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Fewer than 10% of salespeople earn as much income as their talent will allow. I didn't read this statistic in the newspaper or hear about it on TV. I observe it on consulting assignments.
I observe it when I talk to salespeople in the seminars I conduct.
Believe me, 90% of the salespeople I meet fail to achieve their income potential.
The reason is rarely poor product knowledge.
The reason is almost never lack of opportunity.
Let's face it, business is booming.
The culprit is almost always a lack of vision, an inability for the salespeople to see themselves earning double or triple their current level of income.
In my first job, I worked for a large corporation earning an annual salary of $5,200. After one full year in this job, I received the highest rating in my work group. My reward: a 5% raise in pay. After working a full year, I was no longer earning $100 a week, I was earning a whopping $105 a week.
It's not that my company didn't treat me fairly, the other members of my work group only received a 2-1/2% raise in pay. My problem was that I was dependent upon a boss, or perhaps my boss' boss, to determine my value to the company. I had no direct influence on my level of pay.
What I like most about sales is that your raise becomes effective when you do.
When you work as a commissioned salesperson, you look in the mirror when you want a raise in pay. You decide how much you want to earn and devise a plan to take you there. You are in control of your income.
That's why I became a commissioned salesperson. I saw opportunity to shape my own financial destiny. I worked no harder in this job than I did in my first job, but in sales I was compensated on the results I achieved, not on the basis of overall corporate profits or on the basis of what top management decided to put in the budget for salary increases.
If you are content with your current level of income, stop reading now. But if your mind is open to a different mindset that will propel your income to the six-figure level and beyond, I have a couple of ideas for you.
Your Vision for Yourself
How much income do you deserve to earn?
How much income do you want to earn?
How much income does your family need to meet your and your spouse's goals for your family's lifestyle and education for your kids?
How well do you wish to live in retirement? Do you envision yourself living in substandard housing
on a social security check? Or do you see yourself with an income that will afford you and your spouse the wherewithal to maintain your current standard of living, do some traveling or perhaps spend the winter in a warmer climate?
Your vision for you and your family is a major determining factor that influences the critical
decisions we all make.
Your Decisions
Mature salespeople make decisions that will enable them to achieve the lifestyle their vision calls for. Almost everyday requires several decisions that determine how serious you are about fulfilling your vision for yours and your family's future.
Will I buy the motorcycle I've always wanted or add that money to my next mortgage payment?
Will I make just one more prospect call today or join my friends for nine holes of golf?
Will I buy a bigger bass boat or give that cash to my financial advisor to invest?
Will I get up early Saturday morning to plan my sales strategy for next week or take advantage of
a day off to get a little extra sack time?
Will I read the sports page this morning or finish the sales book I'm reading?
Outcomes
Except in rare circumstances whereby you might experience an accident or a devastating illness, the thousands of decisions you make over the course of your life will largely determine your
financial future.
Good decisions require personal discipline, maturity and commitment.
Bad Decisions
When we make expedient decisions, it is almost always because we lack the personal discipline, the level of maturity or sufficient commitment to do the things we know we ought to do.
My favorite definition of maturity: "The willingness to forgo present pleasures for future gain."
Bad decisions are also made when we believe we can have our cake and eat it too, when we believe we can manipulate the outcome that will result from our bad decisions.
Bad decisions begin with a thought. Once the thought is in place, our minds begin to work. With enough time invested in justifying a bad decision, pretty soon we convince ourselves
that it really isn't such a bad decision after all. Maybe the decision that will take us further away from where we want to be is not such a bad decision at all, but rather a well-deserved
reward for our hard work.
I'm reminded of the great comedian Flip Wilson playing the role of Geraldine. Geraldine knew very well that she couldn't afford a new dress, but after staring at it through the store window for several
minutes, she justified her next move by saying to herself, "I owe myself a try-on. A try-on don't cost nobody nothing."
Then when she gave into her desires and actually purchased the dress, she would say, "The devil made me do it."
Whether it's the devil or a lack of discipline, bad decisions are what prevent many salespeople from earning double or triple their current levels of income.
THE RIGHT ANSWERS TO THESE QUESTIONS CAN CHANGE YOUR FINANCIAL FUTURE
1. All salespeople have the same amount of time available to them, how are you spending yours? Do you know precisely how you are spending your time each day? Never let a day go by that you
don't search for opportunities to avoid wasting time…your greatest resource.
2. Specifically, what is preventing you from doubling your current level of sales and gross profit production? Be honest with yourself. If you don't identify these obstacles and initiate
action to overcome them, you'll forever fall short of your income potential?
3. How many sales books have you read over the past 12 months? How many sales seminars have you attended? If you think education is expensive, think about how much ignorance is costing you.
4. Are you hanging out with salespeople who are producing significantly better numbers than you are? Hang out with people you can learn from. You are who you hang out with. Don't allow your
friends and associates to pull you down to their level.
5. How long has it been since you spent time with a salesperson in your company you know works smarter than you do and produces better results? Opportunities to improve your sales
effectiveness are all around you. Go for it!
6. How long has it been since you bought lunch for someone you greatly admire; that is, someone you wish to emulate? Ask a million questions, take a lot of notes. Never make the mistake of believing you've got it figured out.
7. How long has it been since you pruned your customer base? Are there customers who are taking more of your time than you can afford? Do you have customers who are not profitable for you to service? By handing off these kinds of customers, you make time for customers that appreciate the value you bring to the relationship.
So, are you anywhere near your earning potential? Most people aren't. But right now you're closer than you were minutes ago, and you'll get even closer with each action you take. Take the first one right now!
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