Sales Commission Quotes

But as incentives go, commissions are tricky. First of all, a 6 percent real-estate commission is typically split between the seller’s agent and the buyer’s. Each agent then kicks back roughly half of her take to the agency. Which means that only 1.5 percent of the purchase price goes directly into your agent’s pocket. So on the sale of your $300,000 house, her personal take of the $18,000 commission is $4,500. Still not bad, you say. But what if the house was actually worth more than $300,000? What if, with a little more effort and patience and a few more newspaper ads, she could have sold it for $310,000? After the commission, that puts an additional $9,400 in your pocket. But the agent’s additional share—her personal 1.5 percent of the extra $10,000—is a mere $150. If you earn $9,400 while she earns only $150, maybe your incentives aren’t aligned after all.

You need to have a Why Having a “Why” whatever it is, becomes food. It makes your dreams become more urgent.

The 30-Day Rule states that the prospecting you do in this 30-day period will pay off for the next 90 days. It is a simple, yet powerful universal rule that governs sales and you ignore it at your peril. When you internalize this rule, it will drive you to never put prospecting aside for another day. The implication of the 30-Day Rule is simple. Miss a day of prospecting and it will tend to bite you sometime in the next 90 days. Miss a week and you will feel it in your commission check. Miss the entire month and you will tank your pipeline, fall into a slump, and wake up 90 days later desperate, feeling like a loser, with no clue how you ended up there.

The process which, if not checked, will abolish Man goes on apace among Communists and Democrats no less than among Fascists. The methods may (at first) differ in brutality. But many a mild-eyed scientist in pince-nez, many a popular dramatist, many an amateur philosopher in our midst, means in the long run just the same as the Nazi rulers of Germany. Traditional values are to be ‘debunked’ and mankind to be cut out into some fresh shape at the will (which must, by hypothesis, be an arbitrary will) of some few lucky people in one lucky generation which has learned how to do it. The belief that we can invent ‘ideologies’ at pleasure, and the consequent treatment of mankind as mere ulh, specimens, preparations, begins to affect our very language. Once we killed bad men: now we liquidate unsocial elements. Virtue has become integration and diligence dynamism, and boys likely to be worthy of a commission are ‘potential officer material’. Most wonderful of all, the virtues of thrift and temperance, and even of ordinary intelligence, are sales-resistance.

Salespeople on commission, for example, are seldom sensitive to the costs of the sales they produce.

Musk became increasingly frustrated with the company’s practices, especially the way it relied on an aggressive sales force that was compensated by commissions. “Their sales tactics became like those schemes that go door to door selling you boxes of knives or something crappy like that,” Musk says. His instincts had always been just the opposite. He never put much effort into sales and marketing, and instead believed that if you made a great product, the sales would follow.

Underneath the helmet was something neon orange [...], a windbreaker that was almost brighter than the stadium paint. [...] "Dan commissioned them her first year here. She said she was tired of everyone trying to look past us. People want to pretend people like us don't exist, you know? Everyone hopes we're someone else's problem to solve." Nicky reached out and fingered the material. "They don't understand, so they don't know where to start. They feel overwhelmed and give up before they've taken the first step." Nicky gave himself a small shake and smiled, melancholy instantly replaced by cheer. "You know we donate a portion of ticket sales to charity? Our tickets cost a little more than anyone else's because of it. [...]

The faux university also did not have professors, not even part-time adjunct professors, and the “faculty” (as they were called) were certainly not “the best of the best.” They were commissioned sales people, many with no experience in real estate. One managed a fast food joint, as Senator Marco Rubio would point out during the March 3 Republican primary debate in 2016. Two other instructors were in personal bankruptcy while collecting fees from would-be Trump University graduates eager to learn how to get rich. Trump

My main working skill was Trade. The development tree for this skill featured at least thirteen different branches, including things like: Contracts, Clan Contracts, Direct Sales, Knowledge of Market, Management, Wholesale, Commission Contracts, and so on and so forth…

She asserted that Europeans like them were robbers with guns who went all over the world stealing other people's land, which they then called their plantations. And they made the people they robbed their slaves. She was taking a long view of history, of course. Tarkington's Trustees certainly hadn't roamed the world on ships, armed to the teeth and looking for lightly defended real estate. Her point was that they were heirs to the property of such robbers, and to their mode of thinking, even if they had been born poor and had only recently dismantled an essential industry, or cleaned out a savings bank, or earned big commissions by facilitating the sale of beloved American institutions or landmarks to foreigners.

One such middleman is a South African security researcher based in Thailand who is known in the security community by his hacker handle “The Grugq.” The Grugq brokers exploit sales between his hacker friends and government contacts, pocketing a 15 percent commission per transaction. He only launched his business in 2011, but by 2012 sales were so good, he told a reporter he expected to make $1 million in commissions.

Lower prices led to more customer visits. More customers increased the volume of sales and attracted more commission-paying third-party sellers to the site. That allowed Amazon to get more out of fixed costs like the fulfillment centers and the servers needed to run the website. This greater efficiency then enabled it to lower prices further. Feed any part of this flywheel, they reasoned, and it should accelerate the loop.

in sales, activity drives everything—that’s the law. Activity is the hard work of sales and it is the price you pay for your commission checks. Activities include: Cold calling, first-time visits, follow-up calls, product demonstrations, walk-throughs, test drives, site visits, open houses, tours, presentations, proposals, referrals, direct mail, and so forth. The fact is, if you have enough activity, you will at least sell something, even if you do everything else wrong. If you have no activity, but do everything else right, you will sell nothing.

Bezos had seemingly made up his mind that he was no longer going to indulge in financial maneuvering as a way to escape the rather large hole Amazon had dug for itself, and it wasn’t just through borrowing Sinegal’s business plan. At a two-day management and board offsite later that year, Amazon invited business thinker Jim Collins to present the findings from his soon-to-be-published book Good to Great. Collins had studied the company and led a series of intense discussions at the offsite. “You’ve got to decide what you’re great at,” he told the Amazon executives. Drawing on Collins’s concept of a flywheel, or self-reinforcing loop, Bezos and his lieutenants sketched their own virtuous cycle, which they believed powered their business. It went something like this: Lower prices led to more customer visits. More customers increased the volume of sales and attracted more commission-paying third-party sellers to the site. That allowed Amazon to get more out of fixed costs like the fulfillment centers and the servers needed to run the website. This greater efficiency then enabled it to lower prices further. Feed any part of this flywheel, they reasoned, and it should accelerate the loop. Amazon executives were elated; according to several members of the S Team at the time, they felt that, after five years, they finally understood their own business. But when Warren Jenson asked Bezos if he should put the flywheel in his presentations to analysts, Bezos asked him not to. For now, he considered it the secret sauce.

