Identifying Strong Sales Agents | Aaron Nasseh Finical, Inc. The merchant services industry has been a very lucrative industry for quite some time, and just like any other good industry it has become a very competitive industry. As ISOs, we rely on our sales team to do the heavy lifting of soliciting merchants and generating new business. In turn we offer them an aggressive compensation plan for their efforts. However, the lucrative opportunity that is available in our industry has also attracted many people who unfortunately do not have the proper training and selling skills to become successful. On the Green Sheet forum, member TheCreditCardMan asked “How do you identify which recruits have the best chance for success?”
In my professional sales management career, I have had the opportunity to recruit well over ten thousand Independent sales agents; this includes experienced agents as well as agents new to the industry. During this period, I have learned quite a bit about recruiting and identifying agents that are more likely to thrive in our industry, and how to differentiate them from those who really can’t go beyond signing their aunt and uncle’s local business. Of course, this is not a perfect science, but here is some suggestion to keep in mind when recruiting sales agents. 1) Do Not Rely on the Resume- I wish it were as simple as reviewing their resume and hiring them, but the most useless tool for hiring a salesperson is their resume, however, short of interviewing every single person who applies for the position, which may not always be practical, you have no choice but to start with their resume. If the number of candidates is small enough, then I would suggest interviewing all of the candidates, but when it’s not practical, keep in mind that most resumes are not a very accurate
reflection of the individual. Remember that you’re hiring salespeople, and motivation or purpose doesn’t always translate well onto a resume. 2) Take your interviews seriously- Taking the interview seriously does not mean memorizing a bunch of questions from a book, and asking the candidate ridiculous questions such as “what super hero would you be?” Instead, try to figure out what their motivation is. Find out why they want to be a sales agent, and what they are willing to do to be successful. Don’t just share the good stories and the glory with them, share with them the hard road ahead, and let them know that there will be many ups and downs. Everybody wants to be a millionaire, but very few are willing to do what it takes to be a millionaire. You goal should be to find out if they are hungry enough for success, if they are coachable, and if they are willing to do the necessary work. You want people with realistic goals. Find out if this is someone who can self-regulate, or are they jumping from one gig to another every few months, every time another opportunity sounds a little bit better? People who are constantly switching jobs or employers are generally not the candidate you are looking for, because success takes time, and you are looking for someone who can stay the course. 3) Beware of Merchant Consultants! The two words that are the biggest red flag in recruiting sales agents are “Merchant Consultant.” This is generally a title that an underperforming salesperson elects to use, because it subconsciously helps them to justify their lack of production. If you call yourself a “Salesperson,” then you are expected to perform and sell, but if you’re just a “consultant” then you can technically keep walking out of every business without a sale, and no harm is done to your ego, because you “consulted” with them, it is laughable. In all of my years in this industry, I have yet to meet a “Merchant Consultant” who was also a strong sales person. So, if someone has “Merchant Consultant” on their Resume, I would suggest skipping that Resume, or worse, if in the interview they tell you “I consider myself more of a consultant than a salesperson” thank them for their time and show them the way out.
4) Experience doesn’t guarantee success- I have hired very seasoned sales agents with years of industry experience, who turned out to be complete flops, and I have also hired sales agents who didn’t know the first thing about our industry who became a tremendous success. Industry experience alone does not automatically translate into success in sales. I have learned that when you are hiring independent sales professionals, you typically find three groups of candidates. The first group is those very motivated people who are looking for an opportunity to change their life, and they will fight through obstacles to do the work. The second group is those who are looking for an excuse not to do the work, this is the group that usually says “it’s too competitive.” The third group is the pretenders, who only take on a new position just to make themselves feel like they’re doing something, but in reality, they never will do much of anything, instead they will drain your time and energy. And you guessed it, the Merchant Consultants fall into the third category. 5) Integrity- It is imperative that the sales professionals that will be representing your company conduct themselves very ethically, so you must look for individuals that display a certain level of integrity and professionalism. I recognize that this is easier said than done, but unfortunately, I have found that many ISOs justify an agent’s unethical selling practices as aggressive selling; this could not be farther from the truth. The truth is that a very good sales person does not have to resort to unethical tactics; it’s when they lack the selling skills that they feel the need to resort to lies and misrepresentations, which reflects negatively on you, your organization and the entire industry.
So, to set your company up for sales success, review your hiring strategies employ the best sales professionals the industry has to offer, and provide them with training and the tools they need to prosper. Leave the Merchant Consultants for your competition. Aaron Nasseh is the founder and Chief Executive Officer at Finical Inc. His extensive sales and management experience includes having previously served as the General Manager of CardPayment Solutions and Vice President of Sales at iPayment Inc. If you want to more information read more: Aaron Nasseh