For all of us in the sales world we know better than anyone that the process goes much deeper than just closing a sale. The sales path to closing a new business varies based on industry, but it is rarely a straight and clear-cut path. A Successful sales professional is someone who hits the ground running, does their due diligence on industry standards, and is up to date on all changes in the merchant services industry, maybe.
1. Someone Who Is Passionate About What They Do
Going the extra mile for a client is a sure way to build client trust and grow your business at the same time. By continually providing superior customer service to your clients and going above the status quo, people will take notice of your level of dedication, and to most
2. Invested In Their Customers and Their Education
A truly talented merchant services sales professional or sales individual in any industry knows that knowledge is power. By having a strong understanding of your industry as well as your clients, a sales rep can better position themselves to highlight pain points and issues that may leave certain business owners hesitant to switch Merchant Services.
By being able to inform your client on what POS systems, products, and services will benefit their business best you are becoming a resource for that business owner. This can differentiate you from other Merchant service companies as you are devoting time to help the business owner on a professional level, but on a resource level as well.
Since the Merchant services industry and all other industries can change dramatically over time regarding a change in laws, new regulations, and new disruptors; it is important to do continuous research so that you can serve your customers best by being up to date on all things ISO.
3. They Listen
While it is important to have at least a basic understanding of your client’s industry, understanding your client’s needs and addressing them will put you in a better position to make a sale, and grow your business through referrals. This tactic not only shows good faith as a salesperson but shows that your dedication goes deeper than just the sale.
Why We Sell Merchant Services?
By providing merchant services to a client you are giving your customers access to the most competitive prices possibly eliminating a huge amount of those fees without sacrificing great service. This allows businesses of all sizes a chance to lower their monthly overhead, increase employee benefits, and grow their business with infinite possibilities.
We all know that cold calling is the hardest yet potentially most rewarding way to succeed in our industry. It can be frustrating trying to get in touch with the decision maker – but – it does not have to be. There are resources available to you that will allow you to make your approach much more successful.
When you walk in to a cold door and ask to speak to the owner typically you are going to be told that he/she is not there or that they are not interested. This is what gatekeepers are trained to do: keep you out.
The best way to get around this is to ask for the owner by name. When you do you are showing familiarity with the owner and you have a much better chance of actually speaking to them. So all you need to do is find the owners name before you cold call the business.
Below you will find the 3 best places to locate this information:
1. Your state’s Corporation Database. Google your state and the words “corporate database” (Usually that states Secretary of states office) This is goldmine of information – and it is usually free. All you need to do is search for the business name and you will find the names of the owners, phone numbers, and more.
2. Social Media. Facebook, Twitter, and Yelp are great places to look if you are trying to find out who is in charge. Most of the time you will find the owner replying to posts on their company pages – especially when they have a bad review they will be the person replying trying to rectify the situation.
3. The companies website. Typically they would have an about us or contact us page. It is pretty easy to find what you are looking for right there!
Use these resources to get your foot in the door. If you know you are going to be in a certain area study it the night before. Find out what businesses are there and then find out who owns the place. Walking in and asking for them by name is going to make your job much easier and will help you easily double your sales!
Last Tuesday we looked at the Top 4 lessons from Tommy Boy so this week I decided to do a blog on Apple TV’s Ted Lasso.
If you haven’t watched Ted Lasso on Apple TV, you are really missing out! This show has so much heart, optimism, and belly-laughing humor. It’s winning all the awards and I see great parallels between the show’s lessons and sales lessons on how you can be a better sales pro and coach.
In season one we meet Ted Lasso, a Kansas High School Football coach, starting his new career as Head Coach of an English Football team. He has zero experience with the rules, strategy, and terms used in the game. He should be completely out of his element but he persists with kindness, positivity, and a lightning-fast wit filled with pop culture references and unending optimism.
Every episode gives you “the feels” and some excellent life lessons. This is one of those shows that justifies the amount of time I spend watching TV!