What is a “pyramid?” I grew up in real estate my entire life. My father built one of the largest real estate brokerage companies on the East Coast in the 1970s, before selling it to Merrill Lynch. When my brother and I graduated from college, we both joined him in building a new real estate company. I went into sales and into opening a few offices, while my older brother went into management of the company. In sales, I was able to create a six-figure income. I worked 60+ hours a week in such pursuit. My brother worked hard too, but not in the same fashion. He focused on opening offices and recruiting others to become agents to sell houses for him. My brother never listed and sold a single house in his career, yet he out-earned me 10-to-1. He made millions because he earned a cut of every commission from all the houses his 1,000+ agents sold. He worked smarter, while I worked harder. I guess he was at the top of the “pyramid.” Is this legal? Should he be allowed to earn more than any of the agents who worked so hard selling homes? I imagine everyone will agree that being a real estate broker is totally legal. Those who are smart, willing to take the financial risk of overhead, and up for the challenge of recruiting good agents, are the ones who get to live a life benefitting from leveraged Income. So how is Network Marketing any different? I submit to you that I found it to be a step better. One day, a friend shared with me how he was earning the same income I was, but that he was doing so from home without the overhead, employees, insurance, stress, and being subject to market conditions. He was doing so in a network marketing business. At first I refuted him by denouncements that he was in a pyramid scheme. He asked me to explain why. I shared that he was earning money off the backs of others he recruited into his downline, not from his own efforts. He replied, “Do you mean like your family earns money off the backs of the real estate agents in your company?” I froze, and anyone who knows me knows how quick-witted I normally am. Then he said, “Who is working smarter, you or your dad and brother?” Now I was mad. Not at him, but at myself. That was my light bulb moment. I had been closed-minded and it was costing me. That was the birth of my enlightenment, and I began to enter and study this network marketing profession. Let me explain why I found it to be a step better. My research led me to learn why this business model made so much sense for a company that wanted a cost-effective way to bring a product to market. Instead of spending millions in traditional media ad buys, which has a declining effectiveness, companies are opting to employ the network marketing model. In doing so, the company only incurs marketing cost if and when a sale is made. They get an army of word-of-mouth salespeople using the most effective way of influencing buying decisions, who only get paid for performance. No salaries, only commissions. But what is also employed is a high sense of motivation, wherein these salespeople can be building a business of their own and not just be salespeople. If they choose to recruit others and teach them how to sell the product or service, they can earn override income just like the broker in a real estate company does. So now they see life through a different lens, as a business owner waking up each day excited about the future they are building for themselves. They are not salespeople; they are business owners.

Professor Joseph Stiglitz, former Chief Economist of the World Bank, and former Chairman of President Clinton's Council of Economic Advisers, goes public over the World Bank’s, “Four Step Strategy,” which is designed to enslave nations to the bankers. I summarise this below, 1. Privatisation. This is actually where national leaders are offered 10% commissions to their secret Swiss bank accounts in exchange for them trimming a few billion dollars off the sale price of national assets. Bribery and corruption, pure and simple. 2. Capital Market Liberalization. This is the repealing any laws that taxes money going over its borders. Stiglitz calls this the, “hot money,” cycle. Initially cash comes in from abroad to speculate in real estate and currency, then when the economy in that country starts to look promising, this outside wealth is pulled straight out again, causing the economy to collapse. The nation then requires International Monetary Fund (IMF) help and the IMF provides it under the pretext that they raise interest rates anywhere from 30% to 80%. This happened in Indonesia and Brazil, also in other Asian and Latin American nations. These higher interest rates consequently impoverish a country, demolishing property values, savaging industrial production and draining national treasuries. 3. Market Based Pricing. This is where the prices of food, water and domestic gas are raised which predictably leads to social unrest in the respective nation, now more commonly referred to as, “IMF Riots.” These riots cause the flight of capital and government bankruptcies. This benefits the foreign corporations as the nations remaining assets can be purchased at rock bottom prices. 4. Free Trade. This is where international corporations burst into Asia, Latin America and Africa, whilst at the same time Europe and America barricade their own markets against third world agriculture. They also impose extortionate tariffs which these countries have to pay for branded pharmaceuticals, causing soaring rates in death and disease.

If you don’t show as much interest in the buyer and his concerns as you do in selling, he’ll know that you are only in it for the commission. Be more interested in the customer than you are in yourself, your sales process, your product, or your commission and you will make more sales.

For Bill and Judy, obedience to the Great Commission means outreach to international students: providing hospitality to them and looking for ways to serve. For Sarah, it means joining forces with the "Not for Sale" movement to help liberate people from human trafficking so that they might experience God's love. For Trevor, it means using his science skills to work for the eradication of malaria in Togo, West Africa. For some Filipina maids, it means following Jesus into Saudi Arabia as domestic servants so that they can share God's love with Saudi families. For Jeff and Judy, it means using computer skills and literacy training to touch the people and the nation of Chad. For Uchenna and Dolapo, it means joining a Nigerian mission agency that enabled them to move to North Africa as community developers. The common thread is this: God's people, relying on God's power and presence, go out and look for opportunities to share and demonstrate the love of Jesus to all peoples everywhere.

Canadian commission found that women in the sex industry are 40 times more likely to be murdered than other women. Another study put the estimate as high as 130 times more likely to be murdered.

Cost of Cruise Sales Other Sales Cost of Other Sales (Refunds) (Refund Credits) Car Commissions Hotel Commissions Other Commissions Service Fees and Tuition Advertising Income Interest Income Air Sales and Cost of Air Sales

Biodiesel Plants In recent years, SRS International Biodiesel, biodiesel washing, factory automation services, turnkey biodiesel refineries and commissioning services, including hanging the biodiesel plants machine is a category launched. SRS International Biodiesel trade scope project consulting and services, process design, equipment manufacture and supply, engineering tools, establishment and after sales service are also included. It's a huge Biodiesel Plants in Temecula, CA. Machinery manufacturing plant and engineering companies: mainly grain, oil, engaged in general contracting of engineering warehouse, storage, Machinery and equipment manufacturing and oil equipment and grain purchases; By deep processing of oil products; Owners turnkey projects realized.

