Key insights

• ⚙️ Implemented sales team from zero to 40 sales guys
• 🛠️ Challenges with outsourced sales team (revenue share, performance, business value)
• 🔄 Shifted to in-house sales team
• 📈 Improved sales funnel conversion rates
• 💰 Achieved $21.6 million increase in profit
• 👥 Hiring a director is the first step in transitioning to an in-house sales team
• 💵 Establishing proper compensation structures, including both monetary and non-monetary incentives, is essential for motivating the sales team
• 📊 Optimized sales process led to increased sales and reduced costs

Q&A

• What were the outcomes of implementing a new sales process?

  Implementing a new sales process led to a significant increase in sales while reducing costs. There was also a shift from outsourced to in-house sales team, resulting in substantial profit increase.

• What strategies were implemented to improve sales performance?

  The strategies to improve sales included increasing show rates, daily training, video sales letters, and front-loading scripts with obstacles to overcome common objections.

• How was the sales compensation structure based on performance adjusted?

  The compensation structure for sales shifted based on performance, incentivizing high achievers. This adjustment led to improvements, including a 77% increase in set call scheduling after refining the qualification process.

• What is essential in establishing proper compensation structures for the sales team?

  Establishing proper compensation structures, including both monetary and non-monetary incentives, is essential for motivating the sales team. Recognizing and rewarding achievements through non-monetary incentives significantly impacts performance and morale.

• Why is hiring the right sales director crucial?

  Hiring the right sales director is crucial for the organization's success and growth. The ideal director should have relevant industry experience, be metrics-driven, and have a suitable demeanor.

• What were the steps involved in hiring an in-house sales team?

  Hiring an in-house sales team involved five steps, starting with hiring a director who meets specific criteria. Finding the right person involved outreach, running ads, and using a recruiter.

• What were the key challenges faced with the outsourced sales team?

  Challenges with the outsourced sales team included issues related to revenue share, performance, and long-term business value.

• 00:00 Implemented a sales team from zero to 40 sales guys, faced challenges with outsourced sales team including revenue share, performance, and long-term business value, moved to in-house team, achieved $21.6 million increase in profit through improved sales funnel conversion rates.
• 05:41 Hiring an in-house sales team involved five steps, starting with hiring a director who meets specific criteria. The director needs to have relevant experience, be metrics-driven, and have a suitable demeanor. Finding the right person involves outreach, running ads, and using a recruiter.
• 10:54 Hiring the right sales director is crucial; proper compensation structure is essential for motivation and performance; recognizing and rewarding non-monetary incentives matters; setting up compensation to motivate setters and closers.
• 16:05 The compensation structure for sales shifted based on performance, incentivizing high achievers. Sales process was rebuilt and show up rate improved by 21%. Set call scheduling saw 77% increase after aligning incentives and refining the qualification process.
• 21:42 The video discusses strategies to improve sales, including increasing show rates, implementing daily training, using video sales letters, and front-loading script with obstacles.
• 27:02 Implemented a new sales process that led to significant increase in sales while reducing costs. Scaled the sales team and shifted from outsourced to in-house team, resulting in substantial profit increase.