Accomplish More.
Juggle Less.
Everything you need to transform your work.
Access this week’s activation guide

Building a Sales Commission and Compensation Plan with Lisa Seal

This week’s download is a sales compensation plan template. Please MAKE A COPY of it to build out your own comp plan or simply take a few things from it to enhance what you already have in place.

Access Now

About This Episode

As business owners, we know that our sales team needs to be incentivized. But they also need to feel confident that their entire job isn’t based on simple sales numbers.

 

Today, we’re joined for a second time by Lisa Seal, the VP of Revenue at BELAY. Lisa has a brilliant mind for sales, and she’s had years of experience with this topic. She’s helped BELAY structure a business compensation plan that is beneficial to both BELAY and its sales team. In this episode, she’s going to share with our listeners her best practices for designing a successful comp plan.

1. Don’t cap your salespeople’s potential earnings.

The more they sell, the more they make, and the more you win as an organization. You never want them to have a reason to sandbag and hold back because they too often exceed a quota. Incentivize! Incentivize! Incentivize! If they are outpacing themselves every month, that can only help everyone.

2. Make sure your comp plan encourages a win-win for everyone.

Good salespeople need to feel like they achieved something – and that’s where a bigger paycheck and better commission will help. The business owner should never feel like a salesperson is a burden, and the salesperson should never feel like it’s impossible to reach expectations.

3. Creating loyalty with a salesperson is a huge advantage.

Salespeople can be a fickle group because they are usually extremely competitive. So if they have a tangible target they can achieve fairly regularly, they will become extremely loyal and a partner to you in your business. Keep your salespeople happy and incentivized and you’ll keep your business growing.

One Next Step Podcast on White Smartphone

Recommended For You

117: The Power of Recognition

For leaders dealing with hiring and retention issues, employee recognition is probably not their top priority. But Mike Byam believes it should be. In this episode, he’ll explain why recognition is vital for a healthy work culture, and he’ll break down the specific types of recognition and communication that today’s employees are looking to receive from their employers. Leaders should walk away from this episode with a clear understanding of why recognition matters, as well as actionable steps they can take to build recognition into the routines of their business.

116 BONUS: What We’ve Learned as Married Business Partners

In this Bonus Next Step, BELAY clients Tony & Kristina Ebel share the biggest lesson they’ve learned about relationships from running a business together.

116: How A VA Can Help Scale Two Businesses at Once

Many business owners who hire a virtual assistant expect that it will help them stay organized professionally, but people don’t always realize that working with a VA can also empower you to build a healthier personal life. This is especially true for today’s guests, Tony and Kristina Ebel, because they are spouses who run two successful businesses together. Tony and Kristina are the owners of The Pediatric Experience, which includes both a brick and mortar and an online business. In this episode, Kristina and Tony will talk through some of the biggest challenges they’ve faced while building their businesses, and they’ll explain how hiring a BELAY virtual assistant has helped them grow both individually and collectively.