There are countless observations in all aspects of our lives. For example, in sales, 20% of salespeople seem to make more than 80% of all sales commission.

No sale, no commission. No commission, no eat. That left a mark on me.

Entrepreneurship is a sales job with negative commissions until you raise capital, are profitable, or go out of business—whichever comes first.

Actions Summary The following list of new institutions, policies and actions is my best effort at envisaging what is required for Australia to survive the climate emergency. • A National Target and Plan for 95% or more of electricity to be supplied by renewables by 2030. • State plans to electrify all transport, beginning with the swift retirement of non-electric buses and including a plan for 50% of all new car sales to be EVs by 2030. • Implement planned changes to how we work and live so as to minimise unnecessary travel. • A plan for clean hydrogen to replace bunker fuel in shipping. • A plan for the adoption of e-fuels for aviation, with an aim to have all domestic flights running on e-fuel by 2030. • A National Commission for Climate Adaptation, with a Coastal Defence Fund and a Commission for Primary Production operating under its umbrella. • A National Initiative on Drawdown Innovation to provide leadership in early stage research and fund some on-ground projects. • The Federal Government to help convene a Global Working Group on Geoengineering.

If you will allow me one more analogy: Suppose you engage someone to “advise” you on your investments, believing that the person you engaged was duty bound to act only on your behalf and acting as your agent to advise you. Now imagine that in secrecy, the person you trust is acting as a commission sales agent for the investment dealer, and not acting as an agent on your behalf as you are led to believe. There is a deception of “dual agency” involved in this, or one of “undisclosed dual agency.” But “self” regulation ensures that this type of fraud is “unseen”. This is how millions of investors in North America are duped into believing falsified professional credentials, and into investing their life savings under false pretenses. Imagine how much money the investment selling industry can make by this deceptive bait and switch, with virtually no member of the investing public told of it. Most regulators and “self”-regulators could be considered the paid, professional “gaslighters” of today. Gaslighting is the deepest kind of moral wrong. When it is practiced by industry regulators to protect their industry, it harms and farms society.

Always make a counteroffer. You can’t get anywhere without a counter. Remind clients there is always a cost for time. Time is expensive. You can’t predict the market. You can’t assume there is always a better offer. Can the parties involved split the difference? Can you as the salesperson offer an additional incentive? Can you lower your commission? Pay for a cost associated with the deal yourself? Remember, $10 is better than $0!

Moteefee, a platform founded in 2015 and that currently has 2,500 micro-retailers and entrepreneurs, recently raised 4.5 million euros that will be used for further business expansion. According to PaySpace Magazine, Moteefe has raised €4.5 million in a Series A round led by Gresham House and Force Over Mass Capital. The platform for on-demand production of merchandise aims to use the money for further expansion worldwide. What is more, it plans to launch new products for large retailers and scale its operations. Moteefe enables influencers and retailers to create custom and personalized merchandise and then sell them around the world. The Dutch company takes care of the printing, the store, the payment, the customer service, and the fulfillment, charging a commission for every sale. In 2019, Moteefe was the UK’s fastest-growing e-commerce company with revenue growth of over 9,000 percent between 2015 and 2018.

You can’t collect your commission until you make the sale; You can’t make the sale ’til you write the order; You can’t write the order ’til you have an interview; And you can’t have an interview ’til you make the call!

Over the next few years, the number of African Americans seeking jobs and homes in and near Palo Alto grew, but no developer who depended on federal government loan insurance would sell to them, and no California state-licensed real estate agent would show them houses. But then, in 1954, one resident of a whites-only area in East Palo Alto, across a highway from the Stanford campus, sold his house to a black family. Almost immediately Floyd Lowe, president of the California Real Estate Association, set up an office in East Palo Alto to panic white families into listing their homes for sale, a practice known as blockbusting. He and other agents warned that a 'Negro invasion' was imminent and that it would result in collapsing property values. Soon, growing numbers of white owners succumbed to the scaremongering and sold at discounted prices to the agents and their speculators. The agents, including Lowe himself, then designed display ads with banner headlines-"Colored Buyers!"-which they ran in San Francisco newspapers. African Americans desperate for housing, purchased the homes at inflated prices. Within a three-month period, one agent alone sold sixty previously white-owned properties to African Americans. The California real estate commissioner refused to take any action, asserting that while regulations prohibited licensed agents from engaging in 'unethical practices,' the exploitation of racial fear was not within the real estate commission's jurisdiction. Although the local real estate board would ordinarily 'blackball' any agent who sold to a nonwhite buyer in the city's white neighborhoods (thereby denying the agent access to the multiple listing service upon which his or her business depended), once wholesale blockbusting began, the board was unconcerned, even supportive.

Over the next few years, the number of African Americans seeking jobs and homes in and near Palo Alto grew, but no developer who depended on federal government loan insurance would sell to them, and no California state-licensed real estate agent would show them houses. But then, in 1954, one resident of a whites-only area in East Palo Alto, across a highway from the Stanford campus, sold his house to a black family. Almost immediately Floyd Lowe, president of the California Real Estate Association, set up an office in East Palo Alto to panic white families into listing their homes for sale, a practice known as blockbusting. He and other agents warned that a 'Negro invasion' was imminent and that it would result in collapsing property values. Soon, growing numbers of white owners succumbed to the scaremongering and sold at discounted prices to the agents and their speculators. The agents, including Lowe himself, then designed display ads with banner headlines-"Colored Buyers!"-which they ran in San Francisco newspapers. African Americans desperate for housing, purchased the homes at inflated prices. Within a three-month period, one agent alone sold sixty previously white-owned properties to African Americans. The California real estate commissioner refused to take any action, asserting that while regulations prohibited licensed agents from engaging in 'unethical practices,' the exploitation of racial fear was not within the real estate commission's jurisdiction. Although the local real estate board would ordinarily 'blackball' any agent who sold to a nonwhite buyer in the city's white neighborhoods (thereby denying the agent access to the multiple listing service upon which his or her business depended), once wholesale blockbusting began, the board was unconcerned, even supportive. At the time, the Federal Housing Administration and Veterans Administration not only refused to insure mortgages for African Americans in designated white neighborhoods like Ladera; they also would not insure mortgages for whites in a neighborhood where African Americans were present. So once East Palo Alto was integrated, whites wanting to move into the area could no longer obtain government-insured mortgages. State-regulated insurance companies, like the Equitable Life Insurance Company and the Prudential Life Insurance Company, also declared that their policy was not to issue mortgages to whites in integrated neighborhoods. State insurance regulators had no objection to this stance. The Bank of America and other leading California banks had similar policies, also with the consent of federal banking regulators. Within six years the population of East Palo Alto was 82 percent black. Conditions deteriorated as African Americans who had been excluded from other neighborhoods doubled up in single-family homes. Their East Palo Alto houses had been priced so much higher than similar properties for whites that the owners had difficulty making payments without additional rental income. Federal and state hosing policy had created a slum in East Palo Alto. With the increased density of the area, the school district could no longer accommodate all Palo Alto students, so in 1958 it proposed to create a second high school to accommodate teh expanding student population. The district decided to construct the new school in the heart of what had become the East Palo Alto ghetto, so black students in Palo Alto's existing integrated building would have to withdraw, creating a segregated African American school in the eastern section and a white one to the west. the board ignored pleas of African American and liberal white activists that it draw an east-west school boundary to establish two integrated secondary schools. In ways like these, federal, state, and local governments purposely created segregation in every metropolitan area of the nation.

