Inside BS Show

Having a reward system for employees is a crucial part of any business because it motivates people to go above and beyond the agreed upon quotas. In this show, I go over different types of contests so that you can choose the staff incentives that work best for you.
https://youtu.be/fTscvq4KzjY
Salespeople are driven by competitive forces. Your people need contests to keep them fired up.
Here are three kinds of contests that have proven to be effective:
The first is the annual growth contest. In this contest, people win the opportunity to go on a trip at the end of the year. You can award the top performers, or those who sell a certain amount. This can also be a reward system for employees who show measurable growth.
As for prizes, monetary staff incentives are great, but keep in mind that your sales people are really in it for the recognition. When choosing the prize, just make it enough to be meaningful.
Then there’s the slack time contest. If you have a slow period, then you should run a contest during that time. You can help incentivize certain products by doubling or tripling the commission on those items.
There’s also the king of the hill contest. If you want to really motivate your sales staff, publish their results on a regular basis and give out a king of the hill prize each month. This type of contest could include staff incentives such as parking spots, opportunities to work from home, or the ability to earn more commission for that month.
These three contest ideas are each an effective reward system for employees because they heighten the sense of competition and offer the chance to make more money. Use them and watch your sales grow.
Be sure and listen to the show and download it using the player below:
Learn more about your ad choices. Visit megaphone.fm/adchoices

Show Notes

Having a reward system for employees is a crucial part of any business because it motivates people to go above and beyond the agreed upon quotas. In this show, I go over different types of contests so that you can choose the staff incentives that work best for you.
https://youtu.be/fTscvq4KzjY
Salespeople are driven by competitive forces. Your people need contests to keep them fired up.
Here are three kinds of contests that have proven to be effective:
The first is the annual growth contest. In this contest, people win the opportunity to go on a trip at the end of the year. You can award the top performers, or those who sell a certain amount. This can also be a reward system for employees who show measurable growth.
As for prizes, monetary staff incentives are great, but keep in mind that your sales people are really in it for the recognition. When choosing the prize, just make it enough to be meaningful.
Then there’s the slack time contest. If you have a slow period, then you should run a contest during that time. You can help incentivize certain products by doubling or tripling the commission on those items.
There’s also the king of the hill contest. If you want to really motivate your sales staff, publish their results on a regular basis and give out a king of the hill prize each month. This type of contest could include staff incentives such as parking spots, opportunities to work from home, or the ability to earn more commission for that month.
These three contest ideas are each an effective reward system for employees because they heighten the sense of competition and offer the chance to make more money. Use them and watch your sales grow.
Be sure and listen to the show and download it using the player below:

Learn more about your ad choices. Visit megaphone.fm/adchoices

What is Inside BS Show?

Would you like to work with better clients, make more money, and build a business that gives you true freedom?

Have you struggled with the loneliness that comes with working long hours and solving the dozens of complex problems you face as an entrepreneur?

Do you ever feel like the most valuable business secrets are shared behind closed doors—where only insiders have access?

Welcome to The Inside BS Show—your daily invitation to step behind the velvet rope and into the room where real business leaders talk strategy, success, and scale.

These are your people. They've been where you are, and they've gone where you want to go. But most importantly, they feel your pain and can help it go away.

If you're an entrepreneur, CEO of a private company, or leader of a professional firm, this show is your secret weapon.

On each show we break down the business growth strategies that insiders use to win—revenue generation, building influence, succession planning, hiring top talent, navigating legal minefields, and crafting an exit strategy that maximizes value.

But this isn’t just a podcast—it’s a community. We don’t just talk at you; we bring you into the conversation.

Your host, Dave Lorenzo (The Godfather of Growth), gives you an exclusive front-row seat to the insights, strategies, and behind-the-scenes conversations that drive business success.

A new episode drops each Wednesday at 6 AM.

Want to connect with Dave? Call (305) 692-5531.

What are you waiting for? Join us ON THE INSIDE.