Why businesses should accept crypto

Cryptocurrency can now be used to pay for items at Starbucks, Amazon, Etsy, Tesla, and Home Depot among others. These trailblazers could find themselves in a strong position if crypto’s popularity continues to rise.

There will be some implementation costs for businesses when starting out, but the benefits below could far outweigh them in the long term.

Accessibility

Cryptocurrency is helping consumers around the world who face restrictions or suffer from limited banking infrastructures. It also facilitates international transfers quickly and easily without the need for exchange rates.

Cost efficient

The lower transaction fees that are associated with crypto transfers will benefit businesses that can save money on payment processing. By reducing overheads like this, businesses will be in a better position to offer competitive pricing which benefits the consumer.

Fast transactions

Transaction speed is more important than you might think, and slow payment processing can delay orders, returns, and refunds. All of these can impact customer satisfaction levels that dictate whether a customer will return to the site or recommend it to family or friends.

Faster transaction speed can also help businesses that rely on quick turnovers to invest in more stock or cover costs.

Increased security

Privacy and security are big concerns for the modern consumer and cryptocurrency provides both. Immutable transactions using blockchain technology and improved transparency provide consumers with peace of mind.

An option for customers to pay that doesn’t require them to trust sites with sensitive banking information has also been welcomed by those who want to enhance online privacy.

Expand customer base

Offering as many payment options as possible will give businesses the opportunity to reach more customers. Many consumers can be put off by limited options and will look elsewhere for businesses that offer their favorite.

Independence from centralized banking systems

Cryptocurrency is a decentralized alternative to traditional fiat currencies. This means that there is no central bank that controls transactions, instead networks of users verify transactions that are uploaded to the blockchain where they can be viewed by external auditors.

A decentralized currency provides autonomy to users and is an excellent option for consumers in unstable regions. Unstable banking environments can be a result of corruption, war, or unrest, and often leave citizens in these areas with little or no recourse.

Potential value growth

Businesses that accept cryptocurrencies typically favor the more established options like Bitcoin and Ethereum. This is because it is already proven and is less of a risk.

While cryptocurrency is still considered a volatile market that can experience significant fluctuations in value, some options are considered more stable than others. In some cases, businesses that accept a wider variety of cryptocurrencies could see the value of their holdings rise, helping them increase their sales profit even more.

Improved customer trust

The transparency that cryptocurrency offers its users is great news for legitimate, reputable businesses with nothing to hide. Because all crypto transactions can be viewed on the blockchain, it means that external audits can be carried out and there is no confusion surrounding business activities.

Businesses can use this to their advantage and position themselves as trustworthy brands that their customers can rely on.

Remove middle men from transactions

Peer-to-peer transactions are something that streamlines business and customer interactions. Most other payment methods will involve other parties like banks, and this can complicate matters unnecessarily, resulting in delays and additional costs.

Sending cryptocurrency removes any need for intermediaries and makes the whole payment process as simple as handing over cash.

Future proofing the business

Preparing for the future is never an easy task for any business, but adapting payment methods to suit digital transfers seems like a no-brainer. Crypto was once viewed as a novelty and something that would never last, but it has been around for 15 years now and is getting more popular every year.

The potential of a cashless society scares a lot of people who fear they will lose control over their assets and what they do with them. Cryptocurrency combats this and provides more independence and greater privacy. Businesses that take steps to embrace this now could see significant benefits in the coming years.

Mitigate the risk of fraud

The immutable nature of cryptocurrency means that when a transaction is confirmed, there is very little chance of this being reversed. This is great news for businesses that have been the victims of chargeback fraud.

Conclusion

Crypto might not take over the world just yet, but more and more companies are open to using it. Some of the world’s biggest and most famous brands have already started to accept crypto payments, opening the door for other businesses to follow.

Many online businesses face competition from around the globe, and offering potential customers as many reasons to do business with you as possible is in your best interests. Accepting crypto can also improve international transaction rates, with consumers able to make quick and easy payments without facing poor exchange rates or additional charges.

23 business risk quotes to give an extra boost

Here are some business risk quotes to reflect on in times when you are dealing with burnout and need extra motivation:

