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Creating Sales Compensation Packages

Comparing base salary, commission, bonuses and combinations. Compensating the sales team is one of the toughest things to get right in your business. If you pay them too little, good salespeople will leave for better opportunities. Pay them too much, and they get complacent and stop growing revenue. To inspire and motivate top-performing salespeople, you must use the Goldilocks Principle and get the compensation package “just right.” Let’s look at…

In Sales, Say What You Mean

Don’t use wishy-washy words when communicating with buyers. As a salesperson—and you are if you’re a business owner—you’re familiar with hearing wishy-washy words from your prospects. Responses such as “I believe there’s a good chance,” “Things look pretty good,” or even, “We’re inclined to place the order this quarter” may sound positive on the surface. Upon closer inspection, they reveal no actual commitment. Learning how to clarify smoke-screen statements is…

The Best Way to Get Rid of a Bomb

Why it’s better to raise (and address) potential problems before a prospective buyer notices them. Have you ever lost a sale because of a problem you could have and probably should have dealt with earlier in the sales process? Have you ever lost a customer because you waited too long to tell them about a delay or defect? If you know a problem is going to blow up in your…
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