Good Wednesday morning, and welcome back to another WWYD scenario where we tackle real issues we encounter while selling merchant services!
In this week’s post, our sales pro visits a friend who owns a hardware store.
The Setup & The Favor A long time buddy who owns a local hardware store asks you to take a look at his merchant processing statements over coffee. You put in few hours of real work dissecting 12 months of processing statements, unmasking hidden PCI penalties, and identifying $800 a month in bloated interchange markups.
You hand him a clean, professional proposal showing how your dual pricing or IC+ setup saves him nearly $10,000 a year. He shakes your hand, thanks you, and says he’ll review it over the weekend. What a friend, right?
The Text Message Two days later, your phone buzzes with a text from him:
“Hey man! I showed your statement breakdown to my current processor and they agreed to match your rates to keep my business. Appreciate you saving me almost $10k a year, you’re a lifesaver! Drinks on me next time!”
You just spent four hours doing unpaid forensic accounting, handed his current processor a free retention playbook, and got maybe some free drinks for your effort.
So, What Would You Do?
- Option A: The Graceful Invoice. Send a polite text back congratulating him, but attach a professional $250 invoice for “Payment Processing Audit & Consulting.” You establish that your professional time isn’t free, even for friends.
- Option B: The Long-Game Trap. Wish him well, set a calendar reminder for 90 days out, and wait. You know his current processor will quietly creep those rates back up before the end of the year, giving you the perfect opportunity to pull the switch.
- Option C: The Hard Truth Call. Pick up the phone immediately: “If a company stole $10,000 a year from you until your buddy caught them red handed, why in the world would you trust them with your business tomorrow?”
The Reality Check Mixing business with personal relationships is tough. Friends often view statement analysis as a “quick favor,” completely unaware of the time required to analyze 12 months of statements. (ok, An AI program but still, you see my point)
Cast Your Vote! How do you handle a friend who uses your hard work as leverage against their current rep?
Drop your choice in the comments below: Option A, B, or C?
Happy Selling,
David
