The Best Free Credit Card Readers For Small Businesses appeared first on Merchant Maverick.

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October 4, 2019

How to Start a Digital Marketing Agency with No Experience

So you’ve got some marketing skills, and you’re wondering how to start a digital marketing agency.

But there’s just one problem…

How do you start a digital marketing agency with no experience?

There have never been more opportunities to strike off on your own in the digital marketing space than there today. But how do you actually do it? Where do you start, and how do you scale?

The secret to starting a digital marketing agency with no experience is to have an actual strategy, grow organically as you learn, and deliberately build word of mouth with a specific type of client. It’s about taking aim vs. shooting randomly and hoping something lands.

There’s also a major misconception that starting a digital marketing agency has to mean a HUGE process that requires building a massive company and doing “all the things” and taking all the clients.

In reality, a digital marketing agency can be just…you. It’s not about the pricey software or offices or employees. It’s about determining who you help, how you help them, and then actually doing the work.

The business model of an agency is fairly straightforward. Sure, you can tinker around the edges about whether to bill by hour, by week, by task, or by project. But at its core, you are providing specialized knowledge for a fee. An agency of one and an agency of 10,000 work in basically the same way.

With that concept in mind, here’s how to start a digital marketing agency with no experience.

1. Set Your Business Goals

Before you decide to do anything, you’ve got to do some planning. What do you want the business to actually look like? What’s the end goal? The vision?

Starting your digital marketing agency without some sort of direction in mind is like trying to get to a new restaurant with no address and no navigation. You end up lost, taking wrong turns, and probably not having much success.

If you’ve observed the industry for any length of time, you’ll notice that agencies with conflicting goals run into trouble often. But the ones that stick to their vision do well.

Some agencies want to maximize prestige. They focus on recognizable clients who are willing to do interesting work. Some agencies want to maximize profits. They focus on boring but high growth, high opportunity clients. Some agencies want to maximize freedom / autonomy. They focus on low maintenance, consistent clients. And some agencies want to maximize business value. They focus on internal operations, cash flow, and strong branding.

There is no correct goal – except to choose a specific goal and stick to it no matter what.

There’s no one-size-fits-all approach to starting a digital marketing agency. There are big agencies, small agencies, agencies that focus on just one part of digital marketing (like search engine optimization) and full-service agencies who do everything from design and development to paid media, local marketing, and SEO.

It’s up to you to decide who you want to serve and how you want to serve them.

What To Consider

Do you want to serve local clients, or go outside of your local sphere?
Are you focusing on a specific industry?
Do you want to offer a specific digital marketing service, or a variety of services?
Do your clients need to be within a certain budget?
Are there services you don’t want to offer? Niches you don’t want to serve?

What To Avoid

Avoid trying to have something for everyone. You know what they say about a jack of all trades… you’re a master of none.
Avoid direction hoping. Pick a direction and see it through until you have enough data and experience to make a decision on changing directions.

2. Define Your Target Audience

The irony of all ironies is that usually, marketers are horrible at marketing themselves, mainly because they don’t go through their own steps.

If you’ve done any marketing before, then you know one of the first things you do as you develop your marketing strategy is get clear on your target audience. The same applies for starting your digital marketing agency.

Once you’ve decided on who you want to serve, it’s time to dive a bit deeper. What are they struggling with? How do you help them with that problem?

Outline the wants, needs, likes, dislikes, habits, and information of someone you think would definitely be an ideal client for your agency. Outline what their marketing needs are, what their goals are, and how you can help achieve those goals through the service(s) you’ve decided to offer.

Don’t just armchair imagine this. Ask potential customers what they struggle with when it comes to getting the word out about their business. What do they wish they could get some help with? What do they look for in a digital marketing agency?

Make 2 to 4 very specific personas. Remember that your initial market is not your total market. Even if you start out by targeting a very specific geographic area or a very specific customer doesn’t mean that you can’t expand. It’ll just give you more focus.

What To Consider

Get specific. It’s better to start small and scale (i.e. being a digital marketing agency that helps local dentists get more clients through organic search) than try to help everyone and get lost in the noise (i.e. being a general marketer who can do anything for any business).
Remember that your initial market is not your total market. It just gives you focus.

What To Avoid

Avoid businesses that don’t align with your overall business strategy. Sure, it’s great to get work in the beginning, but remember… pick a direction and stick to it. If you don’t offer a service, don’t offer it – even if it means turning down a little bit of money at the beginning.
Personas aren’t just for marketing strategies. Have 2-4 for your own business direction so you know who to say yes to and who to say no to.

3. Build an Online Presence

Once you have an idea of what type of agency you are, who you serve, and how you serve them, it’s time to think about how you’re going to present this information.

This means building your online presence through your website and social channels.

Setting Up Your Website

You don’t need to have a full-blown website to have a digital marketing agency. But given you’re helping people get seen online, you should have some sort of online presence.

If you are going super-lean, you can use a Facebook page, Yelp profile, or a few focus (aka “landing”) pages (more on that in a minute). But going without a decent looking website will put you behind the curve and place limitations on what you can do with your brand & marketing.

I recommend setting your own website up with a common, well known software like WordPress and hosting it on your own hosting account**. I have a simple guide to doing that from scratch here.

That route will give you a good technical foundation with fast, simple setup and access to other business tools like email and digital storage. It will also allow you to implement a customized off the shelf design – “themes.” Themes allow you to have a website that looks good enough to make a sale without spending months and lots of money on a 100% custom design. Creating a website on something like WordPress also allows you to implement a 100% custom design when that time comes.

