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TThe U.S. economy is doing well, with indicators showing strong growth and profits. However, this isn’t necessarily good news for brick-and-mortar store owners, as this expansion doesn’t seem to be spilling over to them. His joint PYMNTS and Enigma study, released last August, shows the dire situation for these small and medium-sized businesses (SMBs).
PYMNTS notes that “More than 50% of Main Street small businesses do not have readily available funding sources to weather a cash flow crisis. This leaves small businesses open to alternative financing options to keep them afloat in the short term. “This highlights the dire need for options.”
PYMNTS, the global leader in payments and financing data, news, and insights, also notes that “the smaller a business is, the less likely it is to have immediate access to emergency financing options and the less likely it is that it will run out of cash.” “The risk of bankruptcy increases if the Insufficient flow. ”
Paul Alex Espinoza, founder of Merchant Automation, has helped more than 3,000 aspiring entrepreneurs in the U.S. launch or scale their businesses since January 2021. This success would lead to him earning over $28 million in the three years since he launched multiple startups. He uses his cash flow to build an online presence on social media, helping hundreds of thousands of people start their businesses every day.
Espinoza offers a helping hand to sellers looking for alternative funding sources. Recognizing that they are struggling with finances and cash flow, he leverages ideas from his unique skill set and experience to reach out to these diverse business owners.
You are a successful innovator who has built a successful business. You’ve made quite a career change from being a police officer protecting citizens on the streets to being an entrepreneur running a growing company. It seems like a lot is happening right now.
yes! There are certainly a lot of moving parts. We are currently growing our team and this new company, Merchant Automation. I’m essentially trying to reach and influence more small business owners. I’m just trying to have a ripple effect and help more people.
You run a company with another former police officer, Gedam Jonas. How did two former city police officers come up with a technical idea to improve merchants’ profits and solve cash flow problems?
yes. A few ordinary people like Gedam and I were able to figure this out, bypassing all the tech-savvy digital gurus, and we were able to do it in a short amount of time. I think this opportunity is a new American dream. It’s an untapped market.
I always tell people about success. It may sound difficult in our culture, but as you know, business is actually easy. All you have to do is find a simple concept and implement it. But we make it so professional ourselves that it looks complicated.
What suggestions can you make to solve the cash flow problems for these small businesses? How can they find more sources of income without working harder than they already do?
Most small business owners don’t know how to reduce hard costs and generate passive income using techniques that banks and large corporations have used for years. We offer the same old basic seller services that have been around for years. However, we place great emphasis on our cash discount program.
Here’s how it works: Less than 5% of sellers nationwide currently use the program. But those people can get all their credit card processing fees down to zero. The big hope behind this is that merchants currently pay hundreds to thousands of dollars a month in credit card processing fees, which typically ends up being paid by merchants in overhead costs. about it.
All business owners need to do is eliminate all credit card processing fees. You can then give cash discounts to customers who choose to pay with cash. Otherwise, the actual credit card processing fee will be paid by the client, so this program is called a cash discount program. This is a great win-win program for sellers.
There are so many people who say, “I didn’t know about this program.” Banks and big companies won’t tell you this. Why should I say that? They already have your business. So what is the incentive for big banks and other merchant services companies to tell you about this? Telling small business owners that, losing out on fees is a big hit in their pockets. will give.
What do they need to do to do that? Sounds complicated. Is there a big learning curve?
Not at all. That’s where my company comes into play. Companies like Merchant Automation book a merchant-entrepreneur looking to start his service and provide him with a credit card terminal for a one-time flat fee. This is such a great concept that anyone can get into this business and install as many credit card terminals as they want, and each time they install a credit card terminal, they get a balance every month. You can install a terminal in any business and forget about it. That’s what’s amazing. You don’t have to go there every month to top up money like you would with a traditional ATM.
Customers are also concerned about the safety of carrying cash these days. That’s not a problem anymore. Additionally, this is a simple credit card terminal and comes pre-programmed. We have support staff and training available. It’s a program that anyone can participate in because everything is included.
We also help business owners with marketing. We are a start-up company. We understand the vision and want to do good business. We want to help small business owners and that’s why this service is so powerful.
Paul Alex Espinoza has also written a book. From blue to digital gold: the new American dreamprovides a detailed blueprint for small business owners to grow their business and improve cash flow.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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