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Education

6. Learn. The Payments world is ever changing. You must stay abreast
of recent changes and new technology. And don't forget to leverage your
Although focusing on trusted adviser.
the individual steps 7. Self-Reflection. Truly successful entrepreneurs know they must set
is critical, a successful aside down time to examine what has happened and make plans for next
entrepreneur never steps. Always working, always selling only leads to burnout.
loses sight of the 8. Self-reliance. It is always great to have a trusted adviser who walks
bigger picture as with you and gives you advise and guidance, but ultimately, it's the ISOs
well – the long-term and MLSs who definee their own success. The successful entrepreneur
knows they ultimately must depend on themselves.
goal.
Although these present a strong entrepreneurial foundation, I believe one factor
is missing. A successful entrepreneur doesn't always succeed. Entrepreneurs
can and do fail at times. Thomas Edison was not just a successful inventor;
ed, and it is all to easy to be he was also a true entrepreneur. It is said he was asked how it felt to fail over
distracted in today's world. 10,000 times when trying to invent the light bulb. He responded, "I didn't fail
3. Invest for the long term. all those times, I just found 10,000 ways that won't work."
Although focusing on the in-
dividual steps is critical, a Although this speaks to persistence and resiliency, it also speaks to the fact
successful entrepreneur never that failure can be common for entrepreneurs. I met a self-described serial
loses sight of the bigger picture entrepreneur who freely talks about the ventures he started that failed. But he
as well – the long-term goal. refused to call them failures, believing every one was a lesson learned on what
To ensure that they remain on wouldn't work. His biggest lesson? Never fear failure.
the right track, they set aside
time to measure their efforts, Whether you're an employee, a supervisor, or an ISO owner or MLS, having a
and determine any changes true entrepreneurial attitude and approach is your best course for success.
required to achieve that goal.
Most do this a minimum of Jeff Fortney is senior vice president of business development and partnerships for TouchSuite LLC,
quarterly. a fintech company providing POS systems, payment processing, SEO solutions, working capital
and marketing services to small and midsize businesses. A long-time payments industry profes-
4. Find and manage people sional and mentor, Jeff focuses on strengthening and developing corporate partnerships and eval-
and partners. Managing peo- uating new business to drive strategic growth. He can be reached at jfortney@touchsuite.com.
ple doesn't mean being the
boss. It means you are respon-
sible for the expectations you
have for employees and, yes,
partners. It implies controlling
what you can control, choosing
partners that fit your needs,
then insuring that they remain
partners and don't become
vendors. Manage their expec-
tations and your own. Act like
a partner, and expect them to
treat you like a partner, as well.

5. Sell. To me this should be
understood. Whether you
have salespeople or are the
salesperson, you must always
be selling. You must sell not
just your merchant services,
but also your vision to your
partners and employees.

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