What was I to do, after sailing the seven seas now that we moved to 33 Van Wart Avenue, on the Scarsdale line of White Plains, NY. Like they say, money doesn’t grow on trees, so it was up to me to find a job. The economy wasn’t all that great and the best I could do was to find a commission job selling home fire detection units. One of the senior salesmen took me under his wing and showed me the ropes. The most important part of the pitch was to emphasize the importance of the fire detection unit and how, after declining our product a family had a fire in their home. The hapless husband was found stretched across the bed where he obviously died attempting to reach the telephone, while his family succumbed to the super-heated poisonous gasses and raging flames. It all could have been prevented if only they would have bought the fire detection unit when it was offered. I hated cold calling and selling something to people that they couldn’t afford was not in my nature. I wasn’t like my brother who could lure a hungry dog off the back of a meat wagon! It wasn’t that I didn’t try, because the more often I told the story the worse it got! I could just tell that the people I talked to knew that I was full of shXt and all I wanted to do was get out of there, although one of the sales rules was that you stayed until the people invited you to leave at least three times. For every rebuttal I had an answer and for every financial problem I had a solution, to put them even further into debt. In the end I would come home with my tail between my legs and with Ursula, watched the midnight horror show with John Zacherle. Dick Clark, a friend, gave Zacherle his nickname, "The Cool Ghoul," and for us it was television at it’s very best in the 1960’s.

This means I can call up a client and say, “The bad news is that your buyer backed out because he decided to join a competitive curling team in Moscow. But! The good news is I got you another offer!” The bad news is instantly replaced by the good news. For people who sell other things, this could mean that a product won’t be ready on time or an order was placed incorrectly. Instead of calling up your customer and dropping the bad news, take time to think about what little surprise you can add to remedy the situation and maintain the relationship. “I’m so sorry that your order won’t be received on time. Please know that I’ve reduced my commission to make this a better deal for you, you get free shipping, and 20 percent off your next order.” Sometimes surprise comes in the simple form of exceeded expectations.

The implication of the 30-Day Rule is simple. Miss a day of prospecting and it will tend to bite you sometime in the next 90 days. Miss a week and you will feel it in your commission check. Miss the entire month and you will tank your pipeline, fall into a slump, and wake up 90 days later desperate, feeling like a loser, with no clue how you ended up there.

When closed-end funds are started they are usually sold by brokers, who add a hefty commission of around 7% to the sale price. But within six months, the funds typically trade at a discount of more than 10%. So the first puzzle is: why does anyone buy an asset for $107 that will predictably be worth $90 in six months? This pattern had induced Benjamin Graham to refer to closed-end funds as “an expensive monument erected to the inertia and stupidity of stockholders.” This was a more polite way of saying “THERE ARE IDIOTS,” which remains the only satisfactory answer to this first puzzle.† The second puzzle is the existence of the discounts and premia mentioned earlier. Why does the fund trade at a price that is different from the value of its holdings? The

This spread between replacement value and liquidation value may be high for real property—often as much as 10 to 20 percent. For instance, I buy a $100,000 painting and pay $7,000 more in sales taxes, for a total of $107,000. The next day I change my mind and sell it for the same price of $100,000, paying $10,000 in commissions, for net proceeds of $90,000. The spread was $90,000 to $107,000, a difference of $17,000 or 17 percent of the “base” price of $100,000. This is what is lost in a round of buying and selling. It’s that way with houses, cars, art, and jewelry. In contrast, the cost to trade listed securities is typically only a small fraction of a percent—which, along with their liquidity, makes them more appealing stores of wealth.

SoHo was a market I desperately wanted to sell in, and I started meeting people the moment I put my mind to it. “Need some water? My name’s Ryan.” “Need a spot?” “Nice Nikes!” These would be strange things to say to someone on the street. But at the gym, these were my client pickup lines, and they worked. They worked so well that I became addicted to meeting people. The first week I picked up a $3.5 million loft and sold it in four days. The 6 percent commission I made paid for 100 years of Equinox. Literally. And these were just my afternoon clients.

Mark Allin and Richard Burton started Capstone, their book-publishing venture, with high hopes. False modesty aside, they knew they were excellent editors, with a great track record at two publishing giants. I could vouch for Mark Allin’s profit-making abilities, since he gave me the idea for writing The 80/20 Principle, my bestselling book. Richard and Mark envisaged Capstone as a star venture, the leader in a new category of ‘funky business books’. They convinced me that this idea was plausible and I became their financial backer. I reckoned that I had an ‘each-way bet’ - either their star business would materialise, or, at worst, they would pick a few great winners, making Capstone highly profitable. The business appeared to start well. They commissioned a stream of trendy books from interesting authors. The product looked great, with distinctive trendy designs. Mark and Richard were full of ideas and enthusiasm, confidently projecting sales that would give us good profits. The only thing was, the forecasts never materialised. Whenever we looked at the numbers we were constantly disappointed. I kept injecting cash, and it kept vanishing. To this day I don’t know why their books didn’t sell in quantities we could reasonably expect.The favoured explanation was the weakness of the sales force - inevitably, it was difficult to acquire distribution muscle from scratch. Maybe they just had bad luck in not commissioning any smash hits. Whatever the reason, Capstone was a financial black hole. I remember a rather difficult meeting at my home in Richmond some three years after the start. Richard and Mark asked for a further loan to commission new books. I had to say no. We had to face facts. Capstone was not a star; the category of ‘funky business books’ had not established itself. Capstone was a rather weak follower in the business-books arena. Capstone had none of the financial attributes of a star. If it looked like a dog, behaved like a dog and barked like a dog, it probably was a dog.

