Tag Archives for " Commission "

Fear, New Seller, Confidence

TSE 1015: TSE Certified Sales Training Program – “Lack of Confidence”

Fear, New Seller, ConfidenceOne of my favorite topics to talk about is lack of confidence and the challenges and fear that come along with it; and, more specifically, how we can overcome it.

Paul Carswell was the salaried manager of a Sherwin-Williams storefront for many years before transitioning in 2018 to become an independent Medicare Insurance Specialist. He works with clients ages 65+ to help them and to bring value to their community.  

Surviving on a 100% commission-based income took some getting used to. Instead of clients walking into the store, Paul had to learn how to make calls and set appointments.

In order to educate potential clients on the complexities of the Medicare system, Paul also hosts educational events in the community. He uses podcasts like this one to reach out to as many people as possible. Such events help people to realize that his primary goal is to help the community rather than to simply earn a paycheck.

Lack of confidence

Moving from a salaried position to a commission-based position certainly caused some fear and trepidation. The transition of receiving a paycheck every two weeks, regardless of performance, to selling private insurance came with a steep learning curve.

Paul knew he had to get out in front of people. Nobody was simply “walking into the store anymore.” Previously, his whole day had been planned out for him. Now he had an empty schedule that only he could fill.

It seemed nice and relaxing for the first two weeks but then reality set in. With no paycheck coming in and no prospects on the calendar, Paul admits to feeling defeated.

A lack of confidence was setting in.

Regaining confidence

Paul had to put his pride aside and get busy. Drawing from his experience as a basketball player, he knew he had to take shots if he was ever going to score.

He started contacting old friends and networking – anything to populate his schedule. It didn’t matter if it was Medicare-related or not.

Paul found that the more he put on his calendar, the more he was able to begin to weed out the events that would not benefit his business. Eventually, after about eight weeks of making calls and networking – still without a paycheck – he finally had a full schedule of Medicare-related events to look forward to.

As a result of the changes he implemented, Paul improved his relationships with his friends by talking with them more. On the business side of things, he has increased his bookings from zero to 50 and is earning a decent income because of the work he put into it.

It didn’t all come at once, however, as it did before at Sherwin-Williams. In his current role, sales is a lengthy process instead of a quick sale with an immediate exchange of goods.

Learning to understand the long-term payout was his biggest struggle. As such, Paul advises everyone to stay focused on long-term goals.

The more people you get yourself in front of, the more you will realize how many people truly care about you and want your business to succeed.

“Lack of Confidence” episode resources

You can contact Paul on his cellphone at 703-342-9087 or via email at paul@carswell.io.  Paul is on Instagram  @paulcarswell. He can also be found on Twitter and Facebook. His website will be up and running soon!

This episode is brought to you in part by prospect.io, a powerful sales automation platform that allows you to build highly personalized, cold email campaigns. To learn more, go to prospect.io/tse. It will help you with your outbound to expand your outreach. It allows you to set it and forget it. Your prospecting will never, ever be the same.

Previously known as TSE Hustler’s League, our TSE Certified Sales Program offers modules that you can engage on your own schedule as well as opportunities to engage with other sellers in other industries.

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TSE 694: Sales From The Street-“What You Must Know Before Taking A Commission Only Job Part 2”

This is part two of the other day’s episode where we talked about things you should consider before taking a full commission job. The first six have already been discussed back in Episode 692 and so I’m going to discuss the last two points today.

  • Work Ethic

If you haven’t done a full commission job before, you’re going to get screwed up without the right mindset. You want to get that money at the end of the day.

Figure out what their ramp up week is. It’s typical scenario that they’re going to train you. And you have to pay for rent. And if you didn’t make any money that week, they’d float you for that week but only for a certain number of weeks.

Then you need to figure out way and when you start getting money, you pay off the money. Say, the ramp up period is a couple of weeks, which means you start paying for your own stuff afterwards.

So be willing to work hard and be willing to wake up early. Be willing to stay up late and do what you need to get some leads. Have that why. Otherwise, don’t do it.

  • Planning

If you don’t close any deal, you get nothing. So if you’re not able to plan your days effectively especially if you’re doing cold-calling, you’re not going to make it.

Make sure you plan out your days and put everything on the calendar. Be totally organized. And if do this, you’re going to be successful.

I’m telling you. It can happen. But you’ve got to hustle. You’ve got to put in the work.

