Office Max!

Click through for the youtube video on using credit cards to bootstrap your business.

It’s always nifty, of course, to run across somebody who truly “gets” what is happening in the land of microbusiness — especially since it seems to happen so rarely. But what’s better about Dr. Lahm is that he is an academic. And you know what that means, right?

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Read more from this blogger: Connecting the Micro Dots on Credit Cards

Credit cards are the least important treasure in this found wallet.

I found Dad’s certificate of honorable service from the US Army; a Kentucky Colonels card; about thirty business cards of various engineers from all over North America; two lists of important phone numbers; several credit cards; an insurance card for his 1980 Ford Pinto; a hunting / fishing license; drivers license that expired in 1990; and lots of scribbles and a few measurements. But one of the best surprises was finding the pictures he carried with him.

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Read more from this blogger: Hidden Treasure

The trials and tribulations of credit card processing for a small not-for-profit.

After a few months trying to work on a method through Costco’s Merchant Services (which use Nova) to accept credit cards for our upcoming auction, I found that they had difficulty with our status as a small non-profit. The IRS doesn’t require non-profits to file tax returns when the gross income is smaller than $25K and up until now, we have never broken that amount. So that was an issue.

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Read more from this blogger: Job as Treasurer

Good post on the basics of marketing on the Internet.

A third element in your strategy is how will you close and execute the sale. Will your website contain a shopping cart? What about a secure server certificate? Will you accept major credit cards or will you work through a third party? Designing your website with the customer’s ease in mind will make them want to return the next time they are interested in purchasing.

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Read more from this blogger: An Internet Marketing Plan Is Crucial

Small businesses do well to work with larger financial institutions for credit cards.

Larger banks are more likely to issue corporate credit cards to small businesses, which can be used for financing.

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Read more from this blogger: Banks expand services, perks for small firms

This is an old posting, but worth noting if your business deals with affiliate credit cards.

Some credit card thieves use stolen cards not to get merchandise, but to earn affiliate commissions. If you run your own affiliate program ,you need to be vigilant in watching out for suspicous transactions, and reversing both the transaction and the affiliate commission.

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Read more from this blogger: Barbara Feldman: Welcome to my Office: Affiliate/Credit Card Scam

You can start a business with credit cards, but be careful! A business credit card usually makes you the one liable for paying back the debt.

There are "potential risks and rewards for entrepreneurs who lean heavily on credit cards when starting up a business. Plastic can be useful for people who can't get loans from banks or family, or who are sitting on a can't-miss idea and just need some help getting over one big hump. But owners of less explosive businesses can get bogged down quickly in debt, especially if a missed or late payment prompts the card company to ratchet up interest rates. And even though entrepreneurs can open up card accounts in their business's name, they are usually personally liable for bad debt.

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Read more from this blogger: BizzBangBuzz - entrepreneur & small business blog of technology attorney Anthony Cerminaro: Credit-Card Financing Comes with Risks

Business Credit Cards can make your business - or break it. In a pinch, it may be the only financing option available. Use it wisely.

Ten years ago, Jason Olim and his twin brother, Matthew, took a gamble and racked up $64,000 in credit-card debt to expand their business: an online music retailer called CDnow. The Olims paid off the debt quickly, took the company public, and later sold it to Bertelsmann AG, the German media giant, for $117 million.

Sam and Ren�e Beckley also ran up thousands of dollars in credit-card debt to start their own business, a recording studio in Aurora, Ill. But they aren't quite millionaires yet. Although their business is growing, they're so mired in bills that they signed on with a debt-consolidation firm earlier this year. Between the debt and a hefty hospital bill, they expect it will take four years to pay off the $40,000 they owe.

These are the potential risks and rewards for entrepreneurs who lean heavily on credit cards when starting up a business. Plastic can be useful for people who can't get loans from banks or family, or who are sitting on a can't-miss idea and just need some help getting over one big hump. But owners of less explosive businesses can get bogged down quickly in debt, especially if a missed or late payment prompts the card company to ratchet up interest rates. And even though entrepreneurs can open up card accounts in their business's name, they are usually personally liable for bad debt.

"The issue is that almost all credit-card agreements have fine print with very sharp teeth," says Fred Wainwright, executive director of the Center for Private Equity and Entrepreneurship at Dartmouth's Tuck School of Business. "If you miss even one payment, the attractive terms can convert to over 20% annual interest rates and outrageously high penalty fees."

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Read more from this blogger: Lodgix: Credit-Card Financing Comes with Pitfalls Archives