We're a startup company providing payment services/network/platform, we are similar but not like conventional payment service providers. The product has just been developed, compliance is underway - basically we're good to go in the coming 2-3 weeks.
We have "recruited" 2 sales executives working with us on a revenue share basis, offering up to 30% (which is rather high for this industry). However at this point it does not seem to be enough, especially since one is entirely focused on a few states in the US, and the other works only within one country in EU.
It seems impossible to seek sales consultants working on a rev share basis, we've tried searching on sites, and even linked in.
Any idea where to find the correct sales people?
Thanks in advance!!
Overview Not all experienced and skilled sales person will have the transferable skills you need for your start-up company. Sales people have developed their skills in particular market environments.
A sales professional that earned six figures in real estate during the boom may have a hard time in a contracting market. A "farmers" that is use to cultivating an existing book of business will have a challenge in an environment where they need to build the book of business.
One of the biggest challenges for you in attracting and retaining a high-caliber sales profession into your organizational environment will be the match of their skills to the unique situation your company is in now.
Multiple Challenges My assumption is that there are other challenges for a company in your position:
Until there is a proven replicator sales model it will be extraordinarily challenging to find a sales professional to work on a pure "revenue share" basis. You will attract people who will invest a couple weeks of time hoping to catch a nut or two, which will then pay them to continue. If they don't secure those opportunities -- by lick or existing relationship -- they will probably move on.
P.S. It is probably not a commission issue It is probalby not a commission issue. Your percentage, and it being more than market for an established business, is probably sufficeient. the issues is ensuring the sales professional has the momeny in their pocket to stay engaged and interested. Sales people that work on commission (shared revenue) are primarily financially motivated until their "base needs" have been met. Without money comming in they will not be able to continue.
So what do you do? There are really three options for you at this stage.
Wise words Joseph.
Regarding the challenges you mentioned;
The value proposition has been clearly defined, though it we definitely lack brand equity and it will take time to establish this.
Without significant help from sales consultants it will be a long road, and you're right in mentioning the three options. We are attempting to avoid outside investments, although we do have the possibility to head to that direction. We currently put our sales hat on and working with our contacts to achieve new clients.
I guess we need more patience - though we did set objectives to clearly mark if we are heading to the right direction or not.
So from your experience - is there some way to reach more "consultants"? Or is it merely seeking within our own contact-base?