Three Reasons Why Software Sales Guys Go Broke in Buckhead

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Three Reasons Why Software Sales Guys Go Broke in Buckhead

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July 13, 2014

Just closed a big deal, didn’t you?   Now you are the big man on campus as you swiftly exit Johnny’s Hideaway and slide down to Landmark Diner for a 3 a.m. burger.  You pop a ride home with Uber so you don’t bang up the finely tuned up Porsche you just bought, and then it’s on to five days at a four star hotel in Cost Rica.  While it seems like your leading the life of Riley, your ATM statement says otherwise leaving you scratching your head on where all of your cash is going.  So why do software sales guys go broke in Buckhead?  Here are three insights from the Tech Financial Advisor.

  1. Bar bills, fancy restaurants & night clubs: We’ve all been there when someone pulls out their credit card and buys a round of drinks for the whole group.  What do you have to show when you wake up the next morning with a $300 bar tab?  There is some great affordable dining in Atlanta so is it really necessary to eat out at restaurants where your tab is averaging $150?  The big kicker here is don’t fall in the trap of buying a table at a night club for your buddies just because you’d like to celebrate your big deal.  We understand you like to live it up, but spending $2,000 at a night club can’t be the best use of your money when considering the other savings and investment options out there.
  2. Buying the latest and greatest sports car when you really don’t need one: We’ve seen it all in our profession.  Guys buying $100,000 cars when they have no savings, just so they can impress the ladies on a Friday night when the valet pulls the car up.  When you have large commission checks coming through from deals it doesn’t entitle you to commit to a 3 year lease paying $700/month on the latest sports car.  I personally drove a Honda Civic for 9 years because it was paid off.  Take pride in driving a car you own, because at the end of the day nobody cares what kind of car you drive.
  3. Spending hundreds of dollars on nutritional supplements and gym memberships: I don’t know what it is with guys these days but the supplement industry has a done a tremendous job convincing us to purchase extraordinary amounts of vitamins, protein powders and nutritional supplements.  Do we even know if these pricey supplements and powders really help us achieve our nutritional and workout goals?  I see friends talking other friends into the latest and greatest pill to pop or powder to mix before a workout not even realizing the costs.  You don’t have to do it!

The bad news is you won’t make hay forever.  You realize that HR will eventually figure out they are overpaying you for revenue to build the company valuation and the free hot air balloon ride will end, don’t you?  The good news is that I’ve helped dozens of guys like you before and with a good plan we can find Rumpelstiltskin in the haystack and you’ll be sitting on a pile of cash so you can do Johnny’s Hideaway anytime you’d like.  Just click ENTER and find out what other successful software sales guys already know.

Written by:

Brandon Hayes

Private CFO™ and Vice President oXYGen Financial, Inc.

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About the author

a man wearing a suit and tie

Brandon Hayes

Vice President, Private CFO®

In 2011 Brandon opted to forego a long-term career in corporate America to join oXYGen Financial because he was impressed by the vision of creating a premier independent financial services firm, which strives to provide unbiased advice to the X & Y Generations.

A native of Westlake, Ohio, Brandon currently lives in Atlanta with his wife Aly and their black lab Pepper. He's the youngest of three children and played soccer through college. He's an avid runner and enjoys cheering for Cleveland sports teams despite some pretty rough years.

Credentials/Certifications:
CERTIFIED FINANCIAL PLANNER™ and MBA from Georgia State University in Entrepreneurship. Brandon holds his Series 7 (General Securities Representative), Series 63, Series 65 (Investment Advisors Law) and Georgia Life, Health and Variable Insurance licenses.

Background and qualification information is available at FINRA's BrokerCheck website.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.

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