-by Scoop (October 20, 2017)
’m pretty sure Confucius never taught that all of the tomorrows barrel towards us as a great wind. However, the teacher might have agreed that many sales reps don’t consider the future and like driving cars on a freeway some of their lives may be on cruise control. Sure, many reps make long term plans for things like upcoming vacations as well as when to play that next round of golf or where a future family picnic will take place, but other young sales reps’ dictum might be “live for today because tomorrow is a mystery”.
So Here’s The Scoop: Having proudly been one of those young sales reps I, too, once lived, worked/played hard, made good money, thought the ride would never end and though I had an eye on the horizon it seems, looking back & in all honesty, that the events of the ‘day’ occupied many of my activities, thoughts & plans.
With that in mind I asked myself this week ‘IF’ I were young in the Land of Time in a marketing/sales/management (MSM) capacity and ‘IF’ I wanted to plan out my future and ‘IF” I still wanted to be in this industry up to the year 2038, what should I be doing now so as those next 20 years quickly pass, one day at a time – all will be well with my family and finances upon arrival in our future?
Now first understand that at my core I am an eternal optimist who believes life should be nothing but rainbows & puppy dogs (kittens, too), that every day is a parade and all meals are banquets befitting royalty. As such, I submit the following for those like-minded reps (anyone for that matter) who might be inclined to ponder their TS futures.
The very first thing I would do, from a career MSM perspective, is take a long objective look at ‘the biz’ and admit there is absolutely no guarantee that 20 years from now there will be anything, as it is today, resembling the timesharing industry.
Now don’t get me wrong because I would like to think ‘the biz’ will be around forever but as I have previously written – the entire worldwide ‘accommodations’ (aka: hospitality) market evolves and consumer options (vacation accommodations) continue to swell.
And speaking of a career in ‘the biz’, including a shot at a decent senior management gig (aka: C-Level), etc., I would also accept that as this industry further consolidates, at least in the USA, those C-Level slots will continue to diminish, the competion will be more fierce and that includes for those lower level often revolving-door marketing/sales management positions that many times don’t pay that well in the first place.
The next thing I would look at involves another inescapable tidbit, which is the cost of living between now and 2038. If, for example, my annual income today is $60,000 (gross) then 20 years from now I’ll likely have to have a yearly (gross) income approaching $120,000 (+ -) just to maintain today’s lifestyle.
That yearly increase in ‘cost’ should also be a caveat for commission-only timeshare sales peeps because at the end of the day each rep can only meet/greet so many sales guests and sell (close) so many slices of paradise at ‘X’ price and earn ‘X’ commissions.
Indeed, in the commission-only (1099) universe most reps’ income is not only stagnant but their future purchasing power actually declines each year, and because that is also true investing wisely is another critically important issue sales people must consider.
Of course in this example I’m pretending to be young and healthy and if I were I would also admit that the day will come when either myself and/or my spouse (kids, too) will have health issues and that in 2017, even for families with some type of health insurance, the #1 cause of personal bankruptcies in the U.S. – after all their savings and investments have been depleted (exhausted) – is their inability to pay their medical bills.
Imagine that – work all your life, make a decent living, pay your taxes – provide for your family and then after ‘X’ years you can be completely wiped out, bankrupt and dead broke. Now that I think about it maybe that is what happened to one or two of those greeters I’ve seen at the local Walmart or those seniors workin’ the counters at McD’s? Hey, I’m just sayin’.
And that leads me to deciding whether I would continue to work as an independent contractor (1099 rep) for the next 20 years or as a company employee with a timeshare developer who provides a full range of benefits such as life & major medical insurance as well as an employer contributing retirement plan, etc.
Well, now that I’m old, wise, all seeing & all knowing, if I were young again with proven ‘Creds’ I would only work with a developer as a 1099 independent rep ‘IF’ my cut (percentage) on each deal I sold/closed was YUUUGE!
Otherwise I’d opt for being an employee because on top of the benefits that some developers provide their ‘working-stiffs’ they usually pay their sales reps higher commissions (percentages), cash spiffs and bonuses than most developers who only offer a low flat-rate commission-only arrangement.
All that said (and a lot left unsaid) – I leave those of you who still have time left with my final thoughts. The younger you are the more time you wrongly think you have. The older you get the faster all time passes. The day is rapidly approaching when your future financial well being will greatly depend on what you did when you were in the ‘now’!
Good Luck Out There
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