054 – Attract and Retain Top Talent, How to Implement Win-Win Golden Handcuff and Succession Strategies – Kevin Monaghan
Are you wary of training a great salesperson to possibly be used by a competitor?
Are you trying to make sure your employee is happy just where they are?
Kevin has lots of advice on how to handle relationships in business between your business and a key employee and your business and another business.
Enjoy this episode of The Business of Family and Selling!
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Handling Salespeople And Partnerships
Interview Highlights:
[10:25] Should You Spend The Extra Money To Train Your Sales People? [17:45] Phantom Stock: The Downside Of Giving Away Too Much Equity [25:45] How To Plan Out The Path Of A Great Salesperson In Your Business [32:15] Dealing With Partnerships; Different Strategies And Conversations [38:25] How To Position People To Give Them Clarity So The Business Owner Can Continue To Run The Business But Has The Option Of Leaving [39:45] How To Incentivize To Grow The Business In A Healthy Fashion [50:50] How To Run Your Business Like You’re Going To Sell It
More About Kevin Monaghan:
Kevin is the owner of Intuitive Compensation Group. Intuitive Compensation works with business owners who have an all star employee that is key to running the organization, improves the bottom line and would be extremely important to a buyer if the business owners were to sell. Those owners are often afraid they may lose this employee to another job, a competitor or worse, this employee might start their own company and start competing against them. These business owners would like a solution that retains, incentivizes and rewards these key employees, helping to keep them happy and right where they are.
What makes Kevin unique is that he’s been the key employee as an area manager. He co-built a consulting firm in Shanghai that started from the bottom and grew to the top of the industry. This led Kevin to receive multiple offers from competitors and the opportunity to start his own firm. Instead, Kevin learned the hard way through a failed profit sharing and equity program. On top of that, when the firm sold, Kevin watched the valuation dropped from 60 percent for the owners because there was nothing in place to retain himself and other managers.
Learn More at intuitivecompensation.com
This Free PDF Checklist Will Teach You…
- How to know if your business is ready to hire SDRs.
- How to find the very best sales talent to set your appointments.
- How to quickly disqualify bad SDR hires before they waste your time.
- How to on-board and ramp new SDRs faster than your competition.
- How to maximize your ROI on every SDR hired.
