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The best careers offer you the flexibility to work at your own pace, plus the ability to earn enough money to live the lifestyle you want. If you’re a skillful salesperson with a knack for networking and an interest in helping business owners, a career in merchant services could be a great fit for you. How can you get started? Read on to discover what it takes to succeed in merchant services.
Partner With the Right Service Group
Offering high-quality products and services makes it much easier for you to close a sale, so your first task will be to choose the right payment processing services with which to provide your clients. Just as important is finding a company that compensates you adequately for the value of your work. When you’re looking for the right merchant account agent program, ask questions such as:
- How competitive are the rates you can offer prospective clients?
- What advantages does the equipment you sell provide business owners?
- Are there sales quotas to meet, or can you set your own schedule?
- Will your income be commission-only, or can you earn residuals on previous sales?
The answers to these inquiries, among others, will help guide your decision-making as you decide whose merchant solutions you want to represent.
Decide Which Types of Businesses To Support
Handling customer payments is an essential part of all business workflows, but each business is different. Some of your clients may be older business owners who have been running the same corner store or local restaurant for years and prefer a traditional POS and cash register system. Others may be young, tech-savvy entrepreneurs who need an app-integrated solution like the Clover POS system, which offers numerous configurations to accommodate dynamic business settings, including pop-up shops or food trucks. Tools such as the Clover Flex allow your clients to accept card payments and customer signatures on the spot — no need to ferry credit cards and receipts back and forth.
You should be comfortable pitching every payment processing solution your provider offers, but as you build out your client base and earn more referrals, you’ll likely discover that you work most frequently with a few market segments. Often, this is because you’ll earn word-of-mouth referrals from happy customers who eagerly promote your offerings to their professional networks. Take advantage of the benefits of specialization by spending extra time getting to know your most popular products and refining your pitch for the customers you’re most likely to encounter.
Start by Leveraging Your Own Professional Network
If you’re already in sales, you know the importance of cultivating your professional network and building solid business relationships. Your current network is an excellent place to begin the search for new clients. Reach out to established business owners in need of an upgrade, aspiring entrepreneurs who haven’t launched yet and e-commerce experts who want to venture into the world of brick and mortar. While each client requires a different approach, all of them can benefit from your latest offerings, and your first close will be the beginning of a new referral network.
A career in merchant services can provide you with the income and flexibility you’ve always wanted. There’s a good chance you already know several potential clients who could benefit from these products, so start planning your first pitch now!