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Insights and Expertise

hardware, ship product and follow up on equipment When private equity firms invest in POS companies, they
warranties. Today, with two great partners, we're selling look for ways to increase income and payments always
and making money. We're not the least expensive and we come first.
don't expect to win every deal, but we found a way to stay
in the POS game and offer great, affordable products to Can you afford to lose $40,000 or more in monthly residual
merchants. income? I know people who have been crushed by this and
had to sell boats, cars and homes, people who openly cried
We vetted these companies carefully, making sure that in my office after going bankrupt or left our industry to go
they owned their technology stacks and were laser- find a day job. The collective losses we've sustained are in
focused on organic growth through long-term partner the tens of millions of dollars and climbing.
relationships.
A trustworthy POS partner can help you stay in the
I was very happy to clean out two storage areas in our game, and more importantly, win more clients, especially
office and recycle a ton of POS equipment. I was happy if you begin the relationship with clear objectives and
to trade some hardware and software income for fewer established roles. In the end, you may find it worthwhile
phone calls and more time to sell and enjoy life. Some to share income with partners that respect you and your
agents like doing installations, and that's fine. We have merchant relationships.
been there, done that, and wish you all the best.
Want to know more? Keep reading The Green Sheet and
Like a lot of payment professionals, Dave and I learned the follow me on LinkedIn at https://www.linkedin.com/in/
hard way that not all POS companies are alike. Some may allenkopelman.
offer lucrative sign-on bonuses; others may be processor- Allen Kopelman, a serial entrepreneur, is co-founder and CEO of
agnostic today and your most antagonistic competitor Nationwide Payment Systems Inc. and host of B2B Vault: The Payment
tomorrow, when a dealer comes in and takes 80 of your
best accounts in a single swipe. Technology podcast. Email him at allen@npsbank.com nd connect on
LinkedIn https://www.linkedin.com/in/allenkopelman/ and Twitter @
AllenKopelman.
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