What have you done for me lately? That’s the world we live in after the great financial collapse of the 21st Century, especially for sales reps looking to make a change in their career. Years ago, a successful sales professional could write their own ticket when it came to compensation from their new employer. They held all the cards, or at least the most important one…a proven track record. Back then, it helped while negotiating a new deal, today it helps get an interview.
So what’s changed for so many corporations over the past few years? The same thing that’s happened to most people, cash flow isn’t as abundant as it once was. Too many relied on credit with the mentality that there was a ‘break glass in case of emergency’ option. Problem is, when everyone raced to smash the glass, they didn’t find any money left behind.
Today there are more sales professionals sitting on the sidelines than ever before. Between downsizing and not hitting their quota some are without employment for the first time in their lives and they haven’t been clued in to the new rules, so I will spell them out just in case they read this post. The first step is to change the mindset. You might have been a superstar before but no one cares. It’s like a MLB baseball player wanting a $20M/yr contract because they hit .320 the last couple of years. Oh wait…bad example.
If you’re in need of putting together your resume, first spend time thinking about your greatest accomplishments.
- What was the revenue you generated last year?
- What was it the last five years?
- How did you help your employer save money or time?
- How long did it take to get promoted or a raise?
Every sales representative is responsible for tracking their sales, activity, and results. If you’ve never been responsible to track these numbers, this project might take you a little longer. ‘Sales’ is a formula, always has been – always will be. How many phone calls did it take to reach how many people leading to how many appointments which resulted in how many sales? Figure out how much money you want and need, and work the formula backwards.
When it comes to negotiating your new compensation plan, don’t think about how things use to be or you’ll most likely be disappointed. Understand that companies don’t have excess cash like before; your base salary (if there still is one) will be less than what you think you’re worth. Suck it up; your prior success got you an interview, now it’s up to you to sell yourself on why you deserve the job.
Want to get praise?
Become a superstar from the get go, work hard to achieve rookie of the year honors, hit 110% of your quota. Stand out for what you’re doing now and stop resting on your laurels because nobody cares how many widgets you sold in 2005. Swallow your pride and know that if you’re as good a sales professional as you think you are, your W9 at the end of the year will reflect your talents and hard work.
What has your experience been? I’d love to hear your story.
Valid points Dave. Another paradigm shift is that ALL professionals need to see themselves as SALES professionals. That wasn’t a popular view in recent past for lawyers and other professional service providers, yet we’re seeing throughout the profession that the rainmakers (ie. lawyers and others who bring in clients) are the ones who get and keep their jobs. Even when partners are let go, it’s the one’s who aren’t sufficient “rainmakers”. All professionals in business today need to have and improve sales skills, whether they answer the phone at the firm, or have the corner office. Law students, new associates, and experienced attorneys should all brush up on sales skills to enhance their present and future business success.
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