Gift card sales have carved out a special place for themselves in the e-commerce market for electronic goods. Unlike selling accounts or virtual currency, selling gift cards is a lot riskier in terms of changing card codes, expired codes, ending legitimacy, or card balance fraud. In this tactical guide, we will discuss the possible risks that come with selling PSC gift cards. By navigating issues such as these, sellers can allow themselves to offer their goods profitably. The objective of this guide is to inform sellers who are considering working with gift cards in the marketplace. In order to transcend common problems in the world of startups, knowledge is essential. The purpose of this strategy is to increase the success of your project by accelerating it and the pace at which it reaches its goals. We highly recommend that sellers new to the game find at least 15 minutes to make themselves familiar with the basics of PSC gift cards. This brief information will serve as a good foundation for our upcoming tactical strategy.
Purpose of the Guide
Our hope is that by addressing these major problems that the industry faces, those who engage in the selling process will have a more informed mindset regarding their own risk management and business operations. It is our sincere hope that after reading through this guide, new sellers will be better equipped for the process of selling large volumes of gift cards, and seasoned sellers will have a new perspective on the industry and some updated comprehension on how they can refine their processes. Further, as always, the foundation for selling any gift cards is in your thoroughness, caution, and scrutiny in the buying process.
It is important to note that at the conclusion of this guide, you may experience a shift in your operations, figure out a new path, or just become more aware. This transaction is ethical, transparent, and cost-efficient if conducted in the proper manner with compliance at the forefront. The guide contains our most up-to-date understanding and approach to selling these to you. Finally, and most importantly, you may be equipped to continue to wisely understand the value of your investment, of ethical peculiarities, or partake in practices that abide by all rules and regulations set forth. This guide will take you through the day-to-day insights of selling yourself and operationally making a profit.
Scope and Objectives
1. Introduction 1.2. Scope and Objective The objective of this guide is to familiarize you with the terrain presented by the games of PSC gift card transactions. It will engage both the individual seller and business entities looking to provide a PSC exchange service. At practically every stage of the business cycle, there are potential legal pitfalls that could produce bad outcomes for you or your company. The aim of this guide is to flag some of those potential pitfalls. In each of the topics dealt with below, I will provide brief practical recommendations and the best practices for avoiding some of the potential pitfalls identified in the PSC transaction process. While this guide can profitably inform your transaction, the biggest takeaway is that the actual best practices should start long before you consider the disclaimers about the fine print at the transaction stage. A transaction’s legal quality is often only the result of the legal risks that began accumulating at the earliest possible moment. So many factors can be out of your control at the time of the trade that the time to avoid the lion’s share of these risks is to have taken stock and foreseen the potential harms and lawsuits before you even started considering legal rights and duties from the first moment of your PSC card exchange business. The disclaimer, prudent advice, and background information throughout the following guide is a best practice to adopt so that bad outcomes can be averted point-blank. At the very least, I hope to provide you with something to consider that you had not previously thought of. PSC gift cards are a staple of instant transactions. PSC gift card trading is a profitable business, but it carries some risk. Here are some of the topics that are to follow in this PSC trading guide. The first is a brief overview of the legal landscape on prepaid hosting service trading. Secondly, this guide will highlight areas of potential threats in PSC exchanges.
Understanding PSC Gift Cards
Gift cards exist in a digital realm. You've most likely heard of gift cards, but what about gift cards on the e-commerce platform? You are not alone. The public has largely shifted in favor of purchasing items over the internet, and gift cards have also undergone transformation. This is not the only explanation for the present prevalence of gift cards on the internet. Drawing from a variety of reasons why one gift card is chosen over another, sellers gradually learn the most lucrative ways to sell them. Plain and simple, a gift card issued by a respected company is a highly desirable item. It is imperative for sellers to understand the principles on which the selling of plastic cards runs; by selling anything without learning how value works and is generated, sellers will misuse and cripple a market that is currently thriving.
Understanding "plastic" gift cards is important. People who receive cards are given a small piece of premium – something that they might have bought previously, but given an option to receive as a "gift," the recipient is touched or enriched in small ways. Companies profit because not all cards will be redeemed – some may go completely unused – or the customer, liking the product, ends up spending more money than the gift card is worth. It is important to know that making these cards gives the issuer financial value, not the recipient. Only the issuer – the card manufacturer, gift card store, or any online store – stands to profit or lose. Only the issuer will be immediately impacted by a change in policy, as in the case of obviously added value. Other participants, as we will see, are affected indirectly.
