I recently went one-on-one with Monica Eaton, founder and CEO of Chargebacks911.

Adam: Thanks again for taking the time to share your advice. First things first, though, I am sure readers would love to learn more about you. How did you get here?  

Monica: It’s been an interesting journey to getting to where I am today as Founder and CEO of Chargebacks911. I set up an eCommerce company in the early 2000s. We were growing fast, and our customers liked our products, but chargebacks were seriously cutting into our business. For those who may be unfamiliar, a chargeback is a credit or debit card charge that is forcibly reversed by the consumer’s bank when the consumer disputes a particular charge. This process triggers an immediate debit to the underlying retailer and without notice, a business can lose both the funds from the sale, and the cost of the merchandise that may have been sent to the consumer in exchange for this charge.  Bottom line, chargebacks can wreak havoc on an otherwise healthy business! 

Interestingly, when I investigated these charges further, I found that many of them were illegitimate and mistakenly filed.  Thankfully, my research also led us to discover a treasure trove of improvements we could make, to prevent repeat scenarios in the future. Chargebacks are not only capable of damaging the business financially, but they can damage your relationship with payment processors - an impact that permeates the entire business - resulting in higher processing fees and ultimately jeopardizing the future of a company.  

I went to market to search for a viable chargeback management solution that could, at the very least, compile transaction data and help me identify the true source of my chargebacks, but I couldn’t find anything that sufficiently met our needs. So, I decided to create one. Once we developed the technology, it wasn’t long before we were confronted with the desperate need for this service, globally. This realization marked the birth of Chargebacks911, which has grown to support more than 2.5 million merchants in 87 countries – an exciting journey for sure, and much more in store! 

Adam: What experiences, failures, setbacks, or challenges have been most instrumental to your growth?

Monica: I guess you could say that virtually every experience contributes to company growth. There is a proportionate relationship between the experiences you are willing to have (which may end in failure, setback, or triumph) and your growth potential. And the better you become at strengthening people, passion, technology, and grit; the more able the company will be, to convert failures, setbacks, and challenges; into growth opportunities. This is key. 

A personal example of lessons learned is choosing to listen to self-professed “experts” over my own experience. I was desperate for a solution for chargebacks, so I went with conventional wisdom, which said it was better not to react. Even though I knew most of the disputes filed against me were invalid, I was advised not to fight back, and so I didn’t. Months went by, and I was losing more and more money with each one. Finally, I said, “enough is enough.” I decided to handle things my own way, which proved to be the right decision. 

Another business lesson which is a little more niche was the name of our business: Chargebacks911. It was an inside joke of sorts – since it was painfully clear that online merchants desperately needed an anti-fraud emergency hotline, we would be their 911 call for chargebacks and disputes. ‘Who you gonna call? Chargebacks911!’ However, as we became more international, we realized that every country has a different emergency hotline phone system, and non-English-speaking countries didn’t always understand our 911 connection. We eventually rebranded ourselves as The Chargeback Company in Europe and then learned another lesson – don’t change what makes you different!  After a few years attempting to reinvent our branding, we listened to the market and stopped trying so hard to fit in with everyone else.  What makes us great, is what makes us different. 

Adam: How did you come up with your business idea?  What advice do you have for others on how to come up with great ideas?  

Monica: When I first encountered the issue of illegitimate chargebacks, I began scouring the market looking for solutions but found that there was nothing capable of addressing my problems and needs. As a business operating internationally and growing online, chargeback issues were much more prevalent. And with the company facing so many invalid disputes and no viable solution out there, rather than succumb to defeat, I decided to tackle the problem head-on. I never had any ambition to serve the payments industry, and didn’t bring any formal education in platform and software development – my interest was simply that I wanted to solve this problem and believed we could. In some ways, it was a benefit that I didn’t come from this industry.  I naturally challenged “why” and stayed focused on studying the problem.  

The solution we built for ourselves worked so well, that other businesses and banks started coming to us and asking for consultation for their own chargeback issues. This was the seed, accompanied by an unmatched team of very determined and talented individuals, that eventually grew into Chargebacks911. 

Regarding advice, my foremost guiding principle for generating great ideas is to ensure your product or service solves a critical issue for your target market. Focus on the problem you are solving and ensure you understand this intimately. That’s not always easy in an ever-evolving industry like payments or eCommerce.  

Today, the volatility of the eCommerce industry can cause valuable businesses who fail to adapt to break down. It can feel overwhelming, but I always go back to that core principle: we’re here to help merchants eliminate unnecessary losses and recover revenue, which in turn helps keep prices affordable for consumers. 

Adam: How did you know your business idea was worth pursuing?  What advice do you have on how to best test a business idea? 

Monica: After conducting extensive market research and experiencing firsthand the disruptive ramifications of chargebacks on businesses, I got to work on creating a solution. Once that solution was fine-tuned and implemented into my own eCommerce business, its success in mitigating reputational and financial damage was indisputable. But what made me realize I had a viable product worth pursuing was the subsequent inquiries I received from similar businesses looking to protect their revenue from unnecessary chargebacks. Working with these companies and many more like them illuminated the significant demand for a chargeback solution within eCommerce and the substantial change I could bring to the industry. 

