Month: May 2023

It’s often been said that if you change your mindset, you will change your life. We’ve talked about mindset many times and we should all know by now that changing your mentality is a skill that will allow you to control your destiny and make the most of every opportunity that comes your way.

  If you truly want to change your life, you have to change your mentality. It sounds like a simple formula, yet it can be difficult. 

When a person has had the same beliefs for many years, they become stuck in their ways. Far too many people cling to their old beliefs that are no longer serving them. Sadly, because of this mentality, they have given up and feel that this is the way it’s going to be for them. 

  Changing your mentality is all about making a shift in your perspective. It’s all about opening your mind to new possibilities. By doing this, you can create the life that you want to live.

  The first step is to understand and recognize that changing your mentality is possible. Once you have come to that realization, it’s time to take the positive steps to make it happen.

  Far too many people go through life wandering around not knowing where they are going. They have no goals, vision, or plan. This is why they are stuck with the same old beliefs. You must focus on goals and building good habits. Where would you like to be in life one year from today? Be specific with your goals and start making a plan. Break your big goals down into small goals and work hard at them every day. 

  We all know that there is a lot of negativity all around us. Whether it’s the people that we hang around or what we watch on TV or see on social media. This, without a doubt, has a big effect on your mentality. Stay away from people who don’t encourage you. Be careful of what you are watching and what you are listening to. Keeping your head clear of negativity is absolutely crucial to getting into the right mentality. 

 Whether it’s in the business world or every day living, the mind is a powerful tool. Your mind can be your best asset or your worst enemy. A positive mentality gives you the power to change your life completely. When you have the right mentality, it helps you to achieve your goals, becomes successful, and create the life that you’ve always wanted. On the other side, a negative mentality will do nothing but hold you back and take away your happiness. Changing your mentality is absolutely essential if you want to create a long lasting positive change in your life.

Perhaps, you have been stuck in a negative mentality. The good news is that you can change that. You have the power to change your mentality. It may not be easy and it may not happen overnight, but once you truly realize that you have this power, you can change your life dramatically. 

 This power that you have is an incredible power. It is called “The power to choose.”

Choose to surround yourself with positivity and success. Limit your time on social media and stop watching garbage reality TV. This does nothing but pollute your mind. Start listening to motivational videos and podcasts. Read uplifting and inspirational books. Find a mentor that is in life where you are going or where you want to be. Surround yourself with people that are going to encourage you, inspire you and help you to achieve your goals. 

Changing your mentality requires effort and perseverance. I promise you that it is worth it. Once you have made the commitment to do this, new possibilities will open for you. You can find success and happiness that you may have thought you could never achieve. You can create the life that you want to live. Do not hesitate. Change your mentality and change your life today!

Happy Selling,

David

Happy Tuesday morning!

Returning to work after a long weekend always feels like a bit of a chore. You’re still in a kinda vacation mode, possibly still recovering from the sun, liquor and to much food and it can feel like a harsh reality to try and get back into the swing of things right away.

If you’re struggling with the shock of returning to work, here are a few things to help you adjust back to work life.

Focus on your objectives for the day

It can be helpful to create a to-do list with 3 non-negotiables items listed that you need to accomplish that day and several more things you’d like to get done. By having clear goals and the important tasks prioritized, you’ll feel more organized and focused. Work on completing one task at a time before moving onto the next. This will help accomplish completing your to-do list with intent and direction.

Purge your inbox

After a long weekend, you’ll need to tackle your inbox that’s likely filled with spam emails, messages you were CC’d on, etc. If that’s the case, sort your mail by sender vs. when you received it, that way you can go through the emails and focus first on the ones that you’ll need to address from colleagues, prospects, and action required. Anything that’s not relevant, such as spam and junk mail, simply select all and delete.

Schedule wisely

Upon returning to the field, try your best not to have to many meetings or calls scheduled the first couple of days. You want to use that first day or two instead addressing your inbox and tasks you need to get caught up on.

