D AVE SAYS
Dave,
My husband and I own a small business. We’ve been open for 12 years, and fortunately we’ve been very successful. We made the decision when we first opened to run the business debtfree. Along with that, we onlyacceptcash,checksand debit cards for payment. Recently, we’ve had a client become very insistent that we start accepting credit cards. Our relationship with this client is becoming a little contentious over the issue. How should we address the situation?
Debra Debra,
Like we, as entrepreneurs, don’t have enough things to worry about every, single day, right?
As you might imagine, I have a bunch of people who are mad at me all the time because I don’t accept credit cards. But in my case, it’s not just a business decision. I teach people all the time not to use credit cards, and why they shouldn’t. So, I can’t very well go around encouraging folks to just swipe their credit cards when they buy from my company.
For starters, that client is way out of bounds. It’s not their place to tell you how to run your business. But you’re lucky to only have one person getting pushy about the whole credit card deal. Everything about the credit industry today is out of control. But even though your case is a little different than mine, you have every right to not accept credit cards—especially if you have a moral or values-related issuewiththeproduct. As time goes by, you’ll probably have a few other peopleturnuptheirnosesat the idea of not being able to pay with a credit card, but if you consistently offer great services or products at great prices, those experiences will only be a bump in the road. You don’t want to be argumentativewhenthings like this happen, so maybe you can just smile, and let them know you always appreciate input from your clients.
I’m sure you and your husbandworkhardtomake your business the best it can be. The fact that you’re still around over a decade after opening up shop is proof of that. You’ve probably realized, too, that being in business for yourself isn’t all sunshine and rainbows every day. Regardless, no one has the right to get in your face over how your business is structured or try to push you into doing things differently. Listening to, and evaluating, suggestions from clients only makes sense. It’s a smart thing for any business owner to do. But this one client is saying you should change a long-standing operating principle based on a whim—their whim.
And that’s not okay.
—Dave Dear Dave,
I’m currently on Baby Step 2 of your plan, and I’m six months away from being debt-free, except for my home. Recently, I’ve run into an issue with my sister, who has a good job, but continually makes poor choices with money. Over the last six months, she has also asked to borrow money from me and others in our family several times, including again yesterday. I don’t want to be cruel, but the whole issue has gotten out of hand. How do you think I should approach her about this?
James Dear James,
Handling issues like this can be complicated, especially whenfamilyorfriends are involved. But honestly, I think you should just tell your sister the truth. Keep it simple. Let her know you’re trying to get out of debt and change the way you handle your finances, so you don’t have extra money sitting around. Explain to her, too, that part of this is you’re not playing around withdebtanymore,andthis means you won’t be loaning or borrowing money again. Make sure you do this with a kind spirit, James. Most people in your sister’s position already know deep down that they’re making bad decisions. So, it’s important that you talk to her in a gentle, caring way. See if you can get her to talk about what’s really going on with her money. You could even let her know you might consider giving her some money as a gift if you had any extra lying around—and you knew she was in control financially. But you’re not really helping someone who’s financially incompetent, or just plain immature, when you give them cash or even loan them money.
You’re not helping someone if you participate in their misbehavior with them, so you’ve got to look at the big picture in situations like this. Your sister hasn’t just hit a hard time, with lots of unexpected expenses or a job loss. Right now, her behavior with money isn’t just a bump in the road, it’s a lifestyle.
Sometimes you have to love someone enough to sit them down, and tell them the truth. Even if it’s family, that can also mean saying no and telling them it’s time to straighten up and start acting right.
—Dave