**Note – self-hosting WordPress does have a learning curve. For a long-term website with a business that has resources, it’s worthwhile. But – there is absolutely a role for a hosted website builder for many businesses – especially if your business will focus on clients who use a specific platform (like Wix or Squarespace or Shopify). I have a guide to selecting a good website builder here.

Setting Up Focused (aka “Landing”) Pages

As I mentioned above, a few high-quality focused pages on your website can get you a long way. In addition to your Home page, About page, and Privacy page, you need landing pages to address specific needs.

When I say “landing pages” – don’t think of anything too complex or anything that you would need to A/B test. I’m simply referring to pages that visitors can land on from a search engine or an ad and find exactly what they are looking for. I like to call them Focused Pages rather than Landing pages.

Why? Here’s pro tip that few website owners will admit to: nobody cares about or even sees your homepage.

Your homepage is for people who already know you who are. For businesses in a single specific service, you can use it to “rank” for your main industry term.

Landing pages go beyond your homepage.

Landing pages are for new (or returning) visitors to land on and convert. Before you build out all your website pages, you should develop focused landing pages that sell to one or all of these buckets:

Service specific – These pages should promote your services. But, they shouldn’t be generic. You should make them either focused on the problem that your service solves (ie, no website traffic) or focused on the application of your service. For example, it’s one thing to offer “SEO” – it’s another to make websites more crawlable, more relevant, and more visible in search.

Geography / Demography specific – These pages are all about the location service & logistics of obtaining your agency’s services. Even though your work might be global, your clients’ are likely not global. They will pay for someone who understands their local market. Additionally, if you have a keen understanding of a demographic (ie, college students), then you can focus on that as well.

Industry Specific – These pages should promote your expertise within specific industries. Even though marketing principles do not differ much across industries, clients want someone who can understand their perspective. If you know more than someone else about [X] industry, you should promote that. And if you can go deeper within a niche, then do that.

Now – the magic here is combining buckets & going deeper within each bucket. Until you are big & growing, going niche is your friend. Create combinations to make extremely focused pages.

“Digital Marketing for the Travel Industry” will not bring in your first clients.

“Facebook Marketing for AirBNB Hosts in Atlanta, Georgia” absolutely will.

The goal here is to sell to people at the very bottom of the marketing funnel – the customers most likely to convert and most likely to succeed. These pages will both rank organically – and you can use them for paid ads.

What To Consider

Detailed content content (like a blog) can take your presence a long way. Think about future functionality you may want to have on your site so you can choose a platform that supports it and don’t have to create something from scratch once you’re ready to implement it.
Practice what you preach. If you’re a copywriting agency, make sure your copy is up to par. If you’re a design agency, make sure your site looks like you can actually design something.
You don’t have to be everywhere (i.e. Pinterest, Instagram, Twitter, WordPress, Facebook, YouTube). Pick your starting channels and expand later if need be.

What To Avoid

Avoid perfection. The goal is to have a online presence that shows you’re legit, but being an agency is about billable hours. Don’t spend more time working on your own presence than your clients’.

4. Get Visible (AKA Getting Leads and Clients)

Once you have a place to send people, it’s time to get some leads and clients.

Again, marketers are notoriously bad at marketing themselves. But the days of “build it and they will come” are long gone. You actually have to do something to get clients and start building your portfolio, especially if you’re starting a digital marketing agency with no experience.

Here are a few key steps to follow to get the word out about your digital marketing agency.

Word of Mouth / Referrals

Above all other marketing techniques, agencies thrive on word of mouth and referrals. In fact, many top agencies are past the point of direct response marketing. They grow exclusively on word of mouth. They know how to appeal to certain markets and what kind of performance it takes to get further referrals.

The focus of your landing pages will help word of mouth since you’ll develop a simple, straightforward reputation.

In order to get referrals, you’ve got to get clients to back up your reputation. Which brings me to…

Direct Outreach

Also known as hustlin’. This consists of all the tedious and tough pitching that you know you need to do… but don’t want to do.

Now, it doesn’t mean spamming. It means going directly to your market and doing appropriate outreach.

It means emailing and Facebook messaging people that you know might be interested in your marketing services (or know others who might be). And sending them to your landing pages to learn more about your agency or hopping on a call with them to talk about how you can help them. And again, the focus of your landing pages will help make word of mouth simpler. You’ll stand out when people remember you as “the [X] marketer for [Y] industry in [Z] city.

It means helping within industry forums. I got my first handful of web design clients after helping people on the WordPress.org support forums. I got my first ecommerce client after helping in the Shopify forums. I never pitched anyone directly, but this type of manual, hand-on work counts as direct outreach.

When you’re just starting out with no experience, direct outreach is one of the most effective ways to get clients quickly (which you can then turn into referrals).

Tap into your existing network, look for projects that you can knock out of the park, and continue to get your name out there without having to spend money on ads or wait for your inbound strategy to grow (more on that in a minute).

Check out this case study or this post for even more detail on how to use direct outreach.

Paid Traffic

Yes, it’s true — Google Ads and Facebook can be expensive for a good return on investment, especially for the close to converting keywords that you should try to buy.

But if your serious about building a long-term marketing strategy for your digital marketing agency, then your goal is a bit different when using paid traffic.

You are buying data. Lots of data.

You should be doing a few things with your new traffic.

Look at what keywords are driving the best leads. Google Ads & Facebook give you this information. Try using modified broad match for your keywords. Many times customers are using a wider variety of keywords than you’d guess.
Run your ads very focused on geography, especially if you’re a local agency. If you have a landing page for a neighborhood, set up a campaign for that area.
Look at what landing pages are driving sales & calls.
Look at what areas are driving sales.
Test ad copy and figure out the right messaging. You can use this data to inform any print or display campaigns..
On Facebook, you can get *really* specific with your audiences. Do that. Create an audience of 100 who you *know* would be perfect. Make sure they know about you. Use the campaign to warm up any direct pitch.

