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Choosing a Business Partner

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When you are running a business you are a part of a team. There are many people involved. You need a partner who supports you in every aspects of your business operation. This does not have to be a single person who shares ownership of your business.

Partners could be your hosting provider who not only provides you space but also recommends you how to manage it. For instance, you are based out in the UK and you have x number of website visitors every week. Out of these x number of visitors, over 70% are from the USA. Now it makes more sense to have your servers in the USA rather than in the UK. While you signed up with this hosting provider you were setup with a European Data Centre server. Now since you have more North American visitors it makes sense to move your Data Centre to somewhere in the USA. This speeds up your website load. A web hosting company just offers you space. A hosting partner offers you valuable insights with good advice.

Partners could be VISA, Master Card or PayPal, your payment processing partner. You need to see these companies not just as someone who helps you to accept payments. You need to maintain a good relationship with payment processors. Your accounts must be in very good standing. For example, when you are shipping any items and if the payment is made using PayPal then consider updating PayPal with the tracking number. Inside PayPal there is a provision for this and ensure you update the tracking number immediately as possible.

PayPal if they are offering you a business debit card, then accept the card and start building a relationship. Do as much as transactions as possible to build credibility.  In most parts of the world building trust takes more time and money.

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