Earning From Digital Payments
with David Carlin
In this episode of the Making Bank podcast, we welcome guest David Carlin. David is one half of the husband and wife duo, David and Patricia. David has been the leading expert in the digital payments and credit card processing industry for over 20 years. From the time he married his wife, they have been able to bring to life and grow some of the very first e-commerce brands online. The companies and brands that have benefitted from their efforts include Star Wars, Sony Music, Time Magazine, and even some of the early dating websites. Nowadays, the power couple strives to inspire young entrepreneurs and share their expansive knowledge of this now 400 billion dollar industry. Not only do they help couples in terms of their business, but they’re passionate about helping them with the entrepreneurial lifestyle as well as strengthening their relationships on a personal level.
This week on the podcast, David explains how he and his wife got to where they are today and what you can learn from the training they provide.
Listen to Josh and David discuss making money from your credit card:
(1:24) What Does David Do
David already owned his own retailing company, but when he married his wife, he fully submerged himself in the credit card processing industry. David and Patricia are brand payments and business experts. They help new businesses set up their credit card processing, and if you’ve got an established business, they’ll help you make money faster. Through their company, Residual Payments, they train people on how to set up their own payment companies that can work alongside similar companies, so rather than being competition, they work together and use their power in numbers to get exclusivity and better rates.
(9:10) Biggest Challenges David Faced Growing The Company
David believes that knowledge should be either free or as close as possible to being free. He truly believes in helping people become successful. So to grow their company, Residual Payments, David and his wife offered their program for just a dollar to join. That gave you access to live training, and they taught you everything you would need to know about the business. After your initial training, you’re free to choose whether you want to work with them and move on to more extended training programs or branch out on your own. Most people would choose to work with them because it made more sense to have power in numbers rather than be the competition.
(13:11) The Training Program
By joining the training program, you are entailed to hundreds of hours of video content. There’s live training, and you’ll receive online support 24/7. David and his wife try to provide as much help as possible without doing the work for you. The program isn’t meant to spoon-feed you to success; it’s about empowering and enabling you to create success independently while being guided by David and Patricia.
(16:45) Top Three Things To Do When Training People
- Whenever you’re teaching someone, you have to make sure you’re getting your point across, and that person is retaining the correct information.
- Be accountable — most people, especially any entrepreneur, need to learn to be responsible. Sometimes it can get hard to hold yourself accountable, and that’s why it’s essential to have a group of people around you that can keep you accountable.
- Make sure you’re honest with others and, more importantly, with yourself. Even if you’re not the best at something, learn to admit that you aren’t. Stay true to yourself and know where you stand so that you can always work to improve yourself and get better.
(22:20) The Takeaway
There are two things David always aims to do. The first is to inspire you, whether it’s to learn from his example or to set out and do something completely different. The goal is to be an inspiration. The second thing is to empower people. You don’t want to have to carry people on your back constantly. Find someone willing to work and help them improve, not by doing the work for them but by empowering them through your support.
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