Don’t Let Buyer’s REMORSE Stop You or Your Clients

This past week, I was contemplating how you are the culprit of your own success or failure. Unconsciously, you get in your own way of moving forward or making a shift happen that you want to see happen. I am guilty of it myself! Sometimes it takes a simple thing such as investing in yourself or your business to take it up a notch. I remember when I used to only take CASH or checks as payment from my clients…for 11 years, no less! Believe me, it limited me and I didn’t even realize it until I got myself a merchant account. We have to face it, we live in a world of convenience with debit cards and credit cards. Visa-Mastercard-credit-cardsThe minute I signed up for a merchant account, my healing business doubled. I made it convenient for my clients to pay me!…And no this wasn’t a PayPal account! It was a merchant account where I could process payments and set up recurring payments once I figured out that it was another convenience that I could provide for my clients. Hence, I made it EASY to do business with me, thus another way of providing great service.

Don’t get me wrong, I love PayPal for online payments and honestly, I have to tell you that I am doing some research to replace my online payments so that I have ONE merchant account for automatic online business and in-your-face kind of business.  I have heard from one of my mentees that she didn’t want to take credit cards because of the merchant fees that she has to pay to accept the credit cards. I used to have the same mind set until I realized how much business I lost because I didn’t make payments convenient for my clients. My mentee took PayPal, but let me tell you that you can lose a sale between the time that you send the PayPal invoice to the time that the person actually said yes to you over the telephone. It’s not to play the bait and switch.  It’s that same mirror that hits you when you decided not to have a merchant account – it’s called buyer’s remorse translated into EGO. Ego is fearful of a lot of things. It’s fearful about money. I don’t care how much money you have or don’t have, EGO goes there. EGO is like your safety manager, who plants everything that is FEAR based into your mind. EGO can stop you in your tracks and keep you from moving forward to have the business that you want.   

So I ask you, are the merchant fees worth paying if you are going to make more money than you ever have in your business? Besides, you can write those merchant fees off on your income taxes.

So what’s stopping you to take it up a notch in your business?

Want to know how to take up a notch in your business…check out my tele-class on Thursday, November 14th at 10 AM PST The 5 Steps to Building a Loyal Clientele and learn how you can squash this monster of a BUYER’S REMORSE for both you and your clients! To register for the class, click HERE.

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Don’t Let Buyer’s REMORSE Stop You or Your Clients — 14 Comments

  1. I love this post, Tomasa. I totally agree we must make the payment part of our business easy. Many of my clients don’t want to take American Express because the fees are higher. However, some people only use American Express because they provide the best rewards. So in my opinion, we should have all payment portals open to prevent that EGO gap that you spoke about from creeping in. Again, excellent topic, thanks for sharing!

    • Angela, you never seize to amaze me. I think I better look at AMEX myself. I certainly use AMEX, but I also know that they are very pro-consumer. I know one of my friends who uses it just for that reason. 😉 Honestly, I never had a problem with any reverse charges…rarely does it happen. EGO is something that I’m looking at as I prepare for my call on Thursday. So you know that I am about to take everyone deep.

  2. I SO needed to read this! I’ve been working a lot on the logistics of my business regarding payment, how to take it, trying to make it easiest for my clients, etc. and this really helped bring some clarity to my struggle!

    • I’m so glad that it helped you Katie. I see this all the time…we get caught up with the fees instead of the bigger picture. Cheers to you taking the next step Katie!

  3. I agree with this. Convenience is huge. Credit card transactions make up the majority of my sales. I’m familiar with the irritations of using dial-up processors and of using card readers (I’ve had three phones on the compatible list that were super glitchy and would interpret a CC swipe as “auto-dial last contact”, leading to higher transaction fees when I gave up and started keying in every transaction), but the processors are getting better, which is really important, because they’re simultaneously becoming more expected.

  4. Tomasa! great Post! I agree wholeheartedly. It is about the client’s convenience! i have been a consumer for a long time and LOVE it when it is hassle free…i do understand when my providers don’t want to take my card but I LOVE IT when I can use whatever card I want to use … for my personal reasons…so now, me, as the provider, I want to honor the client with any card they want to use. OF Course the client wants to use the one that is pro- consumer so do I! Thanks for your posting about this! Great fun to read all this and think it through. xoxo K

  5. Wonderful insights Tomasa! I couldn’t agree more. Ensuring that it is an easy “yes” for your customers + freeing up your time through automation is priority.

    Fabulous!

  6. I totally agree with you! I have actually received an invoice from a coach through paypal and tried to pay it 3 or 4 different times and was unable to pay it due to paypal! It made me second guess by purchase since I was running into all of those problems! Paypal infuriates me!

    I actually do not mind paying the merchant fees since it gives my clients the option to not only pay by credit card but split over different credit cards!

  7. good reminders, Tomasa. Biz Mojo. 🙂 You know i love the easy button. I also appreciate Angela’s share – as American Express is my card of choice. For those starting out, AMEX is biz-friendly (very low 1st time rates). And, PayPal app allows you to take payments like a merchant account & accept AMEX. Wishing you much success with your call and signups. 🙂

  8. I agree 100% with you Tomasa. I am always surprised when my colleagues do not take credit cards. Credit makes it easier for clients to pay and it also makes it easier for them to pay for a big sale, like a package. Why not make it easy for them to pay. Fees are just the cost of doing business. Real businesses pay fees because they are bringing in real money :).

  9. Your post is so timely for me. I am currently moving into a more expanded state around money and income so this really hit home. “So what’s stopping you to take it up a notch in your business?” I am sitting with this question today and can already feel a shift. Thank you, Tomasa!

  10. Love the nuts and bolts of this, Tomasa! I’m wondering if a merchant account is any different than accepting credit cards through square? I’ve used that but thought people wouldn’t want to give me their card #s so I use paypal, but I’m hearing differently from you on this. I appreciate the business mojoness of this blog piece!!! Thanks!

    • Michelle, a square account is somewhat a merchant account. The caveat with square is that it is pro consumer. So one of your clients can say that they didn’t authorize a charge and then there goes a debit on your merchant account. My question is does SQUARE offer a reccurring payment plan.
      You need your merchant account to have these components-
      -Low Monthly fees or none if possible
      -No more than 3% fees per transaction
      -Recurring payment options

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