Career Change to B2B Sales (1 Viewer)

[Terpman22]

So I landed what I think is a pretty sweet gig as a sales rep. Existing client base, learning directly from the guy that built his own company. Company buys used office equipment - cubicles and the like - refurbishes them and sells them to spec to other companies. The strategy appears to be to stock up on everything in down cycles of the economy to get good deals, then when businesses come back to life, sell them back at a profit. I have a background in military and insurance claims along with a business degree. I feel I can communicate effectively and persuasively and I am not timid or anything, so hopefully it suits me well. I guess what I am asking is what to expect as far as what you like/dislike about it. How tough it is - competition..etc. I have a small base salary plus a commish, but really just finished my first week and it seems like something I might really like and hopefully earn some good money. Thanks for any insight.

 

[Abraham]

Good luck. A a career salesperson and owner of a small business I can tell you that there are no shortcuts to sales success. As a wise man once said,"the best way to book twice the sales of the next guy is to make twice as many calls as he does".

 

[saintfool]

toughest thing about sales, i think, is accepting the "you can lead a horse to water but you can't make them drink" aspect of the job.

 

[Terpman22]

Good luck. A a career salesperson and owner of a small business I can tell you that there are no shortcuts to sales success. As a wise man once said,"the best way to book twice the sales of the next guy is to make twice as many calls as he does".

Yeah. The phone thing is really no big deal. As an insurance analyst, I had to pry information out of a variety of sources to figure out each claim. Any insight as to the ups and downs of living primarily off a commission salary?

 

[Abraham]

My suggestion is to live off your base as much as possible and stow away commissions as much as you can. Over time you will learn what you can count on and what you can't.

And never, under any circumstances, take a draw against future commissions. Ever.

 

[Judge Smails]

Congrats. Sales can be a phenomenal career. You can make serious money, provide for your family while still having a lot of flexibility with your time. Your background, with the military and business degree, is perfect. Self discipline is a key factor in what makes salespeople successful, and people from the military often have this trait by the time they enter the private sector.

If you're competitive, have a burning desire to win, are money motivated (materialistic I know but I won't hire anybody that doesn't have big money aspirations) have people skills, and the strong work ethic I mentioned earlier it is a great fit.

Don't worry about the small base with total comp largely reliant on commissions. Most entry level sales jobs are that way. My BIL started as a stock broker on 100% commission. Your base salary will go up once you show performance and are marketable (meaning other companies would pay you a higher salary to bring you over). If you get a solid track record then 6 figure base salaries with attractive commission plans are the norm in many industry.

My only question is the business itself. Sounds like a company I'd want to own due to the profit potential, but not one I'd necessarily want to be a salesman in. Of all the things you could sell in the world, used cubicle's just doesn't sound that appealing. Anybody else making great money selling that stuff? With your background, it seems like you could latch on to other industries that are more promising (healthcare software, etc). Just my 2 cents.

 

[The Duff Man]

My best advice for new salespeople is to read. Everything you need to know to make a killing in sales has already been done and written about by someone else.

I found the Gitomer books to be simplistic but useful reminders about sticking to the basics. Success magazine is also a great publication.

 

[Hastur]

My best advice for new salespeople is to read. Everything you need to know to make a killing in sales has already been done and written about by someone else.I found the Gitomer books to be simplistic but useful reminders about sticking to the basics. Success magazine is also a great publication.

Gitomer's "The Sales Bible" is a great read.Also, Tom Hopkins "How to master the art of selling" may be dated, but still is almost required reading as it contains the fundamentals and helps you establish the core 'routine' needed for day to day activities.Lastly, Brian Tracy has written extensively on selling, and offers some good ideas about the psychology you need to adapt in order to succeed.There are hundreds of other great books on the subject, but those three will put you light years ahead of where you are now.

 

[Abraham]

My only question is the business itself. Sounds like a company I'd want to own due to the profit potential, but not one I'd necessarily want to be a salesman in. Of all the things you could sell in the world, used cubicle's just doesn't sound that appealing. Anybody else making great money selling that stuff? With your background, it seems like you could latch on to other industries that are more promising (healthcare software, etc). Just my 2 cents.

