Author: Sean O'Shaughnessey

Brian G. Burns Interviews Sean O’Shaughnessey On How To Win Large Enterprise Deals

Brian G. Burns Interviews Sean O’Shaughnessey On How To Win Large Enterprise Deals

Brian Burns interviewed me for his podcast, The Brutal Truth, which can be found at https://www.youtube.com/c/BrianBurns/videos.

This version of the video doesn’t have the automatic transcription of the original podcast. I have created a better transcription below. I encourage you to read it here.

Brian’s podcast was titled The Top 3 Things You Need To Do To Close Large Enterprise Deals. We summarize those three things in the final moments of our conversation:

  1. Practice at being a well-rounded person. 
  2. Practice at being a business person. 
  3. Be able to relate to your customer in a way that makes them successful.

I would also add a 4th attribute that we discuss in the podcast, but Brian doesn’t emphasize in this podcast (but he does in his other episodes):

ABL – Always Be Learning

I hope you enjoy the podcast. The transcript is below the video.

Brian G. Burns  

Sean, welcome to the show. As a way of getting started, tell us about yourself.

Sean O’Shaughnessey  

Thanks, Brian, I enjoy being here. I am Sean O’Shaughnessey. I’m currently the Chief Revenue Officer for Agile Stacks, a startup company based in California. I’m in the Midwest, though, because I cover the entire world. I can be anywhere.

I have a long history of selling enterprise IT solutions. I have worked for many large companies that are names everybody’s heard of on your program.

Brian G. Burns  

It was kind of weird that before I looked at your profile, I was expecting an Irish accent.

Sean O’Shaughnessey  

A lot of people say that, but I’m a seventh-generation Irish. I have a lot of German blood in me as well. But I’m the seventh generation. The first generation O’Shaughnessey that came over on the boat was back in about 1820 or 1830. Something like that. So we have been in America for a long time. I didn’t look like an Irish man. I’ve got gray hair, of course, but blonde hair originally.

Brian G. Burns  

You can pass as an Irishman. But yeah, you spell your name the same way my brother does. And yes, so he grew up with everyone calling him “seen.” Yeah. Have you experienced that?

Sean O’Shaughnessey  

Absolutely. Thank goodness for Sean Connery. I think I’m actually named after Sean Connery. I think my mother, God rest her soul, had a crush on Sean Connery. 

Brian G. Burns  

How did you get into sales? 

Sean O’Shaughnessey  

My father was a salesperson. My brother was a salesperson. I was originally trained as a mechanical engineer. I realized that I didn’t want to be a mechanical engineer. My last day of being a mechanical engineer is when I walked across the stage to get that diploma. I immediately went into sales.

I went to a really great program put out by Allen-Bradley, which was a whole year of sales training. It was almost like getting a Master’s in Sales. And I never looked back. I never wanted to be a mechanical engineer. I was more on the business side. I’m technically adept, but I just enjoy selling. I enjoyed being with people. I definitely don’t like being stuck in the office, like I am now with this stupid COVID thing where I can’t go to see customers. 

Brian G. Burns  

You miss the traveling? 

Sean O’Shaughnessey  

I do. When you’re traveling, you hate it. When you don’t travel, after doing this so long, it just feels wrong. I think my suitcase is dusty.

Brian G. Burns  

That’s it. You get used to looking at bad TVs and bad hotel food and not waking up not knowing where you are.

Sean O’Shaughnessey  

Exactly. I think the biggest thing is my wife is saying, “Get out of the house!”

There is more to read. Go to the following pages to read:
Introduction
Why does Sean like the sales profession?
The transition from salesperson to sales manager
Growth milestones
Rep radar and Always Be Learning

You should forget attachments more often

You should forget attachments more often

I typically do not do a lot of writing about specific tactics that will work. Instead, I tend to write about more prominent strategies you can leverage to increase your commission. Unfortunately, plans will fail if your tactics fail.

For years, articles have advised us that a PS (postscriptum) is the most read part of an email. While their advice is not wrong, it is not the most straightforward way or the best way to get the reader’s attention.

Unfortunately, the PS is not required with today’s editors. Writers of days long since gone created the PS when letters were hand-typed or handwritten, and adding content to the 3rd paragraph of a 7-paragraph note was impractical. With modern editors on your computer, tablet, or phone, if a great idea came to you after typing a letter to a prospect, why wouldn’t you merely place your cursor at the appropriate place in the body and add the thought? Using a PS in modern times is simply an artificial contrivance that your reader will recognize as a fake add-on. It will be evident that you are trying to manipulate the prospect (which you are, but why admit it).

