I've worked in the same industry since 1990 when I took a summer job at the bottom rung. Went full time after graduation. Switched companies only once in 1994. This year will mark 30 years with my current employer. Its been a good ride with a good group of people. We built a solid company up from 7 employees to almost 50 today. For the bulk of my career the products I sell were in growing demand and there were technology advancements along the way that kept things interesting and boosted demand. The product matured and there really is nowhere left for the technology to go. Covid gave us a sugar high as businesses had PPP money to spend and a couple of competitors fell by the wayside. The Covid years were some of the best sales years I've had in my career. Every business that needed what I sell or who had been putting off needed upgrades bought it between 2020 and 2023. Now I am looking over a cliff as demand for our core products has plummeted. New opportunities in the past 12 months have been few and far between and existing accounts are using the products they have from us less and less and certainly don't want or need to make upgrades. Live by technology......die by technology I suppose. I've built a very solid book of business over the past 25 years but slowly watching it slip away as clients need less and less of what I sell.
Now I'm at a crossroads. 55 years old with all my eggs in one basket..........making decent money with some good perks. About 80% of my income is commissions on new placements and upgrades of existing hardware and software. Need another 10 years of solid earnings but not hopeful that the current company will right the ship. The company ownership has been trying to go in another direction by focusing really hard on our second division that I have no involvement with and where there is no need for outside B2B sales reps. So much effort has been being put into our other division that when I need ownership's support or direction they are MIA or disinterested. Ownership does not seem to be interested in changing up the comp plan to keep me on board to support and maintain the client relationships I've built as demand for new sales plummets. Based on what I'm seeing I would not be shocked if my commissions in 2024 were down 30% or 40%.
I really have enjoyed what I do but very concerned about the future. Do I try to stick it out where I'm at or do I start looking for something new and start over from ZERO? Feeling trapped. The thought of starting over at 55 is a daunting one. Thoughts? Encouragement?
Now I'm at a crossroads. 55 years old with all my eggs in one basket..........making decent money with some good perks. About 80% of my income is commissions on new placements and upgrades of existing hardware and software. Need another 10 years of solid earnings but not hopeful that the current company will right the ship. The company ownership has been trying to go in another direction by focusing really hard on our second division that I have no involvement with and where there is no need for outside B2B sales reps. So much effort has been being put into our other division that when I need ownership's support or direction they are MIA or disinterested. Ownership does not seem to be interested in changing up the comp plan to keep me on board to support and maintain the client relationships I've built as demand for new sales plummets. Based on what I'm seeing I would not be shocked if my commissions in 2024 were down 30% or 40%.
I really have enjoyed what I do but very concerned about the future. Do I try to stick it out where I'm at or do I start looking for something new and start over from ZERO? Feeling trapped. The thought of starting over at 55 is a daunting one. Thoughts? Encouragement?
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