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Table of Contents

Lead Story

Long live the check

Patti Murphy
ProScribes Inc.

News

Industry Update

Ruling a window to hot legal topic

NFC not paramount in expert testimony

NRF will try to block settlement

PCI SSC offers IT accreditation program

Features

GS Advisory Board:
Views on Visa's FANF

Research Rundown

Meet The Expert: Rick Slifka

ISOMetrics:
Consumer payment habits

Why advertise?

Selling Prepaid

Prepaid in brief

Is direct deposit the secret to prepaid's future?

Players profit from open currency

Views

Check fraud is the problem, RDC is a solution

Patti Murphy
ProScribes Inc.

Education

Street SmartsSM:
Start with a strong foundation

Jeff Fortney
Clearent LLC

Stage set for expansion of mobile payments

Henry Helgeson
Merchant Warehouse

The mobile app's role in marketing and sales

Ron Tunick ('Coach')
Nations Transaction Services

New era, same old game for MLSs

Dale S. Laszig
Castles Technology Co. Ltd.

Prepare for the mPOS wave

Rick Berry
ABC Mobile Pay Inc.

Health-care fraud: Back with a vengeance

Nicholas Cucci
Network Merchants Inc.

Company Profile

Central Payment Co. LLC

New Products

A POS for Main Street merchants

POS-itivity!
CardWare International

Bringing social order to business

The Social Merchant
The Social Merchant

Inspiration

A lesson from the Greeks

Departments

Forum

2012 events Calendar

Resource Guide

Datebook

Skyscraper Ad

The Green Sheet Online Edition

September 24, 2012  •  Issue 12:09:02

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Inspiration

A lesson from the Greeks

The greatest good you can do for another is not just to share your riches but to reveal to him his own.
- Benjamin Disraeli

In Homer's Trojan War epic, The Odyssey, King Odysseus' friend Mentor epitomized the loyal adviser. The king's trust in Mentor was so great that when he set off for battle, he asked Mentor to become a counselor, educator and protector for his son, Telemachus.

From this ancient beginning, the concept of mentoring evolved. In modern vernacular, a mentor is an individual who shares knowledge with a less experienced colleague, commonly referred to as a protégé, to facilitate proficiency in a chosen endeavor.

Today, our lives are sprinkled with mentors - family members, friends, teachers, coaches, clergy and bosses - guiding us at important junctures. Some relationships are more formal and last longer than others. But each mentoring experience has molded who we are today.

Foundation building

In business, more experienced colleagues often acquire a tremendous volume of information and personal experience. Properly channeled, these resources can benefit newer members joining an organization. Knowledge gleaned from dealing with merchants and vendors, understanding which skill sets and types of expertise are essential, and sharing core company values can go a long way toward building a strong organizational foundation.

In a study by the Center for Creative Leadership, 77 percent of respondents from U.S. companies that implemented formal coaching and mentoring programs said they experienced improved retention and performance.

Another CCL study revealed that 27 percent of high-potential employees believe their organization could increase personal engagement by "providing a clear path that identifies the next steps in terms of development, experience and movement."

Talent tapping

For ISOs and merchant level salespeople (MLSs), identifying mentor talent should be a priority. Consider the requisite time commitment for mentorship to be an investment in the future.

Mentor and protégé pairings can be based upon areas of expertise and requested growth determined by candidates' answers to questionnaires covering education, training, experience, growth needs and goals.

Within ISOs, mentor pairings don't necessarily have to come from within the same department. Working with someone outside the protégé's own department who shares similar goals can offer a valuable, neutral perspective. This is not to say that a veteran sales manager wouldn't make an excellent mentor to someone joining the team. Having an open dialog beyond initial training can be integral to building the next sales superstar.

MLSs might begin a mentor search with a call to an industry expert who has contributed articles to this publication or offered advice in GS Online's MLS Forum. In addition, regional acquirers conferences and local business organizations offer opportunities to form alliances with veteran professionals, many of whom are willing to share knowledge with promising individuals who could become their own business or referral partners down the road.

Whether you are searching for a mentor or wish to become one yourself, remember, many of the skills used to acquire and retain merchant accounts also apply to mentoring. These include being an active listener to build rapport, having the patience to build trust over time, helping to establish goals, and offering the encouragement needed to succeed. With continuous monitoring and evaluation, mentoring relationships can stay on track until they run their natural course.

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

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Spotlight Innovators:

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