Blog post for WSP
WARNING! This blog is for people that are highly motivated to make as much money as possible and have extremely thick skin. This is not for most people including sensitive people, lazy people, lower to average IQ people and those that refuse to be open minded, agreeable and very positive.
Where it all started. Rich dad poor dad got me thinking like an entrepreneur but WallStreetPlayboys gave me actionable advice to set me on the right track. http://wallstreetplayboys.com/ Their overall concept: It’s selfish to not strive to create massive wealth because with wealth you can either help those in need or live the life you always wanted to. Ask Dan Pena what he thinks about money: https://www.youtube.com/watch?v=mSi2iYfOWn8 - Pretty much the only way to do this is to create a business in which sells a product or service.
Why do we fail or fail to start? Most people don’t succeed because they lack belief in their self (fear) or they think because it failed that they should give up for some reason…??? - https://www.youtube.com/watch?v=OAwDg_9yK8A - Listening to their parents, teachers and low quality friends (if they are not rich don’t take financial or business advice from them) They lose focus too often and get distracted -https://www.youtube.com/watch?v=f5vYJmQlzV0 - The best time to start a business is around middle to high school when you have little to no bills or obligations. So with that said, if you’re an adult then you obviously have to get a job to survive on your own.
The only job field to get rich. Sales is the most transferable business skill to have and it is the lifeblood of a business so you have to get the experience one way or another. It also can help you in your friendships, relationships with family members and dating as well. - http://wallstreetplayboys.com/you-dont-want-to-sell-too-bad/
B2B sales can pay higher than most experienced doctors or lawyers but it takes some time to get there: The way to build experience is through a very entry level sales role such as door to door sales such as solar panel sales which has a multiple 6 figure potential or starting out at a call center that has a commission structure. Enterprise software sales have shown to have the highest quality of life out of any career in the sales world. Typically you need to live in Tier 1 or tier 2 major city to have a long career in software sales.
Where the money is made: Average on target earnings of an Enterprise AE is $350,000/year and many make millions. Many of these people work at home once they make it to the Enterprise Account Executive level. - http://wallstreetplayboys.com/enterprise-sales-a-legitimate-career-to-get-rich/ Typically you need to either move from a beginner sales position to a BDR (Business development rep) or SDR (Sales development rep) to be an account executive. Businesses don’t always treat their job titles the same and some are even backward but typically a BDR will do cold calls and an SDR will do warm calls setting up appointments for the ISR (Inside sales rep) or the AE (Account executive). AE’s start at SMB AE (Small-Medium Business AE) then move to MM-AE (Mid-Market) and finally the Enterprise AE.
Side not: VP’s can be salaried at 400k but why limit your potential to make more unless this gives you much needed time to work on your business when you get home.
* The sales ladder. With a Bachelors degree you can pretty easily be a BDR at a software company but without that degree or experience the ladder looks like this: OTE means the estimated total amount you should make for that year with base plus commissions.
Call center sales or door to door sales: - PAY - Anywhere from min wage to $12 per hour + commission to 100% commission Call center with a commission structure or door to door sales. Start with door to door companies such as Cutco knives, Kirby vacuums, penguin replacement windows, solar panels, Blendtec blenders, etc..) Do for well for 3-6 months max.
Call centers typically read from a robotic script that’s what differentiates them from BDR’s. If you’re smart and hardworking then I would highly recommend taking a life cheat code and sign up to be a partner https://www.partnerstack.com/ - Here are on a strict commission pay structure and will get paid for any revenue you bring in to the variety of software companies you can sell for. What’s really unique about this is that you get immediate software sales experience which skips multiple years of hustling at high call volume low-level places and you can sell for as many companies as you want which give you a broad range of experience in software sales.
Generic BDR - PAY - Varies widely but typically $12 - $16 per hour + commission The next step up is an entry level BDR role at any business that does high volume cold call sales typically at a place that has a very high turn over rate. Many companies will use a dozen different title such as sales ambassador any BS title that is the same function as a BDR so be aware of the job requirements and description which really depicts what your real title is. Again this is a dreadful grind but do well for a max for 3-6 months.
Software BDR/SDR - PAY - Depends on experience and negotiation skills but typically 30k - 60k base + commission with OTE around 70k - 110k If you killed it in your last BDR or SDR role and can get an amazing reference then you might possibly have a shot at being a BDR or SDR at a software/tech company. At this point, you have about 6-12 months of sales experience and you should have as many solid connections to salespeople and managers as possible on your LinkedIn your phone and as friends as possible. It’s a small world and a simple phone call from the right guy can land you an interview.
Now if you’re smart you will always have your LinkedIn optimized so that sales recruiters can find you. These people can make anywhere from $5,000 to $15,000 per person they place in a tech/software job so they are super motivated to help you land a job in that realm. Don’t forget to absolutely practice interviewing and film yourself to review. You absolutely must crush-this-interview since your competition is guaranteed to be super competitive. If you live in Austin, Boston, Chicago, Denver, LA, NYC or Seattle then check out https://builtin.com/ - Do extremely well for about 6-12 months here and you have a shot at the glorious AE role.
Software Account Executive - Pay- Depending what level of AE you are 70- 100k base with OTE being into multiple 6 figures to multiple 7 figures So the last step is to move the AE role. Typically you can move up inside your own company which is by far 10x easier than anything else but if not then prepare to hustle your butt off working with recruiters and applying to every company possible. You should have a killer Rolodex of people by now and getting in by reference should be your primary method. Also at this point, many recruiters will have already reached out for you but they are sending you to the shark tank to be prepared for battle if you don’t have a personal reference from someone a salesperson or manager inside the company you are applying for.
So with that said get your butt moving because if you’re not moving forward then you’re falling behind! Don’t forget to subscribe below to get the insider scoop from CEO’s I interview and some hidden insider secrets that I only share on my email list.
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