Breaking the Mold Feat: Chase Harmer

Dustin Steffey: 0:00

Hello chop nation Dustin Steffey here our partner over at Inferno performance has some great things going on. Currently Inferno performance is your number one destination for the most exclusive personal training in the world period. What you guys may not have known as Inferno is also a one stop shop for all of your apparel, supplements, training and meal prep needs. Currently right now on the supplement side, they're running a package sale for $100. You can get pre workout, recovery protein, and a multivitamin or if you want to step it up and step your game up, let's go to the $200 package where you get the pre workout recovery reds, greens, multivitamin, fat burner, digestive enzymes and protein please head on over to Inferno dot fit that's WWW.Inferno.fit and support my boy Dontay Moch over there with all of your training and supplement needs.

Jaden Norvell: 1:00

Over 10,000 and counting total episode downloads in over $5,000 raised for charity in our first six months nominated for the 2022 People's Choice Awards in LA and our current finalist for those awards under the category of Best Business Podcast. This is your one stop shop for all talk on entrepreneurship and self development in making smart investments hosted by yours truly Jaden rush Norville, also hosted and founded by Dr. Dustin Steffey without further ado, ladies and gentlemen, welcome to chopping with fire, chopping up.

Dustin Steffey: 1:38

Hello and welcome to an episode of chopping with fire. You're joined with your host, Dustin Steffey, Jaden is on a temporary leave today while he is in class and coaching. So you're stuck with me. But with that being said, we are still going to have fun, so I wouldn't worry too much about it. That leads me to my next topic, which would be some housekeeping items. So first and foremost, we have our live event that is going to be in Fort Collins, Colorado on November 18 at 5pm Again, that is November 18. At 5pm. Please mark your calendars for that day venue is to be determined. We should be getting an answer back this week, which means you all will have an answer on our social media. Which speaking of social media, if you have not followed us yet already, please head on over use your fingers type in www dot whatever your favorite social media is.com Because chopping with fire is on all social media platforms. Just search up chopping with fire that is CHOPPIN with fire, and you should be able to find us. If all else fails, we do have our website please head on over to www.choppingwithfire.com again CHOPPINwithfire.com where houses our videos, our episodes, all of the wonderful guests and experts we have had on with their links, their bios their descriptions. It's really an awesome resource for all of my listeners and entrepreneurs that want to reach out and that relate with one of the speakers that we have had on so again, if you haven't done so already, please join us on our social media for updates and head over to our website for even more updates. Patreon. We have our Patreon up and running right now we have two after hours in the books with a third one coming. Our Patreon is used for premium content, unedited, uncut and uncensored so it will be fun just getting to know Jaden and I behind the scenes. Our Patreon again is@www.patreon.com forward slash chopping with fire CHOPPIN with fire. All proceeds from our Patreon goes to cystic fibrosis and the Boys and Girls Club. So please if you guys haven't done so already, join as a Patreon today. We're adding content weekly and our podcast school is about to launch on there. So I'm excited to help other fellow entrepreneurs get started in their podcast journey. Lastly, our charities cystic fibrosis please if you haven't done so already head on over to www dot c f f dot o RG forward slash donate because Jaden and I really like giving back to cystic fibrosis. It's near and dear to his in my heart because Chadians mom has cystic fibrosis. Again, this is a disease that does not disc emanate, there is no cure for it and all monies and proceeds go to trying to find research for better drugs to help people with cystic fibrosis live a better life. So any denomination, please would be super helpful if it's 50 cents if it's $1, it does not matter, it's up 50 cents or $1 well spent on a good cause. So again, if you haven't done so already, that is www.cff.com, forward slash donate, I want to thank my listeners because as of right now they've clocked about $5,000 in raised money for the Cystic Fibrosis Foundation. That is an amazing feat. I know in our live event, we're gonna raise quite a bit more so I am excited for the live I'm excited to see my listeners in person and more importantly, I'm excited to make a difference. So please head on over today to donate. Now for the fun. That's all the housekeeping I want to just dive right into it. I have an awesome expert speaker today. He is name his name is Chase Harmer. He has built portfolios, processing billions and hustled his way into building profit pay, which is the current company that he owns right now launching $100 million raise in a video sales funnel. Chase has spent most of his time with digital merchants build an innovative technology in FinTech, for entrepreneurs and businesses. He also helps to solve problems that global entrepreneurs face, like cross border foreign exchange fees, global ads, and getting real time insight from ad spend data. Chase is also the founder of the nonprofit founder Incorporated, that helps aspiring entrepreneurs. So with that long bucket list for him, he is definitely the perfect guest for us. I'm excited to introduce him. And it is all his right now. Chase, how are you?

