Page 30 - GS220301

Education

StreetSmarts SM

SHARING WISDOM
SHARING WISDOM

WITH JEFF FORTNEY WITH JEFF FORTNEY

The many benefits of transparency

By Jeff Fortney An unfortunate scenario
The Strawhecker Group If you've been in merchant services for a while, you've
inevitably encountered more than one merchant whose
y wife likes to say that I lack "the filter." She needs can't be fully met by the solutions you offer. Per-
defines it as the spot between your brain haps you can meet all but one need and think you can do
and your mouth that acts as a delay, letting a workaround to satisfy it. Rather than be transparent and
M you consider what you want to say before explain what your workaround plan is, you simply say it
you say it. Don't tell her I said this, but I realized she was looks like you and the merchant are a great match, and
right long ago. the merchant signs the agreement.

As a child, sometimes I said things that got me in trou- Unfortunately, the solution addresses most of the mer-
ble. When I was six years old a friend of my mom's told chant's needs, but the one not addressed turns out to be
her, "Your hair looks great." A normal youngster probably the most important issue the merchant needed to handle.
wouldn't comment on a remark like that, but me? I said, This is something you would have found out had you cho-
"It should. I had to sit for four hours at the beauty place." sen to be transparent during the sales process. Instead,
The look my mom gave me could have frozen the Sahara. you and the merchant now go back and forth for a month,
trying to get the workaround to function the way the mer-
I've never wanted to say hurtful things. But at times I've chant needs. Ultimately, you are unable to meet this most
let my guard down when I've found something humor- important need. This is the deal breaker. The merchant
ous and maybe said things I shouldn't have. Then my wife is upset. Nothing you can do or say will keep them from
would either give me the look or repeat the filter comment canceling.
to remind me. I still need reminding occasionally.
You'll never know how many potential referrals could
I recently shared this story with an agent when we were have come from the merchant. Maybe none. Maybe two,
talking about my strong belief in transparency and the three or more. And these referrals could have remained in
need to tell merchants the good, bad and ugly. He asked play if you'd been transparent about that one issue when it
me if this transparency would mean telling a merchant first arose instead of dancing around it. And, remember,
they were missing a button on their shirt. Although I when merchants feel wronged they tell others.
imagined my lack of a filter could lead me to do that, I ad-
vised the agent that calling attention to a missing button A pathway to partnerships
wasn't the kind of thing I mean by transparency.
Being transparent wouldn't have required you to say
When I discuss the importance of transparency, I often definitively that you couldn't support the solution they
hear, "But doesn't it result in a lost sale you could have needed. It would have required you to admit that you had
signed?" When I hear that, I don't believe the questioner what you thought would work, but you couldn't guaran-
wants to deceive merchants. It's just that there's a prevail- tee that it would. And it would have required you to ask
ing belief that transparency can cost you sales. the merchant to explain the need again so you could fully
30