Still, Frederic Allen and his partners recognized that the markets were changing. Given its Boston roots, Lee Higginson lacked the national networks of Morgan or National City, a leading commercial bank. The firm needed someone to establish stronger connections, first with new companies whose securities would appeal to investors, and then throughout the United States with the investors themselves. Every American already knew Jack Morgan. They were getting to know National City’s chairman, Charles Mitchell, a former electrical goods salesman, who had been encouraging his brokers with sales contests, high commissions, and motivational speeches. Lee Higginson needed someone to join this fray, and to introduce the firm’s name and the companies it discovered to the public. It wouldn’t hurt if this man resembled Fred Astaire

The danger with traditional commission-based sales models is that they create two different cultures: a company culture and a sales culture. The employees in these two cultures are compensated differently, think differently, care about different things.

What does it say?" "What do you want it to say?" she asked. "You haven't bothered to tell me what you're after." "I want to buy a battleship, of course. Who has one for sale?" Barbara shot him a dour expression and studied the blue papers. "I'm afraid you're out of luck. The Soviet Union has one left, which is used to train naval cadets. France has long since scrapped hers. Same with Great Britain, even though she still keeps one on the rolls for the sake of tradition." "The United States?" "Five of them have been preserved as memorials." "What are their present locations?" "They're enshrined in the states they were named after: North Carolina, Texas, Alabama, and Massachusetts." "You said five." "The Missouri is maintained by the Navy in Bremerton, Washington. Oh, I almost forgot: the Arizona is still sentimentally kept on naval rolls as a commissioned ship." Jarvis put his hands behind his head and stared at the ceiling. "I seem to recall the battlewagons Wisconsin and Iowa were tied up at the Philadelphia Navy Yard a few years back." "Good memory," said Barbara. "According to the report, the Wisconsin went to the ship-breakers in 1984." "And the Iowa?" "Sold for scrap.

commissioned theft. Or, as Durand liked to describe it, he managed the acquisition of paintings that were not technically for sale.

Those are just examples; my advice is to search for the lowest-cost Treasury options at whatever brokerage you have your money with. Just remember: With a mutual fund you never should pay any sales commission, called a load. And check whether your brokerage offers Treasury ETFs that you can buy and sell without paying a sales commission.

CORNFELD’S EXTRAORDINARY SUCCESS, plus that breathtaking view, made it possible most days to forget that the firm was nothing more than a boiler room. Cornfeld was notorious for asking his employees if they sincerely wanted to be rich, and every day a dozen wolfish young men demonstrated that they did, they sincerely did. With ferocity, with abandon, they crashed the phones, cold-calling prospects, scrambling desperately to arrange face-to-face meetings. I wasn’t a smooth talker. I wasn’t any kind of talker. Still, I knew numbers, and I knew the product: Dreyfus Funds. More, I knew how to speak the truth. People seemed to like that. I was quickly able to schedule a few meetings, and to close a few sales. Inside a week I’d earned enough in commissions to pay my half of the rent for the next six months, with plenty left over for surfboard wax.

companies. When a company received an order for a product, that company would send the order to the fulfillment company who would then ship the company’s product to the customer. The fulfillment company would charge the company for this service, while leveraging their large shipping volume to get good shipping rates. The fulfillment company does what they are good at which is storing inventory, picking, packing, and shipping orders while each company that uses the fulfillment company continues to do what they are good at which is selling their products. The companies also benefit by not having to have their own warehouse and shipping department to process all of their own orders themselves. It was a win-win relationship. The difference between a traditional fulfillment center and Amazon’s FBA program is that Amazon is not just the fulfillment company, they are also the marketplace. They have an active interest in seeing the products sell. Amazon makes money by charging a commission on the products sold on Amazon.com as well as the fees that they charge to use FBA (fees explained a little later). So you are not just sending your products to a traditional fulfillment center and then left on your own to find customers and make sales. Amazon.com is the website that you are selling on and they are the ones doing the fulfillment for you. They WANT your items to sell just as much as you do; maybe even more so since they get paid whether you are making a profit or not. More on this later to make sure

Lag indicators—things like income, sales, commission dollars, pounds lost, body fat percentage, overall cholesterol levels—represent the end results that you are striving to achieve. Lead indicators are the activities that produce the end results—for instance the number of sales calls, or referrals are lead indicators in the sales process.