Today let’s talk about the one and only Ted Lasso, and ask him for his best tips to help inspire me, and maybe you too. Let’s act as if Ted Lasso is speaking and coaching us.
Here’s my favorite scene below
Enjoy, David
*Here’s Ted!
Greetings, sales team! It’s a pleasure to be here with you all today. As some of you may know, I’m Ted Lasso, and I’m here to offer some advice on how you can elevate your sales game.
First and foremost, I want to remind you all to be curious, not judgmental.
One of the biggest mistakes we can make as salespeople is assuming we know everything there is to know about our clients or customers. The truth is, we’ll never know everything about them, but we can always strive to learn more. So ask questions, be curious, and don’t be afraid to admit when you don’t know something. This will help you build stronger relationships with your clients and ultimately close more deals.
Another important lesson from my experience as a coach is to start where you are.
Whether you’re a seasoned sales professional or just starting out, it’s important to assess where you are and set realistic goals for yourself. Don’t compare yourself to others or get discouraged by setbacks. Focus on your own progress and take steps every day to improve.
When it comes to feedback, remember to value the opinions of those who matter and forget the rest.
Not everyone’s opinion is worth your time or energy. Seek out feedback from trusted colleagues, mentors, and clients who can help you grow and improve. And don’t forget to take the time to give feedback to others as well. It’s a two-way street.
Now, you may be wondering what it means to be a goldfish.
Well, in my experience, it means having a short memory when it comes to mistakes or setbacks. Learn from them, but don’t dwell on them. Instead, focus on the present moment and the opportunities ahead of you. This mindset can help you stay positive and motivated even in challenging times.
To be your best self, you need to nurture the best version of yourself.
This means taking care of your physical, mental, and emotional health. Make time for exercise, meditation, and self-reflection. Take breaks when you need them, and don’t be afraid to ask for help when you need it. By investing in yourself, you’ll be better equipped to serve your clients and achieve your goals.
In sales, making quality connections is key.
It’s not just about making a sale; it’s about building relationships that will last. Take the time to get to know your clients on a personal level, and show them that you care about their needs and goals. This will help you build trust and loyalty, which are essential for long-term success.
Remember to make others look and feel good.
Celebrate their successes, offer encouragement when they face challenges, and be generous with your praise. By lifting others up, you’ll create a positive environment that inspires everyone to do their best.
Finally, don’t take yourself too seriously.
Be vulnerable, and don’t be afraid to show your human side. We all make mistakes, and sometimes the best way to connect with others is by sharing our struggles and challenges. By being open and authentic, you’ll build deeper connections with your clients and colleagues, and ultimately become a more effective salesperson.
So there you have it, sales team. These are just a few of the lessons I’ve learned from my time as a coach, and I hope they’ll help you as you navigate the world of sales. And remember, if you ever need a little inspiration, there’s no better time to brush up on the lessons from Ted Lasso Seasons 1-3. Good luck, and happy selling!
When it comes to having success, there is no doubt you have to work at it. There is no such thing as get rich quick schemes. There are no shortcuts to success. If you truly want to achieve your dreams, you have to put forth the effort on a consistent basis.
Here is something to ponder today.. have you found yourself working hard but not really accomplishing what you really want to? The truth is, many people are very busy but, unfortunately, they are not very productive. If you have found yourself in this situation, it’s time to start working smarter, not just harder.
So often people are working hard at the wrong things. Working on the right things is more important than working hard.
In my career, I’ve had a few people say that I am a workaholic. I let them know that statement is incorrect. My commitment is to figure out how to use my time in the right way. The key is to use the hours in your day more efficiently. I’ve learned the art of not wasting time on unproductive things.
If you really desire true success, you must learn how to invest your time properly. Unfortunately, most people spend way too much time doing unproductive things.
It’s not enough to be busy. The question is ‘what are you busy at’?
Never confuse activity with productivity. Do not be busy just being busy.
The first step is to reflect on what you actually do in a day. You must take inventory of what your day is like. You will be amazed on how some simple, harmless activities take away your precious time.