Give yourself time

Getting back to work after a three day weekend, cause be honest most of of you took Friday off as well, allow yourself some time to get caught up. It’s inevitable that you’ll have a lot to do, so take a deep breath and tackle each item one step at a time. By staying focused on your top objectives and prioritizing the most important tasks first, you will get caught up in a timely manner; take it one day at a time.

Happy Selling,

David

With Monday being Memorial Day and the unofficial beginning of summer, many Americans will celebrate Memorial Day weekend with barbecues, 5 Ks, and outdoor picnics.

Others will head to cemeteries to honor and remember their loved ones who sacrificed their lives for the sake of our country.

Civilians sometimes confuse Veteran’s Day and Memorial Day. Veterans Day celebrates all the men and women who have served in the U.S. military. Memorial Day honors the men and women who died while serving in the military.

Along with this misconception, there are many other things Americans don’t know about Memorial Day. 

Here are The Top 10 interesting facts about Memorial Day to help you recognize the importance of this federal holiday.

10. It Hasn’t Always Been Called Memorial Day

Originally, Memorial Day was called Decoration Day. The title Decoration Day came from how people spent the day – decorating the graves of soldiers with flowers and flags. This is a tradition that continues today with 260,000 graves at Arlington National Cemetery being decorated with American flags on Memorial Day.

9. There Is Debate about the Birthplace of Memorial Day

History books record the official birthplace of Memorial Day as Waterloo, New York. However, 25 other American cities claim to be the birthplace of the holiday, including Charleston, South Carolina, and Savannah, Georgia. This is still debated today. 

8. The Date Was Chosen for a Specific Reason

According to The History Channel, “On May 5, 1868, General John A. Logan, leader of an organization for Northern Civil War veterans, called for a nationwide day of remembrance later that month. ‘The 30th of May, 1868, is designated for the purpose of strewing with flowers, or otherwise decorating the graves of comrades who died in defense of their country during the late rebellion, and whose bodies now lie in almost every city, village and hamlet churchyard in the land,’ he proclaimed.” May 30 was chosen in particular because it was not the anniversary of any battles. 

7. But Now the Date Changes Every Year

The last fact may have caught you by surprise because this year Memorial Day falls on May 29. After originally being celebrated on May 30 for decades, Congress passed the Uniform Monday Holiday Act in 1968, designating the last Monday in May for Memorial Day.  The reason for this act was to allow Memorial Day to become a three-day weekend for federal employees.  The law went into effect in 1971, which is also when Memorial Day officially became a federal holiday.

6. Memorial Day Originally Honored Lives Lost during the Civil War

Decoration Day was originally intended to honor the lives of those who died fighting in the Civil War. Additionally, Southern states hosted their own Decoration Day, known as Confederate Memorial Day. Some Southern states continue to recognize Confederate Memorial Day. However, after World War I, Memorial Day grew to honor all military members who died serving in any military conflicts. 

5. U.S. Presidents Mark the Occasion

It’s customary for the current U.S. president to deliver a speech at the Tomb of the Unknown Soldier on Memorial Day at Arlington National Cemetery. President Ulysses S. Grant gave the first Memorial Day speech at Arlington National Cemetery. The speech lasted almost two hours.

4. A Moment of Remembrance Is Held at 3 P.M.

There is a law in place that requires Americans to remember those military members whose lives were lost. According to the White House Commission on Remembrance, “The National Moment of Remembrance, established by Congress, asks Americans wherever they are at 3 p.m., local time, on Memorial Day to pause in an act of national unity (duration: one minute). The time 3 p.m. was chosen because it is the time when most Americans are enjoying their freedoms on the national holiday.”

3. Memorial Day Parades Are a Well-Loved Tradition

Many American families will spend some time enjoying a parade this Memorial Day. This is an ongoing tradition.The Ironton-Lawrence Memorial Day Parade in Ohio, which started in 1868, is the longest continuously running parade, but the first Memorial Day parade was held in Doylestown, Pennsylvania in 1867.  For the largest Memorial Day parades in the country, head to the National Memorial Day Parade in Washington, D.C., or the Little Neck-Douglaston Memorial Day Parade in Queens, New York.

