Page 31 - GS220401

Education

ness. A new locale can mean move by settling one group per month. After the first group, those who
increased competition, but follow will learn the area and new surroundings faster because they
that's good; it indicates your will learn from those who moved first.
product or service is sought
after. In the right location, you • Encounter costs and inconvenience. Moving involves expenses and ex-
can have greater opportunity tra work not just for your company but also for your employees. Help
to hire high-quality profes- where you can. If you can afford to pay your employees' moving ex-
sionals seeking work in your penses, do so. If not, pay for what you can afford to ease the stress of
industry. moving. Professional moving companies can expedite moves and ease
the transition.
• Reduce your operating costs:
The potential to reduce op- • Lose clients/customers: This is a concern of many businesses, but de-
erating expenses is usually a pending on your industry—especially in the payments space—your
primary motive behind mov- location shouldn't matter. That's a big perk in our sphere: you can be
ing. One example is state in- anywhere and conduct business anywhere using today's technology.
come tax: Illinois residents are
taxed at 5 percent; in Tennes- Nicholas Cucci is the co-founder and COO of Fluid Pay LLC. Cucci is also a graduate of Benedictine
see it's 0 percent. Right away, University and a member of the Advisory Board and Anti-Fraud Technology Committee for the
there is a 5 percent increase Association of Certified Fraud Examiners, as a Certified Fraud Examiner himself.. Fluid Pay is the
in pay just for moving. Add ONLY 100 percent cloud-based Level 1 PCI Payment Gateway processing transactions anywhere in
to that cheaper property tax- the world. Contact Nick at Nick@FluidPay.com.
es, etc., and savings add up
quickly. These factors all need
to be investigated when select-
ing a location. And one ques-
tion to ask yourself is, will
money lost during the transfer
be recouped in the long term?

• Gain valuable space: If you
are used to operating in tight
quarters, depending on where
you're moving to, chances are
you can spread out a bit and
have built-in room for future
growth, which in turn will
save you money. You can dis-
play products; separate divi-
sions, as needed; add new
services, and even add new
equipment if needed.
Cons to relocating your company
Following are potential cons to a relo-
cation. You might:
• Disrupt production and fam-
ily routines: When employ-
ees and their families move
out of state, it's a lot to handle
in a short period of time, but
disruption doesn't have to
be significant. I recommend
sending people in waves over
time, not all at once. Being
flexible helps. It takes one to
two weeks before things set-
tle down and people begin to
get acclimated. Space out the

31