Day 7 recap, |
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Hi team, great session today. Guest mentor Mac McRoberts (13 years at PCBancard, 20 in the industry) kicked things off, then we covered the full proposal-to-close workflow and walked the FillFaster application start to finish. Recording and notes are below, and there is a short homework item for tonight. |
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Part 1: Guest mentor, Mac McRoberts |
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Mac was top rep for seven years at Canon Business Solutions and made the same salary every one of them. He came to merchant services for the residuals model and never went back. Thirteen years in, his book lets him take all of January in Hawaii, and he still texts Jason his door count every night. |
Key takeaways |
- Start with your Circle of Influence. Mac's first deal was his dog groomer. Do not wait until you feel like a pro.
- Keep your territory small. The #1 new rep mistake is hitting 1,000 locations once. Pick a small area with solid industries and go back 4 to 5 times.
- Work a full day. Two reps, same skills: one works 8 hours, one works 2. Time in front of merchants is everything.
- 91% of B2B salespeople quit after 2 visits, where you have a 17% close chance. The money is in visits 4 and 5.
- Think pipeline, not closes. Your mentor asks how your pipeline looks, not whether you closed.
- Power of 2: growing residuals $1,000 a month is $12,000 a year in base-equivalent income. Add $1K a month consistently and year one gets comfortable. Reverse engineer your goals by completing the Projections Spreadsheet.
- 1099 perks: gas, car, meals, tablets, networking groups. Mac's group costs $3K a year. Write-off.
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Part 2: Sell growth, not savings |
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The most important question in your discovery appointment: "What are two things you'd like to do to grow your business, and what's stopped you from doing them?" |
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Owners have heard "I can save you money" a thousand times. Growth hits differently. Get them envisioning the better version: new equipment, more marketing, a second location. Then show them dual pricing savings are what funds it. Merchants who switch to dual pricing see an average 11% increase in processing volume, because they reinvest what they stop paying. |
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Part 3: Presenting the proposal and closing |
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Keep it simple. Walk the statement, call out where they are being overcharged, present three options, and assume the sale. Using Larry's bar as the example: |
- Good, traditional: lower to 18 bps plus 8¢ per transaction, junk fees gone, about $2,500 a year saved.
- Better, surcharge: 3% on credits paid by the customer, debit at 1.5% paid by the merchant, about $12,000 a year saved.
- Best, dual pricing: $64.95 a month flat, 3.99% cash versus card, about $27,000 a year saved.
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After they pick, ask what they would do with $30K back in their pocket to grow the business, then start the application immediately. 86% of salespeople never ask for the sale. If they want to stop you, they will stop you. None of the three options is "no." |
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Part 4: The FillFaster application |
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Where to find it: Partner Training Portal, then Applications, then FillFaster Links for E-Signature. Use the Dual Pricing MPA for dual-pricing deals and the Traditional/Surcharging MPA for those pricing structures. |
A complete submission |
- Completed FillFaster application.
- Driver's license, a photo is fine.
- Voided check.
- Three months of processing statements, which qualifies the merchant for next-day funding.
- Photo of the business license, which prevents tax ID and legal name mismatch delays.
Practice the Dual Pricing MPA for homework. Upload images in the place of a DL or Voided Check. Put the word TEST next to your name at the top. Example of a Completed Merchant Application for your reference ~ note this application is for Traditional Processing and the Free Terminal Program.
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| Practice Dual Pricing Merchant Application here |
Details that trip people up |
- Federal Tax ID is always 9 digits. Ten digits is a state ID. Sole proprietors usually use their SSN.
- Get both the business and the personal email address. They are usually different.
- Free equipment form is here ~ review terminals eligible for free placement. Remember the merchant will either buy equipment or choose the free equipment program, pick one. Do not fill out both sections.)
- SIM card only for cellular data. Wi-Fi or Ethernet means no SIM.
- Multiple owners? Put the primary operator as 100% owner and avoid two signatures on everything later.
- Always ship to the merchant's address, then go help set it up.
- Upload fields are required. Use a placeholder to get through it, then email the real documents to office@pcbancard.com.
- Enter your own email at the confirmation screen or you will not get a copy.
- PCI compliance: we handle it for them every year. Merchants hate that survey, and this alone closes deals.
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Links and contacts |
- Partner Training Portal: applications, CE courses, agent portal, equipment price sheet.
- FillFaster application: Partner Training Portal, Applications, FillFaster Links for E-Signature.
- IT team, Kenny or Erik: equipment help, terminal setup, any tech question: itdept@pcbancard.com
- PCBancard office, Kristen or Cori: underwriting questions, SSN collection, deal status office@pcbancard.com.
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