Hi all;
As you may have noticed, the Penny Pincher is looking for a sales rep to sell both print and online ads.
I thought I'd write a note about working for commission, as it is often misunderstood and many find the idea daunting.
First off, let's deal with the down sides: It's not a regular pay cheque, to be sure: At worst, you can put in a forty hour week and see little to nothing to show for it (More on that below)
Next, starting off can be tough, especially if you don't already have an established client base.
Lastly, it's not a job for everyone: You have to be "on" all the time when you're working: Each time you decide to slack off or take it easy at work (And how many of us have hid behind a monitor or in a stock room to slack off for a bit at some point in our work lives ? ), you are directly costing yourself money. Commission-based work is definitely not for everyone.
Before I go into the upside, a little about my own experience; I've worked commission sales in retail (Radio Shack), news paper (Montreal Downtowner) and Internet sales (Internet Direct, Passport Online, plus several of my own projects) - So it's not like I'm writing about what I think sounds best or what "should" work: I've been there, done that and made a fair chunk of change doing it
So, on to the good sides:
There's a saying in commission sales: "You write your own paycheque" - This is the truest and most basic principle of working on commission: The more you sell, the bigger your pay cheque. When I worked for Radio Shack, that was back in the day when their brand name was Tandy and Realistic and they weren't exactly hot competition for Sony, Pioneer and IBM (To name a few) - *AND*, my commission rate was only 7.5% - BUT, I saw several two week paycheques over $5,000
Next: Selling ad space is not like selling retail: Not only do you get paid a commission for the up front sale, but you get a residual commission on renewals. So, while the PP's introductory commission is 75% for the first month (Which, I believe, will slide down to the standard 25% after your third month), you get a 10% residual commission on each renewal. Why do I point this out, aside from it being extra money ? Because it addresses the "regular pay cheque" issue: Once you have a series of accounts lined up and renewing on a regular basis, you'll find your paycheque is much higher than you ininitally expected, simply because of your account renewals.
A smart sales person will not only go for the big, up-front one-year contracts, but also several three month contracts, as well, for that exact reason: To establish a regular set of renewal commissions that come in to boost the pay stub.
Make no mistake; If you're thinking of starting off in the commission world, it can be tough, but it is a rewarding career: It's equally nice to know that while your friends and colleagues may work their rears off during their forty hours a week, their paycheque is going to be the same, week after week. You, on the other hand, can have a really good streak after the first two days and decide to take an extra day or three off because you know you're bills are covered - or simply keep on going to make that pay cheque even bigger than it already is.
If this sounds like a sales pitch for the position, it probably is, but my point being that some people ignore commission jobs simply because they're not aware of all the details about them. You may find yourself pleasantly surprised