Organic Search (SEO) Traffic

Organic traffic (SEO) still might not be the best next channel to pursue after paid traffic. There’s a great big wide world of paid and organic traffic sources, and if you’re working on building a portfolio and just get some experience, this is going to take awhile.

And yet, if you’re playing the long game, setting up your SEO strategy now can have huge payoffs in the end.

Google processes more than 3.5 billion queries per day. And for most queries, most of the clicks go to an organic result. And you’ll know from your Ads campaigns that clicks for competitive keywords can be quite expensive. That’s a cost you don’t have to pay if you rank in the organic results.

So I won’t hide my enthusiasm for SEO. It’s my specialty and is the giant battleship that will keep on going once it’s headed in the right direction.

When you are setting your marketing strategy for your digital marketing agency, you just have to know what it takes to get organic traffic and what it will take on your part to get it done.

Often you’ll just need a handful of really useful posts to prove your expertise. Don’t go after generic topics. Show off your specialty. Do a tutorial on tools that you know your audience is trying to use. Write about an issue that you know everyone is dealing with.

What To Consider

Your first goal when you’re starting an agency is to get clients. Billable hours drive everything (and is what will enable you to invest in other marketing efforts).
Some of your best leads can be in your own circle. Don’t discount the network you already have.
No one will know about your business if you don’t tell anyone about your business. You don’t need fancy business cards, a beautiful website, or even some elaborate marketing funnel. You DO need to tell people what you do.
You do have to walk the walk, but you don’t have to rely on your own area to build your business. If you do SEO and you choose not to use SEO to generate leads, that’s fine — but be prepared to speak to that with potential clients.

What To Avoid

Avoid being a generalist. Yes you need clients, yes you need revenue — but remember the business strategy you set upfront.
Avoid adding additional work without increasing the scope to “win” a client. If clients want additional services and you offer them, great! Let them know how that changes your fees. Earn respect with results, not with price or perceived responsiveness.

5. Define Your Growth Plan

Building a digital marketing agency doesn’t mean you have to become the next big company doing Super Bowl commercials. As I mentioned before, a digital marketing agency can be an agency of one.

You should however, have an idea of how you’d like to grow. Being a one-person company still doesn’t mean you have to do everything yourself. ShivarWeb is made up of exactly 1 person, Nate Shivar, but several amazing contractors help shoulder specific responsibilities. Employees are great once you have a solid book of recurring contracts, but contractors can help you bridge any gap.

As you start to grow, think about the teams, systems, and deliverables you want to have in place to help support your clients.

For your team, would bringing on a full-time copywriter help you sign two more clients? Could you outsource design work or administrative tasks that take up your time?

For your systems, do you have a written system for new clients? Even if you are solo, you need to have a written system that clients pass through. It should be something that you can set out in a contract. You can (and should) find examples for Master Service Agreements (MSAs) & Statements of Work (SoW’s) to build of of. Make sure you have an internal project management system – even if it just lives in a Google Sheet.

For your deliverables, do you have a way to show value to your clients? Do you have a way to gather feedback from them. If you are an SEO, then written audits, keyword maps, and written outreach & content strategies will help make the “magic” of SEO real for your clients. It goes the same for every type of marketing. What format will you use? Who can you talk to within the industry to get a base understanding?

To be honest, this section is the biggest reason to do some short stint with an already established agency. I worked for Nebo Agency for a little over 2 years, and learned more than I could have learned on my own in 10. But working for an agency is not required. You just need to do a bit more thinking & planning.

Doing some advanced planning here will help you scale faster and easier than waiting to figure it out when the workload becomes too much.

What To Consider

There are certain tasks only you can do. What are those? Keep your focus there.
A bigger team doesn’t necessarily mean a better agency. Some of the best marketers I know run with a very lean crew.
Think back to your business vision. Do you have services you want to provide but YOU can’t do? Are there people you can hire that can cover a few different areas (i.e. a writer with graphic design experience)

What To Avoid

Avoid getting caught in the weeds. You can’t make any money if you’re sitting in your inbox for five hours a day.
Avoid thinking of outsourcing as an expense. Crunch your numbers and think value and reinvestment.
Avoid going the “cheap” route when hiring help. You get what you pay for.
Charge what you are worth. If you are making your clients money, then charge what you are worth…and make them even more money!

Conclusion & Next Steps

Starting a digital marketing agency with no experience doesn’t have to be a daunting process full of questions, unknowns, and hurdles.

It does require that you clearly understand what you want out of your agency, who you’re going to help, and how you’re going to help them.

If you are trying to start a digital marketing agency, follow the process and you’ll be all set!

The post How to Start a Digital Marketing Agency with No Experience appeared first on ShivarWeb.

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October 4, 2019

The Entrepreneurâs Guide To Small Business Saturday (Why and How Your Small Business Should Be Involved)

If you’re looking to get your business in shape for upcoming holiday sales, begin your training and flex those small business muscles by participating in Small Business Saturday. After all, this is your holiday! Black Friday may be about mindlessly shoveling bags of money into the big box stores, but Saturday is a day for the little guys — and in 2019 more than ever.

Over the past few years, foot traffic at major retail stores has dipped on Black Friday. Some of that is because of an increase in online spending, but some can be contributed to the fact that consumers are becoming more conscious spenders. Small business owners can ride this shifting wave of public opinion by using Small Business Saturday to engage their communities, find new clients and customers, and invigorate their regulars!

Keep reading to find out how.