Chase Harmer: 7:07

I'm great. Thanks for having me. Excited to be here.

Dustin Steffey: 7:09

Thanks for coming on, buddy. You have a definite resume. That is amazing. So I'm excited to dive right into it.

Chase Harmer: 7:17

Yeah, no, me too. I'm ready. Ready, when you are?

Dustin Steffey: 7:20

Perfect. Let's start out with getting to know the audience and having them get to know you a little bit. Tell me Tell me a little bit about yourself, buddy.

Chase Harmer: 7:27

Sure. So I started my entrepreneurial journey. When I was 19, I got a full track scholarship to Cal Poly. But I dropped out and started started in the credit card business when I was 19 years old, basically was just knocking on doors and started building a portfolio. You know, by the time I was 23, we started to be an actual acquire and started building a real big book of business and turn that into turn that into a multimillion dollar business. And, you know, in 2014, we started building technology, I had no tech experience. So that was scary, but started that journey anyways and now raise raise millions of dollars to build out what is today profit pay. And you know, from that also built a nonprofit that kind of works together and is in alignment with profit pay as we help round up for charities online for different ecommerce stores and in marketplaces. So, you know, it's been a long journey, somewhat painful, but you know, I'd say the journey. Everyone says the journey is beautiful, the journey actually sucks. But, you know, you have to go through it anyway. So

Dustin Steffey: 8:45

you, you would love Gary Gaiman. We had him on a couple, a couple episodes ago, he, he was very real and transparent on the journey. And he said, It's shared, but you have to own the shit.

Chase Harmer: 8:57

Yeah, you know, it's the toughest time because, you know, a lot of times you just second guess yourself and you you're like, you know, it'd been easier to be like a garbage man and go down this path. You know, but that's what it's like, you know, the entrepreneurial journey is tough. You know, and it's a lonely one. Because, you know, not a lot of people, most people will work for somebody else. And, you know, you see your friends, they're doing okay, they got stable jobs, and yours is very, you know, inconsistent. You're trying to grow something you don't you know, and you don't make money for a while. So, you know, there is that second guessing factor. But, you know, at the end of the day, if you have heart and you have the will to succeed and you have a good idea. Anything's possible. A

Dustin Steffey: 9:38

couple of things that came up that like I wanted to bring to your attention, you started at 19 years old, you got into college, and then you decided, not for me, I'm gonna just go ahead and just do my thing and make it work. I want to applaud you for that because I've said it a million times on this podcast, and I'm gonna say it again. A lot of the successful entrepreneurs, so the ones that I look up to so like Steve Jobs, couple others, right? They went to college, but then they dropped out because they saw something else. And they made success out of what they saw. So, I mean, again, just for my listeners, you don't have to go to college to find success. But like Che said, and I am going to reiterate it over and over again, the entrepreneurial journey is lonely, it's rough, you definitely get shit on you definitely watch your friends. Go through some changes. I mean, you watch stability versus second guessing ourself, obviously, but at the end of the day, if you can find success and being an entrepreneur, you will find that success and you will find it tenfold.

Chase Harmer: 10:50

Yeah, I mean, I think the the key is to stick a stick along, stick around, like long enough to see the results. Most entrepreneurs, I mean, so over 9 million businesses start on an annual basis. And you know, over 80% of them fail in the first year 90%, after year two, and that's mainly because most entrepreneurs give up before it's too before too soon, right? And they have that old analogy, you know, the guy that bought this gold, he bought this plot of land, and he was digging for gold. And then he gave up and then someone else bought the land and then started digging in the same spot and started struggle, big insight, because people don't see the results fast enough. So they give up and but you know, that's just the American way. Right? We want everything right now. And we don't get it right now we give up.

