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Education
though few survive, and new virtual terminal gateways the MLS Forum's "Street Smarts" The Second Discussion
are created mostly in-house by major ISOs/MSPs, (POS Systems) thread to see comments from him and oth-
eliminating the need for third-party virtual terminal ers that we don't have room to print here.
gateways. "But we will still survive," he said. "I still sell
and win, and continue to build a successful portfolio In response to Steve Norell, DatacapSys wrote,
despite all this. Find your niche and you'll thrive. "Managing conflicts of interests with your business
partners/relationships is one of the most critical keys to
"Diversify and broaden your product offering, and most success. … The point is that sometimes you just have to
importantly keep educating yourself about the changes in make choices that make sense for you and follow that
the industry and its trends. Change is inevitable. Adapt path. … The companies that figure out how to cooperate
and keep moving forward. Change makes the world go with each other, stay in their own lanes and maintain
round." reasonable margins on both sides of the fence are going
to be winners going forward. It's all about managing
Relationships need work conflicts of interest between the business partners."
Talking about partnerships between ISOs/MSPs and POS In the next edition of Street SmartsSM, I will touch on
system manufacturers, Steve Norell wrote that most marketing strategies, common market challenges and
independent software vendors "are naïve" when it comes strategic planning tips to help you hit the ground
to bankcard processing because they don't take the time running as you rebrand into this complex technology
to approach an ISO/MSP or an MLS to form a relationship sales marketplace.
with fair, transparent pricing and boarding. "No matter
how many times I have tried to point this out, they just John Tucker is Managing Member of 1st Capital Loans LLC, as well as an
can't seem to get the message," he noted. "So this is where M.B.A. graduate and holder of three bachelor's degrees in accounting,
we all are, and the end is nowhere in sight." business management and journalism. Tucker also has over nine years
of professional experience in commercial finance and business develop-
Steve Norell had more to say about the pitfalls and prom- ment. You can contact him by email at tucker@1stcapitalloans.com or
ises of selling POS systems. View the full conversation in by telephone at 586-480-2140.
888-334-2284
