In today’s post, I would like to discuss how to partner with bookkeepers and accountants to sell merchant services. No one in your local community...
The Top 3 Reasons to Build a Merchant Services Business
There are a lot of opportunities out there knocking on your door, so why should you invest your time building a merchant services business? You could use your abilities as a sales agent to sell many different things; why sell credit card processing services? Below I have listed the top three reasons why I believe […]
There are a lot of opportunities out there knocking on your door, so why should you invest your time building a merchant services business? You could use your abilities as a sales agent to sell many different things; why sell credit card processing services? Below I have listed the top three reasons why I believe selling merchant services is a great way to build your current and future success as a sales professional. If you are already selling merchant services, I hope this article will encourage you to keep going. And if you are looking to start a business and considering merchant services, I hope this shows you the opportunity which is available.
3) Independence and flexibility within a structure of training and support – Many successful sales agents realize their sales ability is the driving force behind the business for which they sell. This realization often leads them to decide to go out on their own and start building a business. However, just because you know how to sell doesn’t mean you know how to build a business, create an effective action plan, or execute a strategy on your own. If you plan to go out on your own, you will need to create your own structure and accountability to be successful. One of the best ways to do this, is to set goals and track them in a CRM like our Instant Quote Tool. There are a lot of businesses out there that you can start. But I believe that if you set it up right, starting a merchant services business can provide the best balance between freedom and accountability.
2) No Investment Required – If you are thinking about starting a business, you already know how much money is required to do that up front. In fact, one of the most commonly asked questions is, “How much does it cost to get started?” Most businesses, even most credit card processors, do not provide significant up front compensation. So you are forced to start with a large savings reserve and even money up front for advertising, infrastructure, etc., while you build your profits. The great thing about our industry is that if you are currently in a sales job, the odds are you already have the tools you need to succeed in this business. I have done my best to lay out a strategy you can follow with no money up front. This isn’t a get rich quick scheme. It does take a lot of time and hard work. But this is a business you can start without any money in the bank, as long as you know how to sell and are committed to making it work. This is because many processors in our industry offer up front compensation when a sale is made, as well as residual income. The only difficult part is choosing the right processor and the right program to maximize your earnings on each sale as an independent agent but with the Instant Quote Tool, we will enable you to compare multiple processors and programs instantly!
1) Combination of Up Front and Residual Income – I have had a lot of different sales jobs and even done some MLM programs. One thing I have found true is that you can’t have your cake and eat it, too, when it comes to up-front money. Every opportunity seemed to either offer a great up-front income plan, a great residual income plan, or a combination of the two that was lacking on both counts. That is why I was so skeptical when I started working with larger processors in this industry; they seemed to be offering a great up-front income plan with an awesome residual as well. If you really want to build a business, there are two financial needs that must be met.
First, you must be able to put food on the table and pay the bills during the short term.
Secondly, you must be building a long term income. Otherwise, why go into business at all, right? The best thing about building a credit card processing business is that you get both of these. Many sales professionals in this business have generated enough residual income to live comfortably without making another sale. The crazy thing is that while they built that income stream, they were making up-front money off of every sale…what a deal! If you are thinking about jumping into the merchant services business or looking to make a change, let’s jump on a quick phone call to talk about the opportunity. I am connected with all of the major processors in the industry and I share a unique perspective on choosing the right processor as well as the right technology and training to be successful!
Feel free to email me anytime, firstname.lastname@example.org
Have a great day!
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