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Table of Contents

Lead Story

Payments industry boldly moves forward

News

Industry Update

FDIC warns banks about processors

IRS backs down on reconciliation requirement

Facebook becoming a payment business

Trade Association News

Features

GS Advisory Board:
Views on IRS reporting and TIN matching

It's time to build your sales force

Marc Beauchamp
Performance Training Systems

An interview with Harold Montgomery

Ken Musante
Eureka Payments LLC

Research Rundown

ISOMetrics:
Commanding retail categories

Minimal (but effective) marketing makeovers

Selling Prepaid

Prepaid in brief

Glitch in Google Wallet raises security concerns

FIs awaken to prepaid's power

Views

Shop small, shop local

Patti Murphy
ProScribes Inc.

Education

Street SmartsSM:
The ins and outs of marketing

Bill Pirtle
C3ET Credit Card Consortia for Education & Training Inc.

Legal strategies for an evolving marketplace

Adam Atlas
Attorney at Law

Modern payment pros fill the knowledge gap

Nicholas Cucci
Network Merchants Inc.

MLSs are masters of change

Dale S. Laszig
Castles Technology Co. Ltd.

Company Profile

Harbortouch

New Products

Mobile wallet commerce platform

Apriva Wallet
Apriva LLC

Inspiration

Are you trying too hard?

Departments

Forum

Resource Guide

Datebook

Skyscraper Ad

The Green Sheet Online Edition

February 27, 2012  •  Issue 12:02:02

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It's time to build your sales force

By Marc Beauchamp

Editor's Note: This article first appeared in Merchant Service Times, Jan. 31, 2012. Reprinted with permission. 2011 by Marc Beauchamp.

According to the Bureau of Labor Statistics, the U.S. unemployment rate is still high at 8.5 percent. In total, there are over 13.1 million unemployed people in the United States.

If you want to dig into the employment report, go to the Bureau of Labor Statistics website at www.bls.gov.

Enough doom and gloom. If you want more, just turn on the evening news, which I refuse to contaminate my brain with. Instead of continuing to focus on the problem, why not look for the potential opportunities the problem may present?

If you look at the majority of ISOs and agent offices in the business, most have chosen a distribution strategy of employing independent agents or contractors. One of the biggest challenges ISOs and agent offices face is hiring good, qualified independent salespeople. You know as well as I do that "you have to kiss a lot of frogs until you will find a prince" in the recruiting game.

Recruit now

I'm no rocket scientist, but in the middle of a declining employment trend affecting many highly skilled, highly educated workers, doesn't it seem self-evident that it's now time to start recruiting this pool of talent before someone else does?

Is it just a coincidence that franchise and business opportunity advertising experiences an uptick when unemployment is on the rise? I don't think so, these entrepreneurs realize that many people still yearn for the American dream of owning their own business and that many of these unemployed people have retirement savings and funds to invest in a new venture.

Our industry has the best recruiting story in the world:

OK, we know we have a good labor pool and a great opportunity. Now what? You can choose the market areas to recruit from that are geographically beneficial to your company and location, or if you are recruiting nationally, I recommend conducting extensive research.

Target wisely

When I work with a client developing a recruiting strategy, I usually conduct research from a variety of sources, including:

Use this raw data to intelligently target your ideal market via print or online advertising that best fits your business model. We have a window of opportunity over the next six to 18 months to hire hard-working, well-educated, experienced people who are a great fit for our business.

This is a win-win for everyone involved: they receive a fabulous career opportunity, you receive a great sales partner, and the country benefits by having them back on the employment rolls.

Many great fortunes have been made during the most challenging times in history. This is your opportunity to make a move while your competitors are still stuck in the problem.

Put the pedal to the metal, take massive action, and start building and expanding your sales organization. When you look back a couple of years down the road, you'll be glad you did.

Marc Beauchamp is a consultant and trainer for the financial services industry. He is author of How to Survive and Thrive in the Merchant Services Industry, founder of the Bankcard Boot Camp and offers a free monthly newsletter at his site www.surviveandthrive.biz. He can be reached by email at marcb@surviveandthrive.biz.

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

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North American Bancard | Harbortouch | USAePay | IRISCRM.COM | Humboldt Merchant Services