For you doing podcasts like mine. Welcome to CEO School. It was not the plan to keep it fat merchant. Overall payment industry in the United States is your business to type over All business was down 40% in transactional volume declined when the industry was down. You never know what could become a potential new partnership or opportunity.". And so I’m just I’m just doing our run rate here. through a series of email drip campaigns, right? We use all kinds of landing pages, we have blogs, SEO optimization, I mean, the entire social. Suneera Madhani 30:47 And so I can just get stripe. Say my name. Suneera Madhani is the Founder and CEO of Fattmerchant. see the example that I gave was, yeah, call them up and they say, Oh, yeah, of course we’ve got to lower right right. Founded in 2002, HostGator is the perfect web partner for business owners and individuals seeking hands-on support. And that is a necessity for businesses. And so there’s what I’m trying to say is that there’s business owners now need to take payments in a multitude of ways. Details. And I got a little bit of money from friends and family and it was like, here you go. Suneera Madhani 49:41 Suneera Madhani is the founder of Fattmerchant, subscription-style merchant services. I just thought this was like a, I wanted to solve a problem. "With our continued mission to … Like why isn’t anybody doing a subscription and payments? And you were. Suneera Madhani 46:23 I’m talking about I mean, they’re making anywhere from one to 3% off of these transactions. ; Wonderful Weddings; Women to Watch; and much more! So I was working for a processor, as I told you, and I can’t disclose the name of the processor. Andrew Warner 35:51 A interesting side note, I get a lot of requests from female listeners who want me to feature more women and it’s on me, I need to keep doing a better job of getting more women entrepreneurs here. Yeah, I can’t share a ballpark. Andrew Warner 6:03 Andrew Warner 27:15 It’s definitely It was a lot tighter to just start a company. And so I put together probably the best business plan I obviously I have ever come up with because it’s very successful now. Yeah, so exactly that way so we went online and through digital acquisition of our customer. There was a decline of actually it was 70% decline in transactional volume across our industry and shut down less. We recently interviewed FattMerchant’s CEO Suneera Madhani on our podcast (ranked # 1 on this list).They are truly a disruptive company that has done a fantastic job! Say hi. The Orlando, Fla., company provides technology to merchants on a subscription basis, using a Netflix-style model instead of traditional billing practices from most merchant acquirers. I was my last choice. As an undergraduate, Asma … You know, it was available on you know, GoDaddy and ended up buying the domain, thinking that I’m going to change it later. This is 1014. She and Rozmin Ladha, a practicing attorney, and Asma's sister-in-law talked about a new watch concept. He brought him on, he answered all their questions, and he and he showed his animals and he was so good. No, I mean, there’s there’s not I had I definitely had, I had to find my way is like what I can like, I’m sorry, I’m not feeling I’m not giving you what you’re looking for right now here in those details. She also engages women through the Regional Occupational Program, which provides low-income families with educational skills to secure employment. And the words I started writing these words on the whiteboard, and it was fast, came out affordable came out transaction technology, so it’s actually an acronym, but it was just oh, we should call ourselves fat merchant. Suneera Madhani, a mom of two, founded Fattmerchant—aka the "Netflix of credit card processing." So we are definitely just naturally type a high performers and the company that we’re like, we’re just goal, you know, we’d like to crush our goals. Age 53 (407) 567-9430. But I put together this amazing plan. And I would tell them, like put our solution Next, you don’t have to change your solution. because stripe will only do credit card processing. And when I started the business, when I started in payments, I would say in the 2010 2010 2011, it was like 60%, of 50 to 60% was credit card transactions and the rest was cash. We have 110 people at the company but I’d love to say hi to the audience. From innovation to entering a field eons old, they found their niche and a way to be successful. She became renowned in Asian communities for her threading technique to shape eyebrows and remove facial hair. Over the past few decades, brands have begun to get a voice. And not only not for money, like literally to understand what their pain points were and how we can make it better. Now he’s got a little side hustle that he can keep on running even after the zoo opens up after COVID lockdown. Oh yeah. How Zee Ali went from selling cigarettes in the hood of Chicago to selling... LeadPages founder on why you should be embarrassed by your first launch. She realized the potential for this unique market niche.An Orlando-based company, Fattmerchant, enables small business owners to help improve their overall payments experience. He actually allowed me to bring some my kids friends on and he answered all their questions. All right, I’ll close on. In partnership with Citi, the YEC recently launched #StartupLab, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses via live video chats, an expert content library and email lessons. 