10 Easy Ways To Save Money When Starting Out At A New Sales Job
I remember when I took my first corporate sales job, slinging mortgages. I was broke AF when I walked in the door. Prior to that, I had been selling car washes for around $10.50/hour. I couldn’t afford to be there and I couldn’t afford to screw it up. I had to get good with money quick.
The same thing happened to me in 2008. I had just gotten out of federal prison for firearms charges (‘Merica) and while inside, my (ex) wife had left me for the gardener. She had also taken all my cash and assets. I had nothing but one option left: my new job. I looked at it as my last chance, one I couldn’t afford to blow.
All OG salespeople have been there. We’ve all started at the bottom at some point. Allow me to do the OG thing and hook you up with some knowledge on how you can save some cash while you’re in a tight spot, building your pipeline. Here are 10 easy ways to save money when starting out at a new sales job:
#1: Download Smart Phone Apps
When you start out at a new job, it seems as if you always need to buy something technological. Software, devices, or whatever. It all varies from company to company. Most of the products that cost quite a bit of money can be found for as low as ninety-nine cents or even for free on your smart phone. Check your phone store before you buy anywhere else.
#2: Advertise Online Instead of Buying Paper and Toner
These days, you don’t need to get business cards, print flyers or any of that. Thanks to social media and sites like Craigslist, you can do all the advertising and prospecting you need to do, online and paper-free. Toner is one of the most expensive office supplies on the planet. Save the cash by going online and marketing there.
#3: Split Costs with a Coworker
Most likely, there’s someone else new in the office who’s just as broke as you. Hook up with that person and agree to split some of the higher costs involved in doing your job. Maybe even divide the cost of an online marketing campaign.
#4: Use the Company’s Materials
The company already has swag, marketing materials and stuff you need. Don’t reinvent the wheel and think you have to have something cooler. Save the cash. Use the materials the company provides. Even use their paper and toner, if needed. Use anything the company supplies instead of going out and buying your own. You can get your own later when you close some sales. For now, make do with what you have available.
#5: Network Online to Save Gas and Food Money
Food and gas are the most expensive parts of starting a new sales job, especially if you have to drive around and buy prospects’ lunches. It can add up quick. Networking meetings don’t take place at Wendy’s. You can blow 20 or 30 bucks at one single networking lunch, and that’s not counting gas money. Network online, eat a sandwich and save your money. These days online and offline networking are equally effective.
#6: Meet Prospects at Your Office
As I mentioned earlier, gas and food add up quickly, especially when you have to buy for others. Sure, the company may reimburse you, but you may not have time to wait until they do. Meeting prospects at your office saves you from having to buy anything. It also gets the prospect on your turf, so you have a better chance of closing the deal—bonus!
#7: Only Go to Networking Events with Free Food
Similar to the gas and food equation, also stay up to date on the free food spots. I had a friend who knew every spot in town that offered free appetizers for each day of the week. He only went to events with free food. He didn’t buy dinner, but like five times a year! This can save you $100+ weekly.
#8: Drink Only Water at Happy Hour Meet-ups
You may think I’m being insane here, but let’s get real. If you don’t have much money, the last thing you need to do is drink. If you’re broke, you don’t need to celebrate. Save the money and get some sales closed. Also, if you’re sober and your guests are buzzed, you’ll have the closing advantage over them. People agree to the best stuff when under the influence. Let that happen to them, not you.
#9: Take Your Lunch to Work
Saving 10 to 20 dollars each day by taking your lunch is a no-brainer. Between saving on lunch and the networking events sponsoring your dinner each night, you can save at least 50 bucks. That 50 bucks can go toward things you do need, like marketing campaigns, and other materials that will generate more sales for you. Taking your lunch to work is easy. In 2008, I ate sandwiches and chips every day for three months while I built my empire.
#10: Use Public Transportation
I live in Dallas where we have an awesome rail situation. If you can take public transportation to work, do it. Trains here are filled with all sorts of people. Besides saving money on a car and gas, you can also talk to new people and possibly run into a few new prospects. You’re a salesman, in the middle of a lot of people. Surely, by doing this enough, you’ll get a sale somewhere.
Starting out broke in a commission-only job can be tough. If you’ll stick with it though, there is light on the other side. In 2008, I was broke AF and now I’m not. Matter of fact, by the end of 2008, I wasn’t broke any more. I went from eating sandwiches for lunch each day to dining at the best restaurants in the area. It just took discipline, determination and patience to make it happen. You can do the same. Stay the course. If you want to fast track your success, get a FREE paperback copy of my book by clicking the banner below.