The Ins & Outs of Small Business Saturday

After a day dedicated to gratefulness for what we already have, Americans can’t wait to score great deals on more stuff on what is traditionally the busiest shopping day of the year. We all know about Black Friday frenzy. But did you know that the Saturday following Black Friday is the second busiest shopping day of the year? In fact, in 2010, it became its own holiday dedicated to spending at small businesses. American Express was the big advertiser behind making Small Business Saturday a success (buy local, with our credit card). And it worked.

While Black Friday is still a big revenue booster for big chain companies to roll out their holiday must-haves (shopping hint: apparently, a mechanical owl you teach to fly is already destined to be this year’s version of the Tickle-Me-Elmo), Small Business Saturday is equally important for the small business sector. Local businesses might participate with sales to get foot traffic, but online stores can also take part in the fun (even if eCommerce sites also get their own Cyber Monday holiday). The goal is to direct hard-earned money toward brick and mortar small businesses in local communities. And in recent years, the consumers have answered by making the act of shopping small and local a part of their holiday spending.

With past and future customers and clients already in the frame of mind to spend, use Small Business Saturday to boost revenue, attention, and loyalty for your small business.

Should Your Business Jump On The Bandwagon?

Yes! Jump on this bandwagon! Consumers enjoy shopping at local businesses and getting to know the people in their communities. It is an interaction that feels nostalgic and possibly outre, and yet in today’s world, our abilities to connect with businesses and makers in our community have never been better. In many ways, Small Business Saturday is a rebuttal to Black Friday: people might love savings, but they love feel-good shopping, too.

Independent businesses make our economy thrive and this holiday provides an amazing chance to grow your business.Â Many shoppers are relational and will drive longer or spend more to purchase something from someone they know, respect, and understand. Use Small Business Saturday to encourage this kind of relational economy.

How To Market Small Business Saturday: 10 Tips For Success

In all the best ways, Small Business Saturday is already a phenomenon, with local businesses teaming up for a carnivalesque experience down the main streets of America. American Express’ free advertising helps. (Some places have bouncy houses and live music and wine tastings.) Some shopping communities already have events recurring for Small Business Saturday, but what if your business is online or located in a less-trafficked location?. No matter the situation and type of business you run, here are some tips for success.

#1: Start Promoting Now

People start thinking of their holiday spending at the exact moment that summer melts into fall. People start talking about Thanksgiving plans as the holidays are on everyone’s mind right after Labor Day. When you head into these prime shopping months, take advantage of opportunities to promote your participation in Small Business Saturday. If there are events for the day, maybe create an event page, or run advertising that showcases your business story and what services you offer. Maybe include a free/exclusive item to anyone who makes a purchase over a certain amount. Promote those offers and extend your reach during the weekends leading up to Small Business Saturday.

#2: Be Yourself

Shoppers on Small Business Saturday are stoked to find deals and items for sale. However, the spirit of the event is really about focused, local spending and being the antithesis of big stores. So, again, making a relational connection to people will go a long way for your business versus merely cutting prices (which you may not be able to truly afford). Think of Small Business Saturday as a moment to tell your story. With that…

#3: Tell Your Small Business Story

There are so many reasons that your small business story is an integral part of your business, so if you haven’t thought about writing it down already, do it! Who are you? What inspired you? If you run a small business, that small business reflects your heart and your blood and your sweat and your tears. I’ll say it again: shoppers are relational. People want to spend money in their local communities and they want to know how their money supports others, so tell them! Create a flyer, post your story on social media. Encourage people to come meet you and the people you employ in person. (If your business is online, you can conduct live interactions with customers during specified times through any number of social media platforms!)

#4: Exploit Social Media

Exploit is such a harsh word. But I mean it. The Small Business Saturday hashtag will be flying and consumers are on the lookout for places to spend money. Small businesses can use a program like Rafflecopter to set up rewards and incentives for following social media accounts or sharing information (in general, it is frowned upon and against terms and conditions to link giveaways to making a purchase or leaving reviews). Engage your social media followers with a countdown or highlights of the things available for sale. Introduce employees. Use social media not just for promotion but for engaging with customers and potential customers.

#5: Get Involved In The Community

Even online businesses have their own niche communities. So, whether you’re in a business complex or online, there are ways to team up and help each other. Share about other small businesses on your social media pages and find ways to promote your community as a whole. (You could even invite a local celebrity to visit!) Remember: The people shopping Small Business Saturday are locals or people online looking for a specific type of small business to support. By making it more about the community or teaming up with other businesses in the community, it builds your identity and expands your customer base.

#6: Be Ready

If you run a brick and mortar store and you are advertising a specific item, make sure you have enough in stock. If your online store is promising speedy delivery, don’t get overrun and let people down. This is about customer service and professionalism. Prepare your staff and plan ahead for emergencies. Whatever promises you make for customers on Saturday, be ready to make those a reality or you may face a backlash and lose repeat customers.

#7: Support Local Charities

Feel-good shopping begets more feel-good shopping. If you sell pet supplies, think about pairing up with a local animal shelter or a restaurant that supports meals for those experiencing homelessness. Giving a percentage of sales to a charity or non-profit is a great way to incentivize spending, yes, but also it’s a great thing to do, period. Giving back shows what matters to you, creates bonds in your community, and increases awareness.

#8: Give Customers A Reason To Come Back

A coupon for next time or a chance to enter a drawing in exchange for their email address are certain options you can employ to get your customers to come back. Whatever methods you can use to help customers remember you the next time they are shopping, employ them. Send everyone home with a flyer with your story and a discount; plan a special sale with invites going to all customers who make a purchase that day; issue a December coupon. These are all ways to get your information into the hands of customers and act as reminders to make a trip again.