As a salesperson, you regularly send your prospect documents to read. These documents are in the form of attachments or links to a shared site. They help to explain your product or your company. They give more depth of understanding than can typically be done in the body of an email.

Occasionally, you will forget to do the attachment. You typically realize this immediately after you hit send. The accepted practice is to make a quick Reply All to your email, apologize for the mistake, and include the attachment. 

My suggestion is to do this more often. Don’t do it for every attachment, just the most important one. Please do it for the one attachment that you want your prospect to read.

The most read email content that you can send is the “OOPS” email. It nearly always is opened immediately, and it possibly could be opened before the original email. In the list of emails on the prospect’s email client, you are there twice in a row. The one on top must be the most important.

I caution you not to do this every single time that you send several documents to a prospect. Just do it on the most critical issues. Only use this technique when you absolutely must have the prospect read the email and the attachment to move forward. If you abuse the method, you will look obvious or look like a forgetful fool.

Good luck with your prospecting. Let me know what other tricks or tips you have used. You can drop me a note on my contact page, or you can leave a comment below.

Header Photo by bohed (Pixabay)

There Is No Single Decision Maker In Enterprise Sales

There Is No Single Decision Maker In Enterprise Sales

Brian G. Burns says many great things in his videos and podcasts, but this one video sums up B2B sales more than all the rest.

I coach salespeople saying that Sales is nothing but helping decision-makers (plural) make the correct decision in the timeframe that we need it done. It is an overriding theme in my book, Eliminate Your Competition.

Think about that above paragraph for a second. What are the key phrases:

  • Helping – As Zig Ziglar used to say, stop selling and start helping. Sales is about assisting (helping) a person along the path.
  • Decision-makers – there are many decisions by many different people along the way. The final decision is the decision to buy your product, but everything you do is a choice. As the excellent Rush song, Freewill, says, “If you choose not to decide you still have made a choice.”
  • Make a correct decision – Ultimately, we want the “buy” decision, but long before that, we need the “meet with me” decision, the “listen to my advice” decision, the “don’t like my competitor’s pitch better” decision, and many more.
  • In our timeframe, salespeople have a fiduciary responsibility to their employers to close deals in the time frame needed by their employers. Let’s face it; we are the company’s revenue arm, and everyone’s income depends on us selling the company’s product and bringing in revenue.

There are hundreds or thousands of decisions that get made in a long sales cycle product. In some markets, it can take a year (or maybe two years) from the time the company realizes that they might need to do something to when they make a final purchase decision. In that time, dozens of people are each making many decisions along the way. Just about every decision will affect who wins the deal, or who is ahead in the competition to win the contract.

You can sell high and lose. 

You can sell wide and lose. 

You can sell to low-level people and lose. 

The critical thing in business-to-business sales is to do all of them. You still may lose, but if you cover EVERY decision-maker and understand their goals, needs, and pains, then you will be less likely to lose. Remember, they are ALL making critical decisions every day, and you need to ensure that you “win” each of those decisions.

You never completely know who that one person is that can kill a deal. Many people in an organization can say, “No,” but few are empowered to say, “Yes.” Typically, that “Yes” only comes when no one is saying, “No.”

Top leaders at your prospects do not make decisions in a vacuum. While there are cases where the executive overrode the team and made a decision that everyone hated, most of the time, the boss tries to build consensus in the group. If a highly respected person in the department doesn’t like a purchase, it is infrequent that the leader goes against that advice. If you want the top person to decide in your favor, you first need to get that highly respected person to decide in your favor.

That is why coverage is essential, and you must understand if someone is a supporter, neutral, or an enemy. In my book, Eliminate Your Competition, I teach salespeople how to create a Power Matrix to map the influencers in the sale. A Power Matrix covers the 9 (or 25) people that might have an influence over the decision.

It boils down to a couple of simple items and by creating a Power Matrix the salesperson can effectively track what is going on:

  1. Work on trying to get as many supporters as possible. If there are one or more enemies, try to move them to at least being neutral. The most potent and rewarding move is an enemy to a supporter.
  2. Make sure you have a strong supporter (a coach and a champion) that is providing you with private information, coaching you on tactics, and, most importantly, selling on your behave when you are not present.

