Praxis Consulting helps transform companies looking to accelerate their growth, stabilize their customer base, and break into new markets by aligning their sales compensation program with their strategic objectives.
- • Your business is built around your customers, your prospects, and their needs.
- • Your primary interface with customers and prospects is through your sales people.
- • Sales professionals do what they are paid to do.
- • Nothing tells a sales person what to do more clearly than their compensation plan.
- • The best sales people will know how to make the most money within 30 minutes of getting a new compensation plan.
- • Our job is to align your sales compensation program with your business objectives so that when your sales people win, the company wins.
- • If sales professionals are making money – and the company isn’t – it’s not always a sales issue, but rather one of sales compensation design.
- • To understand sales compensation, you have to understand sales psychology.
- Our Process...
Step 1 – Quantitative Analysis and Qualitative Assessment
We start by understanding your business strategy and objectives, and then work toward an understanding of how well your sales compensation program supports them. We’ll do a quantitative analysis of your sales compensation plans, including plan dynamics and pay/performance ratios, and we’ll conduct a qualitative assessment through interviews with key stakeholders and successful sales people.
Step 2 – Build the Design Team
Since a company’s sales compensation program typically touches many different parts of the company, we take a collaborative approach to designing compensation plans. Working with top management, we’ll build a team that is tailored for your company and reflects your unique organizational structure. We typically include the people who administer the plans to ensure a successful implementation.
Step 3 – Design and Development
After a comprehensive analysis of your current program, we’ll present alternative solutions supported by “what if” modeling scenarios and associated cost projections, and we’ll provide practical recommendations that are aligned with industry best practices and support your culture and values.
Step 4 – Implementation, Documentation, and Communication
Since the primary function of your sales compensation plans is telling your sales people what to do, the messaging and communication of the plans are critical to a successful implementation. We’ll build an implementation plan and a communication plan that supports your objectives and clearly communicates them to your sales people. We’ll publish your compensation plan documents, including relevant policies, and produce all of the collateral roll-out materials.
Step 5 – Post-Implementation Evaluation
fter the plans are published and the roll-outs are complete, we can conduct a post-implementation analysis that includes an assessment of how well your sales people understand the new changes, and how the plans are performing against our projections
- Who we are...
Richard Lenahan launched Praxis Sales Compensation Consulting, LLC to help companies of all sizes improve sales activity, increase revenue, and maximize profitability by aligning their sales compensation program with their strategic business objectives. He has over 20 years experience designing and implementing sales compensation plans that drive company results by driving sales professionals’ behavior.
For the majority of his career, Richard was the senior executive in charge of the global sales compensation program for MCI Telecommunications, as it grew from under $10B to over $25B. He designed and implemented hundreds and hundreds of sales compensation plans for a wide range of sales professionals – sales people, technical support representatives, product specialists, and sales executives – selling to a wide range of clients, including small/medium business, large enterprise customers, state and federal governments, and multi-national accounts. He has an expertise in realigning and integrating sales compensation programs due to changes in corporate ownership, including the acquisitions of MCI by Worldcom and then by Verizon, as well as the acquisitions of dozens of smaller firms by MCI, Worldcom, and Verizon.
Richard has extensive international experience, designing and implementing sales compensation plans for teams in Canada, Europe, Asia Pacific and Latin America.
His collaborative approach with key stakeholders across the enterprise results in highly effective sales compensation strategies; his expertise in customizing impactful communications and end-to-end implementation plans ensures a successful execution of the strategy.
Richard is a graduate of Hobart and William Smith college in upstate New York. He lives in Atlanta, Georgia with his wife and two children.