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The Journal of Private Equity

The Journal of Private Equity

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Article

Portfolio Company Best Practices—Give Salespeople Free Range, but Establish an Outer Perimeter

Harry Gray, Chad Greenway and Robert Feeney
The Journal of Private Equity Fall 2015, 18 (4) 19-25; DOI: https://doi.org/10.3905/jpe.2015.18.4.019
Harry Gray
is a managing partner at Verto Partners in Dallas, TX. harry@vertopartners.com
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Chad Greenway
is CFO of a Boston Ventures portfolio company in Houston, TX. chadgreenway@gmail.com
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Robert Feeney
is head of North America public policy affairs at Sanofi in Bridgewater, NJ. robert.feeney@sanofi.com
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Abstract

The business world teems with myriad opinions regarding the best way to manage salespeople; yet, investors and managers essentially agree that individual agendas are impossible to eliminate in the world of sales management. Often salespeople conduct their business segregated from the core management team, which may result in a focus on accomplishing individual goals rather than on making the company successful. These situations may drive near-term gains but almost always lead to longer-term profit margin erosion. One of the primary culprits for such misalignment is the sales commissions program, which is likely to undermine any sense of unity and common purpose in a business.

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The Journal of Private Equity: 18 (4)
The Journal of Private Equity
Vol. 18, Issue 4
Fall 2015
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Portfolio Company Best Practices—Give Salespeople Free Range, but Establish an Outer Perimeter
Harry Gray, Chad Greenway, Robert Feeney
The Journal of Private Equity Aug 2015, 18 (4) 19-25; DOI: 10.3905/jpe.2015.18.4.019

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Portfolio Company Best Practices—Give Salespeople Free Range, but Establish an Outer Perimeter
Harry Gray, Chad Greenway, Robert Feeney
The Journal of Private Equity Aug 2015, 18 (4) 19-25; DOI: 10.3905/jpe.2015.18.4.019
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  • Article
    • Abstract
    • First, If a Fresh Start Is Practical, Engineer a Mechanism with Rules of Engagement That Drive Behavior
    • Step Back, Widen the Lens, and Evaluate the Full Sales Incentive Plan
    • Offer a Rich Menu of Tasty Carrots… but Be Willing to Use a Stick
    • Eliminate Sales De-Motivators… but Embrace Dashboards
    • Implement a Robust Lead Capture and Dissemination Program
    • Salespeople—Not Production—Should “Own” the Inventory!
    • To Depersonalize the Sale, Evaluate Down-Streaming Customer Relationships and Phased Commissions Bleed Out
    • Leverage the Power of Perception by Paying All Employees the Same Way… but Not the Same Amount
    • Limit Field Activities with Ironclad Pricing Grids… and Monitor Backlog That Is Meaningful
    • Properly Onboard Sales People
    • Consider MBOs to Drive Enterprise-Wide Success Incentives
    • Revenues Do Not Pay the Bills, so Disburse Commissions as Cash Is Collected
    • Be Wary of the Double-Edged Quota Sword
    • Test, Document, and Automate the Program
    • Only after Performance Is Proven, Explore the Pros and Cons of a “Commission Buyout” Program
    • Finally, if Growth Acceleration Depends on Unusual Efforts, Align Incentives with Demand Innovation
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