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Tips for ISO entrepreneurs

October 13, 2011

If one decides to become involved in the independent service organization business, it requires a significant amount of planning and strategy.

If one decides to become involved in the independent service organization business, it requires a significant amount of planning and strategy.

During a recent speech at the Western States Acquirers Association’s annual conference, consultant Mark Dunn said that merchant services entrepreneurs would need between $100,000 and $250,000 to begin but could start for just $75,000 in some cases. He also stated that business leaders do research on which companies would be best to partner with when starting out.

“Sales agents who decide to take on the challenge of becoming an ISO might consider specializing in services for a particular type or types of merchants, Dunn suggested,” Smaller ISOs can find their niche and compete with larger ISOs by concentrating on a geographic area; sharpening their skills in a particular type of selling,

Other industry experts have been giving advice to those in the sector. In an interview with the news source, Greg Leos, vice president of payment-partner programs at Trustwave said that managers should implement policies that workers are comfortable with.

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