#9: Offer Something Exclusive

It’s true: A Small Business Saturday Exclusive has that flair buyers want. Special deals only for Saturday, doorbuster discounts, a free item with a purchase, a selfie with you? No matter what you offer, make sure it’s something that fits your business, tells your story, and appeals to your customers. Whether it’s a giveaway or an offer, the allure of something rare and exclusive is hard to ignore.

#10: Make It An Event

Don’t limp into Small Business Saturday with the enthusiasm of a young teen being forced to take pictures with their parents in public. If you aren’t excited about the holiday, you won’t be able to sell that excitement to your customers. And excitement sells. So, make Small Business Saturday an event. Make it a moment. Help make the people who come and visit you on that day feel special and wanted and important. Because they are! How often does a small business get a holiday to roll out the red carpet for the people who support them? Create a tradition, a memory, and an incentive to return.

What’s Your Real-Life Small Business Saturday Story?

Are you a small business owner who has participated in Small Business Saturday in the past? What are your tips and tricks for surviving and thriving? And what are the best ways you’ve found to make the day meaningful and successful? How does your community celebrate? We want to know. Share your Small Business Saturday stories in the comments.

The post The Entrepreneurâs Guide To Small Business Saturday (Why and How Your Small Business Should Be Involved) appeared first on Merchant Maverick.

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October 2, 2019

Does Your Restaurant Need An Online Ordering System?

What will go down as the societal advancement of the 2010s? Will it be groundbreaking cancer treatments? Leaps in virtual reality technology? The onset of self-driving cars? It’s too early to tell, but I’m going to put some early money on the revolution known as online ordering. Because who needs life-extending medical advancements if it means living in a world where you still have to put on pants to get food from your favorite local restaurant?

Mobile ordering has taken the restaurant industry and the limits of my own laziness by storm. According to a recent post by POS company Upserve, 60% of US consumers reported ordering delivery or takeout at least once a week. 31% of responders said they used those services at least twice a week. And digital ordering has grown 300% in the past five years compared to dining in at restaurants. This boom can obviously mean there’s potential for huge profits for restaurant owners. But there are a few things you’ll need to keep in mind when thinking about adding online ordering to your own business. In this post, we’ll break down how online ordering works, how to set it up for your business, and what your options are in terms of using your own system or a third-party.

How Do Restaurant Online Ordering Systems Work?

From the consumer’s perspective, it couldn’t be simpler. Decide “I think I would like some food!” make a few clicks on your phone or laptop, and food from your favorite restaurant arrives at your door in a timely fashion. But from the restaurant’s side of things, well… no, actually it’s still pretty simple.

If you’re using a POS system with integrated online ordering, you likely just need to activate it. Sometimes, if the service is an add-on, it will come with an additional monthly fee. From there, the software does the work. An order that is made online can either pop on the POS system and then be sent back to the kitchen or it can be sent directly to the kitchen, along with the time that the order was made and when the customer or third-party delivery person plans on picking it up. In this instance, a POS that comes with a Kitchen Display System (KDS) can be beneficial as it’s a convenient and efficient way to track a high volume of orders.

If you’re new to online ordering, you’ll also want to make sure that your website is intuitive and has the capacity for a potential influx of visitors. If you’re starting a website from scratch with the intention of adding online ordering to your business, you’ll want a good eCommerce platform. Many POS systems come with eCommerce functionality built-in (often for additional monthly fees) and others integrate with strong eCommerce software like Shopify.

If your POS does not have its own online ordering system, it may integrate with one (we’ll get into some of the better online ordering integrations later) and, in that case, you will likely just need to download and install the app on your system and you can be up and ready to take orders in minutes. The other option is to use one of the popular marketplace apps like UberEats or GrubHub. These apps are easy to use and widely-known among customers, but they also take a larger percentage of your profits.

How To Implement Online Ordering For Restaurants

Now let’s start getting a little more detailed. As we briefly talked about, there are a few different types of online ordering systems each with their own advantages and disadvantages.

Restaurant POS Add-Ons

These are systems that are built-in to existing POS software. They usually come at an additional cost for users but require very little additional set-up.

Advantages:

Works Seamlessly With Other Software: Obviously, if this is a part of the overall software, it will be designed to work with other POS functions like loyalty or eCommerce and the interface will be immediately recognizable.
Lower Costs: Keep in mind that, with most POS systems, online ordering is either an add-on that you will have to pay for in addition to your monthly software cost or you will need to subscribe to a higher tier plan. The good news is that this is a fixed fee. Considering that you won’t be hit with fees per order like other apps charge, it’s usually the most economical choice.
Store Customer Information: Many online ordering systems can pair directly with a POS system’s loyalty program. This allows you to keep a record of customer information and transactions. You can easily see customers’ past orders along with how often they frequent your business and how much they generally spend. You can then offer rewards or send out targeted marketing to encourage customers to return.

Disadvantages:

Availability:Â Unfortunately, not all POS systems have integrated online ordering. You may love everything else about your system and aren’t willing to switch over to another just for one additional feature.
Visibility:Â Like it or not, the third-party apps do serve a purpose: they can help your restaurant reach customers who may not know about you. With a built-in online ordering system, a customer will have to specifically know about your restaurant and order directly through your website.

While multiple POS companies now offer some form of in-house online ordering, here are a few that do it well:

Upserve:Â This company has one of the highest-rated online ordering systems, getting high marks for its cost and usability. Upserve offers great reporting, breaking down online ordering into easily digestible charts to track trends and help with marketing campaigns in the future.
Toast: Toast is extremely intuitive and built for the restaurant industry. Its online ordering system features full menu visibility and offers prompted modifiers to help customers walk through their options. You can also dispatch drivers to pre-set delivery zones.
Square:Â The processing and POS giant now offers Caviar on its Square for Restaurants platform. This software offers flexibility for customers to choose the time of their pick-up. It also comes with real-time updates and GPS order tracking.