What Are PSC Gift Cards?
PSC gift cards—also referred to as Paysafecard gift cards—are stored-value cards. They work much like gift cards for upscale retail outlets or service providers, but Paysafecards offer the additional capability of converting between payment systems. These gift cards may be sold for Bitcoin or a variety of wallet payment systems, which the seller can then use to cash out or make other forms of purchases. Think of a Paysafecard gift card as the modern-day equivalent of a store gift card that could be re-gifted and then spent in-store, spent online, or cashed out to anyone's benefit.
PSC gift cards are sold for various sums or "denominations" and are made up of a PIN code that entitles you to purchase products and services at any of the accepting e-store sites. Many cards are low denominations for a quick cash out or purchase. Customers pay for the gift card in whatever currency or payment system they use; after a swift and mostly automated exchange, the buyer receives the Paysafecard PIN code either via PM, email, or from a worker who has the PIN card and promises to give the code after proof of payment is received. Once you have the PIN, you can use Paysafecard to buy a huge variety of products, software, in-game currency, etc., from e-commerce providers. Stores and services that accept PSC gift cards display the PSC logo on their website; the site offers a search engine that lists all participating stores worldwide.
Compliance and the Risks of Each
Different types of gift cards have different rules regarding card use and can also impact buyer decisions based on compliance and where the buyer resides. They may also be subject to AML rules, even though utilizing an eGift card has less regulatory oversight. Understanding the various types of marketplaces, the ability to make cost-effective sales, and raise the profit margins comes back to the knowledge of the different types of gift cards along with the limitations, fraud issues, and ability of fraudsters to change the percentage of card use at any given time. With this knowledge, we can determine the possible pitfalls that can come from each variety of card and sales methods.
Regulations and Compliance
At the outset, it is necessary to consider two major pieces of federal legislation regarding these sorts of transactions: compliance requirements. These require that as a seller, you take reasonable measures to confirm your customers are who they say they are when buying and selling gift cards. Federal law obligates you to report any single transaction that is over a specified amount. Although you may encounter sellers who wish to purchase more than this amount at a time, prescreening to assure your sellers understand the compliance regulations is essential to avoiding the high demands of such transactions. Certain mandates require that businesses involving money services must register with the federal government and report certain types of transactions. As a seller, you will need to complete online registration of a specific form. Once registered, you are subject to the requirements of businesses as defined by the relevant acts and their implementing regulations, including the development of a compliance program and reporting of certain cash transactions and certain money orders.
A hallmark of honest and reputable businesses is the willingness to follow rules, regulations, laws, and requirements. It is neither legal nor ethical to sell any prepaid gift or cash-like item without your customer providing certain personal information. By refusing to sell or buy from customers who refuse to communicate with you about the information they need to provide in order to meet the minimum regulations, you will be demonstrating yourself as a reputable business. Compliance with regulations demonstrates your rights and legal ability to conduct business, decreasing the fraud exposure you may have as a victim of dishonest individuals. Verification of the buyer’s identity is also a demand of many retailers in their offer price list they present to sellers.
Legal Frameworks
The sale of PSC gift cards is not a universally established practice in the United States, Canada, or within the international community at large. PSC does not have any responsibility to define the specific laws and regulations within any particular jurisdiction. However, these laws are important as they are the legal frameworks that should guide the responsibility for the sale of these PSC gift cards in these jurisdictions. Federal laws in the United States and Canada will apply across all relevant jurisdictions in those countries. However, the individual laws in each state or province will also apply in addition to those federal laws. Internationally, a retailer who leaves specific access points open may find they are selling cards into jurisdictions with separate and independent legal frameworks that must be complied with in addition to those of their home country, and there may be complexities in selling a card to a customer who has temporarily traveled into another jurisdiction while using the card. Implications: Because these laws can differ depending on location, sellers from different places will need to observe different legal frameworks to legally engage in PSC gift card resale transactions. Additionally, individual sellers must decide if, based on their own expertise and a clear understanding of the laws, the requirements and risks are acceptable to them. These legal frameworks provide the test for whether a seller is engaging in financially recoverable selling practices, considers the consumer, takes on acceptable risk, and is operating a legitimate business. By ensuring compliance with all relevant card protection laws and regulations, a seller can serve as an essential point of protection for the physical cards consumers buy, thereby meeting a card program's test for success.
