My practice also includes independent contractors who work on commission. Even though they identify themselves as working for a company, they are really running their own businesses. Unfortunately, most of the training they receive is on the product or service they are selling and virtually no training on how to run their businesses.
This morning I received a call from a potential client who is currently working in the insurance industry. He is considering changing careers from insurance to selling “a product” on a commission basis. Upon further questioning the reason for the career change (after almost 9 months in the insurance business) was “too much competition” and “selling an invisible product” was too hard. His thinking was that it would be much easier to sell something that a prospect could see and touch.
The question I was asked was “could you help me get off to a running start with this new product”?
Thus my title, “the grass is not always greener”….
This pertains to not only independent contactors selling on a commission for a company, but also to many small business owners who are thinking of changing direction because their business is not turning a profit.
Changing directions may be a good move, but first there has to be an analysis as to why the current position/business is not profitable. In most cases I have found that the foundation was not properly installed (lack of an accountability based business plan). The fault was not with the service or product, but with the overall approach to creating a profit by selling the product/service. Without an analysis as to why the current business is not working, the same mistakes may be carried on to the new venture.
The second issue I find is “unrealistic expectations”. Any new business takes time to develop. That includes developing and implementing a business and marketing plan, establishing realistic budgets for the first year and having the patience to follow through.
As I often stress in my blogs, “Change is the only constant in the life of a business”, the necessary change may be in the business or marketing plan and not in the product or service that is being offered. My other often- used statement is “be in business for yourself, but not by yourself”. In other words find a mentor/coach to work with you; the benefits will far exceed the investment.
Alone we can do so little, together we can do so much. Helen Keller
Nick J. Petra CFP Take the step, be courageous, and let Strategic Duck help you grow your business.
Make it a Successful today! www.strategicduck.com