Blog
Getting Past the Gatekeeper in Merchant Services
Last week I posted this video on how to handle early objections where the business owner is just trying to blow you off: Today I got a follow up question, how do you get past the gatekeeper? Many times a junior employee will tell you things like, “The owner wouldn’t be interested” or “I will take your card and have the owner call you if he is interested.” Here is how I handle these situations: I try to use a lot of confidence bordering on condescension to show this person that while I appreciate them doing...
read moreAre You an Expert?
This week, we have a guest article from another top sales trainer Noah Rickun. He travels all over the country providing live training events and I thought this was such a great article and so applicable to our industry that I just had to re-post it on our blog! “It takes 10,000 man hours to become an expert. Wow. That’s a lot of time, dedication and practice, isn’t it? But just like many expert concert pianists hated practicing as children, being the best at something isn’t easy. There’s another side to this expert stuff, though....
read moreHow to Succeed in Merchant Services
We recently started our first 10 agent team with PayProTec and it is going great! There team is called the “A-Team” and this morning I sent them a letter that I wanted to share with you. Hello A-Team! I just wanted to send out a quick email because I just got off the phone with one of our top agents and he and I were talking about this new team and what it really takes to succeed. One thing I told him is that I never want to mislead our agents the way so many other recruiters do by telling them how easy it is or how much they can...
read more5 Short Sales Tips for Merchant Services
-By Jon Ruiz Tip #1: GET GOING There are many reasons why we should get moving and keep moving! I like to stay actively prospecting, looking for leads on the Yellow Pages, Google, New business directories and all places that might get me an interested prospect. It is a Fact: Most Merchant Service sales agents are comfortable and or lazy. They are looking for the next big sale and once they achieve it. It is time to relax! Don’t get caught in this trap, get going every day and keep your sales pipeline full! Here is a video from James...
read moreAvoid the Price War
I get this question a lot from agents, “What should we do when a prospect is going to show our estimate to their current competitor and see if they will match our rate?” Let’s use a specific example where the customer had been with their current provider for 3 years and we were saving them $180 per month. Here is how I handle that. I say something similar to this every time I leave an estimate with a merchant even if they didn’t say they are going to show it to their current processor because if you leave and...
read moreWhat to Say and When to Say it
My recent blog article “5 Prospecting Tips” was probably one of the most popular posts I have posted at CCSalesPro but, it generated a lot of questions from my agents about what to say after the opening. So, start off by reading “5 Prospecting Tips” and then continue reading to get some tips on what to say and when to say it. One agent just emailed me a few minutes ago with this question, “Just got finished with 5 prospecting tips blog and thought it was great. Wondering if you could help out with a few...
read moreGreat Actions Follow Great Convictions in Sales and Business
I have a big task sitting in my inbox and it has been there for over a week. This is pretty unusual for me and so this Monday when I was about to place it in the “Tuesday” folder again, I thought to myself, “Why haven’t I taken action on this?” It really isn’t that difficult of a task or even something that I don’t want to do. The reason I haven’t taken action is that I really don’t know for sure if I am committed to this particular project. I have already made the deal, and in practice, I...
read more5 Prospecting Tips – How to Prospect for Small Business Clients
Podcast: Play in new window | Download I have been out in the field the last few days in a new market for me that is much more competitive than the rural market where most of my current clients are from. I really had to make some changes to the way I prospect and so I wanted to share those changes with you. Also, since my schedule is so tight now and I only have a few hours per week to build this processing business in a new market I have had to adjust my procedures and my partnerships so I can delegate more of the work. You can watch the...
read moreHow to Build Your Sub-Agent Merchant Services Team
A long time ago I published a webinar playback that I only did for a few select agents who were interested in building their own merchant services team. Today, I wanted to re-publish that along with the sub-agent forms you need. Keep in mind that we now have our own Payroll provider so for about $100 per month, you can have a payroll service take care of all the details for you. Let me also say I am not an attorney and this is not legal advice, you should seek the advice of a competent attorney to help you ensure that the documents I mention...
read moreHow to Sell Point of Sale Systems to your Merchant Services Clients
Podcast: Play in new window | Download Many agents in the merchant services industry are running into more and more businesses who already have or want to purchase a point of sale systems. On this weeks webinar, we discussed detailed strategies on how to sell Point of Sale systems and which features and benefits merchants are looking for in this lucrative and quickly growing market. Before we get to the playback, let’s look at a few reasons payments professionals are selling their clients POS Systems: #1 – Increased retention. If...
read moreHow to Partner with CCBizPro – Generating Leads for Merchant Services Agents
Podcast: Play in new window | Download Take a look at our last webinar recording on how to partner with CCBizPro. If you are interested in any of our reseller programs, we cover all of them step by step in this video. We also talk about how you can create your territory and claim your leads through our new website for merchants www.ccbizpro.com The final item of interest is our new marketing portal where agents on our team can get marketing materials for free. You can find this at...
read moreHow to Grow in 2013 as Merchant Services Agent
Podcast: Play in new window | Download This is a podcast only replay of our kick off webinar with Marc Beauchamp and Hawkins Siemon as special guests. In this podcast episode we discuss how to get your year off to the right start and also some big plans we have for CCSalesPro and CCBizPro so don’t miss this special...
read more10 Ways to Fail in Merchant Services
Podcast: Play in new window | Download On this weeks webinar / podcast we discussed 10 ways to fail in merchant services. After working with hundreds of agents, I have seen these 10 things cause countless agents to fail and I have seen dozens of agents overcome these same issues to find great success in our industry. Here is my top ten reasons that agents fail in the merchant services industry. #10 Become the “Undercover Agent” – One sure fire way to get off to a slow start in this industry is to be afraid to...
read moreCool, Calm, Collected and Closing Deals
It is not uncommon for me to hear from an agent that they went to a presentation, went for the close and didn’t get the merchant to sign that day. I can tell you from experience that is very difficult to find a customer that is willing to close the deal on the spot, don’t get me wrong, there are some out there, but you have to find them first. If you are looking to succeed as a merchant services agent, you must stay cool, calm and collected if you want to close deals. You might go to a merchant that you are not expecting to close...
read moreWill Your Small Business Clients Exist in 10 Years?
