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February 25, 2017
The Most Critical Mistake a Sales VP Can Make
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Imagine if you were known for being the idiot who fired a legendary rainmaker. Mark Cuban was fired as a sales rep from a computer store. He failed to open the store on time because he was upselling a customer. “He is lazy,” said his former manager.
How are you measuring your sales managers? Is it by quota attainment only? If so, you are making the biggest mistake a Sales VP can make. The list of rainmaker firings continues:
These were poor and short sighted decisions. When evaluating your sales managers in your talent management program, you need to consider a minimum of 5 additional metrics other than quota. This will allow an objective view of their overall performance. It will also allow a gauge of not past but future performance. Below are some common ones to measure.
If you would like help with this topic, visit The Studio, SBI’s multimillion dollar, one-of-a-kind, state-of-the-art executive briefing center. A visit to The Studio increases the probability of making your number because the sessions are built on the proven strength and stability of SBI, the industry leader in B2B sales and marketing.
Common Non-Quota Metrics:
The key is to take these non-quota metrics and compare them to quota attainment. How? By evaluating your Sales Managers quantitatively and a qualitatively through a weighted formula based on your customers and company’s objectives. Evaluate them both on quota performance and non-quota metrics:
By measuring the Non Quota Metrics vs. the Quota Attainment, you can come to a simple conclusion on whether to invest in the Sales Manager or put them officially on the bubble.
Call to Action:
Involve more than quota attainment when assessing Sales Managers. Use the below bullets to rearrange the way you think about SM performance and potential termination. Remember, your best SM might be the one who doesn’t consistently make their quota.
Don’t make the mistake of firing someone who has tons of potential but missed their quota. Consistent quarterly performance depends on how you manage talent. As a guide your efforts to secure and retain the right talent for a transformation, download our 10th annual workbook, How to Make Your Number in 2017. Turn to the People Plan phase on pages 285 – 293 of the PDF.
If you would like my help, set-up a workshop at The Studio. A visit to The Studio increases the probability of making your number because the sessions are built on the proven strength and stability of SBI, the industry leader in B2B sales and marketing.
Photo Source: Gage / Wikimedia Commons
SAN FRANCISCO, CA – SEPTEMBER 08: Businessman and TV personality Mark Cuban speaks onstage at TechCrunch Disrupt at Pier 48 on September 8, 2014 in San Francisco, California.
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