2. Memorial Day Unofficially Begins Summer Travel Season

While the official start of summer begins with the June solstice (June 21, 2023), many Americans treat Memorial Day as the unofficial start of summer. The combination of warmer weather and a three-day weekend also gives way to one of the busiest travel weekends of the year. AAA predicts, “From May 26 through May 29, more than 37 million people are expected to travel 50 miles or more from home, an increase of 60% from last year when only 23 million traveled.”

And the #1 Interesting Facts about Memorial Day is…. 

1. A Massive Number of Hot Dogs and Beer Are Consumed Memorial Day Weekend

Memorial Day is often associated with outdoor picnics and barbecues. So, it shouldn’t be too surprising to discover that 70% of Americans plan to cook out for Memorial Day or that Americans consume a ton of hot dogs and beer over the three-day weekend. 818 hot dogs are eaten every second during the summer, beginning with Memorial Day. Plus, Memorial Day is the second-highest-grossing weekend for beer sales (to bad Bud light) in the United States, only behind the Fourth of July. , Interesting to note,  there are more than 120 running (races that take place on Memorial Day so folks can run off the calories they consume over the holiday weekend.

Have a great 3 day Memorial Day weekend and stay safe,

David

Today’s merchants have been through a lot, especially in the past few years. Many business owners had to make the tough decision to lay off employees, cut back hours, or even shut their doors completely. It is important to take this knowledge of what small business owners have endured and factor it into your merchant services sales pitch. In today’s post, I’ll share some tips to help you evolve your pitch.

TIP ONE: Put the Merchant First

You might not know how a merchant’s business is faring before reaching out to them. If you’re going to have a chance at making the sale, it’s important to lead with empathy and try to solve for the merchant’s specific needs.

Keep in mind that empathy is not pity. Empathy is the ability to understand and share the feelings of another person. Most merchants don’t want your pity, but they will appreciate your understanding. Maybe now’s really not the time to sell to them, and that’s okay. Don’t push it, or you might damage the relationship before you have the chance to truly nurture it.

If the merchant really isn’t interested in hearing your pitch right now, try to leave them with some information about the solutions you offer that may help them out in the future. Here’s an example of how the conversation might go:

MERCHANT: I’m sorry, I just really can’t commit to anything right now. My budget is super tight.

YOU: I completely understand that now is not a good time. Can I leave a few materials here with you? They include information on the latest payment technology we can offer that may be helpful for your business in the future.

MERCHANT: That’s fine.

YOU: Great, thank you. Feel free to call or email me if you have any questions about that information. I’ll also make a note to follow up with you in a few months or so to see how you’re doing.

TIP TWO: Focus on Offering Great Service

Support is very important to business owners right now. If they’re going to commit to your solution, they will want to know you’ll be there to help when they need it. Be ready to make that commitment and truly mean it!

Focus on building trust with merchants and begin building lasting relationships. Maybe they won’t pay off right away, but if you continue to nurture and support the relationships you make, you never know what will happen. The merchant might finally sign with you and bring a partner business along because they’re impressed with the rapport you’ve developed. You never know what will happen when you go above and beyond.

TIP THREE: Ask Intentional Questions and Listen Closely

When it comes to selling merchant services, the key is to ask a lot of questions. Following a simple “20 Questions” model won’t help you out, however. Your need to ask intentional, thought-provoking conversation starters. Here are five guidelines to help you start crafting a list:

1. Avoid ‘yes’ or ‘no’ questions.

Asking a definitive question that solicits a simple ‘yes’ or ‘no’ is a great way to stop a conversation before it even starts. Of course, this is the opposite of what you need. Therefore, we advise against asking those types of questions especially at the beginning of your pitch or first meeting.

For example, instead of asking, “Are you happy with your credit card processor?”, ask “What is the biggest issue you have with your merchant services provider?” This way you gain an important nugget of information you wouldn’t have uncovered with a ‘yes’ or ‘no’ question.

