The day-to-day responsibilities of a startup founder are plentiful and time-consuming. From developing a mission and vision, to recruiting a trusted team of employees and executives, to sourcing initial funding—it’s nonstop. A common misconception of those looking to start their own business is that they must have the skills and time to do it all themselves. In the case of having a world-class payments solution, founders can turn to help.
Check out Stripe’s latest guide for nontechnical founders to learn how Stripe Payments can take the hard work out of implementing a payments solution, allowing entrepreneurs to spend more time doing what they do best: building a great product or service.
By using Stripe, entrepreneurs don’t need any technical background to master the key elements of launching and running a successful online company. Stripe offers a full stack of financial tools, from collecting payments to onboarding sellers and service providers. Stripe’s integration is fast and low-cost, reducing the complexity and time needed to build them in-house.
With Stripe handling the technicality of setting up a secure payments system, more time can be spent thinking about strategy and planning.
Getting started
Launching a new business isn’t easy. One of the most overlooked challenges—yet one of the most important milestones for any company’s journey—is making the first sale.
Stripe has a range of payment products that are exclusively dedicated to driving a startup’s first sale. With features like no-code payment buttons that can be embedded within emails and text messages, Stripe Payments has everything an entrepreneur needs to set up for success.
Making the checkout experience as simple and accessible as possible is critical. Online consumers today expect more from their checkout experience, and research shows that late-stage cart abandonment is one of the top causes of lost sales in today’s market.
Stripe’s payments guide can show founders how effortless implementing a top-class payments system can be.
Keeping loyalty front of mind
After making the first sale and growing a foundational customer base, it’s important to ensure the user experience is as seamless as possible to improve brand perceptions and increase customer retention. With the rapid growth of ecommerce in recent years, barriers to launching a business and reaching a global audience have certainly lowered, but it’s also raised the stakes and upped the competition in the market.
Maintaining growth and the ability to scale appropriately are important parts of any startup’s success story. However, there must be a separate strategy in place to retain your customers and reduce churn.
For startups, losing customers as a result of unoptimised experiences for repeat purchases is a simple, yet costly mistake—one that companies really shouldn’t be making in today’s booming ecommerce marketplace. Creating a seamless payment flow is essential in solidifying those customer relationships and ultimately building customer and brand loyalty.
Stripe’s subscription and invoicing product, Stripe Billing, offers key features such as a smart retry function which can help retain those vital return customers.
Not only is a seamless experience essential to building brand loyalty, it also builds trust between brands and customers. Stripe Radar blocks fraudulent attacks and minimises false positives so real customer transactions can succeed. It is a simple process that ultimately allows businesses to maximise their conversions by protecting their site.
Stripe’s nontechnical guide to payments is a must-read for any entrepreneur looking to learn more about payments and how to create a best-in-class customer experience to accelerate growth.
To learn more, download Stripe’s payments guide today!