20 plus million comes to you. Suneera Madhani 39:10 Andrew Warner 34:41 December then January because they get a cut of sales for you. In the past century, brands were largely defined by their trademarks: their logos, mascots and color schemes. So the products good, we’re able to demo the platform, it’s like super quick to understand we see them a shit ton of money and consolidate all the tools that they’re using. So I’m not like usually talking about necessarily the details of fat merchant in the company. Andrew Warner 36:11 me a sense of how big you are. And that’s what you want to do. I know he showed it to his mom because his mom came on the website and kind of added her name to the mailing list. Andrew Warner 42:25 We’re usually picking up all the crap that they like, they had a bad experience. ClickFunnels – Anyone in my audience who goes to clickfunnels.com/mixergy will get a couple of things that I’m excited about. And so we’re like, let’s just make that the LLC. And that is that is how we probably got our first 100 customers was through those competition wins meeting people through networking, literally going door to door, signing up my like, uncle and dad and his friend and all like our neighbors. And even if there was no. Number one is a free trial so you can actually try it and use it. Yeah, well 12 other people who fill in a form now who just hit the page the way they did the second, they fill in a form percent of them by and part of it is that you get them on a call that fast. She finally realized she had to go build it herself. And then they were going to take some magical fees and I couldn’t figure out what it was then I hired somebody finance person went through all the all the documentation to help me understand it. I got shot down every single time until I was pretty much left with being my last resort. And honestly, it’s our culture as well. 00:18:29; In this week's Wine Down Wednesday, you'll hear Suneera's commencement speech to the class of 2020 at The University of Central Florida. And usually when I’m on a podcast, it’s really around my entrepreneurial story, usually around how we’ve been able to be successful. So I kind of had it from a different lens. Within their product line, the greatest success has been Apple wrist bands which are conveniently available on their website and on Amazon. He showed it to his mom. Andrew Warner 38:16 And we usually get a customer fully up and running and I, you know, matter of St. Suneera Madhani 40:07 But from an early age, she had been exposed to her family's watch business, in existence since the 1960s. Have a better time. Right? Age 33 (321) 947-0075. And, Andrew Warner 39:05 Right you then you had this business up and running. We look at these entrepreneurs who all started at a young age, from retail fashion accessories to merchant services, cosmetology, and hairdressing. That’s really difficult for. It also supports online businesses with shopping cart capabilities. So there’s a lot of regulation, there’s a lot of things that go into starting a financial services company, as well as like from a regulatory compliance standpoint, running housing transactions, I had to get a sponsor bank, I had to get Visa, MasterCard card approval. But I took this back to them and said, Hey, you know, I think this is going to be a fantastic go to market angle. Suneera Madhani 31:22 And then I have to tell you, if you’re not a woman, she’s freaking inspiring to this a woman who’s taking on merchant processing. The Institute of Ismaili Studies was established in 1977 with the object of promoting scholarship... Asma Heerji Bhai and Rozmin Ladha with a selection of their watch designs. Am I right? "We grew up in a very entrepreneurial family," Madhani said. It’s because everybody has high margins that they’re just gouging customers on. Why do you need the two T’s? So give me just a flavor of what’s involved in creating a merchant merchant processing company. He’s got a podcast called Traffic Secrets where he breaks down the secrets that he has learned as somebody who’s grown his business over 100 million dollars in sales and also help businesses like mine, get more traffic and convert that traffic into customers. She began working from her apartment where her clients used to crowd her entrance, so she rented a spot at a salon to serve clients. Well, I want to get into your sales process in a moment, because I think the first sales are just as innovative and interesting or interesting to me as the latter are. I mean, he was a serial entrepreneur, and I’ve went to 10 different schools in 12 years. So I wasn’t trying to be the, like, it wasn’t coming at it from this venture back. to go into it. Stay updated with latest from the.ismaili, This is the official website of the Ismaili Muslim Community. started pitching it to who from what I understand visa was one of the first partners Is that right? Yeah, it was a it was a hybrid. AGE: 36 TITLE: Managing director and head of market structure strategy for the global markets division COMPANY: Goldman Sachs The full list of 2020 honorees (in alphabetical