B2B Vault: The Biz To Biz Podcast

B2B Vault: The Biz To Biz Podcast

By Allen KopelmanBusinessEntrepreneurshipTechnologyMarketingManagement
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B2B Vault: The Biz To Biz Podcast episodes

  • The Power of Bookkeeping - Unlocking Success For Business Owners | B2B Vault | Episode 162

    Are you a business owner looking to take your success to the next level? In this episode, we dive deep into the power of bookkeeping and how it can unlock new opportunities for your business. Discover practical strategies, tips, and tools to streamline your financial processes and make informed decisions that drive growth. Don't miss out on harnessing the true potential of bookkeeping!

    Join us on a journey to unlock the secrets of business success through the power of bookkeeping. We explore the indispensable role of bookkeeping in managing your finances, tracking performance, and optimizing profitability. From setting up a solid bookkeeping system to leveraging technology and data analysis, we provide valuable insights and expert advice to empower you as a business owner. Get ready to unleash your full potential!

    Welcome to another episode of B2B Vault - The Payment Technology Podcast. , we will delve into the world of business ownership and provide valuable insights to help business owners thrive.

    While bookkeeping is not the most glorious aspect of running a business is one of the most important things you need for success and growth, and it is crucial when tax time arrives. 

    What does bookkeeping do for your business?

    • Privies a financial snapshot  
    • Recording transactions  
    • Banking 
    • Credit Cards – paying bills 
    • Writing checks or paying by ACH 
    • Tracks all of your bank accounts 
    • Income  
    • Spending  

      • What tools can you use? 

      • Quickbook 
      • Xero  
      • Freshbooks 
      • Zoho  
      • To name a few  

        • Accurate bookkeeping is important!  

        • You can get a good picture of your business  
        • Profit and loss statement 
        • Balance Sheets 
        • Money owed 

          • When will you need this info?  

          • When you want to get a better merchant account   
          • Lower rates 
          • Loans 
          • Need an investor  

            • If you have a retail store or restaurant – it is good to use a point-of-sale system and track your inventory.  

            • Track your buying and plan 
            • Find out your best-selling items  
            • When are your peak sales days  
            • Payroll is another aspect of bookkeeping.  
            • Pay yourself – many who did not – did not get PPP money. 

              • You can make better business decisions – and understand your cash flow. 

              • Save money on merchant fees – get higher limits on your merchant account. 
              • Attract an investor 
              • Makes it easy to work with a bookkeeper – CPA – Accountants  
              • They will cost you less money – as there will be less for them to do when you have good financial records saving you money and making thing more efficient. 
                • 41 min
              • Breaking News: How Visa's Credit Card Changes Impact Small Businesses | B2B Vault | Episode 161

