Online Small Business Banking

In the digital age every bank has an online presence, from my little credit union to the big national players. However, not all banks are geared toward serving small business via the internet and, while they all offer you a lot of promises and maybe a flashy new toaster oven, not all of them offer you the services that you need at a competitive price. Here’s what to look for and how to spot those that offer online small business banking from the poseurs.

Customer Service and Big vs. Small Banks

One thing that you may read is how important it is to “cultivate relationships” with your banker and how important your banker is in expediting and even deciding whether or not you get a loan. While this may still be true in the smaller banks, in larger regional or national banks you will never, ever meets the person who approves your loan. A buddy of mine who was a big shot at a major bank before ditching it all to go into the Peace Corps said that the big banks create a strong separation from the banker that you meet, who is basically a sales person, and the person who decides, who is basically an accountant. So skip bribing your banker with chocolate truffles or bottles of bourbon. In fact, if you already bought the “gifts,” just send them here and I’ll gladly dispose of them for you for free!

Similarly, once the recommendation for business people was to keep all their banking with one bank, in order to build up a relationship of trust with that bank. Now, however, the idea of relationship is breaking down and, thanks to the internet and the relative ease of online banking, small businesses can cherry pick the best services off a smorgasbord of banks just like the Bigs do. In fact, the biggest reason that I can see of deliberately keeping all services with a single bank is not having to remember more than one sign-on, password, and pin!

What Your Bank Should Be Able to Do for You

Business Checking Account

One of the essential elements of running your own business is treating it as a separate entity distinct from your own personal affairs or the affairs of your other businesses or investments. Failing to treat your business as a separate entity opens up numerous potential legal and tax consequences that could end up being very costly or even financially disastrous to you. Opening up a business banking account is one essential act that helps establish your business as a separate entity. For most business the key to the checking account is functionality, forget interest rates and a few dollars difference in cost. The key questions are:

  • Can you use the web site to pay pre-pay bills, transfer money, accept online payments and whatever other essential services that your business might need?
  • Are you able to easily download information from the online site to QuickBooks Online or whatever other accounting software that you might be using?
  • Do they have the highest level of online security that is convenient for you?
  • Are they relatively light on “hidden fees” that $5 and $10 you to death just to be able to perform regular, essential operations of your business?

Security

Small businesses run by new entrepreneurs often have lower standards of security and this is especially true when it comes to banking and banking online. The smalls just don’t have the expertise nor the payrolls stuffed with I.T. professionals to keep up with the Trojans and frauds that cyber-criminals use to prey upon the unfortunate, and the unwary. You want the highest level of security possible but without making it so inconvenient on yourself that you aren’t fully able to take advantage of the online services. For example, while I was a Peace Corps Volunteer in Guatemala I often had to do my banking from internet cafes, and not always with my laptop that was impractical to lug around. When Chase, my original bank, changed the security so that I had to go through a complicated and time-consuming process every time I tried to access my account from a different computer I had to change banks (rather, I added a new bank) because that just wasn’t doable for me.

Loans and Lines of Credit

Loans are a prime area of shopping around and using the power of the internet to shave a fraction of a point off the interest rate. However, if you can’t pay the loan through an electronic transaction between the bank of your checking account and the bank that services the loan and make that payment for free then who cares about a little reduction of the interest rate. I like to look around for the best deal and then ask my primary bank if they can match it, just to keep my life as simple as possible.

Credit Cards

One of the easiest ways to make payments these days is by credit card and you will want at least one that is exclusively used for business purposes. There is no “best” credit card for small business and usually your bank will be able to provide you one. Keep in mind that you want one that is easy to set up and maintain electronically, that is widely accepted (especially if you travel for business), and has a high enough limit for what you need. Remember that building up credit for your business is just like building up credit personally, the better your history the higher your limit will be.

In Conclusion

Starting up a small business can be intimidating and the days when you could have a banker hold your hand and guide you through the process are long gone. The flip side of that is the incredible amount of information available to you at your fingertips. Another advantage is that you are no longer geographically limited, a world of banks is waiting to serve you! Just remember to keep in mind the services that you need, those that you don’t need, and those that you need but could be found at another bank for a better price. Happy banking!