Of course, Adam was still counting days the old way, as Sunday was the first day of the week, so he was misinforming me as to which day his father actually arrived in Spain, seemingly by accident, by mistake. Perhaps it was a mistake that Adam had confused the European calendar with the Israeli calendar from time to time; perhaps it was not a mistake. Ferran actually arrived the following day, Tuesday, according to the Gregorian calendar and not Monday, when we had all been preparing for his arrival with Martina in vain. I had wanted to introduce her to the old man nicely. However, Tuesday, when he was scheduled to arrive, Mario Larese - Mister Twister - showed up, banging the glass of the store-front door, echoing throughout the entire store and upstairs apartment, as if he was about to break the glass if I did not go down to open it. He was knocking on the plain, large glass of the door with either a lighter or with his metal ring; I don't know which, but it was terrible. I knew Ferran could arrive at any moment, so I told Martina it might be best if she went home to Paola and let me take care of the business. I couldn't ignore Mario, who was almost breaking the glass, seemingly because he had seen my scooter parked in front of the store. I opened the door and he started pushing his way inside, saying, “Let's smoke a joint and drink a coffee.” I replied, “Slow down, cowboy. I've got company, I'm expecting more company, and I just woke up. I have no time now; sorry, Mario.” He kept banging the door because he wanted to smoke somewhere early in the morning, and Canale Vuo was still closed. I was so tempted to slap him. Unintentionally, I let slip that I was expecting Ferran, which only increased his refusal to leave. Theatrical. Dramatic. He wasn't going to get out of my store, my way, my day, my life, my struggle, or my schedule. Meanwhile, the same time, Nico was bugging me on the phone to make sure I delivered a box of 1,000 cones for La Silla because they needed it to make pre-rolled joints for their smokers. They sold 2-3,000 pre-rolled joints a week, ordering two boxes weekly, thus making me waste my time for free. I started to think it had all been planned just to make me lose time every week. They sold 3,000 joints a week and yet couldn't afford more than two boxes of cones to purchase to keep up. Tuesday morning was so urgent for La Silla to get those 1,000 brown cones right then. Just for Nico's 5-euro commission and so he wouldn't be embarrassed in front of his friends at La Silla with his sales performance - no problem. I couldn't kick out Mario, and I didn't want to kick out Martina, who apparently didn't want to leave. I asked them to leave, but Mario was leaning on the kitchen table and unable to look up or turn toward me to meet my gaze. Martina was looking at me angrily. So, I told them both, “OK then, stay here; let the old man inside once he arrives. I have to deliver this box of cones to La Silla right away, but I will be right back. 20 minutes tops.” Adam had also failed to inform me that he had copied a set of keys for his dad at one point, and he had somehow sent them to Israel by mail, I guess. Martina did not need to stay in the store to let Ferran in, but I did not know that. Adam was always secretive and brief with his words, as if it cost him money to say words out of his mouth or dictate to Rachel what to write in an email or what he was supposed to tell me on the phone. I thought that Martina had to stay to let Ferran into the store in case he arrived just when I went to La Mesa to do a favor for Nico. I was on my way back to Urgell from La Silla, when Adam suddenly called me from Amsterdam, screaming on the phone.

So let’s go down another level of niching and call our product…. “Time Management for B2B Outbound Sales Reps.” Following the same principles of specificity, now we know our sales people probably have very experienced deals and commissions. A single sale would easily net this salesman $500 (or more), so it would be easy to justify a $499 price tag. This is already a 25x increase in price for almost an identical product. I could stop here, but I’m going to go one step further. Let’s just niche down one last level…. “Time Management for B2B Outbound Power Tools & Gardening Sales Reps.” Boom. Think about it for a second, if you were a power tools outbound sales rep, you would think to yourself “This is made exactly for me” and would happily fork over maybe $1000 to $2000 for a time management program that could help you achieve your goal. The actual pieces of the program may be the same as the generic $19 course, but since they have been applied, and the sales messaging could speak so much to this avatar, they will find it more compelling and get more value from it in a real way.

kept studying the master closers, stayed away from the rookies and the negative complaining salespeople, study, listen and learn, then my first sale would eventually come.

Here are a few quick examples of language patterns that work very well with this type of step-down approach: “If you give me 1 percent of your trust, I’ll earn the other 99 percent.” “Frankly, on such a small sale like this, after I split my commission with the firm and the government, I can’t put puppy chow in my dog’s bowl.” “I’m obviously not getting rich here, but, again, this will serve as a benchmark for future business.

States should impose individual sanctions, including travel bans and asset freezes, against officials and individuals responsible for the continued commission of these serious crimes and condition arms sales and military and security assistance to Israel on Israeli authorities taking concrete and verifiable steps towards ending their commission of the crimes of apartheid and persecution.

I had known many real estate agents who spent day after day discussing multimillion-dollar deals with other agents, seemingly achieving fulfillment from their conversations alone.  They steered clear of the excruciating effort it takes to secure a listing directly from a seller, let alone the time and energy it requires to locate a buyer for a property, implement a marketing method, and close the sale. Such an agent limits his efforts to sending out tenth-generation copies of scanty information about properties furnished him by other agents.  It's a lottery mentality—hoping upon hope that some agent with whom he is dealing will somehow get lucky and close a sale—and then, the ultimate hope, a small piece of the commission will miraculously filter its way down to him. I'm not saying that a real estate agent should never work with another broker or salesman under any circumstances.  That would be ideal, but not practical.  Circumstances regarding two of the sales I discuss later in this book were such that it made sense for me to pay a co-brokerage fee to another agent.  Even in those instances, however, I took matters into my own hands and did everything possible to control the destiny of the sale.

I again made it clear that there was absolutely no negotiation regarding my 3 percent commission for the sale of the eight properties.  However, "in a show of good faith to try to help pull this deal together," I said that I would consider taking an additional $50,000 cash right now in lieu of any future commission on the units to be completed and purchased at a later date.  In other words, I was going to give the Booze Brothers (and, theoretically, Ernest) the opportunity to save several hundred thousand dollars (my potential commission) down the road by coming up with an additional $50,000 right now. When Ernest and the Booze Brothers came out of the ether, the commission we finally agreed upon as a compromise was $426,901.39—about $50,000 more than the approximately $375,000 commission I had been shooting for.  Let me tell you, that kind of compromise made up for a lot of past Commissiondectomies.

Legal power is essential in the Jungle, but from a self-esteem standpoint, performance power is a real high.  Nothing beats the feeling, in your heart of hearts, of knowing that you really do deserve to be handsomely rewarded because you provided great value to the party you represented.  I wanted to make it as difficult as possible for a seller to pass the giggle test if he claimed I had not earned my commission.  From now on, it was going to be obvious to both the buyer and seller that the initiation, progress, and conclusion of the sale were due primarily to the efforts of The Tortoise.

Why did Connex for QuickBooks Online succeed? Here are the reasons: I received free app store listings on Intuit’s website. My app was even on the first page of their store briefly. This drove large amounts of traffic to my site. I received free listings on many other sites before they started asking for a commission. I later pulled those listings, since the cost to advertise exceeded the revenue they brought to the company. These stores failed to show how many installs and conversions they generated. I had many positive and real reviews on my app store listings. I noticed competitors had hundreds of five-star reviews that mostly looked fake. QuickBooks Online had few integrations at the time. I was one of the first companies to get listed. For QuickBooks Canada and QuickBooks U.K., my app was one of the first system integrators. I had almost no competitors who serviced QuickBooks outside of the U.S. Shopify, BigCommerce, ShipStation and other companies had no native integration. Mine was one of the first. I recorded videos and added landing pages that ranked high on Google with minimal effort. Since I had a shoestring marketing budget, this was very important. The issue I had with other products was that they didn’t offer free promotion. Since my company was one of the first, we had ample time to add features and fix problems. We have a solution that is light years ahead of competitors. Why would someone want to compete with us? In the words of one of my partner companies, “We could build one, but yours would be a lot better.” My app required no desktop apps or website plugins to install. Since my audience was small business owners, the easier the install the better. Most business users have a limited understanding of websites. Asking them to change a bunch of settings or configure something on their own is daunting. We set up Connex for qualified users. Many competitors just let users go through a self-guided trial. We received feedback from many customers that they would purchase if they could make Connex work. I added a talk-to-sales component, and our conversion ratio increased. Connex was successful because I added a personal touch in a world where SaaS owners expect users to just “figure it out” on their own. Software that requires no support and maintenance is a pipe dream.