Common Pitfalls in PSC Gift Card Sell
Many sellers are likely to make multiple mistakes when venturing out to sell their products, particularly in the digital and fast-evolving gift card market. For this reason, we believe highlighting potential pitfalls is crucial before proceeding to inform you about more detailed cooperation. A lack of knowledge can result in loss of time, resources, and money. Besides, not only fraud but an excessively expensive verification can represent a potential pitfall, a source of unnecessary costs that have an impact on your profits.
Reactivation of already redeemed codes, as well as reselling codes from unauthorized sources, are serious issues as well. Both activities may lead to the blocking of your and the end customer's codes. The exchange of any currencies, including codes, for illegally gained cryptocurrencies is a serious criminal offense and will inevitably lead to legal persecution. By entering the market, you have to be prepared to face delusion, stress, and a whole lot of time-wasting activities. You need to look at all the information you are given. You need to scan the transaction file names and submit them as evidence. To help you with all that, here are also some of the common red flags you should be closely familiar with.
Fraudulent Activities
The fraudulent activities that 'PSC sell gift card' is vulnerable to are cashouts scanned from fake IDs, refunds, identity theft combined with ACH pullbacks, wire fraud, and more. The damage that issuing such gift cards can cause in each of these forms of fraudulent and abusive activity is threefold. First, any revenue lost from the fraud is at the seller's expense because the cardholder is not the person who was current. Second, issuing a new card to a fraud or scam victim is another cost to the seller on top of refunding the fraudster. Third, individual scams could potentially do extreme damage to the seller's reputation, especially if they get media attention, thereby inhibiting sales for an unknown duration via a form of stigma.
Sellers of cards that have proven to have a high incidence of fraud may be the argument for widespread distrust. An example of rampant fraud for interest in 'carded' gift cards can be shown in the negative reviews for Mercado Pago cards on the part of site managers, waiting for the engineering team to find a solution. Fraudulent activities, such as the ones too easy to find from searches for 'PSC cashout', 'cashout PSC', and 'PSC carding', can do major damage to sellers' reputations. It is vital that a culture of vicarious vigilance is fostered to thwart a broader array of these potential dangers. This part of our evidence highlights real examples of each type of fraud that we have been able to identify. Identifying examples of abuse is at the heart of risk management. Nonetheless, forcibly concluding that any individual transaction, if committed using one of these methods, is necessarily breaking any law. It is up to the relevant authorities to make that call. As is clear, potential identity fraud took place shortly after the card had been sold a few hours earlier.
Unauthorized Reselling
Some suppliers victimize other suppliers and have given credit to people who resell without authorization. In the worst-case scenario, if you’ve gotten paid and have left the credit on a card balance, you’re at risk of being attacked and scammed by a consummate fraud. Existing cards have been on the market since you didn’t turn the credit into cash and were unaware of the fraud. You may not receive payment from legal buyers of your digital gift card inventory due to voided cards. If your credit reseller gets caught reselling your cards without authorization from another complaining seller and the cards are voided, someone else has to buy the card or do a chargeback. If cheaper sellers take your cards claiming that they are the operator or a proper representative authorized to accept your new credit, you may also be cheated out of obtaining a payable card. The cheaper rate is due to sales tax exemption, and they are collecting resale tax ID from the consumer. Nobody else has bothered to contact the state’s filings and view either this or eligible details. Personally, I’d go the legal route as I need some cash. The cash will be reserved for the owners of the cards. If he refuses to refund the cards, I’ll see him in bankruptcy and liquidate his inventory. I include details regarding the address he was sent to, any of the info you’ve gathered.
Best Practices for Sellers
Now that the reasons why we must be diligent in our selling process have been covered, here is a compilation of industry best practices that we can follow to protect ourselves. While some practices focus on risk and diligence, the ongoing theme here is seller credibility building. Many of the best practices hold a dual role of compliance with legal requirements and are also practices used for building a trader’s credibility. Acknowledging that we have a large variety of sellers from teenagers to retirees, practical steps are included here for sellers looking to improve their program of due diligence.