 "I have not failed. I have just found 10,000 ways that won’t work.” – Thomas Eddison.  Considering that my greatest corporate success, Chargebacks911, was born from the challenges I faced running my previous business, this quote always reminds me that no experience is ever wasted and that you don’t know until you go for it and try.  All of our experiences, good or bad, are building blocks to the rest of our lives.  

But adopting the mantra of “if you fail, try, try again” won’t give you valid feedback without a strategic, well-thought-through approach. Ultimately, the key lies in gathering real-world data and feedback to validate the concept's viability before scaling it further. I was in a unique position to conduct these tactics on my own venture and see first-hand their results, but for those who don’t have their own business to practice on, they can explore partnering with pilot groups, incubators, or manually searching message boards and online platforms for companies in need of their proposed solutions. 

Adam: What are the key steps you have taken to grow your business?  What advice do you have for others on how to take their businesses to the next level?  

Monica: Two key steps in growing this business that have been instrumental in our success are:  a) build stamina through knowledge, and b) challenge the status quo. These two items are interrelated, but probably the most vital building blocks that help form an indelible foundation for growth.  

Becoming an expert is a requirement in the early days for any business, but maintaining that expertise requires significant and ongoing effort.  For example, if you have a successful business idea, you will attract competitors – which is more good than bad as this helps construct demand and expands the addressable market you can serve.  Competitors can trigger upside or downside, depending on where you focus your efforts. I love the use case of Netflix and BlockBuster as an example. Understanding what is happening in your industry and studying trends, may mean you need to make a pivot or double down – but in absence of this insight, your previously healthily growing enterprise could take a turn for the worse.  

For advice - well every business model is different. As a leader, you need to be knowledgeable about your own challenges and opportunities to formulate a profit plan that fits your business best so you can scale from startup to enterprise to corporation.  

While the ideal scenario for many is to self-finance and grow the company as you see fit, there are times when opening your business’s doors to new capital and new opportunities may accelerate growth. If you do decide to go with venture capital, make sure your potential partner has similar goals in mind; the worst thing to do is partner with someone who doesn’t share your company’s purpose or have your best interest at heart. 

Adam: What are your best sales and marketing tips?  

Monica: Again, I believe this goes back to truly understanding your audience. The best sales and marketing strategies should be centered on the specific pain points, needs, and desires your product or service looks to address.  

In general, your sales messaging should be personal, while your marketing language should be consistent with your brand’s messaging. This provides your marketing with recognition and credibility, as well as fosters long-term relationships with current or potential clients. When you see a successful use case, be sure to amplify that success through your marketing channels; nothing resonates better with your customer base than a positive testimonial.  

Lastly, while actively listening to feedback and analyzing data is important, adapting and evolving products and strategies based on this feedback is critical. Remember, complacency is the enemy of progress, so evolving your business to meet the needs of your target audience is the best way to stay ahead in dynamic markets. 

Adam: In your experience, what are the defining qualities of an effective leader?  

Monica: I think a leader has to lead by example, first and foremost, and know when to press their foot on or ease off the accelerator. I have always tried to maintain a close role in shaping the direction of our company. For example, I want to remain a part of the development process for new products and services. However, I firmly believe it is equally important to know when to step back and allow the team members to take the lead. I want to empower my employees by giving them the space to experiment with their ideas and making them feel they are supported in doing so. Even though we are no longer a fresh start-up tech company, I want to maintain that same dynamism, mentality, and hunger to create change that we possessed in our early years.  At the end of the day, a company is not a single person. It is a synergy of vital ingredients, a culmination of people that share the same vision, but have different skills, attributes, and perspectives. A great leader appreciates this balance, accepts challenges, and puts more emphasis on the mission, and less on their hierarchy status.  

At the end of the day, I consider my largest role in our organization is to motivate growth, maintain our focus, and continue to be willing to confront potential failure with earned confidence that every problem provides an opportunity we can mine.  Success is the best form of motivation, which is a feeling and experience that cannot exist without challenge.  

Great leadership does not come through a title, it can only be earned – and takes work to maintain.  

Last but not least, I would add that great leadership requires an insatiable appetite for growth and improvement – both professionally, personally, and where this relates to the company and its people.  The difference between mediocre and great can not only be described in effort and talent, but someone who could probably be described as obsessive enough to raise the bar; and bring out the best in others.  

With the right team and culture, “the impossible just takes a little longer” – many great leaders exist throughout our organization and within every successful company. They are the ones who motivate their teams, never give up, invest in others and themselves, and believe so much in a vision that it becomes a reality.  They set goals higher than challenge us and their source of true fulfillment comes from the people they serve, the lives they influence and can impact – not from those who serve them.  

Adam: How can leaders and aspiring leaders take their leadership skills to the next level?  

Monica: Remember the core values of what got you to the position you’re in now to then springboard for future success. 

