Clark Pierson - March 2020

03/2020

The CLARK PIERSON Letter

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

1

Made with FlippingBook Learn more on our blog