Dustin Steffey: 11:45

Yeah, we're in a culture these days of instant gratification, right. And when we don't get that instant gratification, we kind of keel over in a sense, right? But I agree with you, if you keep pushing and keep pushing through it and get numbers behind you and kind of assess after each of the years, right? You're right year one is rough, a lot of businesses fail in year one, year two, but year three, is usually where you want to make it to really assess and then go from there, in my opinion. Well, it's always an

Chase Harmer: 12:18

evolution to right, so your first idea and what you start with, that'll usually change, you know, as you go forward, so like, you know, whatever your ideas, your conception of what you're building, right now, if you're building something, it typically will change and modify. And, you know, because the world changes, you know, so if you're still stuck on an idea, and you're like, we have to do it this way, you know, the reality is, it's going to be tough to be successful, because everyone's changing in the future is always you know, it's unpredictable. So you can't stick with an idea forever. If it's, you know, you don't be so. So in love with an idea that you can't change. You know,

Dustin Steffey: 12:57

it's funny, you bring up evolution, because when I was going to school, and even now, I'm watching these businesses flop, even during COVID, they flopped as well, too. And I mean, granted, it was a pandemic. But during a pandemic, it's the best time to evolve a business and see what the business is made of. So a lot of businesses that succeeded, evolve, their culture evolved, everything that they did for doing business went remote, whatever the case may be. So really, in entrepreneurship, it's about changing with the ever changing environment. I mean, my cell phones a great example, I can't keep a cell phone more than maybe two years. Because after two years, the technology is tripled. And it's obsolete after month, six. So two years is kind of a long time to keep a phone. That's why they have people upgrading phones every year.

Chase Harmer: 13:52

Sure, sure. I mean, Technology is always changing. I mean, at the end of the day, if you have a retail business, you have to have some game plan for online because you know, that's the future of just everything in general. It's like shopping and you know, transactional businesses, this gotta you gotta have some sort of online strategy.

Dustin Steffey: 14:13

Question for you with respect to strategy in kind of the ever changing environment. You know how to make money. You're obviously good at it. You know, a lot about currency and stuff. How much how much have you dove into like, currency like fiat currency versus crypto and all of that. And do you dabble in that at all? And if so, is that is that helpful for like your business right now? Are you still trying to kind of get your feet wet? Like Tell me a little bit?

Chase Harmer: 14:44

Yeah, no, no, I mean, I started buying crypto a long time ago, so I have significant crypto holdings. I do believe that that's the future, but it's kind of like a hybrid car. So you don't realize like, how much your hybrid car like When you're driving from Cal, San Jose, California to like Reno and there's only one supercharger in between, you realize it's like, it's not it's not primetime. Right? It's not primetime. It's not right now, you know, it's like five years, it'll be real mainstream. People that are typically buying crypto right now are investors. And they're, they're doing it to have some holdings. Because at the end of the day, like most ecommerce stores, most businesses are not taking it as a form of payment. You know, the reality is, is that, like, it was hard to actually transact with it, because you'd have to exchange it, and you don't have to go spend it. So, you know, I don't think it's right now, I definitely believe it's the future. So having Holdings is definitely a good thing. You know, if you're in the right ones, but I but I do believe it's, it's more like five years from now, like, work be mainstream, as to today, you know.

Dustin Steffey: 15:56

And financial disclaimer, guys, Chase and I are not financial advisors. This is strictly just us talking advice, and kind of where we see everything with the chips laid in front of us right now. So again, we're not accountants, we're not financial analysts, we're just two people having a conversation,

Chase Harmer: 16:17

what you do see, you do see that a lot of so like NF TS just for this example. Right? So like NF T's came out, you had to buy it with what it was.

