Magazine Article | June 17, 2014

Overcome Analysis Paralysis And Do Something

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By Mike Monocello, editor-in-chief, Business Solutions magazine
Follow Me On Twitter @monocello

When I started with this magazine eight years ago, I remember how I struggled writing certain articles. Sure, I was “green,” and I lacked understanding of certain topics, but the POS industry was also in a pretty quiet phase, and there weren’t a lot of exciting angles to take with articles. At the time, I had no idea we were in a lull, and I certainly didn’t expect what was coming.

I’m not saying there were no innovative technologies or solutions a decade ago. But there also wasn’t anything like the perfect storm of technology innovation, convergence, business strategy changes, and price drops VARs have experienced over the past few years. How exciting!

Wait, you’re not excited?

Excited are the ones creating the technology innovation. Excited are the ones leading the convergence of technologies. Excited are those adopting and promoting new business strategies.

Odds are, if you’re not excited about what’s taking place, it’s because all this change is threatening. It’s happening to you, rather than you being an active participant. Or, you’re a participant, but an unwilling one being dragged along. If this is you, these changes put you at a disadvantage. Your business and livelihood are in jeopardy.Subscribe to Business Solutions magazine

The Time For Change Is Now
I can understand your hesitation. There have been so many changes and so much disruption that it’s easy to get paralyzed. Where should you place your bets? How big an opportunity is mobile? How does the cloud fit into retail? How can you make money selling an iPad-based solution? Here come customer engagement solutions! Are these new technologies for small retailers, big chains, or both? Sell EMV! Don’t forget to sell payment processing. Free POS could ruin you. Free POS will save you. Move into new markets. Add complementary solutions like IP video surveillance. While you’re figuring all this out, change your business model to sell everything as-a-Service. Figure out for yourself how to handle the cash flow issues since the majority of vendors don’t have programs in place to help you.

OK, I get it. Heck, I’ll even admit to adding to your indecision with the many “focus your business here” articles we publish.

I’ll admit to throwing a lot at you, but the truth is, there really is a certain amount of urgency around these things. Today’s opportunities won’t last forever, and we want our readers to win the day.

That’s the point of this Annual Guide To POS & Payment Processing. What you’ll find in this guide is an assortment of advice from leaders in the industry to help motivate you and, hopefully, stimulate action. You might not be able to take advantage of every opportunity for change that exists, but there must be one or two that you can get moving on. Don’t let the overwhelming amount of change paralyze you.

Because we recognize that there will be a need for traditional POS for the foreseeable future, we’ve also included an all-in-one POS terminal product review. Last year, we reviewed a handful of terminals based on a minimum technical specification (i.e., price wasn’t an issue). In this guide’s reviews, we told vendors to send us their most powerful unit that didn’t exceed $1,300 (dealer cost). The results are pretty amazing.

Finally, in the second half of the guide you’ll find contributed content from a variety of vendors that want to help you make sense of the opportunities and threats out there.

Allow the words in this guide to be the catalyst for change and help in bringing your company to a new level of success. We want to enable you to cut through the hype and give you the confidence and ability to trounce your competition.

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