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Education

become an MLS. My initial interview lasted about five I saying they want to sell their residuals and asking how
minutes. I asked one question: Do we get residuals? much you'll pay for them, or grumbling about pricing.
The answer was no. Square and PayPal have eliminated the pain that comes
with an outside sales force.
During the Great Recession, this industry saw an
influx of former real estate and mortgage people who, If you think this won't happen to you, think again. The
overnight, were out of jobs. For the most part, they very ISO or processor you're writing for is moving in
couldn't adapt and hurt our industry. the same direction. Our industry is becoming more
automated. People can buy software products that include
I've wondered why people entering real estate or merchant accounts, and all they have to do is click to
insurance seem to have higher success rates than become a merchant.
ours. I think this is our industry's barrier to entry is
not just low but nonexistent. At least with real estate Doom and gloom, right? Sure, only if you don't adapt. If
or insurance, you must take a test and pay a fee to play I were to start over again today, I'd build an inside sales
in their yard. With us, it takes no money, no education force paid to sign merchants over the phone or online.
and no training. In some cases, you can have a criminal I'd create a great workplace atmosphere, and remember
backround. It requires no money upfront or money to turnover will always occur, but it won't cost or hurt as
stay in the industry. I believe if Mastercard and Visa much. Will what I predict come to pass, or will the MLS
took a more aggressive approach to this issue, we model with feet on the street always exist? Time will tell,
would all be better off. but I'm betting I'm right.
4. Training challenges
Steve Norell is director of sales at US Merchant Services Inc. Based in Port
To succeed, MLSs need great ongoing training. When St. Lucie, Fla., he oversees the USMS sales force and maintains the com-
they begin building sales teams, most people think pany's bank and processor relationships. You can reach him by email at
they will do training themselves, believing they steven@usmsllc.com or by phone at 772-220-7515.
are great trainers and know everything there is to
know to make it work. This is a mistake. Training
is extremely time-consuming, and trainers have to SnapShot of Up Coming Events
be continuously studying and honing their training
skills. Ours is a dynamic industry and trainers must
always be evolving.
5. Sales management

I have yet to meet or know a sales manager that
actually manages sales. Most of the time, they are
problem solvers and/or baby sitters. Also, our industry
doesn't favor micro-managing MLSs. We are a firecely April 8-10, 2019
independent group and would rather start our own Hilton Washington DC National Mall
ISO, working as hard as we like, rather than have Washington, D.C.
someone asking us daily how many calls we made. https://www.americanbanker.com/conference
/power-of-prepaid-2019
So my conclusions are that finding and hiring a decent
person is next to impossible, the training is tedious and
long, the turnover is huge, and many times you find you
are doing all the work and paying someone else for your
own efforts.

The heyday of the on-the-street MLS is fading. Before
you say hogwash, let me point out that this is the case in
many other industries, not just ours. Kiosks are replacing
counter staff in all types of retail businesses. Sales forces
are being replaced by online data entry.
April 30 - May 2, 2019
Look at Square and PayPal. Neither has a sales force, Mandalay Bay
and they are signing up merchants at a mind-boggling Las Vegas, NV
pace. They don't have to take call after call from MLSs https://www.electran.org/events/etatransact/
complaining about something stupid for the 10th time or

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