Cheri Perry, Total Merchant Concepts CEO: “We are constantly looking to the future, asking great questions and continually instilling the core values within our team so we never lose sight of WHY we exist as a company”

Cheri Perry, CEO of Total Merchant Concepts, embarked on her entrepreneurial journey driven by a simple yet groundbreaking client request: connecting credit card processing to a cell phone. This innovative concept revealed the merchant services industry’s complexities and prevalent unscrupulous practices. Determined to address these challenges, Perry founded Total Merchant Concepts to offer transparent, reliable solutions for businesses looking to accept card payments. The company’s mission is to simplify the payment processing landscape, ensuring that business owners can efficiently manage cash flow and navigate evolving industry standards.

With a focus on integrity and customer-centric solutions, Total Merchant Concepts remains committed to transforming the payment experience for businesses of all sizes.

In conversation with Cheri Perry, CEO of Total Merchant Concepts

Q. How do you define effective leadership, and what leadership principles guide your daily operations at Total Merchant Concepts?

I have changed my leadership style and focus over the years. In the beginning, I had a command-and-control work style. It was effective and yielded great results—until it didn’t. Over time, I learned that the best leadership philosophy had two focuses. 1. Constantly working on and improving myself; and 2. Digging for and developing the leadership within each member of my team. Today, TMC is a core value-/vision-based company. We realize that our people are our most precious asset. Our guiding principles are found in our company’s core value acronym: SMILE: Superior Knowledge & Service, Meaningful Relationships, Integrity in All Things, Leaving a Legacy of Fun, and Exceptional Educational Experience. With these principles as our North Star, we can interact internally and externally in a manner that not only takes great care of clients, but we also take great care of each other!

Q. The credit card processing industry has seen significant changes over the years. How have you navigated these changes while staying true to your company’s core values?

While our industry has become a bit commoditized over the years, we find that smart business owners are still looking to work with people they know, like, and trust! As a team, we always focus on our core values and then ask the kinds of questions that help us deliver on our promises to our clients. Does this change have a positive impact on our clients? Is this product/service in alignment with our care values, and will it serve our clients well? What is the industry doing that we like? What is the industry doing that we do not like? We are constantly looking to the future, asking great questions, and continually instilling the core values within our team so we never lose sight of WHY we exist as a company.

Q. You’ve built strong alliances with financial institutions across the country. How do these partnerships contribute to your business success, and what do you look for in a potential partner?

Referrals are the lifeblood of our business, so the relationships we form with financial institutions and other entities are very important. The majority of credit card processing companies have heavy solicitation models (outbound calls and door-to-door salespeople). We are blessed by the network of companies that trust TMC to take great care of their clients, members, and customers. The first thing we look for when adding a new partner is core value alignment. When we find likeminded businesses, it is easy to band together to deliver an exceptional experience.

Q. What advice would you give to aspiring leaders in the financial services industry, particularly those interested in starting their own business?

I would advise aspiring leaders to enter this industry with the long game in mind. This is an industry that takes time to build. If their focus is not long-term, they could end up having to sell products and services that do not benefit their clients long-term—just to pay the bills—never a good trade. Building strong relationships and strong companies requires trust and a long-term strategy. Since people LOVE to work for companies that take care of their clients (and their teams), this long-term, core value mindset is mission-critical in my opinion.

Q. How do you market your services?

90% of our business is gained by repeat business or referrals. We do very little traditional marketing. We do enjoy seeing great reviews, and we like to be involved in a few industry conferences per year. We also believe strongly in Howard Partridge’s philosophy, that the #1 mistake businesses make is not marketing to their existing and prior client base.

Q. What does the future hold for your company and its customers? Are exciting things on the way?

The future for our company is bright. As one of the top 400 workplace cultures in America (Inc Magazine 2020, 2021, 2022), we are developing an amazing group of leaders. Their vision and drive to serve at the highest level are constantly making our product and service offerings better. Strengthening existing partnerships, developing new strategic alliances, and staying true to our SMILE values has us positioned to craft an amazing future!

About the leader behind the success of Total Merchant Concepts in her own words

Cheri Perry, CEO

I grew up in a family business and learned much of what I know from my parents. They took great care of their customers, and they took great care of their team. One of the most pivotal moments in my leadership journey happened as I was supporting a Ziglar Training event in Texas. Bob Beaudine was the speaker, and as he walked around the room, he paused at my table and asked a life-changing question: What are you doing with the people God gave you? I know he was saying it to everyone in the room, but I felt as if the question was specifically for me. Back then (2014), my answer was NOT ENOUGH. Today, it is my focusing question, and I am pleased to say that I am working to do the very best with the people (family, team members, clients, vendors, and referral partners) that God gives to me!

“I would advise aspiring leaders to enter this industry with the long game in mind.This is an industry that takes time to build.”