Five Questions With: Gail Cavanaugh

"Business owners struggle with trying to keep a balance between profits and expenses so that they can be as cost effective as possible without have to pay exorbitant amounts of fees and rates in earning their income."

Gail Cavanaugh is a business consultant and life insurance agent based in Portsmouth. She spends her free time writing about finance and business.
Most recently, she penned a book called “The Retailers Guide to Merchant Services: From Storefront to Internet,” which aims to help startups better understand the ins and outs of finance in business.
Cavanaugh talked with Providence Business News about her book, why she wrote it and what she’ll do if 100,000 copies are sold.

PBN: Without giving too much away, would you give our readers a brief synopsis of your book?
CAVANAUGH:
Business owners struggle with trying to keep a balance between profits and expenses so that they can be as cost effective as possible without have to pay exorbitant amounts of fees and rates in earning their income. At the same time, they have to have a way to maintain a competitive edge. My book is for retailers and startup business owners who need to make decisions on how they are going to manage their revenue properly in order to realize gains.
PBN:PBN: Why did you write it?
CAVANAUGH:
This the second edition of an e-book I wrote several years ago to give some updates on the industry. The industry is highly regulated and enacts changes so often that it is imperative that business owners stay informed. This book covers a wide range of issues affecting business owners and where they can find answers all in one place.
PBN:PBN: What are some of the pitfalls startup businesses fall into when dealing with credit card processing?
CAVANAUGH:
Some of the pitfalls business owners fall into are in not asking enough questions of their merchant services representative, not taking time to understand their contracts, and changing carriers too frequently. All of these actions will incur higher costs for the business owner.
PBN:PBN: How about fraud?
CAVANAUGH:
There are some red flags that materialize when fraud is present. It is important that the business owner be alert to these clues in advance, which indicate that transactions may involve fraud of some kind. At times, the clues are not that apparent.
PBN: You are offering an interesting donation if you can sell 100,000 copies, would you tell our readers a little bit about it?
CAVANAUGH:
Yes, I am interested in giving twenty-five orphans and foster children the opportunity to have private piano lessons free for one year with the hopes that it will make a difference in their lives. I am also giving 10 percent of the proceeds to the CASA Advocates for Permanency Program in the State of Rhode Island so that more work can be done in keeping foster children safe and established in healthy home environments.

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