30 years old, 8 years in sales, historically hit or exceeded quota. Married, trying to start a family, and pretty fucking motivated to make money. Need some perspective from people who've been doing this longer than me.
Current job: $70k base, benefits, enterprise security sales. Team shrank from 6 reps to 2, quota tripled, and I'm now expected to sell $2M/year of a complex, ~$50k average deal product. No dialer, no LinkedIn Premium, no tools, no conferences, no coaching. Just HubSpot, Gmail, my cell phone. My hair is literally going grey...
Management also tried pushing 7 AM-7 PM desk hours, and we're effectively barred from taking time off around Thanksgiving and Christmas. I've gotten FIVE inbound leads in nine months.
It's a shit show. I know I need to leave.
The alternative is a friend's company, 1099 sales, 15% commission on revenue, one time payment. Average deal is ~$3,000 but can go significantly higher, so roughly $450 per average account I close. No benefits, but my wife has us covered there with her current full time job. Yes, I have done the math on the taxes, I know what I'm getting into there, that is a non-issue.
He's sort of giving me two options: $2k/month retainer to work full-time 9-5, or flexible hours and commission only.
The main reason I'm immediately considering it is that the product actually sells, and I do think it's a fantastic product. I've sat in on demos, and multiple prospects have literally said it's underpriced. Their full-time rep has 30+ demos this week alone, plenty inbound, closed 3 deals last week, and supposedly has another 15 close to signing. These are typically 1-2 call credit card closes, not six-month enterprise sales cycles.
By my math, around 9 closed accounts a month gets me to roughly my current take-home, but obviously that's not guaranteed. Any more and I'm out ahead, and it seems like 10+ closes a month is extremely doable...
The flexibility is also huge. I've got a voice acting career that's finally gaining some traction, and being able to pursue that without asking permission would be worth quite a bit to me.
But... I'm young enough, and miserable/desparate to leave my current position. My wife supports me either way, she is a saint, and I can't really tell if I'm just jumping ship to get out. Am I looking at a genuinely better opportunity, or am I so antsy to escape my current company that I'm ignoring the obvious risks?
Would you take the leap? Or say fuck both and find another W2? There's a chance I get laid off on Friday anyways...like I said, company is a shit show. Was debating trying to overemploy and quiet quit until I get let go, but it seems like that's more headache than it's worth, and the new company may want me going full steam ahead.
Especially interested in hearing from people who've actually made the W2-to-1099 jump. What am I not thinking about?