How To Live On Commissions

Once out of school - whether you went to a traditional college or an online university - and into the real world, everyone has to go out and earn a living. This mature way of dealing with life has led many people to enter different professions – sometimes according to their passion and sometimes, according to what their situations call for. Some young and some old, workers all fill the many positions that are offered by the corporate and private business entities, making economies move and grow.

One of the many human resource positions that are responsible to contributing most of the revenues of a business entity is the selling agent. This particular position could be disguised in a myriad of different titles – from business development associate, sales merchandise manager, to sales director. If you are a sales agent, your remuneration is performance-based. This means that your financial status is unstable and dependent on each sale you make. So the question is: How do you comfortably live on commissions? Read, practice and preach the following steps towards a more comfortable, worry-free financial management plan for the sales warrior in you.

  1. Are you in? Are you competitive? Are you hungry for success? Do you mind walking in an unknown office and talking to unknown people just to pitch a sale? Do you have enough guts to make a cold call and talk directly to the decision maker? If your answer in any of these questions is a no, then re-think your profession. You might be in the wrong career and this directly and strongly influences your chance for success.
  2. Know yourself. Even if you are in the right job as a sales person, you still have your limits, style and forte. Know what works best for you and make it a point to focus on the things that do, to deliver the ever needed results.
  3. Do your math. Every company has its unique rule and commission shares. Organize your computation and know exactly how much you are getting in every sale that you make. Knowing your cash-flow will make it easy for you to manage your expenses.
  4. Live within your means. Keep tabs of your expenses and set a monthly budget within your cash inflow. Prioritize your mortgages, loans and familial obligations. If you are making $5,000 a sale and you are averaging 2-3 transactions a month, keep your spending budget within this limit. Do not make any hasty, impulsive, unnecessary purchases as this could lead to a downward spiral habit that can lead your pockets dry and busted out.
  5. Piggy it up. Save, save, save! Because of your financial instability, you have to make it a lifestyle out of saving for the rainy days. Be sure to have enough funds, for everyday expenses and for emergencies, ready and available when the time calls for it.
  6. Grow your means. Living life to the fullest indirectly means spending a lot of money. For you to enjoy life and spend quality time with your family, you have to do everything you can to excel in your profession as a salesman. As you close more deals and improve your standing within your company and most especially with your outside clients, you will have all the money that you need for your usual obligations, and more.

No matter how many different titles there are, the salesman only has one job description – to sell products or services. These people are economic field warriors who do everything they can to make the sale and meet their quotas. With these steps, and by regularly enhancing your skills through online business classes, you can live comfortably on your sales commission.


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