Third-Party Online Ordering Systems

These are apps specifically created to help restaurants implement online ordering. They can generally be downloaded from an app store or a company will specifically partner or integrate with them.

Advantages:

Created For Restaurants:Â When you set out to create an app that is specifically for online ordering to be used by a variety of restaurants, the product is likely to have all of the features you need and be intuitive for your employees.
Can Help Build Your Website:Â Apps like these can help give your website a professional look and can help drive repeat business through their own loyalty campaigns.

Disadvantages:Â

Cost:Â Most of these third-party systems come with a monthly or yearly fee that is generally more expensive than the add-on price for an existing POS’s ordering software.
Compatibility:Â While most of these apps do a good job integrating with existing POS software, you may find that your existing system doesn’t support the third-party system you’ve settled on.

And here are a few examples of third-party apps that could help serve your restaurant:

GloriaFood:Â This is a free app that boasts no hidden fees. It also offers a bundle to help set up your website. It has a simple-to-use interface and can be up and running in a short amount of time while also offering a table reservation function.
ChowNow: ChowNow is commission-free and syncs up nicely with social media sites like Facebook to help drive sales. Its dashboard also allows you to make quick menu changes on the fly.
MenuDrive:Â This app comes with built-in loyalty to help attract and reward repeat customers. It can also help with marketing and promotions and it was specifically built to be a functional experience for mobile orders.

Marketplace Delivery Apps

These are well-known apps that are used by a large number of customers and rely on third-party drivers for pick-up and delivery.

Advantages:

Visibility:Â These apps can literally put your restaurant on the map. You could potentially have thousands of eyeballs on your menu that you wouldn’t have otherwise due to these apps’ sheer number of users.
Not Limited To One App: While is may put a strain on your kitchen, you can use pretty much as many companies as you’d like to maximize the number of customers you can reach. There are also additional apps like OrderOut that can combine all of these third-party apps into one location to simplify the process.

Disadvantages:

Cost:Â These apps often charge a hefty fee for the use of their popular service, some as high as 30% of an order, which can virtually negate any profit your restaurant may have received.
Discourages Loyalty:Â While these apps may get your name out there, they are also impersonal and may not do much to increase the chances of repeat business. You also can not track or chart customer information or ordering habits for future marketing.

While the chances are good that you’ve heard of at least a few of these third-party apps, here’s what some of the more popular ones can offer:

UberEats:Â This app comes with a huge number of drivers which can virtually guarantee speedy delivery and it’s simple for restaurants and cafes of all types to utilize. However, UberEats does charge one of the largest commission fees in the industry.
Postmates:Â Postmates claims to have the largest on-demand network in the industry and is extremely popular in large, urban areas. It also has a Postmates API if you or anyone in your restaurant is into coding and software development.
GrubHub:Â GrubHub has a convenient re-order feature for users that can help keep your restaurant at the front of a customer’s mind. While it may not specifically benefit your business, GrubHub also offers loyalty perks to its customers, rewarding them for repeat business.

Is An Online Ordering System Right For You?

By now you’re probably well aware of the potential revenue boost that an online ordering system can add to your restaurant. That doesn’t necessarily mean that moving forward is a no-brainer, however. There are plenty of things to consider such as the added costs of more ingredients and labor, not to mention whether or not your kitchen can handle a significant uptick in orders without sacrificing your in-restaurant experience.

But if you’ve determined that this is the right move for your business, you have plenty of options. The nice thing is that the vast majority of these systems, whether in-house or through a third-party, are very easy to set up and utilize. With most, you could be ready to make your first online sale in a single business day. But you’ll still have to weigh what would be most beneficial to your own, personal restaurant. Do you want a system that helps get your name and menu out to a variety of new customers, or do you want to avoid high fees while rewarding and marketing to existing customers? Whatever you decide, hopefully, this helped make the big decision a little easier.

The post Does Your Restaurant Need An Online Ordering System? appeared first on Merchant Maverick.

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October 2, 2019

7+ Best Author Website Examples to Use for Inspiration

So you’re creating an author website, and you’re looking for author website design examples for inspiration and guidance. You’re also wondering which website platform is best to use for your website.

But before we dive into examples of what professional personal websites look like in the wild on a variety of website builders and hosting platforms, there is one thing to keep in mind when you’re evaluating a website: it’s not just about how the websites look. The functionality matters too.

Think of it like buying a car. You have a make / model in mind, and you’re probably looking to see them drive by on the road to see how they actually look. However, you also care about how they operate. Does it accelerate well? Does it have the hauling capabilities you need? How is the gas mileage?

Looking at an author website examples should be done in the same way. Do you want the website to have ecommerce functionality so visitors can buy books? Do you want people to be able to book you for speaking engagements? This functionality needs to be consider before you start choosing a website builder + hosting platform.

We collected the following website examples not just to show you how they look on different platforms, but how they can function, so you can be sure you create a website that fits both the look and functionality you need!

Disclosure – I receive customer referral fees from companies mentioned on this website. All data & opinions are based on my professional judgement as a paying customer or consultant to a paying customer.

Best Author Website Examples

We’ve pulled these examples based on functionality, design, and usability. Again, when you’re looking to build an author website, remember that you’re not just thinking about making the site look good. You want to think about what your site actually needs to do, and find a platform that supports all of your needs.

