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Table of Contents

Lead Story

Data breaches, more than bad publicity

News

Industry Update

Insuring against compromise

Negotiating the economic currents

U.S. court trims AmEx's clause

ACH network gets more mobile

Features

GS Advisory Board:
Challenge breeds opportunity - Part I

PCI Compliance for Dummies

Sumedh Thakar and Terry Ramos

Standing together against online fraud

And the nominations are

Selling Prepaid

Prepaid in brief

eCommLink refocuses, targets global remittance

Data breach leads to payroll card fraud

Event Innovation Inc.
Stored value - That's the ticket

Views

Coming in from the cold at NEAA

Patti Murphy
The Takoma Group

The HMS odyssey

Ken Musante
Moneris Solutions Inc.

Education

Street SmartsSM:
Rules by which to thrive, not dive

Jason Felts
Advanced Merchant Services Inc.

How to write right

Nancy Drexler
SignaPay Ltd.

Dead-on delegation

Vicki M. Daughdrill
Small Business Resources LLC

Keep an eye on the store

Adam Atlas
Attorney at Law

The lowdown on downloads

Dale S. Laszig
DSL Direct LLC

Company Profile

TransFirst Holdings Inc.

MicroBilt Corp.

New Products

Giving salons, spas the Midas touch

TouchSuite Salon POS
Company: Invenstar LLC

RDC, scanner tandem for small merchants

Dep@sit
Jack Henry & Associates Inc.

Inspiration

Cut back without cutting out

Departments

Forum

Resource Guide

Datebook

Skyscraper Ad

The Green Sheet Online Edition

February 23, 2009  •  Issue 09:02:02

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Street SmartsSM

Rules by which to thrive, not dive

By Jason Felts

Many of today's business-to-business (B2B) merchant level salespeople (MLSs) have never weathered a true economic downturn. Many of us learned how to sell in the late 1980s through the early 2000s - a period that undoubtedly marked one of the longest business expansions in U.S. history.

In the good times, it's not hard to hit quotas while enjoying double-digit market returns, enormous escalations in property values creating easy access to equity lines of credit, and huge growth in the number of new jobs. But what do you do when the economy slams on the brakes?

Following are rules that will help you keep in business and thrive.

Always remember, prospects are not interested in the fact that you need a sale. Your presentation must be geared to them, for them, about them; it must promise them significant value. Prospects must be given a vivid understanding of both the advantages of moving forward with you as their sales rep and the pain they would experience if they procrastinate.

If you do not, or worse, cannot deliver that message with precision, you will struggle in this competitive climate made even more cutthroat by the slow economy. It's not just shooting fish in a barrel anymore. You need to earn your merchants' business and then expect it.

If you find yourself struggling, more than likely you simply need a better coach who can provide you the training necessary to make you thrive when the competition is taking a dive.

Jason A. Felts is the founder, President and Chief Executive Officer of Florida-based Advanced Merchant Services Inc., a registered ISO/MSP with HSBC Bank. From its onset, AMS has placed top priority on supporting and servicing its sales partners. The company launched ISOPro Motion, its private-label training program, to provide state-of-the-art sales tools and actively promote the success and long-term development of its partners. For more information, visit www.amspartner.com, call 888-355-VISA (8472), ext. 211, or e-mail Felts at jasonf@gotoams.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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