If you are on a basic salary now £25K, £30K, £50K, £100K whatever, you will probably see that as your status level and pursue an increase. After all you started lower and are now above people below you.
So, we fall into the trap of the person on £30K basic is looking for a job that offers them £35K basic. I fell into this trap myself.
I now see status in sales as how much you earn. I consider you successful in sales when you have topped £100,000 per annum income. Let us face it you haven’t even managed to sell your time for even £10K per month, then you have not mastered sales yet.
I also do not consider that you have a good contract unless it gives you 50% of the net margin AND has a residual built into it. What I am saying here is that even if you earn £200,000 per annum you are still failing if you are delivering £Half million or more of net profit to the company you are contracted with.
Think of Bill Gates, Warren Buffett, Jeff Bezos, Elon Musk, Alan Sugar, Richard Branson. Did any of these people EVER consider their status as their salary level. No, of course not and that is why with actually several million other people they achieved wealth by often having less skills than you. They just thought of money, status and business in a different way.
Now if instead of looking for who will pay you the highest basic. Look for those sectors and companies that are growing fast in growing industries with high margins. They are usually quite different. For about a decade the highest earners in sales were in investment sales. It was also the sector that paid the lowest basics in sales. See my point, the two different focuses take you to a different sales career path. Ironically the ones seeking a basic for security tend to work n the less secure sectors.
You also need to be strong, confident, motivated and above all self-disciplined. If you are not, go for a basic every time. Of those that fail on such a high-income formula it is rarely to do with their lack of sales skills. It is always to do with their lack of ability to manage themselves without a boss telling them what to do.
If you are on a salary you are working for someone else’s business and goals. They control and direct you by giving you a basic which you could lose and are dependent on. That is always low status in my book. You need both a fair and high percentage of the margin on each deal you make PLUS a residual so that you keep earning on work you did once. This is what separates the high earners in sales from the rest.
Alex McMillan (44) 07525-916574 email@example.com