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Education
Many of us remember a time when offering unprecedented
customer service was enough to differentiate us from
other merchant service providers. In today's always-on,
always-connected world, consumers and business owners have
come to expect excellent service and fast response times.
"While excellent service and even Have a financial plan
excellent pricing can still land you
good accounts, those accounts in Let's face it: transitioning from a job with benefits and a regular paycheck to
most cases are in jeopardy of attrition starting your own business takes a leap of faith and a dose of sound financial
- mainly technology based attrition," planning. It helps if you have some money set aside.
Niglio wrote.
Maketelinc wrote, "He shouldn't make it his full-time job, unless he has enough
He added that you can "provide the savings to survive until his check is large enough."
best service in the world and have
a wonderful and close relationship In How to Budget Your Own Salary, the staff of Entrepreneur Magazine
with the merchant, but when that recommended calculating what you need and determining what you're worth
merchant purchases a point of sale to figure out how much to pay yourself when you start a new business.
system with integrated processing
through a proprietary service "Once you know the salary you need and the salary you deserve, it's time to
provider, your close relationship will balance that figure against your business's finances. You'll need to check the
earn you an explanation as to why
the merchant switched providers,
along with a statement of gratitude
for all the great service and an
apology for leaving. You have to fight
fire with fire to kick butt in today's
marketplace."
Think retention
Klinckphilip also saw technology
as a powerful retention tool well
worth the additional time and effort
involved in selling it. "Go after bigger
accounts," he added. "Sell POS. Sell
anything that can lock you in. Get
your margin while you can. Sign with
big ETFs [early termination fees] to
deter switching for a few bucks.
"Small accounts are all but gone.
Wireless fees, IRS fees, PCI fees, etc.,
have killed all my small accounts.
But, it was a good thing. Less to deal
with and a similar sales cycle. I'd
rather do all the same work but make
$150/month than $15/month.
"POS is a different animal all together.
You will spend lots of time on those.
But they are locked in. They would
really have to not like you and your
service to switch."
45
Many of us remember a time when offering unprecedented
customer service was enough to differentiate us from
other merchant service providers. In today's always-on,
always-connected world, consumers and business owners have
come to expect excellent service and fast response times.
"While excellent service and even Have a financial plan
excellent pricing can still land you
good accounts, those accounts in Let's face it: transitioning from a job with benefits and a regular paycheck to
most cases are in jeopardy of attrition starting your own business takes a leap of faith and a dose of sound financial
- mainly technology based attrition," planning. It helps if you have some money set aside.
Niglio wrote.
Maketelinc wrote, "He shouldn't make it his full-time job, unless he has enough
He added that you can "provide the savings to survive until his check is large enough."
best service in the world and have
a wonderful and close relationship In How to Budget Your Own Salary, the staff of Entrepreneur Magazine
with the merchant, but when that recommended calculating what you need and determining what you're worth
merchant purchases a point of sale to figure out how much to pay yourself when you start a new business.
system with integrated processing
through a proprietary service "Once you know the salary you need and the salary you deserve, it's time to
provider, your close relationship will balance that figure against your business's finances. You'll need to check the
earn you an explanation as to why
the merchant switched providers,
along with a statement of gratitude
for all the great service and an
apology for leaving. You have to fight
fire with fire to kick butt in today's
marketplace."
Think retention
Klinckphilip also saw technology
as a powerful retention tool well
worth the additional time and effort
involved in selling it. "Go after bigger
accounts," he added. "Sell POS. Sell
anything that can lock you in. Get
your margin while you can. Sign with
big ETFs [early termination fees] to
deter switching for a few bucks.
"Small accounts are all but gone.
Wireless fees, IRS fees, PCI fees, etc.,
have killed all my small accounts.
But, it was a good thing. Less to deal
with and a similar sales cycle. I'd
rather do all the same work but make
$150/month than $15/month.
"POS is a different animal all together.
You will spend lots of time on those.
But they are locked in. They would
really have to not like you and your
service to switch."
45
