The Incredible Management System That Doubles Your Business Development Output
Learn how to implement an internal sales system that improves BDM performance and retention
It’s a challenge for small businesses to compete with large companies for great sales talent since larger companies have access to perks like big bonuses and sales coaches.
Using the right management system that produces top performers and increases retention can give small companies a huge leg up in this scenario, however. This management system must address the four most important components to keep business development managers (BDMs) engaged, which are:
- Career development
It is more than possible to reach each of these successfully, no matter the business size.
Over the years, RentScale has built an excellent management system that solves all four components. Let’s check it out. But first, let’s define a top performer.
What is a top performer?
A top performer is a person who outshines expectations and always hits sales goals. They essentially pay for themselves since they are assets for any business.
Underperformers, on the other hand, rarely hit their numbers. It costs a company to keep them.
There’s also a middle category – the tolerated performer. These employees stay on the profitability line. Sometimes they make the company money, and sometimes they don’t.
You need a system to move tolerated performers to top performers to increase ROI. The worst thing you can do is hang on to tolerated performers, never pushing them to strive for more, as they may settle into mediocrity.
The right management system helps you turn tolerated performers into top performers. That’s what RentScale provides. Before we delve into it fully, let’s discuss why top performers are critical to your business’s success.
Why top performers matter to your business
Top performers are critical to your business. However, for sales teams, ROI isn’t always immediate. You make the investment in them, provide training and support, and they build their pipeline over time. You start to break even well into their first year. From there, they build more and more value, and the investment starts to pay off.
Jeremy Pound is the CEO of RentScale and Juicy Results, two firms that help companies systematize and scale their sales. In the last decade, he has helped craft and implement online marketing strategies for countless companies that range in size from the smallest of businesses to Fortune 100 companies.