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10 Top Reasons Why Sellers Lose Lots of Money During POS Transactions

It’s Tuesday, September 18, 2018. Time is 2pm in the afternoon. A client walks into a retail shop to buy merchandise. Purchase is concluded and it’s time to pay. Client brings out her ATM Card and motions for the POS device. Cashier hands over the POS device to the customer after inserting the ATM card into POS device along…

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How to Write a Competency-Based CV

One very easy way to get your dream job is having a well written Skills-based CV; a kind of CV also referred to as a Competency-based CV or resume. As business consultants, Human Resources recruiters, trainers and employers for many organizations, we have discovered that many skilled candidates do not know how to write captivating CVs and some do…

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How to Get A Job and Keep It!

Getting your dream job is easy if you know how to go about it. Sadly, many job seekers do not know how to get the kinds of jobs they desire and many others settle for the usual “there are no jobs nowadays” byline that we hear every-day and everywhere! Truth is, there are thousands of jobs out there, the…

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Failed POS Transactions: How to Avoid Losing Your Hard Earned Money to Banks(Merchant’s Perspectives)

Is Your Bank Stealing Your Money?

Merchants (sellers, service providers, mall owners or retail traders etc) lose lots of money when using POS devices/systems to take payments for goods sold or services rendered. Some reasons why such losses occur include genuine, but time-bad and false chargeback claims, ineffective processes in controlling,reconciling and review of POS transactions on a daily basis and,  manual processing interventions (from…

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POS/ATM Transactions: Is Your Bank Stealing Your Money?

How to Avoid Losing Your Hard Earned Money to Banks

        Its Friday, 20th July 2018. 11a.m precisely. The July rains are slowly drizzling outside the premises of the branch of a highly capitalized Nigerian commercial bank, Mrs Onome Arikpo (not real names) walks into the banking hall and heads straight to the customer services personnel, “Please am here again for my POS matter, you asked…

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Are POS Transactions the Greatest Threat to Finances of Retail Businesses?

ARE POS TRANSACTIONS THE GREATEST THREAT TO FINANCES OF RETAIL BUSINESSES?

The quick answer to this question is a resounding Yes and No! Yes, if you belong to the retail business sector that grapple daily, with the nightmares of transaction failures and unending chargebacks by banks; and No, if you belong to the banking sector or other E-payment organizations involved in the POS management chain. However, our research and experience…

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Why Do Retail Businesses Fail So Fast…Part 2

Why Do Retail Businesses Fail

Business Killer No 6: Inadequate Capital and wrong Application of the Available Capital As a retail business, you will hold inventory, either in your warehouse or shelves and inventory ties down money. Even if you want to stock “lean”, by holding minimal levels of inventory, your capital will still be tied down. Also, you will need assets e.g. computers…

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Why Do Retail Businesses Fail So Fast?

Critical Reasons Why Retail Businesses Fail

If you want your business to succeed, you’ve got to be deliberate about your strategy. You must know  that businesses do not just succeed, that they are made to succeed! You must know that though money is important towards the success of a business, it is not the main or the only reason why businesses succeed or fail; many…

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Critical Reasons Why Retail Businesses Fail

Critical Reasons Why Retail Businesses Fail

Apart from founder or management dysfunction and the many other factors kill retail businesses previously discussed, (see our previous posts here), technology, cash flow and treasury management dysfunction, failure to take care of your personal health and safety, poor inventory management practices, over-trading, over expansion without taking present capacity into consideration, are some very Critical Failure Factors that easily,…

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Causes of Retail Business Failure:The Critical Failure Factors (CFFs)…Cont’d

Building your strong retail brand is easy(if you know what to do or hire someone or organization who knows) but getting it to fail is even easier! No one establishes a business and deliberately runs it underground; however failure to adopt sound business success practices from experienced experts can very easily send your retail business downhill. As you are…

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