Referrals Your existing merchant base is going to be the first resource you should use. Most new sales come from referrals from existing clients. Referrals are more like an endorsement of your value as a service and help create a network to generate more warm leads in the future.  Former Merchants and Lost Leads Just […]

Set the agenda and stay in control Craft an opening statement that says who you are and what you are calling about. Stick to it and master it. Set a clear path from the start where you want the conversation to go. Have empathy and respect a merchant’s time while you’re on the phone. Know […]

After an incredibly difficult 2020, many restaurants are beginning to have hope for the future. As more and more people get inoculated, with President Biden predicting that vaccines will be available to all adults before this summer, the new normal is beginning to come into view. Quick-service restaurant (QSR) chain Noodles & Company, for one, has expanded the following […]

Learn Why Merchants Are Optimistic About The Future

As small businesses struggle to survive the economic havoc caused by Covid-19, new research shows that small business owners are optimistic about the future. Some 75% of small business owners agree that if a crisis like the coronavirus pandemic were to happen again, they’d be better prepared to handle it, according to a survey by the Society for Human Resource Management.

Additionally, 52% of small businesses surveyed expect to recover to pre-Covid profitability in six months or less. This optimism is encouraging to Liz Supinski, SHRM’S director of research products, who says that Covid-19 has been a “big driver of innovation.” Many small businesses, spurred by the limitations imposed by the coronavirus, have invented new products, while one in three of those surveyed say they’ve found new ways to deliver services. “For the whole world of work, this has been a large, uncontrolled experiment in changing what work looks like,” Supinski says. “It’s opened the door to a lot of ideas that have been dismissed because change is hard. And if things are good enough, then why would you change?” According to SHRM, 43% of small business owners have pivoted their business models. One of those entrepreneurs is Denise Woodard, the founder of Partake Foods, an allergy-friendly, gluten-free, vegan cookie company. Since much of her New Jersey-based company’s marketing involved live demos and local events, Woodard has had to come up with new ways of promoting her brand digitally, including partnering with minority- and women-owned brands on a “Spot Us at Target” campaign and teaming up with The Blackbird Collective on Instagram Live and Facebook Live events.

This sort of flexibility is something that Supinski expects to see from businesses of all sizes during this period of business recovery. Three fourths of small businesses are planning to change their policies in response to employees’ childcare needs, with 43% implementing or considering flexible hours or compressed schedules, and 31% offering full-time remote work. “Small businesses are in a unique position because often they’re able to be more flexible with workers than larger businesses. They don’t have the same kind of issues,” Supinski says. However, she adds that small businesses run on small margins, which makes it harder for many to offer this kind of help to employees.
Not only has the coronavirus pandemic spurred innovation, but it’s also led to an uptick in reskilling and upskilling. SHRM found that 22% of small businesses have asked employees to learn new skills to support changes in their business. “There’s certainly a lot of opportunity here for businesses and workers to explore different ways of doing business and having a career and new ways that those two things can come together and change the way the world of work works,” Supinski says. “Opportunity out of adversity.

None of this is to say that small business owners aren’t without worries—53% report feeling somewhat or very concerned about the increased risk of lawsuits and liability while reopening amid Covid-19, as the cost of defending one can be burdensome. Despite these concerns, the way in which small businesses have been able to successfully pivot has made them optimistic about the future, and the support they’ve received from their local communities has only helped. “We’re seeing a lot of people put their money where their mouth is and really work hard to support local businesses during this time,” Supinski says. “You would hope that people would continue to appreciate those local businesses going forward.”
Woodard has witnessed this increase in support from the community around her. The company first saw an uptick in sales in March, when consumers were stockpiling groceries due to the pandemic. One of few Black-owned nationally scaled businesses in the country, Partake Foods, saw another increase in sales in May, following the death of George Floyd. “Our business has really received a large outpouring of support from people wanting to support small-owned business, women-owned business, Black-owned business,” Woodard says. “I’m hopeful for the future of small business in America.”

The advancements in technology, over the last few decades, have completely revolutionized and evolved our shopping experiences. We can now buy anything we want, from any part of the world, without even getting up from the couch in the living room. This shopping revolution is mostly due to the multiple payment options that many stores […]

Amazon contains over 340k book titles containing the word “sales.” Since you’re probably not going to read all these books, we thought it might be helpful to provide the top 5 books from our list. Spin Selling This is the book that famously turned selling from an art into a deep science. While different books […]

To be a successful merchant service sales agent, you must have the necessary tools, knowledge, and understanding of how merchant processing services work. It is essential that you know various subjects such as credit card processing, and point of sale solutions, etc. These are all factors that enable businesses to work through merchant accounts and […]