Is Your Business Ready for 2021?

It’s been a challenging year for everyone, and unfortunately business owners have been greatly affected. With that fact in mind, it isn’t a bad idea to equip your company in advance for 2021. By reviewing what you’ll need to run smoothly and recuperate any losses — you’ll be ahead of the game in the first quarter. Here are tips to safeguard your establishment from any unnecessary pitfalls. 

Budget

Most business owners recognize the importance of setting a budget for the year and in some cases, a few years out depending on your service model. Given the unexpected shifts that occurred in 2020, it’s smart to look as far into the future as you can. Take time to reevaluate how you’d like to allocate funds based on supply, demand and other commerce variables. Can you avoid lay-offs if something happens? Can you hire a full staff again? Do you need to cut back or increase the volume of product? These questions can help guide your strategic planning for the new year.

Payment Systems

With the changing landscape of modern business in mind, it’s important to stay up-to-date with payment systems. Soon, most transactions will be entirely digital to add ease for both the buyer and seller. Research the common methods to accept payment, regardless of whether you’re a small or mid-sized company — and stay abreast on what’s upcoming. For example, e-checks are a convenient way to transfer funds for secure transactions and at ValidCheck: it’s our speciality!  

Website Updates

As businesses continue to adjust to health protocol and required conditions, many places are updating customers daily and weekly! To stay current, make sure to roll out website and social media updates pertaining to your company as they arise. Double check that operating hours are accurate and contact information is relevant. Eliminate frustration by posting pertinent information as soon as you get it and maintaining open communication channels.

Digital Security

Another key way to ensure that your business is prepared for a new year of operations, is to consider the security of your payment interfaces. Scammers become more clever with time, but there are ways to combat this! If you allow checks as a form of payment, consider going entirely digital for the ease and protection of both you and the consumer. Contact ValidCheck to learn about how we prevent forgery, data falsification and transaction delays — this will make the overall service experience more secure!