12/4/2023-Spending Your Q4 Commissions

Playing for extra cash every 90 days is a golden opportunity to create freedom both today and tomorrow. Tithe at least ten percent of each commission check.

This year was rocky for many companies, so maybe your Q4 commission deposit won’t be as big as last year. Bummer…it happens. (Sales Rule number whatever: commission amounts don’t always go up and to the right.)

But if you and your company had a good year…great! That means a nice deposit is coming soon to your account!

Either way, Mr. Buffett’s quote is gospel: pay yourself before you pay others. Even if your Q4 commission is already spent, try to stuff a few morsels away in a mutual fund or savings account.

Later, when you’re feeling stuck with a bad product or manager, you’ll thank yourself for having built a financial cushion.

Today, begin to financially plan your 2024.

There are many knowns about your ’24 numbers: you know your quota and how your pipeline is tracking, which means you know the range of commissions you’ll earn.

Of course, much will change in the coming year, but the calculations you do now let you guesstimate how much you’ll be able to pay yourself with your ’24 commission deposits.

Creating financial comfort and independence means contributing to your stash before you reward yourself with toys. You can do both, but making the amount on your "Pay Me" line as big as possible is best.

Many theories are floating around about what motivates sellers. Some stupid pundits proclaim that pressure creates motivation and a strong desire to perform.

That’s a bunch of gobshite!

You can attest that your motivation comes from within; your drive comes from competitiveness and wanting to be fulfilled in everything you do. You’re motivated by commission checks, but it’s not the ultimate thing that drives you. You care more about being applauded for solving problems, providing customer value, and persevering despite all odds.

So why do said pundits suggest debt creates a motivated seller? Financial stress and anxiety are not long-term motivators. Mostly, financial anxiety creates numbing pressure that hinders decision-making and judgment.

Playing for extra cash every 90 days is a golden opportunity to create freedom both today and tomorrow. Tithe at least ten percent of each commission check…stuff it away, invest it, bury it in coffee cans hiding in the backyard…do anything you can to save money so you have no financial stress.

Successful sellers aren’t just winners at overcoming objections and convincing buyers to say "yes," they plan their entire careers to gain control of their destiny.

Yes, it sure is fun to get commission deposits into your account…imagine all that moolah waiting to be spent!

But wait…before you daydream of new cars, boats, electronics, and wardrobes, watch this simple 1-minute video that describes the power of compounded savings. This lesson uses simple math, but its value to you is too strong to ignore.

Yes, commission time is a good time to reward yourself, but… paying yourself first is the best reward because it gives you financial freedom quickly.

Sales is a volatile profession. But if you plan smartly along the way – and save as much as you can – then you earn the upper hand.