How to Manage Your Payment System – With Reed Switzer
Reed Switzer is an entrepreneur and rising product leader in the financial technology space. He left the Wharton School of Business to build Hopscotch, a B2B payments platform focused on helping small businesses succeed. Prior to Hopscotch, Reed served as Director of Operations at a music streaming startup led by the former CFO of Combs Enterprises.
This role helped hone his marketing, product, and operational skills; it also added to his firsthand experience managing vendor relationships and helped him to see critical gaps in the B2B payments market.
Episode highlights from Reed Switzer
- What’s Hopscotch all about?
- What feature Hopscotch added to make life easier and more flexible for agencies
- On centralization and branding
- How Hopscotch keeps them coming back
- How Financing Works in Hopscotch
- What are some basics to help new agencies keep on top of payments?
Lightning Round with Reed Switzer
- Best advice: Everything’s temporary
- A habit that contributes to success: Being calm
- Recommended tool: Superpath community for agencies
- Recommended books: Rise and Kill First by Ronen Bergman
Resources, plus connect with Reed Switzer
Quotes from Reed Switzer’s Episode
- “That’s starting to change–and that’s great.”
- “You want to make sure you’re thoughtful about the touchpoint and really putting your best foot forward.”
- “Above all, it means making payments intuitive.”
- “You get to chose if you’re going to eat the fee or they’re going to eat the fee.”
- “B2B payments are not sexy.”
- “It’s really as easy as sending an invoice.”
- “We’re not going to be broadcasting agency transactions.” 😉
- “People mail in checks! OMG, this is 2023.”
Takeaways from Reed Switzer’s episode
- Think about how you could become a destination rather than a simple product
- Make sure you’re putting enough into the payments side of your business–there are a ton of great options
Sponsors For The Digital Agency Show
Ready for a managed hosting provider that is going to get your clients the performance, reliability, and support you need? Get started with Cloudways today with a $50 hosting credit using code “DASCW”.
Outsourcing services for digital agencies–website design & development, e-commerce, SEO, content marketing, link building – E2M.