order): on every every hundred dollars that I charge, in addition to what I’m paying Visa or MasterCard or I guess, Chase, I should say bank through Visa, MasterCard, in addition to that, they’re also getting $1 to $3 in my sales. And so. And this is pre subscription economy. Let me take a moment talk about my first sponsor, then we’ll get back into the story. “In response, many merchants are looking to provide a simple shopping experience to their customers. It’s fat merchant. A wide range of options includes cloud-based web hosting, reseller hosting, VPS hosting and dedicated servers. “She is dynamic and a charismatic woman,” D’Uva said. Age 31 (321) 947-0077. why’d you call a fat merchant? You know, the other day I had my kids asking me questions about insects that I didn’t know the answers to. What happened? Title. I’m going to go out to do it. Look at his podcast number 15. That’s the future of where you’re. Mashani Mohamed Al, age 39, Lafayette, LA 70504 Background Check Known Locations: Saint Charles MO 63303, Saint Louis MO 63106 Possible Relatives: Makeeba Tannyse Cotton, Marwan T Hobson Salim S Almashani, age 52, Washington, DC 20008 Background Check Suneera Madhani 36:46 As a visionary leader, Suneera revolutionized the payments landscape. During my years in the payment technology industry, I’ve noticed that business owners don’t really evaluate their solutions on a And so I ended up remember that business plan that I was telling you about, I ended up putting this business plan into a business plan competition, it was actually the National Association of women business owners now that was like a big chapter. And that I think my first place chakra was 70 $500. Yes, the percentage of contact usage today, it was like less than 3% like of all card transactions or contact list. My name is Andrew Warner. It was a necessity. Because Andrew, I was 26 years old, I had no money in my bank account, I had never started a company, I told you, I was super risk averse. You were starting to say that you entered business business competitions. Yeah. Okay. And I want to thank my two sponsors. The market was consumed by huge, monolithic companies whose logos were synonymous with their products. One day, she noticed a rental site available. Madhani was recognized last year as one of PaymentsSource’s Most Influential Women in Payments. Andrew Warner 18:33 Andrew Warner 4:09 Yeah. So your audience a code, and let me see how like how it’s gonna convert. And the second is a podcast that I’m going to urge you to listen. So I think it’s really there’s a whole thing that we talked about this for another hour in terms of growth strategies, but one we’re just a high performing team. you just use whatever software they want whatever shopping cart they want. Suneera Madhani 39:36 It’s just looks like a dummy operation. There’s no system now they’re. dot com slash mixergy. Andrew Warner 9:14 From innovation to entering a field eons old, they found their niche and a way to be successful. The market was consumed by huge, monolithic companies whose logos were synonymous with their products. paypal.me service where I go to paypal.me slash my name and people, I could send it to people by text, and then they could use that to send me money. Andrew Warner 46:45 And I was like, great, I not only that, I got to get up, I got money for the company. "I'm very excited to work with the talented board we've assembled," said Jim Douglass, Venture Atlanta 2021 chairman and partner at Fulcrum Equity Partners. We’re your hosts Suneera Madhani and Shannan Monson, and each week you’ll learn from incredible mentors who’ve made it to the 2% club as well as women well on their way. Let me know and if it doesn’t work for you, I want to hear about that too. You got to pay the card brand fees. is even growing every month, Suneera Madhani 43:27 It’s so easy to understand. Absolutely. That’s what’s that’s what’s so crazy about the industry is that it was and I would say it’s getting better now, but this is in the 2000 10s of early 2010. So from a even from, like most of our customers are not new net new customers like net new businesses. So the entire digital suite is how we use to then bring customers directly to our website, and then convert them through our funnels, essentially, through different workflows. And we have an inside sales team that we have, like, our hundred and 10 employees are all in Orlando, but everybody, it’s all digital commerce. Yeah, money. Suneera has won several awards, including Payment Source's 2018 Most Influential Women in Payments, the 2017 Women World Award, the 2016 Women Who Mean Business Owner of the Year, and the Orlando Business Journal Award for Innovations and Technology, to name a few. I was I was like obsessed with every subscription that I could get my hands on. I’m the founder of mixergy, where I interview entrepreneurs who are ambitious for an audience of entrepreneurs who are also ambitious, who want to do things, you want to build things, you want to leave a mark on the world. So that was the plan. Andrew Warner 41:45 Andrew Warner 23:38 So something that changed for us in two years ago, I was really protective of and this is for any founder out there listening. Since its inception, Fattmerchant has handled $1 billion in transactions.