OK! So, today is about Show Me the Money!
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Show Me the Money
There are really three ways to get paid as a salesperson – all others are variations on one a theme:
Straight Up Salary
This position pays a straight salary and you are evaluated on your performance against specific measures – maybe the number of appointments you set, or your conversion rates, or the deals you bring in.
This set up is ideal for the person who does not like income fluctuation. It is also ideal for the person who feels more comfortable REALLY selling a product when they can honestly say there is “nothing in it for them”.
Base Plus Commission
This sales gig pays you enough of a base to ensure you have some living expenses covered as your income fluctuates, but provides enough incentive to get the job done and perform at the top of your game.
Be sure to know what you need to be OK first, make yourself comfortable enough with the base so that you have the flexibility to go out and sell confidently (people can sniff out desperation from a mile away). But, not SO comfortable that it takes your edge off of the hunger.
This set up is ideal for someone who has a moderate degree of money motivation. Usually this person is also intrinsically wired to simply need to achieve. They also love the “unlimited” income potential that comes along with this situation, without having it all at risk.
(I consider Commission with a Draw to fit into this same category. A draw is NOT a base salary. It is like going into debt against future commissions.)
This sales gig is for people who are highly risk-tolerant. They want to be paid (and paid WELL) for the results they produce. They can command much higher commission rates because they are taking on all of the fluctuation and risk of performance.
These people are self-reliant and REALLY love the “Sky’s The Limit” nature of the work.
If you are entering one of these gigs, be absolutely certain that you can rely on your employer to provide the full training and resources you will need to succeed. Many companies who pay on “Commission Only” are just fine with churn and burn of sales people. Make sure this is an environment where you can THRIVE!
Love yourself UP!
The Irreverent Sales Girl