You may purchase my book, Eliminate Your Competition, from your favorite book retailer. The ebook version is available at the most popular retailers such as Apple, Amazon, Barnes & Noble. The paperback version is also widely available at such retailers as Amazon, Barnes & Noble, and Books A Million.

Check out this great video from Brian Burns that summarizes all of this. Brian has a lot more great stuff that he puts out on his YouTube channel. You need to check it out.

Header Photo by geralt (Pixabay)

Too much event-based selling hurts your ability to close

Too much event-based selling hurts your ability to close

Many salespeople fall into the bad habit of depending on event-based selling to move their prospects through the decision-making process. A salesperson should spend a large percentage of their time doing personal selling, rather than event-based selling.

Before the above statement can sink in, I need to explain the difference. Event-based selling is when you have scheduled a meeting with multiple people from the prospect’s organization and maybe numerous people from your organization. Event-based selling identifies with such topics as demos and workshops. 

Personal selling is where the salesperson is simply sitting with the prospect discussing business and also maybe discussing family, weather, sports, or similar topics. This activity usually is one-on-one. 

Event-based selling is essential. It is the primary method of conveying information about your product. This is even more true if the product category is new to the prospect and is somewhat technical. You set up a demo, and you invite several or a dozen people from the prospect organization to attend. These are events. 

Events are important. You will never get the prospect to agree to buy many types of products if you don’t do a demo, a workshop, or a proof-of-concept event. You need to plan and execute these events successfully. They are critical for the success of you closing a deal.

However, events can be a crutch that hurts you in your sales campaign. Too often, a salesperson will try to “make something happen” by offering to do another event. Maybe that event is a “lunch and learn” for more people. Or perhaps that event is mini-demo of an individual feature not adequately explored in the original demo. If the prospect requests those new events, then, by all means, qualify them and do them to educate your prospect. But if you propose those new events as the salesperson, you may have a problem.

Start selling yourself instead of your product

Throughout my book, I discuss that you are selling three things during the sales campaign:

  1. your product
  2. your company
  3. you

You must sell all three things. However, if you are always offering to do additional events, you are likely to spend too much time selling the first two items and not enough time selling the last item – you are not selling yourself.

If you think about all of the sales calls you have made in your career, the questions fall into these three value offerings. At a high level:

  • The prospect wants to know all about the speeds and feeds of your product – a product conversation.
  • They want to know all about the pricing model of the product – a product conversation.
  • They want to know all about the support options and warranty of the product – a product and company conversation.
  • They want to know how long your company has been producing the product – a company conversation but also a product conversation.
  • They want to understand the roadmap for your company – a company conversation and a product conversation.
  • They may even want to meet some executives of your company to be comfortable with its management – a company conversation.

During these sales conversations, they are also learning about the value offering you bring to them. They are learning about you as a person. Are you reliable? Are you knowledgeable? Does the prospect trust the words that come out of your mouth? In short, they are trying to figure out if they should buy from you or, in essence, can they hire you as their representative for this kind of product.

Yes, you are for sale if you are in sales. You are a part of the value offering that the prospect considers in the evaluation. At a minimum, do you offer enhanced value to the prospect over just buying the product over the Internet?

Here is the rub; you are the essential value offering. It isn’t the product nor your company. They are secondary to the importance of you as a value offering.

Let’s be perfectly blunt, is your product that much better or worse than the competition? When you answer questions about your product, aren’t 90-99% of your responses positively responded regarding the customer’s concern? How often do you answer a question, “No, we don’t have that feature.” Obviously, you give that answer at times, but in those cases, you probably are not a good fit for the customer and will lose the deal immediately. If your product doesn’t have that required feature, you will not be talking to a qualified prospect for that product.

Isn’t your competitor’s product in a similar situation? Don’t most of their features match up reasonably well to your own product’s characteristics? I am sure that you do a little better at feature A or B. Although your competitor probably does a bit better at C. When you add it all up, it is probably pretty close to a dead-even tie. Worse yet, it is likely your prospect can achieve their goals perfectly well without buying the best product on the market (yours) because the second best or third best product will accomplish the goals. They don’t need the best; they need the product and company to be good enough to achieve their goals.

Similarly, how many times do you have to explain to your prospect that your company isn’t very good at supporting the product? Do you ever really lose a deal based on company longevity or commitment to the market? Of course not, and neither do your competitors.

As a Trapper, I continuously advise salespeople that features that do not differentiate do not matter. 

Does the car salesperson spend time explaining the value offering of the accelerator on the floor? Of course not, all modern cars have them. 

