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Now that we’ve all been shook from The Big Rona, truth and consequence emerge from the rubble.
Everyone’s taken a hit.
And for those fired, furloughed or laid off, it’s hard to imagine your next move.
In a booming economy, landing a solid sales gig with a reputable outfit takes a couple, few months.
And during a pandemic?
It won’t be that easy.
There’s no sugarcoating it, being out of work’s a kick in the ass in any economy.
Because of Rona, the job market is rife with competition and just getting an interview could take months.
But, it’s not quite the end of the world.
Although, it wouldn’t be bad idea to put on your Pandemonium hat and pack an Armageddon bag – just in case.
We’re going to be on this reverse joyride for a minute.
The 100% Commission Conundrum
So what can you do if you’re an out of work salesperson?
Besides looking for your dream gig as an ironic tiger tamer, have you considered working 100% commission?
Maybe, now’s the time to get creative on the job-front.
After all, “necessity is the mother of invention”.
And bills don’t pay themselves.
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First and foremost, 100% commission sales isn’t for everyone.
Before jumping in, talk to your other or a colleague who’s in it or has done it.
Then establish a 90 day road-map to succe$$ before signing anything.
Simply because, an eat what you kill sales role demands Capital C Commitment.
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If you’ve never worked 100% commission sales, do your homework.
Pick an industry you know and already have contacts in;
- Ideally, it’s the same one you’ve been laid off from
Run the numbers;
- Evaluate current hiring trends in that industry since some have suffered more than others
Calculate your savings and unemployment earnings VS bills and time it’ll take to land another base + commission job in your field;
- Base + commission work might be your jam but if your industry’s been ravaged, you need to pivot now
Taking a Chance on Change
So if you’ve made it this far and a 100% commission sales position still makes sense –
Here are:
- 32 legit companies that will pay you to work from home as of 3/9/2020 : https://finance.yahoo.com/news/40-legit-companies-pay-home-090340602.html
- 85 companies that are hiring as of 4/30/2020: https://www.themuse.com/advice/companies-hiring-during-coronavirus-covid-19
- 35 companies with work from home/ remote jobs as of 5/2/2020: https://www.flexjobs.com/blog/post/companies-posting-remote-work-from-home-jobs/
If you’re interested in one of these companies but don’t see any advertised Sales positions – get proactive.
Use Linkedin, find their Sales leaders, Senior-level HR or Internal Recruiters and do what you do best – sell yourself.
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As daunting as 100% commission sales is, you can do it by playing your cards right.
I’ve been laid off a couple of times, the worst of which, was 2008 during the financial meltdown.
That market was saturated with sidelined salespeople.
And, I’ve also been working in 100% commission sales capacity for a decade.
So, I can definitely appreciate the gravity of your situation.
The Commissionary Position
The upside of straight commission is you’re hired quickly and with the proper motivation and execution, you can see results within 90 days.
The key to early success in a 100% role is that you come in hot.
One of the biggest hurdles in a new 100% commission position is proving the concept and getting your first sale.
Many have given up and walked away from these jobs without ever having closed a single deal.
Avoid that pitfall by leveraging your existing book of business and industry contacts from the outset.
This audience already trusts you.
And it’s the key to proving the concept while building your confidence in a new environment.
The alternative is collecting unemployment, stalking the boards and applying for jobs in a cramped marketplace where salespeople are standing nuts to butts.
Motion creates emotion while sitting still yields zip, zilch nada.
The advantages of 100% commission are freedom and ultimately being your own boss.
And by time blocking, you can continue to look for salaried positions while you work all commission.
That is – if you still want to!
Sharks Patrol These Waters
There’ll always be companies looking to hire bodies at 100% commission.
Sure, it seems like an unfair scenario where they risk nothing and you do all the heavy lifting.
But, if you land the right gig with a reputable outfit that delivers on promises, your earnings are uncapped – bar none.
The downside is that scammers and unscrupulous characters thrive in this marketplace.
They can smell the hint of desperation and are primed and ready to pounce.
So vet these opportunities from each angle and every dangle, rinse then, repeat.
And when it looks too good to be true, that’s because it is.
How to Keep it 100%
1) Research each company thoroughly to ensure they’re legit. This includes googling them to verify they don’t have major pending lawsuits against them as well as checking BBB and scam alert/ complaint websites
2) Find current employees or contractors of the company on Linkedin and ask about their experiences and how long it takes to close deals
3) Don’t wait too long from losing your salaried position to embark on your 100% commission journey. Remember, it could take 90 days or more to close your first deal so you want to minimize the amount of time you go without a paycheck
4) Understand the company’s commission plan and how long after you close a deal you actually get paid
5) You’ll need health insurance. Plans differ from state to state but you can use freelancersunion.org as a starting point
6) Do not pay any money up front unless it’s for a professional license or certification that’s legitimately required for you to sell that product
7) Figure out which Sales Enablement tools they provide and what you need to procure independently
8) Don’t spend money on Sales Enablement platforms. There are plenty of free tools you can use to start and then upgrade later
9) Tap your book of business and referral network but first, read your previous Employment Agreement carefully for any non-compete clauses before contacting old clients. Consult an attorney if unsure
10) Before engaging, map out the territory and create a sales plan including a 90 day road-map to closing your first deal
11) Set up daily job alerts so you have fresh employment opportunities in your inbox every morning
12) Review the offer letter and comp plan with an old boss or colleague before handing over your social security number or signing docs
13) Brush up on basic sales skills using free content and templates online and on social
14) Consider using an accountability partner or a coach
15) GO!!!