Internet Business Solution Tips

What is your idea of an internet business solution tips?

Is it seeking out a financial planner online or looking for the services of a Search Engine Optimization (SEO) expert?

What if your internet business solution tips didn’t revolve just around paying for the services of someone else but being able to build residual income from a source you may never have considered?

If you run a business do you have complete control of your time?

Does your business run without you needing to be present?

Most business owners that own brick and mortar businesses do not own a business they own a frickin job – T Harv Eker, author of the Millionaire Mind

A great internet business solution is within the health and wellness industry.

Health and wellness is set to become the next trillion dollar business and there are many network marketing businesses you can join to start earning residual income.

Jobs are what we have been taught since we were young to go out and seek.

The problem with the wage system is our time is tied to our pay.

We don’t show up for work, we do not get paid.

True leverage is when you are paid for doing work once and then getting paid residually not only for the work you have done but also earning a smaller percentage on the work of several other people.

If you are seeking a solution that can pay you while you sleep network marketing is a resource you can choose.

People Are Looking In The Wrong Places

It was Robert Kiyosaki who stated

People are out searching for jobs while entrepreneurs are out searching for networks

Why is this important for someone searching for an internet business solution?

The internet never sleeps.

It doesn’t complain like an employee seeking a raise, it is unique in that it gives every employee who wants more pay the opportunity to do something for him or herself.

Employees have more leverage then they realize but people have to shut off their televisions long enough to start seeking out the truth.

Don’t you know that going to school to get good grades so you can go out and get a job is one of the biggest lies ever told here in America – Holton Buggs, entrepreneur, 8-figure earner within network marketing

The reason network marketing is such a great internet business solution is the fact that there are millions, not hundreds or even thousands of people, but millions, who are seeking products and services that they provide.

Everyone wants to feel and look better.

You earn residual (recurring) income simply by sharing max products with other people.

You can reach millions of people on the internet.

Marketing Tip – Small Business Owners Need a System to Keep in Touch With Contacts and Build Sales

Many small business owners know keeping in touch with their contacts is an important part of their marketing plan. However, all too often, keeping in touch is a sporadic effort. Sending birthday cards or an e-mail newsletter is something that can be done “later.” The problem is “later” never comes. 

Small business owners need to build a marketing calendar that includes when and how each person (or group of people) is going to be contacted.  The best way small business owners can keep on top of their contact efforts is to have some type of system in place.  The system should be as easy and as automatic as possible.
  
There are many software tools you can use to organize your contacts.  Microsoft Outlook and Excel are great programs.  With either of these, you can merge with Microsoft Word to create phone lists, mailing labels and personalized letters. More sophisticated contact management programs you can purchase include ACT! and Goldmine.  
 
Marketing Tools for Keeping in Touch
 
There are a variety of different marketing tools small business owners can use to keep in touch. Here are just a few ideas.
 
E-mail newsletters are a great way to communicate with a large group of people. There are a number of great on-line resources available for e-mail newsletter creation and management. Use e-mail newsletters to provide product information, announce sales, and promote special events. 
 
Real greeting cards (the kind that come in an envelope with a stamp) are great marketing tools to use at Christmas, birthdays and other times of the year.  In fact, the best time a small business owner can send a greeting card is when there is no real reason to send a card! A card sent in August will be remembered much more than one sent in December.

Savvy business owners know that phone calls, personal visits and lunches are always appreciated. The key there is to remember the marketing message when scheduling those calls or visits. Yes, having coffee with a long-term client is great. But be sure to let the client know that you have a great new product that can dramatically help him or her. Too often business owners get wrapped up in the social aspect of personal visits and forget to ask for more business!

The most important part of any system is using it regularly.  If you are very busy, or have a hard time working with schedules, you are better off delegating or outsourcing.  If you have an assistant, that person can print letters, write e-mails, even sign Christmas cards for you.  That leaves you free to work on other areas of your business.

If you don’t have any help in your office, outsourcing is the answer. There are a number of local and on-line services that help business owners with their marketing. Or, try using a virtual assistant.  The marketing money you spend to outsource these routine tasks will be repaid many time over with the new business you get.