Get Your Mind Right

This includes studying and getting access to knowledge. Read books. Watch videos. Listen to podcasts. Because you need that daily inspiration.

Set apart 30 minutes a day to get your education in as well as some time to get that motivation in.

The path to depression is quick. It’s easy to doubt yourself. And you may think about going back to your job waiting tables. But nothing worthwhile is ever easy.

You have to put some hustle in. But you also don’t want to reinvent the wheel. So go with an organizations that already have all these eight things in place.

Episode Resources:

Tired of the same, old PowerPoint decks? Use Prezi Business and your presentations will never be the same. Tell your story the way you want to tell it.

Join the TSE Hustler’s League.

The Sales Evangelizers Facebook Page

TSE 692: What You Must Know Before Taking a Commission Only Job Part 1

Should you take a full commission job? This isn’t an uncommon question among sellers. So I want to give you some insights today into how you can be successful at it as well as some red flags.

Here are 8 things you need to make sure that you understand and have agreed to before accepting your full commission job.

1. A proven process to follow

Find out what the ramp up period is like or what is their process like. Do they have a manner for you to follow to sale? Or do you have to go in there and wing everything? They should have a process you can follow otherwise wining it will get you nowhere.

2. Leads

Will you get your own leads or will they provide them?

If you have to get your own leads, it takes you three months to close one deal. You don’t know who the ideal customers are or where they’re hanging out. You have to learn industry information.

All these you have to learn plus you have to find your own leads. So you have to go out and cold-prospect. Or you try to go to networking events.

Well, they have to help you getting the leads They should have a process for that.

3. Goals and Metrics

Make sure they have clear goals and metrics for you to hit for your ramp up period. Get an idea of what their ramp up period is.

Find out if they have key indicators you or they can use to gauge your performance – number of calls, amount of demo or appointments set, etc.

4. Compensation Plan in Writing

Don’t go with word of mouth, especially if you’re working for a friend or family member. Make sure you get everything in writing. It’s not being hard-nosed but it’s being smart.

It’s just business. It’s not personal. If they’re going to let you go, it may not be for a personal reason.

Make sure you get everything in writing. Whatever the arrangement is, make sure everything is put in writing.

5. Employee Reviews

Check out Glassdoor to find out from employees what they like about the company or whether the company has good reputation. Get whatever information you can about the company.

6. Current Customers

Do they have current customers? Find out if they have a process for handling customer complaints. Otherwise, you don’t want to be wasting your time handling those concerns.

Stay tuned for the last two things which I will discuss this Wednesday!

Episode Resources:

Tired of the same, old PowerPoint decks? Use Prezi Business and your presentations will never be the same. Tell your story the way you want to tell it.

Join the TSE Hustler’s League.

The Sales Evangelizers Facebook Page

 

 

Fear of asking for the sales, Donald Kelly, The Sales Evangelist Podcast

TSE 484: Sales From The Street: “I Was Afraid of Asking For Big Dollars”

Fear of asking for the sales, Donald Kelly, The Sales Evangelist Podcast Today, it’s my turn again to share the struggles that I’ve had. I was that sales guy. I’ve done pretty much everything — door-to-door, IT training classes, appointment setting, etc. I’ve sold almost everything from Dish Networks to medical services, EHR records, until I settled in software where I sold document management solutions.

Podcasting

I launched The Sales Evangelist as a little side project (for which I’m doing it full-time now) until it grew to a point where people asked me for some coaching and training and I helped them develop some processes and put the system in place. I also have the TSE Hustler’s League, an online group mastermind and coaching group.

Speaking

I love speaking and it’s obvious since this is the 484th episode. I love to be behind the mic. I am also being given opportunities to speak at conferences or small groups. And when they asked me how much I charged for my services, I didn’t know how to do that. This was a big challenge for me.

My greatest challenge – Asking for more

And then my clients started to tell me that their lives are being changed. Once I started to see and believe that the things I have to say can change sales teams or motivate an organization or a group of people and they’re seeing great results out of it, this gave me the confidence to start asking for more.

Crush that limiting belief!

I finally overcame that limiting belief that I could not get that much money. What are some limiting beliefs that you have? If you have the value to bless or help somebody’s life then ask for it. If they’re going to get that ROI, ask for it. It is your moral obligation to do so.

People put more value on high-ticket items.

