Considering another sales position, please help me decide
 

I am currently a territory acct manager and have done really well in the 11 years I've been on the job. I'm responsible for four major product lines, a $19M quota and cover a huge geographic area. I'm busy all the time but I'm getting bored and tired of dealing with "challenges" day in and day out. There is another position opening up soon when the sales rep retires in October. I've been told the job is mine if I want it.

The job will focus on just one product line so I will have to become the local expert on it. The rest of the sales team will rely on me to close the deals involving that product line. The income potential is similar to mine but bad years means I make way less, great years means I can retire that much sooner. The real negative though is that I will only have one revenue stream versus the four I have now. The greater the risk, the bigger the reward.

The dude retiring hasn't really worked the job that much because he's been in retirement mode the past three years. I can look at it two ways; there's lots of potential or I'll be starting from scratch because there's nothing in the 90 day funnel. If I take the job, I'm going to ask for a 6 month draw.

What would you do?

What's the upside/downside of changing? It sounds like more or less the same job - sales - with less consistent income. Having said that, I am always for change - especially with work that is getting boring. What the heck . . .

+1 above..

I wouldn't, unless you were trying to make a name for yourself in the company, eyeing a promotion. Hanging your hat on ONE product could be the kiss of death. And you know they're not going to be happy with the status quo, they're looking at you to turn it up a notch. So not only is your income on the line, but your job too. You've got it good now, I'd stay put. Without a doubt.

Focus on making your current job better, smoother, more interesting... Treat it like a new job/new girlfriend for a month.

Agreed!

Thanks for the advice guys and gal. Not sure what I can do to make my job more interesting and enjoyable. My thoughts are to go out on top. The upside of staying is I have a pretty good funnel for 2012. The upside of moving on is it's an exciting opportunity.

I would go for the new job. There is a risk but also a reward. I believe the biggest plus will be the fact that you get to do something new after 11 (!) years on the same job. You need to change roles every 3-5 years to ensure you continue to grow. If you can change roles at the same company, that will reduce the risk greatly.

Another note on the risk ... you may mitigate that with a second bread winner in the family (which I think you have) and a conservative approach to personal finance. Both will give you more freedom and ultimately the chance for a better and more fulfilling career.

George

I stay and don't rock the boat. Invest some of your time and money in something else and make the money elsewhere. It sound like you have the system down to a science. Channel some of your time and energy in other ventures.

You had really be into this product line and really believe in it and a hube $$$ upside for this to pencil out.

In this economy? That scenario is certain death. You could wind up hating it with nowhere to go.

PASS

rjp

All good advice and that's what makes this decision so hard. I have been doing this job too long. Normally I do make a move every 3 - 5 years but I am making good money, have lots of autonomy and am well respected by peers and superiors. Plus, my customers like me enough to keep buying my products! To keep from getting bored out of my skull, I've joined a couple of professional organizations and am the board of one. Also, I'm in school to finish my MBA. Still there's something missing...

"a six month draw.."

what does this mean?

Wait until after the elections. make ur decision then.

rjp

I don't know your industry, but there has been a lot of consolidation & carnage out there over the last couple of years. The sales force always gets hit the hardest - with improbable quotas, reduced expenses & larger territories. Tread cautiously.

But of course, I know that burn out is a fact & I am fighting it myself. I am making a slow sideways drift into another segment of the industry to relieve it. And at 57, I am so specialized that I couldn't jump ships easily anyway.

Ian

A draw is a salary paid to a new-hire commissioned salesman to give him time to ramp up in a new position. Depending upon the company, it will be: a draw against future commissions (subtracted from it in other words) or a simple salary which is given for a specific short time frame.

Ian

Sorry, I used the wrong term. I'm not going to ask for a draw which is basically a loan that I'd have to pay back. I'm going to ask for a guarantee so that if I sell less than the guarantee amount, the company pays me the guarantee. If I sell more than the amount, I keep what I sell. In short, I get paid the higher amount, whichever it is.

When you don't have to pay it back during the ramp-up period, it's called a non-recoverable draw. You usually get to keep commissions earned in that period as well, as an extra bonus. After the non-recoverable draw period, it's a draw against future commissions. If you're 100% commission, they have to give you a draw because they need to withold taxes more often than you're usually paid commissions.

It would be helpful to know the industry.In this new economy you need to be as versatile as possible and continue to develop your skill set.In my industry I have worked with sales specialists that made very good money for a time and then things change and their specialty is not keeping pass with current trends.I would also not want to give up my own current customer base if things did not work out and you had to start over.I guess it really depends on your goals.If your bored is it good to stay at the same place or as a Sales Rep are you ready to take it to the next level and really go for it some place else.As a good Sales Rep. you are always in demand so I would be looking for a better opportunity and an Industry that has great growth potential in the remaining years you have to work.

Not sure about your industry but the strong sales guys I've worked with always seemed to be moving to the next best thing. Nothing wrong with 11yrs at the same place really, but it doesnt show aggressive or hungry. Again, nothing wrong with that, but when it's time to move on I think you'll be better served to have more contacts in different places.

I've worked with a few people that always seem to make their # and just sort of hang on. When it's time to find new work I wish them the best.

Figure out where you want to be in 3-5 yrs and then decide what will best position you to get there.

Good luck!

I guess it would be helpful if I did tell you what industry I'm in. I sell large medical devices with prices from $20k on up to $1.5M. The sales cycle is long, about 5 years, so I'm constantly prospecting. I'm both the farmer and hunter. This new job will have a much lower quota but the profit margins are higher. The products range from $15k to about $100k tops. The geography will be larger, more potential customers, most of whom I have not met so there's no relationship yet. This is purely a hunter position.

Both jobs include a decent base pay but an aggressive commission plan. It's about a 40/60 mix of base/commission. When I hit it out of the ball park, it's more like 30/70. I've achieved that many times and twice I won a trip to paradise. The potential for higher compensation is better with the new job but so is the potential to make less. What's the saying? "Sales is the easiest, lowest paying job and the hardest, highest paying job. There is no ceiling and often, there is no floor".