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Table of Contents

Lead Story

The worldwide fraud web exposed

News

Industry Update

Acquirers await final draft of IRS rules

First Data shuffles it up at the top

Retailers push for interchange reform - again

Features

GS Advisory Board:
Positive economic signs and actions - Part 2

Selling Prepaid

Prepaid in brief

GPR cards to bridge 'plastic gap'

The 'fun money' company

Education

Street SmartsSM:
Let's interact and be inspired

Ken Musante

Creating sales with good collateral

Peggy Bekavac Olson
Strategic Marketing

Grow your business by branching out

Jeffrey Shavitz
Charge Card Systems Inc.

Digging into PCI - Part 10:
Track and monitor all access to network resources and cardholder da

Tim Cranny
Panoptic Security Inc.

Say less, sign more

Jeff Fortney
Clearent LLC

Company Profile

Elite Merchant Solutions

New Products

Automated, but not ignored, billing

Slim CD Enterprise
Slim CD Inc.

Beyond your basic value-add

National Benefit Programs
National Benefit Programs Inc.

Inspiration

Plan today for results tomorrow

Departments

10 Years ago in
The Green Sheet

Forum

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

April 12, 2010  •  Issue 10:04:01

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Grow your business by branching out

By Jeffrey Shavitz

Having had the opportunity to work with thousands of entrepreneurial merchant level salespeople (MLSs) during my career, I am now being asked more frequently by our sales partners how they can grow their businesses.

It's a pretty simple question. However, the answer is incredibly complex and, unfortunately, there isn't one correct answer.

If you're new to the payments industry, you have chosen a fascinating field in which to be a sales professional. Education is important.

You must understand interchange, the Payment Card Industry Data Security Standard, POS terminal types and so forth. But beyond that, how do you grow your merchant applications from a few deals per month to 20 per month and more?

Opening your own office

In my opinion, a top performing MLS maxes out at writing and submitting between 20 and 30 deals per month. If you are doing more than this every month, I applaud you. However, MLSs can increase sales by having an office and replicating their individual production by developing a team and hiring sub-agents.

So what should you look for when hiring new agents to join your team? Following are three factors to consider.

Building a productive business

Below are ideas to keep in mind to establish a positive office culture that will lead to more sales and greater profits.

Knowing what you want

Opening one's own office is not for everyone. Many of our sales partners are happy doing six to 12 deals per month, working a casual week and enjoying their quality of life. Conversely, I work with other MLSs and ISOs that strive for 100 deals per month and will not rest until their goals are achieved. If you are in the latter category, opening your own office might be the answer.

Growing your sales office is both exciting and challenging. The most important decision you will make is to clearly determine whether you want to continue as an independent salesperson, join forces with a partner, build a full-fledged sales office or do a combination of those options. Everyone is different. There is no right answer. Just make sure you have a focus and plan for whichever direction you choose to go.

Jeffrey Shavitz is one of the founders of Charge Card Systems Inc. He is also an active member of The Green Sheet Advisory Board and the First Data ISO Advisory Board. He can be reached at jshavitz@chargecardsystems.com or 800-878-4100. For additional information on CCS, please visit www.chargecardsystems.com/gsadvisoryboard or the company's corporate Web site at www.chargecardsystems.com.

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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