CrossCheck Blog

It’s a rite of passage for many young fathers: buy a boat and take your kids out on the water to enjoy the sun and the rippling currents. Depending on their age, maybe even let them steer on occasion. And despite a difficult economy, that rite of passage seems an enduring tale.

Whether it’s a big job or a small job, window installers have to respond, ready with a quote and payment options. In the big picture, according to research done by Principia Consulting, repair and remodel volume for windows is expected to grow at an annualized rate of 5.3% through 2023. Of course, that doesn’t really take into account little Billy, who kicked his soccer ball through the new kitchen window.

Demand for both residential and commercial garage doors is expected to increase 4.5% next year, boosting the garage door business to a $3.6 billion industry in 2022. The calculus is fairly simple: add a lot of value to a home by investing a relatively small amount. Whether it’s “lipstick on a pig,” or the final beautification of a home for sale, the garage door business is booming and customers are waiting.

A recent study by the Federal Consumer Financial Protection Bureau (CFPB) has determined that the issuance of credit cards has declined significantly since the start of the COVID pandemic. According to the study, the success rate of credit card applications dropped from 45 percent in January 2020 – the start of the COVID pandemic – to approximately 30 percent a few months later.

With an increasingly uncertain world, the pace of change is swift and becoming more rapid. This is why risk management is more important than ever before, and adaptability by companies is key. Businesses must balance the need to be open for commerce while taking measures against the extra financial risk in the marketplace. This is the essence of our business model — CrossCheck helps reduce the risk of accepting checks so your business remains whole as it conducts commerce. Not every negative event can be avoided, but the right approaches will allow companies to respond effectively in crisis situations and potentially even thrive. Furthermore, businesses must find a way to simultaneously safe guard against COVID-19 in 2020 while avoiding financial risk.

CrossCheck, the leading privately held check guarantee company in the nation, is celebrating the success of its merchant customers during National Small Business Week 2019. The recognition coincides with challenging times for merchants who continue to thrive amidst ongoing threats from online giants, increasing overhead and new labor shortages. CrossCheck provides these merchants with guaranteed payment solutions that help increase sales and mitigate risk while saving time and money.

One of the most famous books on running small businesses is called The E-Myth, which was written 30 years ago by Michael Gerber. He used to have an office just down the street from us here in Petaluma, but he has since moved to sunnier climes. The book sold 150,000 copies when it came out and Gerber was featured on many television talk shows. His successor book, The E-Myth Revisited, is one of the five top-selling business books of all time. It has been translated into 27 languages and is required reading in some MBA programs. In a nutshell, Gerber says it’s a myth that most people who start small businesses are entrepreneurs, and also have tangible business skills.