2. The rule of three (questions).

Your goal in being inquisitive is to gather as much information about the merchant and their business as possible in a short amount of time. That means you can’t possibly stop at one question, unless the merchant clairvoyantly provides every tiny detail you need before you even ask. In the likely event this isn’t the case, we recommend following a simple rule of three.

For example, let’s say the merchant mentioned lack of support is an issue with their current provider. To find out more, follow up this statement with three qualifying questions like, “When do you most often need support?”, “What issues have come up that you needed help with?”, and “About how many times would you say did not receive support from your provider when you needed it?” When you learn more about the merchant’s problem, you’ll put yourself in a better position to solve it.

3. Try to generate specific answers.

To develop an impressive sales pitch, you first need to gather as many qualifying details from the merchant as you can. Do your best to develop specific questions to have the best shot at specific answers.

For example, instead of asking “Are you unhappy with your merchant services provider?”, try something like, “What is the single biggest issue you have with your current merchant services provider?” Then, solve for that issue in your sales pitch.

4. Listen closely.

Don’t get so caught up planning your next question that you miss the answer to the first. Pay close attention to what the merchant is saying and turn your questioning into a conversation.

For example, let’s say the merchant explains the biggest issue they have is their credit card terminal. You’ll definitely want to get to the bottom of that issue before delivering your sales pitch. Continue talking with them about the terminal – is it too slow? Does it break down often? Is it too outdated for modern EMV chip cards and contactless options? Once you’ve figured out where their current terminal fails, craft your sales pitch around a new terminal that excels.

5. Ask for the story of a merchant services struggle.

Everyone loves a good story. To break the ice, try asking the merchant to share the story of a time when their merchant services solution failed them. Perhaps they’ll recall a time when their point of sale system broke down in the middle of a big rush, or the day their online shopping cart glitched and lost a bunch of new orders.

Keep this story in the back of your mind, and reference it in your sales pitch. For example, “Earlier you told me the story of that point of sale breakdown in the middle of the busiest time of the day. I can prevent that from happening again by offering a hybrid cloud and server-based point of sale system that keeps running, no matter what.”

As with any craft, practice makes perfect! If you sometimes struggle to come up with questions like these on the spot, try sitting down at your desk and making a list of as many as you can. Study this list and add to it as time goes on! Soon, thought-provoking questions will become second nature to your sales strategy.

Use last Friday’s Top Ten List on Way to Earn a Merchants’ Trust

I hope the tips and guidelines included in this post will help you improve your merchant services sales pitch.

Happy Selling,

David

Merchants have endured a great deal of struggle lately, notably during the COVID-19 pandemic. Many businesses were forced to cut back on hours, lay off workers, or even close their doors entirely. As a result, folks have realized the significance of technology in their businesses. The merchant services industry is no exception. Due to their importance, a local professional sales agents are now essential. 

You may be surprised to learn that only 20% of merchant accounts are opened by banks, while sales agents open the remaining 80%. If current e-commerce trends continue, local sales agents will continue to play a key role in opening merchant accounts to even more enterprises. 

Which is to say, this is the best time to have a merchant services business. 

In today’s post I’ll give you tips to market your business so you can take advantage of the growing market. Let’s get started.

How to Market Your Merchant Services Business

Whether you’re just starting as an agent or have been in the industry for a while, there are various things you can do to improve your chances of success. Here are some pointers to help you flourish at being a professional sales agent and expand your merchant services company: 

Focus on Offering Excellent Services

Every business owner values support. If they are going to be committed to your solution, they will want to know that you will be available to assist them when they require it. Be prepared to make that commitment and follow through on it. 

Concentrate on developing trusting and long-lasting relationships. They may not pay off right away, but you never know what will happen if you continue to develop and strengthen the relationships you build.

Define Your Target Market

This is probably one of the toughest points to achieve. When marketing online or through other types of paid marketing, you must be very detailed and strategic about your target market. A good rule of thumb for a typical salesperson is that their target market must have between 500 and 1,000 prospective clients. You may eventually have the resources to pursue three or four target markets of this magnitude, however, your best results will come from segmenting your market and targeting each segment separately.

