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Education

Place your trust with care Trust cannot be measured in portions.
You either trust or you don't. It's all

By Jeff Fortney or nothing. And it's completely in
your control. Placing your trust in the
TouchSuite LLC wrong person, company or situation
can be damaging both financially
t least once a week I hear a story. It always begins with a statement and professionally. Sometimes, the
such as, "A while back, I partnered with an ISO who promised great professional and financial damage is
revenue, had what I thought was a fair schedule, and a quick way to recovered over time, but the damage
A grow my income. I trusted them. Then I discovered …" to your ability to trust may be
permanent.
At this point, the story varies, but typically involves a complaint such as the
residuals were much lower than promised, a minimum productivity was In our payments world, trust is
required to even get paid, or the partner had increased (or padded) fees critical. When you sign merchants,
elsewhere that inflated the costs to the merchant. Invariably, the reason for they trust that what you say is true
telling me this story was to demonstrate the individual had learned a valuable and that you are not going to damage
(albeit expensive) lesson or to explain why he or she was wary about trusting or injure them. You, in turn, trust that
people to do what they said they would do. what you offer is exactly what you
believe it to be.
Misplaced trust is costly
Trust is essential in payments
It's human nature to want to trust. Trust could be defined as a logical result of
someone's action (earned trust). Or it could be defined as an emotional response If you are building an ISO, you must
given to something heard or seen without full examination (blind trust). trust in your sales force to abide by the
rules. You must trust in your partners
to pay you correctly, to provide the
key information you need to remain
successful, and to not take actions for
their benefit at your expense.

There is no success without trust. What you see isn’t
And when your trust is betrayed, it
is exceedingly difficult to trust again. always what you get.
Until you address the situation,
the damage caused will fester and
become a wall preventing your future
success. Transparency builds better
relationships, and you can’t
The first step is to address the lost
trust head on. Examine what led to expect to grow your business
the failed trust. Did the individual
intentionally mislead you or did with anything less. We believe in
the person not know he or she was
providing inaccurate information? ownership through partnership.
Did you fail to ask the right questions
upfront? Did you not read all of the Created by ISOs. Owned by ISOs. Serving ISOs.
documentation?
Address causes to avoid
repeating errors
Knowing the cause is necessary to
avoid repeating errors. Don't attempt
to place blame though. Once trust is
lost, placing blame will not rebuild
it. The goal is to determine what you
should have done differently before
you misplaced your trust and what
actions to avoid going forward.

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