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.
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.
STEPS 1 THROUGH
3 - EVALUATE, ANALYZE, IDENTITY
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.”
Step 1 Evaluation Phase
Before becoming a sales agent, and perhaps becoming self
employed for the first time in your life, you should spend some time
conducting what is known as a ‘personal inventory’. Do you have the
proper motivation, or are you merely seeking a change from your current
career. Perhaps you dislike your boss, or hate your job.
These are motivational indeed, but are they enough to see you
become successful in payment processing?
Begin by taking stock of yourself and your situation:
- Ask yourself why do you want to start a business?
- What do you see yourself doing?
- Which industries do you have a history or proficiencies?
- Would you want to provide - products, services or both?
- What skills do you possess?
- How much money do you have to see you through the start-up
- Will it be a full-time or a part-time venture?
Your honest answers to these questions will help identify the
reasons behind your career change and will in essence help
identify your motivations ad resources at an early stage BEFORE
you have gone down a road you should not have traveled.
Conversely, these questions should reinforce and invigorate
your commitment to making the change IF it is a good move.
Many people attempt to make a go of payment processing sales.
Some succeed, yet many do not. In order to begin a successful business,
passion and a desire to earn a large income just isn’t enough.
The wise move is to establish a business plan, set realistic
and achievable goals and be self aware of your motivations and
commitment. Here is a rhetorical question…what are your
weaknesses and strengths?
As a person working who in essence owns a business, will you
be able to manage your activities without someone else calling the
shots? Just how will the baggage that comes with being
affect day-to-day operations?
Many people who come into the world of payment processing have
strong sales backgrounds, while some do not. Selling can be taught, but
what cannot be taught are the individual mannerisms, experiences, and
attitudes that make us unique. Yet it is true that making a career
change is at least less daunting if you like the industry and
it is one you know well.
iProcess employs a unique system which we will discuss at
length later in this chapter and again in subsequent sections
of Pathfinder that uses your past work history to help direct you into
specific markets of interest where you DO have valuable
As you get started, your business will likely dominate your
life so make sure that what you’re doing is at least
stimulating and not dull. Hopefully, you’re going to be in it for the
Some good questions to ask yourself include:
- What would you do if money wasn’t a major motivator?
- Is money really important? Or rather, is making a lot of it
really important? If it is, you’re probably going to be cutting out a
number of options.
- What things really matter to you?
- When changing careers it is important to have the support
of those closest to you, especially your immediate family. Who will be
your advocate? They may have to make sacrifices at the beginning, so
it’s important to have them behind you.
- Who do you admire in business? Perhaps in the industry
you’d like to go into? Why do you admire them? What are their likable
traits? What can you learn from them?
Such questions, when answered honestly and with due
deliberation (while asking many more about yourself and your abilities)
isn’t necessarily going to ensure you’re successful.
They will serve a vital role and get you thinking about your
goals. They will help identify what motivates and inspires you.
Although there are many tools available on the Internet,
getting started is as easy as folding a sheet of paper in half and
writing down a few questions as we have outlined. Keep the answers
somewhere close, so you can be reminded on them over the next
several days and even weeks.
The following is an example of a simple document you can pen
to help you get started:
am I making a career change to payment processing?
researched it and am excited about an offer I received.
skills make me a good candidate to succeed?
worked straight commission and
like it. Experienced salesperson.
have the necessary money reserves to grow without fear of
good income, little debt and money in the
work history do I have that can help?
cars 6 years,
sales manager for 5 years. Commercial banker 4 years.
have contacts I can reach out to offer services?
Many business customers.
my family willing to support this decision?
excites me about payment processing?
to business sales.
there someone I trust to discuss being a a self employed
old boss made
the switch to selling payment processing and loves
Prior to making a decision to change careers....