This week’s episode features an interview with John Beebe, an industry veteran who has built and sold several large merchant portfolios and now works...
3 Ways to Grow Your Merchant Services Portfolio
How can you grow your portfolio? This is a question that is not as simple as it was 3 years ago. The answer to this question 3, 5 or 10 years ago was simple. Walk into more businesses, lower your rates even further and strong arm someone into saying yes RIGHT NOW! Things are changing in a big way and this mentality is out of date and dying fast. Here are my 3 tips for growing your merchant services portfolio into the future.
#3 – Get Trained. If you really want to grow your merchant portfolio, cheaper price is no longer enough. You need to understand EMV Compliance, PCI Compliance, Mobile Payment Technology and above all, solution selling techniques. You must become an industry expert! Take the time to read blog articles, news articles, watch videos, listen to podcast episodes and read sales books. If you want to grow your portfolio, you must grow personally! What have you learned in the last week, month or year that is transforming your sales approach? If the answer is “nothing” then your portfolio will decline over time unless you get serious about gaining knowledge that your clients will find useful. I love this industry! It is increadible what can be accomplished.
Today I spoke to an individual sales partner that has 20 sales for the month of July and is on track to break our all time sales record of 27 deals in one month! His residual income is going to grow at a rate of close to $1,000 per month and as he implements new technology solutions like web design and touch screen POS systems, this residual will be secure as long as he stays organized, online and trained. I hope you experience similar success!
Have a great day in the field!
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