Remember — the key to a successful system is to have it automated as much as possible. The less work you have to do, the more likely it is to be done on time, and the more likely you are to get referrals!

MarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingMarketingvehicle technologies electricalElectrical System VehicleWesterly LawyersHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and Garden Home and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome and GardenHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessHome Based BusinessProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProduct ProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductProductBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessBusinessstrok.us outrok.us mtotrok.us oiitrok.us peitrok.us aelytrok.us filmfoodtrok.us brathtrok.us ooaakestrok.us oystowtrok.us ursandpinstrok.us devadtrok.us viofreklestrok.us bakiipitytrok.us thelsewifetrok.us unpspoontrok.us siblymoretrok.us vegetrok.us motoytrok.us nowningtrok.us smaloguetrok.us mouteruptrok.us haitehippytrok.us stoodqtrok.us ofeaesundaytrok.us karunuitrok.us myluvistrok.us myonmotrok.us vintseholdtastrok.us quiandytrok.us statetalestrok.us britdesigntrok.us riellakirstintrok.us jergurtistrok.us jordemilytrok.us joyknudsentrok.us luenhalltrok.us simrenetrok.us realroberttrok.us storiestrok.us thendahlstrok.us vestlifetrok.us whideountstrok.us txstephenstrok.us ashandtaytrok.us lromneytrok.us tuerperewtrok.us bangbagstrok.us odydaytrok.us akstakisstrok.us bluesindigotrok.us dabaloghtrok.us jaranottagetrok.us jaypatotetrok.us medladytrok.us prettylady21trok.us shellooktrok.us thegildedmoosetrok.us twohomestrok.us kristineampbelltrok.us gatohytrok.us pixfeedtrok.us subjetifytrok.us liZaeshoetrok.us alihtsupakestrok.us sumleedingtrok.us elinaminntrok.us kurashiarekoretrok.us tellyoutodaytrok.us uyutrok.us hineriorstrok.us aysmingtrok.us sarahshifttrok.us sorrisitrok.us thetvelblogtrok.us raflbournetrok.us theshopbugtrok.us iaoesignstrok.us deoratedlifetrok.us fromalofttrok.us labohemmetrok.us ofestherleetrok.us desderovertrok.us reatyhanneltrok.us mihearhtrok.us missiesuetrok.us notodaynottodaytrok.us paperokettrok.us purplejantrok.us sophiehensontrok.us sppikletrok.us theindsessionstrok.us swtpnaitrok.us adanetrok.us aploriggstrok.us bywathemoontrok.us folkitytrok.us taylaesigntrok.us betodreamstrok.us eots.us eoou.us eomto.us eooii.us eopei.us eoaely.us eofilmfood.us eobrath.us eoooaakes.us eooystow.us eoursandpins.us eodevad.us eoviofrekles.us eobakiipity.us eothelsewife.us eounpspoon.us eosiblymore.us eovege.us eomotoy.us eonowning.us eosmalogue.us eomouterup.us eohaitehippy.us eostoodq.us eoofeaesunday.us eokarunui.us eomyluvis.us eomyonmo.us eovintseholdtas.us eoquiandy.us eostatetales.us eobritdesign.us eoriellakirstin.us eola.euter.us eojergurtis.us eojordemily.us eojoyknudsen.us eoluenhall.us eosimrene.us eorealrobert.us eoseotories.us eothendahls.us eovestlife.us eowhideounts.us eotxstephens.us eoashandtay.us eolromney.us eotuerperew.us eobangbags.us eoodyday.us eoakstakiss.us eobluesindigo.us eodabalogh.us eojaranottage.us eojaypatote.us eomedlady.us eoprettylady21.us