Scalable Payment Solutions For Biz-Op & MLM Merchants
Jul 25, 2020
We’re curious – what’s the first thing that comes to mind when you hear the words biz-op, mastermind or MLM?
Most people would immediately say stuff like this:
“Fake so-called gurus!”
It’s true that some consumers are very weary of merchants in the business opportunity industry.
Why? It’s all because of a few cases of business entities that have led to bad reputations.
A scammer who acts as if they do business coaching will damage the reputation of actual business coaches. The same goes for work from home offers or whatever gigs that make money online.
And because of this, merchants have a hard time getting their clients and payment processors to trust them.
So, in the next few minutes, we’ll be revealing ways you can overcome this problem.
You can scale an honest business in these categories like never before.
What’s trending in the age of WFH (work from home)
As you know, we’ve now entered a new economy since the COVID-19 pandemic happened.
That’s right. The economy you knew long and well before is dead. And if anyone isn’t keeping up with the new trends, it will be a struggle to survive financially.
You’ve probably seen how brick and mortar stores have been hit the hardest since they didn’t transition into an e-commerce platform sooner. And if it wasn’t for platforms like Zoom, mastermind groups and e-learning couldn’t have been a better experience.
In this new economy, more and more people are looking for a coaching, mastermind groups, business opportunity (biz-op) or multilevel marketing (MLM) they can do from their couch. They know that most jobs aren’t secure anymore unless they are internet based. That’s regardless of whether it’s work from home offers or a side gig to make money online.
And with the rise of internet sales, the opportunities online aren’t going away anytime soon. That’s why home-based business offers like MLM are starting to boom again.
“How-To” courses don’t do the trick anymore
Coaches know that the only way to survive this new economy is if you have a skill – not a job.
A skill is when you’re getting paid top dollar for your results. And a job is when you trade hours for dollars. That’s a big difference that the gig economy helped highlight.
Business coaching, business consulting, and being a copywriter coach are all examples of skills. Many people now know that you can get paid more by making a greater impact on others, and you don’t even have to spend a lot of time doing it!
Since most people want to get better results faster, the how-to digital courses and content don’t do the trick anymore. People need to have actual peer-to-peer advice and feedback. That’s why they’re more focused on mastermind groups, because it’s the only way you’ll learn new skills in a shorter amount of time.
Now imagine you’re the host of a mastermind group. People are paying you recurring high-ticket fees for your group coaching to foster an in-demand skill – such as learning direct response marketing from a copywriting course. The best part is that it only takes you a few hours of your time, and you can still scale with more clients.
Wouldn’t that be a profitable business opportunity for you?
If you agree, it’s time for the next step. That is to look into having additional payment processing solutions. To prevent your recurring clients from having any payment issues, contact DirectPayNet to get you situated.
The new reality of attracting high-paying buyers
If you don’t know where to look for high-paying buyers, attending live events is your best bet.
Think about it.
These buyers are willing to pay for event tickets and traveling fees in hopes of landing high-level opportunities. So higher price point packages or services is exactly what they’re looking for.
And that’s where you come in. You could have a higher chance of attracting them with your biz-op, MLM, or mastermind group at live events.
But since travel hasn’t been possible due to the global pandemic large group gatherings have ceased.
Now you may be thinking…what’s is the next best thing for attracting high-paying buyers? Well, you can still very much attend live events. It’s just that they’ve gone virtual instead.
Business owners have to adjust to this new reality and connect with potential buyers through virtual live events now for their coaching or mastermind groups. In fact, attendance rates have skyrocketed since more people from around the world can participate.
As reported by Forbes.com: Virtual events up 1000% since COVID-19, with 52,000 on just one platform.
That means this new reality can maximize your reach and attract more of the right buyers as never before.
Popular coaches like Tai Lopez and the entrepreneurs from Lurn.com have taken great advantage of this. They’ve been releasing a lot more online training for those who are looking to build on their skill set.
Since many countries are on lockdown, more people are spending time online. So, the best action to take is to get in front of their eyes and get more sales. This might explain why you’ve been seeing an increase in social media ads for supplements, coaching, mastermind or educational groups while scrolling through your phone.
There’s never been a better time to market and advertise biz-op than now. This industry is still booming – even when there’s a pandemic happening. And that’s how you’ll be able to tell that these opportunities are secure in any global economy.
Challenges biz-op & MLM merchants are facing right now
While work-from-home offers that help people money online might be a great idea, there’s also been ongoing challenges for these merchants.
As we mentioned briefly before, payment processors are still having a hard time trusting biz-op and MLM merchants. Since this is an ideal business opportunity for anyone to go after, scammers think the same as well.
They could set up a website disguising as a copywriting course and then attract buyers to pay. Once their buyers find out, there will be a high demand for chargebacks and refunds.
That’s why a lot of people are skeptical and harder to sell to especially when it’s for a high-ticket mastermind course or event. And since payment processors have trouble identifying illegal schemes, merchants have to face these challenges with accepting payments.
They could experience a high volume of denied transactions which might lead buyers to believe they’re a fraud when they’re not. And this could cause a negative reputation in the long run.
So, how can we be sure this doesn’t happen to your business?
You’ll need to do your due diligence and don’t make outrageous claims on earned income. Since you can’t promise everyone the same results, you’ll need to be clear about it and make sure people are aware. Otherwise, you could get in hot water with the Federal Trade Commission (FTC) and other authorities.
Here’s an example of what a disclaimer looks like from Dan Lok’s programs:
“We don’t believe in get-rich-quick programs. We believe in hard work, adding value, and serving others. And that’s what our programs are designed to help you do. As stated by law, we cannot and do not make any guarantees about your own ability to get results or earn any money with our ideas, information, programs, or strategies. We don’t know you and, besides, your results in life are up to you. Agreed? We’re here to help by giving you our greatest strategies to move you forward faster. However, nothing on this page or any of our websites or emails is a promise or guarantee of future earnings. Any financial numbers referenced here, or on any of our sites or emails, are simply estimates or projections or past results, and should not be considered exact, actual or as a promise of potential earnings – all numbers are illustrative only.”
If you follow this strategy, you’ll allow yourself peace of mind on all future online transactions. And with reliable payment processing solutions, you can ensure that your payment gateway will run successfully.
Ready for a scalable payment processing solution?
Accepting payments shouldn’t be an issue when you’re trying to scale your online business.
Unfortunately for industries like coaching, biz-op and MLM, they constantly have to face these challenges even when they’re doing everything else right.
It shouldn’t have to be this way, but this is the reality if you want to make money online. And what’s bad enough is that this could damage reputation. Not only yours, but other businesses similar to yours too.
Once a previous buyer has a bad experience with their payment, they’ll immediately think that all business opportunities are the same.
But luckily, you now know how to overcome these challenges. All it takes is for you to find a new or additional payment processing solutions.