Clark Pierson - March 2020



Exposing Fraudulent Financial Scams That Plague the Dental Industry

To Change How We Sell How I Became Passionate About Merchant Processing

insurance. The next day, Saturday, I retired. And on Sunday, I flew to Montana and got pretty deep into fly fishing. My family moved there shortly after. For a while, retirement was a blast. But, surprisingly, I couldn’t just fly fish my entire life either. I got bored, and I still needed to find the second phase of my life. Don’t get me wrong: To this day, I still love fly fishing. Maybe it’s because I’m such a passionately athletic and competitive person that I couldn’t retire yet. So, I bought a nutrition company and moved to South Korea. That’s a long story we can unpack in another article, but essentially, I loved my time there. I met my current wife and enjoyed a vibrant culture in a beautiful country. Although my business there suffered, I don’t regret anything about that venture one bit. Finally, that brings me back to 2005. I missed my family and the states, so it was time to fly back home. One of the investors of my nutrition company told me I should get into merchant processing. It turns out that it’s such a crazy lucrative business that nobody can survive long enough to make it. As an agent, the industry is designed to make you fail; the typical tenure of agents is 14 days. The first merchant processing company I joined had a recruiting team that’d hire 500 people a week .

Obviously, this stirred the kind of competitive spirit I live for.

So when I first became an agent, I went to Barnes & Noble to figure out what I could read and learn. I wanted to know, “How do I make it?” Yet, it turned out there weren’t any books about merchant processing — at all. Not for agents. Not for anybody. Since then, I’ve written four books for agents and others about the merchant processing industry. I’ve exposed systemic corruption, and I have over 15 years of experience in this field with a 99% retention rate. It sounds crazy, but that’s because I try to legitimize a little- to-no regulation industry, and my clients know that right away. If you’re a dentist who feels lost or unsure about whether you’re getting scammed, I can tell you exactly where you’re overpaying and why. Open this newsletter for some tips from an upcoming book of mine, and contact me at 801-787-6462 if you want to learn more about the consulting and services I provide for professionals like yourself. To change how much you make, sometimes you have to change how you sell.

Imagine you’re in Barnes & Noble in 2005. You’re walking aisles and finding hundreds of books on real estate, business, and practically any other field you’re interested in. But there are no books on merchant processing. Not a single one. I know because when I was starting this career 15 years ago, I didn’t find any. How could a multibillion-dollar industry have so little information available? It was mind-boggling to me. I had a whole well-defined insurance career before I came into merchant processing, and even that career almost never happened. During my first job in insurance, I was a door-to-door salesman. It took an entire nine weeks for me to make my first sale. And my first sale made me $9.60 — and I remember it vividly because of how much it inspired me. I think that’s part of the drive for many entrepreneurs; the small victories teach you how important persistence is. Soon after that, I made a sale that earned me $1,000. And I kept climbing. At one point in the 1990s, I worked as the nation’s youngest VP at an insurance company that happened to be in the top 400 companies in the country at the time. But I already knew I didn’t want to do insurance forever, and by my 40s, I made enough money to retire from the industry. The decision was a longtime gut feeling that came together all at once. I watched the movie “A River Runs Through It” on a Friday night, and that movie finally inspired and pushed me to move on from

Until next month, friends,

- Clark Pierson


3 Ways to Pick Your Ideal Merchant Processing Service

Swiping Smarter

When we look for new cars, we have a lot of resources to utilize before making our choice as a consumer. But

differentiating price model systems. As an insider, I’ll tell you this: Out of all of them, the interchange-plus-pricing model is the only transparent pricing type that exists. It means whatever the cost of a particular card, a small basis-point markup is added and the profit is known to everyone. Then, consider if their markup is reasonable. It’s best to aim for 10–30 basis points above interchange and 10 cents per transaction. Make Sure Your Agent Performs Regular Audits Ideally, you should get an audit quarterly — if not, at least semi-annually — to track activity in your account. Not a lot of companies do this, but a good agent should notify you of any rate increases or anything else happening to your account. My company does this regularly for all our dental practices, and it sets us apart from the masses thus far. Even if your current rates seem low, some agents can give you nearly 150 unnecessary junk fees which spike up the cost for you and your business. My service, DentalPay, is committed to zero junk fees. There’s not even a startup fee! You can learn more about my service on our website,

when shopping for a merchant processing service, it’s more complicated and with far, far less information available. So, what do you do? Find a Trustworthy Agent It’s very rare that agents are qualified or certified in some way. Why? Most agents don’t stay in the industry long enough to be experts. A vast majority of agents have a tenure of 14 days or less. Often, their companies push them out to gain 100% of their residual. So, not only do you want an agent whose credibility you can verify (like a referral from a friend or another trustworthy person), but you want an agent who has been in the industry for a minimum of 24–36 months. Five years would be even better. Demand ‘Low-Cost Interchange Plus Pricing’ Agents will throw a lot of jargon at you to make you feel dumb. Don’t let that trick you from having them fully explain their

Give Love, Get Love

Turn Amazing Customer Service Into a Major Revenue Source

Boosting customer retention by any amount can have a huge impact on your revenue. A study conducted by Bain & Company and reported by the Harvard Business Review found that even a 5% increase in retention can boost revenue by 25%–95%. In short, your ability to retain the right customers can make or break your business. Businesses are constantly searching for ways to achieve customer loyalty. After all, it’s far more cost-effective to keep the same customers coming back to you than it is to constantly go after new ones. Marketing to new customers can cost up to 25 times more than simply catering to your existing customer base. Loyal customers who love your business are an incredibly powerful asset. They can do a lot of your marketing for you through social media and other word-of-mouth channels, convincing others that your business exists and has value. But how do you get to that point? How do you develop a strong bond with your customers that is hard to break and will keep them coming back time and time again?