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There is a different model that aligns short-term business goals without neglecting long-term customer relationships. It’s based on vested commissions. Rather than focusing on rewarding salespeople immediately after a transaction, vest the commission over time so your sales team is incentivized to not only bring in new customers, but also work with existing customers to ensure they’re happy and stay happy. Build a culture based on relationships rather than transactions.

1. If you’re starting a new sales organization, do not offer traditional monthly cash commissions. It’s best to have everyone in your company compensated in the same way—so offer salespeople a competitive salary and sales performance bonuses of additional stock options that vest over time. Stock provides a built-in incentive to stick around and invest in long-term customers who are good for the business. 2. If you’re trying to transition to a relationship-driven culture, you may not be able to kill traditional commissions right away. In that case, any stock or cash (stock is still preferable) that you give as a commission should vest over time. Pay 10–15 percent of the commission at first, then another tranche in a few months, then another a few months after that, etc. If the customer leaves, the salesperson loses the remainder of their commission. 3. Every sale should be a team sale. So if you have a customer success team (the team that actually delivers, sets up, and maintains whatever is sold to the customer), then it should sign off on every deal. Sales and customer success should be under one leader, in the same silo, being compensated in the same way. In this setup, sales can’t just throw a customer over the fence and never think about them again. If there’s no customer success team, then sales should work very closely with customer support, operations, or manufacturing—create a board of people to approve each commitment.

First set up a mini–internal board populated by those other teams—customer support, customer success, operations—to approve each sales deal. That will start shifting the mindset from lone-wolf salesperson to being part of a team. Then start talking about the change to commissions. Don’t say you’re getting rid of them—that messes with people’s heads—just say that you’re doing them differently. Boost the size of the commission but start vesting it over time. And tell the sales team they’ll lose the remainder of the commission if the customer leaves. You can also offer an even larger commission if they’ll take stock over cash.

Once commissions are vested on a schedule that prioritizes customer relationships, a lot of the ugliness that usually defines sales cultures disappears. Salespeople do a better job qualifying customers, the hypercompetition eases up, the backslapping fades, the teams align their expectations and their goals. It just works better. For everyone.

It helped us know exactly who we were speaking to at all times. And exactly whose problems we were solving. But simplicity and ease may not be enough to sway you, so let me illustrate why honing in on one niche will make you more money. Reason: you can literally charge 100x more for the exact same product. Dan Kennedy was the first person to illustrate this for me, and I will do my best to pass on the torch to you in these pages. Niching Product Pricing Example: Example Dan Kennedy taught me this (and it changed my life forever). Let’s say you sold a generic course on Time Management. Unless you were some massive time management guru with a compelling or unique story, it would be unlikely it would turn into anything significant. What do you think “yet another” time management course is valued at? $19, $29? Sure. Nothing to write home about. Let’s just say $19 for illustration sake. **Now we shall unleash the power of niche pricing in various stages on your product** So let’s imagine you make the product more specific, keeping the same principles, and call it “Time Management For Sales Professionals.” All of a sudden, this course is for a more specific type of person. We could tie their increase to even one more sale or one more deal and it would be worth more. But there are a lot of sales people. So this might be a $99 product. Neat, but we can do better. So let’s go down another level of niching and call our product…. “Time Management for B2B Outbound Sales Reps.” Following the same principles of specificity, now we know our sales people probably have very experienced deals and commissions. A single sale would easily net this salesman $500 (or more), so it would be easy to justify a $499 price tag. This is already a 25x increase in price for almost an identical product. I could stop here, but I’m going to go one step further. Let’s just niche down one last level…. “Time Management for B2B Outbound Power Tools & Gardening Sales Reps.” Boom. Think about it for a second, if you were a power tools outbound sales rep, you would think to yourself “This is made exactly for me” and would happily fork over maybe $1000 to $2000 for a time management program that could help you achieve your goal.

Although Reed tried valiantly, the income from print sales never balanced out the high cost of framing, advertising, printing announcements, and the rent on New York’s prestigious gallery row, West Fifty-seventh Street. She confessed that the Delphic Studios were “a philanthropic endeavor rather than a business enterprise” and that, sadly, “sales were so infrequent as to make hope of any return at all from commissions a remote possibility.

Nick implied the job pays crap, so they can’t expect me to be some sort of art professor, right?” She paused when the bartender appeared with a bottle of beer and a slender fluted glass of champagne. The bubbles streaming upward through the pale liquid reminded him of Emma’s personality: round and fizzy, rising as high as they could go. He felt like shit. “Of course, I still need to find a place to live,” Emma said after taking a sip of her drink. “But as long as I have a place to work, I’m good. I can always buy a tent.” “You don’t have to buy a tent,” he said curtly. “Just joking.” She reached across the table and gave his hand a gentle squeeze. “But at least now I don’t have to worry about finding a place to live where I can also work.” He drank some beer straight from the bottle, relishing its sour flavor. Closing his eyes, he pictured that small, windowless room in the community center, its linoleum floor, its cinderblock walls, its sheer ugliness. She was thrilled because she thought it was her only option. But it wasn’t. “Look, Emma—if you want, I’ll take my house off the market. I don’t have to get rid of it. If you want to continue to live there…” She’d raised her champagne flute to her lips, but his words clearly startled her enough to make her lower the glass and gape at him. “But you came to Brogan’s Point to sell the house.” “It can wait.” “And I can’t keep teaching there. You said so yourself. There are those nasty zoning laws. And insurance issues, and liability. All that legal stuff.” She pressed her lips together, effectively smothering her radiant smile. “Taking the room at the community center means I’ll be able to teach there this summer in Nick’s program. So I’ll earn a little more money and maybe make contact with more people who might want to commission Dream Portraits.” She shook her head. “I can make it work.” “You could make it work in my house, too. Stay. Stay as long as you want. We’re not a landlord and tenant anymore. We’ve gone beyond that, haven’t we?” She stared at him, suddenly wary. “What do you mean?” He wasn’t sure what was troubling her. “Emma. We’ve made love. Several times.” Several spectacular times, he wanted to add. “You can stay on in the house. Forget about the rent. That’s the least I owe you.” Her expression went from wary to deflated, from deflated to suspicious. Her voice was cool, barely an inch from icy. “You don’t owe me anything, Max—unless you want to pay me for your portrait. I can’t calculate the cost until I figure out what the painting will…entail.” She seemed to trip over that last word, for some reason. “But as far as the house… I don’t need you to do that.” “Do what? Take it off sale? It isn’t even on sale yet.” “You don’t have to let me stay on in the house because we had sex. I didn’t make love with you because I wanted something in return. You don’t owe me anything.” She sighed again. The fireworks vanished from her eyes, extinguished