Dustin Steffey: 16:32

Forget you buy it with like your theory and my theory,

Chase Harmer: 16:34

right? Yeah, my theory, right. But now you can actually buy it with a credit card. So MasterCard came out and they said, Hey, we're on board with this, right? So, you know, the card companies. And you know, the world in general is becoming more like in line alignment with you know, cryptocurrency, NF, t's all these things, right? So, you know, you are seeing that the world is changing, and they're being like, hey, more receptive to it. And, you know, if you look at like, you know, Jamie Dimon with Jamie Dimon from JP Morgan, right? He came out like a while ago, he's like, crypto is not the future, blah, blah, blah. Now, what are they doing? They built like their own like cryptocurrency, right? For, you know, Chase Bank. So it's like, they, they, it's like, they wanted to shut it down and demean it, because they weren't ready for it yet. So, but now, they're come out with their own stuff. So that just shows you that, you know, it is it is going to become a thing. You know, and it is going to become more mainstream.

Dustin Steffey: 17:40

I think when we look at the banks, and we look at everything, I think they are nervous about people doing cryptocurrency and stuff, because the banks make money on us putting our money in their institution, right. And then they can day trade it, whatever the case may be, and make a profit off of the money that we put in. Whereas if we are in charge of our own finances, and that's kind of where crypto is kind of big, when you start wrapping your head around it, we can start making that money ourselves off of that money, essentially, again, it's not mainstream yet, like you said, but for the people that are invested in it, which you and I are invested in certain things, I am starting to see that I can make my money work for me, if I do it, right. But that's taken me four years of research and lots and lots of time to be able to understand it. Yeah, and

Chase Harmer: 18:37

it was complicated to sell before, you know, it's like, you know, to make a transaction, you had to put it into an exchange, you had to I mean, so it was like it was when it first came out, it was really difficult to do it. So in order to navigate that landscape, you really did have to do a lot of research. And it's becoming easier and easier and easier. And there's platforms that are coming out that really kind of are geared towards making it easier for the normal consumer to make it transactional. So like URC will become mainstream you'll ever see most ecommerce sites are going to be taking it, you know, in short order, but it's just not there yet. It's more of an investment tool. You know, at this point, you know, people aren't doing it to spend money with it. People are doing it to have a hole they have holdings, you know,

Dustin Steffey: 19:26

yeah, the only reason I'm doing it right now before it becomes mainstream is if I can make money off of it and create some generational wealth and then when it becomes mainstream, be ahead of the game. That would be my ideal goal. Again, we're not going to make this talk about cryptocurrency. I just wanted your thoughts and feelings on it. You are a professional buddy. So it's always fun to see what your input is.

Chase Harmer: 19:51

Ya know, it's the future for sure. It'll definitely become more mainstream, faster than we know.

Dustin Steffey: 19:58

So let's go into something then that is mainstream right now let's talk about your business. Let's talk about what you do. And let's kind of talk about your journey in creating it and how it benefits others right now.

Chase Harmer: 20:13

Sure. I mean, so you know, being in the payments, acquiring space processing credit cards, it's like a commodity sized business. So lots of credit card processors out there, if you have an e commerce Store, you know, if you're building something, and you have a commodity product, like you're selling light bulbs, right, that's what I can compare credit card processing to, it's like selling light bulbs, right? There's lots of light bulbs, there's people out there selling it for lower prices, then you might be selling it. So when you have a product like that, you need to add more value, right. So the only way to actually make more money without selling it for nothing, because it's a Race to Zero is to start building value. And in 2014, you know, I realized that I had a hotel association was 28, I got this hotel Association, I'm traveling around the country for about eight years, and built up a gigantic portfolio, but every single year, they were calling me having to lower their rates, right. So like, every single year, even though I was adding more and more clients, I was actually making, like the same amount of money, you know, because I was having to lower all the costs. So, you know, I built a product to add value to the hotels. But when I did that, I, I wanted, I realized that I wanted to become like the whole economy of a transaction. And what I mean by that is, when you process credit, every sale was a purchase before that, right? So every sale, whether that's online, or retail was a purchase, before that there were suppliers that supply that product, so the E commerce business, or that retailer had to buy it from someone else in order to resell that product, right. So I wanted to actually be the whole supply chain of the transaction. And I started doing payment acquiring. And then I did payment card issuing. So we started issuing credit cards, to pay suppliers, and kind of like B that whole value chain. And that process was very long, very painful, made a ton of mistakes, raise a lot of money, built a gigantic team, all things that I never done before, right? I was a one two man shop, raise a shitload of money, then had like, you know, close to 200 employees, you know, managing teams managing different personalities. You know, it was I look back on the journey, and it was it was all new. Right? So, you know, every step that I took, a lot of them weren't the right ones. But when you're in that process, you got to figure it out. And so, you know, I did figure it out. But, you know, there was a lot of mistakes, there was a lot of right turns, and at the end of the day, when you make a mistake, you know, I think the most important thing is to correct it, don't sit there and be like, Okay, this was the right move, we got to keep moving forward with this, like, it's just like, okay, like, okay, you know, this is the way we gotta go. And in changing directions, you can't change directions a million times, because if you do, you'll never make progress in products that you're building will go unfinished. So it's like, you know, you have when you have mistakes made, be quick about making them right, and then keep on going until you've finished product, I think the biggest thing that I've learned in that process was to finish, right, because a lot of times you have new shiny objects that you come into, you see, like, Okay, this would make the product better, this would be great to have. And when you do that you change directions, a lot of times you have unfinished it in, you know, if you don't finish the core stuff, then the rest of the product sucks, right? So you really just have to finish projects, and then move on to the next instead of just changing direction and continue like to try to build new things, to finish things and actually go on to the next afterwards. So that was like, the biggest thing that I probably learned from that whole experience.