Marie Force

Software: Self-Hosted WordPress

Hosting: Continental Broadband

Homepage has everything you need right upfront. The slideshow of images allows you to preorder the new release for popular series, see upcoming events where Marie is speaking, and access her series on Kindle Unlimited. You can also sign up for newsletter updates, read about upcoming releases, or buy her other books all from the homepage.

We particularly liked how Marie uses the “Reading Order” button at the top of the homepage to direct to her Books page, which shows all of her books and series and allows readers to dive deeper into each one.

Despite having a lot of books and series to display, the layout is organized, which makes it easy for visitors to find exactly what they’re looking for.

If you’re wondering how to display your work and key information for visitors in a way that’s clear and organized, this author website example is a great place to start for inspiration.

Jody Hedlund

Software: Self-Hosted WordPress

Hosting: Unified Layer

What stands out about this author website is how clear the navigation is. As soon as you get to Jody Hedlund’s homepage, your next steps are clearly laid out below her header image.

We also liked how Judy included buttons to all of her social media channels directly below her name. It’s a great way to send people to your other profiles without breaking the overall design of the page.

Another thing that stood out to us on this author website is how Judy implemented professional headshots and book cover images on her media page that journalists and bloggers can download without having to request them from her team.

If you’re looking for a good example of clear navigation and how to include additional assets for the press, this is a strong example to use for inspiration!

Mike Palombi

Software: Squarespace

Hosting: Squarespace

This author website example stands out for a few reasons. First, we really liked how Mike included his logo in the top menu bar on the site. It stands out in a way that’s creative, but unobtrusive. It doesn’t detract from the navigation, but it does add that extra “branding flair” to the site to make it look professional.

When you scroll down the homepage, you can read more about the book in detail, or watch videos on the book and interviews Mike has done.

mark palombi videos author example website

This is a great way to incorporate different media types on your website to support and supplement your books and build credibility with your visitors.

Angela Meek

Software: Weebly

Hosting: Weebly

Sometimes, people get so focused on a website’s design that they lose sight of the overall goal — and that’s to give your visitors applicable information about whatever your website is focused on.

Angela’s website is a great example of a simple, straightforward author website that doesn’t have a ton of design frills, but still manages to look clean, organized, and give visitors all of the information they need on her, her books, and how to get in touch with her.

If you’re looking for a way to get your content up in a simple layout, this is a great example to use for inspiration.

Lesley M. M. Blume

Software: Self-Hosted WordPress

Hosting: Media Temple

If you’re looking to create a more creative angle with your author website, we love this example from Lesley M. M. Blume.

Notice how Lesley intentionally uses design elements that capture the theme of her book. As soon as you get to the homepage, you get a sense of what Leslie writes about. It’s a great way to bring readers into the world of your work, and adds an element of creativity to your author website.

Tim Tigner

Software: Custom-built website

Hosting: Rackspace

This website for Tim Tigner is another strong author website example that hits all of the marks. The homepage header image captures the theme of his books, and the subtitle under his name is a great example of using strong copy to “hook” your readers in!

We particularly liked the Book Club Info page, which includes Tim’s downloadable discussion questions for book clubs who are reading his books:

If you’re looking for an overall example to use for inspiration for your author website, check this one out!

Scott A. Winkler

Software: Wix

Hosting: Wix

If you’re looking for a more straightforward approach to your author website, this example by Scott A. Winkler is a great place to start.

This author website relies more on text than the other examples we pulled, but it’s an easy way to give readers an overview into who the author is and link out to his works and where you can buy them.

Remember, your website doesn’t have to be a design masterpiece. It just needs to give your readers the information they need and help them connect further with you and your work!

Next Steps

Now that you have some inspiration in terms of the design, colors, and functionality you may want in your author website, where do you go from here?

Well, it really depends on where you are in your author website building journey!

If you’re ready to decide on a website builder, check out my guide to choosing a website builder here.

If you’re looking to go DIY with a specific template to match your design and functionality needs, check out my Build a Personal Website: Templates, Design, and Setup Guide.

Lastly, if you’re wondering how to market your author website, check out my guide to creating a local marketing strategy.

The post 7+ Best Author Website Examples to Use for Inspiration appeared first on ShivarWeb.

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October 1, 2019

Zoho Sites Website Builder Review: Pros, Cons, and Alternatives

Zoho is a software company that has a suite of products designed to help business owners get their businesses up and running online. Their website builder, Zoho Sites, is an all-inclusive website builder, which means it includes everything you need to create your site (from the builder itself to the hosting).

See Zoho’s Current Plans & Pricing

Recently, I gave Zoho’s website builder a try for a full Zoho Sites Website Builder review. But before I get into the pros and cons of my review, let’s dive into an overview about tools to build a website.

There are so many considerations to take into account when choosing a website builder — and really, there are a thousand ways to get what you want in the end in terms of functionality, convenience, pricing, etc. The thing to remember is: whether you’re building a simple personal website or running a business, the way you build your site has a lot of consequences.

In the long-term, it affects your versatility, functionality, and, of course, your brand. In the short-term, it can certainly add/take away a lot of headaches. That said, just like choosing a physical house or office, there is no such thing as an absolute “best” or “top” choice. There’s only the right choice relative to your goals, experience, and circumstances.

What Is Zoho Sites?

On the wide spectrum of website building solutions, Zoho Sites lives on the end that is all-inclusive and provides everything you need to get started and grow your website. It contrasts with solutions where you buy, install, and manage all the “pieces” of your website separately.

Using Zoho is sort of like leasing and customizing an apartment in a really classy development instead of buying and owning your own house. You’re still in control of decor, cleaning, and everything living-wise – but you leave the construction, plumbing, security, and infrastructure to the property owner. That point is key because there’s usually a direct tradeoff between convenience and control.

