A big hurdle that small businesses must clear when starting is how to deal with physical payments. Then layer on top of that the fees credit cards charge your business for each transaction (looking at you AMEX) and you have to wonder why it is still such a hassle to get a system in place.

But thankfully for small businesses everywhere, a physical payment revolution is gaining momentum. It’s roots lie in the introduction of Paypal long ago. Paypal integrated a payment system with the internet and now we are beginning to see that basic system branch out into mobile devices with the introduction of credit card applications for the Iphone and other mobile devices. Currently PayPal is playing catch up with other integrated web payment applications and is pushing hard to get developers to begin using their API and Software Development Kit (SDK) to create payment applications for the web that integrate with PayPal on the back-end.

Recently, the payment revolution was taken a step further with the introduction of Square, a mobile payment system that allows you to swipe credit cards with the “Square” hardware and any internet connected device that has the most ubiquitous input device around, the headphone jack. The innovations don’t stop there; Square also creates instant paperless receipts and supports cool instant payer verification feature that shows a picture of the person who owns the credit card being used.

Square is being brought to life (still in beta, so not quite “alive” yet) by Twitter co-founder Jack Dorsey as a way to simplify the process of accepting credit card payments. The service will be incredibly useful for small businesses that need to keep costs low and want to avoid the expensive initial and monthly cost of credit card payment equipment. Usually a credit card terminal will cost at minimum around $200. With Square, the hardware will be given away for free, yes, free. The cost of the hardware will be made up for by a small fee on each transaction; a portion going to the banks, a portion to square, and if you want a penny of each transaction to a cause of your choice.

What really separates this device from other credit card terminals is that there is no subscription fee, you don’t need a merchant account and it also shows the amount that the credit card company will extract from the transaction in real time. This is pretty valuable for businesses who usually have to wait until the end of the month, which is when the banks usually come in and take their cut for credit card transaction fees. Being able to settle to net in real time is pretty valuable to a cash strapped small business who is very budget conscious.

Seriously, this is going to be huge. Imagine being at an electronics store. You found exactly what you wanted right away, and now you have to wait in line to check out with one measly item. But wait! There is a random associate roaming the floor with a Square plugged into his or her smart device. “Let me ring you up right here sir/ma’am”, done. Or you just sold an expensive item on craigslist but the buyer doesn’t have cash. Well, you’ve got square and you take plastic! Done. No monthly fee, no merchant account, no expensive equipment, no problem.

Here at Rofo we help businesses succeed by helping them find the ideal commercial space. However, there are many other things a small business has to worry about after they find their space. Small business marketing is always a challenge and tough to quantify, especially during an economic downturn, like the one we are currently experiencing. So today we have a post from guest blogger Trynka Shineman, chief marketing officer of VistaPrint North America.  For more information on VistaPrint go to www.vistaprint.com.

Your small business is operating in a time where things are uncertain.  Business coming through the door might be spotty, customers seem to be spending less, and making the bills is a much bigger struggle than it once was.  But that doesn’t mean that customers aren’t out there to be had.  People are still spending money, and they still need what you’re selling, just like they did a year ago.  The key is doing the little things to bring in business, and that includes creative marketing.  You might think that marketing in a recession is impossible because of the costs, but staying on top of mind with customers and letting them know that you’re still there for them is paramount in a down economy.  Marketing to customers that you have already served, as well as working to bring in new ones can pay long term dividends through any economic downturn.  It also doesn’t have to be expensive if you have a little know how and creativity.

When most people think about marketing, they think that it’s going to be too cumbersome in terms of cost to achieve any kind of results.  The truth is if you use your creative mind and do things a little bit differently, you can still make a marketing impact while tightening your belt.  Here are a few things you can do to keep yourself out there and in the minds of customers for a very small investment.  Steps like these can be the difference between keeping your doors open and having to close up shop in tough times.
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