                Visa, one of the largest credit card companies in the world, recently announced a series of changes to its fees and policies that are having a significant impact on small businesses in America. These changes include new fees for certain types of transactions, as well as new rules around chargebacks and fraud. In this podcast episode, we'll explore how these changes are affecting small businesses across the country, and what steps they can take to mitigate their impact.
                To start, we'll provide an overview of the changes that Visa has made to its fees and policies. According to Visa's website, these changes are designed to "better align Visa's fees with the value delivered to clients and the costs associated with providing Visa products and services."
                One of the biggest changes that Visa has made is the introduction of new fees for certain types of transactions. For example, merchants who accept credit card payments from international customers will now be charged a fee of 1.5% for these transactions. This is in addition to the standard interchange fee that merchants already pay on all credit card transactions.
                Another change that Visa has made is around chargebacks. A chargeback occurs when a customer disputes a transaction and requests a refund from the merchant. In the past, merchants were able to challenge these chargebacks and potentially avoid having to pay the refund. However, Visa's new rules make it more difficult for merchants to successfully challenge chargebacks, which can be costly for small businesses.
                Finally, Visa has also introduced new rules around fraud prevention. Merchants who experience a high level of fraudulent transactions may now be required to pay a fee for each transaction that is deemed fraudulent. This fee is designed to encourage merchants to take proactive steps to prevent fraud, such as using advanced authentication technologies or monitoring their transactions more closely.
                One of the biggest challenges for small businesses is the new fees that Visa is introducing for certain types of transactions. For example, small businesses that sell products or services to international customers may now face an additional 1.5% fee on these transactions. This can add up quickly, especially for businesses that rely heavily on international customers. For some small businesses, this fee increase can mean the difference between profitability and operating at a loss.
                Small businesses are also feeling the impact of Visa's changes to chargebacks. As we mentioned earlier, chargebacks occur when a customer disputes a transaction and requests a refund from the merchant. In the past, merchants were able to challenge these chargebacks and potentially avoid having to pay the refund. However, Visa's new rules make it more difficult for merchants to successfully challenge chargebacks, which can be costly for small businesses.
                This is particularly problematic for small businesses that rely heavily on credit card transactions. For example, a small online retailer that sells clothing may experience a high volume of chargebacks due to fraudulent activity or customer disputes. Under Visa's new rules, this retailer would be required to pay a fee for each of these chargebacks, which can quickly add up and eat into their profits.
                Finally, small businesses are also feeling the impact of Visa's new rules around fraud prevention. While preventing fraud is certainly a worthy goal, some small businesses are finding it difficult to implement the necessary measures to avoid these fees. For example, small businesses that lack the resources to invest in advanced authentication technologies or hire additional staff to monitor transactions may struggle to avoid these fees.

                38 min
              • Boost Your Small Business Success with These Expert Tips | B2B Vault | Episode 160

                Welcome to B2B Vault, where we dive into the world of financial technology, small business, payment processing, and entrepreneurship and share valuable insights to help you thrive as a business owner. In this episode, we'll discuss essential aspects of running a small business, providing you with actionable tips and strategies to overcome common challenges.

                Marketing Your Business:
                Discover practical ways to market your business and reach your target audience. From traditional advertising methods to harnessing the power of social media platforms, we'll explore various marketing approaches that can propel your business to new heights. Stay tuned for game-changing ideas and discover how frequently you should adapt your marketing techniques to stay ahead of the competition.
                Embracing Technology:
                Unlock the potential of technology for your business. Learn how to leverage artificial intelligence (AI) to automate tasks, streamline processes, and enhance customer experiences. We'll also discuss the benefits of having a credit card machine or a point of sale system and whether it's the right time to upgrade. Additionally, discover how adopting eco-friendly practices like using digital receipts can reduce paper waste, in alignment with recent events like Earth Day.
                Financial Budgeting for Small Business:
                Gain insights into effective financial management strategies for your small business. We'll explore popular accounting software like QuickBooks and discuss the advantages of hiring a bookkeeper or waiting until the year-end to handle financial matters. Discover the importance of planning your tax payments and the advantages of utilizing a payroll provider. Furthermore, we'll touch on the significance of choosing the right banking partner and explore the services that credit unions offer to support your business's operational needs.
                Navigating Legal and Regulatory Compliance:
                Dealing with legal and regulatory compliance can be daunting, but we're here to guide you through it. Learn about the laws that can impact your business, such as the requirement for workers' compensation when you exceed three employees. Understand the implications of requests from vendors to add them to your liability policy and the associated costs. Additionally, we'll shed light on the challenges faced by CBD merchants, including restrictions on shipping to certain states. Stay informed to ensure your business operates within the bounds of the law.
                Fostering a Positive Company Culture:
                Discover the importance of cultivating a healthy company culture. As a business owner, your role as a boss is crucial in creating a positive atmosphere for your employees. We'll discuss effective hiring and firing practices, as well as ways to set achievable goals and expectations. By focusing on building a strong company culture, you can foster loyalty, productivity, and success within your organization.
                If you found these tips helpful, don't forget to give this video a thumbs up and subscribe to our channel for more insightful content. Share this video with fellow small business owners who could benefit from this valuable information. Together, let's empower small businesses to thrive and succeed.