I used to charge low for coaching at one point and then I realized that the people weren’t doing the things I was coaching them on when I was charging them lower fees. And then when I raised my coaching fees, I saw people were applying the stuff I was giving them and they placed more value on it. Their lives are transforming. But that came as a result of me asking for more money.

Today’s Major Takeaway:

Don’t be afraid to ask for more if you have something of value. Ask for it because people will feel and see your confidence. They will apply your stuff and they will see great results.

Episode Resources:

David and Goliath by Malcolm Gladwell

Steal the Show by Michael Port

TSE Hustler’s League

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Sales Training, Donald Kelly ,The Best Sales Podcast, Sales Management

TSE 347: Stop Lying To Yourself!

Sales Training, Donald Kelly ,The Best Sales Podcast, Sales Management As we celebrate Independence Day, now is also the perfect time to finally stop lying to yourself so you can be free from your false beliefs.

Now what separates great, successful salespeople from those who are not? What I realized is that we have the tendency to lie to ourselves as sellers.

 

  • I don’t need to do all the planning.
  • I don’t need to get the improvement I need.
  • I don’t need to review the things I’ve already learned.
  • Marketing is giving us crappy leads (then you blame the website and then the territory, and then the management)

 

So you basically blame everyone except yourself. You lie to yourself, telling yourself that you’re not the issue. Well, it may be a hard pill to swallow but the problem is probably you. You’re probably not doing the things you need to do.

Reasons for lying to yourself:

  1. Complacency
  2. No strong “why” or purpose
  3. Lack of passion
  4. Lack of belief in your company or product

So I want you to ask yourself the following questions with all humility and honesty:

  • Why are you doing this? Why are you here?
  • Are you lying to yourself?
  • Do you know that you’re not selling because of…?

Stop believing your own lies because you are better than that. And if you’ve never been to this place yet, then don’t even go that route. Take control of the situation. Make the best of this. Hustle, hustle, hustle and you will see results.

Coach people on your team and help motivate them. Help them rediscover their why where they felt their meaning and excitement.

Today is Independence Day. This is YOUR independence day!

Episode Resources:

Kevin Kruse’s 15 Secrets Successful Know About Time Management

Keith Rosen’s Coaching Salespeople into Sales Champions

Get a free audiobook download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.

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The Sales Evangelist, Donald Kelly, Donald C. Kelly

Donald C Kelly, The Sales Evangelist Podcast, Closing The Deal

TSE 327: How To Close The Deal

Donald C Kelly, The Sales Evangelist Podcast, Closing The DealA lot of people are having a difficult time closing deals and we tend to put so much emphasis on the close that we actually start to miss. You start to think ahead and that could mess you up. Now if you would relate that with playing football, you basically take off before you actually catch the ball so you missed the catch. Because you were so focused on the next step, you practically missed what you were currently doing.

As a seller, we put so much emphasis on the close. Now what if you treated it just like anything else? Just like walking where it becomes a natural part of you?

Don’t put so much mental emphasis on the close that you trip and mess up. Don’t just swing without hitting anything. Simply think of it in a natural way.

The best way to close a deal is to never skip the process you’re in right from the very beginning. Here are some strategies to help you close the deal for real:

  1. The person must have a challenge that you can solve.

You need to be able to come across as an expert so you can move the problem from being status quo to finding a solution.

  1. Make sure they have the money.

They can’t do anything unless they have the money.

  1. You have to talk to somebody who can say yes.

Early on, make sure they understand that the challenge that’s causing them pain must be alleviated. Emphasize they’re losing something if they’re not doing this.

  1. Get the time frame.

Find out when the deal or project needs to get in place. What are they anticipating? What are they looking to do?

  1. You have to set the rules before you play the game.

Before meeting with the prospect, give them the opportunity to say no. If you get them to say no, then that’s awesome so you can focus more on people who are going to say yes.

  1. Just move naturally into the closing.

Again, don’t put too much emphasis on closing or else you might just fumble in the end. Once you’ve done all the things early on in the sales process, finding out their real challenges and they know they need to move, and you’ve demonstrated how you can help solve their problem then it would be easier for you to naturally close it. Assumptive close works well. Make it as natural as possible.

Episode Resources:

Coaching Salespeople into Sales Champions by Keith Rosen

Get a free audiobook download and a 30-day free trial at audibletrial.com/tse with over 180,000 titles to choose from for your iPhone, Android, Kindle or mp3 player.