One of the ways sellers can become responsible PSC sellers is to adopt industry standards and regulations. A number of sellers are already in compliance with these anti-fraud laws either voluntarily or as required by law. The best practices move in compliance with federal and state regulations and serve to outline a completely sealed chain of evidence that illegal proceeds would not occur. This aids in the creation of a responsible selling culture for our customers. Due Diligence Practices: 1. Thoroughly verify and authenticate all of your customers. You can conduct an in-person transaction after going through all the checks in order to have both the customer and their identification fully verified. 2. Set up transaction monitoring to detect and investigate large volumes or high amounts of business. Use your transaction management system to create a log of customer flow and data. Use it as a tool to scrutinize quantifiable business operations that do not generate the necessary information and therefore do not need to be recorded.
Verification and Authentication Procedures
As emphasized above, creating comprehensive verification and authentication processes is imperative for reducing fraud and fraud-related income loss associated with gift cards in order to lower associated risks. One initial mechanism that sellers may implement is to establish advanced mechanisms to verify and/or authenticate processes. Some sellers require a buyer to sign an electronic contract. Others ask buyers for document scans. Even the most basic seller authentications are more secure than checking KYC and background data from a new client only in the rare case of fraud. Vouchers from various regions do not have marital card numbers.
In addition to these, some sellers choose to use commercial verification services. This includes facial recognition systems and current sellers using identity confirmation processes. For some marketplace individuals, there are also requests to pay only in certain cryptocurrencies. This minimizes risk because buyers inherently tend to stay more anonymous. Verification actions to prevent fraud involve a few options every holder can use. Given that there is not actually a single product on every market that is suitable for everyone, the discretion of retailers and their staff is enhanced. It's essential that anyone working with the seller is encouraged to follow the rules and to understand the significance of such actions. How these processes are carried out and their efficacy for a given seller can depend on a number of factors such as size and security budgets. We have also developed significant IT devices of different kinds.
Transaction Monitoring
One critical step in evaluating PSC gift card sales is transaction monitoring. Transaction monitoring refers to the scrutiny of payments and transactions to look out for strange operations indicating fraud or unauthorized activities. The reason for maintaining vigilance on a daily basis is to pinpoint indicators of danger before fraud becomes a reality or the legitimate holder of the card files a dispute for non-receipt. Keeping an eye on the transactions further enhances the identification of any unusual activity or signs of issues during the card loading or unloading pertaining to the data points generated by the sale. Without such continual reviewing, any effort to sell PSC cards can fail to detect a threat of an approaching fraud. However, there are a number of tools, methods, and practices that can be employed for this purpose. Using data analytics, while establishing patterns of user behavior, aids in creating an accurate account of transaction history and customer behavior on the platform. Furthermore, it assists in ensuring that all fund-transacting customers are not committing fraud.
Ensuring that each transaction is analyzed individually constitutes a secure move. This does not merely help in securing deposits, but also strengthens trust between the intermediating sellers and the buyers by implementing rigorous checking and security standard operating procedures. This helps in longer retention of a customer by not only securing them but also educating them about safer transaction behaviors. There is a great chance that if any buyer is not let down by any incident, then they would wish to continue doing transactions with the same seller in the near future. Instead of the buyers safeguarding their interests from being prone to getting their cash scammed, the holding account of the PSC cards is crucial for the success of any voluntary sale. There are vulnerabilities in the PSC ecosystem that can be exploited if the holding accounts are not vigilantly monitored. Data science and advanced AI have envisioned ways where the background of each transaction within the holding account can be scrutinized and supervised without any human input. These preventive measures taken in the direction of safeguarding the PSC card holding account provide the sale with a solid mechanism against online fraud, as sellers are able to trace slippery fraud only before it is executed.
Customer Education and Awareness
Customer education and awareness: As part of a fraud-prone industry, PSC gift card product sellers play a critical role in mitigating fraudsters' ability to resell products. The best way to achieve this is by effectively communicating risk to their customer base. Customers' ability to recognize potential risks and take protective measures will reduce the likelihood that they will become victims of fraud. One of the ways sellers can communicate that risk is by selling pre- and post-sale items that not only answer the question "What are gift cards?" but also delve into the potential pitfalls of selling their product.
A vanished gift card leaves a bitter taste. Perceived as a customer service contact point, it is another opportunity to interact and educationally engage the customer. Sellers can use the materials contained in this guide and their program manager to discuss how to feel about the promotion of "fraud conversations" and determine where to place them in their library or program. Some programs use surveying tools, not only to gauge satisfaction with the physical sale itself but also to end cap with a question on fraud. This feedback allows sellers to tailor future customer communication materials specifically for those looking for more information on the subject. By educating the customer, sellers will also drive added value in the form of loyalty and satisfaction. A customer with two pieces of product knowledge is more engaged and satisfied than one with only one piece of product knowledge. Communicating tangential benefits like this can be very persuasive when encouraging seller buy-in or gaining executive approval for additional expenses in the area of fraud education. Finally, sellers can use their collected educational outreach material to create an educational outreach program. Arming people with information is the first step to creating a unified front against those looking to perpetrate fraud.