Podcast: Play in new window | Download Take a mental picture of a few small business clients with whom you work and ask yourself truthfully, “Will this Small Business Client Exist in 10 years?” In this article I am going to share with you my greatest fear as an independent agent selling small business owners and I promise you will be surprised. There has been a lot of talk in the media about mobile payments and how this new technology is a major enemy of independent agents like us. The rational is that soon everyone will be...
read moreHow to Overcome the Fear of Cold Calling
Today I got a great question from a top agent. He said that even though he is a top sales agent and knows how to close deals, he is still really nervous when he walks into a business for the first time. It is so bad that he many times has difficulty forcing himself to get out in the field and he asked me for any insight I might have on the root cause for this fear and nervousness. Here is my answer: I believe the core reason why agents don’t like to cold call is their view of “Sales” and what they have to offer the...
read moreHow to Get More Referrals from Merchants – How to Sell Merchant Services
Yesterday, I got an email from one of our agents asking my opinion on working with networking groups like “BNI” as a merchant services sales agent. After typing out my email response, I thought some of you might like to see my simple process for getting referrals below. My personal experience has been great with Networking groups, not only those that you have to pay to be a member of but, also the networking that happens just from talking to my own clients. I do have several people in other industries that refer business to me...
read moreHow to Sell Merchant Services Like the Godfather
Podcast: Play in new window | Download I just finished watching the Godfather trilogy over the Holiday season, so I just couldn’t resist using this title. Below I have 7 tips from the Godfather that I think will help you improve your merchant services business. Like CCSalesPro on Facebook (Thanks for your support!) #1 – Value your connections more than your commissions. From the very first scene in the Godfather, we learn the value of connections. The Godfather is offered money for doing a “service” and instead he...
read moreThe Most Important Lesson I Learned in 2012
I just posted a blog article at CCBizPro.com called, The Most Important Lesson I Learned in 2012 and I wanted to share that with our agents. The article was written for small business owners but, as I was writing it, I realized it was very relevant to our sales team, especially since you are all independent business owners and in light of all the new services we have rolled out in the last few months. Please take a moment to read the article first by CLICKING HERE and then take a moment to look over the tips below to better apply this...
read moreQuick Tip: How to Start 2013 with a Big Month in Merchant Services!
Let me give you a little sales tip that some of you might enjoy trying out. Set a day aside like Friday January 25th and make that your big sales day. Then take some time throughout the month to call all of your old prospects or maybe even stop by some of your prospects from last year and say, “Hey Bob, My company is having a special 2013 promotion on Friday January 25th. I am not sure what the pricing is going to be just yet but, I know it is going to be very low and we are going to be able to include a lot of perks. Would you like...
read moreLearn to Help Your Clients with Web Presence – New Video Mini-Series
I hope you are fired up about the new year! I am doing some pre-production work on the 20 day jump start program today and I am excited about heading out to my new market on Monday! I am going to a city where I have no clients and selling for 20 days to see how it goes, so stay tuned for more updates about this. I recently published 4 new videos on the CCBizPro YouTube channel that I would like for you to take a look at. If you are interested in selling our web design services to your clients you will certainly want to watch these or even...
read moreWhat’s New at CCSalesPro in 2013?
Podcast: Play in new window | Download I love the new year! CCSalesPro had an awesome 2012 and we want you to know what our plans are for 2013. If you sell merchant services, you will not want to miss our webinar on Friday January 11th at 11am EST. CLICK HERE if you have not already registered for our weekly webinar. We are going to have two special guests with us. The first one is Marc Beauchamp who was our most popular guest in 2012. I am going to interview Marc about tips to start the year off right in merchant services and also I...
read moreUnderstand a Merchant Statement in 1 Minute
This is an article that you may want to share with prospects who are thinking of using your services, but they are afraid the savings will not be there. If you are on our team, you already know about our website CCBizPro.com but, many of you haven’t seen it yet. You can set up your territory on this site and / or simply add email addresses manually and any leads we get in your area or from your list go straight to you. It is completely free to use it and the only thing we ask is that you sell any leads you get one of our services....
read moreAffiliate Web Design Services to Offer Your Clients
Podcast: Play in new window | Download In this weeks webinar, we rolled out a brand new affiliate agreement that is going to be a huge revenue producer for you! We are offering web design services with social media integration, email marketing integration and much more with up front bonuses and residual for the agent. The prices on this service are very low and this service ties into our new company brand of CCBizPro which is not only trying to save money for our customers but we are also trying to upgrade their systems and grow their...
read moreHow Much Commission Can you Make Selling Merchant Services?
Podcast: Play in new window | Download I recently published a video on YouTube entitled, “How Much Can I Make Selling Merchant Services?” If you would like to listen to this video you can click on the embeded video below, or you can simply listen to our podcast episode by clicking the audio player above or by subscribing to our podcast on iTunes. The one question I get asked more than any other by agents is, “How much commission can I make selling merchant services?” I have found several ways to answer that question....
read moreHow to Double Your Residual with Payroll Services
Podcast: Play in new window | Download This last week we had our weekly CCSalesPro Show where we talked about the results of our recent survey. 97% of agents we surveyed said they felt that it was a good idea to offer Payroll Services to their current merchant services clients! I was shocked! This was encouraging for me to realize that we are on the right track with this new service offering. Watch the Full Webinar on YouTube by CLICKING HERE Here are some of the stats from our survey: 32 Agents Took the Survey 15 Agents are already on our...
read moreJoining our Canadian Team to sell Merchant Services
Beginning January 1st, 2013 we will be offering merchant services in the Canadian market. My wife and I recently made a trip to Montreal Canada and we were excited to meet the Pivotal Payments team as well as host a live training event for some new agents at Pivotal. If you are interested in joining our Canadian team, CLICK HERE to register for our special webinar on Thursday December 20th at 2pm EST. Also, take a moment to watch the video below about our trip to Canada and a short introduction to how we will sell Credit Card Processing in...
read more5 Steps to Get you a Free Lunch Every Day While Selling Merchant Services
Podcast: Play in new window | Download If you are trying to sell merchant services to restaurant owners let me give you my best tip. Eat their food! Sound simple? It is simple. One of the most enjoyable and productive things you can do each day is eat lunch at a different restaurant. It will be easy at first, but after a while it can become a challenge, after all, how many places are there that serve lunch in your market? So, let me explain how you can add this tip to your daily prospecting routine and make it a productive use of time and...
read moreRepost: How to Get Yourself Out in the Field as a Sales Agent
Winter is upon us so this is a great time to read a post I originally created a while back. Do you feel anxious or scared about walking into a business for the first time? Join the club! Here are some things I do to motivate myself to get out in the field and prospect. I think everyone reading this article has enough confidence in their own sales ability to believe that if they really got out in the field for several hours a day, they would generate new accounts and increase their commission. So, how do we actually convince ourselves to...
read moreHow to Sell Credit Card Processing as a Local Agent
I am going to provide you with 3 simple tips on how to sell credit card processing as a local, merchant services agent. While I am busy rolling out CCBizPro and additional services to merchants, I do not ever want to forget our core business. The first video I posted over 2 years ago was entitled “How to Sell Credit Card Processing” and that remains our focus at CCSalesPro. The three sales techniques / action steps below are so important that you need to make sure you are following each one. If you are with a processor that is not...
read moreInterview with a Top Merchant Services Sales Agent
Matt Price joined our team about a year ago and has been a dynamite sales person! He recently became a part time coach on our team and helps new agents get off to a fast start. In this short interview we discuss the following topics: Why did Matt switch to CCSalesPro from another processor and how has it worked out for him? Tips for new agents selling credit card processing services in their local market. What can a recruiter do to build a team quickly? What should someone looking to build a team focus on and what mistakes did Matt make...
read moreHow to Sell Payroll Services
I know what you are thinking… “You are the credit card guy, why are you talking about payroll services?” I am talking about it because it is an awesome opportunity for agents in the merchant services business to leverage their current client base to make more residual! Visit ccsalespro.com/payroll for more information As we roll out our new website CCBizPro for merchants, we are going to offer some additional services and the first one we have decided to offer is Payroll services. Here are couple reasons why: The Payroll...
read moreWebinar Recording – Bankcard Boot Camp – Interview with Marc Beauchamp
Podcast: Play in new window |...
read moreCan I make 100K per year selling merchant services?
