SUMMARY: One big opportunity in the payments space is worth a lot of money right now. Help local businesses re-open while building a rock-solid portfolio. From the human perspective, this Covid19 has been a terrible and sad event. Although not in any way diminishing […]
SUMMARY: One big opportunity in the payments space is worth a lot of money right now. Help local businesses re-open while building a rock-solid portfolio.
From the human perspective, this Covid19 has been a terrible and sad event. Although not in any way diminishing that, from a business perspective, this difficult season offers many opportunities. Through this difficult time, we can see who’s good at business. Who is good at sales; who is driven; who is going to be successful?
Anybody can be successful in the good time. But success in long-term business of any kind, especially sales, involves bad times. Most business people suffer bad set-backs every 5-10 years. These come from situations which are out of personal control.
What you do in those bad times gives you the right to gain the success you desire. Creativity comes to the forefront during those times. Times of change always create many opportunities. There are so many opportunities right now that it blows my mind!
In this episode, I want to help you identify the great opportunity of helping retail re-open. In my desire to purchase a particular product recently, I began searching Amazon. However, since I pass Best Buy en route to and from my office each day, I decided to check their website. I easily completed my purchase online, stopped at the store the next day, and they brought the product to my car. This experience was a reminder of what’s necessary for retail to re-open.
The pandemic has exposed some bad habits in retail. Businesses which haven’t survived were probably on the path of failure anyway. In our society, retail stores are basically a storage place for inventory. If consumers don’t find a website listing inventory, they don’t want to come to your store.
No one today is going to visit seven different stores looking for a product! But a store can offer speed of delivery which is not an option for Amazon.
One good example is a business selling high-end bikes. There’s no reason for a bike shop to go out of business during this time in history when almost everyone wants a bike! However, some bike shops have no way of selling a bike right now. Have a website! If I had seen an advertisement online from a business offering bike delivery, I probably would’ve bought one during this lockdown.
My point here is that some payment processing professionals and/or ISOs will make a fortune helping retail re-open in their market. This is a great time for you to focus on verticals – something I mention often.
Find the right technology solution for businesses, one which allows them to be available online. In doing this, you’ll be putting businesses where they must be in 3-5 years anyway in a world dominated by Amazon and Walmart. Help owners take their business online and make it searchable.
Google can search the inventory of a business if the business makes it available. There are others like me who would prefer doing busy locally. However, I won’t buy local at the expense of my time and productivity. I want to know if the product is available at the store and if I can pick it up on the way to work.
Think of the opportunity in the payments space of helping retails accomplish that objective! That, my friend, is worth a lot of money. Target the verticals. Help them re-open while building a rock-solid portfolio. You’ll have real relationships and help local businesses thrive in today’s new reality.