MBO + KSI + KSO = How to Turn IH8U into IHEARTU? Management by Objectives (MBOs), Key Sales Initiatives (KSIs), Key Sales Objectives (KSOs) – No matter what acronyms they are assigned, objectives based incentive pay programs or components within…
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The end of the calendar or fiscal year usually includes some familiar activities – finalizing contracts for future shipments and revenue streams, finishing performance and salary reviews, getting budgets in by the deadline, and putting out the latest fire (while…
Modeling – Once the foundational components and structure are decided, the next step is to conduct some financial modeling to confirm economic feasibility of the plan. Entire chapters and articles have been devoted to this subject. Bottom line, modeling is…
The “Sausage Making” stage requires creativity coupled with discipline. The Design Team needs to discuss and evaluate different options against various criteria, yet not get led off track by particularly vocal members or endless discussion meetings. Key tips to consider…
Last time we talked about securing exec sponsorship, creating the right design team, and inclusiveness. On to communication and educating the team members! • Communication – A whole separate article could be written about the communication aspect of sales incentive…
To see my preview to this blog series please visit: http://bettersalescomp.com/sales-compensation/practical-sales-compensation-upcoming-series/ So, now… Getting Started: The initial flurry of activity should be about building a foundation for a successful effort. Some of the key elements to focus on include: Securing…
Anyone who has been through a significant sales compensation design project can attest to how much effort it takes to do it well. It’s not just about following leading practices in design, like having three performance measures or less, or…