The Business of Online Marketing

Payment Setup or How to get Paid

In this chapter we're going to discuss about how to get paid. With your business set up it's time to open a new business bank account. This is different from your own personal checking or savings account because it's primarily used for your business.

In fact you need to keep them separate when it comes to tax season. When bank you choose to use is really up to you. It really boils down to choosing the one that you feel most comfortable with. You have to be sure to look for deals and other Sign-Up perks; these day things are more and more competitive. And obviously the banks all want your money.

The smart ones are going to offer various incentives for you to sign up with them. Some people are going to tell you that you should sign up with a bigger bank because it carries more weight but it doesn't really matter. It's often the smaller more local banks actually that will give you better rates in the end that are perks and a much better customer service than in fact they many times I'll even know you by name. Just be sure to do your homework on this.

It really boils down like I said choosing the bank that you feel most comfortable with your bank information handy what you can do then is set up your online payment processing. And this is going to how this is going to be how you're going to take your payments from your clients. In fact your bank may offer an online payment solution to get started but PayPal works perfectly.

PayPal is very well known; in fact you've probably already heard it you're probably already familiar with it and it's very easy to use.

And more importantly your clients are familiar with it. They've heard it and they know that it's easy to use. Their rates are pretty comparable to anything that your bank will offer. And they also offer a lot of free services like and this is the best one re-occurring billion which is what you really want with each and every client you want every. Remember when we went over the numbers you want 20 or 50 or 100 or 200 people.

I'll give you $500 a month automatically. And that can happen when you set up recurring pain with PayPal. You just go to PayPal.com and then you go to their business section and then you just follow the steps and within about five to ten minutes you will be set up in no time. And actually with this you will have everything that you need to take payment online.

And then you can even incorporate this right into your website so you will encounter some clients who will want to pay a check or I want to pay cash. So usually this is the very small client and it's the very big client obviously taking checks means you have to go to the bank or some banks now offer scanning services where you can do it all from your phone but don't be discouraged if someone wants to give you a check or even cash in some cases. The key though is just make sure that you have a great billing system set up so that you can track everything on your end and that you can send out an invoice every month with that great thing about pay bills that it does that all for you and you don't even have to think about it.

But when if someone's taking is going to be paying you via cash or especially cash or check. Just make sure you have a great billing system set up. This is actually going to lead to setting up your bookkeeping system and to keep things simple. You can use cookbooks. It works great.

They have both software you can download or you can use their monthly services online. Either one works great. It's simple to use and it's as complex as you need it. So it's as simple as you need it and as complex as you need it based on your particular business you will spend some time setting this up probably a solid two or three hours. Make sure you get all of the details right. That's your financial information of book.

But once you get it going once you get that kick started it will become part of your monthly ritual and pretty much that'll be it. And then as you grow of book then you're able to take on maybe a bookkeeper whether it's a part time or full time bookkeeper. They'll of book handle this for you. And one last thing that you have to think about.

So with that you will have your financial information set up you will be able to take recurring payments from your clients. Now you will be set up online.