Thriving in a Commission-Based Sales Career for New Graduates: Expert Tips and Insights
Starting a career in sales is a highly rewarding but intimidating journey, especially for fresh graduates and for a commission-based role. Although it offers unique opportunities to earn substantial income, develop various skills, and advance quickly in the corporate world, thriving in these roles requires a strategic approach.
If it’s your first time seeking commission-based sales careers for new graduates, read this guide. We’ll provide you with helpful insights you can use, from understanding the commission structure to learning the key practices you need to thrive as a beginner.
Key Tips for Succeeding in a Commission-Based Sales Career for New Graduates
Pursuing a commission-based career as a fresh graduate is exciting but challenging. To thrive in this competitive environment, adopting strategies that will help you perform consistently and build a successful career is essential.
Here’s how you can excel in the industry as a fresh graduate.
Build strong relationships
Success in sales often relies on your capacity to establish and maintain strong relationships with clients, partners, suppliers, and colleagues. Focus on developing trust and rapport with these parties to earn repeat business and referrals. It would also help to cultivate relationships within the company and industry. Doing so will help you create a network that can open up new opportunities to provide valuable support.
Embrace continuous learning
The sales industry is fast-paced, with new techniques, tools, and trends emerging regularly. One of the best ways to stand out and be ahead of the competition is to commit to continuous learning. You can attend workshops, read industry-related publications, and follow thought leaders in the industry. Staying updated with the latest practices and insights will keep you at the forefront of the field, allowing you to enhance your effectiveness in the role every time.
Develop a strong resilience
Rejection is common in sales. Without a resilient mindset, a no from the client will discourage you from moving further, and you will see each failure as a sign to stop rather than an opportunity to learn and improve. Developing resilience will help you recover from these challenges and maintain a positive attitude. Embrace each setback as a tool to refine your approach. Over time, this mindset will not only help you achieve your goals but also build your confidence.
Adopt a customer-first approach
Always prioritize what your clients need, their pain points, and what they want to achieve. Thriving in the industry requires a deep understanding of your customers and an approach that centers around their specific requirements. Constantly tailor your pitch to provide solutions that genuinely benefit them instead of selling them items for profit. Doing so allows you to deliver value to your customers, build trust, and increase your chances of closing deals and gaining repeat business.
Hone and improve your time management
Time management is a critical skill in commission-based sales roles. On top of meeting clients, you must balance prospecting, follow-ups, and administrative tasks. Learning to prioritize your activities and manage your time effectively will increase your productivity and ensure that you focus on the tasks that impact your sales performance most.
Be tech-savvy
Many sales roles today require familiarity with digital tools, customer relationship management (CRM) systems, and other technology. As beginners, you must be comfortable using these platforms to stay ahead of the curve. These programs will allow you to manage leads, track performances, and communicate with clients effectively, among other uses. Incorporating them into your strategies seamlessly will help you manage your time better, allowing you to work smarter, not harder.
Leverage mentorship programs
No matter how good you think you are, there’s always room for improvement. One way to learn and elevate your sales approach is to seek mentorship and coaching opportunities within your organization or industry. They provide excellent platforms for you to gain insights, feedback, and guidance that will help you navigate the complexities of the role.
The good news is that you can also seek these opportunities outside your company. Many third-party services provide training programs that cater to sales careers for new graduates. They help aspiring professionals in this role thrive in such a fast-paced environment. Visionary Concepts provides valuable career development services in San Francisco, which is known as among the many business hotspots in the country.
Understanding the Commission-Based Structure
If you’re yet to land your first commission-based sales role and are still hesitant about proceeding, the following will help you understand the structure more. By understanding the commission-based structure better, you could be more inspired to succeed in the field.
Unlike traditional roles where you earn a fixed salary, commission-based work primarily rewards based on performance. The more sales you close or make, the more money you earn. Today, there are many types of commission-based structures available. These are some of the most common ones you may encounter.
Base salary plus commission
In this structure, an employee receives a fixed salary and commission for each sale, typically a percentage of the sales value. It provides some financial security through the base salary while incentivizing employees to make more sales to increase their total earnings. For example, a sales representative might earn a base salary of US$30,000 annually plus a 5 percent commission on all sales.
Straight commission
Here, an employee earns income solely based on the sales they generate, with no base salary. This type of commission pay is high-risk, high-reward. Successful employees can earn significantly more than they would with a base salary, but there’s also the potential for low or no income during slower sales periods.
