Mike: What kind of obligation, contract obligation, is there? What if, a year from now, someone else comes along and they want to change out of your plan? Is there some commitment that way?
Mary Beth: We have a 3-year contract. Our offer or our request is, say your brother got into the business, or sister, and they’re basically going to give it away to you for free. All we ask is that, if you do get a bid from someone else, show it to us. If we can’t beat it, we’ll tell you, “I can’t beat it.” That has happened.
Mike: There’s only so much you can do.
Mary Beth: Right, there’s only so much, to use a phrase ‘meat on the bone’. There’s only so much. VISA and MasterCard get 90% or more of everything. The only time I can think of for some of my clients that happened, is, God bless them, they were a family-owned business and started expanding and grew to 5 and 6 locations. The Monster Account people that can basically, super, super-slim margins can pick them up. We say, “Thank you. I can’t help you.”
Mike: You win because you save a couple of pennies, but you lose because maybe the personal touch is not there. Maybe that one idea that you personally might think to give them that would help them increase their business a small percentage, that’s going above and beyond the expectations, and you’re not going to get that with the big guy. There’s always the give and take. One question that I wonder is, when you’ve done these comparisons, what’s the biggest amount of savings that you’ve seen? Have you been able to save people how much per month?
Mary Beth: I actually had, I don’t want to say a new winner, but the person I’ve saved the most was just this summer. Nice, 2 small towns, have a nice, 2 restaurants. I saved them $1,000 a month at one location, and $500 at the other. I was choking. I had my office manger, we looked at this, are we reading this right? If you’re making $30,000-$40,000 a month, that’s $18,000 a year. I was just stunned.
Mike: You know what? It’s like this. It doesn’t matter whether you’re making a trillion dollars a month. If someone knocked on your door, and you opened it up, and they pulled out this briefcase with $1,500 in cash and said, “Have a nice day. I’ll see you next month.” The next month, they show up with the same … It doesn’t matter. You’re going to find a use for that money, and that is money that is yours that you should be accessing, but you can’t access now, because you’re in a different plan. I just think that is amazing to be able to show people. Do you have to change your processes? Nope. You’re still swiping the card or doing whatever you’re doing. It’s nothing new. There’s no re-training to the employees. It’s just that now you’re paying a smaller bill in your processing fee.
Mary Beth: I want to give a shout-out or a congratulations to, I work with a lot of accountants, bookkeepers and accountants. People that are already looking at the Profit & Loss, P&L’s, and they can see, I said, “Take a little snapshot in your mind. You can do a quick math. If they’re paying anything over 3%, send your people to me.” I’ve got accountants sending me 2 to 5 people at a time, because they don’t need to be an expert, but they can sure look like a hero to their clients.
From there, what if that business owner was struggling, and they weren’t always keeping their business insurance in place? They’re trying to cut corners or they couldn’t add that extra employee or two, or grow, or buy more materials. My accountants and team find them and reallocate their money. It’s amazing how they can grow. We’ve had great success with that referral business.
Mike: Yeah, and it doesn’t take large, huge percentages. It just takes a little savings here, and a little savings here and a little savings here, and a little increase here, to make a big, massive difference in the bottom line. When people that are influencers, like an accountant/bookkeeper, and they’re seeing that percentage is just a quick calculation, and if it’s over a certain number, you ought to check it out. To make a quick, easy comparison with a month’s worth of statements, and, guess what? If you come back and say, “You know what? We can match that.” Well, it didn’t take a lot of effort to confirm in that business owner’s mind that they’re in the best plan.
Mary Beth: Exactly, and then they can have peace of mind. If you know, you know, ant that’s great. There’s been a handful, I’ve had 4 computer stores out in Tennessee. I said, “Don’t ever change. You’ve got killer rates.” Now, he can sleep at night. “Great. I’m all set. I’m good.”
Mike: For people who want to learn more or get in touch with you, what’s the best way that they can contact you?
Mary Beth: Great. They can always call. My direct line is 303-268-5506. Of course, they can email me. That would be wonderful, mstenzelmersatech.com.
Mike: It was great hearing from you, learning some of these tips and tricks. I’m sure you are really happy and fulfilled when you’re able to deliver those kinds of savings to businesses, because these days, a couple of extra dollars at the end of the month really does make a big impact.
Mary Beth: It makes a difference. It sure does. Then, we end up being, not that we’re a business advisor, but they’ll bounce ideas off us and we can refer people, to say, “I think you should meet so-and-so.”, and, there you go. It’s been wonderful.
Mary Beth: Great.
Mike: Well, thank you so much, Mary Beth.