Working smarter can improve your productivity and performance. Working smarter means finding ways to use your energy and time at work more efficiently. If you look at the most productive people in business, you will find that they do not waste time. They work smart, and they make every second count. Successful people have a sense of urgency.
Start out working smarter by creating a positive morning routine. Start your morning the same way each day. This could mean anything from a morning walk, exercise, meditation, and quiet time. This will help you set your day off on the right tone.
Have a focused plan for the day. Don’t be all over the map. Each day, focus on your most important, challenging tasks first, tackling them one at a time. Then move on to less important tasks. Prioritize your schedule.
Instead of measuring how much time you put in for the day, start measuring your results. This could help you feel motivated and accomplished. Many people will say that they work 12 hour days, but what did they really do during those 12 hours? In many cases, they could have accomplished the same results in 8 hours just by working smarter.
In the corporate world, it seems that many people have meetings just to have meetings. Meetings are often necessary, but make sure that if you are having one, it is productive. Have an outline for what you want to discuss during a meeting and what your desired outcome is. Keep the meetings brief and productive.
Just as you have made a routine for beginning your day, it’s important to have one to end your day. Make a list of the top three things that you want to do the next day. This will help you to get prepared for the following day. It’s all about having a plan.
We all have the same amount of time during the day. It all comes down to how you spend your time. Success does require hard work but you must combine that hard work with working smarter. Do not be a time waster. Make the decision to be productive instead of busy. Start having that sense of urgency and you will see a huge difference in your daily production.
Sales tactics to lead and those to avoid are seemingly peppered throughout the classic, star-studded, independent black comedy Glengarry Glen Ross from 1992 that I finally got to watch — after quoting clips for years.
“We’re adding a little something to this month’s sales contest. As you all know, first prize is a Cadillac El Dorado.
Anyone wanna see second prize? Second prize is a set of steak knives.
Third prize is you’re fired,” says the character Blake, setting the mood early on.
As you might expect, there are some takeaways to be had.
One thing I didn’t know was the movie was adapted from a 1983 play that won a Pulitzer Prize, shows the desperate, two-day plight of four real estate salesmen specializing in investment properties in retirement developments like Arizona and Florida. They’re getting squeezed by corporate to increase sales, represented by Alec Baldwin’s memorable, single-scene performance below.
Shot in Brooklyn, apparently subtly set in Chicago but including a New York Telephone sticker early on, was a critically-acclaimed box office bust that earned a Best Actor nomination at the Oscar’s for Al Pacino, who was joined by Baldwin, Jack Lemmon, Kevin Spacey, Ed Harris, Alan Arkin and other familiar faces. (Watch below of Pacino’s famed monologue-laced sales pitch)
The film, dubbed ‘Death of the Fuckin’ Salesman’ because of its similar themes to Arthur Miller’s classic play and its coarse language, is an actor’s film destined to be a cult classic: well shot, smartly lit, full of monologues, a simple plot with deeper themes, filled with younger versions of top-flight actors. Yes, you know, all the reasons for it to not succeed financially.
Below are my Top 10 Sales Lessons from the movie Glengarry Glen Ross, from the Home Office in Why Not, Mississippi
Here we go,
10. “A man is his job,”says Shelley Levene, played by Jack Lemmon. Even if you don’t define yourself by your work, the very fact of choosing work that allows you to not be defined by it makes it a part of who you are. What we do, what we spend most of our time doing, surely says a great deal about who we are.
9. “It takes brass balls to sell…” says Blake, played by Alec Baldwin. The effort, confidence and savvy to sell damn near anything is an admirable, enviable and, often, loathsome toolkit.
8. ABC. Always be Closing — Those immortal words from Baldwin’s character are very nearly cartoonish in the movie, but the sentiment is real. Before entering any meeting, know what your ask is, what is considered a success. Because, my friends, as Toby Keith sings, “if you don’t know where you’re going/You might end up somewhere else.”
