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Iconixx Insights BlogSales Performance Management

Be a great sales manager to inspire top performance in staff

By October 9, 2014June 11th, 2024No Comments

Great sales teams all have one thing in common: an excellent leader. Finding, training and supporting sales managers is a big task, but it is a must for any company that wants its sales department to excel. Similarly, professional development for sales managers needs to be one of their own top priorities, even given the time demands of their jobs. According to Forbes, it’s not uncommon for a high-performing salesperson to get picked for a management role without any real idea of how to manage. While promoting from within can be valuable and everyone starts somewhere, sales managers need to make a serious effort to catch up on management best practices as soon as they are promoted from the sales team itself. Here are some tips to start with:

Lead and reward with individuals in mind
Forbes says many sales managers have metrics and deadlines in mind and may forget about the human element of sales performance. While data and deadlines are vital in the sales world, they won’t pull a team to the top alone. Instead, managers need to get to know their workers to determine what kind of incentive compensation will really motivate them. Indeed, many may be more inspired by public recognition or seeing their manager roll up his or her sleeves to help the team than by a bonus. Managers who know this about their teams can bring them to new heights of motivation and engagement.

Have clear expectations
In management, the clearer expectations are, the better. This is true especially in sales management, where numbers play such a huge role. Sales staff needs to know exactly what is expected – and when – to perform well. One way to focus on just the right information is to compile key performance indicators. This gives managers an opportunity to compare their teams’ performance to their goals, and from there to brainstorm ways to bridge the gap.

Check in regularly
Leaving performance issues to fester is not best practice at any workplace. Sales managers need to have regular meetings or check-ins set up with their team at a minimum in order to address and raise any relevant concerns. Being proactive when it makes sense is also important, whether that means talking to a salesperson as soon as a problem comes up or even heading an issue off at the pass.

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Ballast Point Ventures

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.

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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.

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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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S3 Ventures

S3 Ventures is an early expansion and growth stage venture firm with $200 million under management. It’s focused on information technology solutions that solve large business problems. S3 also invests in medical devices that improve the human condition. S3 invests in category-defining opportunities. It partners with the team and help focus methodically on what it takes to build a successful company. S3 today helps talented entrepreneurs take their technology and market knowledge and form valuable businesses in a repeatable fashion. Investment sizes start at several million or more for Series A, B, and C financing.