Making Money Online. How Will You Get Paid?
by Bruce Wood
Want to make money online, but confused about how you will get paid? There are a few things you should know before you jump into any business.
Whether you have your own business, or if you are selling products for others, (as in network marketing or MLM), you need a "Merchant Account" which is a service which allows you to accept credit cards. The merchant account is connected to a page on your web site which is an "order page" where your customer can pay you by credit card.
To make money online you need this service. It is how money exchanges hands on the Internet, via credit and debit cards. You need you own merchant account to process the cards and get paid.
If you are expecting to make money online in an MLM or network marketing company, your company may process all the orders for you. Often they have their own "corporate" merchant account connected to the web site which they give you to market their opportunity and products. In that case, you have convenience, but not control.
The advantage of having your own merchant account to make money online, if you are working with a company which allows you to have it (some don't) is that you are handling the money. That means that you are getting paid first, and then you give the company their portion.
If you must use the company-provided merchant account, then you will be in the position of having to wait for your money. So the issue will be how often they pay. Do they pay every week, month, quarter? And what is their accounting period? For example, do they pay for sales made in the previous week, or is there a delay? Some companies hold the money for several weeks or months for it to "clear" before paying their consultants. "Clear" generally means that the company's return policy has expired, and customers cannot get a refund.
Also, when you money online with your company's corporate merchant account, there is a question of what method they will use to pay you. What system does the company have to get the money to you? Do they send a check? Direct deposit? PayPal?
There are so many different ways which you can be paid. Many Internet business owners get discouraged because of the long delay between when they make their money and when they receive their funds.
So, before deciding on working with a network marketing, MLM or other company to make money online, ask the question of who will receive the money and how you will get paid. Make sure you are comfortable with the answer.
Bruce Wood is a public speaker, marketing guru and business owner. He has launched many entrepreneurial ventures including retail stores and internet businesses. Get his newsletter and e-book of questions about online marketing at his personal blog site http://www.BruceWood.Net/wordpress
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