Welcome to today's Maverick Minute! Five easy ways to become a merchant service providers dream…. Aka how to avoid becoming the dreaded problem merchant! Five ways and that's it! And they're not that difficult either. "But Amad!" you might be asking "Why should I care?" Because when you do find a merchant service provider, a good one, you want to keep that relationship. Otherwise you can end up back out on the meat market. Thanks! Hey, what's up, man? My merchant service provider broke up with me. What? Oh, man. I'm sorry to hear that! Who were you with? Payment Depot! Oh no! But, what did you do? I was a problem merchant…. So, let's start with rules number 1 and 2 on how to avoid becoming a problem merchant.
Rule number one: Read your contract! I seriously cannot overstate this. Read your contract before signing it. Rule number two: Be honest with your business profile! Don't fudge on the details thinking that you're being sneaky only to be shocked when your merchant service provider drops for being high-risk. And keep them informed if your business model does change. Remember, this is about building a good relationship, so you don't end up like this guy? All right folks! That's two out of the five ways to avoid becoming a problem merchant. Come back next week for the rest. Ah! And, if you already are a high risk merchant, don't forget to check out Aura's video in our other Maverick Minute. For small business tips subscribe to our channel and click the bell so you don't miss new Maverick Minute episodes. And please tell us what topics you'd like to see us cover in the comments below..
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