My most sincere apologies for taking such a long hiatus from writing. Was busy sorting out a new career path. For those who religiously follow my blog, don’t fret. I will still be selling and I will still be writing.
Today I am gonna share my thoughts on the common mistake, the young and new sales professional make when choosing their sales career path. Typically, sales gurus constantly preach on how to be a great salesperson. But no one will tell you about the ugly truth of some sales profession.
It is sometimes true that most sales professionals who are “self-employed” or fully on commission based make more money than those who are employed and working for an organisation. Do note that I used the word “sometimes”.
When you choose to be self-employed, there are many factors that you would have to consider. There are too many organisations out there, who manipulate the idea of success or financial freedom. The young and ambitious ones who have a dream will easily fall victim to this. These are also the organisations that pay peanuts for commission and your earnings are truly based on your day’s work.
Truth is, it does make you a better sales person but it may not fill your pocket and success may not be as easy as they made it sound. With that, please acknowledge that the oldest profession in the world with only a small percentage of human beings capable of doing it, should not be paid at a minimum wage or commission. Have some pride. If you are good at something, make sure you are paid and paid right.
I am not anti-commission based or being self-employed. I have plenty of friends who made it big as real estate brokers and what not. See, the difference is the selection of trade. Real estate is a lucrative business if done right. The success rate in real estate is definitely far more sustainable than some other businesses.
What I am truly against is a future employer painting a beautiful picture and withholding facts. It is like buying without reading fine prints and having buyer’s remorse because your commission was pathetic and you are broke which eventually will burn your motivation.
So before you jump into making that decision that you are capable of being self-employed or be fully on commission based because someone painted a beautiful picture that will be possible in 3 years, here are a few things that you need to consider.
1. Can I truly commit to the hardship of being self-employed or fully commission based? This translate to having broke days, months or earning minimum monthly income after all that sweat and blood? Will it break me?
2. Having the realisation that self-employed or fully commission based refers to unpaid time off or sick days which means zero income.
3. Realising the hit rate of success could be a small 20%. I remember a long while ago, someone told me that he works on commission based and if he does well, he will eventually have a subsidiary to the parent company. If is Indefinite Future and when you are going to do that to yourself, please be realistic so you can estimate your success.
I mean only you know if you are “The Special One” who will get there. And it will not kill to ask, what is the average income of the most mediocre salesperson and top salesperson?
On that note, throw in that question of what is their success rate. What is the ratio of success to recruit ? With all these information, you can then decide if it is meant for you.
I guess that sums it up and my job here is done. Hope younger sales professionals will be wiser when choosing their profession.