That is the question I got this morning and I have received a similar question before so I thought I would answer it to the best of my ability below with some solid numbers: Average full time agent makes 12 to 17 sales per month. Average Sale pays $275 up front (considering you offer free equipment to half of your clients) Average Sale pays $30.00 per month residual So, let’s be conservative and say you are selling 40 or 50 hours per week getting 12 sales per month. You make (12 x $275) $3,300 per month up front. Every month starting...
read moreRepost: Avoid the Price War
Many agents email me about how to avoid getting into a price war with a potential client and their current processor. They tell me that a merchant might say they are going to show their estimate to their current competitor and see if they will match our rate. One example is a potential client that one agent showed me that had been with their current processor for 3 years and we were saving them $180 per month. Here is how I handle that. I say something similar to this every time I leave an estimate with a merchant even if they didn’t...
read moreThank You!
Today, I would just like to say thank you for reading my blog, watching my YouTube videos, following us on various social media platforms and anything else you have done to connect with CCSalesPro over the last 2 years. Take a few minutes to watch “The Future of CCSalesPro” on YouTube About 2 years ago, I posted my first YouTube video which had audio and video quality so bad it is hard for me to believe that over 1,400 people have taken time to watch it! We now have over 90,000 views on YouTube and consistently generate over...
read moreWhat Features Should a POS System Have?
We are going to start working with a provider to make our own custom POS System and Software to roll out in the Spring of 2013. It will be called the CCBizPro System and I want to know what features you believe are important. My top 3 are: 1. Full and Easy Integration with QuickBooks 2. Storing Emails and Sending Emails out with triggers (For instance, a customer hasn’t stopped by for a month so the system automatically sends them a coupon) 3. The ability to integrate with mobile devices for processing transactions and reporting...
read moreHow can I compete against Square?
Podcast: Play in new window | Download The great questions just keep rolling in tonight! I get this question 3 or 4 times per week so I am just going to answer it. The short story here is that Square does one thing really, really well. They are cheap. That is it. They have no other competitive advantage, in fact almost everything else about what they do is a competitive disadvantage! I know it is difficult to get off the “Cheapest Processor Wins” bus but, if you want to compete against Square you will have to open up your...
read moreHow do I find new merchants that are not open yet?
This is the question I received today and I wanted to publish my response because this is a great question! We all know that if we can somehow get a list of businesses in our area before they are open and we get in contact with them first, we are very likely to get that sale, so where do we find this information? Their are really only three possible sources for these leads and I have tried all three, so here is my recommendation on each: 1. Purchase a list. infousa.com has a special program for providing hot leads each week and these are...
read moreThis Weeks Webinar – How to Grow Through the Winter Months
This Friday at 11am EST we will have our weekly webinar and we will discuss how to grow your merchant services business in the winter months. Because our key strategy is walking into businesses and meeting an owner face to face we encounter two unique challenges during the winter months. These are the two main topics we will cover: 1. How to Prospect when the weather is terrible. 2. How to Reach business owners during the busy Holiday season. If you haven’t yet signed up for our weekly webinar, CLICK HERE I am going to outline...
read more3 Tips on How to Close Sales in the Merchant Services Industry
Podcast: Play in new window | Download Today, I want to share 3 simple tips on how you can close deals. Maybe you have a merchant that already gave you their statement, you completed the cost analysis and now you are ready to go back in and close the deal! Here is how you can close more deals. 1. Set yourself up for the close on the first visit. When you get a new statement, you can’t just take that statement and run out the door, you need to take a minute to set yourself up for a great follow up visit. Start by calculating the...
read moreDo I need Appointment Scheduled Leads to Succeed in Selling Merchant Services?
One question I get asked all the time is this, “Why doesn’t CCSalesPro offer appointment scheduled leads as part of the deal for a new agent signing up?” I got this exact question from a potential agent this evening and my reply is below. Having started my career in merchant services with a processor who did offer these “Pre-Set Appointments” I have a very good idea of how this system works and why I personally don’t like it. In fact, I like it less and less every month. I personally no longer have a...
read moreThe Power of LinkedIn for Merchant Services Agents – Repost – Webinar
I recently read a great book called “The Power of a Link” by David Gowel and I wanted to share some key points with you today on how you can use LinkedIn to generate leads for Credit Card Processing. ***Our Webinar this Friday at 11am EST will give you a detailed look at LinkedIn and how to use it generate leads! CLICK HERE to register if you are not already registered for our weekly webinar. 1. Create your own LinkedIn profile – Make sure you have a good picture on your profile, take some time to think about your summary and how to position...
read moreGrowing Your Merchant Services Net Worth
I firmly believe that if a new agent really understood how much they could increase their net worth with every visit they made, they would be waking up without an alarm in the morning to get out in the field! Here are some quick numbers that I hope will motivate you as you build your merchant services business this week. 1. Before we get to the numbers, understand that I am talking about the results of working with a processor that provides life vested residuals with a low cost structure and competitive pricing and programs like free...
read moreWho should I sell as a new merchant services agent?
Podcast: Play in new window | Download Over the last week or so, I have had the opportunity to work with about 20 brand new agents that just joined our team and this was a fresh reminder to me of the issues a new agent in this industry faces. I have been doing this now for several years and very little surprises me, but this week I was surprised! I have identified the main issue keeping these agents from their full income potential and it isn’t what you are probably thinking. This particular group is working hard, staying busy and...
read moreVIP Program for Merchant Services Agents
I am very happy to announce our new VIP Program for merchant services agents! If you are currently selling for another processor and already have 20 or more sales submitted, you are elligable to join this new program. We are going to roll it out in detail on this Friday’s webinar at 11am EST CLICK HERE if you are not already subscribed to our weekly webinars. Over the years of recruiting agents and helping them transition from other processors, I have learned a few things about this process. Many top agents are interested in joining...
read moreQuick Marketing Tip – How to Sell Merchant Services
I just got an email from one of our top agents asking the following question: “I want to increase my exposure in my local town and I am trying to put things in place that may motivate prospects to call me rather than me cold calling. One idea I had was to have somebody hand out flyers door to door. What are your thoughts? Any ideas about what content I should add to the flyer that may motivate people more to call? Here is my response: I actually did have someone pass out flyers before in businesses and it was very successful. ...
read moreAre You Addicted to Action?