It's actually a very good industry. It's one where the vendor makes their money when they buy the goods, not when they sell them. When cubicles and big office gear come available, it's usually because a company is moving or (more likely) going out of business. In both cases, the company with the cubicles is very motivated to get rid of them either because they have to be out of the space or they have to quickly liquidate. And since you can't exactly throw cubicles in the back of a Prius, the price is usually very low so long as the buyer is willing to come remove them. You'd probably be shocked at the number of companies that will basically give away cubicles and desk furniture and cabinets on the condition that the buyer come and remove it.

 

[Terpman22]

My only question is the business itself. Sounds like a company I'd want to own due to the profit potential, but not one I'd necessarily want to be a salesman in. Of all the things you could sell in the world, used cubicle's just doesn't sound that appealing. Anybody else making great money selling that stuff? With your background, it seems like you could latch on to other industries that are more promising (healthcare software, etc). Just my 2 cents.

It's actually a very good industry. It's one where the vendor makes their money when they buy the goods, not when they sell them. When cubicles and big office gear come available, it's usually because a company is moving or (more likely) going out of business. In both cases, the company with the cubicles is very motivated to get rid of them either because they have to be out of the space or they have to quickly liquidate. And since you can't exactly throw cubicles in the back of a Prius, the price is usually very low so long as the buyer is willing to come remove them. You'd probably be shocked at the number of companies that will basically give away cubicles and desk furniture and cabinets on the condition that the buyer come and remove it.

This. I have seen the figures at some of the prices he paid for things. His warehouse is full of all kinds of things, like a 29 ft granite conference table, a vending machine and a bunch of old chairs. As for the other sales reps, it IS a family business, but the brothers had to be bought out apparently and he was hoping to groom his two sons into the biz, but neither are interested..., so here I am. Thanks for the advice guys.

 

[Papa Georgio]

Curious about other peoples input that might be doing something like this. I have been a coach for almost 20 years. I have been successful and I still love it for the most part (parents and sense of entitlement is worst part). However money has become more important as I have gotten older. I have 3 of my best friends that do some form of B2B sales and they are killing it. I am a little afraid to step out of my comfort zone. Nice thing is that my salary demands would not be great since I have been on a school teacher/coaching salary. Could one expect to bring in 70K realistically?

Not afraid of the long hours, I already have those. From November to March close to 80 hour weeks are pretty normal for me.

Any other areas look more promising?

 

[Papa Georgio]

Bump

 

[Tiger Fan]

What industry?

 

[Papa Georgio]

For me pretty much anything. It seems its a lot like selling insurance. There is money to be made but it takes a while to build up your clients and a lot of rejection along the way.

 

[Abraham]

Sales is a great place to make money. 70k is very reasonable if you can get something a little past entry level. Find a sector where you have knowledge and interest and work your ### off. B2b sales is all about effort. Good luck.

 

[saintfool]

ask your friends that are in sales what they are making."killing it" is perception only. things to keep in mind:

1. commission vs base salary + commission?

2. taxes on commission generally eats up about 50% of it.

3. sales is not a long term play generally. ask yourself what you'd like the future to look like? can you manage people, especially the type-A kind (which is often what salespeople are)?

i've been working in sales almost 15 years, the last ten in the sector. it's good money but often a grind like any other job.

 

[Judge Smails]

ask your friends that are in sales what they are making."killing it" is perception only. things to keep in mind:

1. commission vs base salary + commission?

2. taxes on commission generally eats up about 50% of it.

3. sales is not a long term play generally. ask yourself what you'd like the future to look like? can you manage people, especially the type-A kind (which is often what salespeople are)?

i've been working in sales almost 15 years, the last ten in the sector. it's good money but often a grind like any other job.

Not sure what you mean by this. It can absolutely be a career play. Some of the happiest people I know are in some form of sales without the headache of getting into management.

