Hunt #4: The telecom industry can be extremely lucrative

Build a client base & reap the rewards (long-term!)

Author

The Quota Hunter
July 08, 2024

Good morning hunters!

Today's newsletter covers an overview of intlx Solutions & the world of telecom, some recently captured HOT jobs I think are interesting, and parting words of wisdom if you’re struggling to land an Account Manager role.

Enjoy!

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Main event

Spent some time with Dan McCabe, Executive Director of Sales at intlx Solutions, a technology and consulting leader in the telecom industry.

In this “hunt”, I break down an overview of the industry & intlx along with a ‘day-in-the-life’ of a sales rep to provide an overview of what you could expect if you were a seller on his team.

Prior to this chat, I knew nothing about telecom but left feeling like it could be an incredible fit for so many sellers (including me).

Let’s dive right in!

Career Background

Dan has spent time at companies like Votacall, Acronis, Thrive, and most recently, the past 6+ years at intlx Solutions.

Most of his experience is in telecom, cybersecurity, and IT Services and he has consistently overachieved throughout his career.

He joined intlx in 2018 as a Senior Account Executive and quickly moved up to leadership as their company grew from < 10 employees to 40+ in 2024.

Telecom overview

In the telecom industry, enterprises purchase phone systems that can be hosted on-premise, in the cloud, or as a hybrid solution.

Many industries like healthcare & financial services continue to choose on-premise solutions because it can enable a hybrid solution which can offer greater business continuity at a lower price than the cloud…plus, it can be a more secure way to protect data.

Given many engineers have moved away from telecom over the years to “sexier” industries, there’s a deficit of knowledge on how to set up and maintain these intricate systems.

That’s where intlx Solutions fits in perfectly.

Overview of intlx Solutions

They were founded in 2015 and help customers solve very complex and technical challenges such as setting up call center solutions & managing and maintaining enterprise-level phone systems with 5-50+ endpoints.

They work with organizations all across the country (and globe) like Massport, Market Basket, US Air Force, and large healthcare providers.

Aside from phone systems, they sell solutions that include Faxing, E911 Compliance, Paging, Video Compliance, and more. What I thought was really cool about the business is they can sell many products and solutions through channel partners (including cybersecurity managed services).

Their ideal client has 50+ endpoints but can range up to 40k+ for very large organizations. They’ve done an exceptional job at keeping clients happy and solving their needs which means they’ve consistently renewed contracts (while growing them) by selling additional products and services.

Also, there are a few competitors in their space that have struggled which means they’ve been able to pick up new customers due to their strong brand in the market.

Main differentiators

In talking to a few of their employees, it’s clear they have a few x-factors that set them apart from other companies (and their competition). Here’s a few of the examples I heard:

  • Strong leadership who are very acknowledging of hard work

  • Tight camaraderie amongst the team, flexibility day to day, transparency throughout the company, everyone is great at giving kudos, and amazing work/life balance

  • They have added their own software development team to continue to differentiate themselves by growing their go to market offering with custom home grown solutions 

Day-in-the-life of a salesperson as intlx Solutions

Given the above, they’ve generated considerable web traffic thanks to their amazing Marketing Manager, Carly Larkins, and have 1 BDR who works leads and sets up meetings on behalf of their salespeople.

Their salespeople are also responsible for building relationships and booking their own meetings. One benefit they have is they keep hiring incredible engineers from within their industry, and because many of their former customers don’t want to lose their relationship, they follow them to intlx. What a vote of confidence for those engineers (and an insane help to their salespeople!!)

One of the challenging parts about their business is they may build relationships with companies who are unhappy with their current providers but are locked into a contract for 1-2 more years which means there could be a delayed gratification between interest and signing a deal.

This also shows one critical component that many salespeople may not like…

To reap the benefits in an industry like this, your tenure MATTERS, which means this is probably not a great fit for someone who gets easily bored and/or is not interested in sticking it out with one company for 4+ years.

When a customer shows interest in working with intlx, they roll out the red carpet for them which can include an on-site meeting with their CEO, engineers, and salesperson. This is the type of industry where relationships are important which means there are opportunities to travel, take customers out to lunch, etc.

I really admired how well Dan organizes his week (and that of his team). They come together once a week for team training sessions, meet with vendors on a regular basis to stay up-to-date on their technology and offerings, and reserve time to meet with customers.

I’d personally enjoy that system as it seems like all needs are covered while maintaining a nice routine.

Want to learn more about intlx Solutions?Check out this flyer!2.12 MB • PDF File

Earning potential

What’s exciting about this industry (and intlx especially) is the earning potential. They offer a system where salespeople earn a percent of all profit on the deals they bring in (including renewals). intlx also has an incredible comp plan where salespeople can earn quarterly bonuses (and if they miss a quarter or two and then catch up to plan, they can earn those bonuses they had previously missed).

That is something I’ve never heard of before…and freaking LOVE it!

Sales rep salaries range based on experience (and can be greater than that based on prior experience/background) but it’s clear that a SaaS enterprise AE likely would need to take a step-back salary-wise if they were to jump into this industry.

But, with a higher percent of income based on commissions/bonuses (and a very lucrative comp plan), earning potential in the first few years can definitely surpass $200k for those that are successful.

And once those residuals start rolling on…sky is the limit!

Final thoughts

  • Industries like telecom can offer lower salaries than SaaS….but have more reliable (and possibly larger) earning years with a higher weight on commission.

  • Building a book of business can be very rewarding, especially when earning several thousand dollars (or more) every time a customer renews.

  • This likely isn’t an industry for someone who enjoys jumping from company to company.

Recently captured jobs

Words of wisdom

Recently talked with a salesperson who has an incredible personality but is unfortunately struggling to find a new Account Manager role in such a tight market. Instead of focusing on account management, I recommended a full-cycle territory sales role outside of SaaS. Here’s why:

  • If they join a company with existing clients in their territory they’re able to jump right into an Account Management-type role

  • Would enable them to flex their relationship building superpower

  • They can sell a tangible product/service (which they’d crush) while maintaining the customer relationship from start-to-finish

  • Many outside sales territory jobs have less applicants than SaaS roles which increases the likelihood of earning the role

  • These roles might have a lower salary than a SaaS AE role, but, earning potential could be extremely lucrative long-term (and more stable)

Food for thought for others in a similar position.

That’s all for this week. Happy hunting!

Jay Green “The Quota Hunter”