How to Start Your Own Sales Business as an Entrepreneur
There are many reasons why people choose a sales career. For some, their choices involve choosing a large or small sales company to work for. Others decide on which industry would best fit their needs and objectives. Still, others, find themselves in sales because they have no other choices and learn to love the freedom and income opportunities that a career in sales affords.
But there are those who are confident in their sales skills and have a burning entrepreneurial spirit that would make working for anyone else intolerable. These are the sales entrepreneurs that rely solely on themselves, their passion and their ability to close sales.
The Difference Between Being an Independent Rep and Owning Your Own Sales Business
Independent sales reps are sales professionals who sell the products or services of a producer but are not considered employees of the company or companies for whom they sell. In effect, they are often considered 1099 employees. While very similar to Independent Sales Reps, Sales Entrepreneurs differ in what they sell and in the relationships they have with the producer of the product or service sold.
Independent Sales Reps agree to the compensation plan that the product/service producer designs while a sales entrepreneur is usually the person who finds a product/service that is marketable, designs a marketing sales approach and forms a partnership that most often includes either a share in the profits or equity in the producing company. In short, a sales entrepreneur takes significantly more risks as he has a vested interest in each step of the product/service's lifecycle.
Also, an entrepreneur is often someone who has their own product/service who feels what they have is marketable. Instead of trying to sell the product to another company or hiring an independent rep to sell her product, the sales entrepreneur represents herself and sells her product/service.
What You Should Prepare for Before Starting Your Own Sales Business
Being on your own is not for the faint of heart. These professionals have no one but themselves to rely on for their income and no one to blame for their failures. They need to be extremely strong with their time management skills as well as their networking skills. Being 100% on their own, sales entrepreneurs need to be self-motivated, self-directed, focused and be willing to work long hours and long weeks.
This career is certainly not for everyone. In fact, few sales professionals would ever even consider starting a business whose success is entirely on their shoulders. The perceived security of working for someone else or at least representing an established manufacturer is a powerful draw in the uncertain world of sales.
The Rewards of Having Your Own Sales Business
Ask enough sales professionals about their most pressing issue with their job is and you are certain to hear "the company I work for..." Their issues will vary but many sales professionals do have issues with their employer. Either the pay is not good enough, their sales manager micromanages, the competition is driving away profit or any other number of complaints. Yet if you ever hear a sales entrepreneur complain about their boss or company, you will know that they are only complaining about themselves.
A sales entrepreneur is fully free to make any and all decisions, to make course directions or to try a new strategy. If something is not working, they can change it immediately without seeking the permission of anyone else. While most sales professionals enjoy autonomy and freedom, nothing compares to what a sales entrepreneur experiences on a daily basis.
Once an entrepreneur earns success, their profits are not divided up between others. Unless the entrepreneur has employees, every cent they earn, they keep. Certainly, not everyone is successful when going on their own, but many are. And those that realize only moderate success are generally more satisfied with their occupations than others.
The funny thing about those who become a sales entrepreneur is that even though they may fail and have to find employment with an established business, it usually isn't too long before they are out on their own again, chasing success on their terms.