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03-03-2016, 12:10 PM | #23 | |
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Exactly... it's like the infomercials on TV selling seminars on how to get rich in real estate or tax liens. If it was truly that great of a system, why would they advertise it and get competitors in the game.
For the "managing directors" making millions and talking to college grads, it's win win to recruit as many warm bodies as possible. They don't have any up front commitments, typically they only pay a draw and only pay for licensing if you pass. If you sell a few policies to friends and family then fail out, they keep the residuals. It may not be much, but multiply that by the multitudes of people they recruit and it's a lot. If you happen to be the one in a million guy who kills it and stays around, they still win and you get to be the one helping to recruit warm bodies. The problem with how life insurance is sold is pretty much the problem with how mortgages, real estate, and cars are sold. The buyer is tied to a long term contract or product while the sales guy is being paid up front. So there's a pretty fundamental disconnect - salesman is highly motivated during the process but has no real incentive to care what happens 2,3, 15 years down the road. All life insurance agents care about is that payments are made for the first 12 months, otherwise they lose part of their commission. Add to that the commission based compensation structure and you get the shady reputation of all these industries. People will say whatever it takes to make a sale in order to pay the rent. Quote:
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03-03-2016, 12:37 PM | #24 |
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03-03-2016, 01:07 PM | #25 |
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I'm in sales and have been for about 11 years. B2B for heavy equipment. I am not interested in selling insurance or anything that I don't believe in. With our business there is a limited number of potential customers, I need them for the long haul so it is our best interest to treat them fairly and get repeat business. I like setting my own schedule, travel, etc. and talk to my boss maybe a couple of times a month, generally when I call him with issues. Business I am in takes a lot of technical knowledge (which is where I excel) and less schmoozing (which I am not good at).
A good way to really tell if it is a good job (regardless of what you will be doing) is to ask to talk to 3-4 people that do it and interview them. If everyone has been there a max of 1-2 years and/or tell you many bad things but virtually nothing good then you know. If you don't have a job the risk is a lot lower as you don't have much to lose (at least if it is local).
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03-03-2016, 01:40 PM | #26 | |
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Op did your company not pay out bonuses this year or something? Don't dont it...
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03-03-2016, 02:24 PM | #27 |
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I just enjoy dealing with people and I wanna grow not only income but do something more active (dealihg with clients rather than sitting at a computer most of the time). I'm hungry man. Hungry for that growth.
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03-03-2016, 02:36 PM | #28 |
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Don't ever say THAT in OT. Just saying. See my pic above. I don't know if insurance sales gets you out to clients a lot. I will let someone with more experience comment on that. Complex B2B sales drives a lot of interesting customer face time.
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03-03-2016, 02:59 PM | #29 | |
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You prob won't be dealing with people except begging them to buy something in the first few years.
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03-03-2016, 03:05 PM | #30 |
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Was a financial analyst/project management. Now a Sales Analyst. I deal more with people now in the sense that I support the sales team. However, I don't interact on a business level. Not sure if that makes sense?
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03-03-2016, 03:15 PM | #31 | |
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That way you can already bring heaps of knowledge and better insight as you are making deals - if that makes sense. Which industry? Are you Sr level or mgmt level? I'd imagine that has business level interaction no?
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03-03-2016, 03:24 PM | #32 | |
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I was in the defense industry but it was slow to move up (among other things) in a huge company so I left. Now I'm in the semiconductor industry working for a smaller but very global company. They actually have a sales team here and the culture is different (less red tape). Like I said, I wanna be on the accelerated path. I'm soaking up as much as possible and learning here but I want to do more big picture stuff. Last edited by BMW F22; 03-03-2016 at 03:34 PM.. |
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03-03-2016, 03:56 PM | #33 | |
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I think Finance has far more predictable opportunities for stable growth. If you did transition into sales, I would go explore B2B opportunities, not B2C. |
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03-03-2016, 06:16 PM | #34 | |
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03-03-2016, 07:05 PM | #35 | |
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Stay put. Me = Sales. Line Sales Management. Senior Sales Management. Director+ and VP with experience in two industries. Multiple awards as an individual contributor and in management. #1 Salesperson and #1 Team leader in almost every company I've worked at. Leverage your analytical ability to become an exceptional sales person in your current industry. A sales person who is able to properly analyze more than what is going to happen in their given territory/area/region or whatever is worth their weight in gold. Read for 1 hour per day about your industry. Again, read for 1 hour per day about your industry. Learn your company inside and out. Learn every MISTAKE that has been made by your company in the last 3 years as well as the competitors. Learn the causes, the implications, and how each mistake was managed and overcome. Document EVERYTHING you do. Everything. From getting your car fixed to taking a crap, the job isn't done until the paperwork is finished. By doing this you will build an irrefutable legacy about your work. GET A MENTOR. Find someone who has trod the path you wish to successfully traverse. They don't have to be in your company or industry but this is preferred. My current mentor is the former CEO of an international chemical company that you would recognize if I named it. Not in my industry. Become a mentor to someone. By teaching, you learn. Learn to be political in a corporate environment...this is my huge opportunity area. I have to work on it consistently. Lastly if your aren't a hard charger, become one. I don't mean a jerk, I mean someone who won't become deterred by setbacks, strife, or just plain tiredness. Be indefatigable. I hope this helps you. PM me if I can help you in any way. Cheers-mk |
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03-03-2016, 07:14 PM | #36 | |
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03-03-2016, 07:30 PM | #37 | |
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03-03-2016, 10:57 PM | #39 |
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03-04-2016, 08:29 AM | #40 | |
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As someone who manages a sales organization, this response is concerning. The number one thing we generally look for in people who want to be in sales is initiative. I like that you came here seeking advice. Smart move. But, MKSixer proactively offered to be a mentor or sorts. To "discuss your career". That was an extremely generous offer - ones time and knowledge are two of the most valuable things they have to offer. Your response was that you would ping him with questions as they came up. I am really not trying to be a jack hole here and please take this as constructive, but the response I would have loved is "awesome thanks, do you mind if I pm to set up a phone call" or something that actively drives this forward. He has demonstrated here that he is knowledgeable and successful and I would be that his insight could be highly valuable. Your response felt reactive and being prepared BEFORE you have questions and before any one else asks questions of you is a big chunk of successful sales. /rant Anyway, please don't take this as an insult or anything. Take it as guidance for the future. I hire a lot of salespeople in high value sales and this is my observation on VERY limited information.
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03-04-2016, 08:43 AM | #41 | |
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03-07-2016, 12:43 AM | #42 |
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Interesting topic, in a similar situation myself. Currently work in financial advisory sales but want to try something else. Not really sure what else I can do with this kind of work experience ugh..
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