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Insights and Expertise
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StreetSmarts SM

Best-selling business strategies

Part 4: Value-added solutions

By Allen Kopelman service, hospitality and retail brands. Leasing was once a
Nationwide Payment Systems Inc. money-maker, but we haven't leased equipment in over a
decade.
n business and in life, if you want a partner to stick Future-proof your portfolio
around, you need to keep things fresh and excit-
ing. That's what selling value-adds can do. Selling Successful merchant level salespeople (MLSs) do not sell
I software, point of sale and other business solutions on price or place generic countertop POS terminals. They
can help create long-term partnerships with vendors and sell value, service and solutions and make it harder for
merchants. businesses to switch or want to switch by locking clients
in with multiple services, such as the following:
In a healthy partnership, both parties are free to leave
whenever they want but choose to stay for the value, • ATMs
convenience and security that the relationship provides. • Software and POS solutions
In addition, providing multiple services to merchants • Chargeback management tools
increases customer longevity.
• Payroll services
As I think back on all the different value-added services • Gift card and loyalty solutions
that my business partner, Dave Burney, and I have sold
over the years, (and believe me, it's a long list), I realize All of the above service offerings make it harder for
that not all of them were software-based. PIN pads, for businesses to switch or want to switch.
example, were huge back in the day, before the Dodd-
Frank Wall Street Reform and Consumer Protection Act If you're selling software and POS systems, working
capped debit interchange fees, forever changing the game. with companies that offer solutions and hardware will
give your clients a better experience and ensure that
Check services were another big wave: merchants rallied everyone has skin in the game. While you may earn a
to convert paper checks into guaranteed electronic bit less residual income by partnering with a full-service
transactions with quick payouts, a fast ROI for investing provider, it's less risky than partnering with providers
in a countertop check scanner. that may be processor-agnostic today but going after your
clients tomorrow when they get acquired, which seems to
Gift cards were big in the early 2000s, and today's POS be the trend these days.
systems feature built-in gift and loyalty programs, not
just for their own businesses, but for leading grocery, food

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