This morning as I opened my inbox, I started answering emails and returning calls almost without thinking. When someone starts talking to me about a “Great Idea” I find myself almost distracted by my desire to start doing something to make that thought a reality. I am always thinking in terms of “What can I do next to resolve this issue” when a customer calls me. If my inbox is not empty at the end of the day, it drives me crazy because that means I did not take action on those items. I should have at least decided when and if I am going...
read more3 Reasons You Should Get Out of Bed Tomorrow Morning
It is 7am on a Friday morning and you already made 2 sales for this week. You don’t have a boss to make you get up at the time you scheduled and while you certainly don’t have the kind of money you want, you know that over time your residual income will build, so if you can just continue to survive in this business for a few years it will all be worth it. So, why should you get out of bed this morning? 1. You need to keep your sales pipeline full. There is nothing more valuable to a sales professional than a full sales pipeline of...
read moreNew Website Training Resource Launched by CCSalesPro
I am excited to announce the official launch of CCSalesTraining.com our new free training resource and learning management system for agents selling merchant services. All you need to do is visit the site and create a free account to log in and access our growing library of courses. We are going to be adding new courses over the next several weeks and months, but here are a few to peak your interest: Sales Training – This is our standard, comprehensive sales training course that we have broken into short video segments. This course...
read more5 Powerful Prospecting Tips
Prospecting is the engine that drives your merchant services business. If you are not actively seeking new business, your client base will begin to shrink, your income will drop and you will eventually be out of business. Today, I want to share 5 powerful prospecting tips with you, but before I do that, I want to ask you a question. Are you Prospecting? If you want to improve a system, you must have a system on which to improve. Here are some questions that you need to answer to build your system. Remember that any system you come up...
read moreNew Live Training Event! – Positions available for Sales Agents in the United States – No Experience Necessary
My name is James Shepherd and I have been recruiting and training sales agents in the merchant services industry for several years. I started out in this industry with no experience other than a sales background and a desire to succeed. After building my own local credit card processing business, I began training agents through my online resources to help them succeed. We have seen a lot of success especially in helping agents that came from other processing companies, but today I am announcing a new program that is specifically designed...
read moreThe Top 3 Reasons to Build a Merchant Services Business
Podcast: Play in new window | Download There are a lot of opportunities out there knocking on your door, so why should you invest your time building a merchant services business? You could use your abilities as a sales agent to sell many different things so, why sell credit card processing services? Below I have listed the top 3 reasons why I believe selling merchant services is a great way to build your current and future success as a sales professional. If you are already selling merchant services, I hope this article will encourage you to...
read moreHire a Telemarketer for $100 per Week
Have you ever wished you could hire a telemarketer to schedule appointments for you? Now you can for $100 per week through a partnership we have negotiated with a call center. If you are on our sales team, email me and let me know you want to join the telemarketing / lead generation program (if not, this is one more reason to join us!). Below is a re-post that discusses the key points to remember when working with a telemarketer. Also, I have a new video from a recorded webinar I gave today to roll out this information and lead generation...
read moreWebinar on Building a Team of Merchant Services Sub-Agents
As many of you already know, I recently started a new section of my website for agents interested in building their own team of sub-agents. We recently had a 1 hour webinar training that covered a lot of the basics and I decided to make that public so you could get a small taste of the training and resources that are coming. If you are interested in starting your own team and would like to be kept in the loop about our training program, make sure you sign up for our special email list for recruiters. In order to see our updates, CLICK HERE to...
read moreThe Easy Way to Sell Gift Cards
After years in the business I have had to face a difficult truth. I don’t make very much money selling gift cards but, it takes me five times more effort to set up gift cards than a standard processing account. As any savvy business person will tell you, this means I need to outsource! I recently did business with a sales person from Valutec (The gift card provider of choice for NAB) and she was very helpful. I simply sent over my clients contact information that was interested in receiving a gift card program and this sales person did...
read more3 Reasons to do an “On the Spot Analysis”
I just received a great question from an experienced agent that is new to our team. He asks, “When do you recommend doing the analysis on the spot verses taking the statement with you and having the statement analysis department work up a full cost analysis?” Let me say first of all that if you don’t know how to do an on the spot analysis, you are adding a lot of wasted time to your sales cycle and you can CLICK HERE to watch a screen shot video that shows you how to do an on the spot analysis. It is one of the toughest...
read moreProspecting for Merchant Services – 3 Quick Tips
Podcast: Play in new window | Download If you consistently get shut down when you first walk into a business and/or you feel like you are wasting your time with old prospects from last month that are never going to make up their mind, you might enjoy this blog post. In the video below I discuss a very simple way to organize your prospects and make sure you are not investing time in someone who you can’t sell. I also talk about some things I have found that help create a sense of urgency in the sales process. It is important to have a...
read moreWebinar This Friday – Using Independent Contractors to Grow your Merchant Services Business
This week’s webinar on Friday that is open to the public will be on “Using Independent Contractors to Grow your Business.” I first did this webinar for my active agents a few weeks ago and I have had so many agents ask me to do it again and record that I am going to present it to the public and make the recorded version available on our Webinar Archive Page. This webinar will cover how to use independent contractors to schedule appointments, do installations, customer service and administrative tasks to help you maximize...
read moreRebuttal for “We are happy with our current processor.”
Podcast: Play in new window | Download Here is a quick rebuttal for the objection, “We are happy with our current processor.” Prospect: “We use XYZ company and we are happy with them?” Me: “Now, is that a local company or is that one of the big corporate processors? Do they have someone local that services your account?” Prospect: “I think it is a big company?” Me: “Let me ask you one question and I will let you go. If you were purchasing XYZ (Something their business type would purchase a...
read moreHow to Recruit Your Own Team of Agents to Sell Merchant Services
For a long time now, I have been working on a program to help agents and offices that want to recruit agents and train their own team. This video is an introduction to our program that we will be rolling out over the next few months. Make sure that you visit our Recruiting Page to sign up for a new email list to stay up to date on the resources that we will be offering to those who are interested in recruiting. Even if you are an active agent on our time or if you have already signed up for our current email list, you will want to sign up for...
read moreHow do I Make Myself Get out in the Field?
I think everyone reading this article has enough confidence in their own sales ability to believe that if they really got out in the field for several hours a day, they would generate new accounts and increase their commission. So, how do we actually convince ourselves to get out in the field? Here are a few tips: 1. Schedule a 3 hour block of time. Don’t plan to go out all day to brand new businesses, it is exhausting and stressful! Start with a 3 hour block of time where you are going to do nothing but visit new businesses. 2. Plan...
read moreHow to Close the Deal – Webinar this Friday at 11am EST
In our weekly webinar this week on Friday at 11am EST, I will talk about closing techniques and walk you through a step by step closing process that has worked for me over and over again. I hope you will join us! I will also have my webcam on if you would like to join the video chat so you can see the non-verbal communication that I use to close deals as well. You can subscribe to our weekly webinar if you haven’t done so already by clicking...
read moreWeekly Webinar Invitation: How to Make Money Selling Merchant Services
Are you new the industry or a seasoned professional and you would like to make more money selling merchant services? On this weeks webinar I am going to give you several tips that will help you maximize your income as a sales agent. In order to get started with our weekly webinar Register Now at: https://www3.gotomeeting.com/register/965978526 Have a great week! James Shepherd
read moreShould I Work Weekends when Selling Merchant Services?
