I am very surprised and disappointed when I learn that many sales people are not making much money! If sales people were ranked based on...
Building a Team of Local Sub Agents in Merchant Services
If you invest money and resources in people, you can build a very large local team very quickly. What I want to encourage you to do is put away a little money for a project like this. I believe it is a very effective marketing strategy for many of you who have not thought of […]
If you invest money and resources in people, you can build a very large local team very quickly. What I want to encourage you to do is put away a little money for a project like this. I believe it is a very effective marketing strategy for many of you who have not thought of it in the past. In order for this strategy to work you must take three things into consideration:
Then you want to “spend your money to buy accountability”. Let me explain what I mean by that, if you are paying someone 100% commission you really don’t have any grounds to hold them accountable. They are usually going to be upset if you try doing that. So don’t hold them accountable by paying them commission. Instead, this is what I do with new agents, I pay them $300 a week starting from the very first week plus an additional $50 to $100 per sale every week after the first sale. I also reimburse them for gas and get them a company cell phone. (The company cell phone is important because if they quit I get back their cell phone and I can pass it on to a new agent that has the same number that was given out to business owners.) Understand you are probably going to lose $1,000 before you start to make a profit as far as your payroll and costs. This is not including the utilities for the office and the office rent you will need to pay.
#3 – You must realize the risks involved. In order to begin, you will need $3,000 in the bank to bring on two sub-agents. You probably will need $4,000 or $5,000 to bring on three agents. I would bring on one to three people. If you have never done this before, just bring on one person. Trust me on this. You will be shocked at how much it increases the productivity of your office. Now here is what you do with that one person. Once they complete the training on Monday, Monday afternoon at 2:00pm you go out with your agent for two hours.
Next day you go out with your agent again from 9am through 11am. Then maybe take a break for a few hours and go back out again in the afternoon for a few hours. Show him how you pick a street and walk into every business on that street. Teach your agent it is vital to obtain credit card processing statements. The agent must realize his job is not to make sales but to obtain credit card processing statements. (He will need to make sales, but that will come later.) There are no sale requirements with this job and I will tell you why, there is only one requirement you need to lay down. The agent has to be out in the field for 30 hours a week. If you have someone working for you 30 hours a week, they are going to make 10 to 12 sales a month. If they do not work 30 hours a week, they do not get paid, even if they make one or two sales in a week. This is because if they don’t work 30 hours a week, eventually you are going to lose money.
If you are involved in merchant services full time and you have built up a portfolio. Maybe you are thinking it is time I start a sub-agent team. You can also shoot me an email at firstname.lastname@example.org.
Thank you and have a wonderful week!
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