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Education

"My name is John Smith and I'm from XYZ Merchant
Services. Are you happy with your current
processor? A yes or no answer is all I'm looking for
so we don't waste each other's time." If the owners
said they were happy, he said, "Great. Here is my
card. Call me when or if things change." If owners
said they were not happy, then he persisted in
selling them.
He boarded approximately five out of every 100 merchants
he approached. Keep in mind that not all of the ones he
boarded were home runs with huge processing volume,
but a deal is a deal. The bottom line is persistence pays off.
He persistently called on 100 merchants four days a week,
and before he knew it, he had quite a few merchants in his
book.

So remember what my old friend and my many dogs had
in common: persistence. If you are tenacious enough –
regardless of your message or how you deliver it – most
merchants will work with you. This is not necessarily be-
cause you are the best salespersons but because you are
persistent.

Steve Norell is director of sales at US Merchant Services Inc. Based in Port
St. Lucie, Fla., he oversees the USMS sales force and maintains the com-
pany's bank and processor relationships. You can reach him by email at
steven@usmsllc.com or by phone at 772-220-7515.

Street Smarts 10 years ago
SM
MLS compensation models
SnapShot of Up Coming Events

SM
In his Street Smarts column published Sept. 8, 2008, author
Jason Felts described the following six MLS compensation
models:
1. Residual income based on buy rates, with 100
percent over
September 24 -26, 2018
2. Revenue share with marked up Schedule A
www.paymentssource.com/conference/
3. Revenue share based on actual ISO cost Hyatt Regency Austin Austin, TX
4. Upfront bonuses paythink-2018/about-the-event

5. Upfront residual acquisition program
6. Employee with salary plus commissions

The article detailing what distinguishes each of these
models can be found in our archives at www.greensheet.
com/emagazine.php?story_id=932&search_string=.
viability of and suggested improvements to the proposals.

October 21-24, 2018
Venetian/Palazzo Las Vegas, NV
us.money2020.com/

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