The Business Fixer Blog by Wes Schaeffer, The Sales Whisperer®

How To Incentivize Coin-Operated Salespeople, With Bernie Kassar

Written by Wes Schaeffer | Nov 18, 2024

"Accountability is key. Work hard. Play hard." 

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Summary

In this conversation, Bernie Kassar and I delve into the intricacies of sales compensation plans, emphasizing the importance of simplification and alignment with business objectives.

Bernie shares insights from his extensive experience in the field, discussing the transition from traditional compensation structures to more effective models that motivate sales teams.

The discussion also touches on the role of technology in automating commission calculations and the significance of motivation and inspiration in driving sales performance.

We also discuss the challenges of distractions in the digital age, emphasizing the importance of time management and personal accountability.

We explore how different generations are motivated and the need for effective leadership in sales teams and we also highlight the role of technology in sales, the necessity of training, and the importance of connecting with potential clients.

We wrap up with a light-hearted discussion about personal connections and the influence of media on public perception.

  • Latitude Ʒ9 is an Incentive Compensation Management solution (ICM) for small to midsize businesses that helps growing companies address critical challenges with paying and reporting on commissions and other incentives with a solution that is easy to deploy, use and manage.
  • Finance and sales ops come to him to automate their compensation plans.
  • It's best to simplify before you automate.
  • The golden rule is "no more than three."
  • He pays his salespeople 50/50, base vs. commission, with big bonuses.
  • Comp plans can be personalized, so if you have veterans, you could ease into a comp plan change over years.

 

  • The #1 job of a sales leader is to recruit.
  • 99% of the time, he's replacing Excel.
  • Great speakers inform vs. sell.
  • Motivation and inspiration are key for salespeople.

Accountability is key. Work hard. Play hard.”

  • Ask your people how they think they want to achieve their goals.

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