Displaying posts categorized under

Compensation

Using your network to make contact

Sales professionals live and die by their network.  Becoming a very successful salesperson typically means that you can use your network to its fullest to get and GIVE introductions, referrals, and more.  There are dozens of posts on ways to build and maintain your network (and I’ll likely have several posts here on this), but what do you do when you want to ask someone in your network for assistance in making contact?

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Minimizing Sales Staff and Re-evaluating Comp Plans

As the credit crisis holds, many start-ups are going to start looking to make sure that they hold onto cash as long as they can.

That may include the decision to eliminate and/or outsource a portion of your sales staff.  And, this can often be a very wise business decision.  Of course, the cartoon to the right takes it to the extreme, but as start-ups and other companies decide to eliminate sales staff, the challenge becomes on how do you continue (and accelerate) your trajectory in sales with less sales staff and potentially less resources (minimized travel budget, etc).

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Win, Lose, or Draw

I’ve gotten into two lengthy discussions recently about draw as a sales compensation component.  Specifically, since I work with start-ups, the questions were around whether or not you should offer up a draw or not as part of the compensation package.

I have some very strong opinions about draw, and I want to start by going over the basics.  Draw is compensation offered to a new salesperson coming on board.  There is a “draw period” which is the time over which the draw is paid.  (typically 3 to 6 months).  There are two types of draw:

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Sales of a FREE product mirrors challenges of marketing

I plan to write extensively about the challenges that I have had in developing and managing a sales compensation plan on a free enterprise product. 

As a matter of introduction, I was talking with one of the other managers of my company on Friday, and while we were talking we came to one giant realization about sales compensation/motivation on a free enterprise product.  That realization is that enterprise sales becomes similar to a marketing challenge.  In marketing, you never know ahead of time what the right places are to spend your money.  Yes, you do market research, and you think hard about where to advertise, where to promote, etc.  But, ultimately, many of the places you promote your product are not right, and some exceed expectations.

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Sales Teams have NO room for prima donnas

So far in my latest gig, I am happy to say that I have not heard my sales people ever complain about grunt work that had to be done in order to get the sale; however, I can tell you that in my career I’ve seen it a lot.

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Why I'm happy about my tax bill

Let me say that I am one of those people who HATES taxes.. and really cannot understand any reason why we cannot stop spending tax money on moronic things, reduce the size of our government, and lower our taxes – but this blog is NOT about my political views, its about my rumblings on sales and sales management.

So, then why am I happy about my tax bill and what does it have to do with sales.

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