I don’t get involved with most sales management issues since…well, I don’t know enough about them to be able to advise others. That’s why I frequently pass along resources when they appear to be worthwhile.
Since figuring sales compensation is such a sticky and convoluted exercise, and the perfect solution for all parties involved has yet to be invented, I find owners of companies and managers are always looking for tools and info that can help them. Here’s one. It’s the Sales Compensation Calculator, created by Geoff Vincent of BizCompare.
According to the site:
This sales compensation and commission calculator and plan is designed for small companies who do not have a formal performance management methodology in place for their sales reps. While most sales reps will be assigned a simple quota, this tool allows a sales manager or CEO to put more structure and expectation attached to that quota. Therefore, this is INTENDED to be a simple, straightforward and easy to use method to help a CEO or sales leader to:
- Plan a sales rep’s quota
- Structure expectations of minimum performance and rewards for over achievement.
- Calculate cost of sales at various achievement levels
- Guide a sales rep to plan and/or forecast their own earnings at various achievement levels
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Geoff’s product is very simple to use! I highly recommend it.
If you are looking to create commissions statements- a useful tool can be found at the link below. Users upload your commissions spreadsheet and begin creating statements immediately.
http://www.oneclickcommissions.com/tsb.html
Geoff’s calculator is great! I’ve recommended it to my colleagues. I’ve also recommended this easy to use template:
sales compensation
Jenny S.
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