Someone from B2B sales, top salesman at a company owned by a publicly traded BDR (private equity)… approached me to tell me that he’s struggling with money.
B2B sales, while lucrative, can have sales cycles that last for 1-4 years (not an exaggeration).
This leads to variable or inconsistent income.
So while this exceptional salesperson regularly hits $1m/quarter sales quota, he was also living off of credit cards and pay day loans in-between deal closes.
When he came to me he was almost embarrassed about his situation, and asked me if I’ve ever dealt with a situation like this before?
The answer? Yes, of course.
I have seen top performing sales reps at companies before that needed to take advances from their employer because they have multiple kids, a huge mortgage on variable interest rates, a fleet of Mercedes AMGs to pay for, and all the stuff in-between.
Have seen people with 6-figures of non-mortgage debt, dealt with multiple high stakes divorce cases, and all the in-between.
Life throws us curveballs, and money is a part of life.
The problem? He’s never had anyone sit down with him and work out the money situation with him.
His wife is raising 3 young children at home and is not aware of the full financial picture.
What you need in these situations is a professional that can walk you through everything and handle it calmly.
Someone to review your income and expenses and come up with an actual budget.
Someone to show you what his kids’ 529’s will look like in 10 years if you set aside $X amount for them each month.
Someone to show you what your family retirement plan would look like if you got out of debt and started investing that money.
A trusted advisor that can help guide you with savings, wealth planning, investments, taxes, and all the in-between.
It’s okay to make money mistakes, have set backs, and not be where you want to be financially.
What’s not okay is not doing anything about it.
If this resonates with you at all, hit me up with a reply and let me know what money problems you’re struggling with. I read all of the responses and will write back to each one.
Alice