Ken Musante President Eureka Payments

Background

I founded Humboldt Merchant Services in 1993 and managed the business from its infancy through its transition into a major player within the merchant processing space. To do this, we relied on multiple sales channels and growth strategies. In 2003, Humboldt Bank sold the merchant portfolio and business to First National Bank Holding Company. I remained with the business as President and was responsible for managing the transition and driving sales. In 2008, First National Bank was shuddered by the FDIC and Humboldt Merchant Services was sold again, this time to a Chicago based organization, Moneris Solutions, Inc. I was retained as an Executive Vice President with Moneris, leading integration efforts and in charge of all sales channels. In March of 2010, I resigned from Moneris in order to join long time payment professionals Mr. Steve Kimberling and Mr. Scott Bartlett at Eureka Payments (www.eurekapayments.com). I accepted the President’s role in this start-up merchant processing organization, driving sales along with my long time associates.

I am a frequent contributor to industry publications including, The Green Sheet and am a regular speaker at industry events. I received a B.S. in Managerial Economics from UC Davis and an M.B.A. from Golden Gate University. I also hold a Graduate Degree in Banking from the University of Washington.

I am active in local community events and am a Board Member of the St. Joseph Hospital Foundation and regularly attend Chamber events and coach Special Olympics swimming.

What I look for in a business plan

• A good Executive Summary. If you cannot summarize your business plan and objectives, you likely don’t have a good understanding of your business and obstacles.
• A clear understanding of the risks and compensating controls. I want to know you have thoroughly thought through the downside and discussed the obstacles you will face and what you will do to mitigate your threats and weaknesses.
• Realistic assumptions and an understanding of your Plan B if you fail to achieve your sales projections.
• Passion, Perseverance and Persistence. Starting a business is very difficult. If you don’t LOVE your plan and work now you will not be able to see your plan through the difficult milestones that lay ahead.