Tag: ryan snow

Is Your Compensation Plan Driving Sales Results?

When building a winning sales team and strategy there are a few principles that are sometimes overlooked. Let’s take a look at five questions that when answered properly should help youth build a compensation plan that inspires your sales team to thrive and keeps your company on track for revenue and profit goals.

1.) What will it take for my salespeople to survive on their income based on our cost-of-living?

While it is true that salespeople should be paid for their performance and that the top salespeople will earn the highest income, you do not want your salespeople worrying about how they will pay their basic expenditures. Maslow’s Hierarchy of Needs makes it pretty clear the physiological and safety needs are requirements for people to perform at a basic level. Fearing how you will pay rent or buy food is not likely motivating your salespeople to sell more. It is likely hurting them and causing them to question their abilities, lowering their confidence, and may be impeding their ability to close.

A base salary should allow someone to at least survive their basic expenses during a difficult month or quarter. If performance issues last longer than a quarter and are not team wide, then we should be working on coaching to a standard or coaching to a new opportunity.

While I suggest a base salary that allows for survival, be careful that the base is not so large that it impedes the company from offering a strong compensation plan for outstanding results while maintaining a comfortable profit margin.

2.) What is most important to my people? What drives the people on my sales team?

This has nothing to do with your compensation plan, but it is the most important question in determining how the compensation plan is promoted to your sales team on an individual basis.

Most people are not driven only by money. People are driven by security, travel, ability to provide for their family, and freedom. These are often afforded through income. The income alone though is not usually the driving factor.

It’s important to spend the time to get to know the driving factor for your sales team. When you are promoting the compensation plan structure and how it will impact their lives, they will be more likely to hit higher goals that will keep your company on track for your revenue and profit goals. Keep your team in mind and ask from their perspective, “What’s in it for me?”.

If I sell $4 Million in product a year, and I earn $X. Pushing me to sell $5 Million to earn $Y will require an understanding of what I would have to give up in order to hit that higher number – training, travel, hours worked, more calls and rejection and comparing that to what I will gain in return – income, freedom, recognition, promotion, significance, etc. If I, as a member of the team, believe the trade-off is worthwhile I will hit the higher goal. If I don’t, why would I put in the extra effort.

When building your compensation plan, consider whether or not you know enough about the people on your sales team to understand what drives them. Then coach them consistently on how to take advantage of the compensation plan to help them achieve their dreams. You will have happy salespeople which will consequently increase your results.

One of my favorite books on this topic is The Dream Manager by Matthew Kelly. If you are looking for a new level of connecting with your team by helping them achieve what is important to them then you should grab a copy of this book right now.

Affirmations that Work – 4 Tips to Creating Effective Affirmations

Affirmations that Work!

Do you remember being told that if you want something, really really want something you must affirm and reaffirm those very same things loudly and clearly again and again? That you must say all those things that you want to be true as if they were already true?

And that’s exactly what you did! You sat there or stood there (maybe in front of a mirror) and  enunciated all those hopeful thoughts loudly and clearly, again and again (and hoped that nobody was able to hear you and if they did they did not think you were being silly!)

Even though that was precisely what you thought about yourself! And sometimes you asked if you were just lying to yourself…

It seemed like your words (even when stated loudly, clearly and repeatedly) still did not convince your mind or yourself. It became a process which you eventually agreed only made you feel conflicted, uncomfortable and unwilling to believe! And often plain silly!

So you stopped doing it!

You stopped believing in and practicing your affirmations!

Because you were not aware that it was possible to believe in your affirmations and to make them work!

And the Miracle Morning does just that – makes you aware of a process that will help you believe (again) in your affirmations and make them work!

There are 4 simple steps to this process:

  1. Affirm (again) – what do you really really want and why it is that so important to you. You begin by establishing and affirming what it is that is important to you and why it is important to you.
  2. Commit – what do you promise you are going to do to make sure what you really really want actually happens! What are the activities that you commit to do to make sure  your affirmations come true?
  3. Say it with feeling – you should be able to see what you want, smell it, hear it, almost taste it (and know that you are going to touch it – definitely touch it)
  4. Check in – with what you really really want as often as possible. Review them again and again.

An example of  an affirmation would be where you tell yourself that during this year you plan to double your sales volume in order to be able to afford 3 extremely exciting vacations with your family. And in order to double your sales volume you are going to ensure that you talk to 20 new people every new single day about your product.

I am doubling my sales volume in order to take my family on three vacations this year by talking with 20 prospects every day!

You are stating what you really want (the increased sales volume), why you want it (for that vacation) and what it is you are going to do to make certain that it happens (those 20  people you plan to talk to).

Then imagine, not talking to those 20 people you promised to contact. That should make you uncomfortable. Hopefully so uncomfortable that you actually make the calls.

And while that volume may not have doubled yet, it will be because of your commitment to talking to those 20 new people each day. Otherwise you would be living out of alignment, and that should make you more uncomfortable than not making the calls!

This is a reprogramming of the subconscious mind. You are creating new patterns and telling a new story about yourself. The difference now is that you can actually buy-in to your own words because it isn’t just wishful thinking. You are creating behavior change that will bring the results.

Integrity and without exception – that’s making sure you always do the things you say you are going to do.

If you enjoyed this article and would like more information on this topic, order your copy of The Miracle Morning for Salespeople now on Amazon!