The Sales Evangelist, Donald Kelly, Donald C. Kelly

The Dark Side of Sales, Sales Motivation, Donald Kelly, The Sales Evangelist

TSE 200: The Dark Side of Sales!

TSE 200When many think of sales, they tend to only think of the “sexy stuff”. You know, closing deals, earning big commissions…all the good stuff. But there is another side of sales that is often over looked. I call it the “dark side” of sales. It’s the reality of what’s happening to may sellers. In fact, it’s been mentioned that 87% of salespeople typically miss commission. Ever heard of the Pareto principle (also known as the 80–20 rule)?

It states that for many events, roughly 80% of the effects come from 20% of the causes. In other words, 80% of the revenue is generated by 20% of salespeople. Yikes! Have you ever thought about those 80% of sellers who can’t seem to make quota? Imagine how depressing their lives must be. Well, I personally know exactly what it feels like. I’ve been there and I’m sure many of you reading this have been there as well.

This is why I did this episode. I wanted to share my real life experience and offer some ideas on how you can cope with the “dark side” of sales. Here is what I recommend:

  1. Get a level head
  2. Hard work and determination
  3. Focus on the most important thing

This simple process helped me find success. I hope it can assist you as well. If you need some help getting out of the dark side of sales, feel free to take me up on a complementary 30-minute coaching session. We can focus on getting you out of this rut. Schedule your free session here. All in all, I want you to be successful. I want you to go out and DO BIG THINGS!

The Sales Evangelizers, Donald Kelly, Sales Facebook Group

The Sales Evangelist Podcast, Donald Kelly, Sales Podcast

TSE 102: Why Selling Into LARGE Accounts Is Better Than Small Accounts.

The Sales Evangelist Podcast, Donald Kelly, Sales PodcastIn this episode I share my personal thoughts on why I feel selling into LARGE accounts is better than smaller ones. I’ve had the privilege of working with both and the overwhelming conclusion came to me that large accounts were so much more worth it. Why? Because of the fact that large accounts and small accounts tend to take the same amount of time to close, large accounts tend to have a bigger budget, they also offer easier way to up sell and the commission far exceeds that of the smaller accounts.

But you are probably asking yourself, why are more people not taking advantage of large account selling? Well, the answer is simple. It’s because of the fear of failure or thinking it is harder to get into larger than the smaller accounts. Another reason that ties closely to fear, is not knowing how. But since I am the lab test, I have experiment with both and the results were astounding. Here are my thoughts why and how you need to get started on larger accounts.

1. Requires The Same Amount of Time 

When I worked with large and small accounts, they took the same amount of time because I had to do the same work in both accounts. I had to identifying the challenges, meet with key decision makers, discuss budget, offer a demo, go through contract/negotiation and wait though the legal process (aka contract hell). When it was all said and done, both took about the same amount of time. I was so convinced that the smaller guys would take up less time to close and thus I could do more of those, but it was simply FALSE. Thinking they will close quicker than the big guys, is a deceptive concept that we tell ourselves as sellers.

2. Larger Budget to Spend

Larger accounts also tend to have a more decent size budget than smaller accounts and thus pricing never becomes an obstacle, especially when you clearly identify a solid solution to a challenge they are facing. When working with small accounts, their budgets are tighter and thus they are more willing to live with pain than to fix it. Larger accounts will also offer you the ability to do more up selling as you properly manage the account during the sales cycle and post sale.

3. Better Commission for You

Since the large accounts have a significantly bigger budget, (in my case the deal was 6 times greater than the smaller account), the commission will be much more favorable with the larger accounts. Understanding that they will take the same amount of time to close and the same amount of work, why would you do anything else? It’s a no brainer decision.

But how do you get into these lager accounts? The same way you get into any ideal company (small or larger). Start off in one department and grow from there. For instant, can you assist the HR department in phase one of your deal and then work your way into other departments for phase two and three. This will allow you to learn the account, key individuals and understand processes and challenges facing their business. Your champion will then be a able to introduce you to decision makers in other departments and thus have a warm introduction instead of cold calling.

 

Take it from me, large accounts offer the best bang for the buck. However, as I discuss in the episode, if your business model has been successful working with small accounts, keep working your plan. If you are just scared of starting, stop it and start hunting bigger accounts.

I would like to hear your thoughts. What’s your experience working with larger v.s. small accounts? Feel free to weigh in on the conversation in our private Facebook Group, “The Sales Evangelizers”.

Remember, DO BIG THINGS!