Dustin Steffey: 24:17

So so far, you've given us two key nuggets, one would be evolution is inevitable. So keep going. And then the second one is when you make a mistake, get up from it, correct it as best as you can and keep going. So far is what what what are you hearing?

Chase Harmer: 24:37

Sure, that and to finish things one at a time, don't continue to move on to projects and leave things unfinished, you know, because there's a lots of new shiny objects that come along and you're like, well, this can make the product better this could make we can get more people with this thing. You know, but there's always this thing, right? So if you don't finish the things that are really your core business that are gonna make you money, then the new things will never get you there.

Dustin Steffey: 25:06

Yep, I agree. I, I fall trap sometimes to I need the latest and greatest and nicest newest and shiniest thing. But I'm, there are other times where it's like, I don't need that I have what I have is good enough. And I just need to kind of stay the course.

Chase Harmer: 25:23

Yeah, I mean, people aren't, you know, clients will use your product because it solves a problem. And if you can't do that, well, then they'll never all the other things won't, won't keep them there. You know,

Dustin Steffey: 25:36

it all goes to credibility, almost, you're building your credibility, and you're on a stage as an entrepreneur 100% of the time 24/7. So you have to continue to build that credibility and one small move, that hurts, it could hurt the whole business. It's true. It's true. So I'm a Marketing buff, I have a degrees in management and marketing, I have my doctorate, but I have degrees specifically in management and marketing. One thing that caught my eye with you, is you deal with digital ad spend campaigns. And I kind of wanted to dive into that a little bit on what what you deal with? What, where are these campaigns? Are they like on Facebook and other things? And like, what do you what do you do to help your clients with that?

Chase Harmer: 26:29

Yeah, so I think a lot of entrepreneurs, they don't have commercial cards to make purchases. So they're using their own bank cards. So you know, we essentially have a commercial card ban, so our clients can make up to 2% on all their ad spend on the minute. Not only that, you know, there's there's problems with Facebook. So if you're running multiple campaigns, and you have to be so like, let's say that you're an agency, and you're running multiple campaigns, you will told me that in order for you to fix that campaign, you have to be the guy on that card, right. So if you have, you know, in most clients want to use their own card, right, so if they're using their own card, then they have to be the one to fix that campaign, if it gets if there's something wrong with it, right. So essentially, when you when you issue cards with our been, you can actually have your ad manager be on the card. You so it could be John Doe car, you know, whoever that person is, so they can actually manage that campaign, and fix that campaign if something's broken with that. So you never have campaigns that get stuck, because campaigns will get stuck on Facebook and equitably if you're running enough traffic, and you're doing enough if you have enough campaign. So I think the biggest things that we solve is, that's one of the biggest problems plus unlimited cash back on adspend, which, you know, even cards, if you have a 2% card, you know, all cards have a cap on the amount of cashback that they'll give back. So if you're spending, you know, if you have a big budget, you'll never make cash back over like 150 grand typically, you know, so, you know,

Dustin Steffey: 28:12

you read on but another good point. And we might have to rewind, so when you were 19 year old you so businesses, entrepreneurs that are just getting started, and I even fell into this boat, too. They don't have business credit, they don't have anything established. So how would one go about establishing their business, to be able to get the credit and to be able to get the card and to be able to even be with you in a sense to kind of be successful?