Having common knowledge presented at a quiet time presents an opportunity for sellers to create a community of vigilant sellers. Customers armed with knowledge will bring problems to programs quicker, allowing the programs to seek solutions and implement new fraud protection mechanisms faster. Lastly, it will establish sellers as one of the few "ethical" sellers by taking the time to systematically help customers avoid fraud. Many educational ideas adapted for use in informal, program-based outreach settings can also be employed in a structured approach to fraud prevention.
Identifying Suspicious Activities
Protect yourself against trouble and smooth unexpected situations over with your buyers by being vigilant of potentially suspicious transactions. Anyone involved in the business of gift card sales is encouraged to keep their eyes peeled for any signs of fraud. This chapter is intended to provide some insight: what red flags to look for if you don’t want to get embroiled in a fraudulent story. If you have any similar experiences to share, please let other sellers know and describe them. By employing a critical approach to your transactions, you can protect both your own safety and that of your clients. Encourage a culture of diligence by exchanging information about fraudulent activities with the gift card community, because every one of us can make a small difference. The following are the most common signs of fraudulent activities; if you notice any of the following when dealing with gift card purchases, attempt to gather and analyze further suspicious evidence—there may be potential signs linked to any kind of scam. Is there a suspicious lack of detail about what the card buyer wants to know, or is there too much emphasis on price negotiation? For instance, does the buyer ask if the card is still active and wait close to the full value before trading, with very little commentary, including advice on the transfer process, balance, or protection? Have you ever noticed (a) the bite-and-run method, (b) the overly eager buyer, or (c) the totally ignorant person? Each of these is defined by a true seller scenario in the following.
Technological Solutions
There are many technological considerations that can make your life or gift cards more secure. Likewise, there are additional services and tools that will simply make your business run smoother. Technology is available that allows loaders to open gift cards and then immediately pay sellers. This decreases the amount of time sellers are waiting on their funds to be unloaded and decreases the amount of prepaid inventory within your account at any given time. A good place to start is encryption. Encoding of personal information keeps you, your load centers, and your sellers safer. Additionally, utilizing a gateway that is certified can also mitigate risk. This will allow loaders to have a secure channel to communicate with your debit card. Secure payment gateways also provide fraud prevention technology you will not have access to from a processor. Enhanced Transaction Data allows for better security, and the use of Level I and Level II Data helps businesses comply with the mandates surrounding regulations. This can also help sellers have an increased level of trust in your business.
Advanced Data Analytics can be utilized to get a better understanding of common seller and buyer behavior and can identify sellers using alternate accounts to resell gift cards. Data analytic tools can be used as a first line of defense against unauthorized purchases. EMV is the chip card you are required to use. The more data present in a grow, the more shed the encryption. Cards created with unique activation code capabilities and high-grade security measures supplied by a program intermediary are preferred. Cards using this model are also less often used in fraud. Highly secure cards are the only choice. Cards in a model do exactly the opposite, by spreading the data to many users, ensuring security on many accounts and creating a transparent approach to card ownership and unpredictable transaction patterns. Emerging technology may eventually offer a security and alternate approach. Data storage is very bulky and not intended for this change. While the use of blockchain is not yet practical, it is on the forefront of a developing industry. Model distributes the data to many potential users, creating added security for many users as opposed to single-party reliance on cybersecurity. Technology also holds the potential to address regulations.
