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To help determine a company's true profitability, here are the first three questions we ask brokers:
Is Your Profit an Illusion?
Increasing Share Value through Sales Compensation Design
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While many companies focus on increasing profit, and therefore shareholder value, relatively few focus the same effort on improving their multiple. So, what drives this multiple?
TOP 6 Tips for Compensating Sales Managers
The following tips can help you design compensation packages that will motivate your sales force managers most effectively.
How to Make Each Sales Associate a Profit Center
View each sales associate as if he or she were an individual company. (Your firm as a whole is then like a big conglomerate.)
At Risk of Losing Your Top Producers?
In our work with hundreds of sales organizations, we see many making the same mistakes with regard to their top producers. To keep from losing your best sales reps, here's how to avoid these common pitfalls.
Dealing With Change
But we are also seeing companies succeeding, despite market fluctuations. Companies buying up other firms, recruiting top producers away from weaker competitors – companies that are growing rapidly.
Aligning the Goals of the Sales Force & Management
When management start talking about increasing profitability, sales representatives start to worry. They know improving profitability usually means cutting commissions and eliminating expenses, possibly for marketing, administrative support or benefits they value. They are concerned the increased profitability will come at their expense.
But that's not the way CM Global Partners and CompensationMaster approach the situation.
NEW PRESS: Your Front Line Sales Manager - Glorified Sales Rep or Driver of Growth?
CM Global Partner's CEO, David J. Cocks, has recently been interviewed by David Massover in an Ebook titled Your Front Line Sales Manager - Glorified Sales Rep or Driver of Growth.
Can Companies Improve Their Sales Process Using Strength Based LEAN?
Sales are regarded as a mysterious art where performance depends almost entirely on individual ability. Organizations tinker with compensation schemes and metrics, but never really look to solve problems or eliminate the waste in their processes.
Most sales processes are 85% PURE WASTE and add no value whatsoever to either the customer, profitability of the company, or the performance of the sales representative. The way to unlock this huge cost drain is to apply Strength Based LEAN improvements.
Top 6 Considerations When Applying LEAN To Sales Force Compensation
The challenge of designing sales force compensation plans is to create an environment where sales people are motivated and a transparently business culture is created. It is vital as many obstacles as possible are removed from the process so sales people can maximize their results while ensuring the company’s greater goals are met. Those goals could include achieving profitability targets, increasing revenue, controlling expenses or recruiting and retaining a desired sales force.
From our experience spanning over 25 years, the below points are vital to enhance the process of successfully setting up LEAN to your sales force compensation plans.