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Business

Merchant Account: What It Is, How It Works
Business

Merchant Account: What It Is, How It Works

What is a Merchant Account? A merchant account serves as a specialised business bank account enabling companies to handle electronic payment card transactions. To obtain a merchant account, a business collaborates with a merchant acquiring bank, which manages all electronic…
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April 19, 2024
Payment Gateway: What It Is, How It Works
Business

Payment Gateway: What It Is, How It Works

In the digital landscape of commerce, the facilitator behind secure online transactions is the payment gateway. Specifically in Australia, comprehending the nuances of this system is important for businesses transacting via digital payments. Let's cover the essence of a payment…
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April 8, 2024
Bartering (or Barter): What It Is, Benefits, Uses
Business

Bartering (or Barter): What It Is, Benefits, Uses

What is Bartering? Barter entails the exchange of goods or services between multiple parties without involving money or any monetary means like credit cards. Essentially, it revolves around one party providing a good or service in exchange for another from…
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March 24, 2024
Six Sigma: What It Is, Steps
Business

Six Sigma: What It Is, Steps

In the domain of quality management and process enhancement, Six Sigma is renowned as a potent methodology adopted by organisations worldwide. Initially rooted in the manufacturing sector, Six Sigma has proliferated across diverse industries, spanning services, healthcare, and technology. We…
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March 18, 2024
Trader: What It Is, What They Do
Business

Trader: What It Is, What They Do

For those captivated by the dynamic world of finance, the role of a trader beckons as an exhilarating and potentially lucrative endeavour. In this blog post, we will explore the general definition of a trader, the essential skills required, the…
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March 12, 2024
Warranty: What It Is, How It Works, Types
Business

Warranty: What It Is, How It Works, Types

A warranty is a significant aspect of consumer rights and product assurance in Australia. Whether you're a business owner offering warranties or a consumer relying on them, understanding what warranties are, how they work, and the provisions under Australian Consumer…
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March 6, 2024
Network Effect: What It Is, Pros and Cons
Business

Network Effect: What It Is, Pros and Cons

What is the Network Effect? The network effect denotes a situation in which the value of a product or service increases as more individuals or participants engage with it. The internet serves as a prime illustration of this phenomenon. Initially,…
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February 29, 2024
Salesperson turning a knob to select customer retention strategy instead of acquisition.
BusinessMarketing

New or Returning Customers: What’s Your Focus?

Customers, new or old, are crucial for running a successful business.  However, while all types of customers are equally important, their distinct characteristics require different marketing strategies.  Understanding these differences is essential for effective resource allocation and strategic planning. New…
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February 27, 2024

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