The adage, “You don’t know what you don’t know,” may hold more weight than ever before. Business owners today are pulled in multiple directions. They work long hours and struggle to keep up with technology changes, employee shortages, higher costs and much more. Mailing customer invoices and doing payroll with direct deposit is as old-school as renting a movie on VHS.
Oftentimes, owners end up relying on others for referrals and recommendations to purchase and secure products and services for their businesses. This means that receiving the ‘right’ advice from those in the know is crucial. Agents who put the business first–before the sale and their commissions–can make all the difference between getting a good rate without hidden fees or unclear language.
Credit card sales agents and payroll representatives who work for a company may simply sell something to fulfill a monthly quota (and line the pockets of company shareholders). They may sell a product such as a new POS system, terminal or gateway, because that system is the only one they have to offer, not because it’s the right one for the business. Selling simply to sell is not a true partnership.
With larger companies, as well, sales reps often win annual trips when they’re top-sellers. But who ultimately is paying for those trips? You got it, it’s the customer who purchased from them. These are all reasons why knowing the right questions to ask can make all the difference.
Here are 5 TIPS to know what to ask the next time you’re talking to a sales rep who has offered to sell you something:
- Can you show me one of your statements/invoices so I can see if it’s easy to read?
- Is your equipment leased, and how much do you mark it up before selling?
- Will my fees creep up? Will they ever change, and if so, when?
- If you have just one POS or gateway to sell, are you positive that it’s the best one for my business?
- Is your support 24/7 and US-based, and would all of your customers tell me that you answer their calls when they need something?
It’s important to do your due diligence and know about the companies you’re aligning yourself and your business with. What may be even more important, however, is to ‘screen’ that agent/sales rep by asking them the right questions and getting answers that matter. Because ultimately, it’s his/her word that you’ll hear, and that agent is the one who will submit your pricing for a product/service, install and train you on it, fight for you if any issues arrive, and then continue to service your account for as long as that business partnership continues.
So, don’t let what you “don’t know,” hurt your business. And don’t hold back from asking the questions you should, because your company may be the most important piece of your life, outside of health, home and family.
Crystal Cole is the owner of Ledgewater Consulting, LLC. She holds certificates in Business Consulting and Six Sigma, as well as an MBA. She works with small businesses across Maine and New Hampshire, providing payment processing and payroll products and services at a fair price, with excellent customer service. Go to www.ledgewaterconsulting.com to learn more!