Chase Harmer: 28:45

Sure. Well, these typically, like we started out with these aren't like credit lines per se. So you would actually connect, you know, your bank account or your debit card, and you'd fund the card that way. So, you know, on your debit card, you don't make any cash back. But when you're funding these prepaid cards or credit cards, you're actually being able to earn 2% on all that spend, whereas today, you you can't do that because you're using a bank card. So also, there's opportunities for us to report on that. So you can actually build your credit at the same time

Dustin Steffey: 29:20

are they building it based off of a Dun and Bradstreet number they build it based off of like their own personal credit is the question

Chase Harmer: 29:27

their own personal their own personal credit? Yeah. So if they don't if they don't have I mean, you're talking about personal right, so there's an option for them to build their credit that way if they want to. Typically we don't report to guns on that. Yeah.

Dustin Steffey: 29:45

Because most businesses that I know especially big businesses, so like my business is a S corporation right and I don't I don't know what yours is branded as but I have a DUNS number, but the problem is building it.

Chase Harmer: 29:58

Yeah, I mean, that's not What Our specialty is, but there's firms out there that you can partner with that actually will help build those those dun numbers. And then what they'll do is they'll apply for a bunch of credit lines, actually, you know, there's a lot of businesses out there that will allow you to build issue credit lines, if you have a DUNS number, and you can build your DUNS number that way, by just paying those back and actually being a good, a good, trustworthy credit risk. So there's a lot like even like, even if you got a gas card with your DUNS number, like arco will give you a line. So we'll shell all this up. So as long as you and they'll give you like $5,000 on a line, at least initially, even with nothing, right? So you can actually, you know, start building your credit that way, on your DUNS credit that way, too.

Dustin Steffey: 30:55

This is this good information. I know you deal with the personal side, but it's good for our entrepreneurs to know. Um, so if people wanted to get a card with you, what's the process look like?

Chase Harmer: 31:07

I mean, you would just sign up on our website, profit pay.com. And then you can you go through the, we'll get some general information from you. You know, we also do payment processing. So you know, we can kind of flip the script and do both sides of it. If you have an e commerce Store, or retail store, you know, we'll, you know, do the processing. And then once you're approved for that, which is more of an activation process and approval, we pretty pretty much can approve almost anyone as long as you have a legit operation. And then we can qualify you for card issuing after that.

Dustin Steffey: 31:46

I think it's really cool what you offer, because when I look at businesses, most businesses 70% of their spend is in marketing and advertising to get their product or service out there.

Chase Harmer: 31:58

Sure. I mean, that's what we see, too. And that's where we saw the opportunity to kind of come in and help entrepreneurs in that way.

Dustin Steffey: 32:08

So this goes into your strategy of making money on your money. Is there any other strategies that you implement on making money on money that you already have?

Chase Harmer: 32:18

Um, that's a good question. We also have a lending sign, you know, but that's more for a we do inventory financing. So like, you know, you'd be having to carry a lot of inventory for us to do that. Typically, the loan size is 2 million to like 50 million. And if you're getting a loan for 2 million, that means you have a significant amount of inventory, either at Amazon or warehouse. So if you're an e commerce Store, and you know you're looking, because Amazon typically doesn't find it, they won't fund you on your sales for like 30 days. So imagine if you're a huge store, and you're selling tons of product, and you're not getting, you know, your sales back for 30 days, that's pretty painful, right? So there's opportunity there, but it's more for bigger ecommerce stores that are doing significant volume. You know, if you're, if you have significant inventory, then that's definitely an opportunity that we can help with, you know,

Dustin Steffey: 33:22

where are you seeing the majority of your clients? Like, what sector? I'm sure you have demographics and sectors and stuff where the majority are they in like providing a goods or service? Or do you have others that are? Like, for example, me, if I were to use your services, I obviously market so I obviously have a need, where I can use your service to get cash back on the card. Like where's it landing in your business right now?

