the card payments industry is often a two-edged sword: potentially a
financially rewarding endeavor, yet often difficult for the sales
professional new to an unfamiliar industry. This program is designed to
assist both new and seasoned veterans attain true financial success by
employing a simple and effective sales process.
AN OVERVIEW OF
THE 6 STEP SUCCESS PLAN
Now that you have a thorough foundation of the payment
processing industry, it’s now time to plan HOW you are going to find
success. And that takes planning - more precisely a business plan. An
overview of one such plan is outlined in this section.
We will split the discussion into two equal sections. Our
iProcess business plan is laid out into six steps. In this chapter we
discuss steps 1 through 3, self-evaluation, industry analysis, and
establish our business identity and personal brand.
We will conclude our discussion of the iProcess 6 Step Success
Plan by creating our written Business Plan Overview (Document), discuss
how we can identify aagood processor to broker our services, and reveal
our first action plan as a component of an implementation strategy.
to prepare, you are preparing to fail.”
If you are planning to make a career change, and by doing so I
mean diving into the world of payment processing, take a moment to
catch your breath and let’s talk about things.
And as this is a one sided conversation, let me begin by
saying - are you crazy?!
Now that I have that out of my system, lets look at things
calmly and rationally.
First, there are many agents who have done very well for
themselves over the years. The industry is flourishing, and new
innovations are making their presence known all the time. Compared to
the industry twenty plus years ago when I came on the scene, there
seems to be so many opportunities the possibilities seem endless.
Yet remember, it is also a highly competitive industry
dominated by large players in the market. There are several companies,
namely First Data, First Data, Elavon and the like which hold key
strategic relationships with large national retailers and banks. There
are a host of smaller processors who have carved a large niche as well,
servicing associations, government agencies, and of course, the vast
market of small and midsize businesses.
Once you look past the large and mid size companies, there are
a host of ISO organizations who resell the processing services of the
larger organizations. As an aside, I have been in presentations where
thirty companies were vying for a processing relationship, and by the
time you identified who the sales people were representing, there may
have actually only been three or four processors represented.
Sometimes it’s like several care dealerships all trying to
sell the exact same make and model of car. Who will win?
As this is a numbers game, that’s easy enough to answer. The
one with the best overall plan to close deals. The business that knows
itself, knows it’s market, has that winning personal brand, who has
developed and follows a winning process, has brokered the best deal
with the manufacturer and has the attitude and drive to sell that ar
more than the other guy…THEY will win the day.
Let me catch my breath. And did you see how I did that? I just
introduced you to the iProcess 6 Step Success Plan for business
Let’s round this chapter out with a brief overview of each
Step 1 - Evaluate
This is the first thing to do, and no doubt ...