Will paper check acceptance at retail locations become a thing of the past?

Whole Foods is a leader in the retail food industry They may stop accepting checks at the point of sale-does this mean checks will become a dinosaur someday? This story in the LA Times may predict our future.
What do you think?

Now a few words from guest blogger Doug Campbell

As a CEO Coach and Business Owner, I am constantly looking for ways to make businesses more efficient and easier to operate. About 9 years we began accepting credit cards for our tutoring business (Sylvan Learning Center in Darien CT). It seemed like a big step at the time, and it was also potentially costly because our average charge is $100+. Nevertheless, it has been widely successful. Within 6 months 70% of our clients were using credit cards, and it is now close to 85%. The time spent preparing bills and mailing each month has been cut by 6 hours. The money is in the account almost immediately each month. Cash flow is less of a worry, and the rent check can go out on the 3rd of the month.

If you are a small business and still not using credit, reconsider the benefits in time, administration, and cash flow when you think through your strategies. If you are using credit, you should also periodically review your vendor – we lowered our fees substantially after 3 years with the first vendor and now receive better service. There are also incredible new tools to help you with cash flow and profitability in your business that are constantly being developed. Don’t let your competitors get a leg up on you. Make the time to talk to a credit expert – you will be surprised on the upside.

All the best.

Douglas Campbell III "The Success Coach"
203-975-0320 cell 203-952-1161
www.thesuccesscoach.com

Speaker * Author * Entrepreneur * Executive & Career Coach

Coaching Top-Performing Executives & Business Owners to Achieve Even Higher Levels of Success

The Success Coach on Networking (7) http://www.youtube.com/watch?v=boKH8yfYFNk

Business Conference Speech http://www.youtube.com/watch?v=_b61rV19JAk

The Success Coach, Business Expert, for Wells Fargo Bank on Onboarding New Employees

https://wellsfargo.imaginationdigitalmedia.com/business-insights/?episode=C7 (5)

Author Where To Go From Here: Reinventing Your Career, Your Business, Your Working Life (2009). It is available through Amazon, at Barrett Bookstore (Darien), Elm Street Books (New Canaan), and through the author as a book or ebook.