Create a Daily Schedule and Stick to It

Every independent sales agent chooses their own hours. And you should do likewise. This means you must find techniques to keep yourself focused, on track, and resourceful. To make the most of your time, try to plan out each hour of your day. 

You might want to spend an hour or two working by yourself in the morning, then meet with a new client before lunch, and then follow up with existing customers in mid-afternoon. Stick with your daily regimen after you’ve found one that works for you and produces results. This is why setting up a daily calendar alert is essential. This will remind you to transition between projects and create daily sales quotas to keep you motivated. 

Social Media is Your Friend

Social media is an effective sales tool for a variety of reasons. It is not only free and simple to use, but it is also an important resource for research, outreach, and prospecting. LinkedIn is the perfect place to experiment with social selling because your target audiences are merchants. To establish yourself as an professional sales agent, interact with real-life connections and local businesses, comment on public posts, and share relevant content. You should also join relevant LinkedIn groups and engage in the discussions. This is a simple approach to get your brand out there, boost your industry reputation, and engage with potential leads.

Take Advantage of Your Existing Network and Ask for Referrals

Your family, friends, and local business owners can be powerful allies. Make sure they understand what you have to offer and that you are continuously looking for new business prospects. Although it may appear straightforward, some sales agents underestimate the potential advantage of using their current network. Engage with small business owners whose establishments you frequent, be generous with handing business cards to people, and be ready to explain the benefits of your offering if a possible lead appears right out of the blue.

Furthermore, once you have a few clients on your list, you should keep in touch with them on a regular basis to build great relationships. Say a quick hello, stop by their store, give them a quick call, or send a brief email. Another reason to follow up is to see if they have any contacts who could benefit from your merchant services. One referral might lead to a successful, long-term relationship for both you and the client, as well as other referrals in the future.

Find Your Decision Point

When you first introduce your service to a prospective client, you don’t want to bully them into registering an account immediately. Rather, you’re hoping to convince them to reconsider their opinion about payment processing. Brute force is not the way to go here.

One of the biggest obstacles to sales is that so many merchants are not actively seeking to switch providers. Hence, it is extremely important to plant the seed that ignites that thought process. Discuss the significance of finding the right way to tackle their payment processing needs. However, don’t start your pitch until you’re confident they’re open to listening to you about your merchant services. Otherwise, your efforts will go to waste.

Make Sure the Odds Are in Your Favor

If you’re having trouble making sales or are in a slump, don’t let rejections get to you and make you doubt yourself. The merchant services market is no doubt competitive and finding suitable connections can be difficult. However, the more you use your network and perform cold outreach, the longer your list of connections will be – and the greater your odds of success. So, don’t be discouraged. Sales are all about the number at the end of the day. So, if someone declines your offer, move on to the next person on your list.

The most effective method to excel at something is to take advantage of all the tools available to you. Be it using social media, your own existing network, or just offering great services, you can grow a lot by the way you market yourself. Hell, walk into each target business in your industry and ask for an email address so that they can have free access to your tailored content. Don’t be afraid to put yourself out there. If you’re seeking a competitive advantage, you have to put in the work.

Let me know in the comments how you market to your prospective clients.

Happy Selling,

David

Cold calling never ends in the business of marketing merchant services. The practice will always take place. Hence, you should never stop adding new prospects to your pipeline. And if you want to generate more money with credit card processing, now is the time to increase your cold calling efforts. 

This article will provide you with tips on how to maximize cold calling results as well as adopt new email marketing and social media methods. 

How to Step Up Your Cold Calling Skills

Highlighted below are some tips to help you step up your cold calling technique in merchant services:

Differentiate Yourself From Your Competition

You know exactly what the other independent agents in your market will say when they cold call for new clients.

If you want your cold calling to be ordinary, simply say what everyone else is saying. To succeed and be better than average, you must do something distinctive. Find ways to differentiate your messaging to reduce the friction that comes from receiving a cold call.