                1 hr 3 min
              • Is it time to upgrade your point of sale system? | QuickBooks POS (Point-of-Sale) calls it QUITS! | B2B Vault | Episode 159

                In today's episode of B2B Vault, Allen & Justin are diving deep into the world of financial technology discussing the announcement by QuickBooks POS, and asking the burning question, "Is it time to upgrade your point of sale system?" Trust me, you won't want to miss out on this one!

                In this video, we'll be shedding light on the importance of staying ahead in the ever-evolving realm of point of sale systems. Whether you're a small business owner or an aspiring entrepreneur, this is the perfect opportunity to gather some valuable insights. So, grab your favorite snack, get comfy, and let's embark on this knowledge-packed journey together!
                Throughout the video, we'll be delving into the various signs that indicate it might be time for you to upgrade your point of sale system. We'll cover everything from outdated hardware to limited functionality and the need for better analytics. We'll also explore the potential benefits that come with embracing modern point of sale solutions.
                We'll provide you with real-life examples and practical tips to help you make an informed decision. Our aim is to empower you with the knowledge to take your business to new heights. So get ready to gain a competitive edge in the market by embracing the wonders of cutting-edge point of sale technology.
                Don't worry if you're new to the topic; we've got you covered! We'll break down complex concepts into easy-to-understand terms, ensuring that everyone can follow along and learn something new. By the end of this video, you'll be equipped with the know-how to evaluate your current point of sale system and determine whether an upgrade is the right move for you.
                So, my friends, make sure you hit that "subscribe" button and turn on the notification bell, because you definitely don't want to miss our captivating exploration of the question, "Is it time to upgrade your point of sale system?" Get ready to take your business to the next level! Join us on this exciting adventure, and together, let's unlock the full potential of modern point of sale technology. Trust me, you won't be disappointed!
                Remember to leave your comments and questions below; we love hearing from our amazing community. Until then, stay curious, keep learning, and I'll catch you in the video!
                Upgrade Your Point of Sale System with Nationwide Payment Systems!🌟
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                👉 Are you tired of dealing with outdated and sluggish point of sale systems? Upgrade to the latest technology that simplifies your transactions and enhances customer experiences. 💪💼
                ✅ Say goodbye to manual data entry and errors. With Nationwide Payment Systems, streamline your operations and manage your inventory seamlessly. 📊✨
                💰 Plus, take advantage of our limited-time offer! Trade-in your old POS system and receive incredible discounts on our state-of-the-art QuickBooks POS solution. 🔄💯
                🔥 Unlock these amazing benefits:
                ✅ Faster checkout process
                ✅ Inventory management made easy
                ✅ Enhanced customer satisfaction
                ✅ Real-time sales tracking and reporting
                🌐 Visit our website today to learn more about our QuickBooks POS Trade-In Program and revolutionize the way you do business! 💻📲
                👉 Don't miss out on this opportunity to boost your sales and streamline your operations. Upgrade your point of sale system now! 🔝💼
                #NationwidePaymentSystems #POSUpgrade #QuickBooksPOS #BusinessEfficiency #StreamlineOperations #BoostSales #LimitedTimeOffer

                46 min
              • PayPal VS. Merchant Account | PayPal or a Merchant Account? | B2B Vault | Episode 158

                As an expert in the payment technology industry, I can confidently say that PayPal and merchant accounts both have their pros and cons. Let's start with PayPal.
                PayPal is a popular payment processor that allows businesses and individuals to send and receive payments online. One of the biggest advantages of using PayPal is that it's easy to set up and use. With just a few clicks, you can start accepting payments from customers all over the world.
                Another advantage of using PayPal is that it's widely recognized and accepted by consumers. This means that customers are more likely to trust and use PayPal to make purchases, which can ultimately lead to increased sales for your business.
                However, there are also some disadvantages to using PayPal. For one, PayPal charges fees for each transaction, which can add up over time. Additionally, PayPal has been known to freeze accounts or withhold funds for various reasons, which can be frustrating for businesses that rely on those funds to operate.
                Now, let's talk about merchant accounts. A merchant account is a type of bank account that allows businesses to accept payments from customers using credit and debit cards. One of the biggest advantages of using a merchant account is that it gives businesses more control over the payment process.
                With a merchant account, businesses can choose which payment processor to use and negotiate lower transaction fees. Additionally, businesses can access their funds more quickly than they would with PayPal, which can be important for cash flow management.
                However, setting up and maintaining a merchant account can be more complex than using PayPal. Businesses will need to work with a bank or payment processor to set up the account and ensure that it meets all regulatory requirements. Additionally, businesses will need to be vigilant about fraud prevention, as they will be responsible for any fraudulent transactions that occur.
                In conclusion, both PayPal and merchant accounts have their advantages and disadvantages. As a business owner, it's important to evaluate your specific needs and weigh the pros and cons of each option before making a decision. If you're looking for a quick and easy way to accept payments online, PayPal may be the best choice for you. However, if you want more control over the payment process and are willing to put in the time and effort to set up and maintain a merchant account, it may be the better option.

