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How to Sell Residual from Your Merchant Accounts
One of the easiest ways to find out if you truly own the residual you are building is to ask your processor if they are willing to buy your portion of the future residual similar to the way North American Bancard does. I am going to start with a brief example of a “buyout” and then give you some tips on when, why and how to best take advantage of this quick cash resource. CLICK HERE to join our webinar to discuss using buyouts or to see our schedule of upcoming webinars. Let’s say that you make 20 sales this month with an...
read more3 Tips to Start Your Week Right When Selling Merchant Services
Podcast: Play in new window | Download Here are three quick tips to help you start your week off on the right foot as a Merchant Services Agent. Also, you can click the “Download” button above to listen to the audio version or play the embedded video to see the power point presentation. Set Measurable goals: Before you start your week, set some goals that you can measure and decide how you will measure them. When I started out, I just carried a note pad with me and made a list of all the names of all the new business...
read moreHow to Switch Someone with an Early Termination Fee
This is just a quick post to give you some options on how to handle someone that you have to switch from another processor with an early termination fee and it was actually taken from a response to an agent’s question yesterday. He asked, “Is the average ETF $250 to $500 and how do you sell someone with an ETF especially when the savings are not large?” My response: “Yes, $250 to $500 is the average range. Keep in mind that NAB (North American Bancard) pays half the ETF up to $195 when the merchant processes $5,000...
read more2 Quick Tips on Selling Merchant Services Part Time
Podcast: Play in new window | Download Before you read this article read Part 1 on selling Part Time. In this video I want to give you some quick tips on how to use your limited time effectively. I will answer questions like, “How do I create inbound leads?”, “What advantages do I have selling part time?”, and “How can I sell large accounts on a part time basis?” If you prefer to listen to this article, click this link to subscribe to my iTunes podcast or you can watch the embedded video below. Before...
read moreUsing Social Media and Blog Articles to Sell Merchant Services
Podcast: Play in new window | Download If you are reading this article it is because you found me through my social media presence or my blog. In a niche industry where I can only target agents who sell merchant services, I have had almost 50,000 YouTube views, I have 7,000 twitter followers (@James_Shepherd1) and I get over 4,000 visitors every month to this website. What many of you may not know is that I learned all of this as a way to generate leads for my own credit card processing business. Below I am going to share with you a...
read more5 Worst Reasons to Sell for a Processor
Having talked with and provided training to hundreds of agents in the merchant services industry I have heard a lot of reasons why agents sell for their current credit card processing company rather than switching over to North American Bancard. Some of these reasons do make sense and there have been many times when I have advised an agent to stay with their current processor however, many times the reasons are not great and sometimes they make no sense at all. Below are the top 5 Worst Reasons to stay with your current provider. 5....
read moreHow to Sell Point of Sale (POS) Systems to Small Business Owners
Too often those involved in a particular industry are afraid to confront reality about the future of that industry. Credit card processing is becoming more and more of a commodity every day. A Commodity as defined in Wikipedia, is a product or service with significant demand that the market treats as “equivalent or nearly so no matter who produces it.” More specifically, a commodity is something that has almost universal demand (everyone needs it) but, it is difficult to differentiate one service from another. Electricity is...
read moreSelling Merchant Services Part Time
One question I get from a lot of agents in the credit card processing industry is, “How can I sell merchant services on a part time basis?” When I started as a sales agent, I started full time with a processor that did not pay well and I very quickly ran through my savings. I got an evening job in order to bring home some money for about 6 months before I was able to go full time again, so I know what it is like to work this business part time. Here are a few tips: 1. You can do this business full time or part time but not...
read moreStop Selling Three Year Agreements and Early Termination Fees!
As of today, North American Bancard agents can sell clients on a month to month agreement with no Early Termination Fee and still receive free equipment and full up front compensation! Wow, I have been wanting to say that for about a year! So, what does this mean for you as an agent? 1. More Sales! – Seriously, how easy can it get? Your pitch can be, Mr. Jones I know that I am the new guy and you might not be sure that I am going to save you the money I promise, so how about I put you on a month to month agreement. You will...
read moreCRM Database Solutions for Merchant Services Agents
What CRM solutions are needed for an independent agent selling merchant services? I have a unique opportunity to create a custom CRM solution from scratch. I have been using Zoho CRM solutions and providing this for free to my agents but, to be honest, I have been very, disappointed. The CRM is too complex for what we are doing and really requires that you move your calendar and email to zoho in order to get the full benefit rather than synchronizing with the systems we already have in place. Basically these CRM solutions like Zoho and Sales...
read moreSurvive Your Way to Success
Let’s be honest, it is really hard to succeed in the merchant services business as a sales agent. As a successful agent turned recruiter, most agents expect me to tell them how amazing it is and how rich they will become their first month in the business but, that is not reality. When you start in this business you need to remember you are starting a business and that is one of the most difficult and rewarding things you will ever do. Here are a few tips… 1. Stop choosing to stay or leave. Pick a processing partner that gives you...
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