1. “When you take risks and they work out, they lead to new capabilities you never saw before.” – Tom Soderstrom
2. “Life doesn’t always present you with the perfect opportunity at the perfect time. Opportunities come when you least expect them, or when you’re not ready for them. Rarely are opportunities presented to you in the perfect way, in a nice little box with a yellow bow on top. … Opportunities, the good ones, they’re messy and confusing and hard to recognize. They’re risky. They challenge you.” – Susan Wojcicki
3. “A lot of times people look at risk and ask, ‘What are the odds that I will succeed?’ A different way to look at risk is to ask, ‘What’s the worst thing that would happen if I failed?’” – Dave Hitz
4. “Don’t be afraid to take big risks; they’re often the only way to achieve big rewards.” – Unknown
5. “I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not trying.” – Jeff Bezos
6. “If you are not in touch with your intuition, you cannot be successful. Data is great. But sometimes, even when you have all the data in the world, if you don’t follow your gut, you won’t discover the true potential and be able to recognize critical opportunities.” – Arianna Huffington
7. “By establishing milestones, gates, and questions along the way, you’re ensuring that you’re being smart about the risks you’re taking. And as hard as it is, you’ve got to be ready to say, “We are stopping.” – Ina Kamenz
8. “It is not the manager’s job to prevent risks. It is the manager’s job to make it safe to take them.” – Ed Catmull
9. “If failing is an accepted part of doing business and the blame game is not embedded in the organization, the risk is not perceived as a threat anymore. The emphasis is on learning from mistakes to not repeat them rather than being too timid to attempt something for fear of reprisals.” – Guido Laures
10. “The whole reason for risk is to innovate faster, and you do need failure to do it, but you need to fail in a way that leads to new understanding.” – Stuart Kippelman
11. “Taking a new step, uttering a new word, is what people fear most.” — Fyodor Dostoevsky
12. “In the world of business, the people who are willing to take risks are the ones who usually change how the game is played.” — Mark Zuckerberg
13. “Dare to risk public criticism.” — Mary Kay Ash
14. “Calculated risks are the secret ingredient to extraordinary success.” – Unknown
15. “Innovation is all about taking risks and facing the possibility of failure but learning from it to improve.” — Satya Nadella
16. “Risk comes from not knowing what you’re doing.” — Warren Buffett
17. “A ship is safe in harbor, but that’s not what ships are for.” — John A. Shedd
18. “It’s not because things are difficult that we dare not venture. It’s because we dare not venture that they are difficult.” — Seneca
19. “To achieve something significant in business, you must take calculated risks. Those who do not may avoid failures, but they also avoid success.” — Richard Branson
20. “Venture outside your comfort zone. The rewards are worth the risk.” — Engelbert Humperdinck
21. “Risk is essential. There is not growth of inspiration in staying within what is safe and comfortable. Once you find out what you do best, why not try something else?” — Alex Noble
22. “You miss 100% of the shots you don’t take.” – Wayne Gretzky
23. “Progress always involves risks. You can’t steal second base and keep your foot on first.” — Frederick B. Wilcox

Conclusion

The road to business success is paved with risks, but those who take smart, strategic risks with their eyes wide open will be best positioned to navigate that road and come out ahead. As these insightful quotes remind us, risk is an inherent part of the business field, and those who learn to harness its power are the ones most likely to thrive.

23 family business quotes to inspire you

Here are some quotes to reflect on in times when you are dealing with burnout and need extra motivation:

1. “If you work through the hard part and keep going, then the fun part begins. There’s always going to be challenges and opportunities to be better when working with family. But all the energy you put into your family shows, and all the energy you don’t put into your family shows, too.” – Cristina Carvajal 
2. “In striving for continuity in the family business, re-framing succession as ‘the appointment and development of a family to leadership’ rather than the ascension of an individual is the highest ideal.” – Philip Mackeown
3. “The strength of a family business lies in its ability to merge heart and strategy into every decision.” – Unknown
4. “When we took over, we made a pact that we wouldn’t argue about little things. We get along because the business is more important than who’s right and who’s wrong.” – Judith Lowry
5. “We have to collect our thoughts and desires and expectations for the business and share those with one voice instead of 100 different voices.” – Stacy Mello
6. “I don’t like the word ‘dynasty,’ but that’s what it is. It’s not just a business. There’s a lot going on in the background.” – Jake Dyson

7. “Building a family business is like writing a story where every member plays a vital role in its success.” – Unknown

8. “Tradition is like a bow. The more we stretch the bowstring, the farther we can throw the arrows of modernity and innovation.” – Giovanni Ferrero,
9. “There has to be a balance in life. A balance of business, family, and the opportunity to learn and teach.” – Chuck Feeney
10. “Family businesses thrive on the bedrock of trust and commitment; these aren’t just ventures, they’re legacies built over generations.” – Anonymous
11. “In a family business, every success feels like a shared victory, and every failure like a shared lesson.” – Emma Foster
12. “Maintaining a family business isn’t just about sustaining a company, but nurturing relationships and building a legacy.” – Richard Carlson
13. “Family businesses are like trees, they need strong roots and branches to withstand storms and keep growing.” – Carlos Gomez
14. “A family business isn’t just about profit, it’s about leaving a lasting impact on future generations.” – Teresa Wilson
15. “The greatest gift a family business can offer is the chance to build something meaningful with those you love most.” – Linda Patel
16. “Working with family demands patience, compromise, and a deep understanding that the business is part of a greater legacy.” – Martin Lopez
17. “Family businesses don’t just pass down wealth, they pass down values, traditions, and the spirit of entrepreneurship.” – Susan Kline
18. “Family businesses are built on shared dreams, where every setback is a chance to grow stronger together.” – Robert Anderson
19. “Legacy isn’t built overnight in family business, it’s woven over years of shared challenges and triumphs.” – Karen Johnson
20. “The heartbeat of a family business is the bond between its members, driving it forward through thick and thin.” – Victoria Simmons
21. “The beauty of a family business is the opportunity to intertwine personal growth with professional success.” – Laura White
22. “The real wealth of a family business is not its profits, but the unity, trust, and shared purpose it fosters.” – Unknown
23. “A family business is where legacy and enterprise collide, building a bridge between generations through shared values.” – Marcus Thompson