                1 hr
              • The Future of Cannabis Payments: Unlocking the Green Economy - 420 Special | B2B Vault | Episode 157

                Hey everyone, welcome back to our channel! Today, we're going to dive into a topic that's been making headlines recently: cannabis payment processing. As you may already know, the cannabis industry has been growing rapidly in recent years, and with that growth comes the need for reliable payment processing solutions.
                So, why is cannabis payment processing such a hot topic? Well, for starters, the federal government still considers cannabis illegal, which makes it difficult for cannabis businesses to access traditional banking services. This has led to many businesses in the industry having to rely on cash transactions, which can be dangerous and make it difficult to keep accurate records.
                But with the rise of payment processing solutions specifically designed for the cannabis industry, things are starting to change. These solutions provide a secure and reliable way for businesses to process payments and manage their finances, without having to rely on cash.
                There are a few different types of payment processing solutions available to cannabis businesses. One popular option is a cashless ATM, which allows customers to make purchases using a debit or credit card, even though the transaction is technically processed as a cash withdrawal. Another option is a mobile payment app, which allows customers to make purchases directly from their smartphone.
                One of the biggest advantages of these payment processing solutions is that they provide increased security for both businesses and customers. Because cash transactions can be risky, having a secure and reliable payment processing solution can help reduce the risk of theft and fraud.
                So, there you have it, folks - an overview of cannabis payment processing. As the cannabis industry continues to grow and evolve, it's clear that payment processing solutions will play an increasingly important role in the industry's success. If you're a cannabis business owner, contact Nationwide Payment Systems and they can help you get the right merchant account for your cannabis related business. And for everyone else, keep an eye on this exciting industry - who knows what developments we'll see next! Thanks for watching, and we'll see you in the next video.

                38 min
              • Say Goodbye to Paper Invoices: The Benefits of Electronic Invoicing for Your Business | B2B Vault | Episode 156

                Attention business owners and entrepreneurs! Are you tired of the hassle of paper invoices? It's time to make the switch to electronic invoicing and start using technology to your advantage! Not only will this save you time, but it will also save you money in the long run. Plus, electronic invoicing is more environmentally friendly!

                So, what exactly is electronic invoicing? Electronic invoicing, or e-invoicing, is the process of sending and receiving invoices electronically, rather than on paper. This means that instead of printing and mailing out invoices, you can send them directly to your customers' email inboxes or accounting systems.
                One of the biggest benefits of electronic invoicing is that it saves you time. With electronic invoicing, you can automate your invoicing process, which means you don't have to spend time manually creating and sending out invoices. This frees up your time to focus on other important tasks in your business.
                Electronic invoicing also saves you money. By automating your invoicing process, you can reduce the number of errors in your invoicing and avoid late payments, which can lead to additional costs. You can also save money on printing, paper, and postage costs.
                Another benefit of electronic invoicing is that it's more environmentally friendly. By reducing the amount of paper you use, you're helping to conserve natural resources and reduce your carbon footprint. This is not only good for the environment, but it can also improve your brand image and reputation.
                So, how can you streamline your invoicing process and make the switch to electronic invoicing? First, you'll need to contact us and we can help find you the best electronic invoicing solution that works for your business. There are many options available, including online invoicing software and invoicing apps.
                Once you've chosen an electronic invoicing solution, you must set up your invoicing process. This may involve integrating your invoicing software with your accounting system or setting up automatic invoice reminders. We can help with that as well.
                Finally, you'll need to communicate with your customers about the switch to electronic invoicing. Let them know how they will receive their invoices and provide any necessary instructions.
                In conclusion, electronic invoicing is a great way to streamline your invoicing process, save time and money, and reduce your environmental impact. Don't wait any longer to make the switch to electronic invoicing. Say goodbye to paper invoices and hello to the benefits of technology!

