Entrepreneurs are often associated with a certain type of spirit. A persevering opportunistic DO EVERYTHING because that’s what we’ll have to do, go getter attitude. One key characteristic an entrepreneur must have, (as written by Jun Loayza) is the ability to execute, and I agree. The ability to take an idea and build it to the point of sale is powerful. Entrepreneurs often have several different streams of income as they are constantly looking for business opportunities. It’s because of this every business minded person needs to have Square (PS. it’s FREE).
Square (not the old SNES company) gives the opportunistic entrepreneur, whether you own a hot dog stand, a small physical business, couch or offer physical services, like a athletic trainer, masseuse, musician etc, the ability to accept credit cards on the spot, without a merchant account (or much technical setup) with an array smart phones and devices.
The idea is brilliant, the company (and website) is top notch, the applications for the service are versatile. Signing up is free, (the card reader is also free!), and you pay less per transaction than typical merchant accounts. (merchant accounts are the most widely used way to accept a credit card) You are only charged if you make money.
I like these types of business model, don’t you?
Watch the YouTube below to instantly “get it” and get started here, why wouldn’t you? It costs nothing unless you are making money, and with your business ideas flowing, it’s finally time to execute…or “borrow” your friends credit card and force him to finally pay you the $5 he owes you, but that’s up to you.
Square is a valuable tool to have in your pocket (literally) providing an extra layer of value for potential customers.
What applications could use Square for?
More Information about Square that people usually have to track down.
- You sign up through your mobile application, not the website which could confuse the first time user. See here (https://squareup.com/get-started) to get started, not the main homepage. The signup process is incredibly easy and well designed, as is the website backend once you’ve created an account.
- Square is available for iPhone, iPod touch, iPad, Nexus One, Motorola Droid, Motorola Droid X, HTC Droid Incredible, HTC Evo, HTC Hero, and the Samsung Vibrant.
- Square’s card processing fees are:
- 2.75% + 15¢ for swiped transactions
- 3.5% + 15¢ for keyed-in transactions
- There are no activation, gateway, monthly, early termination, or hidden fees.
- Square works with any US-issued credit, debit, pre-paid, or gift card from Visa, MasterCard, American Express, and Discover.
- In order to get paid, you need to link a bank account to your Square account.
- Square is near the final round of their “under writing” a fancy term for figuring out how to handle so many credit card transactions. They are about to start shipping the free readers, now’s the time to jump in and sign up. I guarentee this service is going to blow up.