Drawing on Collins’s concept of a flywheel, or self-reinforcing loop, Bezos and his lieutenants sketched their own virtuous cycle, which they believed powered their business. It went something like this: Lower prices led to more customer visits. More customers increased the volume of sales and attracted more commission-paying third-party sellers to the site. That allowed Amazon to get more out of fixed costs like the fulfillment centers and the servers needed to run the website. This greater efficiency then enabled it to lower prices further. Feed any part of this flywheel, they reasoned, and it should accelerate the loop.

I am excited!  I stay focused on all the good things I have to be excited about.  I am excited about my career, my opportunities and my challenges.  My excitement drives me to do everything with energy and enthusiasm.  My mind is focused fully on what I am doing and I am able to get things done by telling myself to “DO IT NOW”.  I am excited and act enthusiastic and everyone around me catches it.  Every time I see someone I know or meet someone new I am excited and enthusiastic about seeing them.  By being enthusiastic, excited and full of energy I am a more valuable person.  Energy and enthusiasm guarantees my success as a highly paid professional sales person.  Energy, passion and enthusiasm will attract customers and sales to me.  This energy will be like a magnet and attract bigger customers and larger commissions to me.  I am going to give everything I have to everything I do.

Entrepreneurs, owners and GMs should be able to make a decision based on facts, not passively relying on the pitches of commission-based-sales people.

In May 2003, a bill aimed at requiring the Alabama Historical Commission to provide a current inventory of landmarks in the site eligible for inclusion in the National Register of Historic Places could thus state: The history of Africatown, USA originated in Ghana, West Africa, near the present city of Tamale in 1859. The tribes of Africa were engaged in civil war, and the prevailing tribes sold the members of the conquered tribes into slavery. The village of the Tarkbar tribe near the city of Tamale was raided by Dahomey warriors, and the survivors of the raid were taken to Whydah, now the People’s Republic of Benin, and put up for sale. The captured tribesmen were sold for $100 each at Whydah. They were taken to the United States on board the schooner Clotilde, under the command of Maine Capt. William Foster who had been hired by Capt. Timothy Meaher, a wealthy Mobile shipper and shipyard owner who had built the schooner Clotilde in Mobile in 1856.15 This is the official version of the story, also found in a piece emanating from the office of former representative Herbert “Sonny” Callahan, created in 2000 for the Local Legacies Project of the Library of Congress.16 The Africatown Community Mobilization Project uses it on its brochure. In addition to the offensive misuse of “tribe,” almost everything in this text is historically inaccurate and unwittingly derogatory. The project’s brochure contains further mistakes that come from a 1993 article produced by the Alabama State Council on the Arts.17

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Sixty-odd years ago a young insurance salesman in Minneapolis named Larry Wilson was miserable. Every time he was rejected by a prospective customer he felt like a terrible failure, an anxious loser unwilling to make the next telephone call. You might say he had a fixed mindset: Why bother to make a call if he was only going to fail again? He was ready to quit his job. But then his boss taught him a simple trick: he could change how he thought about those rejections. Because it took a beginning salesperson about twenty calls before making one sale and the average commission was $500, that meant on average a call was worth $25. Now, whenever Larry was told no, he forced himself to cheerfully think, “Thanks for the twenty-five dollars.” This simple change not only made him feel better, it also allowed him to do his job better because he could focus on customers instead of on how miserable he felt. Soon, he was averaging ten calls for each commission of $1,000, and whenever he was rejected, he would think, “Thanks for the one hundred dollars.” Essentially, he had reframed his thinking about failure.

slavery while on a sales trip to the New World in 1829. Traveling through Mexico, Florida, Louisiana, and Cuba, he was especially horrified by the racial character of slavery. On his return to France, he condemned the exploitation of slaves in an article titled “Des Noirs,” but he stopped short of calling for immediate emancipation, suggesting instead a gradual process of manumission over some forty to sixty years. It was only when he learned that plantation owners refused to educate their slaves that he turned against gradualism and came out in favor of “the immediate abolition of slavery”—the subtitle of his 1842 account of his trip to the West Indies. Tireless in his advocacy of abolition, he served as undersecretary for the colonies and president of the Commission on Slavery, and became, in effect, the architect of the post-slavery order in the Antilles. The novelist Victor Hugo offered a telling description of the ceremony at which Schœlcher announced the final abolition of slavery, held in Guadeloupe on May 19, 1848:

While not exclusive to parachurch institutions, there is a reason the sale of ministry occurs more frequently outside the church than inside the church. Book sales cover author commission, conference tickets cover speaker fees, tuition payments cover tenured salaries, and proprietary licenses cover musician paychecks.

Six critical questions to ask your Guy 1. How are you paid? Fee-only advisers receive no compensation from the sale of investment products. All others do. You can’t count on an adviser who gets a significant portion of their pay in sales commissions. Period. Leave if they are not fee-only. 2. Do you have any conflicts of interest that influence the advice you provide? Financial advisers who are registered representatives get paid to sell insurance or annuity products promoted by their brokers. Ask how they choose the investments they recommend. Ask them directly how they are paid. 3. Will my assets be housed with an independent custodian—that is, a bank that is not selling the investment products? “Yes” is the only acceptable answer here.