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Education

StreetSmarts SM

Sometimes the best solution is to say goodbye

By Natasa Cvijanovic best interest. If you notice an issue, your merchant most
Tesla Payments likely does, too. However, it is important to communicate
your decision respectfully but firmly. Explain why the
he famous phrase "You're fired!" is a from termination of their merchant agreement and your
the boardroom of the television show The relationship is necessary.
Apprentice. It is not original, but it gets the point
T across. You may not have been in a boardroom, One advantage of being an independent contractor, or
and you may not have conveyed the news with the same MLS, is the ability to write merchants of your choosing.
words, but you've likely been in a situation where you've No boss decides which merchants you go after, and if
had to fire someone. What if that person isn't an appren- you're lucky, you don't have to take every merchant.
tice or employee but one of your merchants? Heed the warning signs

Even the most successful merchant level salespeople How do you determine when it's time to fire a merchant,
(MLSs) occasionally experience the disappointment and how do you do so without damaging your reputation?
of signing a merchant only to find that your working
relationship with them could be better. And at some point, In this article, I'll discuss warning signs indicating when
maybe you realize that the merchant's unreasonable it's time to say goodbye to a merchant, as well as offer some
demands and requests make it not worth your time or advice and ways to end the relationship gracefully. Some
effort to keep working with them. of these signs are more obvious than others. Regardless of
the situation, it is crucial to recognize the warning signs
In cases like this, having an open and professional early and act quickly.
discussion about the need to part ways is in everyone's
• The client continually attempts to get a better
deal: When a merchant relationship begins, it is
One advantage of being an natural for merchants to want to negotiate rates,
independent contractor, or MLS, and there is nothing wrong with negotiation.
However, if an existing merchant repeatedly at-
is the ability to write merchants tempts to renegotiate for lower rates, this should
of your choosing. No boss decides raise red flags.
which merchants you go after, Don't waste your time with clients who don't see
the value you provide. As long as your pricing is
and if you're lucky, you don't reasonable and you provide a high-quality service,
have to take every merchant. you should not worry about losing a few clients
who find your services too expensive. Your mer-
chants will only value you as much as you value
yourself.
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