It really starts with stellar customer service. Poor customer service is the No. 1 cause of customer loss. Upward of 71% of people say they cut ties with businesses over poor customer service. Customer service includes your employee-customer interactions, your response to problems, your response time , and your approachability on social media. Look to businesses that have figured out how to do customer service right, like Apple, LEGO, and other beloved businesses in your community. Consider what you can incorporate into your own customer service experience or become a customer yourself and see just how far other businesses are willing to go for you. Another way you can win loyal customers is just by being present. One way to do that is by answering phone calls, emails, and online inquiries immediately . The more time you put between the initial customer contact and your response, the worse it looks for you. When people visit your business in person, be there to offer a hello, answer questions, and engage in casual conversation. When you’re there for your customers, your customers want to be there for you.


Introducing My All In AAU Team ‘Kids Need Role Models, Not Critics’ If you know me, then it’s quite possible you know how much I love sports. It makes me so incredibly proud that my oldest son is part of the All In AAU league, a Jr. NBA-certified league that frequently gets scouted by high school and even college coaches. Now, many NBA legends such as the late Kobe Bryant have spoken out against AAU leagues. Bryant explained with candid honesty: “It doesn’t teach our kids to play the game at all. So you wind up with players that … do all this fancy crap, and they don’t know how to post up. It’s stupid.” Michael Jordan started his own AAU group for his 13-year-old daughter to play in because he didn’t trust other groups to get it right. Jordan and Bryant aren’t wrong. YouTube has proven how many AAU coaches scream viciously at their kids. Winning and sponsorships are all that matter to them — and the kids don’t benefit. I know because my son is a very talented point guard, and his team played hard in all their games. Yet, it was a demoralizing experience. They would lose and lack real guidance on how to improve. Or they would win and still lack improvement and real satisfaction with that win. How do you improve your sport? In many ways, it’s the same question as this one: How do you become an athlete? First, I bought the entire team access to a Lifetime gym. I knew how passionate these kids are, and it was breaking my heart that they couldn’t access equipment that would help them succeed. Plus, if they wanted to become professional athletes, hitting the gym would be a regular necessity. Next, I hired a coach who’s a Lifetime fitness trainer and who’s not only incredibly kind but also gentle with our kids. Then, I hired people to create a website and manage a full-time Instagram page for the team. Ever since, I don’t need to recruit for kids; they come to us. My son has always been incredibly passionate and self-driven about basketball, but now he has more tools to help himself grow better and stronger. He wakes up at 6:30 a.m. every day to get to the gym before school. I couldn’t be prouder of him and the whole team. Check out our Instagram at @all.inbasketballclub!


I Protect Dental Practices From Financially

Devastating Scams That NOBODY Else Is Warning Them About ...

If You’re a Dental Practice Owner, Chances Are You WILL Be Targeted Soon. Go to: Before It’s Too Late!

- Clark Pierson



8780 Auburn Folsom Rd. Granite Bay, CA 95746



Inside this issue

1 2

Clark Pierson’s Origin Story

Picking Your Ideal Merchant Processing Service Get More Love Back From Your Customers (When You Love Them First)

3 4

Introducing Clark’s AAU Team

Adventure Awaits (At Home)

No Place Like Home

Do you dream of adventure? Do you want to see something new, discover someplace interesting, and make memories you’ll cherish forever? Do you still have to be at work on Monday? Finding adventure doesn’t have to mean packing up and trekking across the globe for six months. Being adventurous is all about changing your mindset and looking for the unexpected in the familiar. As you start planning summer vacations, instead of spending a lot of money to be a tourist somewhere else, why not try finding a little adventure at home? Get a Room If you really want to experience your hometown through the eyes of a tourist, try waking up somewhere new. One night in a hotel room or bed-and-breakfast can really put you in the adventuring mindset. Find Local Events Now’s the time to check out the farmers market you’ve been meaning to go to for ages! Then you can swing by that free concert in the park before going to a play at your community theater. Attending local events is a great way to visit places in town you’ve never been before. You might even find a

historical tour that can teach you all about the wonders of your town. Download an app like Eventbrite, or go old-school and check for fun local events in the paper. Appreciate the Arts There are countless tiny museums and cultural attractions all over the place that most people overlook — especially those who have lived in an area for a while. Does your hometown have interesting art installations on Main Street? What about museums dedicated to strange and supernatural phenomena, parks, historical landmarks, or giant robotic farm animals? Check for lists of popular attractions near you, or ask your friends for suggestions. You might be surprised by what your hometown has to offer. You might be thinking, “This is would be great if I lived somewhere fun!” If you’ve ever thought your town was boring, that’s all the more reason to try being a tourist! Adventures can happen anywhere if you just take that first step out the door.


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