The paradox in corporate management.
I recently discussed with a few top managers in leading IT players about talents and business growth that they can bring.
So what do they want?
They want to attract top talents to their companies to build innovative business models and enter new industries to ensure at least double-digit growth.
How do they want to get it done?
Easily and securely. Not to cause problems to the current CxO management layer, to fit one's talent into a tiny corporate square and not to cause damage to existing procedures and methods.
Is it real?
No. It is not real for sure. You cannot grow & innovate and at the same time, protect current inefficiencies. You cannot protect the mistakes that are hidden in the methods of current operations.
In order to grow -- you need to change.
So stop wasting talent for the objectives that you genuinely do not want to achieve.
Or rethink the way your today’s organization work.
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Let’s discuss how the Sales department should work.
Should Salespeople be incentivized for high performance? For hitting targets? Or only for outperforming them? Should they be paid a small or large fixed salary?
What are your opinions and experiences?
I tend to think that the optimal model is to construct a three-tier salesman compensation strategy:
1) Pay an adequate salary, so the person doesn't need to bother for money so much
2) Pay team bonuses for overall team performance for reaching and exceeding the targets just split the reward equally between team members, so it is perceived as a team effort
3) Finally, add the cherry on the top for individual efforts and extra miles that a particular person is doing.
Sharing is caring ;)
It is becoming more and more evident that business professionals need to collaborate better with IT colleagues and vice versa. There is simply no other way to drive successful digital transformations.
So mutual understanding of each other’s work is crucial here. While these days we have quite many online trainings and webinars on technology skills, business understanding for IT professionals is less covered, in my opinion.
When I get asked by technology gurus who want to better understand business, I always recommend this book - “Value Drivers” by Mark C. Scott. Even though it doesn’t read like an easy ‘novel’, it provides a great holistic view how to look at business from end2end perspective.
Any other book recommendations from others?
As with any skill, the skill of building a business relies on talent, experience, knowledge/data, and good systems in place to push you to implement.
Over the next few weeks I’ll go over some past and present businesses I have made/ helped make, use them as case studies, and outline what steps we took to
1) identify the aspect of the business that people would pay for
2) worked out a way to maximise that aspect
3) continually innovated to make the business provide a greater income for lower costs
The coinciding lessons of each case study, I predict, will be
1 taking action consistently is the key step that separates a failure from success
2 providing more VALUE to the customer is the foolproof way to increase income, not to fool them into spending more than they should
3 identifying the best method to get a customer’s attention and once you have that attention, to effectively show them the potential benefit to them of using the business is the way all marketing works
Also I’ll be putting in a photo of myself with each post since that seems to be what people do on Qoorio, it isn’t relevant to the post its just a picture of my face