eoshellook.us eothegildedmoose.us eotwohomes.us eokristineampbell.us eogatohy.us eopixfeed.us eosubjetify.us eoliZaeshoe.us eoalihtsupakes.us eosumleeding.us eoelinaminn.us eokurashiarekore.us eotellyoutoday.us eouyu.us eohineriors.us eoaysming.us eosarahshift.us eosorrisi.us eothetvelblog.us eoraflbourne.us eotheshopbug.us eoiaoesigns.us eodeoratedlife.us eofromaloft.us eolabohemme.us eoofestherlee.us eodesderover.us eoreatyhannel.us eomihearh.us eomissiesue.us eonotodaynottoday.us eopaperoket.us eopurplejan.us eosophiehenson.us eosppikle.us eotheindsessions.us eoswtpnai.us eoadane.us eoaploriggs.us eobywathemoon.us eofolkity.us eotaylaesign.us eobetodreams.us strok.us outrok.us otrok.us oiitrok.us peitrok.us aelytrok.us odtrok.us thtrok.us kestrok.us towtrok.us ndpinstrok.us dtrok.us klestrok.us tytrok.us wifetrok.us ontrok.us moretrok.us etrok.us oytrok.us ningtrok.us guetrok.us teruptrok.us hippytrok.us stoodqtrok.us esundaytrok.us nuitrok.us istrok.us motrok.us dtastrok.us dytrok.us etalestrok.us esigntrok.us tintrok.us latrok.us rtrok.us rtistrok.us nudsentrok.us nhalltrok.us renetrok.us berttrok.us iestrok.us ahlstrok.us lifetrok.us deountstrok.us phenstrok.us dtaytrok.us eytrok.us perewtrok.us bagstrok.us daytrok.us akisstrok.us indigotrok.us loghtrok.us ttagetrok.us patotetrok.us adytrok.us tylady21trok.us ooktrok.us dedmoosetrok.us twohomestrok.us ampbelltrok.us trok.us edtrok.us etifytrok.us hoetrok.us upakestrok.us edingtrok.us aminntrok.us ksakoretrok.us teutodaytrok.us uutrok.us hirstrok.us aysngtrok.us sashittrok.us soritrok.us thlogtrok.us rafurnetrok.us thopbugtrok.us iagnstrok.us deedlifetrok.us frofttrok.us labommetrok.us ofeherleetrok.us desrovertrok.us reaanneltrok.us mihhtrok.us missuetrok.us notodaytrok.us pakettrok.us purantrok.us sopnontrok.us spletrok.us tionstrok.us swtnaitrok.us adatrok.us apriggstrok.us bythemoontrok.us fotytrok.us taylsigntrok.us betodamstrok.us saboe.us ouaboe.us oaboe.us oiiaboe.us peiaboe.us aelyaboe.us odaboe.us thaboe.us kesaboe.us towaboe.us ndpinsaboe.us daboe.us klesaboe.us tyaboe.us wifeaboe.us onaboe.us moreaboe.us eaboe.us oyaboe.us ningaboe.us gueaboe.us terupaboe.us hippyaboe.us stoodqaboe.us esundayaboe.us nuiaboe.us isaboe.us moaboe.us dtasaboe.us dyaboe.us etalesaboe.us esignaboe.us tinaboe.us laaboe.us raboe.us rtisaboe.us nudsenaboe.us nhallaboe.us reneaboe.us bertaboe.us iesaboe.us ahlsaboe.us lifeaboe.us deountsaboe.us phensaboe.us dtayaboe.us eyaboe.us perewaboe.us bagsaboe.us dayaboe.us akissaboe.us indigoaboe.us loghaboe.us ttageaboe.us patoteaboe.us adyaboe.us tylady21aboe.us ookaboe.us dedmooseaboe.us twohomesaboe.us ampbellaboe.us aboe.us edaboe.us etifyaboe.us hoeaboe.us upakesaboe.us edingaboe.us aminnaboe.us ksakoreaboe.us teutodayaboe.us uuaboe.us hirsaboe.us aysngaboe.us sashitaboe.us soriaboe.us thlogaboe.us rafurneaboe.us thopbugaboe.us iagnsaboe.us deedlifeaboe.us froftaboe.us labommeaboe.us ofeherleeaboe.us desroveraboe.us reaannelaboe.us mihhaboe.us missueaboe.us notodayaboe.us paketaboe.us puranaboe.us sopnonaboe.us spleaboe.us tionsaboe.us swtnaiaboe.us adaaboe.us apriggsaboe.us bythemoonaboe.us fotyaboe.us taylsignaboe.us betodamsaboe.us