Blockchain Technology
Although the specific techniques used in the PSC environment could likely serve as a foundation for additional identity of authorized users sell-side research, it is clear that the proliferation of blockchain solutions is only beginning. Distributed ledger technology can provide a clear history of who has received the relevant goods or services, helping establish a standard for authorized users of a PSC gift card. This solution provides a more secure and transparent system. This technology, forcibly shared between trusted partners, would help prevent the fraud that occurs in transactions even on one of the most secure gift card sites on the internet. Further, our approach captures the identity of someone who uses the site. This last step is invaluable for any investigation like this. It is always possible that the perpetrator breached the selling service, rather than the gatherer itself. Our analysis is able to include even this more likely payout stage as part of our coverage. Almost everyone involved in a PSC gift card sell campaign is going to employ purely low-tech solutions, in very high quantity, for a very low profit on bulk sales. However, those who are financially motivated to prosecute or protect in this environment should consider implementing, or being ready to withstand, sophisticated systems. Blockchain certainly contains many of the necessary building blocks, in terms of addressing abuse and bolstering the potential long-term viability of PSC systems. It behooves all researchers to seriously consider the impacts their favorite technologies will have on the digital commerce developments of the future. In this vein, it now seems only responsible to at least consider the improvements blockchain could make to PSC, at least in preventing some of these types of abuse or fraud from occurring, and hindering the PSC industry overall. No longer criminal until proven.
Case Studies
Case Study 1: Successful Canadian PSC Seller's Experience This seller has a successful PSC gift card business. The seller has been in the gift card industry for six years and has observed three main challenges faced by industry players: 1) low purchase prices by some resellers, 2) lost or stolen issues, 3) fraud. The main lesson learned from the seller’s decade of experience is that trust goes a long way, and there are many honest resellers in the market. As a seller, if the relationship is good and based on trust and honesty, they will stay with you as a vendor. Based on this premise, a good and loyal gift card seller’s responsibility is to offer good, realistic prices. Case Study 2: PSC Seller's Disappointing Experience A PSC gift card seller planned to grow their business quickly by adopting a strategy that initially appeared to be profitable. The seller would receive many orders by being the first seller in line and could spread the cards to different intermediaries in case some orders failed to go through successfully. However, the strategy was not profitable in the end because the intermediaries were not willing to tolerate card delays. In the end, one of the intermediary clients could not be reached, the card was blocked, and the seller had to cover a loss of €50,000. Unfortunately, due to liabilities, the seller was unable to repay in full. As with the first case study, the main takeaway is that paying a little more to a reliable, professional party is worth it, and markets are only truly good if there are trustworthy partners on all levels.
Real-Life Examples
In this chapter, we provide several real-life examples of success and failure that can be explained through the lens of risk management and compliance discussed in previous chapters. We hope these examples will help sellers analyze their own approach to different selling opportunity contexts as well as provide a clearer understanding of how the market behaves when buyers and sellers reach certain decisions. It is important to always keep in mind that as long as an opportunity does not involve any illegal or ethically disputable practices, it is important to describe sellers’ decisions as not advisable by default only for the potential gain they can bring. Should sellers decide to take what we consider "not advisable" routes, they should be aware of the risk they are running as well as the potential profits to be made should they succeed in their intent. All in all, examples of success and failure can be equally helpful for reflecting on our decisions and refining our seller practices.
Going through the theory is one thing. The other is listening to some real-life examples. Many sellers believe that the most effective demos are real-life examples, which motivate and help them to better understand market operations. The ten examples that we selected were chosen randomly from our practice. We are telling history in a non-chronological manner. We present five examples of failure and five examples of success. When reading the examples, try to answer what you would do if you were in the sellers’ (managers’) shoes. What would be your next steps in a specific context? Would you refuse to sell? What would you consider when making the decision? These questions are pieces of evidence that following guidelines presented in previous chapters will help you avoid some common errors.
Nine sections have provided sellers with an extensive guide to PSC gift card selling, covering regulations and industry-leading best practices, terminology, common pitfalls, and fraud strategies. Already the seller should understand the data presented in this guide and have already applied it to their selling strategy. Sellers should know a great deal more about the industry and current and upcoming issues, challenges, and opportunities. They should have a good general understanding of what regulations exist and are being considered, why they are important, and hopefully a good base to help them understand any new regulations or changes that may come. They should have a better understanding of what tactics and issues are important to a responsible sell policy. They should be able to identify strong and weak strategies and understand the best ways to minimize risks.
The seller should be more aware of opportunities to deliver a “Best of class” customer service. There are technical solutions that may make a lot of sense and are likely to be gained in the long term. The biggest takeaway from this guide is the importance of ongoing continual education of customers before, during, and after the sale. Finally, the seller will do a competitive analysis and indicate long-term challenges and opportunities that the industry is likely to face. Sellers who rely on educated guessing and “what they have always done” are taking a huge risk. The pace of change in this business has accelerated and even long-time market players are “not doing what they used to.” Markets change to meet current conditions and being caught unserious, unprepared, or out of date can be costly.