Podcast: Play in new window | Download I am actually at work right now (Saturday morning) and I have always enjoyed working a few hours on Saturday morning but, I don’t sell on Saturday morning because business owners are usually not in and if they are, they wish they weren’t and they are in a hurry to get their stuff done and get home. When I was selling full time, I always used Saturday and Sunday to do a few very important things. 1. First of all, I never work more than 4 hours on Saturday and 2 hours on Sunday because these...
read moreHow I Make Credit Card Processing Sales Today
I told Matt price (one of our agents) that I got two sales today and he asked me to tell him how I made the sales and what my sales approach was. Here is my edited reply, thought you might like to hear this. If you are just starting out, it will be a while until your business reaches this level but, I think it is important to understand what you are trying to accomplish. Matt: “Congrats on those 2 deals. If you wouldn’t mind taking the time I would like to hear the details of how you obtained them and what kind of sales approach...
read moreThe Secret to Selling Merchant Services
Podcast: Play in new window | Download After speaking with hundreds of agents and observing dozens of agents in the field, both top producers and sales people who can’t seem to make it happen, I have discovered the secret to selling merchant services. It is really very simple… Learn how to sell! I know that sounds simplistic and harsh but, the biggest difference between top producers in this industry and those who can’t make more than a couple sales per month is really their sales ability. Below are a couple quick tips on...
read moreQuick Tip Video: Control Your Time by Scheduling in Advance
I am going to start posting several “Quick Tip” videos to my YouTube channel each week. These videos will not be as high quality but, they will be less than 3 min long and provide a quick tip or answer a quick question. Watch the Quick Tip video below on scheduling and make sure you subscribe to my YouTube Channel by Clicking Here James Shepherd...
read moreHow to Sell Merchant Services when you cannot offer significant savings
Podcast: Play in new window | Download In the short video below, I show you how to sell merchant services even when you are not able to offer a significant savings to the merchant by shifting your focus from the cost savings to the upgraded, free equipement we offer as well as the fact that you are a local business owner and will provide superior, local service. Watch the video below or listen to the podcast for the full...
read moreHow 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 owners I...
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 to...
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 I...
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 simple...
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 a...
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 be...
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...
read moreTop 5 Problems with the Merchant Services Industry
The Credit Card Processing industry has several core issues that I believe generate a lot of extra problems for sales agents and merchants. Below I have listed the major issues and their effects on customers and agents as well as what I believe should be done about it. 1. Independent agent model with no ongoing sales training. Our industry uses a model that gives complete freedom to the sales agent in the area of pricing and services offered. With the proper training this allows agents to build their own business and provide the best solution...
read moreGrowth Before Influence
Are you trying to grow your influence or your organization? The difference in focus is subtle but, very important. Too many individuals are trying to grow their influence within their organization or current group of contacts without working to grow their organization or social network itself. Is your goal to become the most influential member of the least influential group or organization? If you are working to start a business or organization, work hard to build something worth influencing. Don’t start out in business trying to become...
read moreWhat You Say Matters
Why didn’t you make 3 to 5 sales in the last week? Immediately upon seeing this question you start coming up with excuses. Maybe you were “too busy” this week or you are in a “tough market.” Certainly we all have busy lives and there are some markets that are tougher than others however, when agents call me with the “I can’t get a sale” problem I am amazed how quickly I can identify the root problem. Invariably, the reason they didn’t get 3 to 5 sales in the last week is primarily a...
read moreUnderstanding your Residual Split
I would say 9 out of 10 agents I speak to in this industry do not fully understand how their residual split works. Don’t be one of these agents! Read these short tips to gain a better understanding of your residual split. Join LinkedIn Conversation Join Facebook Conversation Join Google+ Conversation 1. Don’t get hung up on the percentage. Imagine you are at a family reunion and your Uncle walks up and says, “I’m going to give you 50% of everything I own!” Right after that your other Uncle says, “If you...
read moreHow to Sell Merchant Services
I have spent the last several years training hundreds of agents how to sell merchant services and in today’s article I would like to condense the core principles of my training in two main points. Join LinkedIn Conversation Join Facebook Conversation Join Google+ Conversation 1. Sell according to stages – Too many agents walk into a business with the intention of getting a sale rather than the intention of meeting a business owner and so they come across too strong and the prospect feels uncomfortable. Focus on one stage at a...
read moreClosing Techniques – Responding to Yes, No and Maybe
In the video below I give some specific scripts and closing techniques for handling the three responses to your close: “Yes”, “No” and “Maybe” Please enjoy this video and I hope you find the tips useful in the field!
read moreUsing LinkedIn to Generate Leads
I recently read a great book called “The Power of a Link” by David Gowel and I wanted to share some key points with you today on how you can use LinkedIn to generate leads for Credit Card Processing. 1. Create your own LinkedIn profile – Make sure you have a good picture on your profile, take some time to think about your summary and how to position your previous work experience. An investment of several hours will create a great LinkedIn profile that will act as your online resume for potential clients. 2. Use your LinkedIn...
read moreLead with Questions – Closing Techniques
Join Facebook Group Discussion – Join LinkedIn Group Discussion Have you ever noticed that professionals in every industry lead with questions? When you go to the doctor’s office he will ask you many questions and conduct tests before providing a diagnosis. A good lawyer will spend 90% of his billable time learning about your situation before providing the correct legal advice. In the same way, professional sales people lead towards a close with questions. In this video a borrow from Tom Hopkins materials to discuss the two best...
read morePersistence and Patience Create Profit
To join our conversation on LinkedIn about this article: CLICK HERE or to Join the conversation on facebook: CLICK HERE Probably 9 out of 10 statements that I receive from brand new agents have pricing with a competitor that is unbeatable. I have noticed this for a long time and used to think it was a coincidence or some form of “beginner’s bad luck” but, I have since learned why this happens. A new agent is not very good at obtaining statements or making a good initial connection with the merchant. So, they go out for a...
read moreDo you sell on the spot?
Click http://linkd.in/zGcBJJ to see our discussion on LinkedIn. In the video below I show you how I do an on the spot analysis but, I would like to know if you sell on the spot? If so, click the link above and share some tips with our open group. To watch the video, please scroll down. If you haven’t joined our LinkedIn Group, make sure you click http://linkd.in/zGcBJJ to join us on LinkedIn Feel free to email me with any questions:...
read moreAvoid the Price War
I rep just emailed me and asked about when people say they are going to show their estimate to their current competitor and see if they will match my rate. In this particular case the customer had been with their current provider for 3 years and we were saving them $180 per month. Here is how I handle that. I say something similar to this every time I leave an estimate with a merchant even if they didn’t say they are going to show it to their current processor because if you leave and don’t close the deal, there is a really...
read moreLocal Bank Objection
Today I would like to talk about how to overcome the “I am with my local bank” objection. In my experience simply explaining how this process really works will help you win this sale or at least give you an opportunity to do the analysis. Here is an example conversation with a merchant and the pitch I use to overcome this objection: Agent: Do you mind if I ask who you are using for your credit card processing needs? Merchant: I use my local bank and I am very happy with them, they actually gave me a loan to start my business so I...
read moreRecent Survey Results
Thank you for all the feedback on the survey I sent out yesterday! Here are a few things I learned and the actions I am taking. 1. The most interesting thing to me was that, when asked if video training or webinars were preferred, every single agent except one said that they preferred video training over webinars. Mainly because they can watch the videos any time and not have to work around a set schedule. I expected this response since the number of webinar participants was way down from what I thought it would be. When I was selling I hated...