7. “You’ve never even been on a sit,” says Lemmon’s character, accusing Kevin Spacey’s bookish character of being unaware of the real challenges of sales. Two things on this point: one, there is a clear sense that any entrepreneur, any red-blooded American, really, should have some sales experience; and two, well, gosh, Brian Kirk and I use this phrase ‘going on a sit’ from time to time just because it sounds so god damn cool.”
6. Appearances matter — This, of course, is nothing new, but the movie’s humor comes best when the real estate agent characters are deploying any mechanism of treachery to fool potential clients into believing any number of lies (the properties are moving fast, deadlines are rapidly approaching, their operation is very established, etc.). Picture Jack Lemmon in a phone booth on a rainy night asking his lead on the other end of the call to hold on a minute, as he shouts to a fictional secretary named ‘Grace’ to get his nonexistent plane ticket ready. Lies are, ultimately, bad for business, but the point is clear. In most cases, you are who you present yourself as. You probably do good work and know your industry well, but do you look like you do?
5. Tell a story, get familiar, speak with passion — Lying or not, succeeding or not, even these small-time real estate agents are always doing these three things. (1) They have a story arc for why what they’re selling is the right fit and what now is the right time. (2) They are getting and remembering names and details to develop a connection and making that ‘no’ even a touch harder. (3) They are speaking like what they’re talking about matters.
4. Have a deadline, always have a deadline — In the movie, every character is always leaving, so, yes, we need to make the deal now. It’s all hogwash, of course, and the lyingsn’t necessary, but understanding that without a deadline of some kind, getting the movement you want is always going to be harder is paramount.
3. Make people explain themselves — This fits into a classic of journalism: shut up and let your interview speak. We too often bail each other out or simply misunderstand each other when we impatiently finish people’s sentences or thoughts, when, rather, it’s better to wait someone out. In sales, a sense of directionless from someone else, is an opportunity to create direction for you both. Details are like family, you love them, but they don’t always need to be around. Bring them up when they’re beneficial or focus on the overall meaning or broad vision otherwise.
2. Ownership of the upperhand goes round and round — Throughout the movie, the cast of characters is always attacking someone else, only to find that vitriol coming back hours later. It was a combative, competitive work environment of one-upsmanship. It didn’t seem like any of the characters were aware that he would surely be in a different situation soon. That’s a lesson everyone should remember. Give help, because you’re surely going to need it soon.
And the #1 Sales Lessons from the Classic movie Glengarry Glen Ross is….
1. “You never open your mouth unless you know what the shot is,” says Ricky Roma, played by Al Pacino. Perhaps one of the better, less known quotes of the movie, Pacino’s character scolds Spacey’s for bluffing without knowing the context and screwing up a deal. The big takeaway for me is that — while, clearly, lying is bad business, despite its common usage in the film — going hard on a sell, bluffing or not, is only the right bet when you’ve done your research. Know who, why and how this is the person to sell on this subject. Otherwise, it’s easy to get burned.
There you have it. Any other takeaways from other fans of this film?
In the merchant services industry, it is important to know the ins and outs of how businesses operate, this includes knowing the landscape of the industry and the specific pain points that any business may run into on a day to day basis. Knowing this information will help you formulate a “plan of attack.” This knowledge will help you come across as well informed and prepared when dealing with clients, no matter the industry.
Below are a collection of industries that rely on fast & efficient methods of payment processing as well as some tips and tricks on how you can navigate the different landscapes of each industry to close the deal!
Restaurants
Restaurants rely on high output and a reliable payment processing system. When it comes to the busiest time of the day or year, a fast and efficient POS system will enable a restaurant to operate at a high capacity. Faster payment processing means faster service, allowing more business in their door.
Nightclubs
Nightclubs are similar to restaurants in the sense that their business revolves around high capacity service. The faster that waitstaff can charge a bill, the faster they can serve other patrons. When a nightclub or venue has a slow POS system, you are likely to have frustrated customers and staff alike. In short, a fast point of sales system will ensure there is no slowdown in service.
