I just got an email from one of our top agents asking the following question: “I want to increase my exposure in my local town and am trying to...
How to Succeed in Merchant Services
I just wanted to send out a quick email because I just got off the phone with one of our top agents and he and I were talking about what it really takes to succeed. One thing I told him is that I never want to mislead our agents the way so many other recruiters […]
I just wanted to send out a quick email because I just got off the phone with one of our top agents and he and I were talking about what it really takes to succeed. One thing I told him is that I never want to mislead our agents the way so many other recruiters do by telling them how easy it is or how much they can make with very little effort. Here are a couple facts that I wanted to share with you from my top agent friend:
#1 – If you are spending less than 8 hours per day or 40 hours per week on this business you have very little chance of succeeding. That means if you have no clients and only a few follow ups, you should be spending more than the minimum 4 hours per day in the field. The top agent I was just talking to adds 20+ new prospects per day to his Podio account and he is selling 15+ deals per month and already has a good sized customer base. If you are creating goals to shoot for, use this top agent has a goal not the minimum expectation of 10 new prospects per day.
#2 – You are starting your own business. Starting a business takes focus, dedication and hard work. Starting a business means doing some things that you don’t like to do or working longer than you want to work in order to make your business become a reality. Once your business is large and growing, you will be able to delegate some of those tasks but, right now you are your business so your effort and work is the only factor in your business success.
#3 – This business is awesome!!! There is nothing else like it. If you put in the hours and effort over the next 6 months, you will build a business that will seriously change your life. Both this top agent and myself were talking about how nice it is to know we could take off for 6 months or a year and hardly even effect our income. How nice it is to know that if something came up and we needed $50,000 in a couple weeks we could just sell a tiny portion of our portfolio back to the processor and have $50,000 in cash in a couple weeks. How incredible it is to see your monthly income increase by $500 or more every single month which is basically like getting a $6,000 per year raise every month. My personal residual from March to April increased $1,400! This is an amazing business and one that can create the kind of income and lifestyle you want.
However, I want to make it clear to each one of you that it isn’t easy. It takes hours and hours of time in the field walking into businesses even when you don’t feel good or want to use a personal excuse to take the day off. It means keeping track of every prospect and working every prospect as if it was your only one. It means caring about the local businesses in your market and recognizing that you are providing value to them to help them save money. This is your business, are you passionate enough to work 8 hours today? Are you passionate enough to walk into 10 more businesses after you already achieved your goal of 10 new prospects per day? Are you passionate enough to go back the 5th time to get a statement from a prospect because you know that you have the ability to put a few thousand dollars a year back into his pocket to pay the bills and maybe pay for a family vacation? I have seen dozens of agents succeed in this business and I have seen dozens fail and the common denominator among the successful agents is not sales ability or charm. It is not business experience or sales experience. It is not connections or huge networks of business friends. The common denominator is simple. Hours = Income Work the hours, have the passion, put in the effort and you will have the income.
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