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3 management strategies that will increase sales

By February 7, 2017January 16th, 2023No Comments

A sales manager’s day-to-day life tends to focus on numbers, numbers and more numbers. It is easy to get bogged down in endless amounts of data and to fall into a pattern of constantly reminding your employees to reach, or even exceed, their quotas. Research shows, however, that focusing so heavily on the actual numbers is a disservice to employees and will not actually incentivize them to do a better job. Instead, managers should focus on a few key leadership strategies guaranteed to motivate employees and subsequently boost sales.

1. Say thank you
According to the Harvard Business Review, research shows that employees are far more motivated when they receive gratitude and appreciation for good work. Managers who regularly offer praise to those who deserve it will be more than likely to see employees work longer and harder to achieve their team’s goals. Salesforce wrote that it’s important to celebrate team successes because it not only relieves pressure but also provides employees with a little extra confidence.

2. Offer one-on-one support
It seems there is a large consensus among management experts to provide clear, consistent communication to each individual employee. It is important, explained Yesware, to act as a coach for your employees. A good coach focuses on developing talent and not only on reaching a specific quota. One-on-one training and mentorship can greatly improve performance.

In addition, sales training expert Keith Rosen wrote in Top Sales World that managers must take the time to find the root cause of an issue rather than just point it out. Data may display a problem, but it can’t show why that problem exists. Taking the time to speak with employees to receive feedback will help solve problems of both employee performance and dissatisfaction.

3. Be clear about team goals 
Yesware emphasized the importance of making sure every single member of your team understands exactly what she is expected to achieve every day. The first step is to make sure employees understand the collective vision of what success means for that team. From there, consistent meetings and open communication should ensure each employee knows how she will contribute to making that vision a reality.

Iconixx compensation management software provides simple, efficient tools to not only tracksales performance metrics, but also to help employees track their own progress. Compensation management software is an easy way to incorporate incentive compensation management into your managerial strategy and motivate sales teams to improve.

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Ballast Point Ventures is a later-stage venture capital fund established to provide expansion capital for rapidly growing, privately owned companies in diverse industries, with a particular emphasis on companies located in Florida, the Southeast, and Texas. The BPV partners have more than 70 years of combined experience investing in and building high-growth companies in a number of industries, including healthcare, business services, communications, technology, financial services, and consumer goods. BPV has $200 million under management and seeks to make equity investments ranging from $3 million to $10 million.

Harbert Management Corporation

Harbert Management Corporation seeks to generate superior returns for their investors by identifying and investing in the most promising early growth stage companies in the Southeastern U.S. HMC seeks to capitalize on what it believes are compelling regional dynamics, such as a strong and fast-growing economy, significant research and development activities, and an established entrepreneurial community. The HMC team combines substantial investment, advisory, and operating experience with capital and networking contacts to support great entrepreneurial teams in successfully executing their growth plans. With offices in Birmingham, Alabama; Richmond, Virginia; and Gainesville, Florida, it’s well positioned to partner with entrepreneurs throughout the Southeast.

KBH Ventures

KBH Ventures was an early investor in Iconixx Software. KBH's investment philosophy plays a significant role in the firm's successful track record. KBH believes in running businesses to be cashflow positive and profitable every month. Startups and companies in a startup mode, such as one that has been purchased in distress, are expected to generate revenue within the first six months and reach profitability within the first 12 to 18 months. KBH also only invests in or acquires companies that are in the startup phase or have less than $20 million in revenues. KBH targets technology companies that offer business-to-business services.

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