Business

Here are the six keys to proper compensation design for sales professionals – Morne Smit

• Earn from dollar one

• Comp must be simple enough to calculate on a napkin

• Reward the right behaviors, not just the easy wins

• Never cap commissions or you’ll create sandbaggers

• Match comp design to business stage + culture

• Find out what “moves” your people & reward accordingly

You don’t have to be perfect to win. You just have to be better than the next guy. – Dad

A good plan violently executed now is better than a perfect plan executed next week. — Gen. George S. Patton

I could end the deficit in five minutes. You just pass a law that says that any time there’s a deficit of more than three percent of GDP, all sitting members of Congress are ineligible for re-election. – Warren Buffett

Mistakes are the price of admission of learning or as Thomas Edison once said “I have not failed. I’ve just found 10,000 ways that won’t work.”  – Dad

The 80-20 rule, also known as the Pareto Principle, defines how causes and outcomes correlate. It states that 20% of causes drive 80% of outcomes.

Interestingly enough, 80% of all profits likely come from just 20% of your customers. The lesson here is don’t try to be all things to everyone. It will dilute the effectiveness of serving your most important clients. – Dad