PayAnywhere Blog

So, you’re ready to strike out on your own as an entrepreneur. Congrats! You’ve made a brave decision – one that could solidify your financial future. To increase your chances at entrepreneurial success, however, it’s important to take a look at the past. Remember that many others before you have embarked on this same entrepreneurial journey. Here are just a few mistakes they’ve made that you’ll want to be sure to avoid…

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Setting a price for your products or services isn’t always as straightforward as it may seem. Because it’s such a major factor in customers’ choices, it’s something you may want to experiment with from time to time. While there’s a lot of guesswork and hit-or-miss attempts that can pay off big or fall completely flat, there are also some solid promotional pricing strategies that have proven effective for many business owners. Here are five of them.

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When you own your own business, you’re in a position to make a difference in the lives of others — with your product or service, by creating jobs and by giving back to those in need. Business owners are in a particularly advantageous position to help raise funds for charities, and that’s not limited to big corporations. In fact, about 70 percent of small businesses contribute to charity.

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People love gift cards, and they’re only getting more popular. In 2015, 93 percent of Americans said they’d either given or sent a gift card; by 2018 the gift card industry is expected to reach $160 billion. That’s huge, but does it make sense for your small business to offer them?

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If your social media strategy doesn’t include Instagram, you’re missing out on a wealth of opportunities. No longer is it just a bunch of pictures of people’s lunch, it’s a thriving platform packed with potential for businesses.

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