                35 min
              • What should businesses be doing in the current economy? | Financial Lieracy Month | B2B Vault | Episode 155

                Looking to improve your financial literacy? Tune in to our latest podcast episode, where we discuss all things money-related in honor of Financial Literacy Month. Listen now and level up your financial game!


                In these uncertain times, businesses need to be nimble and adaptable to stay competitive. In this video, we share practical tips and strategies to help your business not just survive, but thrive in the current economy.

                Let's talk about what businesses should be doing in the current economy.
                We can take lessones from the downturn in 2008-2009.
                Cash is King! If you have good cash flow, start stock piling some of it away. When interest rates go up access to cash gets harder.
                If you need to borrow there is no time like the present.
                Credit cards - cut back on your credit limits.
                Where should you stash your cash? Many banks are actually paying interest in money market account, CDs, and Savings accounts, Even some of the investment banks like Chase and Charles Schwab are also paying interest, and some apps like RobinHood, Betterment and a few others.

                #FinancialLiteracyMonth #Podcast #MoneyMatters


                35 min
              • Big Changes are coming from Visa and the Card Brands! | Cash Discount | B2B Vault | Episode 154

                Significant Changes are coming from Visa and the Card Brands!

                Starting April 15th 2023: Visa and Card Brands are changing the rules.

                • What you need to know as a business owner:
                • Don’t get caught with your pants down – you must pay attention to this.
                • The scary news is surcharge is changing to 3% from 4% - should you worry about that?
                • Numerous programs say – to pay 0% for credit card processing and pass the fee to your customers.
                • Which program you use is the question you need to ask.
                • Some companies give their program a name, and some do not.
                • Also, what signage do you have at your business or on your invoices?
                • Which program are you on?
                • Surcharge?
                • Cash Discount?
                • Non-Cash Adjustment?
                • Dual Pricing?
                • What does your signage say at your business?
                • Surcharge?
                • Get a discount when you pay with cash?
                • Do your receipts and or equipment show cash price and credit price?
                • Everyone needs to check and see if you need to update your equipment, program, and signage before April 15th; all processors are ready.
                • Do you need new technology? Are you ready to make a change?

                  • Today technology is the driver that makes our lives easier, helps us run our businesses, and more!

                  31 min
                • Silicon Valley Bank Banking Crisis: What you need to know! | B2B Vault: The Payment Technology Podcast | Episode 153

                  Welcome to Fintech Friday!

                  Today we are diving into the banking mess with three banks going under.

                  We talk about what happened and what the government is doing about it.

                  The winners - Depositors getting all their money back even though 80% of them had over $250K which is the FDIC insurance limit.

                  The losers -Bank Executives and Investors Bank Executives and board members were all fired. From the rest of the fallout and news - someone should go to JAIL.

                  Investors - Are not getting their money back. It is lost. One Investor, Kevin O'Leary, AKA Mr. Wonderful from Shark Tank was all over every news outlet saying he lost over $10 Million

                  Right now, many tech companies, Saas companies, and startups are looking for a backup bank relationship and possibly merchant services.

                  Hope everyone enjoys this podcast - we will probably have part two as more of the story is exposed.

                  29 min

                About B2B Vault: The Biz To Biz Podcast

                From the publisher's feed

                B2B Vault: The Biz-to-Biz Podcast with Allen Kopelman 


                Welcome to B2B Vault: The Biz-to-Biz Podcast — the go-to show for business owners,…

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