read moreLearning your Lines
Podcast: Play in new window | Download Key Points: The Best Sales Agents, like the best actors plan, prepare and memorize their lines so they can deliver them with emotion and feeling. The Best Sales Agents, like the best stage actors are focused 100% on their performance, limit outside distractions and take each presentation very seriously. Learn how to create lines that go in sequence by planning your responses in advance. Memorize key questions that you can ask throughout the presentation. Listen so intently that what the customer says...
read moreWin the Sale not the Argument
One thing I hear often from sales agents in the field is, “The prospect is just blowing me off.” or “The prospect doesn’t take me seriously.” or “The prospect doesn’t value my time at all.” This prompts the sales agent to say things to the prospect like, “Are you actually serious about moving forward?” or “I have come here over and over again and I am starting to feel like I am wasting my time.” or “Don’t you realize who you are talking to?” All of...
read moreWebinar – Merchant Services Sales Training Program
2012 will be a year where Multi-Merchant Processing adds many new training resources. Now that I have a strong team of professional sales agents across the country I have decided to overhaul my training and use the lessons I have learned about what it takes to help someone else start their own processing business to create a new program with features and benefits I have never offered before. Webinar Schedule, Click the most convenient time to register: Fri, Jan 13, 2012 9:00 AM – 10:00 AM EST Fri, Jan 13, 2012 3:00 PM – 4:00 PM...
read moreHow to switch gift card programs
One of the biggest challenges on larger sales is when the client already has several hundred or even thousand gift cards out in the market. How do you switch them over without messing up their gift card program? Here are the options you have available: First, get the contact information for the gift card provider, it is very likely that the gift card activity comes on a separate statement, if so get this statement and call them up. Tell them the merchant is switching processors and would like to keep their current gift card program. Explain...
read moreWhen to close the sale
I talked to a bunch of agents today about their pitch and I wanted to post a short blog article about how to know when you should close the sale. 1. Close the sale when the merchant has time. You have invested time and energy to get the statement and do the analysis, don’t waste all that by giving the merchant a 30 second presentation. When you walk in to do the presentation ask, “Hey Bob, I know you are probably swamped today do you have 10 minutes to go over this or should I come back another day?” Don’t leave the...
read moreIntroduction to Credit Card Processing
In these three new videos, I discuss how the Merchant Services industry works and how sales agents are able to make money. Part 1 Part 2 Part...
read moreMy Latest Sales Story…
My favorite thing about writing these blog articles and creating training resources for new agents and industry professionals is being able to share real life sales stories from my own experiences in the field. Unlike some sales trainers who made their last sale years ago, I actually made a sale today and I try to make a few sales each month, so that I can test new ideas, techniques and stay up to date on our industry from the front lines. First, let me give you my latest sales story and then mention a few lessons that I was reminded of,...
read moreMaking a Great Presentation
Podcast: Play in new window | Download In the video below I give some specific tips on how to make a great presentation to the customer after you have received a statement analysis form back from the statement analysis department. This video was taken from Day 11 of the 20 Day Jump start Program and will only be unlocked for a few days. James Shepherd...
read moreResolving Customer Issues – A step by step guide
In this article I will give you a short, step by step system that I use to keep my customer’s happy. ***This article was taken from Day 15 of the 20 Day Jump Start Program. 1. Set the right expectations when you make the sale. Learn more about this by reading my article What not to Promise a Customer. 2. Do the installation quickly and with the least amount of inconvenience for the merchant. This means making installations your top priority each and every day. To learn more about this read The Most Important Customer Service Action...
read moreCustomer Service Tips
Podcast: Play in new window | Download Once you have a small customer base, you will begin dealing with customer issues. Some of these issues will result from the way you sold and the promises you made. Others simply couldn’t have been avoided. In either case, I hope that these tips will help you flesh out your customer service mentality. ***This blog was taken from a small portion of Day 10 of the 20 Day Jump Start Program Here are a few short tips: 1. “Exercise integrity at the moment of choice.” That means, when have a...
read moreUsing Tier Pricing Rates
This video may be a little confusing to some of you and I want to explain it first. Since I started in this business I have always sold Interchange Plus Pricing. Overall, it is the best structure for the merchant. I still believe this and I still sell Interchange Plus Pricing just about every time. That being said, as a result of the Durbin Amendment, the minimum pricing requirements on Tier Pricing at North American Bancard have gone way down, to the point where we are able to offer significant savings to a merchant on Tiered pricing by...
read moreCreating Momentum Revisited
Podcast: Play in new window | Download I few months ago, I posted this blog article, but many of you never got a chance to read it. Today, I decided to re-post and record it so you could take advantage of these basic ideas on how to grow your credit card processing business. As you begin to build your Credit Card Processing business you will be inundated with tasks that do not create momentum. These include installations, customer service, paperwork and other tasks that are essential to your business, but do not create momentum. There are...
read moreA simple explanation of Interchange Plus Pricing
If you are an active agent on on my team, you know that the pricing structure I recommend is “Interchange Plus Pricing.” If you are a business owner that accepts credit cards, feel free to read the information below and visit our client site for more information about signing up for interchange plus pricing. I find that many agents do not have a clear understanding of how Interchange Plus Pricing works and therefore are not able to make a clear presentation to the customer. This is my attempt to create an easy to understand...
read moreSquare Mobile Processing
Since my last blog post on PhoneSwipe, I have received a bunch of feedback from agents about “Square” and their pricing model of flat 2.75% In this blog post I wish to address Square as a competitor to phone swipe. Feel free to make a comment below this post to continue the conversation. First of all, here is the text from the Square Pricing Page Now when you swipe a card with Square or Card Case there is just one fee: 2.75%. What you see is what you pay. Square and Card Case let you accept credit cards quickly and easily, using...
read moreFree Phone Swipe Account
Podcast: Play in new window | Download The hottest new technology in our industry is the ability to accept payments through a mobile device. NAB is leading the way through their partner Phone Swipe. In the video below, I show you step by step how to set up your own free Phone Swipe account so that you can receive a phone swipe to attach to your Android or Apple device. It is free to set up this account and doesn’t cost you anything in monthly or annual fees. I highly encourage new agents to get one of these free phone swipe accounts, so...
read moreMaximize Profit with Certain Business Types
I made a new video for Day 5 of the 20 Day Jump Start Program that discusses which businesses to target in order to maximize your residual profits. Feel free to contact me with questions: James Shepherd james@multi-merchant.com
read moreQuick Sales Tip
Podcast: Play in new window | Download Ok, this is my shortest blog article ever!!! This is really a follow up to yesterday’s article about selling in a competitive market. When you walk into a business and meet the business owner for the first time, it is a good idea to imagine that they are asking you, “How do I know I can trust you?” or “How do I know that what you are telling me is the truth?” So, the next time you are in front of a prospect and you say something like, “I can save you lots of...
read moreSelling in a Competitive Market
I would have to say that this article is probably the most requested article I have ever done. I have had so many agents tell me that their market is overly competitive that it is high time I provide some insight on how to break into tough markets. Let’s get right into it. 1. Power through the first 10 to 15 sales in a tight area with relentless drive and follow up. In order for this strategy to work, you must get 10 or 15 accounts and they need to be close enough to each other that there is a good chance other business owners in your...
read moreLearning Terminal Types
THIS POST WILL ONLY BE UNLOCKED FOR 3 DAYS. I wanted to give you a sneak peak at the 20 day jump start program and the type of training it offers. This is Day 3 of 20 where we discuss Terminal Types and Terminal Ownership. If you would like to have unlimited free access to the 20 Day Jump Start Program you will need to Become an Agent on my sales team. FYI: I did not include the podcast episode that goes along with this because if references resources that are not included in this sneak peak. HERE IS DAY 3 OF THE PROGRAM Welcome to Day 3 of...
read moreHow to overcome: “I just switched!”