Conclusion

At the end of the day, a family business is about more than just profits. It’s about building something lasting and keeping treasured traditions alive. As Sam Walton, founder of Walmart, once expressed, “Our family may be the source of our greatest strengths, support and encouragement.” By harnessing the inherent strengths of family like loyalty, shared vision, and emotional investment, family businesses can achieve extraordinary things.

Pedestrian rights in Arizona

Despite these responsibilities, Arizona law provides clear protections for pedestrians. Pedestrians have the right to be protected against negligent or reckless driving behaviors. This right extends beyond crosswalks, as drivers are expected to exercise due care regardless of a pedestrian’s location on or near the road. For instance, in situations where a pedestrian might not be using a designated crosswalk but is visible to a driver, the driver is still obligated to remain cautious.

Pedestrians involved in accidents also have a right to seek compensation for injuries and damages caused by a driver’s negligence. Arizona is a “fault” state for accident claims, meaning injured pedestrians can pursue a claim against the at-fault party or their insurance. Compensation may cover medical expenses, lost wages, pain and suffering, and other damages resulting from the accident. In cases where multiple parties are at fault, Arizona follows a comparative negligence rule, which allows injured pedestrians to recover compensation even if they bear partial responsibility, provided their share of fault is not greater than that of the other party involved.

If a pedestrian is injured in an accident, legal recourse includes filing a personal injury claim. In that case, consulting with a pedestrian accident lawyer from Phoenix would be a smart move. They will guide you through the process of filing a claim and advise you on everything you need to do.

Typically, this involves demonstrating that the driver was negligent by failing to uphold the duty of care expected on Arizona roads. Legal proceedings in pedestrian accident cases often center around proving negligence, using evidence such as eyewitness accounts, traffic camera footage, and accident scene reconstructions to establish fault.

Business implications of pedestrian rights in Arizona

Arizona law provides clear protections for pedestrians while placing specific responsibilities on businesses. Commercial property owners and operators must ensure their premises are safe for pedestrian traffic, including properly maintained walkways, adequate lighting, and clear signage. This duty extends beyond basic compliance, as businesses face increased liability risks due to their commercial status.

For businesses, the state’s “fault” system for accident claims has significant implications. Commercial entities involved in pedestrian accidents may face not only direct liability but also potential damage to their reputation and insurance rates. The comparative negligence rule applies differently to commercial entities, often holding them to higher standards than individual drivers.

Common misconceptions about pedestrian laws in Arizona

Several misconceptions exist regarding business obligations in pedestrian safety. Many companies incorrectly assume their standard vehicle insurance fully covers pedestrian incidents, or that property insurance alone suffices for walkway safety. For businesses, proper risk management requires:

• Comprehensive commercial liability coverage
• Regular safety protocol updates
• Employee training programs
• Incident response procedures

The role of distracted walking and driving takes on additional significance in commercial contexts, particularly when involving company vehicles or business properties. Companies must develop clear policies addressing both employee behavior and public safety measures.

The role of comparative negligence

Arizona’s comparative negligence rule is crucial in pedestrian accident cases, particularly for businesses managing commercial fleets or properties. This rule allows for compensation to be adjusted based on each party’s degree of fault, directly impacting a company’s liability exposure and insurance premiums. For instance, if a pedestrian steps into the road outside a crosswalk but a company delivery driver is speeding, both parties may share responsibility, though businesses often face heightened scrutiny due to their professional status.

Under Arizona’s “modified comparative negligence” system, a party cannot recover damages if they’re more than 50% responsible for the accident. For businesses, this necessitates robust fleet management policies and employee training, as even minor incidents can impact insurance rates and risk profiles. This makes it essential for companies to maintain comprehensive safety protocols and documentation to protect their interests in liability cases.

Conclusion

Arizona businesses must prioritize pedestrian safety to mitigate legal risks and financial liabilities. By understanding state laws, companies can implement robust safety protocols, including comprehensive insurance, staff training, and thorough documentation. This proactive approach protects both pedestrians and the business’s interests.