Accepting Credit Cards
Taking credit cards for payment of the seminar registration fee will help to increase the number of people who sign up. If you can’t yet accept credit cards, you need to get set up to do so. Card Service International can help. Call them at 1-800-675-6573. They specialize in working with individual entrepreneurs who usually have a hard time getting accepted to receive a merchant account.
I take Visa, MasterCard and American Express. You must take all of these. No exceptions. If you can, try to get set up to accept every card. But as a minimum, you must take the top three cards.
You’ll need to accept credit cards for registration, product sales, teleseminars and monthly coaching. One of my clients even pays for consulting by credit card. They do this so that they can get their airline miles. I don’t care. I get paid right away when they give me a card. So what if I have to pay 2% to the credit card company? I get my money immediately.
Please, follow my lead.
You should make it as easy as possible for people to give you money. Take checks, credit cards, money orders, cash, whatever people want to give you. I still don’t take Discover cards. I should. Make it as easy as is humanly possible for people to open up their wallets and slap some cash into your hand.
If you take checks, will you occasionally get burned? Absolutely. Should this stop you from taking them? Never. It’s a cost of doing business.
Getting set up to take credit cards used to require a signed recommendation from the Pope. Things are now slightly easier. Check Appendix A for suggestions on who to talk to about getting set up to take credit cards.
If you’re offering a high-priced event, it might also make sense to let people give you their money in installments. Remember, your marginal cost for a seat is pretty low. I only suggest you do this for people who ask. I wouldn’t advertise the fact that you do.
I have also begun letting certain people who are skeptical pay me when the event is over. I have neverbeen burned using this tactic. If you over-deliver, you’ll be in good shape if you go this route on the rare occasion when it’s the only way to make a sale.