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How To Compensate & Scale Your Startup Sales Team | Dan Martell

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Maybe you’re worried you’re not building your sales team the right way? In this video, I share the 5 steps to hiring efficiently and building a fair compensation structure while scaling your sales team. WATCH: 3 Forces of a Sales Pipeline https://vimeo.com/237859087/fbbb78d3b5 Are you an entrepreneur? Get free weekly video training, invites to exclusive events and community contests: http://www.danmartell.com/newsletter + Instagram (behind the scenes): http://instagram.com/danmartell + Facebook (live trainings + Q&A): http://FB.com/DanMartell + Twitter (what I'm reading): http://twitter.com/danmartell Have you ever been talked into do something you knew was dumb? *raises hand* Back when I was scaling my company Spheric Technologies, a friend introduced me to his buddy who did outsourced sales. Essentially, a quick fix “easy button” for business owners who can’t be bothered to take full control of the lifeblood of their business. Smart right? ;) His big promise was that he could get me scheduled meetings with qualified buyers for our services... ... so I gave him a try. The cost was about $5K/month + a $5K setup, so I gave it a try to see if it would move the needle. My average deal size was $60K, so I figured just one new customer every month would be a huge win. No brainer, right? But it all fell apart. Fast. The meetings were horrible. The prospects unqualified. And the whole thing turned out to be a huge waste of time, energy, and money. That’s when I decided to smarten up, take full control of the selling process, and build my own sales team in house. I went “all in” and immersed myself in everything I could about building and scaling a sales team. That’s what I want to share with you in this week’s video. If you want the bulleted list of activities that’s required for scaling a software sales team, here’s my prescription... 1. Pay a base salary 2. Set a quota 3. Provide a commission 4. Use accelerators 5. Hire a sales manager Now, the truth is, in the early days you’ll likely be doing all the selling, but the best way to backfill this work is to document everything you do to achieve results. This includes creating a demo script using my Rocket Demo Builder framework, your system for qualifying, and the follow up process. It’s how my coaching clients and the founders I advise have scaled their sales teams to over 150+ sales people. If you have any questions about scaling your sales team, leave a comment below and I’ll be sure to reply. Dan “backfill to scale” Martell Don't forget to share this entrepreneurial advice with your friends, so they can learn too: https://youtu.be/jaLt-HyELTs ===================== ABOUT DAN MARTELL ===================== “You can only keep what you give away.” That’s the mantra that’s shaped Dan Martell from a struggling 20-something business owner in the Canadian Maritimes (which is waaay out east) to a successful startup founder who’s raised more than $3 million in venture funding and exited not one... not two... but three tech businesses: Clarity.fm, Spheric and Flowtown. You can only keep what you give away. That philosophy has led Dan to invest in 33+ early stage startups such as Udemy, Intercom, Unbounce and Foodspotting. It’s also helped him shape the future of Hootsuite as an advisor to the social media tour de force. An activator, a tech geek, an adrenaline junkie and, yes, a romantic (ask his wife Renee), Dan has recently turned his attention to teaching startups a fundamental, little-discussed lesson that directly impacts their growth: how to scale. You’ll find not only incredible insights in every moment of every talk Dan gives - but also highly actionable takeaways that will propel your business forward. Because Dan gives freely of all that he knows. After all, you can only keep what you give away. Get free training videos, invites to private events, and cutting edge business strategies: http://www.danmartell.com/newsletter
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Text Comments (20)
Street Cred (5 months ago)
This is the Dope Sauce!
Dan Martell (5 months ago)
Thx Street Cred! :) DM
rambull Jr (8 months ago)
Dan! Thanks for your videos huge help. Do you have any videos on how to hire your first sales guy?
Dan Martell (7 months ago)
rambull Jr search my name + sales / I think so ;) Honestly, got so many now I forget. DM
Juan Felipe Campos (9 months ago)
Gold!! Thanks for sharing this content, Dan.
Dan Martell (9 months ago)
Juan, my pleasure / thanks. DM
ProfitWell (9 months ago)
We know first hand how important it is to figure out pricing. Let us know if we can help you with that or if you'd like to collaborate.
ProfitWell (9 months ago)
Yes sir, let us know what works for you :)
Dan Martell (9 months ago)
We should definitely collaborate... is this Patrick? DM
Watch that video on Vimeo in the past, glad you linked again because I learn more each time I watch it. Thank you!
Dan Martell (9 months ago)
Brad, appreciate the comment / glad it brought you some value. On that end, the vimeo video was 1/20th of what we covered during my 2 day SaaS Academy Intensive. It's the best training/coaching for SaaS Founders. Just saying :) DM
Joshua Chin (9 months ago)
Nice video! Just in time as I'm considering outsourcing my sales role as I scale the business
Dan Martell (9 months ago)
Joshua, awesome! Scaling sales is a pivotal process to free yourself from the business. Excited to hear how it goes. DM
Daniel Vianna (9 months ago)
Hi Dan! great video. Do you think that this same applies to other types of employees such as designers and engineers when you are scaling a small SaaS ? like year bonus / stock options for high performers or just a bonus split equally between team members?
Dan Martell (9 months ago)
Daniel, nope. Sales people are a different breed. They also could be more transactional and have higher turn over. For key employees, you'll want to ensure you're following these 2 things (vision + equity). https://www.youtube.com/watch?v=QzD_axrAb9E https://www.youtube.com/watch?v=hWA1b8owinc&t=2s DM
Keith Yackey (9 months ago)
This guy is amazing!  Every time he opens his mouth I listen and learn so much!  Great video Dan!
Dan Martell (9 months ago)
Keith Yackey love you Keith. More than appreciated. DM
Dre Man (9 months ago)
Hey Guys. I just want to thank you guys alot. I'm a young entrepreneur from Dublin and I just got accepted into an incubator. I regularly watch and rewatch videos on this channel and on valuetainment. A massive thank you from myself and my co founder. You Rock Dan.
Dan Martell (9 months ago)
Dre Man, thanks! It means a lot. PBD puts out SOLID real-world advice from actually doing it. Big fan of that. Sounds like you've got a great sense of the real deal :) Crush the incubator! Also, be sure to do these 5 regardless if you're in one / next level - do both https://www.youtube.com/watch?v=b8fTFoAWyiE DM
Dan Martell (9 months ago)
If you’re sick of selling and want to hire someone to lead this, then watch this video for specifics on compensating & scaling your sales team.

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