Here’s a very interesting statistic for you to ponder: 40% of sales reps are going to fall short of their sales quota this year. Think about that: that means that there is a serious issue with a lot of sales teams. I recently read an interesting article that included that statistic, as well as some other interesting numbers.
I’d like to share some of my personal insight from my years of experience founding and operating startups. Here are my thoughts on creating your 2016 sales plan:
- Variable pay for salespeople is best. If you want your salespeople to perform well, and exceed the quota set for them, you need to give them major incentives to do so. Too many companies propose and provide salary-only packages that do little to incentivize.
- I agree greatly with the article on the idea that the sales plan should be modeled after objective-based initiatives. For example, if you are selling digital marketing products/services, it makes sense to include which specific products/services you want to include in your sales goals.
- Additionally, I also agree that your sales team should be determined through affordability of the salespeople. Don’t hire too fast, as that’s a mistake too many employers make. Go slow, hire right, and the results will be well worth it for your business.
- Another insight I’d add is to manage the interview process in a smart way: ask the right questions. Too many business owners fail to ask prospective salespeople the tough, pointed questions that shed a lot of light on their character, goals, motivation, etc. Ask and you will know a lot before you hire. This is possibly the most important.
You can read the full article here.