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...
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” – […]
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 identify with your new career choice. Have you updated your linkedIn profile to let your connections know about your new business or are you the “undercover agent?”
#9 Prepare for Failure, Keep Your Options Open – Maybe you had some other job offers on the table when you chose to start your career in merchant services, are they still on the table or have you fully focused on this new opportunity with no plan other than success?
#8 Don’t Complete the Core Training
#7 Keep Training Until You are “Ready” – If you have completed the core training, it is time to get out in the field. Don’t keep going through the training over and over and constantly seeking some new excuse to get started. Just get out in the field and start prospecting.
#6 Pre-Judge Every Business Before You Walk In – One of the most common mistakes that new agents make is spending pointless time trying to figure out if each business is a “good prospect.” This is a waste of time. If it is a retail, restaurant, service or automotive service business and it is not corporate, just walk in and see what they say.
#5 Set Unrealistic Expectations – A great man once said, “Don’t Dream of Achievement; Dream of Effort.” Many agents become discouraged because they set goals like, “I am going to make 5 sales this week.” That is an Achievement and they should actually set goals for effort like, “I am going to walk into 100 businesses this week.” This is a goal that is within their control and one that can be achieved.
#4 Ignore Important Relationships – A huge percentage of the agents who start and then fail to succeed in this business are actually a victim of poor communication with their spouse or significant other. Sit down with those who are important in your life and explain the hours you plan to work and the money you will make (which will be small at first) and let them know you don’t want to start unless they support your decision to dedicate at least 3 months to this project regardless of the results.
#3 Don’t Schedule Your Day – Some agents have the philosophy of “Let’s see what happens today?” This is a guarantee for failure. A schedule is the difference between telling your time where to go and wondering where it went. Live your life on purpose!
#2 Don’t Memorize Your Opening Pitch – This is the most common sales mistake I see from agents in the field. I am amazed when even long time agents I speak with do not have an opening pitch memorized. Have your friend or loved one role play with you and make sure you at least know the first 2 or 3 lines you will say to a first time contact.
#1 Don’t Get Out of Bed in the Morning – The number reason agents fail in this industry is that they don’t get out of bed in the morning. If you are not at a prospects location or working at your desk by 9 am, it will be very difficult to succeed in this business. Keep in mind you are selling business owners and most business owners get to work early and like to leave early.
I hope these short tips will help you!
James Shepherd email@example.com
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