Does the TV salesperson explain that the remote will change the channel and volume? Of course not, all TVs have remotes with a value offering that does that. 

In both cases above, there was a time when those were unique and differentiating features, but not in today’s competitive market. The TV and automobile manufacturers have added those features as standard, and the features no longer differentiate the products. Since none of these features add a differential value offering, there is no reason to “sell” these features to the prospect. A salesperson that spends a lot of time talking about the value offering of these benefits is simply wasting valuable time.

So why do you spend so much time talking about your company and your product? You need to do the minimum amount to make sure you check off all of the checkboxes, but that is all you are doing. All you are doing is showing that your company and your product are good enough to match the competition. As soon as you achieve that parity, you need to sell the one benefit that only you can provide.

You need to sell you. You need to prove to the prospect that you offer more value than your competitor. You demonstrate this value offering by the information that you share with the prospect. You confirm this value offering by the benefit that you provide understanding your prospect’s business. By helping your prospect improve his or her skills and achieve personal goals, you make yourself irreplaceable.

If your product can help the prospect achieve a goal, your competitor’s product can likely do the same. If your company can support the product and the customer, then your competitor can do the same. You are the only genuinely differentiated benefit to the prospect, and you need to make sure your prospect understands this benefit (and the associated value offering).

You know that you have indeed won the deal if the prospect says they would buy either your product or your competitor’s product from you. You were the most valuable part of the sale. Have you ever heard those words from a new customer?

Suggestions to get out of the rut of doing too much event-based selling

It is quite easy to break the habit of pushing events rather than positioning yourself. Let’s break it down to two separate types of deals:

  1. Prospect is actively engaged with the next steps.
  2. Prospect isn’t calling you, but instead, you are always trying to do the next activity.

Prospect actively engaged

The first situation above is more straightforward. Your product is resonating with the prospect. However, this is a situation where it is easy only to do events and undermine the value that you bring.

In this situation, you must force yourself to engage with decision-makers. You must make appointments that allow you to interact with them without a demo or a presentation. A good rule of thumb is to do two or three personal meetings for every event based meeting that you schedule.

If your company and industry allow it, it is a great time to take the decision-maker to lunch. If lunch is not possible, ask them to meet in their cafeteria as it will at least allow a more casual conversation. 

Prospect is not actively engaged

This second situation is where the event-based trap typically happens. In this case, the prospect doesn’t seem to be “getting it” after your demos or presentations. You are frustrated as you have this opportunity on your pipeline, but it isn’t moving. 

The obvious, but the incorrect, conclusion is that you need to show them more so that they get excited about your product’s capabilities. Instead, you need to understand their goals and if your product can help achieve those goals. Too often, the customer isn’t returning your calls because you do not understand what is important to them.

A crude but effective opening for the personal meeting could be as simple as, “I am sorry, John, but the product we have been discussing doesn’t seem to impact you or your company. What am I missing? What are you trying to achieve by talking to us?” This open-ended question is something that is difficult to say with a group of people from the prospect or if you have an army of people with you. It is much easier to have this open and honest conversation if it is just the two of you.

The answer to that open-ended question will allow you to start selling the most important differentiator: YOU!

Header Photo by Free-Photos (Pixabay)
Don’t Send Your Prospect Your Sales Presentation

Don’t Send Your Prospect Your Sales Presentation

Almost daily, you are presenting to your prospects from one of your favorite presentation decks. The ubiquitous question at the end of the presentation is, “Can you send me your deck?”

Don’t do it.

While you should say that you will be sending the deck, you shouldn’t do it. Few things are so poorly understood as a well-created deck presentation without a narrative.

An excellent presentation has a minimum of words and explanations on each slide. It contains a few bullet points with maybe an appropriate image or graphic. The content of the presentation is all with the speaker, and the slides are merely there to give examples or prompt the discussion.

If your slides are appropriately made, how in the world would a prospect understand the message without you there to narrate? Worse is if those slides are forwarded to someone that wasn’t in the original audience for the live presentation.

A much more convincing document is a Word (or similar) document that has the slide images embedded into the material, but the “script” is also included. The script can be well-edited with appropriate marketing language and messaging. The end result is a superior document to the original presentation.

Here is a thumbnail of a document that uses this technique. It guides the user through the slides and uses the slides as images to give credence to the written explanation. This is a far superior way to share your slides with your prospect.