Research is Everything

This tip might seem quite obvious, however, it is still included on this list due to its significance. When it comes to enhancing your cold calling skills, research is everything.

Before you make any calls, you should be aware of the following:

• What defines the prospect’s business?
• What excites the prospect?
• The issues that this prospect and his or her firm may be experiencing
• How your product or service would benefit them as a solution.

Have a Thorough Understanding of What You’re Selling

Before you begin cold calling, keep in mind that you cannot offer a product or service that you do not understand. During a cold call, any gaps in understanding will become clear. A lack of enthusiasm or conviction will never result in a successful transaction.

You should be enthusiastic about sharing your products or services. Even on a cold call, excitement can spread. So, skip the automated cold calls; enthusiasm and charisma can help you attract the right clients. 

Prepare and Practice What You’ll Say to the Merchant

The good news is that when you cold call them, most prospects usually say the same thing. This means you can plan ahead of time, practice, and improve. Stop evaluating your sales performance in terms of luck. 

Using the right questions and statements will result in your prospect gaining interest, but using the wrong words will result in a “No.” You can begin to enhance your cold calling skills once you accept personal accountability for your sales performance. Take some time after you leave to scribble down what a prospect said, and then when you’re finished for the day, you could start thinking about a better solution and practice until you get it right.

Know the Right Time and Season to Call Some Businesses

Avoid calling retail businesses a day or two before Black Friday or during the Christmas season. It will be nearly impossible to speak with the right person. You wouldn’t want to call businesses like pizza shops or fast food at lunchtime. You also wouldn’t want to call fine dining restaurants in the evening. This implies that each business type has a time and season when they are extremely busy. Hence, if you want them to listen to you, you must call them at the right time. 

Always Try to Collect Your Prospect’s Information

No one can close every prospect they pitch. Rejection is an inevitable part of the outbound sales process for everyone. That is simple to understand intellectually, yet it might be difficult to genuinely embrace after waves upon waves of denial.

One of the most common mistakes that salespeople make is giving up when they hear “No.” When a prospect says “No,” what they truly mean is, “I don’t know much about you or your program to make an informed decision to your benefit.”

When a prospect says “No,” you must take two steps. Before you give up, you must first try to convince them at least twice. They usually want to test if you are self-assured enough to persist. Second, you should get at least an email address as well as the first name so you can keep in contact. 

Focus on Buying Time

You include cold calling in your sales process because you feel it will boost your outbound sales. However, your priority with each cold call should not be to close the deal – at least not immediately. Rather, your first goal should be to convert the ten seconds you spend with a prospect into ten minutes.

According to LinkedIn, the longer your cold calls last, the more likely they will result in a meeting. So try to keep them on the phone with you by keeping them interested. You do not have to persuade them to buy your stuff straight away.

Grow Your Database By Using Email Marketing and Social Media

You may significantly improve your cold calling outcomes by doing some work in your spare time. One of them is connecting with every prospective client on LinkedIn. You should also send some helpful article links to each prospect maybe once every month. Don’t forget to follow each prospect’s company on social media and engage in their content. At the very least, most businesses today have a Google Maps listing, a Facebook page, and a Twitter account.

Follow Up, FOLLOW UP, FOLLOW UP 

The final step is to follow up and try to close the deal. If you have a prospect who has said “No,” it is a good idea to have a few nice interactions with them before bringing up the subject again. It could be a quick chat on their social media page, a message on LinkedIn after they accept your connection request or an email conversation about a link to the article you sent them. When someone says “No,” and you still believe they are a suitable prospect, make it your aim to engage in positive, two-way dialogues with them over time before trying again.

ONE Final Thought

You now have a clear picture of what to do whenever you pick up the phone to call a prospect. Hopefully, you will use these tips to improve your cold calling skills and gain more merchants as clients. This approach may not create remarkable results immediately, but adopting a step-by-step process like this one will produce excellent long-term benefits.

Happy Selling,

David