 

[saintfool]

ask your friends that are in sales what they are making."killing it" is perception only. things to keep in mind:

1. commission vs base salary + commission?

2. taxes on commission generally eats up about 50% of it.

3. sales is not a long term play generally. ask yourself what you'd like the future to look like? can you manage people, especially the type-A kind (which is often what salespeople are)?

i've been working in sales almost 15 years, the last ten in the sector. it's good money but often a grind like any other job.

Not sure what you mean by this. It can absolutely be a career play. Some of the happiest people I know are in some form of sales without the headache of getting into management.

in my experience, age is not an asset in the sales career. different careers value "experience" but sales is generally not one of them.

 

[Abraham]

Disagree completely. If you build a book of business in a specific sector then you are valuable to your employer and your competitors.

 

[matuski]

ask your friends that are in sales what they are making."killing it" is perception only. things to keep in mind:

1. commission vs base salary + commission?

2. taxes on commission generally eats up about 50% of it.

3. sales is not a long term play generally. ask yourself what you'd like the future to look like? can you manage people, especially the type-A kind (which is often what salespeople are)?

i've been working in sales almost 15 years, the last ten in the sector. it's good money but often a grind like any other job.

1) Always had salary + commission.. make sure it is't capped.

2) Where did you pull this nonsense? Your tax rate is based off your taxable ordinary income, which includes which both salary and commission.

3) After 15 years you should be solidly entrenched with relationships (with your customers and with leaders in the industry)... again where did you get this nonsense?

I don't know what you are selling.. but perhaps you are in the wrong place?

 

[Da Guru]

ask your friends that are in sales what they are making."killing it" is perception only. things to keep in mind:

1. commission vs base salary + commission?

2. taxes on commission generally eats up about 50% of it.

3. sales is not a long term play generally. ask yourself what you'd like the future to look like? can you manage people, especially the type-A kind (which is often what salespeople are)?

i've been working in sales almost 15 years, the last ten in the sector. it's good money but often a grind like any other job.

Not sure what you mean by this. It can absolutely be a career play. Some of the happiest people I know are in some form of sales without the headache of getting into management.

Could not agree more.

My best friend was in sales and landed some really nice accounts, was making around 100K a year working around 30-35 hours a week and off every Friday by noon. Usually golfing or going to ballgames one day a week with clients. The company offered him the sales manager position with the chance to make up to 20 % more than his income. Went from 30-35 hours a week to 50-60 hours a week, depending on other sales people to meet quotas instead of yourself. After 18 months as manager sales in the company were down, his stress level up and his income was lower than when he was selling.

 

[Ned Ryerson]

ask your friends that are in sales what they are making."killing it" is perception only. things to keep in mind:

1. commission vs base salary + commission?

2. taxes on commission generally eats up about 50% of it.

3. sales is not a long term play generally. ask yourself what you'd like the future to look like? can you manage people, especially the type-A kind (which is often what salespeople are)?

i've been working in sales almost 15 years, the last ten in the sector. it's good money but often a grind like any other job.

1) Always had salary + commission.. make sure it is't capped.

2) Where did you pull this nonsense? Your tax rate is based off your taxable ordinary income, which includes which both salary and commission.

3) After 15 years you should be solidly entrenched with relationships (with your customers and with leaders in the industry)... again where did you get this nonsense?

I don't know what you are selling.. but perhaps you are in the wrong place?

I'm not in sales, but just to provide a counterpoint, I wanted to provide my father as a slight tweak on this point.

My Dad did very well for himself in sales for nearly 20 years, but as he approached his late 50s, so did his contacts, and as his contacts were phased out, he used to complain to me that the people who were my age (30 years younger than him), and had little interest in dealing with "an old man". Admittedly, he was bit bitter towards the end, but something to consider .

 

[ChiefD]

The best advice I can give is don't act like a salesman. Be a consultant that has expertise and the products they need. People buy from people they like. If you have a good product at a fair price AND they like you, you're golden. You can make as much money as you want.