Marketing can help but shouldn’t be an excuse

Unfortunately, as with all great things that salespeople have to do, it is quite likely that your marketing department won’t create this document for you. It is one of those things that you will likely have to create to set yourself up for success.

If your marketing department will not create this document for you, it is not an excuse. Salespeople need to understand that they are the last line of defense. It is up to all salespeople to do whatever is ethically required to win the deal. Don’t make excuses. Don’t take the easy way out. Just get it done.

Salespeople should not be afraid to create this document. While it would be helpful for your marketing department to build the foundations of the delivered document, the salesperson should be free to customize the end result.

The reasons for customizations are simple, and marketing departments cannot expect to be able to react. The reasons include:

  1. A specific question or side conversation that happened during the presentation should be further expanded in the written overview document.
  2. Many sales presentations are combinations of other slide decks or a subset of a library of slides. There is no way to know what a finished slide deck will be for any given prospect or any given sales team.

While the challenges are real, marketing departments can mitigate this issue with a bit of thought and effort.

For the first issue above, the sales team wants to react to a specific situation that occurred in the meeting. The marketing department could create a standard “handout” document, but allow individual sales teams to customize it as needed.

In the other situation of a library of slides, the marketing department can easily create a similar library of descriptions. Then the sales team can quickly combine the standard pieces of text to create a handout document customized to the particular prospect.

If you are inspired to bring the handout document to your meeting, resist this urge. Most information handed out in a meeting gets thrown away almost immediately. While your followup handout document may also be thrown away, at least it will happen several hours or several days later, allowing your name to be on the prospect’s mind again. This is far superior to having your marketing message thrown in the restroom trash for the bio-break that happened immediately after your meeting. 

Header Photo by ttreis (Pixabay)
Do You Send Your Recruits YOUR Resume?

Do You Send Your Recruits YOUR Resume?

Recruiting great salespeople is an essential part of the job for any sales leader. New members of the company affect the overall culture and harmony of the company. Every added person expands and evolves the company in proportion to the numerical count of the employees, but also in proportion to the size of a given department of the company. The 5th member of the company or the department has a more considerable cultural influence than the 500th member.

Salespeople are different. They affect not only the sales team’s culture but also the outward culture of the company’s persona to the customer base. According to Mindflash, after a bad sales hire, 36% of their respondents reported a negative impact on employee morale along with a 22% negative impact on client solutions.

It gets worse. I would argue that salespeople are in a demographic of positions that are highly paid and have strict criteria. The Center for American Progress puts the turnover cost of that type of job at over 200% of the salary costs.

I would like you to view recruitment from a different perspective. Since this is a sales-oriented blog, you should look at it as selling and buying. If you are reading this article, you likely have changed jobs a couple of times, and perhaps you have hired or at least helped interview sales candidates in the past. So you may be an expert at hiring and getting hired. My philosophy is that hiring people is selling and buying at the same time.

Interviewing is selling and buying at the same time

While interviewing, both parties are trying to sell and buy at the same time. The interviewee is trying to show that s/he is qualified for the position and would fit into the company culture (this is selling). At the same time, the interviewee tries to figure out if this position fills personal goals and needs better than a current job or other companies being considered (this is buying). Both activities simultaneously occur – selling of skills as well as purchasing the culture and opportunity.

The company and interviewer are also buying and selling at the same time. The company is trying to deduce if the prospect has the skills and temperament to fulfill the needs of the company (this is buying). At the same time, the company is presenting itself as a great place to work with a financial package that is competitive in the marketplace (this is selling).

Sell your recruits by selling yourself

Do you sell yourself to your recruits? When you are in a startup, one of the biggest reasons that a recruit would want to join is YOU. They want to learn from you. They believe in your vision of what the company will accomplish. They want to draft off of your success to propel their success.

A great way to enhance your reputation when talking to potential new hires is to send them your resume. Yes, they will have surely checked you out on LinkedIn, but there is information in your resume that is not on LinkedIn. You probably have statistics like the number of times you have made quota on your resume. You may have the types of companies that you have sold to on your resume. All of these facts were placed on your resume to impress others – why not use them to influence the great salesperson that you want to join your team?

In my book, Eliminate Your Competition, I repeatedly tell my readers that they are selling three things:

  • The product
  • The company
  • You

These three things are also evident in the recruiting process. The candidate wants to know about the product. For instance, they will want to understand if it works or is it still slideware. Do customers like the product and find it worthwhile? 

They will want to know about the company. Does the company have decent benefits? Does the company have a good reputation with its employees and its customers? Does the company, as a startup, have a vision for the future?