Chase Harmer: 33:52

I think the majority of our merchants are our clients, our digital e commerce stores selling they selling products or services, digital services to but what we're seeing is I think the biggest trend is marketplaces. You know, there was a study done in 2000 that said 2023 to over 80% of all ecommerce sales will be in some sort of marketplace. So if you look at Amazon is the biggest marketplace in the world. But you know, and people are selling on their Facebook is a is a marketplace and, you know, 10s of 1000s of stores are selling on there every single day. Right? So that's kind of the future of E commerce is, you know, people, you know, getting into a marketplace like that selling their goods and services, but also having an e commerce Store and I think the majority of our clients fall into, you know, they're doing between, you know, it could be as small as like 1030 10 to 20,000 up to, you know, two to two to 5 million or more. You know, it's kind of like the sweet spot, mid market. You know, really, you know,

Dustin Steffey: 34:58

you and I were talking in the beginning about Evolution and evolution of businesses and business models. Have you thought about for your business? And I know this a wildcard question I asked one, at least per interview? Sure, have you thought about evolving the business to do a little bit more other than marketplaces in E commerce, but like, look at, like, for me, I have my live event Jaden and I do on the 19th, we're going to sell tickets and stuff, we need kind of a platform to be able to process those sales of tickets and process everything to get the money's coming in, have you thought about evolving in that light?

Chase Harmer: 35:39

I mean, yeah, so we can easily support that type of, you know, business, you know, but I think we're open to almost anything. I mean, you know, we started processing, we're pretty cutting edge in that way. So like, you know, when NF TS came on the market and credit cards were accepted, like, we were right on that train, and our bank is pretty flexible. So, you know, even gaming, all the stuff that kind of most banks frown at, you know, we're real good at, you know, even thinking about like, games, digital games, where they're selling, you know, stuff inside of the games, you know, we process for stuff like that, and most banks won't touch stuff like that, you know, but I think that's where we're flexible. And we're always willing to evolve, you know, if we see an opportunity in the market, for us to take advantage of it, and there's enough market share for it to be relevant, you know, we definitely will go after it, you know,

Dustin Steffey: 36:36

see, that's the beauty of your business, you evolve with everything. And that's, that's the businesses that are successful in this day and age are the ones that are cutting edge and can evolve with time. So awesome. So where do you see the future of currency and fintech going?

Chase Harmer: 36:53

I mean, so I feel like the even like, the biggest retailers, retail retailers in the world will have probably a bigger e commerce presence than they do today. You know, you look at like cyber Mondays, and you know, what is the black Friday's, you're gonna see less and less people going into a retail store to buy this, steal those TVs, right and get the traffic, because you can just go online and get it for the same exact price, you don't have to leave your home, I feel like that's the future is people are going to be more online digitally shopping, than they will be walking into a retail store, the only things that you're going to pretty much be buying inside of a retail store. If you do would be like groceries, if you needed something like that day, most people are starting to use Instacart, stuff like that. So in you know, getting your goods inside of a marketplace like Amazon, where you can almost buy anything on there is damn near anything at this point. They sell like a bazillion types of products. And I think that's the future is, you know, and then you know, of course, the fiat currency versus, you know, Blockchain, we're going to see more blockchain more crypto being utilized, which one is going to be the one, you know, that we utilize, that's yet to be seen, I think that there's definitely ones that stand up my mind that will probably be really utilized. And even on the back end space for banks. There's, there's ones that the banks are utilizing, too, so but, you know, sending money because you can send money in like five seconds, you know, whereas actually sending money like go and try to send an ACH, try it today, you know, try to send a wire today such pain, you know, you gotta go down to the bank, or you have to do a bunch of paperwork, and then see if it's a hit, if you have a bank account number or the digital things wrong, like, there's just all these things that take a lot of time, distribution of the cash, all those types of things. So I feel like the future is blockchain, marketplaces and, you know, really, ecommerce retail is where it's at.