While I believe perseverance is the cornerstone quality of any entrepreneur, I’ve also learned to appreciate the value of developing thick skin, especially when introducing new, disruptive technology in traditional spaces. There is never a shortage of nay-sayers and to stay ahead means being willing to consistently challenge the status quo. But being determined to not give up and having the motivation to continue to raise the bar won’t account for much if you aren’t willing to also improve yourself. This means being willing to reframe criticisms into constructive feedback and turn obstacles into opportunities.  

Having a good work ethic, an insatiable appetite for improvement, and the discipline to uphold high professional standards is critical to maintaining long-term success. In addition to these attributes, being able to offer guidance to your employees who make mistakes rather than reprimanding them will inspire them to be better so long as your criticism is constructive.   

Lastly, adopt a growth mindset and consider the long-term potential of your decisions and behavior. As a rule of thumb, always be professional. Take time to apologize when you’re wrong, take the high road in public debates, and use your example and execution as the best defense to critics.  Many of us get into leadership roles and try out the most brazen tactics, making enemies with juniors who you think you’ll never come across in the future.  This is not only a short-term error, but something that could haunt you in years to come!  Imagine yourself reporting to this person a few years from now?   

I really believe that if you commit to these mindsets and are honest with yourself about whether these philosophies are part of your everyday life, then everything else will fall into place. These principles will always serve you well, both in and out of the office. 

Adam: What is your best advice on building, leading, and managing teams?  

Monica: I think you need to identify how your team works best.  

As a business, you’re not just paying your employees for work; you’re investing your time and money into the people around you who are the fuel that allow your businesses to run. Your employees are your advocates, and you need to find out how to maximize the financial investment you made in these people. 

One way to do this is to allow your employees to share the responsibility in shaping your company. You can provide a platform for employees to share ideas and information. Just as important as providing the platform is to create an atmosphere that encourages the sharing of ideas. Protocol for facilitating good ideas and turning them into reality should be embedded in your company’s standard operating procedures. 

Another strategy I recommend employing that may be seen as non-conventional is to tailor job roles to individual skill sets rather than fitting employees into predefined roles. By aligning tasks with the unique strengths and proficiencies of team members, leaders can unlock their full potential, fostering a more engaged and productive workforce. This strategy not only capitalizes on individual talents but also cultivates a dynamic, adaptive environment where each member contributes optimally. This approach ultimately enhances team cohesion, innovation, and overall success. 

Adam: What are your three best tips applicable to entrepreneurs, executives, and civic leaders?  

Monica: The first is to learn how your customers or consumers are behaving. If I take the example of my industry, in the world of transaction disputes, qualitative data is sometimes just as important as quantitative data. For example, a merchant experiencing an influx of chargebacks may have a defunct helpline that can’t be reached, thereby driving consumers to file a chargeback rather than going through the established refund process. Gathering feedback through surveys and consumer outreach can help you identify and troubleshoot an ongoing problem. 

Next is understanding who your competitors are. With the internet and digital platforms providing consumers with more choice — and thus more competition — simply having the best product is not enough anymore. You might be competing against brands from around the world. The most strategic way of going toe-to-toe with these businesses is to study and understand their strengths and weaknesses. For example, your product offerings may be similar to your competitors, but you can see from online reviews that their customer service is lacking. Offering a 24/7 support line or free return shipping may be enough to push their unsatisfied customers to your site. 

Finally, create a winning culture. A culture that shows value in your mindset is as important as your product offerings. There are two types of employees: those that show up for a paycheck, and those who share your vision and help drive the business to success. As an entrepreneur, you are responsible for everything, including morale; find out what your employees and customers need and show them that you are willing to adapt not only your business practices, but your mental approach so that everyone wins. 

Adam: What is the single best piece of advice you have ever received?  

Monica: I’m not sure if it counts as advice but my first boss was instrumental in teaching me how to lead. If there’s one thing I learned from him, it’s that it’s okay to make mistakes. I can’t tell you the number of mistakes I made while working for him. However, he had a way of turning those missteps into learning experiences, and he didn’t mind providing space for that, because he knew it would make for a stronger team in the long run. 

That employer always challenged me to be better, to think more deeply, and to try new ideas. I try to carry that same approach in my own business. 


Adam Mendler is an entrepreneur, writer, speaker, educator, and nationally-recognized authority on leadership. Adam is the creator and host of the business and leadership podcast Thirty Minute Mentors, where he goes one on one with America's most successful people - Fortune 500 CEOs, founders of household name companies, Hall of Fame and Olympic gold medal-winning athletes, political and military leaders - for intimate half-hour conversations each week. A top leadership speaker, Adam draws upon his insights building and leading businesses and interviewing hundreds of America's top leaders as a top keynote speaker to businesses, universities, and non-profit organizations. Adam has written extensively on leadership and related topics, having authored over 70 articles published in major media outlets including Forbes, Inc. and HuffPost, and has conducted more than 500 one on one interviews with America’s top leaders through his collective media projects. Adam teaches graduate-level courses on leadership at UCLA and is an advisor to numerous companies and leaders. A Los Angeles native, Adam is a lifelong Angels fan and an avid backgammon player.

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