This episode of the Live Better Sell Better Podcast features Dan Goodman, Founder, and CEO of TruCommish. The conversation about a seller's comp plan should be simple and transparent, with computations upfront, to meaningfully drive certain behaviors.
Otherwise, compensating on variables other than the sale itself will just create unnecessary clutter that makes it more difficult to pay sellers, a key factor in retaining top talent. Dan also stresses the need to give employees access to the data. Not doing so creates distrust and can even expose companies to legal action.
HIGHLIGHT QUOTES
Make comp plans simple and data accessible - Dan: "It's not so much the variables. Obviously, the fewer, the better, and the more simplistic it will be. But as long as you have the reporting and it's easy to understand and access and the calculations are at the forefront or easy to back up, then I'm okay with somewhat complicated comp plans to drive certain behaviors and incent reps in a certain way."
Compensating fairly means leaders have a longer-term view of the company - Dan: "What I would really recommend to leadership is to take more of a longer view. I mean, there's so much pressure on the month-to-month and quarter-to-quarter performance, I think that's what's driving all of this really bad behavior by leadership. They're trying to earn their bonuses, they're trying to keep their investors happy, they're trying to pump up their sales in the perception of what things look like."
You can find out more about Dan and get their app in the links below:
Live Better. Sell Better. is sponsored by our proud partner:
Vidyard | vidyard.com
Chili Piper | chilipiper.com
Rocket Reach | rocketreach.co
Orum | orum.com
Clari | clari.com
From BDR to AE: Coaching Empowers Reps During Their Transition with Saad Khan
Differentiate and Stand Out Without a Doubt with Mandi Graziano
Reaching Your Goals Requires a Plan
Women Must Lean Into Their Authentic Selves with Heidi Solomon-Orlick
Don't Limit Your Goals to Your Quota
Be Intentional and Listen to Win Relationships with Casey Jacox
Beyond Your Thoughts and Actions Is BEING with Townsend Wardlaw
Will We Ever Achieve Mastery of Emotional Intelligence? with Devin Williams
A CONSTRAINT OR FREEDOM? Misconceptions vs Benefits of Having a Routine with Melissa Gaglione
Founder Mistakes: Know the Problem You Are Solving with Carol Malakasis
Becoming a Marketer with a Sales Perspective with Arthur Castillo
How Possible is It? 10M Using Unorthodox Methods with Nadja Komnenic
Champion Selling: Provide Resources to Communicate ROI with Ryan Frampton
Find the Right Circle or Make One Yourself with Scott Ingram
GET AN INTRODUCTION: Build Relationships and Ask for Referrals with Christoph Karger
How Exactly Do We Onboard the Right Way with Meagan Suckling
Unlock the Power of Hospitality in Business: How to Craft an Amazing Customer Experience with Sam Schaut
Rediscovering the Lost Art of Cold Calling with Kevin Hopp
Sales Judo: Master the Art and Science of Closing with Mark Kosoglow
Turn Your Doubt Into a Superpower with Alli Rizacos
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Right About Now with Ryan Alford
The Marketing Secrets Show
The Influence Factor by The Influencer Marketing Factory
The Agile Brand™ with Greg Kihlstrom
Better Advertising with BTR Media