Graduated commission
This structure rewards higher performances with increasing commission rates. As an employee makes more sales, their commission rates increase on additional sales. Companies often use this structure to incentivize employees to exceed sales targets.
Benefits of a Commission-Based Career
Choosing a commission-based role can be a transformative decision for fresh graduates. These positions may come with challenges, but they also offer aspiring professionals a wide range of benefits.
Here are some of the key benefits of pursuing a commission-based career:
Unlimited earning potential
A commission-based sales role is a highly rewarding career because it offers immense earning potential. Unlike traditional salaried positions where income is capped or fixed, these jobs can reward employees directly based on their efforts, especially with the base salary plus a straight commission structure. As mentioned, the more sales closed, the more you earn.
For hardworking individuals who are willing to put in extra time and effort, commission-based roles provide the opportunity to increase income significantly. The best part is that the potential to earn is virtually unlimited, especially if you’re working within a high-demand field or business hotspots like San Francisco. Many aspiring professionals seek commission-based work in San Francisco because it offers various sales opportunities across different industries, providing many possibilities to earn big.
Flexibility and autonomy
Commission-based roles often come with a high degree of flexibility and autonomy. If you want more control over your work environment and schedule, this is an excellent option for you.
In many commission-based roles, you won’t be confined to a strict nine-to-five schedule or specific location. Instead, your company or client will allow you to work on your own terms. This is true with sales jobs that require face-to-face meetings with individual clients or those with multiple target areas.
Moreover, having complete control means you have the freedom to fulfill other commitments, like family, education, or personal projects. This allows you to balance your professional and personal life more effectively.
Skills development
A sales role offers a breeding ground for both personal and professional growth. The job will likely require you to develop, practice, and refine various skills to close more deals and succeed in the field. These skills are not only valuable in the context of sales but are also highly transferable to other areas of your life and career. Some common skills you may develop or improve with this role include time management, relationship building, and problem-solving, all of which you can use outside the corporate world.
Immediate performance recognition
Achievements in commission-based roles are often recognized immediately. When you exceed your sales targets or significant company milestones, you can be rewarded with financial bonuses, incentives, or even public recognition within the organization.
Unlike salaried roles, where promotions and raises may be tied to annual reviews or certain company policies, commission-based work allows for real-time rewards that directly reflect your hard work. This instant gratification system can motivate you to consistently perform at your best, knowing your efforts will be swiftly rewarded.
Best Examples of Commission-Based Roles
There are many types of commission-based sales careers available for new graduates. Each of these roles offers different experiences and challenges but nearly the same immediate rewards and growth opportunities.
Real estate agent
Real estate agents earn commissions by helping clients buy, sell, or rent properties. Their commission is typically a percentage of the property’s sale price, making the potential earnings high. However, this role might require strong networking skills and the ability to close deals effectively.
Insurance sales representative
There are various types of insurance you can sell and earn from, including life, home, and auto. Commissions are often earned based on the number of policies sold and usually include bonuses for reaching certain targets. Success in this role will depend on building trust and maintaining lasting client relationships.
Retail salesperson
Salespeople in establishments like branded stores often earn commissions based on their performance or the number of items sold within a specific timeline. This role is perfect for those with strong interpersonal skills and the ability to persuade customers to purchase.
Financial advisor
Financial advisors earn commissions by selling investment products and services to clients. This role requires a thorough knowledge of financial markets and the ability to tailor investment strategies to their individual clients.
Telecommunications sales representatives
In this role, sales representatives sell telecom products and services, like mobile plans and internet packages. Commissions are based on the number of sales or subscriptions secured. It’s a fast-paced job that demands excellent communication skills and adaptability.
Begin a Commission-Based Sales Career
A commission-based career is a highly rewarding but challenging field. The key to thriving in a fast-paced career like this is understanding the unique demands of an industry and its clients. Commit to continuously developing the necessary skills, and always be disciplined in handling your workflows.
Visionary Concepts offers career development services tailored to help aspiring professionals, like new graduates, succeed in sales roles. Whether you’re just starting or looking to advance in the field, our training programs and mentorship opportunities are designed to elevate your sales approach. We offer these services for commission-based sales roles in the Bay Area and other key parts of San Francisco.
Take the first step towards a successful sales career with Visionary Concepts. See our many growth opportunities today.