Retail / Clothing
With real-time data becoming more and more common across all industries, having an intuitive payment system is a must. When it comes to being able to click a button and immediately see what is in stock, or what is on back order, you give employees the ability to better serve a customer. Instead of having to go into the back room to check the stock. Having a POS system linked to your supply will decrease the time spent searching for products and more time selling products.
Online Stores
Online businesses don’t have the same overhead as a traditional brick and mortar establishment, so having an efficient payment system is a major component for this type of business to find growth and success. An intuitive payment method allows an online business to grow, without the worry of increased overhead, or unreliable/spotty service.
New / Small Business
New & Small businesses benefit greatly from a fast and efficient payment system as money may be tight in the beginning. With a new business, it is important to be able to give a business owner the right tools to help grow their business, whether it be building an email list, requesting tips after a sale, or helping establish a loyalty program. With benefits such as an interchange plus pricing, businesses of any size have access to low rates, compare that with a seamless payment system and the possibilities are endless.
By understanding the complications or limitations that a POS system may be putting on businesses, having insight on each industry will allow you to adapt and be able to inform potential clients about the benefits of upgrading to a higher capacity payment process system that suits their specific needs.
By providing merchant services to a client you are giving your customers access to competitive prices, without sacrificing great service. Offering programs like Duo Pricing allows businesses of all sizes a chance to lower their monthly overhead, increase employee benefits, and grow their business with infinite possibilities.
What drives your prospects to make decisions, and when? Are they driven by certain things that happen in their calendar? Or in their industry?
Here are my tried and true best times to call a prospect. Not practicing these six tips? I challenge you to try them and let me know how it went.
1. Now
The best time to call is right now. Too many salespeople will procrastinate. We put it off, but we are just hurting ourselves. Don’t allow different excuses to come up.
2. During a dedicated prospecting time
Create a power hour, a calling block, a dedicated time to prospect every day, or at least several times a week. The most successful people prospecting are those that have a dedicated time. It’s like going to the gym, it has to become a routine. You build those prospecting muscles through repetition and consistency.
3. Friday afternoons
Are there certain days of the week that work better for your industry? Don’t rely on your own opinions. Base your answer on fact. Friday afternoons are one of the best times to prospect. Friday afternoons is when I get more conversations than any other time of the week, because people are more laid back, and more relaxed. Especially Friday afternoons in the summer! What? Yes!!
4. Monday mornings
Of course, there are some industries in which Monday morning is the best time to call, because business owners are in a panic and they need help–boom, you can call and offer a solution. I can think of other industries & verticals his applies to, such as auto repair, tire shops, computer repair, clothing stores, restaurants etc. n which Monday morning they’re already realizing some big needs.
There are so many other verticals that this tip applies to. The only way for you to find out if Monday mornings or Friday afternoons work for your industry is by actually doing it. That doesn’t mean making 5-6 calls and drawing a conclusion. You need at least a few hundred calls made over several weeks on a Monday morning or Friday afternoon before you can make a determination.
5. Early or late
I can think of many organizations and salespeople who have tremendous success calling after 4:30 or 5:00 p.m., or before 8:00 a.m. If you’re dealing with a lot of gatekeepers, early and late can be the best time of the day!
Look at your history records–when were the times that you were able to get through? (Of course, not every call you make will be after 4:30 p.m.) Instead, create some challenges for yourself. Twice a week, try five calls after 5:00 p.m. Next try eight calls before 8:00 a.m.
6. Holidays
What are the best prospecting weeks of the year? Thanksgiving week, and the last two weeks of the year. Why? So many people are on vacation. Normal schedules are disrupted. Meetings that normally happen just don’t occur, and people are in a much more laid back mode. Holidays are a great time because gatekeepers are gone. For these same reasons, the same applies in summer, too. Of course, you’re going to find a lot of people are in fact on vacation. So this is the one time frame I don’t recommend leaving a voicemail.
Your selling process is indicative of the service that you will provide for them when they decide to do business with you. Reaching out to them during the last two weeks of the year shows commitment.
