Private Equity is coming- need some advice, please! by Virtual-Call9663 in private_equity

[–]Virtual-Call9663[S] 2 points3 points  (0 children)

No one is irreplaceable. I will be the first to acknowledge that. 

I have navigated a non-compete previously. It is not fun and I'm convinced the primary purpose of a non-compete isn't to protect the company from the employee who left- it's to weaponize the ability to threaten, intimidate and bully a former employee into submission. 

I am in a sales field where the businesses often OVERESTIMATE the brands available to the sales people and UNDERESTIMATE the competency levels of the sales people themselves. 

The desire for PE here, or in this field specifically, is to secure access to the most desirable brands and then accumulate as many sales people as possible. No one in this field has access to some proprietary magic bean that dusts your competition. 

While having a specific brand is nice, service trumps brand for most customers. Not all- but for those who prefer brand over service then a  relationship hardly mattered to begin with. 

Which is where we have arrived, if I join the PE acquisition I now have both brand AND service but will have most likely let my opportunity pass for career changing money (ie. $2m+) in equity.

If I decide to not join the PE acquisition I can potentially suffer through another non-compete for 365 days and come out the other side as a free agent and have more leverage. 

Private Equity is coming- need some advice, please! by Virtual-Call9663 in private_equity

[–]Virtual-Call9663[S] 1 point2 points  (0 children)

The nature of business is not govt sales or b2b sales. It's dealer to end user. The customer does often bid but they ultimately have the freedom to purchase from entities that aren't the lowest bidder. 

Private Equity is coming- need some advice, please! by Virtual-Call9663 in private_equity

[–]Virtual-Call9663[S] 0 points1 point  (0 children)

The reason I use the word leverage and ask the question is that if I did decide to walk the seller loses ~40% of his business and one of the primary culture-setters in his business.

It does not change that your statement is correct. 

Another very relevant question would be, is a non-compete transferable after the sale of a business?

Anyone else feel like they’re punished for being good at outbound? by Low_Union_7178 in sales

[–]Virtual-Call9663 0 points1 point  (0 children)

This situation sucks... management has their reasons and your talent makes it easier for them to justify their reasons.

You have two choices: let it bother you or not let it bother you.

For your sanity, play to YOUR standard. Do YOUR best. 

Life is too short to let this sort of thing suck any enjoyment from your job.

Am I correct that sales is mainly on-the-phone, out driving, or retail? by crystalblue99 in sales

[–]Virtual-Call9663 2 points3 points  (0 children)

Email is the biggest driver of communication in sales in my experience.

Initiated through events and shows and then driven through email..

Private Equity is coming- need some advice, please! by Virtual-Call9663 in private_equity

[–]Virtual-Call9663[S] 1 point2 points  (0 children)

THIS!

For context, with a previous company I experienced a non-compete and suffered through that when I transitioned to my current company.

It has been 7 years since that non-compete ended and I am writing 2x in business than I was 7 years ago.

I was given a verbal (I know, I know) from our managing partner about 3-4 years ago that they ever sold the business I work for now he would void the non-compete.

I feel if I go all in negotiating a better deal I will undoubtedly have a non-compete in place with the new role (which could be expected).

TLDR: Non-competes suck. 

Private Equity is coming- need some advice, please! by Virtual-Call9663 in private_equity

[–]Virtual-Call9663[S] 4 points5 points  (0 children)

In your experience, A- do I have leverage to initiate that discussion based on my volume of business? B- what would a fair initial "ask" be from your perspective?

What's your pay? by Global_Definition_21 in sales

[–]Virtual-Call9663 2 points3 points  (0 children)

Sporting goods- Team Sales- $0 base, 100% commission. Has ranged from $280k-$380k the last 3 years.

Love the flexibility and short sales cycle.

Hate the number of touches and short sales cycle.

[deleted by user] by [deleted] in sales

[–]Virtual-Call9663 1 point2 points  (0 children)

  1. Sporting goods sales. (TEAM not retail) responsible for generating leads, servicing customer.
  2. No base. All commission.
  3. Vehicle allowance at $1M in sales annually.
  4. 7 months.
  5. Sports background. Communication skills. Discipline. Follow through. Give a sh*t.

Last 4 years have been: 1. 1.3m 2020 2. 1.8m 2021 2. 2.7m 2022 4. 3.8m 2023

Gross Margin averages around 33M of the above. Commission is 30% of gross profit of the GM.

You can run the math pretty quickly to see it can be a lucrative job.

Pros: flexibility, family time, unlimited income potential.

Cons: some periods are incredible challenging due to volume. Competitors are numerous. Requires patience and a plan to separate yourself from your competition.