Focus, or what I like to call “Emotional Energy.” Think about this – what percentage of your time do you spend truly focused on and working through important issues? Probably a very small percentage. Most of what we do could be classified into two categories. First is the time we spend doing things we already decided to do. These are the daily tasks that make up the majority of our working time and our personal time. The second big time investment is things that don’t take away from our “emotional energy” or focus at all like entertainment, social media and sleep.
Making decisions and changing our course is not only time consuming, it drains our emotional energy and focus for other decisions. You must show the merchant that while the decision to choose a processor should be a simple one, it is worthy of attention and focus. A business owner has many things on which he or she could focus: training employees, looking at financial reports, choosing vendors, marketing, and much more. Your value proposition must show the merchant why the decision to switch processors is worthy of the small amount of focus it will require.
So, in summary, your job is to minimize the risk, time and focus a business owner must accept in order to switch processing companies. On the other side of the scale, you should provide the owner with a value proposition which justifies the small risk to be taken, warrants the minimal investment of time, and gives a good return on the investment of emotional energy in the decision making process.
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How to Provide Financial Value to Every Merchant
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