Starting a Business With Your Friends

Plenty of people have a great business idea but lack the funds or talent to get started. To get past this obstacle, many opt to open a business with close friends or relatives. While this is an excellent idea, one should follow these three simple rules when going into business with friends for the first time.

Accept credit cards: All too often, a person will have a great business idea but fail to attract customers. One reason why this happens is some companies do not open a payment processing account to accept credit cards. This is a dangerous mistake as merchant accounts will allow an organization, with ease, to accept all forms of payment from customers. Furthermore, with a payment processing service, one can take payments via the Internet, smartphone or over the phone. Remember, merchant accounts allow a business to accept payments and prevent the customer from leaving.

Business plan: Now, some people, when building upon an idea, fail to create a solid and readable business plan. This is a mistake for a few reasons. For starters, with a written strategy, one can outline the steps the business will need to take to find success. Furthermore, when looking for funding from a bank or lending institution, one will need to offer a documented strategy including all the financial information. Without this, a company will have a challenging task growing without serious problems. This is especially true when starting a business with friends or family members as problems will occur in the future.

Internet presence: To find customers online, one must understand Internet marketing techniques. To get started, one must buy a domain name related to the product or service of the business. This is only the beginning; the business owner must also set up an SEO strategy so the website can bring in visitors from organic search terms. Finally, to succeed on the Internet, one must use social media as it is a great way to attract clients from all around the world. When taking the time to do all this, the website should get plenty of traffic from interested and excited visitors.

When starting a company with friends, it is necessary to follow these basic rules as problems will arise in the future. Fortunately, when understanding the risks, one can increase their chances at success and experience fewer growing pains along the way.

Leave a Reply



It took me a while to decide who I wanted to settle with to handle all of my credit card transactions because every company wants to make it sound like they're offering you the best rates. was able compare and beat all of the other offers I received. They were also able to provide me the fairest price on my EMV-compliant terminal. My sales representative and the support team were there to assist every step of the way. Ultimately, I'm looking forward to a long term relationship with this company.

Roland Tran from the Hong Kong Kitchen

It is a pleasure dealing with these folks. Their pricing is fair, their statements are understandable and their employees are knowledgeable and friendly.

John MacMillian from the Great Lakes Baking Company

The service was very professional, my sales person (Steven B.) was very well versed in the product and most helpful in getting our company set up to accept credit cards via my cell phone. Their rates are some of the lowest on the market and their service is unparalleled. I will recommend them to anyone requiring a credit card processing service.

Michael Harper from Deluxe Auto Body

Jonathan C. is wonderful to work with. He is very helpful, accommodating and resolves any issue quickly. It is hard these days to find someone who gives great customer service, but I can say, Jonathan is the best! I would not hesitate to recommend him to any business owner and to assist you in helping to grow your business.

Linda Garner from Regali Da Forno

I called indecisive about getting a device, but speaking to your Sales Consultant completely settled me. He was very professional, knowledgeable and patiently walked me through the process. He always responded to my voicemails and answered all my questions. After I received my merchandise, he called following up to ensure that I had received it. Customer service I would say is 5 stars. Stellar! Thanks Credit Card Processing, I will definitely recommend you.

Sarah Morgan from Vision International Ministries
Call Us Today! (866) 837-0751

© 2016 All rights reserved. Privacy Policy
CREDITCARDPROCESSING.COM, LLC is a registered ISO of Wells Fargo Bank, N.A. Walnut Creek, CA

*Further terms and conditions may apply. Promotion contingent upon's receipt of written competing offer(s).

**Certain restrictions may apply.

Promotional offers brought to you by

Call (866) 837-0751 for details.