There are certain objections that I hear more than others and lately, I have had several reps in highly competitive markets tell me they are hearing “I just switched processors a few weeks ago!” Let me tell you how I handle this objection. First of all, if you are hearing it a lot, think about your marketing strategy and realize you may be hitting a market that is highly saturated. This doesn’t mean you cannot make sales, but you need to adjust your pitch and possibly look for some easy money in nearby rural towns that are...
read moreWhat Not to Promise a Prospect
If you are a true sales professional, you know all about that moment when you are about to get the sale and you can feel it. The pressure of knowing what you say next could win or lose the account. You are racking your brain with what you could promise to get this prospect off the fence and signing the paperwork. In order to get the sale, you listen to the needs of your prospect and promise that you will provide a solution to certain needs. In this article, I am going to mention a few such promises that I probably can’t keep and a few...
read moreMarket Segments – Who should you sell?
I spend 99% of my time training agents on how to sell anyone, however, it is important to understand your market and answer the questions, “Who should I sell?”, “Who is in my market?” and “How, specifically should I approach my market?” In this article I will talk about basic market segment ideas and how to maximize your time in the field by attempting to sell the right people. Today, I am going to provide a basic marketing strategy and the actions necessary to execute this strategy in your area. Keep in...
read moreClosing More Deals
How can you close more deals? Yesterday I got an email from one of the top agents on our team. In September he had 17 accounts approved which is a very respectable number, but in order to get over the 20 per month average, he is looking for ways to close more deals, more quickly. Out of these 17 accounts, only 5 were contacted for the first time in September, of the remaining 12, 4 were contacted in August and 8 were contacted in July. In other words, 8 of these accounts took about 2 months to close from the time he first contacted them. In...
read moreThe Most Important Customer Service Action
Imagine you go into a car showroom tomorrow to purchase a car. When you walk in the door, a very well spoken and sharply dressed sales person approaches you and offers to help you find the perfect car to fit your needs. You finally settle on the right car, except that they have it in red and you really want it in blue. The sales person responds, “No problem, I am going to order this car for you in blue and it should be in shortly.” You sign the papers for the car loan and anxiously await your new vehicle. Three weeks later, your...
read moreWhat the Durbin Amendment Means for Sales Agents
Our industry is changing quickly with government regulation becoming a reality through the Durbin Amendment and competition heating up. With prices going lower, how can you build a successful and strong portfolio of clients for your business and consequently a stable residual income? Watch this video to see my take on how our industry is changing and how this could be the perfect time to start a career in the Credit Card Processing...
read moreThe Value of an Account
What if I told you that for 12 hours of work, I would give you $200 plus one share of stock that paid a $25.00 per month dividend and had a resale value of $800? Does that sound like a good deal to you? That is how much an average account is worth, not a huge account, not a multi-location account, just an average single location account sold under North American Bancard’s compensation program. Many of you may not know this, but the residual on your accounts is worth an immediate cash value if you sell it back to NAB. They pay out...
read more20 Day Jump Start Program
I accidentally sent out an email earlier today with a bunch of new “articles.” This was the start of the 20 Day Jump Start Program that I will be launching in a few days and it should not have sent out, sorry about that. I am very excited about this program and I want to explain a couple things about it real quick. First of all, this program will be available only to active agents on my sales team because it involves a good deal of time investment from me and a lot of new resources that are specific to North American Bancard. Each...
read moreAre you Accountable?
If you are not accountable to someone else with your numbers each day, you will not achieve your full potential. I know this is a tough statement, but I believe it more and more every day. Let me ask you a question, Who knows how many businesses you went into today? For that matter, who knows if you even went to work at all today? If the answer to this question is, “Just me” I doubt you worked a full 8 hour day in the field or even 6 hour day in the field. You probably went out for a few hours, went to some follow up appointments...
read moreEnemies of Success
In the video below, I discuss three huge enemies of success that we face every day. 1. Fear of Failure Are your expectations for yourself so high that you could never possibly acheive your goals? Lower your expectations. This will allow yourself to do what you can do, not what you wish you could do. 2. Small Successes are the enemy of Big Success If you have just come through a tough time in your life, you may be in “Survival Mode” and this is not where you want to stay. 3. Being Overly Analytical Once you analyze your day and...
read moreThe Discipline of Schedule for a Sales Agent
I have recently posted several articles that discuss my organizational system and schedule. Today, I want to talk about the one skill that I believe has more to do with success than any other, discipline. Discipline is the habit of taking action. It is the habit of doing what you know you should do. You can borrow my system for organization, you can read good books like “Getting things Done” and “Personal Efficiency Program” which have helped me a great deal, but these books will not teach you character or discipline....
read moreHiring Sub-Agents to Sell Merchant Services Locally
When I started my processing career, I started with a captive processor that had a lackluster compensation plan and not much else. It wasn’t until I came to North American Bancard that I realized this could turn into a real business! When new agents ask me why they should go with North American Bancard, one of the main reasons is the ability to create a real business through the sub-agent program. It is so easy to use, NAB takes care of the residual splits for you and they even offer the $3,000 sign on bonus to new sub-agents! Can you...
read moreOrganizing your Sales Leads into a Schedule
I recently partnered with a new guy to schedule my leads for me and he has done such a great job that I have had to adjust my organizational system to track, schedule and reference my lead information. Before reading this article, you need to understand the basics of how I set up my schedule and organize my life through gmail and google calendar. You can watch a screen shot video of how I set up my schedule below. The rest of the article is below this video: The one thing that this video does not cover is how to organize your leads. Leads are...
read moreSilence is the Silent Seller
Have you ever walked into a store, said nothing and the owner walked out and said, “I don’t want to buy from you!” …Probably not. Great sales people realize that what they say loses the sale more than what they don’t say. Each sentence and even each word is a risk that you are taking. You are risking the client’s reaction to your words and inevitably what you say will either win the sale or lose the sale, so use words sparingly, carefully and only when necessary. You might say, “The pricing is what...
read moreSelling Leases on Credit Card Terminals
It is difficult for me to discuss how to sell leases on credit card terminals since I spend a good deal of my time, trying to convince new agents that leases are a scam 90% of the time. However, there are certain times where you need to be able to sell and understand a good lease and North American Bancard, through it’s affiliate partner LFG, offers a much better lease pay out than I have seen with any of the captive processors that push the leases. How does a lease work? A lease is a very interesting financing tool. Let’s say you...
