Blog

Welcome to “Top Line”

Posted by David Wallace on September 11, 2009

“Top Line” is directed to sales and marketing executives, CEOs, other senior management and entrepreneurs who are interested in managing and improving their sales and marketing functions.  Each week, I will share some of the experience I’ve developed over a nearly thirty-year career in sales and marketing management. Over the coming weeks, I will address […]

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Base Salary – What Should I Expect in Return?

Posted by David Wallace on September 20, 2021

No sales representative earns his or her base salary for just “showing up.”  Your sales compensation plan needs to specify clearly the activities for which reps are paid a base salary.  Here’s some language I’ve used in the past: Base salary is paid for the timely and accurate completion of administrative and other tasks associated […]

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Base Salary + Commission – What’s the Optimal Mix?

Posted by David Wallace on September 14, 2021

The debate is ongoing about what percentage of total compensation should be base vs. commissions.  Ideally, you want to pay enough base salary so that your sales rep doesn’t need to worry about meeting basic obligations such as food, rent/mortgage and car payments. But you want to avoid paying too much.  You don’t want your […]

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Straight Commissions = Low Cost of Sales + Motivated Reps?

Posted by David Wallace on September 7, 2021

Here’s a false argument:  Hiring straight commission sales reps can reduce your cost of sales and motivate reps. I’ve often heard business leaders say, “Let’s hire reps at 100% commission.  If they don’t work out, we’ll replace them and they haven’t cost us a penny.”  Even at 100% commission, bringing new sales reps into a […]

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Sales Compensation Plans – Why Pay a Base Salary?

Posted by David Wallace on September 1, 2021

I see many postings by companies looking to hire sales professionals on straight commission.  Their logic is that if a sales representative is good, the rep will have no problem “eating what they kill.” Sounds too good to be true, huh? Well it is, because you usually “get what you pay for.”  Let’s look closely […]

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Sales Commissions – Can One Plan Fit All Your Reps?

Posted by David Wallace on August 24, 2021

Many commissions plans are easy to understand and easy to administer. Basically, they pay a percentage of revenue or gross profit for every sale. The plans encourage sales reps to sell as much as they can, driving revenue and growth for the company. When paying sales commissions, the company simply multiplies the total sales the […]

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How to Create a Territory Plan

Posted by David Wallace on August 16, 2021

A territory plan is a sales rep’s individual strategic plan. It’s also a roadmap. It tells the sales rep where to go (goals) and how to get there (action plan). A territory plan is an essential operating tool for a sales rep and an essential management tool for a sales leader. Without it, your reps […]

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Do Your Sales Reps Have a Sales Strategy?

Posted by David Wallace on August 10, 2021

Your company’s sales strategy is complete. You’ve identified the market segments and the types of companies you want to reach. You know what offerings you want to sell. You’ve got a clear message. All your sales tools and marketing programs are in place. You’re ready to go. But what about your sales reps? Without them […]

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Use Marketing to Supercharge Your Sales Engine!

Posted by David Wallace on July 27, 2021

I’ve seen it many times. Perhaps you have too. Sales teams can’t find the business they know is out there. They can’t reach their prospects. Or, they reach prospects who never become customers. Or, their message is not compelling enough to get through. Often, the problem isn’t with sales. The problem is poor marketing. In […]

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Great Sales Teams Need Great Tools

Posted by David Wallace on July 21, 2021

Great sales teams have great support! Support means more than just a good product, a phone list and a commission plan. Great support provides your sales team with the tools they need to sell effectively ­– goals, plans, training, systems, processes, and collateral, to name just a few. At Wallace Management Group, we work with […]

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Goals, Strategy, Execution

Posted by David Wallace on July 13, 2021

Many companies succeed by doing what has always worked for them… Until it no longer works. Markets change. You can too. Successful businesses define clear, measurable goals and develop strategies to achieve those goals. They plan and focus their team. Successful businesses target the right markets, the right customers and sell the right products and services […]

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