It may seem obvious, but setting quotas for the National Center for the Middle Market (NCMM) at Ohio State University.team is the best way to grow your company’s revenue. Yet less than 50 percent of companies establish quotas and compensate accordingly, says the
The center found that companies with sales quotas produced revenue gains by more than 10% compared to slower-growing organizations.
While you, the entrepreneurial head of the company, may dread the thought of committing to a sales structure, your salespeople will perform better if expectations are set and clearly communicated. This requires not only sales quotas but also a well-designed compensation program.
Here are some tips on getting sales quotas and sales compensation right. [Read more…]