Everything may fit together just right with a website builder like Zoho, but that may or may not be what you’re looking for.

As far as competition, Zoho Sites competes with all-inclusive website builders like GoDaddy, Wix, Squarespace, Jimdo, Yahoo!, Strikingly, and WordPress.com.

Compared to their direct competition, they focus on ease of use and integration with their plethora of Zoho products. Zoho offers several website templates you can customize with no coding or design experience required, and also gives you the opportunity to integrate with their marketing and optimization tools.

One other quick aside – a disclosure – I receive referral fees from all the companies mentioned in this post. My opinions & research are based on my experiences as either a paying customer or consultant to a paying customer.

Pros of Using Zoho Sites Website Builder

Here’s what I found to be the pros of using the Zoho Sites website builder — not just in comparison to direct competitors like GoDaddy and Wix, but as an overall website solution.

Easy Sign Up Process, Onboarding, + Free Trial

One of the biggest pros of using Zoho Sites is how easy it is to get up and running on the platform. It’s a few basic steps of entering your information, picking a theme, and then you’re in.

Zoho also makes it incredibly easy once you’re inside the platform. Their onboarding process (AKA the information they give you to get you up and running and actually using the software) is very straightforward.

They walk you through a step-by-step tutorial of how to customize your website as soon as you choose a theme.

The entire process makes it easy to get your website up and customized in a matter of minutes, even if you have no online experience.

Zoho also offers a 15-day free trial when you sign up, and they don’t require a credit card to use it. Most software providers offer a “test run” of their products, but it comes with caveats. You either have to choose a plan upfront and enter your card info to be automatically charged when the trail is over, or have limitations on your features, or both.

Zoho allows you to truly test out their platform for 15 days before you make a decision — no strings attached.*

*Note – so technically, you’d have to sign up for some of their product integrations if you want to implement them in the free plan. I still consider it no strings attached, because you get all of the basic functionality / inclusions in the free trial.

Template Design / Functionality

When I’m looking at all inclusive website builders, I want to be sure I look at both the templates’ design and functionality to get an accurate picture of what the builder can do.

Zoho also offers a wide selection of template designs that are responsive (AKA they look good on a mobile device, tablet, and computer). They have a lot of variable designs that you can use as the foundation of your website.

Once you choose a template, you can customize it to your brand. Zoho is what’s known as a “drag and drop” editor, where you can “drag” premade sections and “drop” them on your page. It makes customizing your site simple, straightforward, and fast.

With Zoho, can customize the styles on the page (like fonts and colors), as well as the individual sections, and you can add new elements to a section layout. However, you can’t create a new section from scratch using the drag and drop editor.

You can, however, customize your template using the CSS and HTML editor, which is a big benefit if you have coding experience but want to use a template as a starting point.

All in all, Zoho’s Website Builder has a great balance of convenience and control in terms of template design, which is a big plus for an all-inclusive website builder.

Some Product Integration

Another thing that makes Zoho’s Website Builder unique is their product integrations. Zoho has their own CRM, Marketing, and Analytics products, and these integrations are easily accessible in the site builder.

One thing to note — these additional integrations / functionality are all part of paid plans (more on that in a bit).

This isn’t necessarily a con, but it is something to pay attention to… especially because you can find a lot of this functionality for less with other website builders (particularly if you went the self-hosted WordPress route).

Cons

Of course, no review would be complete without looking at the downsides. Every piece of software will have complaints. Let’s look at the specific cons I found with using Zoho Sites as your website builder.

Pricing + Plans

While Zoho is fairly easy and convenient for DIYers and business owners, they do leave a lot to be desired when it comes to pricing. All of their plans come with some sort of limitation, whether it be pages, storage, or even the number of forms you can have on a site.

It’s also worth noting that Zoho doesn’t offer a free plan. There’s a free trial, which lasts for 15 days, but if you want to continue on with their service, you have to choose from one of the paid plans.

Again, this isn’t necessarily a “con”, but if you’re looking for a website builder for a short-term project, you can probably find a builder with similar features who offers a standard free plan (ie, Wix or Weebly).

Limited Feature Set – Technical

Technical limitations are features that you don’t know that you want until you want them, and then you find out you can’t have them.

These are things like integrations with Facebook, Pinterest, Twitter, Google Ads, social sharing options, blogging, and a whole host of every intermediate to advanced marketing tools on the internet.

Now, as I mentioned above, Zoho does include some product integration that’s built-in (like their CRM) or can be added on (like their MarketingHub). But when it comes to outside integrations, Zoho is fairly limited.

For example, let’s take a look at their apps:

There isn’t much to built-in from an integration perspective outside of what Zoho offers in their product suite, and even then, there’s not a ton of clarity around what these features actually are or do.

Now, you could add your own integrations through code snippets. However, if you want something that you can easily “plug in” to your site and have it just work without you messing with code, then Zoho leaves a lot to be desired.

Zoho Review Conclusion

Zoho makes getting your website up and running simple and fast, and they also offer substantial customization options for more experienced website builders through their HTML and CSS editing.

See Zoho’s current pricing plans here.

However, like most all-inclusive website builders, there does come a point where there’s a tradeoff between convenience and control, especially when you factor in price. Zoho’s pricing leaves something to be desired, especially when you get into the higher priced plans and take into account the technical limitations, even with the higher priced options. If you’re looking for something that offers more control and scalability, you’re better off elsewhere.

Not sure Zoho fits your needs? Check out my quiz to find what the best website builder is for you based on your preferences.

The post Zoho Sites Website Builder Review: Pros, Cons, and Alternatives appeared first on ShivarWeb.

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