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Education
Remember, the key isn't something that is "free" Business-to-business sales
may require specialized POS
nor is it merely just a dated, repackaged offering. systems. For example, auto
Merchants will see right through that. Instead, it supply stores may want to in-
tegrate with inventory man-
must be something that makes you unique, and it agement software. You need
to recognize these needs and
doesn't even have to be a product. either have a source available
or (at a minimum) the ability
to find the source.
supplies for services you use either upon merchant request or when a • Differentiate yourself by hav-
need is identified based on your conversations with a given merchant. ing the proper tools: This is
Ancillary tools may be loyalty programs, check services, POS solution the most commonly missed,
options and equipment choices, as well as the documents supporting yet most important step of
them. the inventory process. In or-
der to be successful you must
While reviewing your ancillary tools, identify any gaps that may exist stand out from your competi-
in your offering. Does your current solution fit the demands of your tion, and doing so commonly
marketplace? Is there still a demand for a specific tool in your toolbox? involves a differentiator. Re-
You may find you don't need a certain tool anymore and can remove it. member, the key isn't some-
thing that is "free" nor is it
• Inventory tools that are specific to your targeted market: Your toolbox merely just a dated, repack-
consists primarily of general tools, but each market has specific needs. aged offering. Merchants
Make sure you have those tools and that they are the most current will see right through that.
offerings to best meet the needs of your target market. Instead, it must be something
that makes you unique, and
it doesn't even have to be a
product.
When in doubt, talk to your
processing partner about this
last step. Keep in mind that
you can't skip this step; it
must be done every time you
perform an inventory.
Remember, having tools is different
from having the right tools. Without
doing a full inventory at least twice
a year, you may find yourself losing
deals because you don't have the right
product, solution or even a current
application. But once you get a system
in place, you will find that deciding
to perform regular inventories was
one of the best steps you have ever
taken to help grow your business.
Jeff Fortney is Vice President, ISO Channel
Management with Clearent LLC. He has more
than 17 years' experience in the payments
industry. Contact him at jeff@clearent.com
or 972-618-7340. To learn about how Clearent
can help you grow faster and go further, visit
www.clearent.com.
34
Remember, the key isn't something that is "free" Business-to-business sales
may require specialized POS
nor is it merely just a dated, repackaged offering. systems. For example, auto
Merchants will see right through that. Instead, it supply stores may want to in-
tegrate with inventory man-
must be something that makes you unique, and it agement software. You need
to recognize these needs and
doesn't even have to be a product. either have a source available
or (at a minimum) the ability
to find the source.
supplies for services you use either upon merchant request or when a • Differentiate yourself by hav-
need is identified based on your conversations with a given merchant. ing the proper tools: This is
Ancillary tools may be loyalty programs, check services, POS solution the most commonly missed,
options and equipment choices, as well as the documents supporting yet most important step of
them. the inventory process. In or-
der to be successful you must
While reviewing your ancillary tools, identify any gaps that may exist stand out from your competi-
in your offering. Does your current solution fit the demands of your tion, and doing so commonly
marketplace? Is there still a demand for a specific tool in your toolbox? involves a differentiator. Re-
You may find you don't need a certain tool anymore and can remove it. member, the key isn't some-
thing that is "free" nor is it
• Inventory tools that are specific to your targeted market: Your toolbox merely just a dated, repack-
consists primarily of general tools, but each market has specific needs. aged offering. Merchants
Make sure you have those tools and that they are the most current will see right through that.
offerings to best meet the needs of your target market. Instead, it must be something
that makes you unique, and
it doesn't even have to be a
product.
When in doubt, talk to your
processing partner about this
last step. Keep in mind that
you can't skip this step; it
must be done every time you
perform an inventory.
Remember, having tools is different
from having the right tools. Without
doing a full inventory at least twice
a year, you may find yourself losing
deals because you don't have the right
product, solution or even a current
application. But once you get a system
in place, you will find that deciding
to perform regular inventories was
one of the best steps you have ever
taken to help grow your business.
Jeff Fortney is Vice President, ISO Channel
Management with Clearent LLC. He has more
than 17 years' experience in the payments
industry. Contact him at jeff@clearent.com
or 972-618-7340. To learn about how Clearent
can help you grow faster and go further, visit
www.clearent.com.
34