Dustin Steffey: 39:15

I have to say, I agree with you on that statement. I just think there's so much that an entrepreneur has to sift through in this day and age. And so it's super important to kind of sift through the clouds sift through the garbage and kind of have that straight arrow approach on Where are you heading and what are you taking with you? Great. So if you were to leave our listeners with one key, educational moment or golden nugget, as we call it, what is what is what? What is one thing you would want to leave our listeners with?

Chase Harmer: 40:00

I think that you know, the roadblocks and all the things that we consider problems are specific to your journey in your journey is not going to be like anyone else's. For me, I always compared myself to all the successful, you know, things that you see in the news. And it's hard not to do that. But you have to remember that your journey is specifically unique to you. And you can't compare yourself to other people. Because there's no sense in doing it. Because whatever you're building, whatever you're doing is, is, is specific to you. And if there's nobody else has done it before, you can't compare it to whatever what else has been done in the market, or whoever has been successful in the market. And most of these guys to see that have been successful. There have been at it for 1012 years. You know, they didn't do it in three years, they did it in like, 12, you know, and you're, you're seeing the fruits of that labor, but you can't compare your journey to anyone else. And I think that's the most important thing that I would leave your listeners.

Dustin Steffey: 41:04

I think that's some good advice. I found my younger self always comparing to others. And the minute I stopped caring about what others were doing, is the minute I started seeing my own success,

Chase Harmer: 41:18

right. Yeah, I mean, yeah, that's, that's the key. And don't give yourself such a hard time. You know, a lot of us will, will beat ourselves up about these things. But, you know, you got to reward yourself when you even the small wins, to reward yourself and realize that the journey is difficult. You know, and as long as you keep at it, you'll, you'll get there.

Dustin Steffey: 41:44

Jaden and I are terrible about rewarding ourselves in celebrating the small wins, we most entrepreneurs are. We got told that a couple episodes ago. So him and I have been thinking about that lately. And we got to do better about that,

Chase Harmer: 41:58

you know, most entrepreneurs, there were the worse, you know, because we don't see the small wins as wins, because we're looking at these other successes in the market. And you're like, that's not me. That's not me. And I didn't get there yet. But if you don't set a definite goal, because we most of us don't set definite goals. We're like, we want to be this thing at some point, you know, but it's when you're not there yet. It's hard to reward yourself. So I think the small wins are important.

Dustin Steffey: 42:26

I agree with you. So just to recap, evolution is important evolve in a business with the times are important. That's one key element that we brought up. When mistakes are made, get up and keep going, learn from them. And try not to make them again, get up and keep going finish. Finish things one thing at a time, try not to take on a million things because that never works out very well. And then I'll remind myself, this one to reward yourself and celebrate the small wins, if you can even recognize those small wins, because again, most entrepreneurs don't even recognize them.

Chase Harmer: 43:06

It's true. I mean, we're the worst. So you know, don't be so harder. So don't beat yourself up. You'll get there as long as you're keep going.

Dustin Steffey: 43:15

Some amazing information here and you offer an amazing service to entrepreneurs. So I appreciate I appreciate you talking about it. If people want to get a hold of you, they're interested in your services. How can they get a hold of you?

Chase Harmer: 43:30

Yeah, I mean, if you want to reach out to me directly, I'm always happy to help entrepreneurs is to even if we're not able to work together, you can reach out to me on LinkedIn chase on LinkedIn or if you were interested in our services go to profit pay.com And you can go through the signup process there.

Dustin Steffey: 43:48

I will have the link to the profit pay website within the episode description for this episode. So for my listeners that know they want to join, the link will be in the episode description. I will not link chases LinkedIn to the episode description because I don't want him getting spammed. However, if you do feel inclined to find him on LinkedIn, please do I use LinkedIn and I think it's an awesome community. So please find him say kudos say hi, whatever you need to say, Chase. It was a pleasure having you. I really appreciate it. Is there anything else you wanted to add before we let you go?

Chase Harmer: 44:27

No, this has been fun. So thanks so much for having me.

Dustin Steffey: 44:31

Thanks for coming on. And thanks for giving our listeners some key nuggets that can help them through their entrepreneurial journeys. Sure, thanks. Have a good one, my friend.

Chase Harmer: 44:41

You too. Bye

Dustin Steffey: 45:11

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