By Aaron Nasseh
Editor's Note: Unexpected developments have made it impossible for Finical Chief Executive Officer Aaron Nasseh to complete a full year as Street SmartsSM author. Thus, this is his last article in that capacity. We are sorry for his departure and will miss the calm, concise advice he has offered ISOs and merchant level salespeople (MLSs) to enhance their knowledge and effectiveness in the payments business. Stepping in on short notice will be Steven Feldshuh, President of Merchants' Choice Payment Solutions East, whom many of you will recognize from the refreshing, informative articles he has written for our Education and Views sections. He will take over the column as of our Sept. 11, 2017, issue.
As I write my final article for Street SmartsSM, I can't help but be excited about the opportunities available in our ever-changing industry. While some believe this industry has long passed its best days and that the race to zero is all but over, I respectfully disagree. Countless opportunities still exist within our industry. In fact, I would argue that with some of the newer pricing programs available today, the industry has turned the profitability margins back a good 15-plus years.
During the months I have been writing for The Green Sheet, a number of you have been kind enough to contact me and show your appreciation for the articles. It seemed like the universal theme in the discussions was related to tips on how to increase sales. So, for the purposes of this article I'm going to focus on the smaller MLSs who are hitting the streets daily, and doing the hard work to sign up new accounts. I found that most of these good people were not lacking in effort, they simply did not know how to multiply their efforts.
I would like to share tips on how you can go from a one-person shop to a high-producing sales office – without you signing up a single merchant account. Sounds too good to be true? It's not. That's the beauty of our industry.
The secret is in building teams. However, this is no simple task. To build a solid team you must first be a good leader, you must be a good coach, and it goes without saying that you must have reasonable experience with merchant services sales.
Here are some key steps to start building your team:
This may appear too simple to some of you, but the truth is that it is literally this simple – but not that easy to execute. However, if you diligently follow these five simple steps – and never take your foot off the accelerator when it comes to recruiting – before you know it, you'll have dozens of MLSs working under your office and producing accounts.
It does take time to build up your sales team, but when you do, it will be well worth your efforts. There you have it. You now have a sales team working under you and producing accounts, without you having to sign up a single merchant. Additionally, building a successful sales engine will directly have a positive influence on the valuation of your business.
In closing, I would like to take this opportunity to thank The Green Sheet for asking me to write for Street SmartsSM. It has indeed been an honor to be a part of it, and a very gratifying experience to be able to share with you some of the lessons I have learned throughout my career. I hope you enjoyed reading my articles as much as I enjoyed writing them. I wish each and every one of you lots of success and happiness.
Aaron Nasseh is the founder and Chief Executive Officer at Finical Inc. His extensive sales and management experience includes having previously served as the General Manager of CardPayment Solutions and Vice President of Sales at iPayment Inc. He may be reached at firstname.lastname@example.org or at 818-330-4055.
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