Hi, my name is James Shepherd. Today I want to give you a great tip from a top rep that
I spoke to recently. This is kind of my little mini series. I’m just sharing really good
tips I’ve heard from top reps mostly at a summit I was at recently and a few others
I talked to. One of the best tips that I heard and it was
so true. It was from a sales rep that was talking to me about the importance of getting
two scheduled appointments a day. Every single one of you watching this video, if you are
selling merchant services, you need to make sure that you have at least two appointments
scheduled every single day. What do those two appointments need to be?
The important thing is when they are scheduled. You need to have one appointment scheduled
for 9 or even 8:30 in the morning that is as far away as you plan to go that day. You
say, “How do I schedule appointments for 8 or 8:30?” You can do an auto repair shop.
They are usually in early, so you can schedule an appointment early with them. Sometimes
a pizza shop. A lot of times they get in a little early to start getting all the dough
made and the pizzas and everything ready and there is nobody in there. You need to have
that early morning appointment. Then you need to have another appointment
that is at say 4 o’clock in the afternoon. They both need to be as far away kind of as
you plan to be. That way you have to stay out in the field that entire time.
One of the things that is interesting to me is as I talk to sales people in this industry,
one of the things that is probably like the biggest lie in the industry is that how much
money you make depends on the commission structure that you get. Nothing, nothing, could be further
from the truth. There is almost zero correlation between the compensation structure you negotiate
and how much money you make. You are like, “James, what do you mean?” Let me explain
it to you. You might have, well, this compensation structure is 10% better than this one. Okay,
but this one over here that pays 10% less per sale, they provide you with appointment
scheduled leads, or whatever, mentorship training, and they allow you to make twice as many sales.
Now which one looks better? The commission structure that you negotiate
like is kind of ridiculous. It’s gotten absolutely ridiculous. I talk to reps and
they are like, “I know you recommended this company to me, James, but then I saw this
other company and the schedule A is a full penny less per transaction.” I’m like,
“If your average merchant is doing how many transactions a month, 300, so we are talking
about $3.00. Then you have your 50% split. So $1.50.” What I recommended gives you
appointment scheduled leads and has a structure and has my training and has a CRM. It has
a quote tool, and you are going to make 50% more sales or double the number of sales,
and you get me on the phone and I’ll help you and you want to sell for them because
you are going to make an extra $1.50 a month per merchant. You are insane. Sales doesn’t
work that way. Who cares about the penny? I don’t care about $10. I don’t care about
$20. How many sales are you going to make? Your income is going to be a direct correlation
of the number of sales that you make. Hello. The number of sales that you make is not a
direct correlation of your compensation; it is a direct correlation of two things: your
skill level in the industry, your skills level and your sales ability, and the structure
that you have to get you out in the field and spend the maximum amount of time in front
of merchants. If I have one more call with a rep, that I
find myself spending 10 minutes explaining to them, “Why on earth would you introduce
me to this company over here that all they are going to do is tell me to make a lot more
sales? The commission is if I make this one type of deal, I make a little bit less commission.
I should put that with a different company.” It like, oh my word, no. The way you make
money in this business is by finding a processor that has a good comp plan. I am the first
to say that. I’m all about the good comp. Believe me, I always negotiate good deals.
I make sure I’m with a processor that pay me well, right? You’ve got to have a good
comp plan for sure today. For our instant quote tool, a rep sent us
a compensation schedule that I was going to put into the system and I’m sitting there
just like, “I can’t put this thing in. It just sucks so bad.” I emailed Josh and
said, “I got to talk to this rep before I put this in. This is like ridiculous. Yes,
there are some terrible compensation plans out there for sure, but the thing is there
is also a ton of really good ones. They are fine. It’s not that big of a deal. The key
is going to be how is that re lationship with that processor? How is that relationship with
that manager? How is that relationship with that mentor? How is that going to help you
to have more face time out in the field talking to merchants.
Back to my original tip and we’ll be done. Two appointments a day. The important thing
is this. Have an appointment in the morning. Have one in the afternoon. How do you do that?
Three ways: Number one, get with a processor that does
appointment scheduled leads that aren’t total garbage. Let me know, I can recommend
a few of these. You can go to ccsalespro.com. Click on find a processor. I can recommend
some that do really good appointment scheduled leads. They don’t pay quite as much money
because they got to pay for the appointment scheduled leads. If you don’t think that
costs money, you do it. That’s option number one.
Number two, you hire somebody to set your appointments. Go to upwork.com. Go to outbounders.com.
Get a telemarketer. Explain to them what you need and have them schedule you an appointment
in the morning and in the afternoon. Figure out a way to make that happen.
Number three is you schedule your own appointments. As you go out and do your follow up appointments,
if you are all on your own, you don’t have an appointment scheduler or assistant or anybody,
that’s fine. You reach out and call people. Find that follow up appointment like, “Hey,
I got your proposal done. I have some other meetings tomorrow. Would you mind if I met
you like early tomorrow? What’s the earliest I can meet you?” They are like, “I’ll
be in at 7:30.” You are like, “Perfect, I’ll be there at 7:30 tomorrow morning.”
Early morning appointment, 8:00, 8:30, no later than 9:00.
Then the next person you call you are like, “I got some things going on tomorrow. Is
there anyway I can meet you at 4:00 in the afternoon? Or what is the latest we can meet?”
They are like, “Yes, I’ll be here till 5:00.” “I’ll come in at 4:30 then. That
way we’ll have half an hour.” What you just did is you just gave yourself two bookends
to your day. Now all you have to do is stay out in the field that entire time and just
walk into businesses all day long, and you are going to be amazed at the number of sales
that you get. Hopefully those tips will help you. Again,
if you are looking for a processor, I have a few that I am recommending right now. If
you go to ccsalespro.com and click on find a processor, fill out that form, I’d be
glad to help you and recommend one, but don’t come to me with “Well, is their Schedule
A cost 2 ½ cents or 3 cents because if it is not 2 ½ cents, like I don’t want to
be with somebody that is 3 cents because that is going to cost me an extra 50 cents a deal.”
I’m going to be like, “You are an idiot and I’m going to hang up on you.”
Have a great day! My name is James Shepherd. Thanks for watching and listening.