Developing a Comp Plan

How to Develop a Sales Compensation Plan

How to Develop a Sales Compensation Plan

Description: Not sure how to create a proper sales compensation plan for your small business? Here are some suggestions to get you started.
One of the keys to running a successful small business is developing a sales compensation plan — specifically one that’s good and fair. Unfortunately, many businesses don’t know how to develop a sales compensation plan.

In this post, we’ll set out to solve that problem. We’ll also delve into critical sales compensation plan details, such as setting goals, measuring performance, finding a balance between pay and incentives, and updating the plan to align with current market conditions.

Sales team meeting to put together a contingency plan for their business

How to Create a Contingency Plan for Your Business

No one could have anticipated the unprecedented effect of the coronavirus on our economy. Local and state governments enacted stay-at-home orders across the country, which forced nonessential businesses to close their doors. Considering about half of small businesses say they can survive for only two months under current conditions — and one-third say no more than six months…

Woman Sales Leadership Consultant Leading a Team

Why Small to Mid-Sized Businesses Need Sales Leadership Consultants in a Crisis

What Is a Sales Leadership Consultant, Why Are They Needed (and Why Should You Be One)?

If there’s one thing that’s become clear after several years working with small to mid-sized business clients, it’s this: they truly need and benefit from the sales leadership that fractional sales leadership consultants provide. This fact, of course, raises three questions: 1) Just what is a sales leadership consultant? 2) Why are sales leadership consultants so important to smaller businesses? and 3) Why should an experienced sales leader consider a career in sales leadership consulting?

Let’s answer these essential questions one by one:

Sales and Marketing sitting down to have a strategic meeting

3 Ways to Smooth the Friction Between Sales and Marketing

Of all the departments within a small business, perhaps no two have a more dysfunctional relationship than sales and marketing. Different surveys reveal different reasons for this, but the most common culprit is poor communication. The sales team might believe marketing should provide better leads, while marketing might think sales should do a better job closing the leads it does generate.

Sales team discussing strategies for seasonal fluctuation in their business

Sales Tips and Strategies for Business Facing Seasonal Fluctuations

Every business has its challenges. But when your sales cycle is seasonal, it introduces a host of unique issues that can threaten a company’s bottom-line sustainability and inhibit future growth. When you have uneven periods of sales and annual revenue depends on a narrow window of opportunity, planning carries a higher risk of being off-target and misdirecting cash flow. The reality is that if your season doesn’t go well, the whole year can be lost.