To be a successful merchant, it isn’t enough to know your market. You have to know how to manage your finances, inventory, and business relationships, too. That’s not always possible for small- and medium-sized merchants, according to Kevin Colaco, founder and CEO of InvenTrak in Concord, California.

“A lot of the people running small- and medium-sized merchants are technicians,” says the industry veteran, who previously founded Paynet Transaction Systems and Camelot Financial. “Most of them started out operating in a space and then moved to starting a business in that space.”

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