Most sales people don’t understand that making sales requires two extreme talents. Stay off the middle road; that’s where failure lurks. The more...
2 Reasons Sales People Don’t Make Money
I am very surprised and disappointed when I learn that many sales people are not making much money! If sales people were ranked based on professionalism, sales talent, networking ability, etc., I am amazed that those ranking an 8 or 9 on the scale of 1 to 10 are making less money than those […]
I am very surprised and disappointed when I learn that many sales people are not making much money! If sales people were ranked based on professionalism, sales talent, networking ability, etc., I am amazed that those ranking an 8 or 9 on the scale of 1 to 10 are making less money than those ranking 6 or 7. If you are not making the money you desire in sales, here are two things for you to consider carefully.
- The most obvious reason would be that you can’t sell! You need to audit yourself to make sure you ARE making sales. If you determine you aren’t making sales, fix that problem first. Consider these issues:
- Are you focused on selling too many different things? Focus on one, become good, and sell that one thing. If you try to make everybody happy, you’re not going to make anybody happy!
- Are you reading sales books?
- Are you leveraging social media to connect with your prospects?
- Are you working fifty hours per week?
Audit yourself on these core fundamentals. Make sure you’re doing the things you know to do.
- Are you so desperate for a quick “yes” that you give up all the profit on accounts? Some top sales people are making twenty sales a month but are not making money on those sales. Of course, you don’t want to put up walls preventing people from saying “yes.” But at the same time you SHOULD sell the value of your product and get paid. Don’t just give everything away. If you price everyone at a super low rate, then you won’t make any money.
One good example of this involves the Poynt terminal. If you’ve been seeing my content lately, you’ll know I really love the Poynt terminal. There are processors literally giving away the Poynt terminal for free! For the processor this is like a land grab opportunity to get good residual. However, in most of these programs the processor doesn’t pay the sales rep anything. Their thinking is that they can’t afford to pay the rep any commission when they are giving away a thousand-dollar terminal. Don’t give away something which costs a thousand dollars; sell it! Offer a lease or rental agreement.
Be assured that although I am meticulously honest and try to uphold high moral standards, my goal in business IS to make money. Sometimes my content may be misunderstood in that area. I’m in business; I’m a capitalist; I want to make money. If I am honest with people, I believe I’ll make more money in the long run by earning trust. People who trust me will make referrals for me. However, if I offer something of value which is a good deal for prospects and for me, I’m going to sell it rather than give it away. Sell a point of sale system, Poynt terminal, Clover, or something of value. Perhaps you could partner with someone locally who creates web design; sell a new web site for $3,000. The way to make money, ironically, is to focus on making money. The way you get to that end goal should still allow you to sleep at night; have high moral standards. But at the end of the day you must learn to convert that into money making profitable strategies.
Hopefully these tips will help you make more money in the field.
My name is James Shepherd. Thanks for reading!
Read previous post: How to Negotiate Like a Pro in Sales
Read next post: My Secret Self-Awareness Weapon