read moreHow to get the Statement
Yesterday, I posted a blog article about how to close “on the spot” and while that is an important skill to have, by far the most important skill is the ability to get statements from the merchant. Even if you never close a deal on the spot, if you can get a lot of statements, you can make a lot of sales in this business. Here are a few tips and a script that I use to get the statement. Tips: 1. Know your numbers!!!!! If you want to be successful you must know three numbers. -How many new businesses have you walked into in the...
read moreClosing on the First Visit
It just so happened that yesterday and today I closed a sale “on the spot” or at the first meeting I had with the merchant. I wanted to give you some tips on when and how to close on the spot. If you are just starting out and you go to a lot of small volume businesses you will find this article very useful. 1. When to close on the first visit. This is a tough one, because my general philosophy is that when you go to the first appointment your goal is to get the statement and that’s it. However, like most rules, there are...
read moreHow to set an appointment
Before you read this, make sure you read THIS ARTICLE about getting your own telemarketer. Here are a couple tips for those of you who are utilizing telemarketing to set up your appointments. If you are calling to schedule your own appointments or if you have someone else, you want to focus on the largest possible number of appointments, and not on the quality, here a few tips to accomplish that. 1. Properly define a “Lead.” - I started my sales career in direct telemarketing sales and we had a saying, “All I need is a...
read moreGetting out in the Field
I think everyone reading this article has enough confidence in their own sales ability to believe that if they really got out in the field for several hours a day, they would generate new accounts and increase their commission. So, how do we actually convince ourselves to get out in the field? Here are a few tips: 1. Schedule a 3 hour block of time. Don’t plan to go out all day to brand new businesses, it is exhausting and stressful! Start with a 3 hour block of time where you are going to do nothing but visit new businesses. 2. Plan...
read moreFlat Rate Pricing Pitch
I just got an email from a sales agent who asked. “James, One of my telemarketers spoke with a prospect who is open to seeing what I can do but, it seems that he wants a “flat bundled rate” What exactly is “bundled flat rate pricing?” Who is it good for? How would you handle this phone call? Well, a flat bundled rate pricing plan alternates between being a terrible deal for the processor and a terrible deal for the merchant, but it is never a win win and 99% of the time it is a terrible deal for the merchant....
read moreWhat is your rate?
Today, I did some prospecting in my local area. I met 4 new business owners and 3 of them asked me, “What is your rate?” That is a very common question and it deserves an answer. You can’t say, “Well, I have no idea what my rate is, because I do interchange plus pricing and I need to see a statement first.” Even though, that is true and you really do need to see a statement first. Let me explain first what the merchant means by this question and then I will share my answer to it. When a customer asks, “What...
read moreTips on Prospecting for merchant services
If you consistently get shut down when you first walk into a business and/or you feel like you are wasting your time with old prospects from last month that are never going to make up your mind, you might enjoy this blog post. In the video below I discuss a very simple way to organize your prospects and make sure you are not investing time in someone who you can’t sell. I also talk about some things I have found that help create a sense of urgency in the sales process. It is important to have a hook when you first go into a business...
read moreReceive Appointment Scheduled Leads
If you are new the processing industry or if you have not gotten off to a fast start, let me encourage to watch this video. Even if you have no money to invest up front, I want to share with you, how you can get Appointment Scheduled leads. Read below the video for details about how to set up this program. Here are the details discussed in the video and some extra tips: Step 1: Identify an individual who knows you and trusts your sales ability and honesty. This could be a family member with some spare time or a telemarketer or sales...
read moreHow to get 30 sales in 90 days
Earlier today an agent asked me for any tips I could provide him on hitting the $3,000 sign on bonus of 30 sales in 90 days. After typing out the email, I decided to edit and post it as a blog article. Even if you are not a new agent, take a moment to read this, I think you might find the goals helpful. Before reading this article, I would highly recommend reading this article first. http://ccsalespro.com/creating-momentum If I wanted to get 30 sales submitted, approved and installed in 90 days, here is how I would set my goals: Goal: Get...
read moreSurviving the First Year
When I got into this industry, I had no one to help me understand the business, no one to make videos for me or post blog articles and no money to pay the bills. The first year held many surprises for me as I tried to learn what I was doing and keep the cash flow coming in. It was not easy, but I’m so glad I stuck with it!!! I recently sent an email to a new agent about how I survived the first year in this industry and I wanted to edit and share some of those thoughts with you today. There are a few things that will help you survive...
read moreCommon Technical Issues VX510
I have had several reps asking about technical issues and I wanted to run through a few of them, so you can be better informed with speaking with technical support. 1. ”Comm Error” – Stands for communication error and is by far the most common issue that you will face. The credit card terminal communicates in two ways. First, it sends out a signal to the bank which includes the amount of the transaction, etc. The bank authorizes these funds and sends a signal back to the terminal to say, “Approved” or...
read moreCustomer Support
How is your customer support? Do your customers love you and the service you provide! Are there any customers that you do not want to see in Walmart tonight? After working through some major customer issues with a large local account over the last few weeks I decided to post an article about customer service. Here are some quick tips on customer service: 1. Set the right expectations. In my experience, 60%+ of all customer issues should never have been issues in the first place and are simply a direct result of the sales agent setting...
read moreReprogramming POS
REPROGRAMMING POS WHAT YOU NEED? 1) NAME OF THE POS/SOFTWARE/GATEWAY 2 ) VERSION/EDITION NUMBER OF POS/SOFTWARE/GATEWAY 3 ) MAUFACTURER/VENDOR OF POS/SOFTWARE/GATEWAY 4 )CONNECTION TYPE IP OR DIALUP 5) SHOULD FRONT END BE SETUP UP AS HOST OR TERM BASED? (the software provider should be able to tell you this if you don’t know) 6) DETERMINE THE PLATFORM GLOBAL OR FIRST DATA 7 )GO TO THE COMPATABILITY MATRICES ON AGENT INFO CENTER TO MAKE SURETHE VERSION AND CONNECTION TYPE OF POS/SOFTWARE/GATEWAY CAN WORK ONTHAT PLATFORM ON FIRST DATA WE...
read moreCreating Momentum
As you begin to build your Credit Card Processing business you will be inundated with tasks that do not create momentum. These include installations, customer service, paperwork and other tasks that are essential to your business, but do not create momentum. There are only three tasks that create momentum: Meeting with a business owner for the first time. Obtaining a processing statement from a new merchant. Presenting a cost comparison to a merchant for the first time. Your goal in scheduling is to maximize the amount of time you spend on...
read moreNorth American Bancard Charges
Today I want to briefly cover one issue that, if handled correctly will not be a problem for you, but if handled incorrectly will waist hours of your time and create multiple cancellations as well as, lack of trust with your merchants. North American Bancard charges merchants on the first of each month following their approval (not their activation). This causes several issues that you need to be aware of: 1. Let’s say you sell a merchant on the 20th of the month and are still waiting for the terminal to come in on the 1st of the...
read moreSaving Time on Installs
When I first started my processing business, I thought that the biggest challenge would be making sales, but I was wrong. I quickly found that by using the prospecting procedures I had developed in other sales jobs, and offering “Interchange Plus Pricing” the sales came quickly. The challenge was doing the installations! I couldn’t believe how much time it took for me to do a simple installation! I remember one in particular was a Hypercom T4210 that I had to reprogram. The business didn’t have a dedicated phone...
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