When it comes to sales commissions, you must always start with your strategic objectives. Then translate these objectives into your sales strategy and then sales objectives. And only after do you align your sales team’s incentives to the strategy and the objectives. Salespeople tend to be one-track minded. For them, its all about making the…
Read Full Article about SaaS Sales Commissions: Better to Base on MRR or Bookings?Whether you’re an expansion stage technology startup or an enormous corporation that’s been around forever, there’s always a hiring budget. Every hiring manager looking to bring on new blood has constraints to work within and he/she will always want to make sure that a competitive offer can be made if it gets to that stage.…
Read Full Article about Don’t Dodge the Compensation Question!Is your company struggling to retain key staff members? Is this hurting the long-term stability of your organization and making it difficult to execute against and achieve long-term goals? If so, your company may not be properly assessing the costs of employee turnover and may want to reconsider its employee compensation strategy. In today’s labor…
Read Full Article about Is Your Company’s Compensation Strategy In Line with Its Corporate Goals?It’s undeniable: An organization’s most important asset is its people. But why do they come to work? Goodwill? Personal fulfillment? Nothing better to do? Honestly, no matter what we want to think, people come to work to make money! In addition to accounting for more than half of an organization’s expenses, employee motivation is why…
Read Full Article about Compensation Crash Course: Job Analysis, not People Analysis! (Part 2)$100 bucks a week… $5,200 for the year. In the grand scheme of things, we are not talking lot of money when it comes to the spark (i.e. enthusiasm) that this sum can ignite in sales organization, not to mention opportunity pipeline. It’s December and your senior management team is likely wrapping up the final…
Read Full Article about Sales Incentives: $5,200 to Keep your Inside Sales Team (extra) Motivated in 2012On average, between 55-75% of a company’s expenses can be directly attributed to the compensation of its employees. Building a successful compensation plan that supports your employees and your bottom line is important, and yet, far too many organizations don’t take the time to develop one that properly works for them. This is the first…
Read Full Article about Crash Course: Developing a Total Compensation Plan (Part 1)This is the last post in a short series on expansion stage sales compensation. To read the intro to the series, click here, and be sure to check out the previous post on sales executive compensation. A few years ago, when I was working as a principal at Insight Venture Partners in New York City,…
Read Full Article about Sales Compensation: Is Your Team Motivated to Excel or Do Just Enough?This post is part of a short series on expansion stage sales compensation. To read the intro to the series, click here. As the CEO of an expansion stage software company, your plate is perpetually full. Among other things, you’re focused on scaling the business, establishing a clear vision for the future, and (the topic…
Read Full Article about Sales Compensation: Why Executive Compensation is All About LeverageWe’ve all heard Tom Cruise’s famous line from Jerry Maguire before. You know, the one where Cruise’s character, in an effort to keep one of his prized NFL clients, energetically repeats a specific phrase? Having trouble remembering? Maybe this will help. “Show me the money….” Yup, that one. So, why do I bring that up…
Read Full Article about Expansion Stage Sales Compensation: Are You Paying Too Much or Too Little?Motivate your demand generator, email marketers, content marketers and public relationship specialists the right way with proper incentives design In a growing software and internet services company, one of the most contentious areas when it comes to setting goals and metric-based compensation is the Marketing Department. While there are some very easily-defined measures of marketing…
Read Full Article about Marketing Incentives: Setting the Right Goals for Performance and ImpactWe've built our team around the idea that we will provide meaningful value to each portfolio company.
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