The candidate also wants to know about you as the sales leader. Have you been personally successful? What kind of things are you going to teach a new salesperson? How are you going to help that new salesperson be successful? Your personal resume is a great selling tool during the recruiting process. Use it to convince the person that you want to join you and make your company a success.

Header Photo by Tumisu (Pixabay)

10 Things Sales Managers Should Know About Performance

10 Things Sales Managers Should Know About Performance

The following are key statistics every smart sales manager should know. The source of the following data is TAS Group which is now Altify, part of Upland Software.

  1. 2/3 of all salespeople miss quota
  2. 1/2 of all salespeople close at less than 40% of their quota
  3. The best reps are 250% better at qualifying leads
  4. 40% of salespeople can’t understand customer pain
  5. Only 46% of reps feel their pipeline is accurate
  6. Almost 1/2 of all sales teams don’t have a playbook
  7. Only 52% of salespeople can access key players at their prospects and customers
  8. When Sales/Marketing works well together, it adds 25% quota achievement and 15% win rate
  9. As I talk about in my book Eliminate Your Competiton if you make your response to your competitors part of your strategy, you are 39% more likely to be a high performing salesperson.
  10. Sales contribution to company strategy means a 15% revenue increase
Header Photo by PublicDomainPictures (Pixabay)

Are You A Salesperson For The Money?

Are You A Salesperson For The Money?

Why are you a salesperson?

Many people that have just begun their careers in Sales do it because they couldn’t find another job. Due to the high failure rate in Sales vs. other professions, entry-level jobs always seem to be plentiful even in the worst economic times.

However, after a few years of staying in this profession, why are you staying? Are you staying because you like free lunches when you take clients to lunch? Are you staying because you can occasionally play golf with clients? Are you staying because you like to be measured every day on your quota attainment?

Hopefully, you are in sales because you have the drive to provide for yourself and your family with the wealth that few other careers offer. Successful salespeople are among the highest-paid people in the community. While doctors and lawyers may get all the accolades and envious discussions, a successful salesperson can often generate more personal wealth than nearly every other profession.

While salespeople can be highly paid, it is not unusual that salespeople have very uneven paychecks. Even with the skills that I teach in my book, Eliminate Your Competition and on this site, you will not close massive deals every two weeks. In fact, if we define a large deal as being at least 10% of your annual quota, you will probably only close five to ten large deals per year. This requires a bit of wealth planning for a successful salesperson.

Immediately invest 10% and immediately donate 10%.

My first suggestion before you do anything with the commission (after paying any applicable taxes) is to donate a portion of the commission. Do it immediately, before you get other priorities. Taking care of your fellow man is one of the most important charters of well-to-do professionals. Many people do not have the blessings and capabilities that you enjoy, and it is your responsibility as a caring human to make their life easier.

While everyone has different targets for sharing their wealth with others, I strongly suggest that you set 10% as your goal. Giving 10% of your income to charity has been a template for caring for others since words were written on bark, animal skins, and parchment. It is a time-honored tradition and has proven to be completely within the capability of anyone who has been given great gifts in life.

The next thing that you should do with your big commission check is to pay yourself. Regardless of your effort, you will hit a dry patch of revenue. Maybe the industry or locality that you are in will suffer a recession. Maybe your company will fall behind the competition, forcing you to find new employment. As with everyone, eventually, you may want to not sell every day and may want to sit on a beach, visit family, climb mountains, or tend a vineyard. No matter how much you love your job, someday you will want to do something more enjoyable.

To save for that rainy day or even that day when you don’t want to work, you need a plan. That plan is well described in my book The Confident Investor, but it starts with paying yourself first. It starts with taking 10% of that commission check and putting it into an account where that money will work for you and grow. My book The Confident Investor and its accompanying site can help you make that money grow more quickly than most methods, but the first step is to set the money aside.

So right now, before you get that check for the big deal you are working on, prepare for the commission. Find two or three charities that you can support. Find out how to efficiently donate to them. You don’t need to set up a trust or anything fancy – just find out where to send the check. If you don’t have a specific charity, consider a donation to your neighborhood church or The United Way.

After the charity has been found, open up an investment account. There are multiple brokerage companies that you can consider and my book The Confident Investor will help you find them. If you don’t want to buy my book, consider opening an account with Fidelity, TD Waterhouse, or Schwab.

Header Photo by geralt (Pixabay)

%d bloggers like this: